LRCX (Lam Research Corporation) Stock Financials & Earnings | Market Cap Arena

LRCX (Lam Research Corporation) Stock Financials & Earnings | Market Cap Arena

LRCXLam Research Corporation

Mkt Cap$269B

LRCXLam Research Corporation

$269B

Company Info & Key Metrics

Technology Semiconductors

Country🇺🇸 United States

ExchangeNASDAQ

Revenue$5.3B

YoY Growth+22.1%

QoQ Growth+0.4%

Net Income$1.6B

EPS$1.26

Free Cash Flow$1.7B

Gross Margin49.6%

Op. Margin33.9%

Net Margin29.8%

FCF Margin31.2%

Rev Multiple (TTM)13.1x

P/E Ratio (TTM)43.2x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q3 23	$3.9B	$1.6B	$942M
Q4 23	$3.2B	$1.5B	$855M
Q1 24	$3.5B	$1.7B	$1.0B
Q2 24	$3.8B	$1.8B	$1.1B
Q3 24	$3.8B	$1.8B	$1.1B
Q4 24	$3.9B	$1.8B	$1.1B
Q1 25	$4.2B	$2.0B	$1.3B
Q2 25	$4.4B	$2.1B	$1.3B
Q3 25	$4.7B	$2.3B	$1.6B
Q4 25	$5.2B	$2.6B	$1.7B
Q1 26	$5.3B	$2.7B	$1.8B
Q2 26	$5.3B	$2.7B	$1.8B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q3 23	14.2x	54.6x
Q4 23	15.4x	59.6x
Q1 24	17.0x	67.6x
Q2 24	18.8x	77.7x
Q3 24	18.9x	74.4x
Q4 24	18.0x	70.2x
Q1 25	17.2x	66.2x
Q2 25	16.6x	62.6x
Q3 25	15.7x	57.7x
Q4 25	14.6x	50.1x
Q1 26	13.7x	46.2x
Q2 26	13.1x	43.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 23	$1.7B	$1.6B
Q4 23	$1.1B	$1.0B
Q1 24	$951M	$874M
Q2 24	$1.5B	$1.3B
Q3 24	$1.4B	$1.3B
Q4 24	$862M	$762M
Q1 25	$1.6B	$1.5B
Q2 25	$742M	$853M
Q3 25	$1.3B	$1.0B
Q4 25	$2.6B	$2.4B
Q1 26	$1.8B	$1.6B
Q2 26	$1.5B	$1.7B

Capital Expenditures

CapEx

Quarter	CapEx
Q3 23	$119M
Q4 23	$79M
Q1 24	$77M
Q2 24	$115M
Q3 24	$104M
Q4 24	$101M
Q1 25	$111M
Q2 25	$111M
Q3 25	$288M
Q4 25	$172M
Q1 26	$185M
Q2 26	$185M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 23	-4.7%	+2.1%
Q4 23	-30.8%	-25.5%
Q1 24	-31.4%	-27.2%
Q2 24	-28.8%	-24.9%
Q3 24	-2.0%	-6.5%
Q4 24	+20.7%	+16.7%
Q1 25	+19.7%	+18.1%
Q2 25	+16.4%	+12.6%
Q3 25	+24.4%	+15.4%
Q4 25	+33.6%	+25.0%
Q1 26	+27.7%	+20.4%
Q2 26	+22.1%	+16.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 23	$74M	1.9%
Q4 23	$68M	2.1%
Q1 24	$67M	1.9%
Q2 24	$70M	1.9%
Q3 24	$77M	2.0%
Q4 24	$79M	2.0%
Q1 25	$80M	1.9%
Q2 25	$82M	1.9%
Q3 25	$87M	1.8%
Q4 25	$94M	1.8%
Q1 26	$97M	1.8%
Q2 26	$89M	1.7%

OpEx Breakdown

Quarter	R&D	SG&A
Q3 23	$429M	$194M
Q4 23	$402M	$200M
Q1 24	$423M	$207M
Q2 24	$470M	$229M
Q3 24	$512M	$215M
Q4 24	$498M	$217M
Q1 25	$495M	$243M
Q2 25	$495M	$244M
Q3 25	$526M	$226M
Q4 25	$580M	$268M
Q1 26	$576M	$279M
Q2 26	$573M	$268M

Revenue Segments

Quarter	Customer Support and Other	System
Q3 23	$1.6B	$2.3B
Q1 24	$1.4B	$2.1B
Q2 24	$1.5B	$2.3B
Q3 24	$1.4B	$2.4B
Q4 24	$1.7B	$2.2B
Q1 25	$1.8B	$2.4B
Q2 25	$1.8B	$2.6B
Q3 25	$1.7B	$3.0B
Q4 25	$1.7B	$3.4B
Q1 26	$1.8B	$3.5B
Q2 26	$2.0B	$3.4B

Revenue by Geography

Quarter	China	Europe	Japan	Korea, Republic Of	South East Asia	Taiwan, Province Of China	United States
Q3 23	$840M	$312M	$406M	$848M	$156M	$714M	$594M
Q1 24	$1.7B	$238M	$325M	$548M	$159M	$242M	$282M
Q2 24	$1.5B	$176M	$513M	$712M	$146M	$500M	$219M
Q4 24	$1.5B	$115M	$283M	$697M	$489M	$594M	$376M
Q3 25	$1.5B	$134M	$475M	$1.2B	—	$1.1B	$190M
Q4 25	$1.8B	$90M	$741M	$1.1B	—	$966M	$286M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 23	$5.3B	$64M	$5.4B
Q4 23	$5.3B	$38M	$5.4B
Q1 24	$5.1B	$31M	$5.2B
Q2 24	$5.6B	$15M	$5.6B
Q3 24	$5.7B	$0	$5.7B
Q4 24	$5.8B	$0	$5.8B
Q1 25	$6.1B	$0	$6.1B
Q2 25	$5.7B	$0	$5.7B
Q3 25	$5.5B	$0	$5.5B
Q4 25	$6.4B	$0	$6.4B
Q1 26	$6.7B	$0	$6.7B
Q2 26	$6.2B	$0	$6.2B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q3 23	1.35B	-0.7%
Q4 23	1.34B	-0.7%
Q1 24	1.33B	-0.9%
Q2 24	1.32B	-0.7%
Q3 24	1.32B	-0.5%
Q4 24	1.32B	+0.4%
Q1 25	1.30B	-1.2%
Q2 25	1.29B	-1.0%
Q3 25	1.29B	-0.3%
Q4 25	1.28B	-0.9%
Q1 26	1.27B	-0.6%
Q2 26	1.27B	-0.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$709K	7K
FY 15	$720K	7K
FY 16	$785K	8K
FY 17	$853K	9K
FY 18	$1M	11K
FY 19	$902K	11K
FY 20	$889K	11K
FY 21	$1M	14K
FY 22	$973K	18K
FY 23	$1M	17K
FY 24	$854K	17K
FY 25	$970K	19K