Lam Research Corporation
LRCXNASDAQ
$226.29
Last price · USD
- Market cap
- $285.4B
- P/E
- 39.3x
- EV / EBITDA
- 32.6x
- P/S
- 12.3x
- FCF yield
- 1.7%
- Div. yield
- 0.45%
Multiples use last price and FY2026 annual figures. Market cap estimated from diluted shares.
Revenue
$23.23B
+26.0%
4Y CAGR +7.8%
Gross profit
$11.73B
+30.6%
4Y CAGR +10.5%
Operating income
$8.20B
+39.0%
4Y CAGR +11.1%
Net income
$7.27B
+35.6%
4Y CAGR +12.1%
EPS (diluted)
$5.76
+38.8%
4Y CAGR +15.2%
Free cash flow
$4.89B
-9.7%
4Y CAGR +17.6%
Revenue & net income
Fiscal 2022–2026 · USD
RevenueNet income
Valuation
At $226.29 · FY2026 fundamentals
- Market cap
- $285.4B
- Enterprise value
- $283.9B
- P/E
- 39.3x
- P/S
- 12.3x
- P/B
- 22.9x
- EV / EBITDA
- 32.6x
- EV / Sales
- 12.2x
- Earnings yield
- 2.5%
- FCF yield
- 1.7%
- Shareholder yield
- 1.8%
Profitability
Margins as a share of revenue
| Metric | Latest | 4Y ago | Trend |
|---|---|---|---|
| Gross margin | 50.5%+4.8pp | 45.7% | |
| Operating margin | 35.3%+4.1pp | 31.2% | |
| EBITDA margin | 37.5%+4.3pp | 33.2% | |
| Net margin | 31.3%+4.5pp | 26.7% | |
| FCF margin | 21.1%+6.2pp | 14.8% |
Returns & financial health
FY2026 with 4-year trend
| Metric | Latest | 4Y ago | Trend |
|---|---|---|---|
| Return on equity | 58.3% | 73.4% | |
| Return on invested capital | 65.5% | 61.5% | |
| Return on assets | 30.9% | 26.8% | |
| Debt / equity | 0.33x | 0.80x | |
| Net debt / EBITDA | -0.17x | 0.26x | |
| Current ratio | 2.63x | 2.69x |
Cash & equivalents
$5.58B
Total debt
$4.12B
Capital allocation
How LRCX used its cash in FY2026
- Operating cash flow
- $5.86B
- Capital expenditure
- $966M
- Dividends paid
- $1.27B
- Share repurchases
- $3.85B
- Stock-based compensation
- $386M
- Diluted shares
- 1.26B
- Share count change (4Y)
- -10.3%
Analyst estimates
Consensus for upcoming fiscal years
| Fiscal year | Revenue | Growth | EPS | Growth |
|---|---|---|---|---|
| FY2026 actual | $23.23B | $5.76 | ||
| FY2027E19 analysts | $35.41B | +52.4% | $9.67 | +67.9% |
| FY2028E18 analysts | $42.72B | +20.7% | $12.20 | +26.1% |
| FY2029E10 analysts | $49.13B | +15.0% | $14.45 | +18.5% |
About Lam Research Corporation
Technology · Semiconductors
Lam Research Corporation is a prominent supplier of equipment vital for semiconductor processing, encompassing its design, production, sales, repair, and ongoing maintenance. These sophisticated systems are fundamental for the creation of integrated circuits. The company's extensive product catalog features a variety of deposition technologies.
lamresearch.com- Sector
- Technology
- Industry
- Semiconductors
- CEO
- Timothy Archer
- Employees
- 23,300
- Headquarters
- Fremont, CA, US
- IPO date
- 1984-05-04
Lam Research Corporation (LRCX) — frequently asked questions
Answered from the company's SEC filings
Lam Research Corporation is a prominent supplier of equipment vital for semiconductor processing, encompassing its design, production, sales, repair, and ongoing maintenance. These sophisticated systems are fundamental for the creation of integrated circuits.
Explore the full income statement, balance sheet and cash flow statement. Not investment advice.