LRCX FY 2020 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

FY 2020 Earnings

Reported August 18, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$10.0B	—	$9.7B	—	4.1%
Op. Income	$2.7B	—	$2.5B	—	8.5%
Gross Margin	45.9%	—	45.1%	—	0.7pp
Net Margin	22.4%	—	22.7%	—	-0.3pp
EPS (Diluted)	$1.51	—	$1.37	—	10.2%
Free Cash Flow	$1.9B	—	$2.9B	—	-33.0%

Revenue Flow

Item	Amount
REVENUE	$10.0B
Cost of Revenue	$5.4B
GROSS PROFIT	$4.6B
R&D Expenses	$1.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$682M
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$7.4B
OPERATING INCOME	$2.7B
Interest Income	$85M
Interest Expense	$177M
Other Income/Expenses	-$99M
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$323M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$269M
EBIT	$2.8B
EBITDA	$3.0B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$10.0B
Cost of Revenue	$5.4B
GROSS PROFIT	$4.6B
R&D Expenses	$1.3B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$682M
Other Expenses	$0
Operating Expenses	$1.9B
Cost & Expenses	$7.4B
OPERATING INCOME	$2.7B
Interest Income	$85M
Interest Expense	$177M
Other Income/Expenses	-$99M
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$323M
Net Income from Continuing Ops	$2.3B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.3B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.3B
D&A	$269M
EBIT	$2.8B
EBITDA	$3.0B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$2.3B
Depreciation & Amortization	$269M
Stock-Based Compensation	$189M
Deferred Income Tax	-$18M
Other Non-Cash Items	$7M
Change in Working Capital	-$572M
OPERATING CASH FLOW	$2.1B
Capital Expenditure	-$203M
Acquisitions (Net)	$203M
Purchases of Investments	-$2.9B
Sales/Maturities of Investments	$2.9B
Other Investing Activities	-$229M
NET CASH FROM INVESTING	-$244M
Net Debt Issuance	$1.3B
Common Stock Repurchased	-$1.4B
Common Dividends Paid	-$657M
Other Financing Activities	$95M
NET CASH FROM FINANCING	-$624M
FREE CASH FLOW	$1.9B
Net Change in Cash	$1.3B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.9B
Short-Term Investments	$1.8B
Net Receivables	$2.1B
Inventory	$1.9B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$10.9B
PP&E (Net)	$1.2B
Goodwill	$1.5B
Intangible Assets	$169M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$806M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$14.6B
Account Payables	$592M
Short-Term Debt	$836M
Deferred Revenue	$458M
Other Current Liabilities	$520M
TOTAL CURRENT LIABILITIES	$3.2B
Long-Term Debt	$5.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.2B
TOTAL NON-CURRENT LIABILITIES	$6.2B
TOTAL LIABILITIES	$9.4B
Common Stock	$145.0K
Additional Paid-In Capital	$6.7B
Retained Earnings	$11.5B
Treasury Stock	-$12.9B
Accum. Other Comp. Income	-$94M
Other Equity	$11M
TOTAL STOCKHOLDERS' EQUITY	$5.2B
Minority Interest	$0
TOTAL EQUITY	$5.2B
TOTAL LIABILITIES & EQUITY	$14.6B
Total Debt	$5.8B
Net Debt	$896M