LITE
Lumentum Holdings Inc.
LITE has the edge over V overall, supported by stronger fundamentals and stronger modeled upside.
V
Visa Inc.
V 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.
V Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
V's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like V.
LITE PE Valuation
LITE has no meaningful PE right now: it lost money over the past year.
V PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 28x | $420 | — |
| Cheap | 30x | $371 | -12% |
| Fair | 33x | $402 | -4.4% |
| Current | 34x | $420 | — |
| Expensive | 38x | $474 | +13% |
Historical ranges are pointers, not guarantees.
V's PE is in its fair range at 34x. If earnings grow as analysts expect, today's price would be 28x next year's earnings, in its cheap range.
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.
V Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for V, 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.
V Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.01 | +22% |
| Q3 2026 | $12.32 | +21% |
| Q2 2026 | $11.76 | +15% |
| Q1 2026 | $11.48 | +15% |
| Q4 2025 | $10.66 | +7.5% |
| Q3 2025 | $10.21 | +4.9% |
| Q2 2025 | $10.24 | +9.5% |
| Q1 2025 | $9.95 | +11% |
| Q4 2024 | $9.92 | +14% |
V has the edge over LITE on earnings quality, reporting a profit while its opponent remains loss making.
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 has the edge over V on sales, with stronger typical year-over-year growth.
| 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.
V Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.1B | +13% |
| Q2 2026 | $11.6B | +14% |
| Q1 2026 | $11.2B | +17% |
| Q4 2025 | $10.9B | +15% |
| Q3 2025 | $10.7B | +12% |
| Q2 2025 | $10.2B | +14% |
| Q1 2025 | $9.6B | +9.3% |
| Q4 2024 | $9.5B | +10% |
V's revenue has grown year over year for 22 quarters in a row: $12.1B last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 60% | +2.5 points |
| Q2 2026 | 59% | -1.6 points |
| Q1 2026 | 64% | +7.8 points |
| Q4 2025 | 62% | -3.8 points |
| Q3 2025 | 57% | -8.7 points |
| Q2 2025 | 61% | -6 points |
| Q1 2025 | 57% | -4.4 points |
| Q4 2024 | 66% | -3.4 points |
V 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 has the edge over V on cash flow, with more consistent year-over-year improvement.
V Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.9B | +18% |
| Q2 2026 | $6.1B | -2.7% |
| Q1 2026 | $2.6B | -40% |
| Q4 2025 | $6.4B | +27% |
| Q3 2025 | $5.8B | -8% |
| Q2 2025 | $6.3B | +33% |
| Q1 2025 | $4.4B | +2.6% |
| Q4 2024 | $5.1B | +51% |
V's free cash flow was $22.1B over the past year, up 2.2% from the year before. Free cash flow isn't a meaningful measure for financial services companies like V.
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 |
V Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -7% | -136M shares |
| 1 year | -7.6% | -148M shares |
| 3 years | -13% | -268M shares |
| 5 years | -17% | -378M shares |
| Available history | -20% | -443M shares |
V has the edge over LITE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4B |
| Q2 2026 | $4.8B |
| Q1 2026 | $7.9B |
| Q4 2025 | $3.7B |
| Q3 2025 | $4.9B |
| Q2 2025 | $4.8B |
| Q1 2025 | $4.6B |
| Q4 2024 | $4B |
V spent $20.5B buying back its own shares over the past year, up 12% from the year before.
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.
V Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.4x | Very low |
| Q1 2026 | 0.4x | Very low |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.3x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.3x | Very low |
V 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).
V Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 73.7 | Overbought |
| Stochastic | 82.0 | Overbought |
V's weekly RSI is 74 (overbought) and its Stochastic is 82 (overbought).
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.
V PE vs Financial Services Sector
| Metric | V | Sector median | Relative |
|---|---|---|---|
| PE | 34x | 13x | 162% above |
| PE % | 62 | 63 | 1 pt below |
V is trading at 34x earnings, a 162% premium to the Financial Services sector's median of 13x.
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.
V Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $397.6 | 5.7% above |
| 20 week MA | $378.3 | 11% above |
| 50 week MA | $346.0 | 21% above |
| 100 week MA | $343.7 | 22% above |
| 200 week MA | $300.6 | 40% above |
V 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 V on returns for 2026, with the stronger performance.
V Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $189.4 | $208.7 | +10% |
| 2021 | $208.7 | $216.6 | +3.8% |
| 2022 | $216.6 | $205.8 | -5% |
| 2023 | $205.8 | $260.4 | +26% |
| 2024 | $260.4 | $318.7 | +22% |
| 2025 | $318.7 | $355.0 | +11% |
| 2026 YTD | $355.0 | $420.3 | +18% |
V has finished higher in five of the last six years. It's up 18% so far in 2026.