Lam Research

Information Technology Semiconductor Materials & Equipment Fremont, California Last filing Aug 7, 2026 · FY2026

                    Revenue
                    FY2026
                
$23.2B
                    3y CAGR +10.1%
                    
                    P47
                    
                    +26.0%
                    
                    Net income
                    FY2026
                
$7.3B
                    Net margin +31.3%
                    
                    P73
                    
                    +35.6%
                    
                    Total assets
                    FY2026
                
$23.5B
                    ROA +30.9%
                    
                    P87
                    
                    +10.2%
                    
                    Operating cash flow
                    FY2026
                
$5.9B
                    FCF margin +21.1%
                    
                    P40
                    
                    -5.1%

18 yrs · FY2009–FY2026 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 5 years

Total assets $23.5B

Total liabilities $11.1B

Shareholders equity $12.5B

Account	2026	2025	2024	2023	2022
Assets
Cash and Cash Equivalents	23.7%	29.9%	31.2%	28.4%	20.5%
Accounts Receivable	22.7%	15.8%	13.4%	15.0%	25.1%
Inventory	18.2%	20.2%	22.5%	25.6%	23.1%
Prepaid Expenses	1.8%	2.1%	1.6%	1.3%	2.0%
Total Current Assets	66.3%	68.0%	68.7%	70.4%	71.4%
Property,Plant and Equipment	12.6%	11.4%	11.5%	9.9%	9.6%
Intangible Assets	8.1%	8.5%	9.4%	0.9%	0.6%
Other Noncurrent Assets	13.0%	12.1%	10.4%	10.1%	8.1%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	5.5%	4.0%	3.3%	2.5%	5.9%
Accrued Liabilities	10.0%	11.2%	9.6%	10.7%	11.5%
Deferred Revenue	9.7%	12.0%	7.6%	9.0%	9.1%
Current Portion of Long Term Debt	0.0%	3.5%	2.7%	0.0%	0.0%
Total Current Liabilities	25.2%	30.8%	23.1%	22.3%	26.5%
Long Term Debt	15.9%	17.5%	23.9%	26.6%	29.1%
Other Noncurrent Liabilities	5.9%	5.6%	7.4%	7.4%	7.9%
Total Liabilities	47.0%	53.8%	54.4%	56.3%	63.5%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	39.3%	40.7%	43.9%	41.6%	43.1%
Retained Earnings	148.5%	135.8%	132.4%	117.3%	107.3%
Treasury Stock	134.3%	130.1%	130.0%	114.6%	113.3%
Accumulated Other Comprehensive Income	-0.5%	-0.3%	-0.7%	-0.5%	-0.6%
Total Stockholders Equity	53.0%	46.2%	45.6%	43.7%	36.5%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $23.2B

Operating income $8.2B

Net income $7.3B

Account	2026	2025	2024	2023	2022
IncomeStatement
Revenues Total Revenue	98.7%	86.4%	79.5%	92.8%	100.2%
Expenses Cost of Revenue	48.9%	44.3%	41.9%	51.4%	54.4%
Other Income Expense Gross Profit	49.8%	42.1%	37.6%	41.4%	45.8%
Expenses Research and Development	10.1%	9.8%	10.1%	9.2%	9.3%
Expenses Selling,General and Administrative	4.9%	4.6%	4.6%	4.4%	5.2%
Expenses Other Operating Expenses	0.0%	0.0%	0.1%	0.2%	0.0%
Expenses Operating Expenses	15.0%	14.4%	14.9%	13.9%	14.5%
Other Income Expense Operating Income	34.8%	27.6%	22.7%	27.6%	31.3%
Other Income Expense Other Income/expense	0.3%	0.3%	0.5%	-0.3%	-1.1%
Other Income Expense Income Before Tax	35.1%	27.9%	23.3%	27.2%	30.2%
Income Tax Income Tax Expense	4.2%	2.8%	2.8%	3.2%	3.4%
net Income net Income	30.9%	25.1%	20.4%	24.0%	26.8%
net Income Comprehensive Income	30.6%	25.4%	20.3%	24.1%	26.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	5.4%	6.0%	7.0%	7.2%	0.8%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 5 years

Operating cash flow $5.9B

Investing cash flow $-922.2M

Financing cash flow $-5.7B

Account	2026	2025	2024	2023	2022
CashFlow
Operating Activities net Income	30.9%	25.1%	20.4%	24.0%	26.8%
Operating Activities Depreciation and Amortization	1.9%	1.8%	1.9%	1.8%	1.9%
Operating Activities Stock Based Compensation	1.6%	1.6%	1.6%	1.5%	1.5%
Operating Activities Deferred Income Taxes	-1.2%	-1.7%	-1.1%	-0.9%	-1.5%
Operating Activities Changes In Operating Assets and Liabilities	-8.1%	2.1%	1.9%	0.8%	-10.4%
Operating Activities Other Non Cash Items	-0.1%	0.0%	0.1%	0.3%	-0.3%
Operating Activities net Cash From Operating Activities	24.9%	28.9%	24.8%	27.6%	18.0%
Investing Activities Capital Expenditures	-4.1%	-3.6%	-2.1%	-2.7%	-3.2%
Investing Activities Proceeds From Sale of Investments	0.0%	0.0%	0.2%	0.5%	10.1%
Investing Activities Other Investing Activities	0.2%	0.2%	-0.1%	-0.1%	-0.0%
Investing Activities net Cash From Investing Activities	-3.9%	-3.3%	-2.0%	-2.8%	3.6%
Financing Activities Repayment of Debt	-3.2%	-2.4%	-1.4%	-0.1%	-0.1%
Financing Activities Repurchase of Common Stock	-16.4%	-16.0%	-15.2%	-10.7%	-22.5%
Financing Activities Dividends Paid	-5.4%	-5.4%	-5.4%	-4.8%	-4.7%
Financing Activities Proceeds From Stock Issuance	0.7%	0.7%	0.7%	0.6%	0.7%
Financing Activities Other Financing Activities	-0.1%	0.0%	-0.1%	-0.0%	0.0%
Financing Activities net Cash From Financing Activities	-24.3%	-23.1%	-21.3%	-15.1%	-26.6%
Cash Reconciliation Effect of Exchange Rate On Cash	-0.1%	0.1%	-0.1%	0.0%	-0.2%
Cash Reconciliation net Change In Cash	-3.4%	2.6%	1.4%	9.7%	-5.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2026	2025	2024	2023	2022
Profitability
Gross margin	+50.5%	+48.7%	+47.3%	+44.6%	+45.7%
Operating margin	+35.3%	+32.0%	+28.6%	+29.7%	+31.2%
Net margin	+31.3%	+29.1%	+25.7%	+25.9%	+26.7%
FCF margin	+21.1%	+29.4%	+28.6%	+26.8%	+14.8%
Growth
Revenue CAGR (3y)	+10.1%	+2.3%	+0.6%	+20.2%	+21.3%
Returns
ROE	+58.3%	+54.3%	+44.8%	+54.9%	+73.4%
ROA	+30.9%	+25.1%	+20.4%	+24.0%	+26.8%
ROIC	+67.9%	+66.7%	+48.8%	+57.9%	+61.5%
Liquidity
Current ratio	2.63x	2.21x	2.97x	3.16x	2.69x
Quick ratio	1.84x	1.49x	1.93x	1.95x	1.72x
Leverage
D/E	0.89x	1.16x	1.20x	1.29x	1.74x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.99x	0.86x	0.80x	0.93x	1.00x
Cash conversion cycle	+178d	+200d	+229d	+223d	+207d

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