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Lam Research Corporation (LRCX) vs Nova Ltd. (NVMI)

Lam Research Corporation and Nova Ltd. are both Semiconductor Equipment & Materials companies. Lam Research Corporation is the larger, with a market value of $317.8B against $10.6B — 29.9× the size. Nova Ltd. trades at the lower P/E: 36.1× against 41.3×. Lam Research Corporation grew revenue faster over the last twelve months: 26.0% against 16.2%. Lam Research Corporation has the higher net margin (31.3% vs 28.8%) and the higher return on invested capital (48.2% vs 14.4%). Across the 22 metrics below, Lam Research Corporation leads on 11 and Nova Ltd. on 11.

Valuation

Metric LRCX NVMI Semiconductor Equipment & Materials median
P/E 41.27 36.06 41.61
P/S 12.91 10.62 4.69
P/B 24.05 7.55 3.47
Price to free cash flow 61.31 52.45 48.35
EV/EBITDA 34.49 35.46 30.54
EV/Sales 12.83 11.09 5.65
Earnings yield 2.42% 2.77% 1.34%
Free cash flow yield 1.63% 1.91% 1.86%

Profitability

Metric LRCX NVMI Semiconductor Equipment & Materials median
Gross margin 50.47% 57.12% 43.95%
Operating margin 35.29% 28.97% 10.32%
Net margin 31.27% 28.84% 7.45%
Free cash flow margin 21.05% 20.24% 6.77%
Return on equity 65.07% 0.00% 4.78%
Return on assets 32.38% 13.44% 3.62%
Return on invested capital 48.23% 14.41% 6.10%

Growth

Metric LRCX NVMI Semiconductor Equipment & Materials median
Revenue growth (TTM) 26.02% 16.16% 14.60%
EPS growth (last fiscal year) 38.80% 38.43% (4.56%)
Revenue growth, 5-year CAGR 9.70% 26.73% 10.11%
Net income growth, 5-year CAGR 13.20% 40.17% 0.00%

Health

Metric LRCX NVMI Semiconductor Equipment & Materials median
Debt to equity 0.30 0.50 0.09
Current ratio 2.63 1.55 3.66
Net debt to EBITDA (0.21) (1.16) (0.49)

Dividend

Metric LRCX NVMI Semiconductor Equipment & Materials median
Dividend yield 0.46% — 0.46%
Payout ratio 0.19 — 0.19

Size

Metric LRCX NVMI Semiconductor Equipment & Materials median
Market cap 317.78b 10.64b 3.46b

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