LAM RESEARCH CORP LRCX

Industrials SIC 3559 - Special Industry Machinery, NEC NAICS Manufacturing › Machinery Manufacturing › Industrial Machinery Manufacturing › Semiconductor Machinery Manufacturing derived Nasdaq

Incorporated in 1980, Lam Research Corporation ("Lam Research," "Lam," "we," "our," "us," or the "Company") is a Delaware corporation, headquartered in Fremont, California. We maintain a network of facilities throughout Asia, Europe, and the United States in order to meet the needs of our dynamic customer base.

The Lam Research logo, Lam Research, and all product and service names used in this report are either registered trademarks or trademarks of Lam Research Corporation or its subsidiaries in the United States and/or other countries. All other marks mentioned herein are the property of their respective holders.

We are a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. We have built a strong global presence with core competencies in areas such as nanoscale manufacturing enablement, chemistry, plasma and fluidics, advanced systems engineering, and a broad range of operational disciplines. Our products and services are designed to help our customers build smaller and better performing devices that are used in a variety of electronic products, including mobile phones, personal computers, cloud and enterprise servers, wearables, automotive vehicles, and data storage devices.

Last close 230.10 2026-10-23
Market cap $287.93B 2026-06-28 share count
52-week range 135.50 - 438.50

Valuation FY2026 figures against the last close

P/S12.4x
P/E39.9x
P/FCF58.9x
EV/EBITDA33.3x
Dividend yield0.4%
Diluted EPS5.76

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • China
  • Taiwan
  • Korea
  • Japan
  • United States
  • Southeast Asia
  • Europe
Revenue by geography, 7 categories over 3 years. The same figures are in the table below. FY2026 China, FY2026: 7.9B (33.8%) 34% China Taiwan, FY2026: 5.2B (22.5%) 22% Taiwan Korea, FY2026: 4.5B (19.4%) 19% Korea Japan, FY2026: 2.2B (9.3%) 9% Japan United States, FY2026: 1.5B (6.6%) 7% Southeast Asia, FY2026: 1.2B (5.4%) 5% Europe, FY2026: 698.7M (3.0%) FY2025 China, FY2025: 6.2B (33.7%) 34% Taiwan, FY2025: 3.4B (18.7%) 19% Korea, FY2025: 4.1B (22.4%) 22% Japan, FY2025: 1.9B (10.2%) 10% United States, FY2025: 1.4B (7.5%) 7% Southeast Asia, FY2025: 837.2M (4.5%) 5% Europe, FY2025: 562.6M (3.1%) FY2024 China, FY2024: 6.3B (42.2%) 42% Taiwan, FY2024: 1.7B (11.2%) 11% Korea, FY2024: 2.9B (19.3%) 19% Japan, FY2024: 1.5B (9.8%) 10% United States, FY2024: 1.1B (7.4%) 7% Southeast Asia, FY2024: 794.1M (5.3%) 5% Europe, FY2024: 707M (4.7%) 5%
Region FY2026FY2025FY2024
China $7.86B $6.21B $6.29B
Taiwan $5.22B $3.45B $1.67B
Korea $4.51B $4.13B $2.87B
Japan $2.17B $1.88B $1.46B
United States $1.53B $1.38B $1.10B
Southeast Asia $1.25B $837.2M $794.1M
Europe $698.7M $562.6M $707.0M

As the company reported it, from the “Segment, Geographic Information and Major Customers - Schedule of Revenues and Long-lived Assets by Geographic Region (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $23.23B$18.44B$14.91B$17.43B$17.23B$14.63B$10.04B$9.65B$11.08B$8.01B
Cost of revenue $11.51B$9.46B$7.85B$9.65B$9.36B$7.82B$5.44B$5.30B$5.91B$4.41B
Gross profit $11.73B$8.98B$7.05B$7.78B$7.87B$6.81B$4.61B$4.36B$5.17B$3.60B
R&D $2.38B$2.10B$1.90B$1.73B$1.60B$1.49B$1.25B$1.19B$1.19B$1.03B
SG&A $1.15B$981.7M$868.2M$832.8M$885.7M$829.9M$682.5M$702.4M$762.2M$667.5M
Total operating expenses $3.53B$3.08B$2.79B$2.60B$2.49B$2.32B$1.93B$1.89B$1.95B$1.70B
Operating income $8.20B$5.90B$4.26B$5.17B$5.38B$4.48B$2.67B$2.46B$3.21B$1.90B
Interest expense $156.9M$178.2M$185.2M$186.5M$184.8M$208.6M$177.4M$117.3M$97.4M$117.7M
Pre-tax income $8.26B$5.96B$4.36B$5.11B$5.19B$4.37B$2.57B$2.45B$3.15B$1.81B
Income tax $997.1M$599.9M$532.5M$598.3M$587.8M$462.3M$323.2M$255.1M$771.1M$113.9M
Net income $7.27B$5.36B$3.83B$4.51B$4.61B$3.91B$2.25B$2.19B$2.38B$1.70B
EPS, basic 5.794.172.913.3332.9227.2215.5514.3714.7310.47
EPS, diluted 5.764.152.903.3232.7526.9015.1013.7013.179.24
Shares, diluted (wtd. avg.) 1.26B1.29B1.32B1.36B140.6M145.3M149.1M159.9M180.8M183.8M

Balance sheet

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $5.58B$6.39B$5.85B$5.59B$3.77B$4.67B$5.17B$3.91B$4.77B$2.63B
Receivables $5.34B$3.38B$2.52B$2.82B$4.31B$3.03B$2.10B$1.46B$2.18B$1.67B
Inventory $4.28B$4.31B$4.22B$4.82B$3.97B$2.69B$1.90B$1.54B$1.88B$1.23B
Total current assets $15.61B$14.52B$12.88B$13.23B$12.29B$11.65B$10.85B$8.56B$9.15B$9.14B
Property, plant and equipment $2.94B$2.41B$2.13B$1.80B$1.61B$1.26B$1.05B$1.06B$902.5M$685.6M
Goodwill $1.63B$1.63B$1.60B$1.62B$1.52B$1.49B$1.48B$1.48B$1.48B$98.9M
Other intangibles $269.3M$182.2M$138.5M$168.5M$101.8M$132.4M$168.5M$216.9M$317.8M$411.0M
Total assets $23.53B$21.35B$18.74B$18.78B$17.20B$15.89B$14.56B$12.00B$12.48B$12.12B
Accounts payable $1.30B$854.2M$614.0M$470.7M$1.01B$829.7M$592.4M$376.6M$511.0M$464.6M
Short-term debt $147.0K$749.7M$501.3M$421.0K$0$0$836.1M$662.3M$608.5M$907.8M
Total current liabilities $5.94B$6.57B$4.34B$4.18B$4.56B$3.53B$3.16B$2.37B$3.15B$2.95B
Long-term debt $3.72B$3.72B$4.47B$4.96B$4.96B$4.96B$4.96B$3.77B$1.76B$1.78B
Total liabilities $11.06B$11.48B$10.21B$10.57B$10.92B$9.86B$9.38B$7.28B$5.90B$5.14B
Retained earnings $34.95B$28.99B$24.81B$22.03B$18.45B$14.68B$11.52B$9.93B$8.26B$6.25B
Total equity $12.47B$9.86B$8.54B$8.21B$6.28B$6.03B$5.17B$4.67B$6.50B$6.82B

Cash flow

Fiscal year FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $5.86B$6.17B$4.65B$5.18B$3.10B$3.59B$2.13B$3.18B$2.66B$2.03B
Depreciation and amortisation $383.9M$329.5M$299.0M$282.8M$248.2M$229.8M$198.8M$182.1M$165.2M$152.3M
Stock-based compensation $386.4M$343.4M$293.1M$286.6M$259.1M$220.2M$189.2M$187.2M$172.2M$150.0M
Capital expenditure $966.4M$759.2M$396.7M$501.6M$546.0M$349.1M$203.2M$303.5M$273.5M$157.4M
Investing cash flow -$922.2M-$708.1M-$370.6M-$534.6M$612.3M$73.3M-$244.1M-$1.64B$2.75B-$2.05B
Financing cash flow -$5.72B-$4.94B-$4.00B-$2.83B-$4.58B-$4.17B-$623.9M-$2.39B-$3.27B-$2.63B
Dividends paid $1.27B$1.15B$1.02B$907.9M$815.3M$727.0M$656.8M$678.3M$307.6M$243.5M
Buybacks $3.85B$3.42B$2.84B$2.02B$3.87B$2.70B$1.37B$3.78B$2.65B$811.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000707549-26-000037.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B Revenue, FY2017: 8B Gross profit, FY2017: 3.6B Net income, FY2017: 1.7B Revenue, FY2018: 11.1B Gross profit, FY2018: 5.2B Net income, FY2018: 2.4B Revenue, FY2019: 9.7B Gross profit, FY2019: 4.4B Net income, FY2019: 2.2B Revenue, FY2020: 10B Gross profit, FY2020: 4.6B Net income, FY2020: 2.3B Revenue, FY2021: 14.6B Gross profit, FY2021: 6.8B Net income, FY2021: 3.9B Revenue, FY2022: 17.2B Gross profit, FY2022: 7.9B Net income, FY2022: 4.6B Revenue, FY2023: 17.4B Gross profit, FY2023: 7.8B Net income, FY2023: 4.5B Revenue, FY2024: 14.9B Gross profit, FY2024: 7.1B Net income, FY2024: 3.8B Revenue, FY2025: 18.4B Gross profit, FY2025: 9B Net income, FY2025: 5.4B Revenue, FY2026: 23.2B Gross profit, FY2026: 11.7B Net income, FY2026: 7.3B FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue $8.01B $11.08B $9.65B $10.04B $14.63B $17.23B $17.43B $14.91B $18.44B $23.23B
Gross profit $3.60B $5.17B $4.36B $4.61B $6.81B $7.87B $7.78B $7.05B $8.98B $11.73B
Net income $1.70B $2.38B $2.19B $2.25B $3.91B $4.61B $4.51B $3.83B $5.36B $7.27B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Officer or director change Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 3559

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AZTA Azenta, Inc. $1.60B — 3.6%
CRCT Cricut, Inc. $1.31B 17.9x -0.5%
ERII Energy Recovery, Inc. $341.0M 15.9x -6.9%
ASYS AMTECH SYSTEMS INC $217.5M — -21.6%
VELO Velo3D, Inc. $213.5M — 12.1%