LRCXLam Research
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
The biggest changes in the 10-K filed 2026-08-07, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Net income
+35.6% Big change FY to 2026-06-28 vs 2025-06-29“The increase in the effective tax rate in fiscal year 2026 as compared to fiscal year 2025 was primarily due to the recognition of previously unrecognized tax benefits from lapses of statutes of limitation in fiscal year 2025 and Global Minimum Tax (“GMT”) being fully effective in fiscal year 2026, offset by the change in level and proportion of income in higher and lower tax jurisdictions and higher stock-based compensation excess tax benefits in fiscal year 2026.”
Read it in the 10-K ↗
Operating margin
32.0% → 35.3% (+3.3 pts) Big change FY to 2026-06-28 vs 2025-06-29“The increase in operating expenses in fiscal year 2026 compared to fiscal year 2025 was primarily due to employee-related costs from increased headcount and higher supplies spending for research and development.”
Read it in the 10-K ↗
Revenue
+26.0% Big change FY to 2026-06-28 vs 2025-06-29“Fiscal year 2026 revenue increased 26.0% compared to fiscal year 2025, driven by strong customer demand for semiconductor equipment systems, particularly from customers within the foundry market segment, as well as customer support-related revenues.”
Read it in the 10-K ↗
“Systems revenue increased by $3.39 billion, or 29.5%, in fiscal year 2026 compared to fiscal year 2025 primarily due to foundry equipment customer spending.”
Read it in the 10-K ↗
Gross margin
48.7% → 50.5% (+1.8 pts) Big change FY to 2026-06-28 vs 2025-06-29“Gross margin as a percentage of revenue increased in fiscal year 2026 compared to fiscal year 2025 largely due to favorable customer mix, partially offset by aluminum and steel tariff-related spend.”
Read it in the 10-K ↗
“The increase in gross margin as a percentage of revenue for fiscal year 2026 compared to fiscal year 2025 was largely due to favorable customer mix, partially offset by aluminum and steel tariff-related spend.”
Read it in the 10-K ↗
Cash from operations
-5.1% FY to 2026-06-28 vs 2025-06-29“The decrease of $315.6 million in net cash provided by operating activities during fiscal year 2026 compared to fiscal year 2025 was primarily due to fluctuations in accounts receivable and deferred gross profit, partially offset by an increase in net income.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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.