LRCX · Lam Research Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $18.44B | $14.91B | $17.43B | $17.23B | $14.63B | $10.04B |
| Cost of Revenue | $9.46B | $7.85B | $9.65B | $9.36B | $7.82B | $5.44B |
| Gross Profit | $8.98B | $7.05B | $7.78B | $7.87B | $6.81B | $4.61B |
| R&D | $2.10B | $1.90B | $1.73B | $1.60B | $1.49B | $1.25B |
| SG&A | $981.70M | $868.25M | $832.75M | $885.74M | $829.88M | $682.48M |
| Total Operating Expenses | $3.08B | $2.79B | $2.60B | $2.49B | $2.32B | $1.93B |
| D&A | $386.28M | $359.70M | $342.43M | $333.74M | $307.15M | $268.52M |
| Operating Income | $5.90B | $4.26B | $5.17B | $5.38B | $4.48B | $2.67B |
| Interest Expense | $177.22M | $183.03M | $186.46M | $184.76M | $208.60M | $177.44M |
| Income Tax | $599.91M | $532.45M | $598.28M | $587.83M | $462.35M | $323.23M |
| Net Income | $5.36B | $3.83B | $4.51B | $4.61B | $3.91B | $2.25B |
| EPS - Basic | $4.17 | $2.91 | $3.33 | $3.29 | $2.72 | $1.56 |
| EPS - Diluted | $4.15 | $2.90 | $3.32 | $3.27 | $2.69 | $1.51 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $6.39B | $5.85B | $5.34B | $3.52B | $4.42B | $4.92B |
| Accounts Receivable | $3.38B | $2.52B | $2.82B | $4.31B | $3.03B | $2.10B |
| Inventory | $4.31B | $4.22B | $4.82B | $3.97B | $2.69B | $1.90B |
| Accounts Payable | $854.21M | $613.97M | $470.70M | $1.01B | $829.71M | $592.39M |
| Current Assets | $14.52B | $12.88B | $13.23B | $12.29B | $11.65B | $10.85B |
| Total Assets | $21.35B | $18.74B | $18.78B | $17.20B | $15.89B | $14.56B |
| Current Liabilities | $6.57B | $4.34B | $4.18B | $4.56B | $3.53B | $3.16B |
| Long-term Debt | $3.72B | $4.47B | $4.96B | $4.96B | $4.96B | $4.96B |
| Total Liabilities | $11.48B | $10.21B | $10.57B | $10.92B | $9.86B | $9.38B |
| Stockholders' Equity | $9.86B | $8.54B | $8.21B | $6.28B | $6.03B | $5.17B |
| Retained Earnings | $28.99B | $24.81B | $22.03B | $18.45B | $14.68B | $11.52B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $6.17B | $4.65B | $5.18B | $3.10B | $3.59B | $2.13B |
| Investing Cash Flow | ($708.09M) | ($370.61M) | ($534.56M) | $612.27M | $73.27M | ($244.08M) |
| Financing Cash Flow | ($4.94B) | ($4.00B) | ($2.83B) | ($4.58B) | ($4.17B) | ($623.93M) |
| CapEx | $759.19M | $396.67M | $501.57M | $546.03M | $349.10M | $203.24M |
| Free Cash Flow | $5.41B | $4.26B | $4.68B | $2.55B | $3.24B | $1.92B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 48.7% | 47.3% | 44.6% | 45.7% | 46.5% | 45.9% |
| Operating margin | 32.0% | 28.6% | 29.7% | 31.2% | 30.6% | 26.6% |
| EBITDA margin | 34.1% | 31.0% | 31.7% | 33.2% | 32.7% | 29.3% |
| Net margin | 29.1% | 25.7% | 25.9% | 26.7% | 26.7% | 22.4% |
| Free cash flow margin | 29.4% | 28.6% | 26.8% | 14.8% | 22.1% | 19.1% |
| FCF / Net income | 1.01 | 1.11 | 1.04 | 0.55 | 0.83 | 0.85 |
| R&D / Revenue | 11.4% | 12.8% | 9.9% | 9.3% | 10.2% | 12.5% |
| SG&A / Revenue | 5.3% | 5.8% | 4.8% | 5.1% | 5.7% | 6.8% |
| Effective tax rate | 10.1% | 12.2% | 11.7% | 11.3% | 10.6% | 12.6% |
| Return on assets | 25.1% | 20.4% | 24.0% | 26.8% | 24.6% | 15.5% |
| Return on equity | 54.3% | 44.8% | 54.9% | 73.4% | 64.8% | 43.5% |
| Return on invested capital | 39.1% | 28.8% | 34.7% | 42.5% | 36.5% | 23.1% |
| Liquidity | ||||||
| Current ratio | 2.21 | 2.97 | 3.16 | 2.69 | 3.30 | 3.43 |
| Quick ratio | 1.55 | 2.00 | 2.01 | 1.82 | 2.54 | 2.83 |
| Cash ratio | 0.97 | 1.35 | 1.28 | 0.77 | 1.25 | 1.55 |
| Leverage | ||||||
| Debt / Equity | 0.38 | 0.52 | 0.60 | 0.79 | 0.82 | 0.96 |
| Debt / Assets | 0.17 | 0.24 | 0.26 | 0.29 | 0.31 | 0.34 |
| Debt / EBITDA | 0.59 | 0.97 | 0.90 | 0.87 | 1.04 | 1.69 |
| Interest coverage | 33.3x | 23.3x | 27.8x | 29.1x | 21.5x | 15.1x |
| Equity multiplier | 2.16 | 2.20 | 2.29 | 2.74 | 2.64 | 2.81 |
| Liabilities / Assets | 0.54 | 0.54 | 0.56 | 0.63 | 0.62 | 0.64 |
| Efficiency | ||||||
| Asset turnover | 0.86 | 0.80 | 0.93 | 1.00 | 0.92 | 0.69 |
| Inventory turnover | 2.20 | 1.86 | 2.00 | 2.36 | 2.91 | 2.86 |
| Days sales outstanding | 67d | 62d | 59d | 91d | 76d | 76d |
| Days inventory outstanding | 166d | 196d | 182d | 155d | 126d | 128d |
| Days payable outstanding | 33d | 29d | 18d | 39d | 39d | 40d |
| Cash conversion cycle | 200d | 229d | 223d | 207d | 162d | 164d |
| Valuation | ||||||
| P / E | 23.5x | 36.7x | 19.4x | 13.0x | 23.4x | 20.0x |
| P / B | 12.7x | 1.6x | 1.1x | 1.0x | 1.5x | 0.9x |
| P / S | 6.8x | 0.9x | 0.5x | 0.3x | 0.6x | 0.4x |
| EV / EBITDA | 19.5x | 2.7x | 1.5x | 1.3x | 2.0x | 1.5x |
| Growth | ||||||
| Revenue growth (YoY) | 23.7% | -14.5% | 1.2% | 17.8% | 45.6% | 4.1% |
| Revenue CAGR (3y) | 2.3% | 0.6% | 20.2% | 21.3% | 9.7% | 7.8% |
| Revenue CAGR (5y) | 12.9% | 9.1% | 9.5% | 16.5% | 20.0% | 22.8% |
| Gross profit growth (YoY) | 27.3% | -9.3% | -1.2% | 15.7% | 47.7% | 5.7% |
| Operating income growth (YoY) | 38.4% | -17.6% | -3.8% | 20.1% | 67.6% | 8.5% |
| Net income growth (YoY) | 40.0% | -15.1% | -2.0% | 17.8% | 73.6% | 2.8% |
| EPS growth (YoY) | 43.1% | -12.7% | 1.4% | 21.7% | 78.1% | -89.0% |
| EPS CAGR (3y) | 8.2% | 2.5% | 30.0% | -37.9% | -41.1% | -45.3% |
| EPS CAGR (5y) | 22.4% | -26.7% | -24.1% | -18.7% | -12.4% | 18.0% |
| FCF growth (YoY) | 27.2% | -9.0% | 83.2% | -21.2% | 68.4% | -33.0% |
| FCF CAGR (5y) | 23.0% | 8.2% | 14.4% | 6.4% | 22.5% | 28.0% |
| Book value growth (YoY) | 15.5% | 4.0% | 30.8% | 4.2% | 16.5% | 10.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-06-29.
Business segments
$18.44B totalReportable Segment$18.44B · 100.0%
Product / service
$18.44B totalSystem$11.49B · 62.3%
Customer Supportand Other$6.94B · 37.7%
Geographic
$18.44B totalCN$6.21B · 33.7%
KR$4.13B · 22.4%
TW$3.45B · 18.7%
JP$1.88B · 10.2%
US$1.38B · 7.5%
South East Asia$837.24M · 4.5%
Europe$562.56M · 3.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
3.50
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Special Industry Machinery, NEC
Comparing LAM RESEARCH CORP against the 5 most active filers in the same SIC group.
Dividends
$1.01/share trailing 12 months · +13.5% YoY
| Ex-date | Per share |
|---|---|
| Mar 4, 2026 | $0.2600 |
| Dec 3, 2025 | $0.2600 |
| Sep 24, 2025 | $0.2600 |
| Jun 18, 2025 | $0.2300 |
| Mar 5, 2025 | $0.2300 |
| Dec 11, 2024 | $0.2300 |
| Sep 17, 2024 | $0.2300 |
| Jun 18, 2024 | $0.2000 |
| Mar 12, 2024 | $0.2000 |
| Dec 12, 2023 | $0.2000 |
| Sep 12, 2023 | $0.2000 |
| Jun 13, 2023 | $0.1725 |
| Mar 14, 2023 | $0.1725 |
| Dec 13, 2022 | $0.1725 |
| Sep 13, 2022 | $0.1725 |
| Jun 14, 2022 | $0.1500 |
| Mar 15, 2022 | $0.1500 |
| Dec 14, 2021 | $0.1500 |
| Sep 27, 2021 | $0.1500 |
| Jun 15, 2021 | $0.1300 |
| Mar 16, 2021 | $0.1300 |
| Dec 8, 2020 | $0.1300 |
| Sep 29, 2020 | $0.1300 |
| Jun 16, 2020 | $0.1150 |