What Is The True Hidden Price Of Lumentum Stock?

Lumentum (LITE) stock currently trades at 150.5 times its adjusted earnings for the last twelve months, meaning normalized net income with stock-based pay added back. While that is a steep price for one year of profit, Lumentum's sales more than doubled from a year earlier in its latest quarter, shifting how that valuation looks against the profit ahead. So what are you really paying for the profit Lumentum is expected to earn over the next two years.