Not investment advice. FilingSight is an automated analytical research tool, not a registered investment advisor. Ratings and scores are quantitative analytical classifications, not buy or sell recommendations. Nothing here is personalized to your circumstances. Investing involves risk of loss — consult a licensed professional. See full disclosures.
Create a free account to read 3 full reports each month — plus a 14-day Pro trial. Get started →
Lam Research Corp.
LRCXSemiconductorsGenerated Aug 19, 2026, 05:33 PM UTC
LRCX (Lam Research Corp.) analytical snapshot. Revenue grew +26.0% YoY to $23.23B. 5-year revenue CAGR +6.2%; 10y CAGR +12.6%. Net margin at 31.27% (expanding ▲). Market cap $385.88B at $308.38 per share. Trailing P/E 53.54, P/S 16.61, P/B 30.94. EV/Operating income ≈ 46.83 (EV $384.02B). Risk: Low. Macro: Risk-on · Supportive. Composite analytical score 5 (data confidence 84%). Descriptive analytics from public filings — not investment advice.
Market cap
$385.88B
1.25B shares
Price
$308.38
NMS
P/E (ttm)
53.54
Revenue (FY)
$23.23B
YoY +26.0%
Net margin
31.27%
▲ 5.39pp
Free cash flow
$4.89B
21.05% margin
Risk level
Low
Free SEC analysis
— computed from SEC filings, free to readFree previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 20Improving
80% conf
Latest annual report (10-K) filed Aug 7, 2026. Latest quarterly report (10-Q) filed Apr 23, 2026. 10 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Aug 7, 2026.
- Latest quarterly report (10-Q) filed Apr 23, 2026.
- 10 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~10,000+ recent 13F-HR filings reference Lam Research Corp.; broad institutional reporting.
- Recent filers include LANSDOWNE PARTNERS (UK) LLP, LANSDOWNE PARTNERS (UK) LLP, LANSDOWNE PARTNERS (UK) LLP.
- 20 recent 13G passive institutional ownership notices.
Latest 10-K
Aug 7, 2026
Annual report
Latest 10-Q
Apr 23, 2026
8-K (recent)
10
Insider net
—
0B/0S
13F filers
10k+
Activist 13D
0
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | Feb 14, 2020 |
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | Nov 13, 2019 |
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | Aug 13, 2019 |
| LANSDOWNE PARTNERS (UK) LLP | 13F-HR | May 15, 2020 |
| Amida Capital Management II, LLC | 13F-HR | Aug 12, 2014 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jul 29, 2026 | 8-K | 8-K |
| Apr 22, 2026 | 8-K | 8-K |
| Feb 3, 2026 | 8-K | 8-K |
| Jan 28, 2026 | 8-K | 8-K |
| Nov 6, 2025 | 8-K | 8-K |
| Oct 22, 2025 | 8-K | 8-K |
| Sep 11, 2025 | 8-K | 8-K |
| Jul 30, 2025 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -42Deteriorating
72% conf
3 risk signal(s), 1 watch item(s) detected from XBRL filing diff analysis. Revenue grew +26.0% but receivables grew +58.1% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- Receivables outpacing revenue: Accounts receivable grew +58.1% YoY vs revenue growth of +26.0%. The +32.0% spread suggests extended credit terms, channel stuffing risk, or collection deterioration. Investigate the allowance for doubtful accounts and DSO trend.
- Earnings-cash flow divergence: Net income grew +35.6% while operating cash flow declined -5.1%. This divergence may indicate accrual-based earnings inflation — non-cash gains, aggressive revenue recognition, or working capital absorption. The accrual ratio (NI − OCF) is deteriorating.
- NEW: Restatement of financial statements in latest filing: The term "restatement of" "previously issued" appears in recent 10-K/10-Q filings but was NOT present in the prior 24-month period. This is a new risk disclosure that warrants attention. Found in 5 filing(s).
- R&D intensity declining: R&D as % of revenue fell from 11.4% to 10.2%. This may signal reduced innovation investment — potentially impacting long-term competitive position. Compare with peer R&D trends.
- Endogenous analysis: Revenue grew +26.0% but receivables grew +58.1% — the receivables-to-revenue gap suggests growth may be partially driven by extended credit terms rather than genuine demand. If DSO continues to rise, a revenue reversal or bad-debt charge could follow.
- 20 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 16 disclosure(s) dropped from prior year — reduced reporting granularity.
- 1 new risk-language term(s) detected in filing text: Restatement of financial statements.
Revenue
$23.23B
+26.0% YoY
Gross profit
$11.73B
+30.6% YoY
Operating income
$8.20B
+39.0% YoY
Net income
$7.27B
+35.6% YoY
Operating cash flow
$5.86B
-5.1% YoY
Capex
$966.4M
+27.3% YoY
Total assets
$23.53B
+10.2% YoY
Total liabilities
$11.06B
-3.7% YoY
Filing quality score
80/100
20 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $18.44B | $23.23B | $4.80B | +26.0% |
| Gross profit | $8.98B | $11.73B | $2.75B | +30.6% |
| Operating income | $5.90B | $8.20B | $2.30B | +39.0% |
| Net income | $5.36B | $7.27B | $1.91B | +35.6% |
| Operating cash flow | $6.17B | $5.86B | $-315.6M | -5.1% |
| Capex | $759.2M | $966.4M | $207.2M | +27.3% |
| Total assets | $21.35B | $23.53B | $2.18B | +10.2% |
| Total liabilities | $11.48B | $11.06B | $-424.8M | -3.7% |
| Long-term debt | $4.47B | $3.72B | $-747.3M | -16.7% |
| Cash & equivalents | $6.39B | $5.58B | $-811.5M | -12.7% |
| Stockholders equity | $9.86B | $12.47B | $2.61B | +26.5% |
| Inventory | $4.31B | $4.28B | $-31.9M | -0.7% |
| Accounts receivable | $3.38B | $5.34B | $1.96B | +58.1% |
| R&D expense | $2.10B | $2.38B | $279.5M | +13.3% |
| SG&A expense | $981.7M | $1.15B | $167.9M | +17.1% |
| Interest expense | $177.2M | $155.9M | $-21.3M | -12.0% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate, EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate, EffectiveIncomeTaxRateReconciliationCrossBorderOtherAmount, EffectiveIncomeTaxRateReconciliationCrossBorderOtherPercent, EffectiveIncomeTaxRateReconciliationGiltiAmount, EffectiveIncomeTaxRateReconciliationGiltiPercent, EffectiveIncomeTaxRateReconciliationNondeductibleExpense, EffectiveIncomeTaxRateReconciliationOtherAdjustments, EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes, EffectiveIncomeTaxRateReconciliationTaxContingencies |
| Removed | AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation, DeferredTaxAssetsGoodwillAndIntangibleAssets, DeferredTaxAssetsInventory, DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost, DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill, DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityUndistributedEarningsOfForeignSubsidiaries, ImpairmentOfLongLivedAssetsHeldForUse, PaymentsForRestructuring, PaymentsToAcquireBusinessesNetOfCashAcquired, RestructuringCharges |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Restatement of financial statements | high | 5 | 0 | NEW |
| Impairment charge | medium | 5 | 8 | Ongoing |
| Restructuring | medium | 5 | 10 | Ongoing |
| Off-balance sheet arrangements | medium | 5 | 3 | Ongoing |
| Related party transactions | low | 5 | 3 | Ongoing |
Filing signal breakdown
Red flags: 3
Positive: 0
Watch: 1
Red flags
Positive
Watch
Free previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 95Improving
80% conf
Revenue grew +26.0% YoY to $23.23B. 5-year revenue CAGR +6.2%; 10y CAGR +12.6%. Net margin at 31.27% (expanding ▲).
- Revenue grew +26.0% YoY to $23.23B.
- 5-year revenue CAGR +6.2%; 10y CAGR +12.6%.
- Net margin at 31.27% (expanding ▲).
- Return on equity 58.26%, ROA 30.88%, ROIC 50.64%.
- Gross margin 50.47%, operating margin 35.29%.
- Free cash flow margin 21.05% ($4.89B).
- Net income up ▲ +35.6% YoY.
- Debt/equity 0.30, current ratio 2.63, net debt -$1.86B.
- Asset turnover 0.99 — capital efficiency.
Revenue (FY)
$23.23B
YoY +26.0%
Net margin
31.27%
▲ 5.39pp
ROE
58.26%
ROA 30.88%
ROIC
50.64%
EPS (diluted)
$5.76
FY2026
Free cash flow
$4.89B
21.05% margin
Debt / equity
0.30
Cash $5.58B
Current ratio
2.63
Equity $12.47B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2025 | $18.44B | +23.7% | 48.71 | 32.01 | 29.06 | $5.41B | 54.33 |
| 2026 | $23.23B | +26.0% | 50.47 | 35.29 | 31.27 | $4.89B | 58.26 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Sep 26, 2010 | $805.9M | — | — | 24.04% |
| Dec 26, 2010 | $870.7M | — | +8.0% | 25.48% |
| Mar 27, 2011 | $809.1M | — | -7.1% | 22.52% |
| Sep 25, 2011 | $680.4M | — | -15.9% | 10.56% |
| Dec 25, 2011 | $584.0M | — | -14.2% | 5.69% |
| Mar 25, 2012 | $659.0M | — | +12.8% | 6.92% |
Sources:SEC EDGAR — Company Facts (XBRL)
+8 more years of history, charts & full breakdown Pro
Pro analysis — preview
— score, signals & key metrics shown; full reasoning lockedValuation
Valuation Analyst
score -80Deteriorating
95% conf
Market cap $385.88B at $308.38 per share. Trailing P/E 53.54, P/S 16.61, P/B 30.94. EV/Operating income ≈ 46.83 (EV $384.02B).
- Market cap $385.88B at $308.38 per share.
Market cap
$385.88B
1.25B shares
P/E (ttm)
53.54
P/S
16.61
P/B
30.94
EV
$384.02B
Intrinsic (DCF)
$106.27
-65.5% vs price
ProFull breakdown & reasoning locked
Price & Technicals
Technical Analyst
score -5Stable
85% conf
Price $308.38 — uptrend (above 200-DMA); 1-month momentum negative. RSI(14) 53.97.
- Price $308.38 — uptrend (above 200-DMA); 1-month momentum negative.
Price
$308.38
NMS
RSI(14)
53.97
50-DMA
$337.79
200-DMA
$252.07
Volatility (ann.)
63.38%
52w range
$94.11–$438.50
-29.7% from high
ProFull breakdown & reasoning locked
Macro & Rates
Macro Analyst
score 30Improving
80% conf
Risk-on · Supportive. Real GDP growth 1.50% (quarterly, as of Apr 1, 2026). CPI inflation +3.3% YoY. Fed funds rate 3.63%, 10Y Treasury 4.72%.
- Market regime: Risk-on · Supportive.
GDP growth
1.50%
CPI (YoY)
+3.3%
Fed funds
3.63%
10Y yield
4.72%
10Y−2Y
0.52pp
Unemployment
4.10%
ProFull breakdown & reasoning locked
Risk Scorecard
Risk Analyst
score 10Stable
90% conf
Composite risk Low. Leverage debt/equity 0.30 (low). Liquidity current ratio 2.63 (adequate).
- Composite risk: Low.
Risk level
Low
Debt / equity
0.30
Current ratio
2.63
Margin stdev
13.50pp
Cash / assets
23.71%
Liab / assets
47.00%
ProFull breakdown & reasoning locked
See the full picture behind every stock
Unlock the complete 10-year fundamentals, DCF & Graham intrinsic value, 13F/13D ownership flow, risk scorecard, multi-analyst bull/bear debate — plus watchlist alerts and your research workspace. Start with a 14-day Pro trial.
3 sections free · 4 Pro previews · composite 5
Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. Lam Research Corp. is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
15.84
Fed funds
3.63%
CPI YoY
+3.3%
Analytical read
deterministic previewRevenue grew **+26.0%** YoY to $23.23B..
Risk
Low
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow LRCX stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| CF Industries CF | 33 | Supportive |
| Newmont Corp. NEM | 32 | Supportive |
| Booking Holdings BKNG | 32 | Supportive |
| Uber Technologies UBER | 32 | Supportive |
| Shopify Inc. SHOP | 30 | Supportive |
| Alphabet Inc. GOOGL | 29 | Supportive |
| Intuit Inc. INTU | 28 | Supportive |
| Pinterest Inc. PINS | 28 | Supportive |
| Salesforce Inc. CRM | 27 | Supportive |
| Workday Inc. WDAY | 20 | Supportive |
| Microsoft Corp. MSFT | 19 | Supportive |
| MercadoLibre Inc. MELI | 18 | Supportive |
| Adobe Inc. ADBE | 18 | Supportive |
| NVIDIA Corp. NVDA | 17 | Supportive |
| Netflix Inc. NFLX | 17 | Supportive |
| Roku Inc. ROKU | 15 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Comcast Corp. CMCSA | 15 | Supportive |
| Cloudflare Inc. NET | 14 | Supportive |
| Meta Platforms Inc. META | 14 | Supportive |
| Datadog Inc. DDOG | 14 | Supportive |
| Marvell Technology MRVL | 12 | Supportive |
| Amazon.com Inc. AMZN | 11 | Supportive |
| Airbnb Inc. ABNB | 10 | Supportive |
| Delta Air Lines DAL | 9 | Supportive |
| Eaton Corp. ETN | 9 | Supportive |
| T-Mobile US Inc. TMUS | 9 | Supportive |
| Energy Transfer ET | 8 | Supportive |
| ConocoPhillips COP | 8 | Supportive |
| Spotify Technology SPOT | 8 | Supportive |
| Exxon Mobil Corp. XOM | 8 | Supportive |
| GE Aerospace GE | 7 | Supportive |
| Zscaler Inc. ZS | 7 | Supportive |
| Valero Energy VLO | 7 | Supportive |
| Snowflake Inc. SNOW | 7 | Supportive |
| IBM Corp. IBM | 6 | Supportive |
| General Dynamics GD | 6 | Supportive |
| United Airlines Holdings UAL | 5 | Supportive |
| Boeing Co. BA | 5 | Supportive |
| Oracle Corp. ORCL | 5 | Supportive |
| Lam Research Corp. LRCX● you | 5 | Supportive |
| Qualcomm Inc. QCOM | 5 | Supportive |
| ASML Holding NV ASML | 4 | Supportive |
| Verizon Communications VZ | 4 | Supportive |
| Alibaba Group BABA | 3 | Supportive |
| Honeywell International HON | 3 | Supportive |
| Dollar General Corp. DG | 3 | Supportive |
| Advanced Micro Devices AMD | 1 | Supportive |
| Ulta Beauty Inc. ULTA | 1 | Supportive |
| Devon Energy DVN | 1 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| Walt Disney Co. DIS | 0 | Supportive |
| Kinder Morgan KMI | 0 | Supportive |
| Occidental Petroleum OXY | -1 | Supportive |
| Royal Caribbean Group RCL | -1 | Supportive |
| General Motors Co. GM | -2 | Supportive |
| Apple Inc. AAPL | -3 | Supportive |
| Union Pacific Corp. UNP | -4 | Supportive |
| Applied Materials Inc. AMAT | -4 | Supportive |
| EOG Resources EOG | -4 | Supportive |
| CrowdStrike Holdings CRWD | -5 | Supportive |
| Chipotle Mexican Grill CMG | -5 | Supportive |
| Nucor Corp. NUE | -5 | Supportive |
| Lowe's Cos. LOW | -5 | Supportive |
| RTX Corp. RTX | -6 | Supportive |
| Schlumberger N.V. SLB | -6 | Supportive |
| Cisco Systems Inc. CSCO | -6 | Supportive |
| Linde plc LIN | -7 | Supportive |
| Autodesk Inc. ADSK | -7 | Supportive |
| Norfolk Southern NSC | -8 | Supportive |
| Phillips 66 PSX | -8 | Supportive |
| Lockheed Martin LMT | -8 | Supportive |
| Sherwin-Williams SHW | -9 | Supportive |
| Marathon Petroleum MPC | -9 | Supportive |
| Palo Alto Networks PANW | -9 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| TJX Cos. TJX | -10 | Supportive |
| Micron Technology MU | -10 | Supportive |
| ServiceNow Inc. NOW | -11 | Supportive |
| McDonald's Corp. MCD | -12 | Supportive |
| Nike Inc. NKE | -13 | Supportive |
| Freeport-McMoRan FCX | -14 | Supportive |
| Texas Instruments TXN | -14 | Supportive |
| 3M Co. MMM | -16 | Supportive |
| Broadcom Inc. AVGO | -16 | Supportive |
| Yum Brands Inc. YUM | -16 | Supportive |
| United Parcel Service UPS | -17 | Supportive |
| Caterpillar Inc. CAT | -17 | Supportive |
| Air Products & Chemicals APD | -18 | Supportive |
| Dow Inc. DOW | -18 | Supportive |
| Mosaic Co. MOS | -19 | Supportive |
| Chevron Corp. CVX | -19 | Supportive |
| Microchip Technology MCHP | -20 | Supportive |
| Intel Corp. INTC | -20 | Supportive |
| CSX Corp. CSX | -20 | Supportive |
| Albemarle Corp. ALB | -21 | Supportive |
| Marriott International MAR | -21 | Supportive |
| Home Depot Inc. HD | -22 | Supportive |
| Warner Bros Discovery WBD | -27 | Supportive |
| Starbucks Corp. SBUX | -29 | Supportive |
| Deere & Co. DE | -30 | Supportive |
| ON Semiconductor Corp. ON | -37 | Supportive |
| Tesla Inc. TSLA | -47 | Supportive |