Last 47 quarters of trend data · Technology · Semiconductors
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 45.82 | 52.36 | 36.45 | 35.33 | 25.87 | 18.00 | 17.62 | 19.95 | 24.04 | 34.13 | 33.27 | 27.08 | 23.10 | 26.79 | 20.92 | 9.54 | 9.15 | 12.25 | 19.00 | 20.79 | 18.45 |
| — | +190.9% | +106.8% | +77.1% | +7.6% | -47.3% | -47.0% | -26.4% | +4.1% | +27.4% | +59.0% | +183.9% | +152.5% | +118.7% | +10.1% | -54.1% | -50.4% | -39.8% | -3.7% | +3.9% | +25.1% | |
| P/S Ratio | 14.21 | 17.78 | 11.38 | 10.54 | 7.65 | 6.00 | 4.95 | 5.42 | 6.47 | 9.08 | 8.42 | 6.86 | 5.92 | 6.73 | 4.39 | 2.66 | 2.57 | 3.18 | 4.78 | 5.85 | 5.07 |
| — | +196.3% | +129.6% | +94.6% | +18.2% | -33.9% | -41.2% | -21.1% | +9.3% | +34.8% | +91.7% | +157.8% | +130.1% | +111.8% | -8.2% | -54.5% | -49.3% | -43.6% | -12.8% | +15.4% | +32.6% | |
| P/B Ratio | 26.69 | 38.33 | 25.11 | 22.21 | 15.98 | 12.59 | 9.83 | 10.76 | 12.73 | 16.46 | 15.93 | 12.54 | 10.24 | 10.52 | 8.09 | 6.77 | 7.04 | 9.39 | 12.89 | 15.27 | 15.01 |
| — | +204.6% | +155.4% | +106.4% | +25.5% | -23.5% | -38.3% | -14.2% | +24.3% | +56.4% | +97.0% | +85.4% | +45.4% | +12.1% | -37.3% | -55.7% | -53.1% | -39.4% | -18.0% | +20.0% | +67.4% | |
| P/FCF | 67.48 | 145.32 | 82.06 | 33.83 | 25.55 | 13.03 | 22.91 | 27.80 | 18.50 | 46.14 | 24.93 | 19.26 | 23.58 | 20.69 | 10.58 | 14.38 | 12.44 | 46.32 | 31.72 | 18.99 | 68.01 |
| — | +1015.6% | +258.2% | +21.7% | +38.1% | -71.8% | -8.1% | +44.3% | -21.6% | +123.0% | +135.8% | +33.9% | +89.5% | -55.3% | -66.7% | -24.3% | -81.7% | +164.1% | +61.5% | -72.6% | +224.2% | |
| EV / EBITDA | 37.98 | 45.25 | 30.60 | 29.21 | 20.81 | 16.61 | 13.95 | 16.45 | 19.65 | 28.75 | 27.70 | 22.32 | 18.48 | 22.79 | 16.37 | 8.03 | 7.47 | 9.64 | 15.38 | 17.40 | 15.20 |
| — | +172.5% | +119.4% | +77.6% | +5.9% | -42.2% | -49.6% | -26.3% | +6.3% | +26.1% | +69.3% | +177.9% | +147.5% | +136.4% | +6.4% | -53.8% | -50.9% | -42.8% | -9.5% | +4.6% | +24.9% | |
| EV / EBIT | 40.03 | 48.11 | 32.34 | 29.76 | 21.60 | 17.17 | 14.63 | 16.88 | 19.93 | 29.08 | 27.86 | 22.61 | 19.21 | 23.64 | 17.16 | 8.35 | 7.79 | 10.75 | 16.62 | 17.61 | 15.90 |
| — | +180.1% | +121.1% | +76.2% | +8.4% | -40.9% | -47.5% | -25.3% | +3.7% | +23.0% | +62.4% | +170.9% | +146.8% | +119.9% | +3.3% | -52.6% | -51.0% | -37.7% | -7.0% | +0.7% | +23.1% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.5% | 51.7% | 49.8% | 49.6% | 50.4% | 50.1% | 49.0% | 47.4% | 48.0% | 47.5% | 47.5% | 46.8% | 47.5% | 45.5% | 41.5% | 45.0% | 46.1% | 45.3% | 44.7% | 46.8% | 45.9% |
| — | +3.3% | +1.6% | +4.7% | +5.0% | +5.4% | +3.3% | +1.3% | +1.1% | +4.5% | +14.4% | +3.9% | +3.2% | +0.3% | -7.3% | -3.8% | +0.3% | -1.9% | -3.3% | +0.8% | -3.1% | |
| Operating Margin | 35.3% | 37.4% | 35.0% | 33.9% | 34.4% | 33.7% | 33.1% | 30.5% | 30.3% | 29.1% | 27.9% | 28.1% | 29.4% | 26.6% | 24.4% | 31.8% | 33.5% | 31.9% | 29.4% | 31.7% | 31.9% |
| — | +11.1% | +5.9% | +11.1% | +13.3% | +15.7% | +18.7% | +8.4% | +3.2% | +9.2% | +14.4% | -11.6% | -12.2% | -16.5% | -17.1% | +0.6% | +5.0% | +0.5% | -5.5% | +8.4% | +5.4% | |
| Net Margin | 31.3% | 33.9% | 31.2% | 29.8% | 29.5% | 33.3% | 28.2% | 27.2% | 26.8% | 26.4% | 25.5% | 25.4% | 25.5% | 25.0% | 21.0% | 27.8% | 28.1% | 26.1% | 25.2% | 28.3% | 27.4% |
| — | +1.8% | +10.9% | +9.6% | +10.0% | +26.2% | +10.7% | +7.2% | +5.1% | +5.3% | +21.0% | -8.7% | -9.3% | -4.1% | -16.4% | -1.6% | +2.5% | -5.6% | -9.6% | +12.4% | +5.7% |
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 65.1% | 19.8% | 17.6% | 15.7% | 15.6% | 17.8% | 14.5% | 13.8% | 13.1% | 12.3% | 11.9% | 11.7% | 10.9% | 9.7% | 9.7% | 18.7% | 20.8% | 19.6% | 16.3% | 19.4% | 19.9% |
| — | +11.2% | +21.2% | +13.7% | +19.2% | +44.1% | +22.2% | +17.5% | +20.2% | +27.6% | +22.1% | -37.2% | -47.6% | -50.8% | -40.4% | -3.8% | +4.6% | -2.1% | -17.0% | +22.2% | +28.3% | |
| ROA | 32.4% | 10.3% | 8.7% | 7.4% | 7.3% | 8.3% | 6.7% | 6.0% | 5.8% | 5.5% | 5.2% | 5.1% | 4.8% | 4.2% | 4.2% | 7.7% | 7.9% | 7.2% | 6.1% | 7.4% | 7.5% |
| — | +23.4% | +29.5% | +21.7% | +24.4% | +51.1% | +28.3% | +18.3% | +22.7% | +30.6% | +23.1% | -34.0% | -40.1% | -41.0% | -31.1% | +4.5% | +5.9% | -2.5% | -12.1% | +29.7% | +34.9% | |
| ROIC | 65.2% | 18.3% | 17.0% | 16.5% | 17.2% | 15.8% | 14.1% | 12.9% | 12.6% | 11.3% | 10.6% | 10.2% | 9.7% | 8.0% | 8.3% | 14.8% | 16.0% | 15.2% | 13.5% | 15.3% | 15.4% |
| — | +15.7% | +21.3% | +28.1% | +36.7% | +40.6% | +32.2% | +26.0% | +29.5% | +40.5% | +27.3% | -31.0% | -39.2% | -47.3% | -38.3% | -2.7% | +4.0% | +8.7% | +14.4% | +48.8% | +40.9% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.30 | 0.33 | 0.35 | 0.44 | 0.44 | 0.45 | 0.47 | 0.57 | 0.59 | 0.58 | 0.62 | 0.61 | 0.62 | 0.61 | 0.60 | 0.60 | 0.67 | 0.80 | 0.83 | 0.77 | 0.86 |
| — | -27.3% | -25.2% | -21.9% | -25.2% | -22.1% | -24.1% | -6.7% | -5.0% | -4.4% | +4.3% | +0.6% | -8.2% | -23.4% | -28.4% | -21.9% | -21.4% | -3.8% | -23.2% | -27.1% | -20.1% | |
| Debt / EBITDA | 0.43 | 1.57 | 1.73 | 2.34 | 2.32 | 2.44 | 2.70 | 3.48 | 3.67 | 4.10 | 4.34 | 4.34 | 4.48 | 5.31 | 4.84 | 2.83 | 2.82 | 3.19 | 3.92 | 3.52 | 3.44 |
| — | -35.8% | -36.1% | -32.8% | -36.7% | -40.6% | -37.8% | -19.7% | -18.0% | -22.7% | -10.3% | +53.2% | +58.7% | +66.2% | +23.4% | -19.4% | -18.0% | -10.8% | -14.0% | -34.4% | -39.0% | |
| Current Ratio | 2.63 | 2.63 | 2.54 | 2.26 | 2.21 | 2.21 | 2.45 | 2.54 | 2.53 | 2.97 | 2.82 | 3.06 | 3.06 | 3.16 | 3.09 | 3.01 | 2.69 | 2.69 | 2.83 | 3.13 | 3.27 |
| — | +19.0% | +3.4% | -11.3% | -12.6% | -25.6% | -13.0% | -16.7% | -17.5% | -6.1% | -8.8% | +1.3% | +13.6% | +17.5% | +9.1% | -3.8% | -17.6% | -18.5% | -9.6% | -1.9% | -1.2% | |
| Quick Ratio | 1.91 | 1.91 | 1.77 | 1.61 | 1.60 | 1.55 | 1.64 | 1.73 | 1.74 | 2.00 | 1.84 | 2.02 | 1.94 | 2.01 | 1.99 | 1.95 | 1.83 | 1.82 | 2.00 | 2.34 | 2.43 |
| — | +22.8% | +8.2% | -7.1% | -8.1% | -22.2% | -11.1% | -14.3% | -10.5% | -0.6% | -7.5% | +3.3% | +6.0% | +10.3% | -0.6% | -16.4% | -24.5% | -28.3% | -17.4% | -8.0% | -9.5% | |
| Interest Coverage | — | — | 52.04 | 44.24 | 43.79 | 41.59 | 35.01 | 30.76 | 29.80 | 25.86 | 24.18 | 24.47 | 23.63 | 19.56 | 20.89 | 36.40 | 36.93 | 30.40 | 25.29 | 30.00 | 30.82 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying LRCX stock.
Lam Research Corporation's current P/E is 45.8x. The average P/E over the last 4 quarters is 37.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Lam Research Corporation's current operating margin is 35.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Lam Research Corporation's business trajectory between earnings reports.