Reading the annual reports…
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
First time this company is opened: we are analysing its official reports. This can take up to a minute; after that the page loads instantly.
LRCX · Nasdaq · United States · Special Industry Machinery, Nec
In shortLAM RESEARCH CORP is profitable, generates cash and holds more cash than debt, with revenue growing (+26.0% last year).
Financial health
Strong
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 35.3% | 100/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 31.3% | 100/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 65.1% | 100/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 44.5% | 100/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.63× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.30× | 95/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 52.27× | 100/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 11.07 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 21.1% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 0.67× | 47/100 |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 5 of 5 | 100/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 17.2% | 48/100 |
| Operating margin volatility | 2.6% | 86/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 10.1% | 73/100 |
|---|---|---|
| EPS growth, 3-year average | 20.2% | 100/100 |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 17,227 | 17,429 | 14,905 | 18,436 | 23,233 |
| Cost of revenue | 9,355 | 9,652 | 7,853 | 9,457 | 11,507 |
| Gross profit | 7,872 | 7,777 | 7,053 | 8,979 | 11,725 |
| Research & development | 1,604 | 1,727 | 1,902 | 2,096 | 2,376 |
| Selling, general & admin | 886 | 833 | 868 | 982 | 1,150 |
| Operating income | 5,382 | 5,175 | 4,264 | 5,901 | 8,200 |
| Interest expense | 185 | 186 | 185 | 178 | 157 |
| Pre-tax income | 5,193 | 5,109 | 4,360 | 5,958 | 8,262 |
| Income tax | 588 | 598 | 532 | 600 | 997 |
| Net income | 4,605 | 4,511 | 3,828 | 5,358 | 7,265 |
| Diluted EPS | $32.75 | $3.32 | $2.90 | $4.15 | $5.76 |
| Diluted shares (millions) | 141 | 1,358 | 1,320 | 1,290 | 1,261 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of LAM RESEARCH CORP are included in the Investor plan. Try free for 7 days →
11.07 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
8/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Sep 27, 2026 · Data updated Oct 22, 2026