What is Lam Research Corp's earnings per share (EPS)?

Lam Research Corp (LRCX) reported diluted earnings per share of $5.76 for fiscal year 2026. This represents a 38.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Lam Research (LRCX) Financials

LRCX NASDAQ

Trailing 12 months to September 27, 2026

Revenue $26.1B +33.4% YoY

Net Income $8.4B +45.4% YoY

EPS (Diluted) $6.71 +48.1% YoY

Free Cash Flow $6.5B +17.8% YoY

Market Cap $297.2B as of Oct 26, 2026

Price / Sales 11.4x on $26.1B revenue, trailing 12 months to September 27, 2026

Price / Earnings 35.2x on $8.4B net income, trailing 12 months to September 27, 2026

Price / Book 21.4x on $13.9B equity, Q1 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 26, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2027, ended Sep 27, 2026 Reported Oct 22, 2026 Currency USD FYE June

Newest figures come from the 10-Q for Q1 FY2027, filed Oct 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LRCX SEC filings page.

Lam Research Corp (LRCX) reported $26.1B in revenue over the twelve months to Sep 27, 2026, up 33.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LRCX FY2026 2026-10-22

Lam Research is scaling profitably, with sales growth widening margins while cash conversion weakened as working capital and reinvestment absorbed more cash.

In FY2026, net income reached $7.3B while operating cash flow was $5.9B, showing that reported earnings grew faster than cash realization. Receivables rose 58.1% while free cash flow fell 9.7%, linking the cash shortfall to increased funds tied up in customer balances and higher reinvestment.

Revenue grew 26.0%, while operating income grew 39.0%, indicating that costs grew more slowly than sales and that existing operating capacity absorbed additional volume efficiently. The operating margin consequently expanded by 3.3 percentage points, a broader improvement than revenue growth alone would imply.

The balance sheet became less debt-dependent: liabilities fell 3.7% as equity rose 26.5%. Debt-to-equity ended at 0.3x and the current ratio at 2.6x, combining lower long-term leverage with substantial short-term asset coverage.

Financial Health Signals

Financial Health Score 87/100

Scored against operating companies for FY2026. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Lam Research Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Lam Research Corp has an operating margin of 35.3%, meaning the company retains $35 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is up from 32.0% the prior year.

Growth

Lam Research Corp's revenue surged 26.0% year-over-year to $23.2B, reflecting rapid business expansion. This strong growth earns a score of 76/100.

Leverage

Lam Research Corp carries a low D/E ratio of 0.30, meaning only $0.30 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 2.63, Lam Research Corp holds $2.63 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 73/100.

Cash Flow

Lam Research Corp converts 21.1% of revenue into free cash flow ($4.9B). This strong cash generation earns a score of 90/100.

Returns

Lam Research Corp earns a strong 58.3% return on equity (ROE), meaning it generates $58 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 97/100. This is up from 54.3% the prior year.

Altman Z-Score Safe

20.84

Lam Research Corp scores 20.84, well above the 2.99 safe threshold. The largest contribution to the score comes from a market capitalization of $297.2B against total liabilities of $11.1B. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Strong

8/9

Lam Research Corp passes 8 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

0.81x

For every $1 of reported earnings, Lam Research Corp generates $0.81 in operating cash flow ($5.9B OCF vs $7.3B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe

52.60x

Lam Research Corp earns $52.60 in operating income for every $1 of interest expense ($8.2B vs $155.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.2B

YoY+54.4%

QoQ+22.3%

Lam Research Corp generated $8.2B in revenue in Q1 2027. This represents an increase of 54.4% from the same quarter a year earlier. Against the prior quarter it is up 22.3%.

EBITDA

$3.4B

YoY+76.4%

QoQ+29.3%

Lam Research Corp's EBITDA was $3.4B in Q1 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 76.4% from the same quarter a year earlier. Against the prior quarter it is up 29.3%.

Net Income

$2.8B

YoY+75.5%

QoQ+20.9%

Lam Research Corp reported $2.8B in net income in Q1 2027. This represents an increase of 75.5% from the same quarter a year earlier. Against the prior quarter it is up 20.9%.

EPS (Diluted)

$2.19

YoY+76.6%

QoQ+21.0%

Lam Research Corp earned $2.19 per diluted share (EPS) in Q1 2027. This represents an increase of 76.6% from the same quarter a year earlier. Against the prior quarter it is up 21.0%.

Cash & Balance Sheet

Free Cash Flow

$3.2B

YoY+103.3%

QoQ+155.4%

Lam Research Corp generated $3.2B in free cash flow in Q1 2027, representing cash available after capex. This represents an increase of 103.3% from the same quarter a year earlier. Against the prior quarter it is up 155.4%.

Cash & Debt

$7.4B

YoY+11.1%

QoQ+33.3%

5Y CAGR+13.0%

10Y CAGR+2.4%

Lam Research Corp held $7.4B in cash against $3.7B in long-term debt as of Q1 2027.

Dividends Per Share

$0.33

YoY+26.9%

QoQ+26.9%

Lam Research Corp paid $0.33 per share in dividends in Q1 2027. This represents an increase of 26.9% from the same quarter a year earlier. Against the prior quarter it is up 26.9%.

Shares Outstanding

1.25B

YoY-0.5%

QoQ-0.2%

Lam Research Corp had 1.25B shares outstanding in Q1 2027. This represents a decrease of 0.5% from the same quarter a year earlier. Against the prior quarter it is down 0.2%.

Margins & Returns

Gross Margin

52.3%

YoY+1.9pp

QoQ+0.6pp

Lam Research Corp's gross margin was 52.3% in Q1 2027, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.

Operating Margin

40.0%

YoY+5.6pp

QoQ+2.6pp

Lam Research Corp's operating margin was 40.0% in Q1 2027, reflecting core business profitability. This is up 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.6 percentage points.

Net Margin

33.5%

YoY+4.0pp

QoQ-0.4pp

Lam Research Corp's net profit margin was 33.5% in Q1 2027, showing the share of revenue converted to profit. This is up 4.0 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.

Return on Equity

19.8%

YoY+4.4pp

QoQ+1.5pp

Lam Research Corp's quarterly ROE was 19.8% in Q1 2027: one quarter's net income over shareholder equity, not annualized. This is up 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.

Capital Allocation

R&D Spending

$666.4M

YoY+15.6%

QoQ+3.7%

Lam Research Corp invested $666.4M in research and development in Q1 2027. This represents an increase of 15.6% from the same quarter a year earlier. Against the prior quarter it is up 3.7%.

Share Buybacks

$1.0B

YoY+5.0%

QoQ+315.7%

Lam Research Corp spent $1.0B on share buybacks in Q1 2027, returning capital to shareholders by reducing shares outstanding. This represents an increase of 5.0% from the same quarter a year earlier. Against the prior quarter it is up 315.7%.

Capital Expenditures

$257.7M

YoY+39.2%

QoQ+36.5%

Lam Research Corp invested $257.7M in capex in Q1 2027, funding long-term assets and infrastructure. This represents an increase of 39.2% from the same quarter a year earlier. Against the prior quarter it is up 36.5%.

LRCX Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LRCX quarterly income statement

Metric	TTM	FY2610-K	FY2510-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Revenue	$26.1B	$23.2B+26.0%	$18.4B	$17.4B+1.2%	$17.2B+17.8%	$14.6B+45.6%	$10.0B	$11.1B+38.2%	$8.0B+36.1%	$5.9B+11.9%	$5.3B+14.2%	$4.6B	$2.7B-17.7%	$3.2B+51.7%	$2.1B+91.2%	$1.1B
Cost of Revenue	N/A	$11.5B+21.7%	$9.5B	$9.7B+3.2%	$9.4B+19.6%	$7.8B+43.9%	$5.4B	$5.9B+34.1%	$4.4B+35.0%	$3.3B+9.8%	$3.0B+14.4%	$2.6B	$1.6B-9.2%	$1.7B+49.2%	$1.2B+60.4%	$727.2M
Gross Profit	$13.3B	$11.7B+30.6%	$9.0B	$7.8B-1.2%	$7.9B+15.7%	$6.8B+47.7%	$4.6B	$5.2B+43.3%	$3.6B+37.6%	$2.6B+14.6%	$2.3B+13.8%	$2.0B	$1.1B-27.6%	$1.5B+54.4%	$969.9M+149.5%	$388.7M
R&D Expenses	$2.5B	$2.4B+13.3%	$2.1B	$1.7B+7.7%	$1.6B+7.4%	$1.5B+19.2%	$1.3B	$1.2B+15.1%	$1.0B+13.1%	$913.7M+10.7%	$825.2M+15.2%	$716.5M	$444.6M+19.1%	$373.3M+16.3%	$320.9M+11.3%	$288.3M
SG&A Expenses	$1.2B	$1.1B+17.1%	$981.7M	$832.8M-6.0%	$885.7M+6.7%	$829.9M+21.6%	$682.5M	$762.2M+14.2%	$667.5M+5.8%	$631.0M+6.7%	$591.6M-3.5%	$613.3M	$401.8M+30.4%	$308.1M+27.9%	$240.9M+3.4%	$233.1M
Operating Income	$9.7B	$8.2B+39.0%	$5.9B	$5.2B-3.8%	$5.4B+20.1%	$4.5B+67.6%	$2.7B	$3.2B+68.9%	$1.9B+77.1%	$1.1B+36.3%	$788.0M+16.3%	$677.7M	$237.7M-70.4%	$804.3M+89.1%	$425.4Mn/m	-$281.2M
EBITDA	N/A	$8.6B+37.4%	$6.3B	$5.5B-3.5%	$5.7B+19.3%	$4.8B+62.8%	$2.9B	$3.5B+60.2%	$2.2B+61.8%	$1.4B+28.1%	$1.1B+9.9%	$969.9M	$338.6M-61.5%	$879.0M+76.9%	$496.8Mn/m	-$208.8M
Interest Expense	$150.2M	$155.9M-12.0%	$177.2M	$181.9M+0.1%	$181.7M-11.4%	$205.0M+16.2%	$176.4M	$91.4M-21.1%	$115.7M-13.6%	$133.9M+82.2%	$73.5M+19.2%	$61.7M	$39.0M+624.2%	$5.4M+441.2%	$994K-84.7%	$6.5M
Income Tax	$1.3B	$997.1M+66.2%	$599.9M	$598.3M+1.8%	$587.8M+27.1%	$462.3M+43.0%	$323.2M	$771.1M+576.9%	$113.9M+147.3%	$46.1M-46.0%	$85.3M-6.4%	$91.1M	$35.7M-53.7%	$77.1M-7.6%	$83.5M+113.7%	$39.1M
Net Income	$8.4B	$7.3B+35.6%	$5.4B	$4.5B-2.0%	$4.6B+17.8%	$3.9B+73.6%	$2.3B	$2.4B+40.2%	$1.7B+85.7%	$914.0M+39.4%	$655.6M+3.7%	$632.3M	$168.7M-76.7%	$723.7M+108.8%	$346.7Mn/m	-$302.1M
EPS (Basic)	N/A	$5.79+38.8%	$4.17	$3.33	$32.92+20.9%	$27.22+75.0%	$15.55	$14.73+40.7%	$10.47+82.1%	$5.75+39.9%	$4.11+7.0%	$3.84	$1.36-76.8%	$5.86+114.7%	$2.73n/m	-$2.41
EPS (Diluted)	$6.71	$5.76+38.8%	$4.15	$3.32	$32.75+21.7%	$26.90+78.1%	$15.10	$13.17+42.5%	$9.24+77.0%	$5.22+41.1%	$3.70+2.2%	$3.62	$1.35-76.7%	$5.79+113.7%	$2.71n/m	-$2.41
Diluted Shares (Avg)	N/A	1.26B-2.3%	1.29B	1.36B	141M-3.2%	145M-2.5%	149M	181M-1.6%	184M+4.9%	175M-1.1%	177M+1.5%	175M	125M+0.2%	125M-2.4%	128M+2.0%	126M

Metric	Q1'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Revenue	$8.2B+54.4%	$6.7B+30.0%	$5.8B+23.8%	$5.3B+22.1%	$5.3B+27.7%	$5.2B	$4.7B+24.4%	$4.4B+16.4%
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$2.6B	$2.4B+20.7%	$2.3B+15.1%
Gross Profit	$4.3B+60.1%	$3.5B+34.3%	$2.9B+25.8%	$2.7B+27.9%	$2.7B+34.1%	$2.6B	$2.3B+28.5%	$2.1B+18.0%
R&D Expenses	$666.4M+15.6%	$642.9M+10.8%	$583.2M+10.9%	$573.3M+15.8%	$576.4M+16.4%	$580.2M	$525.9M+2.7%	$494.9M+5.4%
SG&A Expenses	$348.7M+24.8%	$322.3M+20.1%	$280.3M+24.0%	$267.7M+9.6%	$279.3M+14.9%	$268.4M	$226.0M+4.7%	$244.2M+6.7%
Operating Income	$3.3B+79.5%	$2.5B+44.4%	$2.0B+31.1%	$1.8B+35.7%	$1.8B+44.7%	$1.7B	$1.6B+47.7%	$1.3B+26.2%
EBITDA	$3.4B+76.4%	$2.6B+43.1%	$2.2B+30.4%	$1.9B+33.8%	$1.9B+42.1%	$1.8B	$1.7B+44.6%	$1.4B+24.6%
Interest Expense	$36.8M-13.4%	$33.2M-20.5%	$39.3M-12.9%	$40.9M-9.8%	$42.5M-5.5%	$41.8M	$45.2M-4.2%	$45.3M-2.2%
Income Tax	$559.1M+92.5%	$277.9M+371.8%	$186.1M-9.7%	$242.6M+54.4%	$290.5M+63.4%	$58.9M	$206.1M+61.8%	$157.1M+18.3%
Net Income	$2.8B+75.5%	$2.3B+32.4%	$1.8B+37.2%	$1.6B+33.8%	$1.6B+40.5%	$1.7B	$1.3B+37.8%	$1.2B+24.8%
EPS (Basic)	$2.20+77.4%	$1.82+34.8%	$1.46+40.4%	$1.27+36.6%	$1.24+44.2%	$1.35	$1.04	$0.93
EPS (Diluted)	$2.19+76.6%	$1.81+35.1%	$1.45+40.8%	$1.26+37.0%	$1.24+44.2%	$1.34	$1.03	$0.92
Diluted Shares (Avg)	1.26B-1.1%	N/A	1.26B-2.4%	1.26B-2.3%	1.27B-2.7%	N/A	1.29B	1.29B

LRCX Balance Sheet

LRCX quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Total Assets	$23.5B+10.2%	$21.3B	$18.8B+9.2%	$17.2B+8.2%	$15.9B+9.2%	$14.6B	$12.5B+3.0%	$12.1B-1.2%	$12.3B+31.0%	$9.4B+17.2%	$8.0B	$8.0B+97.5%	$4.1B+63.0%	$2.5B	N/A
Current Assets	$15.6B+7.5%	$14.5B	$13.2B+7.7%	$12.3B+5.4%	$11.7B+7.4%	$10.9B	$9.1B+0.1%	$9.1B-0.8%	$9.2B+46.9%	$6.3B+31.1%	$4.8B	$4.4B+34.9%	$3.3B+86.3%	$1.8B	N/A
Cash & Equivalents	$5.6B-12.7%	$6.4B	$5.3B+51.5%	$3.5B-20.3%	$4.4B-10.1%	$4.9B	$4.5B+89.8%	$2.4B-52.8%	$5.0B+235.6%	$1.5B+3.4%	$1.5B	$1.6B+4.9%	$1.5B+173.4%	$545.8M+45.9%	$374.2M
Short-Term Investments	$0n/m	$0	$0n/m	$0n/m	$0n/m	$0	$0n/m	$0n/m	$0-100.0%	$2.6B+59.6%	$1.6B	$1.3B+106.0%	$630.1M+124.5%	$280.7Mn/m	$0
Inventory	$4.3B-0.7%	$4.3B	$4.8B+21.4%	$4.0B+47.5%	$2.7B+41.5%	$1.9B	$1.9B+52.2%	$1.2B+26.9%	$971.9M+3.0%	$943.3M+27.4%	$740.5M	$632.9M+59.6%	$396.6M+24.5%	$318.5M	N/A
Accounts Receivable	$5.3B+58.1%	$3.4B	$2.8B-34.6%	$4.3B+42.5%	$3.0B+44.3%	$2.1B	$2.2B+30.1%	$1.7B+32.6%	$1.3B+15.4%	$1.1B+36.6%	$800.6M	$765.8M+29.7%	$590.6M+18.1%	$499.9M	N/A
Long-Term Investments	$0n/m	$0	$0n/m	$0n/m	$0n/m	$0	$0n/m	$0n/m	$0n/m	$0n/m	$0	$0n/m	$0n/m	$0n/m	$0
Goodwill	$1.6B0.0%	$1.6B	$1.6B+7.1%	$1.5B+1.7%	$1.5B+0.4%	$1.5B	$1.5B+7.2%	$1.4B0.0%	$1.4B-0.1%	$1.4B-5.4%	$1.5B	$1.4B+754.9%	$169.2M0.0%	$169.2M	N/A
Total Liabilities	$11.1B-3.7%	$11.5B	$10.6B-3.2%	$10.9B+10.7%	$9.9B+5.2%	$9.4B	$5.8B+12.4%	$5.1B-16.7%	$6.2B+53.3%	$4.0B+44.6%	$2.8B	$2.7B+69.3%	$1.6B+120.2%	$719.3M	N/A
Current Liabilities	$5.9B-9.6%	$6.6B	$4.2B-8.3%	$4.6B+29.4%	$3.5B+11.6%	$3.2B	$3.2B+6.8%	$3.0B+22.0%	$2.4B-8.1%	$2.6B+66.3%	$1.6B	$1.4B+109.6%	$680.8M+21.9%	$558.7M	N/A
Non-Current Liabilities	$5.1B+4.2%	$4.9B	$6.4B+0.5%	$6.4B+0.2%	$6.3B+2.0%	$6.2B	$2.6B+20.0%	$2.2B-41.6%	$3.7B+169.7%	$1.4B+15.9%	$1.2B	$1.3B+39.0%	$903.3M+462.4%	$160.6M	N/A
Long-Term Debt	$3.7B+0.1%	$3.7B	$5.0B+0.1%	$5.0B0.0%	$5.0B0.0%	$5.0B	$1.8B-1.0%	$1.8B-47.3%	$3.4B+239.8%	$994.0M+23.2%	$806.9M	$749.3M-16.8%	$900.7M+5004.4%	$17.6M	N/A
Total Equity	$12.5B+26.5%	$9.9B	$8.2B+30.8%	$6.3B+4.2%	$6.0B+16.5%	$5.2B	$6.6B-2.6%	$6.8B+15.7%	$5.9B+15.5%	$5.1B+1.5%	$5.0B	$5.1B+107.8%	$2.5B+39.7%	$1.8B+21.7%	$1.5B
Retained Earnings	$35.0B+20.6%	$29.0B	$22.0B+19.4%	$18.5B+25.7%	$14.7B+27.5%	$11.5B	$8.3B+32.2%	$6.2B+29.7%	$4.8B+17.7%	$4.1B+14.6%	$3.6B	$2.9B+6.3%	$2.7B+36.8%	$2.0B	N/A

Metric	Q1'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Total Assets	$26.4B+20.3%	$23.5B+10.2%	$20.8B+4.1%	$21.4B+7.8%	$21.9B+12.1%	$21.3B+13.9%	$20.0B+9.2%	$19.8B+5.6%
Current Assets	$18.1B+22.4%	$15.6B+7.5%	$13.3B-1.2%	$14.0B+3.0%	$14.8B+9.7%	$14.5B+12.7%	$13.5B+7.8%	$13.6B+4.3%
Cash & Equivalents	$7.4B+11.1%	$5.6B-12.7%	$4.8B-12.8%	$6.2B+9.1%	$6.7B+10.3%	$6.4B+9.3%	$5.5B-3.9%	$5.7B+0.7%
Short-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Inventory	$4.6B+11.1%	$4.3B-0.7%	$4.0B-10.4%	$4.0B-7.4%	$4.1B-2.7%	$4.3B+2.1%	$4.5B+3.2%	$4.4B-1.6%
Accounts Receivable	$5.7B+55.7%	$5.3B+58.1%	$4.1B+28.0%	$3.5B+5.7%	$3.6B+23.7%	$3.4B+34.1%	$3.2B+46.5%	$3.3B+22.1%
Long-Term Investments	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m	$0n/m
Goodwill	N/A	$1.6B0.0%	N/A	N/A	N/A	$1.6B+1.9%	N/A	N/A
Total Liabilities	$12.4B+6.3%	$11.1B-3.7%	$10.2B-2.4%	$11.2B+1.9%	$11.7B+5.8%	$11.5B+12.5%	$10.5B+1.9%	$11.0B+4.5%
Current Liabilities	$7.3B+9.0%	$5.9B-9.6%	$5.2B-4.5%	$6.2B+16.1%	$6.7B+25.6%	$6.6B+51.4%	$5.5B+23.9%	$5.4B+25.2%
Non-Current Liabilities	$5.1B+2.7%	$5.1B+4.2%	$5.0B-0.1%	$5.0B-11.4%	$5.0B-12.6%	$4.9B-16.2%	$5.0B-14.8%	$5.7B-9.7%
Long-Term Debt	$3.7B+0.1%	$3.7B+0.1%	$3.7B0.0%	$3.7B-16.7%	$3.7B-16.7%	$3.7B-16.7%	$3.7B-16.7%	$4.5B-10.1%
Total Equity	$13.9B+36.5%	$12.5B+26.5%	$10.6B+11.3%	$10.1B+15.2%	$10.2B+20.3%	$9.9B+15.5%	$9.5B+18.6%	$8.8B+7.1%
Retained Earnings	$37.3B+23.4%	$35.0B+20.6%	$33.0B+19.7%	$31.5B+18.7%	$30.2B+17.9%	$29.0B+16.8%	$27.6B+14.6%	$26.5B+13.6%

LRCX Cash Flow Statement

LRCX quarterly cash flow statement

Metric	TTM	FY2610-K	FY2510-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Operating Cash Flow	$7.6B	$5.9B-5.1%	$6.2B	$5.2B+67.1%	$3.1B-13.6%	$3.6B+68.7%	$2.1B	$2.7B+30.9%	$2.0B+50.3%	$1.4B+71.9%	$785.5M+9.1%	$719.9M	$499.0M-43.4%	$881.0M+151.2%	$350.7Mn/m	-$78.1M
Depreciation & Amortization	N/A	$441.5M+14.3%	$386.3M	$342.4M+2.6%	$333.7M+8.7%	$307.2M+14.4%	$268.5M	$326.4M+6.4%	$306.9M+5.5%	$291.0M+4.7%	$277.9M-4.9%	$292.3M	$100.8M+34.9%	$74.8M+4.7%	$71.4M-1.4%	$72.4M
Stock-Based Compensation	N/A	$386.4M+12.5%	$343.4M	$286.6M+10.6%	$259.1M+17.7%	$220.2M+16.4%	$189.2M	$172.2M+14.8%	$150.0M+5.4%	$142.3M+5.2%	$135.4M+30.5%	$103.7M	$81.6M+53.9%	$53.0M+5.1%	$50.5M-4.9%	$53.0M
Capital Expenditures	$1.0B	$966.4M+27.3%	$759.2M	$501.6M-8.1%	$546.0M+56.4%	$349.1M+71.8%	$203.2M	$273.5M+73.7%	$157.4M-10.2%	$175.3M-11.6%	$198.3M+36.3%	$145.5M	$107.3M-15.9%	$127.5M+258.2%	$35.6M-19.6%	$44.3M
Free Cash Flow	$6.5B	$4.9B-9.7%	$5.4B	$4.7B+83.2%	$2.6B-21.2%	$3.2B+68.4%	$1.9B	$2.4B+27.3%	$1.9B+59.3%	$1.2B+100.1%	$587.2M+2.2%	$574.4M	$391.8M-48.0%	$753.5M+139.1%	$315.1Mn/m	-$122.4M
Investing Cash Flow	-$1.0B	-$922.2Mn/m	-$708.1M	-$534.6M-187.3%	$612.3M+735.6%	$73.3Mn/m	-$244.1M	$2.7Bn/m	-$2.1B	N/A	N/A	-$238.6M	$269.7Mn/m	-$479.9Mn/m	-$103.4M-1821.2%	$6.0M
Financing Cash Flow	-$5.8B	-$5.7Bn/m	-$4.9B	-$2.8Bn/m	-$4.6Bn/m	-$4.2Bn/m	-$623.9M	-$3.3Bn/m	-$2.6B	N/A	N/A	-$887.8M	-$692.7M-231.5%	$527.0Mn/m	-$72.7Mn/m	-$260.8M
Dividends Paid	$1.3B	$1.3B+10.5%	$1.1B	$907.9M+11.4%	$815.3M+12.1%	$727.0M+10.7%	$656.8M	$307.6M+26.3%	$243.5M+27.9%	$190.4M+64.1%	$116.1Mn/m	$0	N/A	N/A	N/A	N/A
Share Buybacks	$3.9B	$3.9B+12.5%	$3.4B	$2.0B-47.8%	$3.9B+43.3%	$2.7B+97.0%	$1.4B	$2.7B+226.9%	$811.7M+412.5%	$158.4M-72.4%	$573.2M+134.1%	$244.9M	$772.7M+265.6%	$211.3M+127.1%	$93.0M+200.6%	$30.9M

Metric	Q1'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Operating Cash Flow	$3.5B+96.6%	$1.5B-42.9%	$1.1B-12.8%	$1.5B+99.5%	$1.8B+13.4%	$2.6B	$1.3B-5.5%	$741.9M-49.0%
Depreciation & Amortization	$122.1M+20.1%	$119.6M+21.5%	$116.3M+19.5%	$103.9M+8.0%	$101.6M+7.8%	$98.4M	$97.3M+8.3%	$96.2M+5.8%
Stock-Based Compensation	$114.7M+18.0%	N/A	$96.6M+10.9%	$88.5M+8.0%	$97.2M+21.5%	N/A	$87.1M+13.4%	$82.0M+17.3%
Capital Expenditures	$257.7M+39.2%	$188.8M+9.6%	$331.6M+15.1%	$260.9M+38.5%	$185.1M+67.4%	$172.2M	$288.1M+177.9%	$188.3M+63.4%
Free Cash Flow	$3.2B+103.3%	$1.3B-46.7%	$809.8M-20.7%	$1.2B+120.2%	$1.6B+9.3%	$2.4B	$1.0B-20.3%	$553.6M-58.6%
Investing Cash Flow	-$267.0Mn/m	-$143.7Mn/m	-$334.6Mn/m	-$257.8Mn/m	-$186.0Mn/m	-$129.3M	-$292.9Mn/m	-$175.4Mn/m
Financing Cash Flow	-$1.4Bn/m	-$480.3Mn/m	-$2.2Bn/m	-$1.7Bn/m	-$1.3Bn/m	-$1.5B	-$1.2Bn/m	-$935.2Mn/m
Dividends Paid	$325.4M+11.4%	$325.3M+10.2%	$325.8M+10.2%	$327.5M+10.0%	$292.0M+11.9%	$295.2M	$295.7M+12.6%	$297.6M+12.6%
Share Buybacks	$1.0B+5.0%	$246.6M-80.9%	$1.2B+167.1%	$1.5B+110.1%	$975.8M-2.1%	$1.3B	$435.3M-55.6%	$697.7M+8.1%

LRCX Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

LRCX quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1210-K	FY1110-K	FY1010-K	FY0910-K
Gross Margin	50.5%+1.8pp	48.7%	44.6%-1.1pp	45.7%-0.8pp	46.5%+0.7pp	45.9%	46.6%+1.7pp	45.0%+0.5pp	44.5%+1.1pp	43.4%-0.1pp	43.6%	40.7%-5.6pp	46.2%+0.8pp	45.5%+10.6pp	34.8%
Operating Margin	35.3%+3.3pp	32.0%	29.7%-1.6pp	31.2%+0.6pp	30.6%+4.0pp	26.6%	29.0%+5.3pp	23.7%+5.5pp	18.3%+3.3pp	15.0%+0.3pp	14.7%	8.9%-15.9pp	24.8%+4.9pp	19.9%+45.1pp	-25.2%
Net Margin	31.3%+2.2pp	29.1%	25.9%-0.9pp	26.7%0.0pp	26.7%+4.3pp	22.4%	21.5%+0.3pp	21.2%+5.7pp	15.5%+3.1pp	12.5%-1.2pp	13.7%	6.3%-16.0pp	22.4%+6.1pp	16.3%+43.3pp	-27.1%
Return on Equity	58.3%+3.9pp	54.3%	54.9%-18.4pp	73.4%+8.5pp	64.8%+21.3pp	43.5%	35.9%+10.9pp	24.9%+9.4pp	15.5%+2.7pp	12.8%+0.3pp	12.6%	3.3%-26.0pp	29.3%+9.7pp	19.6%+40.4pp	-20.8%
Return on Assets	30.9%+5.8pp	25.1%	24.0%-2.8pp	26.8%+2.2pp	24.6%+9.1pp	15.5%	19.1%+5.1pp	14.0%+6.6pp	7.4%+0.4pp	7.0%-0.9pp	7.9%	2.1%-15.7pp	17.8%+3.9pp	13.9%	N/A
Current Ratio	2.63+0.4x	2.21	3.16+0.5x	2.69-0.6x	3.30-0.1x	3.43	2.90-0.2x	3.10-0.7x	3.81+1.4x	2.38-0.6x	3.02	3.09-1.7x	4.81+1.7x	3.14	N/A
Debt-to-Equity	0.30-0.1x	0.38	0.60-0.2x	0.790.0x	0.82-0.1x	0.96	0.270.0x	0.26-0.3x	0.57+0.4x	0.190.0x	0.16	0.15-0.2x	0.36+0.4x	0.01	N/A
Liabilities-to-Equity	0.89-0.3x	1.16	1.29-0.5x	1.74+0.1x	1.64-0.2x	1.81	0.87+0.1x	0.75-0.3x	1.05+0.3x	0.79+0.2x	0.55	0.52-0.1x	0.64+0.2x	0.41	N/A
Asset Turnover	0.99+0.1x	0.86	0.93-0.1x	1.00+0.1x	0.92+0.2x	0.69	0.89+0.2x	0.66+0.2x	0.48-0.1x	0.560.0x	0.58	0.33-0.5x	0.80-0.1x	0.86	N/A
FCF Margin	21.1%-8.3pp	29.4%	26.8%+12.0pp	14.8%-7.3pp	22.1%+3.0pp	19.1%	21.5%-1.8pp	23.4%+3.4pp	20.0%+8.8pp	11.2%-1.3pp	12.5%	14.7%-8.6pp	23.3%+8.5pp	14.8%+25.7pp	-11.0%

Metric	Q1'2710-Q	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q
Gross Margin	52.3%+1.9pp	51.7%+1.7pp	49.8%+0.8pp	49.6%+2.2pp	50.4%+2.4pp	50.1%	49.0%+1.6pp	47.4%+0.6pp
Operating Margin	40.0%+5.6pp	37.4%+3.7pp	35.0%+1.9pp	33.9%+3.4pp	34.4%+4.0pp	33.7%	33.1%+5.2pp	30.5%+2.4pp
Net Margin	33.5%+4.0pp	33.9%+0.6pp	31.3%+3.1pp	29.8%+2.6pp	29.5%+2.7pp	33.3%	28.2%+2.7pp	27.2%+1.8pp
Return on Equity	19.8%+4.4pp	18.3%+0.8pp	17.3%+3.3pp	15.7%+2.2pp	15.4%+2.2pp	17.4%	14.0%+2.0pp	13.5%+1.9pp
Return on Assets	10.4%+3.3pp	9.7%+1.6pp	8.8%+2.1pp	7.4%+1.4pp	7.2%+1.4pp	8.1%	6.7%+1.4pp	6.0%+0.9pp
Current Ratio	2.48+0.3x	2.63+0.4x	2.54+0.1x	2.26-0.3x	2.21-0.3x	2.21-0.8x	2.45-0.4x	2.54-0.5x
Debt-to-Equity	0.27-0.1x	0.30-0.1x	0.350.0x	0.37-0.1x	0.37-0.2x	0.38-0.1x	0.39-0.2x	0.51-0.1x
Liabilities-to-Equity	0.89-0.3x	0.89-0.3x	0.96-0.1x	1.11-0.1x	1.15-0.2x	1.160.0x	1.10-0.2x	1.250.0x
Asset Turnover	0.31+0.1x	0.290.0x	0.280.0x	0.250.0x	0.240.0x	0.24	0.240.0x	0.220.0x
FCF Margin	39.4%+9.5pp	18.9%-27.2pp	13.9%-7.8pp	22.8%+10.2pp	29.9%-5.0pp	46.1%	21.6%-12.2pp	12.7%-23.0pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Lam Research Corp LRCX	FY2026	$23.2B	$7.3B	31.3%	$297.2B	87/100
Applied Materials, Inc. AMAT	FY2025	$28.4B	$7.0B	24.7%	$307.6B	81/100
KLA Corporation KLAC	FY2026	$13.6B	$4.8B	35.6%	$194.7B	82/100
Teradyne, Inc. TER	FY2025	$3.2B	$554.0M	17.4%	$48.3B	69/100
ASML Holding N.V. ASML	FY2025	$38.3B	$11.3B	29.4%	$613.2B	81/100
Entegris Inc ENTG	FY2025	$3.2B	$235.6M	7.4%	$21.4B	50/100

Where Lam Research Corp Ranks

Frequently Asked Questions

What is Lam Research Corp's annual revenue?

Lam Research Corp (LRCX) reported $23.2B in total revenue for fiscal year 2026. This represents a 26.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lam Research Corp's revenue growing?

Lam Research Corp (LRCX) revenue grew by 26.0% year-over-year, from $18.4B to $23.2B in fiscal year 2026.

Is Lam Research Corp profitable?

Yes, Lam Research Corp (LRCX) reported a net income of $8.4B over the trailing 12 months to September 27, 2026. In fiscal year 2026 it reported a net income of $7.3B, with a net profit margin of 31.3%.

What is Lam Research Corp's EBITDA?

Lam Research Corp (LRCX) had EBITDA of $8.6B in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Lam Research Corp have?

As of fiscal year 2026, Lam Research Corp (LRCX) had $5.6B in cash and equivalents against $3.7B in long-term debt.

What is Lam Research Corp's gross margin?

Lam Research Corp (LRCX) had a gross margin of 50.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Lam Research Corp's operating margin?

Lam Research Corp (LRCX) had an operating margin of 35.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Lam Research Corp's net profit margin?

Lam Research Corp (LRCX) had a net profit margin of 31.3% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

Does Lam Research Corp pay dividends?

Yes, Lam Research Corp (LRCX) paid $1.04 per share in dividends during fiscal year 2026.

What is Lam Research Corp's return on equity (ROE)?

Lam Research Corp (LRCX) has a return on equity of 58.3% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Lam Research Corp's free cash flow?

Lam Research Corp (LRCX) generated $4.9B in free cash flow during fiscal year 2026. This represents a -9.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Lam Research Corp's operating cash flow?

Lam Research Corp (LRCX) generated $5.9B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Lam Research Corp's total assets?

Lam Research Corp (LRCX) had $23.5B in total assets as of fiscal year 2026, including both current and long-term assets.

What are Lam Research Corp's capital expenditures?

Lam Research Corp (LRCX) invested $966.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Lam Research Corp spend on research and development?

Lam Research Corp (LRCX) invested $2.4B in research and development during fiscal year 2026.

Does Lam Research Corp buy back shares?

Yes, Lam Research Corp (LRCX) spent $3.9B on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Lam Research Corp have outstanding?

Lam Research Corp (LRCX) had 1.25B shares outstanding as of fiscal year 2026.

What is Lam Research Corp's current ratio?

Lam Research Corp (LRCX) had a current ratio of 2.63 as of fiscal year 2026, which is generally considered healthy.

What is Lam Research Corp's debt-to-equity ratio?

Lam Research Corp (LRCX) had a debt-to-equity ratio of 0.30 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.

What is Lam Research Corp's liabilities-to-equity ratio?

Lam Research Corp (LRCX) had a liabilities-to-equity ratio of 0.89 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.

What is Lam Research Corp's return on assets (ROA)?

Lam Research Corp (LRCX) had a return on assets of 30.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Lam Research Corp's P/E ratio?

Lam Research Corp (LRCX) trades at 35.2x earnings, its market capitalization divided by $8.4B net income, trailing 12 months to September 27, 2026. The market capitalization is $297.2B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lam Research Corp's price-to-sales ratio?

Lam Research Corp (LRCX) trades at 11.4x sales, its market capitalization divided by $26.1B revenue, trailing 12 months to September 27, 2026. The market capitalization is $297.2B as of Oct 26, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Lam Research Corp's Altman Z-Score?

Lam Research Corp (LRCX) has an Altman Z-Score of 20.84, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Lam Research Corp's Piotroski F-Score?

Lam Research Corp (LRCX) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lam Research Corp's earnings high quality?

Lam Research Corp (LRCX) has an earnings quality ratio of 0.81x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Lam Research Corp cover its interest payments?

Lam Research Corp (LRCX) has an interest coverage ratio of 52.60x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Lam Research Corp?

Lam Research Corp (LRCX) scores 87 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.