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Lam Research Corporation

Lam Research Corporation

NASDAQ•LRCX
CEO: Mr. Timothy M. Archer
Sector: Technology
Industry: Semiconductors
Listing Date: 1984-05-04
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; and VECTOR plasma-enhanced CVD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. In addition, the company offers Flex for dielectric etch applications; Vantex, a dielectric etch system that provides RF technology and repeatable wafer-to-wafer performance enabled by Equipment Intelligence solutions; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; and Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications. The company sells its products in the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.
Contact Information
4650 Cushing Parkway, Fremont, CA, 94538, United States
510-572-0200
www.lamresearch.com
Market Cap
$201.68B
P/E (TTM)
34.9
69.7
Dividend Yield
0.6%
52W High
$169.69
52W Low
$56.32
52W Range
92%
Rank20Top 4.7%
6.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q1 2026 Data

Revenue

$5.32B+27.74%
4-Quarter Trend

EPS

$1.24+44.19%
4-Quarter Trend

FCF

$1.59B+9.33%
4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Revenue Growth Strong Revenue reached $5.32B USD, up 27.8% compared to prior year period, driven by systems sales.
Net Income Surges Net income totaled $1.57B USD, marking a substantial 40.5% increase year-over-year from $1.12B USD.
Margin Expansion Achieved Gross margin percentage improved to 50.4% from 48.0% year-over-year due to favorable changes in customer mix.
Strong EPS Performance Diluted EPS reached $1.24 USD, showing strong 44.2% growth from $0.86 USD reported previously.

Risk Factors

Technological Obsolescence Risk Failure to develop correct technology solutions timely risks market share loss and inventory obsolescence across product lines.
Customer Concentration Risk Sales heavily reliant on few large customers; failure of one key customer impacts overall financial results significantly.
Geopolitical Trade Uncertainty Trade restrictions, tariffs, and export license requirements impacting sales to China, a key geographic revenue region.
Supply Chain Disruptions Risk Shortages of parts or materials, or supplier failures, could impair ability to meet demand and increase operating costs.

Outlook

Liquidity Position Robust Cash, cash equivalents, and restricted cash totaled $6.71B USD, sufficient for anticipated operations next twelve months.
Future Demand Drivers Strong Secular demand for semiconductors and technology inflections like 3D scaling drive sustainable long-term market growth.
Share Repurchase Authorized Board authorized $10.0B USD for ongoing Common Stock repurchase program; no termination date specified for this plan.
R&D Investment Continues Continued significant R&D investments focused on leading-edge deposition, etch, and clean manufacturing processes.

Peer Comparison

Revenue (TTM)

Sony Group CorporationSONY
$85.76B
-2.9%
Intel CorporationINTC
$53.44B
-1.5%
QUALCOMM IncorporatedQCOM
$44.28B
+13.7%

Gross Margin (Latest Quarter)

Intuit Inc.INTU
78.8%
+3.9pp
Arista Networks IncANET
64.6%
+0.4pp
KLA CorporationKLAC
61.3%
+1.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
MU$269.11B31.517.0%18.5%
AMAT$206.42B29.436.1%18.1%
LRCX$201.68B34.960.6%20.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
6.8%
Steady Growth
4Q Net Income CAGR
9.6%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 4, 2026
|
EPS:$1.15
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q1 2026

    Period End: Sep 28, 2025|Filed: Oct 24, 2025|
    Revenue: $5.32B+27.7%
    |
    EPS: $1.24+44.2%
    N/A
  • Form 10-K - FY 2025

    Period End: Jun 29, 2025|Filed: Aug 11, 2025|
    Revenue: $18.44B+23.7%
    |
    EPS: $4.17+43.3%
    Beat
  • Form 10-Q - Q3 2025

    Period End: Mar 30, 2025|Filed: Apr 25, 2025|
    Revenue: $4.72B+24.4%
    |
    EPS: $1.04+40.5%
    Beat
  • Form 10-Q - Q2 2025

    Period End: Dec 29, 2024|Filed: Jan 31, 2025|
    Revenue: $4.38B+16.4%
    |
    EPS: $0.93+27.4%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Sep 29, 2024|Filed: Oct 28, 2024|
    Revenue: $4.17B+19.7%
    |
    EPS: $0.86+28.4%
    Beat
  • Form 10-K - FY 2024

    Period End: Jun 30, 2024|Filed: Aug 29, 2024|
    Revenue: $14.91B-14.5%
    |
    EPS: $2.91-12.6%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Mar 31, 2024|Filed: Apr 29, 2024|
    Revenue: $3.79B-2.0%
    |
    EPS: $0.74+23.3%
    Meet
  • Form 10-Q - Q2 2024

    Period End: Dec 24, 2023|Filed: Jan 29, 2024|
    Revenue: $3.76B-28.8%
    |
    EPS: $0.73-32.4%
    Meet