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.
Lam Research Corporation cash flow statement
Annual · USD millions except per-share data · 36 lines
| Fiscal year | 2026 | 2025 | 2024 | 2023 | 2022 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 7,265 | 5,358 | 3,828 | 4,511 | 4,605 | +12.1% | |
| Depreciation & amortization | 442 | 386 | 360 | 342 | 334 | +7.2% | |
| Deferred income tax | (289) | (363) | (199) | (172) | (257) | — | |
| Stock-based compensation | 386 | 343 | 293 | 287 | 259 | +10.5% | |
| Change in working capital | (1,914) | 442 | 360 | 159 | (1,796) | — | |
| Accounts receivables | 0 | (859) | 303 | 1,452 | (1,288) | — | |
| Inventory | 0 | (181) | 529 | (962) | (1,351) | — | |
| Accounts payables | 0 | 212 | 126 | (522) | 168 | — | |
| Other working capital | (1,914) | 1,269 | (598) | 191 | 675 | — | |
| Other non-cash items | (33) | 7 | 10 | 52 | (45) | — | |
| Net cash from operating activities | 5,858 | 6,173 | 4,652 | 5,179 | 3,100 | +17.2% | |
| Operating cash flow | 5,858 | 6,173 | 4,652 | 5,179 | 3,100 | +17.2% | |
| Investing activities | |||||||
| Investments in PP&E | (966) | (759) | (397) | (502) | (546) | — | |
| Capital expenditure | (966) | (759) | (397) | (502) | (546) | — | |
| Acquisitions, net | 0 | 0 | 0 | (120) | 0 | — | |
| Purchases of investments | 0 | 0 | 0 | (98) | (568) | — | |
| Sales / maturities of investments | 0 | 0 | 38 | 98 | 1,734 | — | |
| Other investing activities | 44 | 51 | (12) | 87 | (8) | — | |
| Net cash from investing activities | (922) | (708) | (371) | (535) | 612 | — | |
| Financing activities | |||||||
| Net debt issuance | (755) | (507) | (256) | (23) | (12) | — | |
| Long-term net debt issuance | (755) | (507) | (256) | (23) | (12) | — | |
| Net stock issuance | (3,834) | (3,280) | (2,827) | (2,006) | (3,860) | — | |
| Common stock issuance | 17 | 143 | 16 | 11 | 6 | +32.4% | |
| Common stock repurchased | (3,851) | (3,422) | (2,843) | (2,017) | (3,866) | — | |
| Net common stock issuance | (3,834) | (3,280) | (2,827) | (2,006) | (3,860) | — | |
| Common dividends paid | (1,271) | (1,150) | (1,019) | (908) | (815) | — | |
| Net dividends paid | (1,271) | (1,150) | (1,019) | (908) | (815) | — | |
| Other financing activities | 142 | 0 | 106 | 106 | 108 | +7.1% | |
| Net cash from financing activities | (5,718) | (4,937) | (3,996) | (2,831) | (4,579) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | (27) | 28 | (22) | 0 | (30) | — | |
| Net change in cash | (810) | 557 | 263 | 1,814 | (897) | — | |
| Cash at beginning of period | 6,408 | 5,851 | 5,587 | 3,774 | 4,671 | +8.2% | |
| Cash at end of period | 5,598 | 6,408 | 5,851 | 5,587 | 3,774 | +10.4% | |
| Free cash flow | 4,891 | 5,414 | 4,256 | 4,677 | 2,554 | +17.6% | |
| Income taxes paid | 0 | 973 | 992 | 810 | 808 | — | |
| Interest paid | 0 | 172 | 173 | 175 | 176 | — | |