LRCX Financials Lam Research

15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated 42 d ago Overview →

Growth & profitability

Revenue has grown 9.7% per year over the past 5 years.
Net income has grown faster than revenue (13.2% vs 9.7% per year).
Operating margin has expanded, at 35.3% in the latest year.
Free cash flow has grown 8.6% per year over the past 5 years.

Financial health

The company holds more cash ($5.6B) than total debt ($3.7B).
Total debt has grown slower than revenue (-5.6% vs 9.7% per year).
Operating income covered interest expense 52× in the latest year.
Total debt is 0.4× EBITDA.

Shareholder returns

Dividends have been paid for 12 consecutive years, consuming 17.5% of earnings and 26.0% 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

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
2026	$23.2B	$7.3B	50.5%	35.3%	58.3%	30.9%	$4.9B	$3.7B	$5.6B
2025	$18.4B	$5.4B	48.7%	32.0%	54.3%	25.1%	$5.4B	$4.5B	$6.4B
2024	$14.9B	$3.8B	47.3%	28.6%	44.8%	20.4%	$4.3B	$5.0B	$5.8B
2023	$17.4B	$4.5B	44.6%	29.7%	54.9%	24.0%	$4.7B	$5.0B	$5.3B
2022	$17.2B	$4.6B	45.7%	31.2%	73.4%	26.8%	$2.6B	$5.0B	$3.5B
2021	$14.6B	$3.9B	46.5%	30.6%	64.8%	24.6%	$3.2B	$5.0B	$4.4B
2020	$10.0B	$2.3B	45.9%	26.6%	43.5%	15.5%	$1.9B	$5.8B	$4.9B
2019	$9.7B	$2.2B	45.1%	25.5%	46.9%	18.3%	$2.9B	$4.4B	$3.7B
2018	$11.1B	$2.4B	46.6%	29.0%	36.6%	19.1%	$2.4B	$2.4B	$4.5B
2017	$8.0B	$1.7B	45.0%	23.7%	24.9%	14.0%	$1.9B	$2.7B	$2.4B
2016	—	$914M	—	—	15.5%	7.5%	—	$4.3B	$5.0B
2015	—	$656M	—	—	12.8%	7.0%	—	$2.4B	$1.5B
2014	—	$632M	—	—	12.6%	7.9%	—	$1.3B	$1.5B
2013	—	$114M	—	—	2.5%	1.6%	$559M	$1.3B	$1.2B
2012	—	$169M	—	—	3.3%	2.1%	$392M	$1.3B	$1.6B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

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	ROE	ROA	FCF	Total debt	Cash
Jun '26	$6.7B	$2.3B	51.7%	37.4%	18.3%	9.7%	$1.3B	$3.7B	$5.6B
Mar '26	$5.8B	$1.8B	49.8%	35.0%	17.2%	8.8%	$810M	—	$4.8B
Dec '25	$5.3B	$1.6B	49.6%	33.9%	15.7%	7.5%	$1.2B	—	$6.2B
Sep '25	$5.3B	$1.6B	50.4%	34.4%	15.4%	7.2%	$1.6B	—	$6.7B
Jun '25	$5.2B	$1.7B	50.1%	33.7%	17.4%	8.1%	$2.4B	$4.5B	$6.4B
Mar '25	$4.7B	$1.3B	49.0%	33.1%	14.0%	6.7%	$1.0B	—	$5.5B
Dec '24	$4.4B	$1.2B	47.4%	30.5%	13.5%	6.0%	$554M	—	$5.7B
Sep '24	$4.2B	$1.1B	48.0%	30.3%	13.2%	5.7%	$1.5B	—	$6.1B
Jun '24	$3.9B	$1.0B	47.5%	29.1%	11.9%	5.4%	$762M	$5.0B	$5.8B
Mar '24	$3.8B	$966M	47.5%	27.9%	12.0%	5.3%	$1.3B	—	$5.7B
Dec '23	$3.8B	$954M	46.8%	28.1%	11.6%	5.1%	$1.3B	—	$5.6B
Sep '23	$3.5B	$887M	47.5%	29.4%	11.0%	4.8%	$874M	—	$5.1B
Jun '23	$3.2B	$803M	45.5%	26.6%	9.8%	4.3%	$1.0B	$5.0B	$5.3B
Mar '23	$3.9B	$814M	41.5%	24.4%	9.7%	4.2%	$1.6B	—	$5.3B
Dec '22	$5.3B	$1.5B	45.0%	31.8%	17.7%	7.6%	$977M	—	$4.5B
Sep '22	$5.1B	$1.4B	46.1%	33.5%	19.2%	7.6%	$1.0B	—	$4.3B
Jun '22	$4.6B	$1.2B	45.3%	31.9%	19.3%	7.0%	$318M	$5.0B	$3.5B
Mar '22	$4.1B	$1.0B	44.7%	29.4%	17.0%	6.2%	$612M	$5.0B	$4.2B
Dec '21	$4.2B	$1.2B	46.8%	31.7%	18.5%	7.2%	$1.3B	$5.0B	$5.1B
Sep '21	$4.3B	$1.2B	45.9%	31.9%	20.3%	7.6%	$321M	$5.0B	$4.0B

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 50.4× (Sep '26).
The price-to-sales ratio has fallen from 38.5× (Mar '23) to 15.8× (Sep '26).
The dividend yield has risen from 0.1% (Mar '23) to 0.3% (Sep '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 9.7% per year, and net income grown 13.2% per year. These are computed facts, not advice.

How much debt does LRCX have?

As of FY2026, Lam Research reported $3.7B of total debt against $5.6B of cash; operating income covered interest expense 52×.

What is LRCX's profit margin?

In FY2026, gross margin was 50.5%, operating margin 35.3%, and net margin 31.3%.

What is LRCX's P/E ratio?

As of Sep '26, Lam Research traded at a price-to-earnings ratio of about 50.4× (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.