LRCX Q3 2021 Earnings Report — Lam Research Corporation Revenue & Financial Results | Market Cap Arena

Lam Research CorporationLRCX

Q3 2021 Earnings

Reported April 28, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$3.8B	$3.5B	$2.5B	11.3%	53.7%
Op. Income	$1.2B	$1.0B	$694M	18.4%	72.2%
Gross Margin	46.3%	46.4%	46.6%	-0.1pp	-0.3pp
Net Margin	27.8%	25.1%	23.0%	2.7pp	4.9pp
EPS (Diluted)	$0.74	$0.60	$0.39	23.3%	89.7%
Free Cash Flow	$1.1B	$253M	$490M	325.8%	119.5%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.1B
GROSS PROFIT	$1.8B
R&D Expenses	$381M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$204M
Other Expenses	$0
Operating Expenses	$585M
Cost & Expenses	$2.7B
OPERATING INCOME	$1.2B
Interest Income	$4M
Interest Expense	$52M
Other Income/Expenses	-$35M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$89M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$79M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.1B
GROSS PROFIT	$1.8B
R&D Expenses	$381M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$204M
Other Expenses	$0
Operating Expenses	$585M
Cost & Expenses	$2.7B
OPERATING INCOME	$1.2B
Interest Income	$4M
Interest Expense	$52M
Other Income/Expenses	-$35M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$89M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$79M
EBIT	$1.2B
EBITDA	$1.3B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$79M
Stock-Based Compensation	$56M
Deferred Income Tax	-$1M
Other Non-Cash Items	-$635.0K
Change in Working Capital	-$39M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$90M
Acquisitions (Net)	$90M
Purchases of Investments	-$791M
Sales/Maturities of Investments	$1.0B
Other Investing Activities	-$118M
NET CASH FROM INVESTING	$116M
Net Debt Issuance	-$16M
Common Stock Repurchased	-$1.1B
Common Dividends Paid	-$187M
Other Financing Activities	-$665.0K
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$13M

Balance Sheet

Item	Amount
Cash & Equivalents	$3.7B
Short-Term Investments	$2.1B
Net Receivables	$2.8B
Inventory	$2.6B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$11.3B
PP&E (Net)	$1.3B
Goodwill	$1.5B
Intangible Assets	$143M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$1.0B
TOTAL NON-CURRENT ASSETS	$4.0B
TOTAL ASSETS	$15.3B
Account Payables	$761M
Short-Term Debt	$825M
Deferred Revenue	$734M
Other Current Liabilities	$598M
TOTAL CURRENT LIABILITIES	$3.6B
Long-Term Debt	$5.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$6.3B
TOTAL LIABILITIES	$9.9B
Common Stock	$143.0K
Additional Paid-In Capital	$6.9B
Retained Earnings	$13.7B
Treasury Stock	-$15.2B
Accum. Other Comp. Income	-$63M
Other Equity	$3M
TOTAL STOCKHOLDERS' EQUITY	$5.4B
Minority Interest	$0
TOTAL EQUITY	$5.4B
TOTAL LIABILITIES & EQUITY	$15.3B
Total Debt	$5.8B
Net Debt	$2.1B