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Lam Research Corp.
LRCXSemiconductorsGenerated Jul 5, 2026, 08:12 PM UTC
LRCX (Lam Research Corp.) analytical snapshot. Return on equity 71.85%, ROA 24.07%, ROIC 46.02%. Net income down ▼ +2.0% YoY. Debt/equity 0.42, current ratio 2.54, net debt -$281.6M. Market cap $439.46B at $351.41 per share. Trailing P/E 105.85, P/S 393.80, P/B 41.52. EV/Operating income ≈ 84.87 (EV $439.18B). Risk: Moderate. Macro: Risk-on · Supportive. Composite analytical score -8 (data confidence 83%). Descriptive analytics from public filings — not investment advice.
Market cap
$439.46B
1.25B shares
Price
$351.41
NMS
P/E (ttm)
105.85
Revenue (FY)
—
Net margin
—
Free cash flow
$4.68B
Risk level
Moderate
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 20Improving
80% conf
Return on equity 71.85%, ROA 24.07%, ROIC 46.02%. Net income down ▼ +2.0% YoY. Debt/equity 0.42, current ratio 2.54, net debt -$281.6M.
- Return on equity 71.85%, ROA 24.07%, ROIC 46.02%.
- Net income down ▼ +2.0% YoY.
- Debt/equity 0.42, current ratio 2.54, net debt -$281.6M.
Revenue (FY)
—
Net margin
—
ROE
71.85%
ROA 24.07%
ROIC
46.02%
EPS (diluted)
$3.32
FY2025
Free cash flow
$4.68B
Debt / equity
0.42
Cash $4.75B
Current ratio
2.54
Equity $10.58B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | — | — | — | — | — | — | 14.09 |
| 2017 | — | — | — | — | — | — | 13.03 |
| 2018 | — | — | — | — | — | — | 17.91 |
| 2019 | — | — | — | — | — | $1.87B | 28.80 |
| 2020 | — | — | — | — | — | $2.38B | 34.92 |
| 2021 | — | — | — | — | — | $2.87B | 33.70 |
| 2022 | — | — | — | — | — | $1.92B | 48.18 |
| 2023 | — | — | — | — | — | $3.24B | 75.56 |
| 2024 | — | — | — | — | — | $2.55B | 76.41 |
| 2025 | — | — | — | — | — | $4.68B | 71.85 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 27, 2011 | $809.1M | — | — | 73.89% |
| Sep 25, 2011 | $680.4M | — | -15.9% | 10.56% |
| Dec 25, 2011 | $1.26B | — | +85.8% | 8.31% |
| Dec 25, 2011 | $584.0M | — | -53.8% | 17.99% |
| Mar 25, 2012 | $1.92B | — | +229.4% | 7.83% |
| Mar 25, 2012 | $659.0M | — | -65.7% | 22.86% |
Free cash flow (annual)
2016: 0
2017: 0
2018: 0
2019: 1,872
2020: 2,382
2021: 2,873
2022: 1,923
2023: 3,239
2024: 2,554
2025: 4,677
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 20Improving
80% conf
Latest annual report (10-K) filed Aug 11, 2025. Latest quarterly report (10-Q) filed Apr 23, 2026. 11 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Aug 11, 2025.
- Latest quarterly report (10-Q) filed Apr 23, 2026.
- 11 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 11, 2025
Annual report
Latest 10-Q
Apr 23, 2026
8-K (recent)
11
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 |
|---|---|---|
| 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 |
| May 21, 2025 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -45Deteriorating
72% conf
3 risk signal(s) detected from XBRL filing diff analysis. 3 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- Going concern doubt: The term "going concern" appears in 1 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Material weakness in internal controls: The term "material weakness" appears in 19 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Restatement of financial statements: The term "restate" "financial statements" appears in 22 recent filing(s) (vs 1 in the prior period). This risk language is ongoing.
- Endogenous analysis: 3 risk signal(s) detected versus 0 positive signal(s). The balance of evidence suggests elevated filing-specific risk that warrants monitoring in subsequent filings.
- 1 new XBRL disclosure(s) in latest filing — expanding reporting scope.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- Ongoing high-severity risk language: Going concern doubt, Material weakness in internal controls, Restatement of financial statements.
Revenue
$1.12B
— YoY
Gross profit
$7.78B
-1.2% YoY
Operating income
$5.17B
-3.8% YoY
Net income
$4.51B
-2.0% YoY
Operating cash flow
$5.18B
+67.1% YoY
Capex
$501.6M
-8.1% YoY
Total assets
$18.74B
-0.2% YoY
Total liabilities
$10.21B
-3.5% YoY
Filing quality score
72/100
1 new disclosures
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | — | $1.12B | — | — |
| Gross profit | $7.87B | $7.78B | $-94.9M | -1.2% |
| Operating income | $5.38B | $5.17B | $-207.0M | -3.8% |
| Net income | $4.61B | $4.51B | $-94.4M | -2.0% |
| Operating cash flow | $3.10B | $5.18B | $2.08B | +67.1% |
| Capex | $546.0M | $501.6M | $-44.5M | -8.1% |
| Total assets | $18.78B | $18.74B | $-36.9M | -0.2% |
| Total liabilities | $10.57B | $10.21B | $-366.2M | -3.5% |
| Long-term debt | $4.97B | $4.97B | $2.0M | +0.0% |
| Cash & equivalents | $3.52B | $5.34B | $1.82B | +51.5% |
| Stockholders equity | $6.03B | $6.28B | $251.2M | +4.2% |
| Inventory | $4.82B | $4.22B | $-598.3M | -12.4% |
| Accounts receivable | $2.82B | $2.52B | $-304.1M | -10.8% |
| R&D expense | $1.60B | $1.73B | $122.9M | +7.7% |
| SG&A expense | $885.7M | $832.8M | $-53.0M | -6.0% |
| Interest expense | $177.4M | $208.6M | $31.2M | +17.6% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Added | StandardProductWarrantyAccrualNoncurrent |
| Removed | AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation, AmortizationOfDebtDiscountPremium, AmortizationOfFinancingCosts, BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount, CostOfGoodsAndServicesSold, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DebtInstrumentCarryingAmount, DebtInstrumentUnamortizedDiscount |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Going concern doubt | high | 1 | 1 | Ongoing |
| Material weakness in internal controls | high | 19 | 2 | Ongoing |
| Restatement of financial statements | high | 22 | 1 | Ongoing |
| Impairment charge | medium | 82 | 8 | Ongoing |
| Restructuring | medium | 114 | 9 | Ongoing |
| Off-balance sheet arrangements | medium | 52 | 3 | Ongoing |
| Related party transactions | low | 15 | 3 | Ongoing |
Filing signal breakdown
Red flags: 3
Positive: 0
Watch: 0
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $439.46B at $351.41 per share.
- ProPrice & TechnicalsPrice $351.41 — uptrend (above 200-DMA); 1-month momentum positive.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Moderate.
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3 sections free · 4 Pro sections locked · composite -8
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
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewReturn on equity **71.85%**, ROA 24.07%, ROIC 46.02%..
Risk
Moderate
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 |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Pinterest Inc. PINS | 5 | Supportive |
| Amazon.com Inc. AMZN | 4 | Supportive |
| Warner Bros Discovery WBD | 3 | Supportive |
| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Lockheed Martin LMT | 0 | Supportive |
| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| EOG Resources EOG | -2 | Supportive |
| IBM Corp. IBM | -3 | Supportive |
| Energy Transfer ET | -3 | Supportive |
| Meta Platforms Inc. META | -4 | Supportive |
| Uber Technologies UBER | -4 | Supportive |
| Phillips 66 PSX | -4 | Supportive |
| United Airlines Holdings UAL | -5 | Supportive |
| Caterpillar Inc. CAT | -5 | Supportive |
| Alibaba Group BABA | -5 | Supportive |
| Comcast Corp. CMCSA | -6 | Supportive |
| TJX Cos. TJX | -6 | Supportive |
| Starbucks Corp. SBUX | -6 | Supportive |
| Schlumberger N.V. SLB | -7 | Supportive |
| McDonald's Corp. MCD | -7 | Supportive |
| Micron Technology MU | -8 | Supportive |
| CF Industries CF | -8 | Supportive |
| Lam Research Corp. LRCX● you | -8 | Supportive |
| Delta Air Lines DAL | -8 | Supportive |
| Linde plc LIN | -9 | Supportive |
| Home Depot Inc. HD | -10 | Supportive |
| Sherwin-Williams SHW | -10 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| Salesforce Inc. CRM | -11 | Supportive |
| Netflix Inc. NFLX | -12 | Supportive |
| Air Products & Chemicals APD | -13 | Supportive |
| Exxon Mobil Corp. XOM | -14 | Supportive |
| Palo Alto Networks PANW | -14 | Supportive |
| Apple Inc. AAPL | -15 | Supportive |
| ConocoPhillips COP | -15 | Supportive |
| Zscaler Inc. ZS | -15 | Supportive |
| Occidental Petroleum OXY | -15 | Supportive |
| Devon Energy DVN | -16 | Supportive |
| Kinder Morgan KMI | -16 | Supportive |
| Cisco Systems Inc. CSCO | -16 | Supportive |
| Microsoft Corp. MSFT | -16 | Supportive |
| Tesla Inc. TSLA | -17 | Supportive |
| Walt Disney Co. DIS | -17 | Supportive |
| ON Semiconductor Corp. ON | -18 | Supportive |
| Oracle Corp. ORCL | -18 | Supportive |
| CrowdStrike Holdings CRWD | -18 | Supportive |
| Mosaic Co. MOS | -18 | Supportive |
| RTX Corp. RTX | -19 | Supportive |
| Advanced Micro Devices AMD | -19 | Supportive |
| Freeport-McMoRan FCX | -20 | Supportive |
| Dollar General Corp. DG | -20 | Supportive |
| Chevron Corp. CVX | -22 | Supportive |
| T-Mobile US Inc. TMUS | -23 | Supportive |
| Lowe's Cos. LOW | -24 | Supportive |
| Texas Instruments TXN | -24 | Supportive |
| Honeywell International HON | -24 | Supportive |
| Qualcomm Inc. QCOM | -25 | Supportive |
| Intel Corp. INTC | -31 | Supportive |
| Verizon Communications VZ | -31 | Supportive |
| ServiceNow Inc. NOW | -33 | Supportive |
| Broadcom Inc. AVGO | -35 | Supportive |
| Newmont Corp. NEM | — | Supportive |
| Nucor Corp. NUE | — | Supportive |
| 3M Co. MMM | — | Supportive |
| Union Pacific Corp. UNP | — | Supportive |
| CSX Corp. CSX | — | Supportive |
| MercadoLibre Inc. MELI | — | Supportive |
| Snowflake Inc. SNOW | — | Supportive |
| Cloudflare Inc. NET | — | Supportive |
| Okta Inc. OKTA | — | Supportive |
| Workday Inc. WDAY | — | Supportive |
| Autodesk Inc. ADSK | — | Supportive |
| Marvell Technology MRVL | — | Supportive |
| Microchip Technology MCHP | — | Supportive |
| Applied Materials Inc. AMAT | — | Supportive |
| Spotify Technology SPOT | — | Supportive |
| Roku Inc. ROKU | — | Supportive |
| Ulta Beauty Inc. ULTA | — | Supportive |
| Yum Brands Inc. YUM | — | Supportive |
| Chipotle Mexican Grill CMG | — | Supportive |
| Royal Caribbean Group RCL | — | Supportive |
| Albemarle Corp. ALB | — | Supportive |
| Dow Inc. DOW | — | Supportive |
| Norfolk Southern NSC | — | Supportive |
| Eaton Corp. ETN | — | Supportive |