SBS vs. LITE

Last updated Jun 13, 2026

SBS (Companhia de Saneamento Básico do Estado de São Paulo - SABESP) and LITE (Lumentum Holdings Inc.) are both stocks. SBS operates in Utilities - Regulated Water (Utilities), while LITE operates in Communication Equipment (Technology). Over the past 10 years, SBS returned 16.43%/yr vs 43.74%/yr for LITE. At a 0.16 correlation, their price movements are largely independent.

Performance

SBS vs. LITE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) and Lumentum Holdings Inc. (LITE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBS achieves a 15.28% return, which is significantly lower than LITE's 150.02% return. Over the past 10 years, SBS has underperformed LITE with an annualized return of 16.43%, while LITE has yielded a comparatively higher 43.74% annualized return.

SBS

• 1D: -0.18%
• 1M: -6.98%
• YTD: 15.28%
• 6M: 14.60%
• 1Y: 38.40%
• 3Y*: 40.12%
• 5Y*: 32.68%
• 10Y*: 16.43%

LITE

• 1D: 3.59%
• 1M: -10.56%
• YTD: 150.02%
• 6M: 184.13%
• 1Y: 977.85%
• 3Y*: 158.28%
• 5Y*: 62.72%
• 10Y*: 43.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SBS vs. LITE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	15.28%	80.60%	-4.21%	46.89%	48.42%	-13.79%	-40.98%	91.22%	-20.37%	23.83%
LITE Lumentum Holdings Inc.	150.02%	339.06%	60.15%	0.48%	-50.68%	11.57%	19.55%	88.76%	-14.09%	26.52%

Correlation

The correlation between SBS and LITE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Aug 4, 2015	0.16

Fundamentals

Market Cap SBS : $19.24B LITE : $88.65B
EPS SBS : R$2.48 LITE : $5.26
PE Ratio SBS : 11.24 LITE : 175.08
PS Ratio SBS : 2.48 LITE : 30.95
PB Ratio SBS : 2.27 LITE : 29.82
Total Revenue (TTM) SBS : R$38.70B LITE : $2.49B
Gross Profit (TTM) SBS : R$13.96B LITE : $938.50M
EBITDA (TTM) SBS : R$14.87B LITE : $470.10M

Return for Risk

SBS vs. LITE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SBS

SBS Risk / Return Rank: 73
SBS Sharpe Ratio Rank: 77
SBS Sortino Ratio Rank: 73
SBS Omega Ratio Rank: 69
SBS Calmar Ratio Rank: 71
SBS Martin Ratio Rank: 76

LITE

LITE Risk / Return Rank: 99
LITE Sharpe Ratio Rank: 100
LITE Sortino Ratio Rank: 99
LITE Omega Ratio Rank: 98
LITE Calmar Ratio Rank: 100
LITE Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SBS vs. LITE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) and Lumentum Holdings Inc. (LITE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SBS	LITE	Difference
Sharpe ratio: Return per unit of total volatility	1.14	11.43	-10.29
Sortino ratio: Return per unit of downside risk	1.76	5.42	-3.66
Omega ratio: Gain probability vs. loss probability	1.21	1.71	-0.51
Calmar ratio: Return relative to maximum drawdown	1.55	34.43	-32.88
Martin ratio: Return relative to average drawdown	4.65	126.26	-121.61

SBS vs. LITE - Sharpe Ratio Comparison

The current SBS Sharpe Ratio is 1.14, which is lower than the LITE Sharpe Ratio of 11.43. The chart below compares the historical Sharpe Ratios of SBS and LITE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SBS vs. LITE - Drawdown Comparison

The maximum SBS drawdown since its inception was -76.49%, which is greater than LITE's maximum drawdown of -66.89%. Use the drawdown chart below to compare losses from any high point for SBS and LITE.

Drawdown Indicators

	SBS	LITE	Difference
Max Drawdown Largest peak-to-trough decline	-76.49%	-66.89%	-9.60%
Max Drawdown (1Y) Largest decline over 1 year	-24.88%	-28.70%	+3.82%
Max Drawdown (3Y) Largest decline over 3 years	-24.88%	-50.63%	+25.75%
Max Drawdown (5Y) Largest decline over 5 years	-30.35%	-66.48%	+36.13%
Max Drawdown (10Y) Largest decline over 10 years	-61.91%	-66.89%	+4.98%
Current Drawdown Current decline from peak	-22.90%	-12.49%	-10.41%
Average Drawdown Average peak-to-trough decline	-25.70%	-23.57%	-2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.28%	7.81%	+0.47%

Volatility

SBS vs. LITE - Volatility Comparison

The current volatility for Companhia de Saneamento Básico do Estado de São Paulo - SABESP (SBS) is 8.92%, while Lumentum Holdings Inc. (LITE) has a volatility of 28.12%. This indicates that SBS experiences smaller price fluctuations and is considered to be less risky than LITE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBS	LITE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.92%	28.12%	-19.20%
Volatility (6M) Calculated over the trailing 6-month period	24.61%	69.73%	-45.12%
Volatility (1Y) Calculated over the trailing 1-year period	33.86%	86.47%	-52.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.90%	59.94%	-23.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.51%	56.62%	-13.11%

Dividends

SBS vs. LITE - Dividend Comparison

SBS's dividend yield for the trailing twelve months is around 2.33%, while LITE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LITE Lumentum Holdings Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SBS Companhia de Saneamento Básico do Estado de São Paulo - SABESP	2.33%	4.68%	1.96%	1.66%	1.88%	0.97%	2.93%	1.99%	3.86%	2.76%	0.65%	1.91%

Financials

SBS vs. LITE - Profitability Comparison

The chart below illustrates the profitability comparison between Companhia de Saneamento Básico do Estado de São Paulo - SABESP and Lumentum Holdings Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

SBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a gross profit of 3.79B and revenue of 9.78B. Therefore, the gross margin over that period was 38.8%.

LITE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lumentum Holdings Inc. reported a gross profit of 357.00M and revenue of 808.40M. Therefore, the gross margin over that period was 44.2%.

SBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported an operating income of 3.33B and revenue of 9.78B, resulting in an operating margin of 34.1%.

LITE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lumentum Holdings Inc. reported an operating income of 174.50M and revenue of 808.40M, resulting in an operating margin of 21.6%.

SBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Companhia de Saneamento Básico do Estado de São Paulo - SABESP reported a net income of 1.72B and revenue of 9.78B, resulting in a net margin of 17.6%.

LITE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lumentum Holdings Inc. reported a net income of 144.20M and revenue of 808.40M, resulting in a net margin of 17.8%.

Frequently Asked Questions

Can I hold both SBS and LITE in my portfolio?

SBS and LITE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBS or LITE?

LITE has higher volatility (28.12%) compared to SBS (8.92%). In terms of maximum drawdown, SBS dropped -76.49% vs LITE's -66.89%.

Which has better risk-adjusted returns?

LITE currently has the higher Sharpe Ratio (11.43 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.