LRCX FY 2019 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2019 Earnings

Reported August 20, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$9.7B	—	$11.1B	—	-12.9%
Op. Income	$2.5B	—	$3.2B	—	-23.3%
Gross Margin	45.1%	—	46.6%	—	-1.5pp
Net Margin	22.7%	—	21.5%	—	1.2pp
EPS (Diluted)	$1.37	—	$1.32	—	3.8%
Free Cash Flow	$2.9B	—	$2.4B	—	20.6%

Revenue Flow

Item	Amount
REVENUE	$9.7B
Cost of Revenue	$5.3B
GROSS PROFIT	$4.4B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$702M
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$7.2B
OPERATING INCOME	$2.5B
Interest Income	$99M
Interest Expense	$117M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$2.4B
Income Tax Expense	$255M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$309M
EBIT	$2.6B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$9.7B
Cost of Revenue	$5.3B
GROSS PROFIT	$4.4B
R&D Expenses	$1.2B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$702M
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$7.2B
OPERATING INCOME	$2.5B
Interest Income	$99M
Interest Expense	$117M
Other Income/Expenses	-$18M
INCOME BEFORE TAX	$2.4B
Income Tax Expense	$255M
Net Income from Continuing Ops	$2.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.2B
D&A	$309M
EBIT	$2.6B
EBITDA	$2.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$2.2B
Depreciation & Amortization	$309M
Stock-Based Compensation	$187M
Deferred Income Tax	-$5M
Other Non-Cash Items	$2M
Change in Working Capital	$492M
OPERATING CASH FLOW	$3.2B
Capital Expenditure	-$303M
Acquisitions (Net)	$303M
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$1.6B
Other Investing Activities	-$1.9B
NET CASH FROM INVESTING	-$1.6B
Net Debt Issuance	$2.0B
Common Stock Repurchased	-$3.8B
Common Dividends Paid	-$678M
Other Financing Activities	$65M
NET CASH FROM FINANCING	-$2.4B
FREE CASH FLOW	$2.9B
Net Change in Cash	-$855M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.7B
Short-Term Investments	$1.8B
Net Receivables	$1.5B
Inventory	$1.5B
Other Current Assets	$1M
TOTAL CURRENT ASSETS	$8.6B
PP&E (Net)	$1.1B
Goodwill	$1.5B
Intangible Assets	$217M
Long-Term Investments	$0
Tax Assets	-$257M
Other Non-Current Assets	$937M
TOTAL NON-CURRENT ASSETS	$3.4B
TOTAL ASSETS	$12.0B
Account Payables	$377M
Short-Term Debt	$667M
Deferred Revenue	$381M
Other Current Liabilities	$464M
TOTAL CURRENT LIABILITIES	$2.4B
Long-Term Debt	$3.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.1B
TOTAL NON-CURRENT LIABILITIES	$4.9B
TOTAL LIABILITIES	$7.3B
Common Stock	$144.0K
Additional Paid-In Capital	$6.4B
Retained Earnings	$9.9B
Treasury Stock	-$11.6B
Accum. Other Comp. Income	-$64M
Other Equity	$49M
TOTAL STOCKHOLDERS' EQUITY	$4.7B
Minority Interest	$0
TOTAL EQUITY	$4.7B
TOTAL LIABILITIES & EQUITY	$12.0B
Total Debt	$4.5B
Net Debt	$832M