Friday 30 October 2026 Export LRCX’s income statement to Excel — free account

Lam Research Corporation

LRCX Technology Semiconductor Equipment & Materials

Lam Research Corporation’s revenue for fiscal 2026 (year ended June 2026) was $23.2 billion, up 26.0% from fiscal 2025. In the quarter to June 2026, revenue grew 30.0%, EPS grew 34.8%, free cash flow fell 46.8% and total debt fell 16.7%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; dividend growth for three consecutive years.

238.94 15.45 −6.07%

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Market cap: $317.8B
P/E: 41.3×
Fwd P/E: 24.0×
Dividend yield: 0.46%
F-score: 8/9
Altman Z: 34.22
Beneish M: −1.68
Dividend safety: 88/100

Overview Business Profile Financial Analysis Segments Filings

Insider Decisions trades per month

Total sells 175.81

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	1	—	1	4	1	1	3	2	2	3	1

Insider Ownership 0.40%

Capital & Financial Ratios $m

Market Cap 317,780.00

Revenue 23,232.69

Net Income 7,265.40

Free Cash Flow 4,891.25

Net Debt (1,844.61)

Current Ratio 2.63

Debt/Equity 0.30

P/E ratio 41.27

Fwd P/E 24.00

P/S ratio 12.91

P/B ratio 24.05

Past 5Y EPS Growth 16.45%

This Y EPS Growth 65.91%

Next Y EPS Growth 25.56%

Next Y revenue growth 52.33%

Next 5Y EPS Growth 35.42%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 92.73%

10-year low 10-year high

P/S against its own 10 years 93.06%

10-year low 10-year high

P/B against its own 10 years 92.51%

10-year low 10-year high

EV/Sales against its own 10 years 93.06%

10-year low 10-year high

EV/FCF against its own 10 years 95.81%

10-year low 10-year high

Dividends

Payout Ratio 0.19

Annual Dividend Rate 1.11

Annual Dividend Yield 0.46%

	total	individual payouts
2029	Powerpack
2028	Powerpack
2027	Powerpack
2026	1.04	0.26 0.26 0.33
2025	0.98	0.23 0.23 0.26 0.26
2024	0.86	0.20 0.20 0.23 0.23
2023	1.02	0.17 0.17 0.20 0.28 0.20
2022	0.65	0.15 0.15 0.17 0.17
2021	0.56	0.13 0.13 0.15 0.15
2020	0.49	0.12 0.12 0.13 0.13
2019	0.45	0.11 0.11 0.12 0.12
2018	0.38	0.05 0.11 0.11 0.11
2017	0.19	0.05 0.05 0.05 0.05
2016	0.14	0.03 0.03 0.03 0.05

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	2026
Cash	5,337	5,848	6,391	5,579
Receivables	2,823	2,519	3,378	5,340
Inventory	4,816	4,218	4,308	4,276
Other	—	—	—	—
	13,228	12,883	14,517	15,611

	2023	2024	2025	2026
Payables	471	614	854	1,302
ST’ Debt	8	505	754	4
Other	—	—	—	—
	4,185	4,338	6,568	5,937

Compound Annual Growth %

	10y	5y	3y
Sales	14.72%	9.70%	10.06%
Cash Flow	15.81%	10.30%	4.19%
Earnings	23.04%	13.20%	17.22%
Book Value	7.41%	15.65%	14.95%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 2.17 Actual 2.20

0.99 1.37 1.76 2.14 2.52

Q2 FY26 Beat +0.10

Q3 FY26 Beat +0.11

Q4 FY26 Beat +0.13

Q1 FY27 Beat +0.03

Q2 FY27 — Jan 27

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q2 FY26	1.17	1.27	Beat by 0.10
Q3 FY26	1.36	1.47	Beat by 0.11
Q4 FY26	1.69	1.82	Beat by 0.13
Q1 FY27	2.17	2.20	Beat by 0.03
Q2 FY27	2.34	—	Reports 27 January 2027

EPS $

	Sep	Dec	Mar	Jun	Year
’26	—	—	—	—	—
’26	1.24	1.26	1.45	1.81	5.76
’25	0.86	0.92	1.03	1.35	4.15
’24	0.67	0.72	0.73	0.78	2.90
’23	1.04	1.08	0.60	0.60	3.32
’22	0.83	0.84	0.73	0.87	3.28
’21	0.56	0.60	0.74	0.80	2.69

Fiscal quarters ending in the months shown.

Revenue $m

	Sep	Dec	Mar	Jun	Year
’26	—	—	—	—	—
’26	5,324	5,345	5,841	6,722	23,233
’25	4,168	4,376	4,720	5,171	18,436
’24	3,482	3,758	3,794	3,872	14,905
’23	5,074	5,278	3,870	3,207	17,429
’22	4,304	4,227	4,060	4,636	17,227
’21	3,177	3,456	3,848	4,145	14,626

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Sep	Dec	Mar	Jun	Year
’26	—	—	—	—	—
’26	1,779	1,480	1,141	1,457	5,858
’25	1,568	742	1,309	2,554	6,173
’24	951	1,454	1,385	862	4,652
’23	1,190	1,140	1,726	1,123	5,179
’22	458	1,441	758	444	3,100
’21	643	345	1,165	1,436	3,588

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Sep	Dec	Mar	Jun	Year
’26	—	—	—	—	—
’26	1,594	1,219	810	1,268	4,891
’25	1,458	554	1,021	2,382	5,414
’24	874	1,339	1,281	762	4,256
’23	1,050	977	1,607	1,044	4,677
’22	321	1,302	612	318	2,554
’21	580	253	1,075	1,331	3,239

Fiscal quarters ending in the months shown.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	Trend	10 yrs	2027e	2028e	2029e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	10.58	12.26	13.14	18.14	47.33	29.96	40.73	68.87	56.32	177.50		+36.8%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	21.97	23.49	29.94	51.67	72.84	73.18	80.13	113.00	179.80	438.50		+39.5%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	9,400	10,900	10,700	11,300	14,100	17,700	17,200	17,450	19,000	23,300		+10.6%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.85	1.02	0.90	0.89	1.04	0.97	1.01	0.85	0.97	1.00		+1.8%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	8,014	11,077	9,654	10,045	14,626	17,227	17,429	14,905	18,436	23,233		+12.6%	35,390	42,680	48,983	+28.2%
	Gross margin, %	44.97	46.63	45.15	45.88	46.53	45.69	44.62	47.32	48.71	50.47		+5.5 pt	Powerpack Lam Research Corporation’s next three years, line by line Analysts expect revenue to grow 28.2% a year to 2029 — faster than the 12.6% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	1,812	3,152	2,447	2,575	4,371	5,193	5,109	4,360	5,958	8,262		+18.4%
	EBT margin, %	22.61	28.45	25.34	25.64	29.88	30.15	29.32	29.25	32.32	35.56		+13.0 pt
	Net income	1,698	2,381	2,191	2,252	3,908	4,605	4,511	3,828	5,358	7,265		+17.5%
	Depreciation	332	341	309	269	307	334	342	360	386	442		+3.2%
Per share, $
Per share, $	Revenue	4.94	6.85	6.33	6.94	10.18	12.31	12.87	11.34	14.33	18.51		+15.8%
	Earnings	1.05	1.47	1.44	1.56	2.72	3.29	3.33	2.91	4.17	5.79		+20.9%
	Cash flow	1.25	1.64	2.08	1.47	2.50	2.22	3.82	3.54	4.80	4.67		+15.8%
	Capex	(0.10)	(0.17)	(0.20)	(0.14)	(0.24)	(0.39)	(0.37)	(0.30)	(0.59)	(0.77)		+26.0%
	Free cash flow	1.15	1.47	1.88	1.33	2.26	1.83	3.45	3.24	4.21	3.90		+14.5%
	Book value	4.31	4.07	3.10	3.58	4.20	4.49	6.06	6.50	7.67	9.94		+9.7%
	Shares, m	1,622	1,616	1,525	1,448	1,436	1,399	1,355	1,314	1,286	1,255		(2.8%)
Valuation, ×
Valuation, ×	P/E	13.52	11.75	13.30	20.82	23.89	12.95	19.34	36.41	23.29	74.84		25.0
	P/S	2.86	2.53	3.02	4.66	6.39	3.46	5.00	9.35	6.79	23.41		6.7
	P/B	3.28	4.25	6.18	9.04	15.50	9.50	10.61	16.32	12.69	43.61		13.1
	EV/Sales	2.44	2.30	2.92	4.57	6.34	3.54	4.98	9.29	6.69	23.33		6.6
	EV/FCF	10.46	10.68	9.83	23.89	28.63	23.88	18.55	32.55	22.77	110.81		29.2
Cash, $m
Cash, $m	Operating cash flow	2,029	2,656	3,176	2,126	3,588	3,100	5,179	4,652	6,173	5,858		+12.5%
	Capex	(156)	(273)	(303)	(203)	(349)	(546)	(502)	(397)	(759)	(966)		+22.5%
	Free cash flow	1,873	2,382	2,873	1,923	3,239	2,554	4,677	4,256	5,414	4,891		+11.3%
Balance, $m
Balance, $m	Working capital	6,192	6,000	6,189	7,691	8,125	7,720	9,043	8,545	7,949	9,673		+5.1%
	Total debt	2,693	2,417	4,490	5,811	5,002	5,006	5,012	4,983	4,485	3,735		+3.7%
	Net debt	(3,348)	(2,533)	(941)	(900)	(727)	1,348	(326)	(865)	(1,906)	(1,845)		(6.4%)
	Shareholders’ equity	6,987	6,580	4,723	5,183	6,027	6,278	8,210	8,539	9,862	12,471		+6.6%
Returns, %
Returns, %	ROA	13.92	19.35	17.90	16.96	25.67	27.84	25.08	20.40	26.73	32.38		+18.5 pt
	ROIC	32.66	49.62	40.73	39.01	52.86	44.10	41.02	34.72	46.36	48.23		+15.6 pt
	ROE	25.94	35.09	38.77	45.46	69.73	74.85	62.27	45.71	58.24	65.07		+39.1 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Reportable Segment	23,233	100.00%
Gross margin		50.47%
Operating margin		35.29%
Pre-tax margin		35.56%

Revenue by segment since 2009

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ASML ASML Holding N.V.	$645.9B	38.6×	33.9×	+52.79% (above 0%: growing)	+132.14% (above 0%: growing)	+4,578.01% (above 0%: growing)	57.45%	44.36%	Compare
AMAT Applied Materials, Inc.	$334.6B	33.4×	12.4×	+24.83% (above 0%: growing)	+43.50% (above 0%: growing)	+13.66% (above 0%: growing)	50.31%	33.74%	Compare
LRCX Lam Research Corporation	$317.8B	41.3×	24.0×	+29.99% (above 0%: growing)	+34.81% (above 0%: growing)	−46.75% (below 0%: shrinking)	51.75%	37.39%
KLAC KLA Corporation	$218.5B	43.0×	27.1×	+15.21% (above 0%: growing)	+14.16% (above 0%: growing)	−22.88% (below 0%: shrinking)	61.36%	42.49%	Compare
TER Teradyne, Inc.	$46.3B	37.6×	34.8×	+103.90% (above 0%: growing)	+387.76% (above 0%: growing)	+187.39% (above 0%: growing)	59.79%	32.94%	Compare
Q Qnity Electronics, Inc.	$25.7B	41.6×	30.2×	+22.14% (above 0%: growing)	−34.44% (below 0%: shrinking)	−29.91% (below 0%: shrinking)	46.61%	19.31%	Compare
ENTG Entegris, Inc.	$24.5B	77.5×	48.4×	+11.46% (above 0%: growing)	+74.29% (above 0%: growing)	+148.72% (above 0%: growing)	47.55%	18.64%	Compare
ONTO Onto Innovation Inc.	$10.9B	74.7×	32.7×	+35.30% (above 0%: growing)	+76.81% (above 0%: growing)	+30.97% (above 0%: growing)	53.41%	18.52%	Compare
NVMI Nova Ltd.	$10.6B	36.1×	32.8×	+15.90% (above 0%: growing)	+1.72% (above 0%: growing)	−10.48% (below 0%: shrinking)	56.54%	29.88%	Compare
Median of peers	$36.0B	40.1×	32.8×	+23.49%	+58.90%	+22.32%	54.98%	31.41%

All 29 Semiconductor Equipment & Materials stocks →

Business profile

Updated 26 October 2026

Lam Research is a global supplier of wafer-fabrication equipment and services to semiconductor manufacturers. Founded in 1980, it is headquartered in Fremont, California. It sells to memory-chip makers, foundries that manufacture chips for other companies, and integrated device manufacturers that design and make their own chips.

Its tools perform repeated steps in making many chips on a silicon wafer. Deposition tools add insulating or conducting films; etch tools selectively remove material to create chip features; and clean tools remove particles, residues and contaminants between manufacturing steps. These processes must work with increasingly complex materials and structures at very small dimensions.

Read the full business profile →

Financial Analysis (summary)

Updated 22 October 2026

Lam Research reported $23.2 billion of revenue, $7.3 billion of net income and $5.76 of diluted EPS in FY2026. In Q4 FY2026, revenue was $6.7 billion, net income was $2.3 billion and diluted EPS was $1.81.

Profitability margins increased in FY2026, while operating cash flow and free cash flow declined from FY2025. At FY2026 year-end, total debt was $3.7 billion, cash and short-term investments were $5.6 billion, and net debt was −$1.8 billion.

Read the full analysis →

Analyst rating changes each firm’s latest, last six months

Firm	Date	Action	Rating	Target
Mizuho	Oct 23, 2026	Reiterated	Outperform	—
Citi	Oct 22, 2026	Target cut	—	—
Morgan Stanley	Oct 5, 2026	Target raised	Outperform	367.00 → 385.00

Pay and ownership Proxy statement filed 24 September 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2026	40.35m	320.64m	633.00
2025	28.30m	14.70m	161.00
2024	30.14m	71.75m	175.00
2023	18.31m	35.46m	99.00
2022	16.94m	10.27m	72.00

Ownership

Directors and executive officers, together less than 1%

BlackRock, Inc. 9.41%

Vanguard Capital Management 7.48%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement