Lam Research Corporation (LRCX) 10-Year Financial Performance & Capital Metrics

LRCX •

TechnologySemiconductorsSemiconductor Manufacturing Equipment

AboutLam 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; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD 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; 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; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.Show more

Revenue $18.44B +23.7%
EBITDA $6.29B +36.0%
Net Income $5.36B +40.0%
EPS (Diluted) 4.15 +43.1%
Gross Margin 48.7% +2.9%
EBITDA Margin 34.1% +9.9%
Operating Margin 32.01% +11.9%
Net Margin 29.06% +13.2%
ROE 58.24% +27.4%
ROIC 55.66% +35.4%
Debt/Equity 0.48 -17.3%
Interest Coverage 33.11 +43.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 55.4%
✓Strong 5Y profit CAGR of 18.9%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 29.4% free cash flow margin
✓11 consecutive years of dividend growth
✓Momentum leader: RS Rating 94 (top 6%)

✗Weaknesses

✗Expensive at 30.6x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.36%

5Y12.91%

3Y2.29%

TTM26.85%

Profit (Net Income) CAGR

10Y23.38%

5Y18.93%

3Y5.18%

TTM44.71%

EPS CAGR

10Y27.35%

5Y22.41%

3Y8.27%

TTM48.33%

ROCE

10Y Avg30.78%

5Y Avg37.73%

3Y Avg35.95%

Latest40.44%

Peer Comparison

Semiconductor Manufacturing Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LRCXLam Research Corporation	292.64B	233.89	56.36	23.68%	30.22%	61.24%	1.85%	0.48
ASMLASML Holding N.V.	563.03B	1450.56	51.82	11.02%	29.42%	47.08%	2.23%	0.14
VECOVeeco Instruments Inc.	1.85B	30.56	51.80	-7.39%	5.33%	4%	2.48%	0.29
AMATApplied Materials, Inc.	295.23B	372.30	42.99	4.39%	24.67%	34.28%	1.93%	0.32
ACMRACM Research, Inc.	3.33B	55.68	36.39	40.23%	13.3%	6.21%	2.1%	0.17
ACLSAxcelis Technologies, Inc.	2.68B	82.61	21.74	-17.57%	14.33%	11.62%	4%	0.04
ASYSAmtech Systems, Inc.	187.79M	13.05	-6.16	-21.59%	-41.28%	-56.44%	3.69%	0.37

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	5.89B	8.01B	11.08B	9.65B	10.04B	14.63B	17.23B	17.43B	14.91B	18.44B
Revenue Growth %	11.91%	36.15%	38.23%	-12.85%	4.05%	45.61%	17.78%	1.16%	-14.47%	23.68%
Cost of Goods Sold+	3.27B	4.41B	5.91B	5.3B	5.44B	7.82B	9.36B	9.65B	7.85B	9.46B
COGS % of Revenue	55.51%	55.03%	53.37%	54.85%	54.12%	53.47%	54.31%	55.38%	52.68%	51.3%
Gross Profit+	2.62B	3.6B	5.17B	4.36B	4.61B	6.81B	7.87B	7.78B	7.05B	8.98B
Gross Margin %	44.49%	44.97%	46.63%	45.15%	45.88%	46.53%	45.69%	44.63%	47.32%	48.7%
Gross Profit Growth %	14.65%	37.59%	43.34%	-15.62%	5.74%	47.66%	15.67%	-1.21%	-9.31%	27.31%
Operating Expenses+	1.54B	1.7B	1.95B	1.89B	1.93B	2.32B	2.49B	2.6B	2.79B	3.08B
OpEx % of Revenue	26.24%	21.23%	17.62%	19.62%	19.26%	15.88%	14.45%	14.93%	18.71%	16.7%
Selling, General & Admin	630.95M	667.49M	762.22M	702.41M	682.48M	829.88M	885.74M	832.75M	868.25M	981.7M
SG&A % of Revenue	10.72%	8.33%	6.88%	7.28%	6.79%	5.67%	5.14%	4.78%	5.83%	5.33%
Research & Development	913.71M	1.03B	1.19B	1.19B	1.25B	1.49B	1.6B	1.73B	1.9B	2.1B
R&D % of Revenue	15.52%	12.9%	10.74%	12.34%	12.47%	10.21%	9.31%	9.91%	12.76%	11.37%
Other Operating Expenses	0	0	0	0	0	0	0	42.15M	18.19M	0
Operating Income+	1.07B	1.9B	3.21B	2.46B	2.67B	4.48B	5.38B	5.17B	4.26B	5.9B
Operating Margin %	18.25%	23.74%	29.01%	25.53%	26.62%	30.64%	31.24%	29.7%	28.61%	32.01%
Operating Income Growth %	36.32%	77.07%	68.93%	-23.3%	8.48%	67.63%	20.08%	-3.85%	-17.6%	38.39%
EBITDA+	1.37B	2.21B	3.54B	2.77B	2.94B	4.79B	5.72B	5.52B	4.62B	6.29B
EBITDA Margin %	23.2%	27.57%	31.96%	28.74%	29.29%	32.74%	33.18%	31.66%	31.02%	34.1%
EBITDA Growth %	28.08%	61.8%	60.24%	-21.63%	6.07%	62.77%	19.34%	-3.47%	-16.2%	35.98%
D&A (Non-Cash Add-back)	291.03M	306.9M	326.39M	309.28M	268.52M	307.15M	333.74M	342.43M	359.7M	386.28M
EBIT	1.09B	1.93B	3.25B	2.56B	2.75B	4.58B	5.38B	5.3B	4.55B	5.96B
Net Interest Income+	-105.26M	-59.88M	-11.57M	-18.49M	-92.01M	-188.91M	-169.55M	-47.48M	66.7M	53.13M
Interest Income	29.51M	57.86M	85.81M	98.77M	85.43M	19.69M	15.21M	138.98M	251.94M	231.33M
Interest Expense	134.77M	117.73M	97.39M	117.26M	177.44M	208.6M	184.76M	186.46M	185.24M	178.2M
Other Income/Expense	-114.14M	-90.46M	-61.51M	-18.16M	-98.82M	-111.22M	-188.71M	-65.65M	96.31M	57.16M
Pretax Income+	960.12M	1.81B	3.15B	2.45B	2.57B	4.37B	5.19B	5.11B	4.36B	5.96B
Pretax Margin %	16.31%	22.61%	28.45%	25.34%	25.64%	29.88%	30.15%	29.32%	29.25%	32.32%
Income Tax+	46.07M	113.91M	771.11M	255.14M	323.23M	462.35M	587.83M	598.28M	532.45M	599.91M
Effective Tax Rate %	95.2%	93.71%	75.53%	89.57%	87.45%	89.42%	88.68%	88.29%	87.79%	89.93%
Net Income+	914.05M	1.7B	2.38B	2.19B	2.25B	3.91B	4.61B	4.51B	3.83B	5.36B
Net Margin %	15.53%	21.19%	21.49%	22.7%	22.42%	26.72%	26.73%	25.89%	25.68%	29.06%
Net Income Growth %	39.43%	85.74%	40.22%	-7.95%	2.75%	73.57%	17.83%	-2.05%	-15.14%	39.98%
Net Income (Continuing)	914.05M	1.7B	2.38B	2.19B	2.25B	3.91B	4.61B	4.51B	3.83B	5.36B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.52	0.92	1.32	1.37	1.51	2.69	3.27	3.32	2.90	4.15
EPS Growth %	40.54%	76.92%	43.48%	3.79%	10.22%	78.15%	21.56%	1.38%	-12.65%	43.1%
EPS (Basic)	0.58	1.05	1.47	1.44	1.56	2.72	3.29	3.33	2.91	4.17
Diluted Shares Outstanding	1.75B	1.84B	1.81B	1.6B	1.49B	1.45B	1.41B	1.36B	1.32B	1.29B
Basic Shares Outstanding	1.59B	1.62B	1.81B	1.52B	1.45B	1.44B	1.4B	1.35B	1.31B	1.29B
Dividend Payout Ratio	20.83%	14.34%	12.92%	30.95%	29.17%	18.6%	17.7%	20.13%	26.62%	21.45%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	9.21B	9.14B	9.15B	8.56B	10.85B	11.65B	12.29B	13.23B	12.88B	14.52B
Cash & Short-Term Investments	6.83B	6.04B	4.95B	5.43B	6.71B	5.73B	3.66B	5.37B	5.85B	6.39B
Cash Only	5.04B	2.38B	4.51B	3.66B	4.92B	4.42B	3.52B	5.34B	5.85B	6.39B
Short-Term Investments	1.79B	3.66B	437.34M	1.77B	1.8B	1.31B	135.73M	37.64M	0	0
Accounts Receivable	1.26B	1.67B	2.18B	1.46B	2.1B	3.03B	4.31B	2.82B	2.52B	3.38B
Days Sales Outstanding	78.27	76.22	71.73	55.03	76.2	75.53	91.4	59.14	61.69	66.88
Inventory	971.91M	1.23B	1.88B	1.54B	1.9B	2.69B	3.97B	4.82B	4.22B	4.31B
Days Inventory Outstanding	108.59	102.04	115.83	106.16	127.58	125.51	154.75	182.14	196.06	166.28
Other Current Assets	2.17M	8.27M	7.69M	1.37M	0	0	0	-37.64M	298.19M	440.27M
Total Non-Current Assets+	3.06B	2.98B	3.33B	3.44B	3.71B	4.24B	4.91B	5.55B	5.86B	6.83B
Property, Plant & Equipment	639.61M	685.6M	902.55M	1.06B	1.25B	1.48B	1.65B	1.86B	2.15B	2.43B
Fixed Asset Turnover	9.20x	11.69x	12.27x	9.12x	8.06x	9.90x	10.46x	9.39x	6.92x	7.59x
Goodwill	1.39B	1.39B	1.48B	1.48B	1.48B	1.49B	1.52B	1.62B	1.63B	1.63B
Intangible Assets	564.92M	411M	317.84M	216.95M	168.53M	132.37M	101.85M	168.45M	138.54M	182.2M
Long-Term Investments	0	0	0	0	0	0	0	0	2.95M	17M
Other Non-Current Assets	465.81M	754.21M	880.58M	937.01M	806.46M	1.14B	1.65B	1.91B	1.94B	2.57B
Total Assets+	12.27B	12.12B	12.48B	12B	14.56B	15.89B	17.2B	18.78B	18.74B	21.35B
Asset Turnover	0.48x	0.66x	0.89x	0.80x	0.69x	0.92x	1.00x	0.93x	0.80x	0.86x
Asset Growth %	31.04%	-1.21%	2.94%	-3.83%	21.31%	9.16%	8.2%	9.22%	-0.2%	13.87%
Total Current Liabilities+	2.42B	2.95B	3.15B	2.37B	3.16B	3.53B	4.56B	4.18B	4.34B	6.57B
Accounts Payable	348.2M	464.64M	510.98M	376.56M	592.39M	829.71M	1.01B	470.7M	613.97M	854.21M
Days Payables Outstanding	38.9	38.45	31.55	25.96	39.78	38.72	39.45	17.8	28.54	32.97
Short-Term Debt	947.73M	908.44M	610.03M	667.13M	836.11M	0	0	421K	501.32M	749.67M
Deferred Revenue (Current)	349.2M	607.67M	720.09M	381.32M	457.52M	967.33M	1.57B	1.7B	1.42B	2.57B
Other Current Liabilities	431.85M	609.34M	698.95M	464.02M	520.24M	728.96M	1.3B	1.32B	1.35B	1.48B
Current Ratio	3.81x	3.10x	2.90x	3.61x	3.43x	3.30x	2.69x	3.16x	2.97x	2.21x
Quick Ratio	3.41x	2.68x	2.31x	2.96x	2.83x	2.54x	1.82x	2.01x	2.00x	1.55x
Cash Conversion Cycle	147.95	139.8	156.02	135.24	164	162.31	206.69	223.47	229.21	200.19
Total Non-Current Liabilities+	3.74B	2.19B	2.75B	4.91B	6.21B	6.34B	6.35B	6.39B	5.87B	4.92B
Long-Term Debt	3.38B	1.78B	1.81B	3.82B	4.96B	4.95B	4.96B	4.96B	4.47B	3.72B
Capital Lease Obligations	0	0	0	0	11.48M	29.4M	35.99M	38.24M	12.47M	203.84M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	366.08M	400.36M	942.57M	1.08B	1.24B	1.35B	1.35B	1.38B	1.39B	991.68M
Total Liabilities	6.16B	5.14B	5.9B	7.28B	9.38B	9.86B	10.92B	10.57B	10.21B	11.48B
Total Debt+	4.33B	2.69B	2.42B	4.49B	5.81B	5B	5.01B	5.01B	4.98B	4.76B
Net Debt	-713.46M	315.88M	-2.1B	831.68M	895.55M	576.8M	1.48B	-325.51M	-864.52M	-1.63B
Debt / Equity	0.71x	0.39x	0.37x	0.95x	1.12x	0.83x	0.80x	0.61x	0.58x	0.48x
Debt / EBITDA	3.17x	1.22x	0.68x	1.62x	1.97x	1.04x	0.88x	0.91x	1.08x	0.76x
Net Debt / EBITDA	-0.52x	0.14x	-0.59x	0.30x	0.30x	0.12x	0.26x	-0.06x	-0.19x	-0.26x
Interest Coverage	7.97x	16.16x	33.00x	21.02x	15.07x	21.49x	29.13x	27.75x	23.02x	33.11x
Total Equity+	6.1B	6.99B	6.58B	4.72B	5.18B	6.03B	6.28B	8.21B	8.54B	9.86B
Equity Growth %	14.17%	14.51%	-5.83%	-28.22%	9.74%	16.28%	4.17%	30.77%	4.01%	15.48%
Book Value per Share	3.48	3.80	3.64	2.95	3.48	4.15	4.46	6.04	6.47	7.64
Total Shareholders' Equity	6.1B	6.99B	6.58B	4.72B	5.18B	6.03B	6.28B	8.21B	8.54B	9.86B
Common Stock	160K	162K	157K	144K	145K	143K	137K	133K	130K	1.27M
Retained Earnings	4.82B	6.25B	8.26B	9.93B	11.52B	14.68B	18.45B	22.03B	24.81B	28.99B
Treasury Stock	-4.43B	-5.22B	-7.85B	-11.6B	-12.95B	-15.65B	-19.48B	-21.53B	-24.37B	-27.76B
Accumulated OCI	-69.33M	-61.7M	-57.45M	-64.03M	-94.21M	-64.13M	-109.98M	-100.71M	-130.43M	-62.42M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	1.35B	2.03B	2.66B	3.18B	2.13B	3.59B	3.1B	5.18B	4.65B	6.17B
Operating CF Margin %	22.94%	25.32%	23.98%	32.9%	21.17%	24.53%	17.99%	29.72%	31.21%	33.49%
Operating CF Growth %	71.9%	50.29%	30.87%	19.59%	-33.05%	68.74%	-13.61%	67.08%	-10.17%	32.69%
Net Income	914.05M	1.7B	2.38B	2.19B	2.25B	3.91B	4.61B	4.51B	3.83B	5.36B
Depreciation & Amortization	291.03M	306.9M	326.39M	309.28M	268.52M	307.15M	333.74M	342.43M	359.7M	386.28M
Stock-Based Compensation	142.35M	149.97M	172.22M	187.23M	189.2M	220.16M	259.06M	286.6M	293.06M	343.37M
Deferred Taxes	-49M	104.94M	3.05M	-4.98M	-17.78M	-151.48M	-257.44M	-172.06M	-198.98M	-363.25M
Other Non-Cash Items	104.08M	80.53M	90.6M	1.52M	6.63M	-17.39M	-44.75M	52.3M	10.24M	6.84M
Working Capital Changes	-52.23M	-310.83M	-317.19M	491.52M	-571.88M	-678.74M	-1.8B	158.74M	360.48M	441.8M
Change in Receivables	-169.03M	-411.29M	-501.63M	732.14M	-641.83M	-928.93M	-1.29B	1.45B	303.44M	-858.75M
Change in Inventory	-66.37M	-307.88M	-701.01M	281.36M	-411.61M	-792.59M	-1.35B	-961.97M	528.72M	-180.73M
Change in Payables	41.65M	126.82M	35.66M	-131.47M	208.48M	184.62M	167.88M	-522.2M	125.94M	212M
Cash from Investing+	592.48M	-2.06B	2.75B	-1.64B	-244.08M	73.27M	612.27M	-534.56M	-370.61M	-708.09M
Capital Expenditures	-175.33M	-157.42M	-273.47M	-303.49M	-203.24M	-349.1M	-546.03M	-501.57M	-396.67M	-759.19M
CapEx % of Revenue	2.98%	1.96%	2.47%	3.14%	2.02%	2.39%	3.17%	2.88%	2.66%	4.12%
Acquisitions	175.33M	157.42M	-115.7M	303.49M	203.24M	349.1M	0	-119.95M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	668.65M	-2.87B	2.52B	-1.91B	-229.08M	-391.25M	-7.58M	86.96M	-11.71M	51.09M
Cash from Financing+	1.6B	-2.63B	-3.27B	-2.39B	-623.93M	-4.17B	-4.58B	-2.83B	-4B	-4.94B
Debt Issued (Net)	1.89B	-1.69B	-396.09M	2B	1.31B	-862.06M	-11.89M	-23.21M	-256.1M	-507.49M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-190.4M	-243.5M	-307.61M	-678.35M	-656.84M	-726.99M	-815.29M	-907.91M	-1.02B	-1.15B
Share Repurchases	-158.39M	-811.67M	-2.65B	-3.78B	-1.37B	-2.7B	-3.87B	-2.02B	-2.84B	-3.42B
Other Financing	57.89M	38.51M	75.63M	64.75M	95.44M	95.65M	108.22M	106.35M	106.42M	143K
Net Change in Cash	3.54B	-2.66B	2.13B	-855.16M	1.26B	-498.33M	-897.22M	1.81B	263.43M	556.85M
Free Cash Flow+	1.17B	1.87B	2.38B	2.87B	1.92B	3.24B	2.55B	4.68B	4.26B	5.41B
FCF Margin %	19.96%	23.36%	21.51%	29.76%	19.15%	22.15%	14.82%	26.84%	28.55%	29.37%
FCF Growth %	100.08%	59.31%	27.27%	20.58%	-33.05%	68.42%	-21.16%	83.16%	-9.02%	27.22%
FCF per Share	0.67	1.02	1.32	1.80	1.29	2.23	1.82	3.44	3.22	4.20
FCF Conversion (FCF/Net Income)	1.48x	1.20x	1.12x	1.45x	0.94x	0.92x	0.67x	1.15x	1.22x	1.15x
Interest Paid	58.81M	104.62M	84.4M	76.93M	171.89M	203.93M	175.53M	174.75M	173.09M	172.35M
Taxes Paid	39.74M	28.1M	142.8M	300.27M	222.91M	518.57M	807.67M	809.75M	991.82M	972.51M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	15.97%	25.94%	35.09%	38.77%	45.46%	69.73%	74.85%	62.27%	45.71%	58.24%
Return on Invested Capital (ROIC)	13.9%	22.48%	40.89%	36.83%	34.47%	53.01%	56.19%	49.61%	41.11%	55.66%
Gross Margin	44.49%	44.97%	46.63%	45.15%	45.88%	46.53%	45.69%	44.63%	47.32%	48.7%
Net Margin	15.53%	21.19%	21.49%	22.7%	22.42%	26.72%	26.73%	25.89%	25.68%	29.06%
Debt / Equity	0.71x	0.39x	0.37x	0.95x	1.12x	0.83x	0.80x	0.61x	0.58x	0.48x
Interest Coverage	7.97x	16.16x	33.00x	21.02x	15.07x	21.49x	29.13x	27.75x	23.02x	33.11x
FCF Conversion	1.48x	1.20x	1.12x	1.45x	0.94x	0.92x	0.67x	1.15x	1.22x	1.15x
Revenue Growth	11.91%	36.15%	38.23%	-12.85%	4.05%	45.61%	17.78%	1.16%	-14.47%	23.68%

US Stock Screener

...

Lam Research Corporation (LRCX) 10-Year Financial Performance & Capital Metrics

LRCX •

TechnologySemiconductorsSemiconductor Manufacturing Equipment

Revenue $18.44B +23.7%
EBITDA $6.29B +36.0%
Net Income $5.36B +40.0%
EPS (Diluted) 4.15 +43.1%
Gross Margin 48.7% +2.9%
EBITDA Margin 34.1% +9.9%
Operating Margin 32.01% +11.9%
Net Margin 29.06% +13.2%
ROE 58.24% +27.4%
ROIC 55.66% +35.4%
Debt/Equity 0.48 -17.3%
Interest Coverage 33.11 +43.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 55.4%
✓Strong 5Y profit CAGR of 18.9%
✓Strong Piotroski F-Score: 8/9
✓FCF machine: 29.4% free cash flow margin
✓11 consecutive years of dividend growth
✓Momentum leader: RS Rating 94 (top 6%)

✗Weaknesses

✗Expensive at 30.6x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y13.36%

5Y12.91%

3Y2.29%

TTM26.85%

Profit (Net Income) CAGR

10Y23.38%

5Y18.93%

3Y5.18%

TTM44.71%

EPS CAGR

10Y27.35%

5Y22.41%

3Y8.27%

TTM48.33%

ROCE

10Y Avg30.78%

5Y Avg37.73%

3Y Avg35.95%

Latest40.44%

Peer Comparison

Semiconductor Manufacturing Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LRCXLam Research Corporation	292.64B	233.89	56.36	23.68%	30.22%	61.24%	1.85%	0.48
ASMLASML Holding N.V.	563.03B	1450.56	51.82	11.02%	29.42%	47.08%	2.23%	0.14
VECOVeeco Instruments Inc.	1.85B	30.56	51.80	-7.39%	5.33%	4%	2.48%	0.29
AMATApplied Materials, Inc.	295.23B	372.30	42.99	4.39%	24.67%	34.28%	1.93%	0.32
ACMRACM Research, Inc.	3.33B	55.68	36.39	40.23%	13.3%	6.21%	2.1%	0.17
ACLSAxcelis Technologies, Inc.	2.68B	82.61	21.74	-17.57%	14.33%	11.62%	4%	0.04
ASYSAmtech Systems, Inc.	187.79M	13.05	-6.16	-21.59%	-41.28%	-56.44%	3.69%	0.37

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	5.89B	8.01B	11.08B	9.65B	10.04B	14.63B	17.23B	17.43B	14.91B	18.44B
Revenue Growth %	11.91%	36.15%	38.23%	-12.85%	4.05%	45.61%	17.78%	1.16%	-14.47%	23.68%
Cost of Goods Sold+	3.27B	4.41B	5.91B	5.3B	5.44B	7.82B	9.36B	9.65B	7.85B	9.46B
COGS % of Revenue	55.51%	55.03%	53.37%	54.85%	54.12%	53.47%	54.31%	55.38%	52.68%	51.3%
Gross Profit+	2.62B	3.6B	5.17B	4.36B	4.61B	6.81B	7.87B	7.78B	7.05B	8.98B
Gross Margin %	44.49%	44.97%	46.63%	45.15%	45.88%	46.53%	45.69%	44.63%	47.32%	48.7%
Gross Profit Growth %	14.65%	37.59%	43.34%	-15.62%	5.74%	47.66%	15.67%	-1.21%	-9.31%	27.31%
Operating Expenses+	1.54B	1.7B	1.95B	1.89B	1.93B	2.32B	2.49B	2.6B	2.79B	3.08B
OpEx % of Revenue	26.24%	21.23%	17.62%	19.62%	19.26%	15.88%	14.45%	14.93%	18.71%	16.7%
Selling, General & Admin	630.95M	667.49M	762.22M	702.41M	682.48M	829.88M	885.74M	832.75M	868.25M	981.7M
SG&A % of Revenue	10.72%	8.33%	6.88%	7.28%	6.79%	5.67%	5.14%	4.78%	5.83%	5.33%
Research & Development	913.71M	1.03B	1.19B	1.19B	1.25B	1.49B	1.6B	1.73B	1.9B	2.1B
R&D % of Revenue	15.52%	12.9%	10.74%	12.34%	12.47%	10.21%	9.31%	9.91%	12.76%	11.37%
Other Operating Expenses	0	0	0	0	0	0	0	42.15M	18.19M	0
Operating Income+	1.07B	1.9B	3.21B	2.46B	2.67B	4.48B	5.38B	5.17B	4.26B	5.9B
Operating Margin %	18.25%	23.74%	29.01%	25.53%	26.62%	30.64%	31.24%	29.7%	28.61%	32.01%
Operating Income Growth %	36.32%	77.07%	68.93%	-23.3%	8.48%	67.63%	20.08%	-3.85%	-17.6%	38.39%
EBITDA+	1.37B	2.21B	3.54B	2.77B	2.94B	4.79B	5.72B	5.52B	4.62B	6.29B
EBITDA Margin %	23.2%	27.57%	31.96%	28.74%	29.29%	32.74%	33.18%	31.66%	31.02%	34.1%
EBITDA Growth %	28.08%	61.8%	60.24%	-21.63%	6.07%	62.77%	19.34%	-3.47%	-16.2%	35.98%
D&A (Non-Cash Add-back)	291.03M	306.9M	326.39M	309.28M	268.52M	307.15M	333.74M	342.43M	359.7M	386.28M
EBIT	1.09B	1.93B	3.25B	2.56B	2.75B	4.58B	5.38B	5.3B	4.55B	5.96B
Net Interest Income+	-105.26M	-59.88M	-11.57M	-18.49M	-92.01M	-188.91M	-169.55M	-47.48M	66.7M	53.13M
Interest Income	29.51M	57.86M	85.81M	98.77M	85.43M	19.69M	15.21M	138.98M	251.94M	231.33M
Interest Expense	134.77M	117.73M	97.39M	117.26M	177.44M	208.6M	184.76M	186.46M	185.24M	178.2M
Other Income/Expense	-114.14M	-90.46M	-61.51M	-18.16M	-98.82M	-111.22M	-188.71M	-65.65M	96.31M	57.16M
Pretax Income+	960.12M	1.81B	3.15B	2.45B	2.57B	4.37B	5.19B	5.11B	4.36B	5.96B
Pretax Margin %	16.31%	22.61%	28.45%	25.34%	25.64%	29.88%	30.15%	29.32%	29.25%	32.32%
Income Tax+	46.07M	113.91M	771.11M	255.14M	323.23M	462.35M	587.83M	598.28M	532.45M	599.91M
Effective Tax Rate %	95.2%	93.71%	75.53%	89.57%	87.45%	89.42%	88.68%	88.29%	87.79%	89.93%
Net Income+	914.05M	1.7B	2.38B	2.19B	2.25B	3.91B	4.61B	4.51B	3.83B	5.36B
Net Margin %	15.53%	21.19%	21.49%	22.7%	22.42%	26.72%	26.73%	25.89%	25.68%	29.06%
Net Income Growth %	39.43%	85.74%	40.22%	-7.95%	2.75%	73.57%	17.83%	-2.05%	-15.14%	39.98%
Net Income (Continuing)	914.05M	1.7B	2.38B	2.19B	2.25B	3.91B	4.61B	4.51B	3.83B	5.36B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.52	0.92	1.32	1.37	1.51	2.69	3.27	3.32	2.90	4.15
EPS Growth %	40.54%	76.92%	43.48%	3.79%	10.22%	78.15%	21.56%	1.38%	-12.65%	43.1%
EPS (Basic)	0.58	1.05	1.47	1.44	1.56	2.72	3.29	3.33	2.91	4.17
Diluted Shares Outstanding	1.75B	1.84B	1.81B	1.6B	1.49B	1.45B	1.41B	1.36B	1.32B	1.29B
Basic Shares Outstanding	1.59B	1.62B	1.81B	1.52B	1.45B	1.44B	1.4B	1.35B	1.31B	1.29B
Dividend Payout Ratio	20.83%	14.34%	12.92%	30.95%	29.17%	18.6%	17.7%	20.13%	26.62%	21.45%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	9.21B	9.14B	9.15B	8.56B	10.85B	11.65B	12.29B	13.23B	12.88B	14.52B
Cash & Short-Term Investments	6.83B	6.04B	4.95B	5.43B	6.71B	5.73B	3.66B	5.37B	5.85B	6.39B
Cash Only	5.04B	2.38B	4.51B	3.66B	4.92B	4.42B	3.52B	5.34B	5.85B	6.39B
Short-Term Investments	1.79B	3.66B	437.34M	1.77B	1.8B	1.31B	135.73M	37.64M	0	0
Accounts Receivable	1.26B	1.67B	2.18B	1.46B	2.1B	3.03B	4.31B	2.82B	2.52B	3.38B
Days Sales Outstanding	78.27	76.22	71.73	55.03	76.2	75.53	91.4	59.14	61.69	66.88
Inventory	971.91M	1.23B	1.88B	1.54B	1.9B	2.69B	3.97B	4.82B	4.22B	4.31B
Days Inventory Outstanding	108.59	102.04	115.83	106.16	127.58	125.51	154.75	182.14	196.06	166.28
Other Current Assets	2.17M	8.27M	7.69M	1.37M	0	0	0	-37.64M	298.19M	440.27M
Total Non-Current Assets+	3.06B	2.98B	3.33B	3.44B	3.71B	4.24B	4.91B	5.55B	5.86B	6.83B
Property, Plant & Equipment	639.61M	685.6M	902.55M	1.06B	1.25B	1.48B	1.65B	1.86B	2.15B	2.43B
Fixed Asset Turnover	9.20x	11.69x	12.27x	9.12x	8.06x	9.90x	10.46x	9.39x	6.92x	7.59x
Goodwill	1.39B	1.39B	1.48B	1.48B	1.48B	1.49B	1.52B	1.62B	1.63B	1.63B
Intangible Assets	564.92M	411M	317.84M	216.95M	168.53M	132.37M	101.85M	168.45M	138.54M	182.2M
Long-Term Investments	0	0	0	0	0	0	0	0	2.95M	17M
Other Non-Current Assets	465.81M	754.21M	880.58M	937.01M	806.46M	1.14B	1.65B	1.91B	1.94B	2.57B
Total Assets+	12.27B	12.12B	12.48B	12B	14.56B	15.89B	17.2B	18.78B	18.74B	21.35B
Asset Turnover	0.48x	0.66x	0.89x	0.80x	0.69x	0.92x	1.00x	0.93x	0.80x	0.86x
Asset Growth %	31.04%	-1.21%	2.94%	-3.83%	21.31%	9.16%	8.2%	9.22%	-0.2%	13.87%
Total Current Liabilities+	2.42B	2.95B	3.15B	2.37B	3.16B	3.53B	4.56B	4.18B	4.34B	6.57B
Accounts Payable	348.2M	464.64M	510.98M	376.56M	592.39M	829.71M	1.01B	470.7M	613.97M	854.21M
Days Payables Outstanding	38.9	38.45	31.55	25.96	39.78	38.72	39.45	17.8	28.54	32.97
Short-Term Debt	947.73M	908.44M	610.03M	667.13M	836.11M	0	0	421K	501.32M	749.67M
Deferred Revenue (Current)	349.2M	607.67M	720.09M	381.32M	457.52M	967.33M	1.57B	1.7B	1.42B	2.57B
Other Current Liabilities	431.85M	609.34M	698.95M	464.02M	520.24M	728.96M	1.3B	1.32B	1.35B	1.48B
Current Ratio	3.81x	3.10x	2.90x	3.61x	3.43x	3.30x	2.69x	3.16x	2.97x	2.21x
Quick Ratio	3.41x	2.68x	2.31x	2.96x	2.83x	2.54x	1.82x	2.01x	2.00x	1.55x
Cash Conversion Cycle	147.95	139.8	156.02	135.24	164	162.31	206.69	223.47	229.21	200.19
Total Non-Current Liabilities+	3.74B	2.19B	2.75B	4.91B	6.21B	6.34B	6.35B	6.39B	5.87B	4.92B
Long-Term Debt	3.38B	1.78B	1.81B	3.82B	4.96B	4.95B	4.96B	4.96B	4.47B	3.72B
Capital Lease Obligations	0	0	0	0	11.48M	29.4M	35.99M	38.24M	12.47M	203.84M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	366.08M	400.36M	942.57M	1.08B	1.24B	1.35B	1.35B	1.38B	1.39B	991.68M
Total Liabilities	6.16B	5.14B	5.9B	7.28B	9.38B	9.86B	10.92B	10.57B	10.21B	11.48B
Total Debt+	4.33B	2.69B	2.42B	4.49B	5.81B	5B	5.01B	5.01B	4.98B	4.76B
Net Debt	-713.46M	315.88M	-2.1B	831.68M	895.55M	576.8M	1.48B	-325.51M	-864.52M	-1.63B
Debt / Equity	0.71x	0.39x	0.37x	0.95x	1.12x	0.83x	0.80x	0.61x	0.58x	0.48x
Debt / EBITDA	3.17x	1.22x	0.68x	1.62x	1.97x	1.04x	0.88x	0.91x	1.08x	0.76x
Net Debt / EBITDA	-0.52x	0.14x	-0.59x	0.30x	0.30x	0.12x	0.26x	-0.06x	-0.19x	-0.26x
Interest Coverage	7.97x	16.16x	33.00x	21.02x	15.07x	21.49x	29.13x	27.75x	23.02x	33.11x
Total Equity+	6.1B	6.99B	6.58B	4.72B	5.18B	6.03B	6.28B	8.21B	8.54B	9.86B
Equity Growth %	14.17%	14.51%	-5.83%	-28.22%	9.74%	16.28%	4.17%	30.77%	4.01%	15.48%
Book Value per Share	3.48	3.80	3.64	2.95	3.48	4.15	4.46	6.04	6.47	7.64
Total Shareholders' Equity	6.1B	6.99B	6.58B	4.72B	5.18B	6.03B	6.28B	8.21B	8.54B	9.86B
Common Stock	160K	162K	157K	144K	145K	143K	137K	133K	130K	1.27M
Retained Earnings	4.82B	6.25B	8.26B	9.93B	11.52B	14.68B	18.45B	22.03B	24.81B	28.99B
Treasury Stock	-4.43B	-5.22B	-7.85B	-11.6B	-12.95B	-15.65B	-19.48B	-21.53B	-24.37B	-27.76B
Accumulated OCI	-69.33M	-61.7M	-57.45M	-64.03M	-94.21M	-64.13M	-109.98M	-100.71M	-130.43M	-62.42M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	1.35B	2.03B	2.66B	3.18B	2.13B	3.59B	3.1B	5.18B	4.65B	6.17B
Operating CF Margin %	22.94%	25.32%	23.98%	32.9%	21.17%	24.53%	17.99%	29.72%	31.21%	33.49%
Operating CF Growth %	71.9%	50.29%	30.87%	19.59%	-33.05%	68.74%	-13.61%	67.08%	-10.17%	32.69%
Net Income	914.05M	1.7B	2.38B	2.19B	2.25B	3.91B	4.61B	4.51B	3.83B	5.36B
Depreciation & Amortization	291.03M	306.9M	326.39M	309.28M	268.52M	307.15M	333.74M	342.43M	359.7M	386.28M
Stock-Based Compensation	142.35M	149.97M	172.22M	187.23M	189.2M	220.16M	259.06M	286.6M	293.06M	343.37M
Deferred Taxes	-49M	104.94M	3.05M	-4.98M	-17.78M	-151.48M	-257.44M	-172.06M	-198.98M	-363.25M
Other Non-Cash Items	104.08M	80.53M	90.6M	1.52M	6.63M	-17.39M	-44.75M	52.3M	10.24M	6.84M
Working Capital Changes	-52.23M	-310.83M	-317.19M	491.52M	-571.88M	-678.74M	-1.8B	158.74M	360.48M	441.8M
Change in Receivables	-169.03M	-411.29M	-501.63M	732.14M	-641.83M	-928.93M	-1.29B	1.45B	303.44M	-858.75M
Change in Inventory	-66.37M	-307.88M	-701.01M	281.36M	-411.61M	-792.59M	-1.35B	-961.97M	528.72M	-180.73M
Change in Payables	41.65M	126.82M	35.66M	-131.47M	208.48M	184.62M	167.88M	-522.2M	125.94M	212M
Cash from Investing+	592.48M	-2.06B	2.75B	-1.64B	-244.08M	73.27M	612.27M	-534.56M	-370.61M	-708.09M
Capital Expenditures	-175.33M	-157.42M	-273.47M	-303.49M	-203.24M	-349.1M	-546.03M	-501.57M	-396.67M	-759.19M
CapEx % of Revenue	2.98%	1.96%	2.47%	3.14%	2.02%	2.39%	3.17%	2.88%	2.66%	4.12%
Acquisitions	175.33M	157.42M	-115.7M	303.49M	203.24M	349.1M	0	-119.95M	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	668.65M	-2.87B	2.52B	-1.91B	-229.08M	-391.25M	-7.58M	86.96M	-11.71M	51.09M
Cash from Financing+	1.6B	-2.63B	-3.27B	-2.39B	-623.93M	-4.17B	-4.58B	-2.83B	-4B	-4.94B
Debt Issued (Net)	1.89B	-1.69B	-396.09M	2B	1.31B	-862.06M	-11.89M	-23.21M	-256.1M	-507.49M
Equity Issued (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Dividends Paid	-190.4M	-243.5M	-307.61M	-678.35M	-656.84M	-726.99M	-815.29M	-907.91M	-1.02B	-1.15B
Share Repurchases	-158.39M	-811.67M	-2.65B	-3.78B	-1.37B	-2.7B	-3.87B	-2.02B	-2.84B	-3.42B
Other Financing	57.89M	38.51M	75.63M	64.75M	95.44M	95.65M	108.22M	106.35M	106.42M	143K
Net Change in Cash	3.54B	-2.66B	2.13B	-855.16M	1.26B	-498.33M	-897.22M	1.81B	263.43M	556.85M
Free Cash Flow+	1.17B	1.87B	2.38B	2.87B	1.92B	3.24B	2.55B	4.68B	4.26B	5.41B
FCF Margin %	19.96%	23.36%	21.51%	29.76%	19.15%	22.15%	14.82%	26.84%	28.55%	29.37%
FCF Growth %	100.08%	59.31%	27.27%	20.58%	-33.05%	68.42%	-21.16%	83.16%	-9.02%	27.22%
FCF per Share	0.67	1.02	1.32	1.80	1.29	2.23	1.82	3.44	3.22	4.20
FCF Conversion (FCF/Net Income)	1.48x	1.20x	1.12x	1.45x	0.94x	0.92x	0.67x	1.15x	1.22x	1.15x
Interest Paid	58.81M	104.62M	84.4M	76.93M	171.89M	203.93M	175.53M	174.75M	173.09M	172.35M
Taxes Paid	39.74M	28.1M	142.8M	300.27M	222.91M	518.57M	807.67M	809.75M	991.82M	972.51M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	15.97%	25.94%	35.09%	38.77%	45.46%	69.73%	74.85%	62.27%	45.71%	58.24%
Return on Invested Capital (ROIC)	13.9%	22.48%	40.89%	36.83%	34.47%	53.01%	56.19%	49.61%	41.11%	55.66%
Gross Margin	44.49%	44.97%	46.63%	45.15%	45.88%	46.53%	45.69%	44.63%	47.32%	48.7%
Net Margin	15.53%	21.19%	21.49%	22.7%	22.42%	26.72%	26.73%	25.89%	25.68%	29.06%
Debt / Equity	0.71x	0.39x	0.37x	0.95x	1.12x	0.83x	0.80x	0.61x	0.58x	0.48x
Interest Coverage	7.97x	16.16x	33.00x	21.02x	15.07x	21.49x	29.13x	27.75x	23.02x	33.11x
FCF Conversion	1.48x	1.20x	1.12x	1.45x	0.94x	0.92x	0.67x	1.15x	1.22x	1.15x
Revenue Growth	11.91%	36.15%	38.23%	-12.85%	4.05%	45.61%	17.78%	1.16%	-14.47%	23.68%

Lam Research Corporation (LRCX) 10-Year Financial Performance & Capital Metrics

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Lam Research Corporation (LRCX) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare LRCX vs Peers

vs ASML

vs AMAT

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios