LRCXLam Research

Technology · Industrial Machinery · Nasdaq

Incorporated in 1980, Lam Research Corporation (“Lam Research,” “Lam,” “we,” “our,” “us,” or the “Company”) is a Delaware corporation, headquartered in Fremont, California. 10-K, Item 1

Headquarters: Fremont, CA
CEO: Timothy Archer
Next results: around Jan 27, 2027

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LRCX and 9 peers, year by year

The 9 Technology companies closest to LRCX in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
LRCX Lam Research	FY2026	$23.2B	+26.0%	50.5%	35.3%	31.3%	21.1%	58.3%	0.30
ADBE Adobe Inc.	FY2025	$23.8B	+10.5%	89.3%	36.6%	30.0%	41.4%	61.3%	0.53
CDW CDW Corporation	FY2025	$22.4B	+6.8%	21.7%	7.4%	4.8%	4.9%	40.9%	2.16
SNDK Sandisk	FY2026	$20.2B	+175%	71.5%	61.2%	56.5%	56.8%	72.7%	0.00
CTSH Cognizant	FY2025	$21.1B	+7.0%	-	16.1%	10.6%	12.3%	14.9%	0.04
INTU Intuit	FY2026	$21.4B	+13.9%	-	27.4%	21.3%	40.4%	24.0%	0.40
AMAT Applied Materials	FY2025	$28.4B	+4.4%	48.7%	29.2%	24.7%	20.1%	34.3%	0.32
FLEX Flex Ltd.	FY2026	$27.9B	+8.1%	9.2%	4.9%	3.2%	3.8%	17.1%	0.73
TXN Texas Instruments	FY2025	$17.7B	+13.0%	57.0%	34.1%	28.3%	14.7%	30.7%	0.86
TEL TE Connectivity	FY2026	$19.9B	+15.2%	36.2%	20.1%	16.4%	17.1%	24.0%	0.42

Revenuepeer median $21.4B

Sales growthpeer median +10.5%

Gross marginpeer median 48.7%

Operating marginpeer median 27.4%

Net marginpeer median 21.3%

FCF marginpeer median 17.1%

Return on equitypeer median 30.7%

Debt / equitypeer median 0.42

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2017 to FY2026

Revenue as reported in the 10-K.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	$8.0B	$11.1B	$9.7B	$10.0B	$14.6B	$17.2B	$17.4B	$14.9B	$18.4B	$23.2B
ADBE Nov	$7.3B	$9.0B	$11.2B	$12.9B	$15.8B	$17.6B	$19.4B	$21.5B	$23.8B	-
CDW Dec	$15.2B	$16.2B	$18.0B	$18.5B	$20.8B	$23.7B	$21.4B	$21.0B	$22.4B	-
SNDK Jul	-	-	-	-	-	-	$6.1B	$6.7B	$7.4B	$20.2B
CTSH Dec	$14.8B	$16.1B	$16.8B	$16.7B	$18.5B	$19.4B	$19.4B	$19.7B	$21.1B	-
INTU Jul	$5.2B	$6.0B	$6.8B	$7.7B	$9.6B	$12.7B	$14.4B	$16.3B	$18.8B	$21.4B
AMAT Oct	$14.7B	$16.7B	$14.6B	$17.2B	$23.1B	$25.8B	$26.5B	$27.2B	$28.4B	-
FLEX Mar	$23.9B	$25.4B	$26.2B	$24.2B	$24.1B	$24.6B	$28.5B	$26.4B	$25.8B	$27.9B
TXN Dec	$15.0B	$15.8B	$14.4B	$14.5B	$18.3B	$20.0B	$17.5B	$15.6B	$17.7B	-
TEL Sep	$12.2B	$14.0B	$13.4B	$12.2B	$14.9B	$16.3B	$16.0B	$15.8B	$17.3B	$19.9B
Peer median	$14.8B	$16.0B	$14.5B	$15.6B	$18.4B	$19.7B	$19.4B	$19.7B	$21.1B	$20.8B

Sales growth, FY2017 to FY2026

Revenue against the fiscal year before.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	+36.1%	+38.2%	−12.9%	+4.1%	+45.6%	+17.8%	+1.2%	−14.5%	+23.7%	+26.0%
ADBE Nov	+24.7%	+23.7%	+23.7%	+15.2%	+22.7%	+11.5%	+10.2%	+10.8%	+10.5%	-
CDW Dec	+8.5%	+9.5%	+11.0%	+2.4%	+12.7%	+14.1%	−10.0%	−1.8%	+6.8%	-
SNDK Jul	-	-	-	-	-	-	-	+9.5%	+10.4%	+175%
CTSH Dec	+9.8%	+8.9%	+4.1%	−0.8%	+11.1%	+5.0%	−0.4%	+2.0%	+7.0%	-
INTU Jul	+10.3%	+16.0%	+12.6%	+13.2%	+25.4%	+32.1%	+12.9%	+13.3%	+15.6%	+13.9%
AMAT Oct	+34.3%	+13.7%	−12.6%	+17.8%	+34.1%	+11.8%	+2.8%	+2.5%	+4.4%	-
FLEX Mar	−2.3%	+6.6%	+3.0%	−7.6%	−0.4%	+7.9%	+15.7%	−7.3%	−2.3%	+8.1%
TXN Dec	+11.9%	+5.5%	−8.9%	+0.5%	+26.9%	+9.2%	−12.5%	−10.7%	+13.0%	-
TEL Sep	+7.3%	+14.8%	−3.9%	−9.5%	+22.6%	+9.1%	−1.5%	−1.2%	+8.9%	+15.2%
Peer median	+10.0%	+11.6%	+3.6%	+1.5%	+22.6%	+10.4%	+1.2%	+2.0%	+8.9%	+14.5%

Gross margin, FY2017 to FY2026

Gross profit / revenue.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	45.0%	46.6%	45.1%	45.9%	46.5%	45.7%	44.6%	47.3%	48.7%	50.5%
ADBE Nov	86.2%	86.8%	85.0%	86.6%	88.2%	87.7%	87.9%	89.0%	89.3%	-
CDW Dec	16.1%	16.7%	16.9%	17.4%	17.1%	19.7%	21.8%	21.9%	21.7%	-
SNDK Jul	-	-	-	-	-	-	7.1%	16.1%	30.1%	71.5%
CTSH Dec	-	-	-	-	-	-	-	-	-	-
INTU Jul	-	-	-	-	-	-	-	-	-	-
AMAT Oct	45.0%	45.0%	43.7%	44.7%	47.3%	46.5%	46.7%	47.5%	48.7%	-
FLEX Mar	6.4%	6.3%	5.8%	5.5%	7.0%	7.2%	6.9%	7.1%	8.4%	9.2%
TXN Dec	64.3%	65.1%	63.7%	64.1%	67.5%	68.8%	62.9%	58.1%	57.0%	-
TEL Sep	34.3%	33.9%	32.7%	30.7%	32.7%	32.2%	31.5%	34.4%	35.2%	36.2%
Peer median	39.7%	39.5%	38.2%	37.7%	40.0%	39.4%	31.5%	34.4%	35.2%	36.2%

Operating margin, FY2017 to FY2026

Operating income / revenue.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	23.7%	29.0%	25.5%	26.6%	30.6%	31.2%	29.7%	28.6%	32.0%	35.3%
ADBE Nov	29.7%	31.5%	29.3%	32.9%	36.8%	34.6%	34.3%	31.3%	36.6%	-
CDW Dec	5.7%	6.1%	6.3%	6.4%	6.8%	7.3%	7.9%	7.9%	7.4%	-
SNDK Jul	-	-	-	-	-	-	−33.4%	−7.0%	−18.7%	61.2%
CTSH Dec	16.8%	17.4%	14.6%	12.7%	15.3%	15.3%	13.9%	14.7%	16.1%	-
INTU Jul	27.3%	25.9%	27.3%	28.3%	26.0%	20.2%	21.9%	22.3%	26.1%	27.4%
AMAT Oct	26.8%	26.9%	22.9%	25.4%	29.9%	30.2%	28.9%	28.9%	29.2%	-
FLEX Mar	-	-	-	1.7%	3.3%	3.6%	3.6%	3.2%	4.5%	4.9%
TXN Dec	40.7%	42.5%	39.8%	40.8%	48.8%	50.6%	41.8%	34.9%	34.1%	-
TEL Sep	15.4%	16.7%	14.7%	4.4%	16.3%	16.9%	14.4%	17.6%	18.6%	20.1%
Peer median	26.8%	25.9%	22.9%	19.0%	21.1%	18.6%	14.4%	17.6%	18.6%	23.8%

Net margin, FY2017 to FY2026

Net income / revenue.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	21.2%	21.5%	22.7%	22.4%	26.7%	26.7%	25.9%	25.7%	29.1%	31.3%
ADBE Nov	23.2%	28.7%	26.4%	40.9%	30.5%	27.0%	28.0%	25.9%	30.0%	-
CDW Dec	3.4%	4.0%	4.1%	4.3%	4.7%	4.7%	5.2%	5.1%	4.8%	-
SNDK Jul	-	-	-	-	-	-	−35.2%	−10.1%	−22.3%	56.5%
CTSH Dec	10.2%	13.0%	11.0%	8.4%	11.5%	11.8%	11.0%	11.3%	10.6%	-
INTU Jul	19.0%	22.1%	23.0%	23.8%	21.4%	16.2%	16.6%	18.2%	20.5%	21.3%
AMAT Oct	23.9%	18.2%	18.5%	21.0%	25.5%	25.3%	25.9%	26.4%	24.7%	-
FLEX Mar	1.3%	1.7%	0.4%	0.4%	2.5%	3.8%	2.8%	3.8%	3.2%	3.2%
TXN Dec	24.6%	35.4%	34.9%	38.7%	42.4%	43.7%	37.2%	30.7%	28.3%	-
TEL Sep	13.8%	18.3%	13.7%	−2.0%	15.2%	14.9%	11.9%	20.2%	10.7%	16.4%
Peer median	16.4%	18.3%	16.1%	14.7%	18.3%	15.6%	11.9%	18.2%	10.7%	18.8%

Free cash flow, FY2017 to FY2026

Cash from operations minus capital spending.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	$1.9B	$2.4B	$2.9B	$1.9B	$3.2B	$2.6B	$4.7B	$4.3B	$5.4B	$4.9B
ADBE Nov	$2.7B	$3.8B	$4.0B	$5.3B	$6.9B	$7.4B	$6.9B	$7.9B	$9.9B	-
CDW Dec	$696.6M	$819.8M	$790.9M	$1.2B	$684.6M	$1.2B	$1.5B	$1.2B	$1.1B	-
SNDK Jul	-	-	-	-	-	-	−$932.0M	−$475.0M	−$120.0M	$11.5B
CTSH Dec	$2.1B	$2.2B	$2.1B	$2.9B	$2.2B	$2.2B	$2.0B	$1.8B	$2.6B	-
INTU Jul	$1.5B	$2.1B	$2.2B	$2.4B	$3.2B	$3.7B	$4.8B	$4.7B	$6.1B	$8.7B
AMAT Oct	$3.4B	$3.2B	$2.8B	$3.4B	$4.8B	$4.6B	$7.6B	$7.5B	$5.7B	-
FLEX Mar	−$4.3B	−$4.4B	−$3.7B	−$2.0B	−$207.0M	$581.0M	$315.0M	$796.0M	$1.1B	$1.1B
TXN Dec	$4.7B	$6.1B	$5.8B	$5.5B	$6.3B	$5.9B	$1.3B	$1.5B	$2.6B	-
TEL Sep	$1.6B	$1.5B	$1.7B	$1.4B	$2.0B	$1.7B	$2.4B	$2.8B	$3.2B	$3.4B
Peer median	$1.9B	$2.1B	$2.2B	$2.6B	$2.7B	$3.0B	$2.0B	$1.8B	$2.6B	$6.0B

FCF margin, FY2017 to FY2026

Free cash flow / revenue.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	23.4%	21.5%	29.8%	19.1%	22.1%	14.8%	26.8%	28.6%	29.4%	21.1%
ADBE Nov	37.5%	41.7%	36.0%	41.2%	43.6%	42.0%	35.8%	36.6%	41.4%	-
CDW Dec	4.6%	5.0%	4.4%	6.3%	3.3%	5.1%	6.8%	5.5%	4.9%	-
SNDK Jul	-	-	-	-	-	-	−15.3%	−7.1%	−1.6%	56.8%
CTSH Dec	14.3%	13.7%	12.6%	17.4%	12.0%	11.5%	10.4%	9.3%	12.3%	-
INTU Jul	28.8%	34.4%	33.1%	30.7%	33.2%	29.3%	33.7%	28.8%	32.5%	40.4%
AMAT Oct	23.4%	18.9%	19.2%	19.7%	20.7%	17.9%	28.6%	27.6%	20.1%	-
FLEX Mar	−18.2%	−17.4%	−14.1%	−8.2%	−0.9%	2.4%	1.1%	3.0%	4.1%	3.8%
TXN Dec	31.2%	38.4%	40.3%	38.0%	34.3%	29.6%	7.7%	9.6%	14.7%	-
TEL Sep	13.5%	10.8%	12.4%	11.8%	13.3%	10.4%	15.0%	17.7%	18.6%	17.1%
Peer median	18.9%	16.3%	15.9%	18.5%	17.0%	14.7%	10.4%	9.6%	14.7%	28.8%

Return on equity, FY2017 to FY2026

Net income / shareholders' equity at the year end.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	24.9%	36.6%	46.9%	43.5%	64.8%	73.4%	54.9%	44.8%	54.3%	58.3%
ADBE Nov	20.0%	27.7%	28.0%	39.7%	32.6%	33.8%	32.9%	39.4%	61.3%	-
CDW Dec	53.1%	65.9%	76.7%	60.8%	140.1%	69.5%	54.1%	45.8%	40.9%	-
SNDK Jul	-	-	-	-	-	-	−18.7%	−6.1%	−17.8%	72.7%
CTSH Dec	14.1%	18.4%	16.7%	12.8%	17.8%	18.6%	16.1%	15.5%	14.9%	-
INTU Jul	58.0%	47.2%	41.5%	35.8%	20.9%	12.6%	13.8%	16.1%	19.6%	24.0%
AMAT Oct	36.5%	44.4%	32.9%	34.2%	48.1%	53.5%	41.9%	37.8%	34.3%	-
FLEX Mar	12.1%	14.2%	3.1%	3.1%	17.8%	22.7%	14.8%	18.9%	16.8%	17.1%
TXN Dec	35.6%	62.0%	56.3%	60.9%	58.3%	60.0%	38.5%	28.4%	30.7%	-
TEL Sep	17.3%	23.7%	17.4%	−2.6%	21.3%	22.5%	16.5%	25.8%	14.6%	24.0%
Peer median	27.8%	36.0%	30.5%	35.0%	26.9%	28.3%	16.5%	25.8%	19.6%	24.0%

Debt / equity, FY2017 to FY2026

Total debt / shareholders' equity at the year end.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	0.39	0.36	0.95	1.12	0.82	0.79	0.60	0.58	0.45	0.30
ADBE Nov	0.22	0.44	0.39	0.31	0.28	0.29	0.22	0.29	0.53	-
CDW Dec	3.28	3.29	3.45	3.03	9.72	3.69	2.76	2.48	2.16	-
SNDK Jul	-	-	-	-	-	-	-	0.00	0.20	0.00
CTSH Dec	0.09	0.07	0.07	0.06	0.06	0.05	0.05	0.06	0.04	-
INTU Jul	0.29	0.16	0.12	0.66	0.21	0.42	0.35	0.33	0.30	0.40
AMAT Oct	0.55	0.78	0.72	0.52	0.45	0.45	0.34	0.37	0.32	-
FLEX Mar	1.12	0.98	1.03	1.01	1.11	1.02	0.69	0.61	0.74	0.73
TXN Dec	0.39	0.56	0.65	0.74	0.58	0.60	0.66	0.80	0.86	-
TEL Sep	0.52	0.46	0.38	0.44	0.34	0.39	0.36	0.34	0.45	0.42
Peer median	0.46	0.51	0.52	0.59	0.39	0.43	0.36	0.34	0.45	0.41

EPS (diluted), FY2017 to FY2026

Diluted earnings per share, on today's share count after splits.

Company	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
LRCX Jun	$0.92	$1.32	$1.37	$1.51	$2.69	$3.27	$3.32	$2.90	$4.15	$5.76
ADBE Nov	$3.38	$5.20	$6.00	$10.83	$10.02	$10.10	$11.82	$12.36	$16.70	-
CDW Dec	$3.31	$4.19	$4.99	$5.45	$7.04	$8.13	$8.10	$7.97	$8.08	-
SNDK Jul	-	-	-	-	-	-	−$14.78	−$4.63	−$11.32	$73.76
CTSH Dec	$2.53	$3.60	$3.29	$2.57	$4.05	$4.41	$4.21	$4.51	$4.56	-
INTU Jul	$3.78	$5.09	$5.89	$6.92	$7.56	$7.28	$8.42	$10.43	$13.67	$16.46
AMAT Oct	$3.25	$2.96	$2.86	$3.92	$6.40	$7.44	$8.11	$8.61	$8.66	-
FLEX Mar	$0.59	$0.80	$0.18	$0.17	$1.21	$1.94	$1.72	$2.28	$2.11	$2.33
TXN Dec	$3.61	$5.59	$5.24	$5.97	$8.26	$9.41	$7.07	$5.20	$5.45	-
TEL Sep	$4.70	$7.27	$5.42	−$0.73	$6.79	$7.47	$6.03	$10.33	$6.16	$11.06
Peer median	$3.34	$4.64	$5.12	$4.69	$6.92	$7.46	$7.07	$7.97	$6.16	$13.76

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out LRCX and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

Work on LRCX in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/LRCX/export.csv") into a cell.