LRCX Financials Lam Research

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 29 h ago Overview →

Growth & profitability

Revenue has grown 12.9% per year over the past 5 years.
Net income has grown faster than revenue (18.9% vs 12.9% per year).
Operating margin has expanded, at 32.0% in the latest year.
Free cash flow has grown 23.0% per year over the past 5 years.

Financial health

The company holds more cash ($6.4B) than total debt ($4.5B).
Total debt has grown slower than revenue (-5.1% vs 12.9% per year).
Operating income covered interest expense 33× in the latest year.
Total debt is 0.7× EBITDA.

Shareholder returns

Dividends have been paid for 11 consecutive years, consuming 21.5% of earnings and 21.2% of free cash flow.
The dividend has grown 11.8% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$18.4B	$5.4B	48.7%	32.0%	$5.4B	$4.5B	$6.4B
2024	$14.9B	$3.8B	47.3%	28.6%	$4.3B	$5.0B	$5.8B
2023	$17.4B	$4.5B	44.6%	29.7%	$4.7B	$5.0B	$5.3B
2022	$17.2B	$4.6B	45.7%	31.2%	$2.6B	$5.0B	$3.5B
2021	$14.6B	$3.9B	46.5%	30.6%	$3.2B	$5.0B	$4.4B
2020	$10.0B	$2.3B	45.9%	26.6%	$1.9B	$5.8B	$4.9B
2019	$9.7B	$2.2B	45.1%	25.5%	$2.9B	$4.4B	$3.7B
2018	$11.1B	$2.4B	46.6%	29.0%	$2.4B	$2.4B	$4.5B
2017	$8.0B	$1.7B	45.0%	23.7%	$1.9B	$2.7B	$2.4B
2016	—	$914M	—	—	—	$4.3B	$5.0B
2015	—	$656M	—	—	—	$2.4B	$1.5B
2014	—	$632M	—	—	—	$1.3B	$1.5B
2013	—	$114M	—	—	$559M	$1.3B	$1.2B
2012	—	$169M	—	—	$392M	$1.3B	$1.6B
2011	—	$724M	—	—	$754M	$726M	$1.5B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Mar '26	$5.8B	$1.8B	49.8%	35.0%	$810M	—	$4.8B
Dec '25	$5.3B	$1.6B	49.6%	33.9%	$1.2B	—	$6.2B
Sep '25	$5.3B	$1.6B	50.4%	34.4%	$1.6B	—	$6.7B
Jun '25	$5.2B	$1.7B	50.1%	33.7%	$2.4B	$4.5B	$6.4B
Mar '25	$4.7B	$1.3B	49.0%	33.1%	$1.0B	—	$5.5B
Dec '24	$4.4B	$1.2B	47.4%	30.5%	$554M	—	$5.7B
Sep '24	$4.2B	$1.1B	48.0%	30.3%	$1.5B	—	$6.1B
Jun '24	$3.9B	$1.0B	47.5%	29.1%	$762M	$5.0B	$5.8B
Mar '24	$3.8B	$966M	47.5%	27.9%	$1.3B	—	$5.7B
Dec '23	$3.8B	$954M	46.8%	28.1%	$1.3B	—	$5.6B
Sep '23	$3.5B	$887M	47.5%	29.4%	$874M	—	$5.1B
Jun '23	$3.2B	$803M	45.5%	26.6%	$1.0B	$5.0B	$5.3B
Mar '23	$3.9B	$814M	41.5%	24.4%	$1.6B	—	$5.3B
Dec '22	$5.3B	$1.5B	45.0%	31.8%	$977M	—	$4.5B
Sep '22	$5.1B	$1.4B	46.1%	33.5%	$1.0B	—	$4.3B
Jun '22	$4.6B	$1.2B	45.3%	31.9%	$318M	$5.0B	$3.5B
Mar '22	$4.1B	$1.0B	44.7%	29.4%	$612M	$5.0B	$4.2B
Dec '21	$4.2B	$1.2B	46.8%	31.7%	$1.3B	$5.0B	$5.1B
Sep '21	$4.3B	$1.2B	45.9%	31.9%	$321M	$5.0B	$4.0B
Jun '21	$4.1B	$1.1B	46.2%	31.7%	$1.3B	$5.0B	$4.4B

Valuation over time

How the market has priced LRCX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 144.0× (Mar '23) to 93.7× (Jun '26).
The price-to-sales ratio has fallen from 38.5× (Mar '23) to 27.2× (Jun '26).
The dividend yield has risen from 0.1% (Mar '23) to 0.2% (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is LRCX growing its revenue and profit?

Over the past 5 years, Lam Research's revenue has grown 12.9% per year, and net income grown 18.9% per year. These are computed facts, not advice.

How much debt does LRCX have?

As of FY2025, Lam Research reported $4.5B of total debt against $6.4B of cash; operating income covered interest expense 33×.

What is LRCX's profit margin?

In FY2025, gross margin was 48.7%, operating margin 32.0%, and net margin 29.1%.

What is LRCX's P/E ratio?

As of Jun '26, Lam Research traded at a price-to-earnings ratio of about 93.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.