L 
Lam Research LRCX · USD
Information Technology · Semiconductors & Semiconductor Equipment · US listing · 🇺🇸 United States
S&P 500Nasdaq-100
221.31
+10.41%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$23.23bn
FY2017FY2026
Net income
$7.27bn
FY2017FY2026
Free cash flow
$4.89bn
FY2017FY2026
Shareholders' equity
$12.47bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.23bn | $18.44bn | $14.91bn | $17.43bn | $17.23bn | $14.63bn | $10.04bn | $9.65bn | $11.08bn | $8.01bn |
| Gross profit | $11.73bn | $8.98bn | $7.05bn | $7.78bn | $7.87bn | $6.81bn | $4.61bn | $4.36bn | $5.17bn | $3.60bn |
| Research and development | $2.38bn | $2.10bn | $1.90bn | $1.73bn | $1.60bn | $1.49bn | $1.25bn | $1.19bn | $1.19bn | $1.03bn |
| Operating income | $8.20bn | $5.90bn | $4.26bn | $5.17bn | $5.38bn | $4.48bn | $2.67bn | $2.46bn | $3.21bn | $1.90bn |
| Net income | $7.27bn | $5.36bn | $3.83bn | $4.51bn | $4.61bn | $3.91bn | $2.25bn | $2.19bn | $2.38bn | $1.70bn |
| Diluted earnings per share | 5.76 | 4.23 | 2.96 | 3.41 | 3.38 | 2.76 | 1.54 | 1.46 | 1.47 | 1.05 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $23.53bn | $21.35bn | $18.74bn | $18.78bn | $17.20bn | $15.89bn | $14.56bn | $12.00bn | $12.48bn | $12.12bn |
| Cash and short-term investments | $5.58bn | $6.39bn | $5.85bn | $5.37bn | $3.66bn | $5.73bn | $6.71bn | $5.43bn | $4.95bn | $6.04bn |
| Total liabilities | $11.06bn | $11.48bn | $10.21bn | $10.57bn | $10.92bn | $9.86bn | $9.38bn | $7.28bn | $5.90bn | $5.14bn |
| Debt | $3.82bn | $4.55bn | $4.98bn | $5.01bn | $5.01bn | $5.00bn | $5.81bn | $4.54bn | $2.42bn | $2.69bn |
| Shareholders' equity | $12.47bn | $9.86bn | $8.54bn | $8.21bn | $6.28bn | $6.03bn | $5.18bn | $4.72bn | $6.58bn | $6.99bn |
| Shares outstanding | 1,261m | 1,266m | 1,291m | 1,322m | 1,363m | 1,415m | 1,459m | 1,501m | 1,622m | 1,611m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $5.86bn | $6.17bn | $4.65bn | $5.18bn | $3.10bn | $3.59bn | $2.13bn | $3.18bn | $2.66bn | $2.03bn |
| Capital spending | −$966.4m | −$759.2m | −$396.7m | −$501.6m | −$546.0m | −$349.1m | −$203.2m | −$303.5m | −$273.5m | −$157.4m |
| Free cash flow | $4.89bn | $5.41bn | $4.26bn | $4.68bn | $2.55bn | $3.24bn | $1.92bn | $2.87bn | $2.38bn | $1.87bn |
| Dividends paid | −$1.27bn | −$1.15bn | −$1.02bn | −$907.9m | −$815.3m | −$727.0m | −$656.8m | −$678.3m | −$307.6m | −$243.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.72bn | $5.84bn | $5.34bn | $5.32bn | $5.17bn | $4.72bn | $4.38bn | $4.17bn |
| Gross profit | $3.48bn | $2.91bn | $2.65bn | $2.68bn | $2.59bn | $2.31bn | $2.07bn | $2.00bn |
| Operating income | $2.51bn | $2.05bn | $1.81bn | $1.83bn | $1.74bn | $1.56bn | $1.33bn | $1.26bn |
| Net income | $2.28bn | $1.83bn | $1.59bn | $1.57bn | $1.72bn | $1.33bn | $1.19bn | $1.12bn |
| Diluted earnings per share | 1.81 | 1.45 | 1.26 | 1.24 | 1.35 | 1.03 | 0.92 | 0.86 |
| Cash from operations | $1.46bn | $1.14bn | $1.48bn | $1.78bn | $2.55bn | $1.31bn | $741.0m | $1.57bn |
| Capital spending | −$634.0m | −$331.0m | −$185.0m | −$185.0m | −$172.0m | −$288.0m | −$110.0m | −$110.0m |
| Free cash flow | $823.0m | $810.0m | $1.29bn | $1.59bn | $2.38bn | $1.02bn | $631.0m | $1.46bn |
| Total assets | $23.53bn | $20.79bn | $21.39bn | $21.90bn | $21.35bn | $19.97bn | $19.84bn | $19.53bn |
| Cash and short-term investments | $5.58bn | $4.75bn | $6.18bn | $6.69bn | $6.39bn | $5.45bn | $5.67bn | $6.07bn |
| Debt | $3.82bn | $3.73bn | $4.48bn | $4.48bn | $3.73bn | $3.73bn | $4.48bn | $4.48bn |
| Shareholders' equity | $12.47bn | $10.58bn | $10.15bn | $10.19bn | $9.86bn | $9.51bn | $8.81bn | $8.47bn |
Financial ratios
Data as of 3 Sept 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 50.5% | 48.7% | 47.3% | 44.6% | 45.7% | 46.5% |
| Operating margin | 35.3% | 32.0% | 28.6% | 29.7% | 31.2% | 30.6% |
| Net margin | 31.3% | 29.1% | 25.7% | 25.9% | 26.7% | 26.7% |
| Return on equity | 58.3% | 54.3% | 44.8% | 54.9% | 73.4% | 64.8% |
| Return on assets | 30.9% | 25.1% | 20.4% | 24.0% | 26.8% | 24.6% |
| Free cash flow yield | 1.9% | 1.9% | 1.4% | 1.5% | 0.9% | 1.0% |
| Revenue growth | 26.0% | 23.7% | -14.5% | 1.2% | 17.8% | 45.6% |
| Earnings growth | 35.6% | 40.0% | -15.1% | -2.0% | 17.8% | 73.6% |
| Current ratio | 2.63x | 2.21x | 2.97x | 3.16x | 2.69x | 3.30x |
| Debt to equity | 0.31x | 0.46x | 0.58x | 0.61x | 0.80x | 0.83x |
| Equity ratio | 53.0% | 46.2% | 45.6% | 43.7% | 36.5% | 37.9% |
| Interest coverage | 52.27x | 33.11x | 23.02x | 27.75x | 29.13x | 21.49x |
| R&D as a share of sales | 10.2% | 11.4% | 12.8% | 9.9% | 9.3% | 10.2% |
| Buybacks as a share of market value | 0.3% | 2.0% | 2.3% | 3.0% | 3.7% | 3.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.1% | 9.7% | 14.7% |
| Operating income | 16.6% | 12.8% | 22.3% |
| Net income | 17.2% | 13.2% | 23.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 49.7% | 48.0% | 47.4% | 46.9% |
| Operating margin | 33.8% | 31.8% | 31.6% | 29.7% |
| Net margin | 30.3% | 28.3% | 27.8% | 25.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 41.6 | 40.4 | 24.4 | 23.0 | 12.4 | 26.0 | 30.6 | 20.0 | 9.3 | 17.5 |
| Price to sales | 13.0 | 11.8 | 6.3 | 5.9 | 3.3 | 7.0 | 6.9 | 4.5 | 2.0 | 3.7 |
Market value over time
31 Oct 2016 to 2 Sept 2026, in USD
$1.74bn$363.60bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 119% | -4% | 78% | -34% | 37% | 62% | 132% | -32% | 77% | 37% |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 23 Sept 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.33 | 1.04 | 0.92 | 0.80 | 0.69 | 0.60 | 0.52 | 0.46 |
- 10-for-1 split · 3 Oct 2024
- 3-for-1 split · 17 Mar 2000
- 3-for-2 split · 16 Sept 1993
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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