LITE
Lumentum Holdings Inc.
LITE has a slight edge over TSM overall, supported by stronger modeled upside.
TSM
Taiwan Semiconductor Manufacturing Company Limited
TSM has lower modeled downside risk, despite its lower overall score.
LITE Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Healthy | |
| Healthy |
LITE's revenue, cash flow and balance sheet are currently healthy, and its profitability is stable.
TSM Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Unavailable | |
| Unavailable | |
| Strong |
TSM's balance sheet is currently strong. There isn't enough data to rate its revenue, profitability and cash flow.
LITE PE Valuation
LITE has no meaningful PE right now: it lost money over the past year.
TSM PE Valuation
TSM has no meaningful PE right now: it lost money over the past year.
LITE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for LITE, with profitability improving.
TSM Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Strong growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect strong earnings and revenue growth for TSM, with profitability improving.
LITE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $29.10 | — |
| Q3 2026 | -$89.47 | -5589% |
| Q2 2026 | -$92.96 | -25224% |
| Q1 2026 | $5.54 | +$12.02 |
| Q4 2025 | $3.40 | +$11.12 |
| Q3 2025 | $1.63 | +$9.94 |
| Q2 2025 | $0.37 | +$8.49 |
| Q1 2025 | -$6.48 | -$1.22 |
| Q4 2024 | -$7.72 | -$3.77 |
LITE has swung to a loss: it lost $89.47 per share over the past year, after a profit the year before.
TSM Earnings Per Share
TSM and LITE do not have enough comparable growth data to identify a winner.
LITE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3B | +137% |
| Q2 2026 | $1B | +109% |
| Q1 2026 | $808.4M | +90% |
| Q4 2025 | $665.5M | +65% |
| Q3 2025 | $533.8M | +58% |
| Q2 2025 | $480.7M | +56% |
| Q1 2025 | $425.2M | +16% |
| Q4 2024 | $402.2M | +9.7% |
LITE's revenue has grown year over year for nine quarters in a row: $1.3B last quarter, up 137% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +27 points |
| Q2 2026 | 28% | +30 points |
| Q1 2026 | 22% | +31 points |
| Q4 2025 | 9.7% | +23 points |
| Q3 2025 | 1.3% | +26 points |
| Q2 2025 | -1.8% | +42 points |
| Q1 2025 | -8.9% | +22 points |
| Q4 2024 | -13% | +16 points |
LITE's operating margin was 29% last quarter, up 27 points from the same quarter a year ago, near the top of its range since 2019.
TSM Quarterly Revenue
TSM and LITE do not have enough comparable growth data to identify a winner.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 59% | +8 points |
| Q2 2026 | 60% | +11 points |
| Q1 2026 | 58% | +9.6 points |
| Q4 2025 | 54% | +5 points |
| Q3 2025 | 51% | +3.1 points |
| Q2 2025 | 50% | +7.1 points |
| Q1 2025 | 49% | +6.5 points |
| Q4 2024 | 49% | +7.4 points |
TSM has the edge over LITE on profitability, with a higher operating margin.
LITE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $37.9M | +$56.2M |
| Q2 2026 | $196.2M | +1843% |
| Q1 2026 | $79.1M | +$143.5M |
| Q4 2025 | $43.1M | +$59M |
| Q3 2025 | -$18.3M | +$16.2M |
| Q2 2025 | $10.1M | -7.3% |
| Q1 2025 | -$64.4M | -$37.8M |
| Q4 2024 | -$15.9M | +$16.6M |
LITE's free cash flow has turned positive after three years mostly in the red: $356M over the past year.
TSM Free Cash Flow
TSM and LITE do not have enough comparable growth data to identify a winner.
LITE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +5.7% | +5.5M shares |
| 1 year | +46% | +32.1M shares |
| 3 years | +49% | +33.4M shares |
| 5 years | +31% | +24.2M shares |
| Available history | +30% | +23.7M shares |
LITE has 102M diluted shares, up 46% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | $139.8M |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | $35.8M |
TSM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +45.8K shares |
| 1 year | 0% | +391K shares |
| 3 years | 0% | +528K shares |
| 5 years | 0% | +324K shares |
| Available history | 0% | +324K shares |
TSM has the edge over LITE on shareholder dilution, with a more favorable share count trend.
LITE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 1.5x | Healthy |
| Q1 2026 | 7.9x | High |
| Q4 2025 | 21.6x | High |
| Q3 2025 | 22.7x | High |
| Q2 2025 | 27.9x | High |
| Q3 2023 | -34.7x | Net Cash |
| Q2 2023 | -7.2x | Net Cash |
LITE's net debt is about 1.3 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
TSM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.6x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.6x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.6x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
TSM has the edge over LITE on leverage, with a lower net debt burden relative to earnings.
LITE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.0 | Neutral |
| Stochastic | 22.8 | Neutral |
LITE's weekly RSI is 42 (neutral) and its Stochastic is 23 (neutral).
TSM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.8 | Neutral |
| Stochastic | 28.9 | Neutral |
TSM's weekly RSI is 49 (neutral) and its Stochastic is 29 (neutral).
LITE PE vs Technology Sector
| Metric | LITE | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
LITE has no meaningful PE right now: it lost money over the past year.
TSM PE vs Technology Sector
| Metric | TSM | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 28x | 3.3% below |
| PE % | 45 | 35 | 10 pts above |
TSM has no meaningful PE right now: it lost money over the past year.
LITE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $839.3 | 26% below |
| 20 week MA | $838.6 | 26% below |
| 50 week MA | $732.7 | 15% below |
| 100 week MA | $422.7 | 48% above |
| 200 week MA | $237.9 | 163% above |
LITE has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 163% above its 200-week average.
TSM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $424.4 | 4.4% below |
| 20 week MA | $422.4 | 4% below |
| 50 week MA | $386.5 | 4.9% above |
| 100 week MA | $304.5 | 33% above |
| 200 week MA | $215.6 | 88% above |
TSM has the edge over LITE on trend strength, trading above more of its moving averages.
LITE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $79.0 | $98.3 | +24% |
| 2021 | $98.3 | $104.5 | +6.3% |
| 2022 | $104.5 | $50.6 | -52% |
| 2023 | $50.6 | $52.4 | +3.7% |
| 2024 | $52.4 | $84.4 | +61% |
| 2025 | $84.4 | $390.8 | +363% |
| 2026 YTD | $390.8 | $624.7 | +60% |
LITE has the edge over TSM on returns for 2026, with the stronger performance.
TSM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $58.5 | $106.0 | +81% |
| 2021 | $106.0 | $120.7 | +14% |
| 2022 | $120.7 | $74.9 | -38% |
| 2023 | $74.9 | $104.0 | +39% |
| 2024 | $104.0 | $201.6 | +94% |
| 2025 | $201.6 | $302.8 | +50% |
| 2026 YTD | $302.8 | $405.5 | +34% |
TSM has finished higher in five of the last six years, three of them by more than 50%. It's up 34% so far in 2026.