Lam Research (LRCX) Financials

$68.44 +0.58 (+0.85%)

Closing price 04:00 PM Eastern

Extended Trading

$67.45 -0.99 (-1.45%)

As of 07:59 PM Eastern

Annual Income Statements for Lam Research

This table shows Lam Research's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	656	914	1,698	2,381	2,191	2,252	3,908	4,605	4,511	3,828
Consolidated Net Income / (Loss)	656	914	1,698	2,381	2,191	2,252	3,908	4,605	4,511	3,828
Net Income / (Loss) Continuing Operations	656	914	1,698	2,381	2,191	2,252	3,908	4,605	4,511	3,828
Total Pre-Tax Income	741	960	1,812	3,152	2,447	2,575	4,371	5,193	5,109	4,360
Total Operating Income	788	1,074	1,902	3,213	2,465	2,674	4,482	5,382	5,175	4,264
Total Gross Profit	2,284	2,619	3,603	5,165	4,358	4,609	6,805	7,872	7,777	7,053
Total Revenue	5,259	5,886	8,014	11,077	9,654	10,045	14,626	17,227	17,429	14,905
Operating Revenue	5,259	5,886	8,014	11,077	9,654	10,045	14,626	17,227	17,429	14,905
Total Cost of Revenue	2,975	3,267	4,410	5,912	5,295	5,436	7,821	9,355	9,652	7,853
Operating Cost of Revenue	2,975	3,267	4,410	5,912	5,295	5,436	7,821	9,355	9,652	7,809
Total Operating Expenses	1,496	1,545	1,701	1,952	1,894	1,935	2,323	2,490	2,602	2,789
Selling, General & Admin Expense	592	631	667	762	702	682	830	886	833	868
Research & Development Expense	825	914	1,034	1,190	1,191	1,252	1,493	1,604	1,727	1,902
Total Other Income / (Expense), net	-47	-114	-90	-62	-18	-99	-111	-189	-66	96
Other Income / (Expense), net	-47	-114	-90	-62	-18	-99	-111	-189	-66	96
Income Tax Expense	85	46	114	771	255	323	462	588	598	532
Basic Earnings per Share	$4.11	$5.75	$10.47	$14.73	$14.37	$15.55	$27.22	$32.92	$33.30	$29.13
Weighted Average Basic Shares Outstanding	159.63M	158.92M	162.22M	161.64M	152.48M	144.81M	143.61M	139.90M	135.47M	131.41M
Diluted Earnings per Share	$3.70	$5.22	$9.24	$13.17	$13.70	$15.10	$26.90	$32.75	$33.21	$29.00
Weighted Average Diluted Shares Outstanding	177.07M	175.16M	183.77M	180.78M	159.92M	149.09M	145.32M	140.63M	135.83M	132.00M
Weighted Average Basic & Diluted Shares Outstanding	159.50M	159M	162.20M	161.60M	144.53M	145.63M	141.95M	136.99M	132.51M	129.88M
Cash Dividends to Common per Share	$0.84	$1.20	$1.65	$2.55	$4.40	$4.60	$5.20	$6.00	$6.90	$8.00

This table shows Lam Research's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	1,209	1,426	1,469	814	803	887	954	966	1,020	1,116	1,191
Consolidated Net Income / (Loss)	1,209	1,426	1,469	814	803	887	954	966	1,020	1,116	1,191
Net Income / (Loss) Continuing Operations	1,209	1,426	1,469	814	803	887	954	966	1,020	1,116	1,191
Total Pre-Tax Income	1,359	1,655	1,652	939	864	1,026	1,087	1,093	1,154	1,294	1,348
Total Operating Income	1,479	1,698	1,680	942	855	1,023	1,057	1,057	1,127	1,264	1,334
Total Gross Profit	2,101	2,337	2,376	1,606	1,458	1,655	1,757	1,801	1,840	2,003	2,073
Total Revenue	4,636	5,074	5,278	3,870	3,207	3,482	3,758	3,794	3,872	4,168	4,376
Operating Revenue	4,636	5,074	5,278	3,870	3,207	3,482	3,758	3,794	3,872	4,168	4,376
Total Cost of Revenue	2,535	2,737	2,901	2,264	1,749	1,827	2,001	1,993	2,031	2,165	2,303
Operating Cost of Revenue	2,535	2,737	2,901	2,264	1,749	1,819	1,986	1,993	2,011	2,165	2,303
Total Operating Expenses	621	639	696	663	604	632	700	743	714	738	739
Selling, General & Admin Expense	210	206	234	194	200	207	229	216	216	243	244
Research & Development Expense	411	433	462	429	402	423	470	512	498	495	495
Total Other Income / (Expense), net	-120	-43	-28	-3.33	9.01	2.60	30	36	28	30	14
Other Income / (Expense), net	-120	-43	-28	-3.33	9.01	2.60	30	36	28	30	14
Income Tax Expense	150	229	183	125	61	138	133	127	134	178	157
Basic Earnings per Share	$8.76	$10.42	$10.80	$6.03	$6.05	$0.67	$0.72	$7.38	$7.81	$0.86	$0.93
Weighted Average Basic Shares Outstanding	139.90M	136.89M	136.02M	134.92M	135.47M	1.33B	1.32B	130.84M	131.41M	1.30B	1.29B
Diluted Earnings per Share	$8.74	$10.39	$10.77	$6.01	$6.04	$0.67	$0.72	$7.34	$7.78	$0.86	$0.92
Weighted Average Diluted Shares Outstanding	140.63M	137.21M	136.34M	135.40M	135.83M	1.33B	1.32B	131.52M	132.00M	1.30B	1.29B
Weighted Average Basic & Diluted Shares Outstanding	136.99M	136.38M	134.94M	134.34M	132.51M	131.79M	131.10M	130.74M	129.88M	1.29B	1.28B
Cash Dividends to Common per Share	-	$1.73	$1.73	$1.73	-	-	-	$2.00	-	$0.23	$0.23

This table details how cash moves in and out of Lam Research's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	831	3,811	-2,656	2,135	-855	1,256	-498	-897	1,814	263
Net Cash From Operating Activities	666	1,295	2,029	2,656	3,176	2,126	3,588	3,100	5,179	4,652
Net Cash From Continuing Operating Activities	666	1,295	2,029	2,656	3,176	2,126	3,588	3,100	5,179	4,652
Net Income / (Loss) Continuing Operations	656	914	1,698	2,381	2,191	2,252	3,908	4,605	4,511	3,828
Consolidated Net Income / (Loss)	656	914	1,698	2,381	2,191	2,252	3,908	4,605	4,511	3,828
Depreciation Expense	278	291	307	326	309	269	307	334	342	360
Non-Cash Adjustments To Reconcile Net Income	148	191	166	248	189	196	203	214	339	303
Changes in Operating Assets and Liabilities, net	-415	-101	-167	-314	487	-590	-830	-2,054	-13	161
Net Cash From Investing Activities	-194	469	-2,053	2,749	-1,637	-244	73	612	-535	-371
Net Cash From Continuing Investing Activities	-194	469	-2,053	2,749	-1,637	-244	73	612	-535	-371
Purchase of Property, Plant & Equipment	-198	-175	-157	-273	-303	-203	-349	-546	-502	-397
Acquisitions	-	-	0.00	-116	-	-	0.00	0.00	-120	0.00
Purchase of Investments	-	-	-4,582	-2,533	-2,930	-2,898	-3,389	-568	0.00	0.00
Sale and/or Maturity of Investments	-	643	2,698	5,686	1,604	2,883	3,854	1,734	98	38
Other Investing Activities, net	3.98	1.64	-13	-15	-7.36	-26	-42	-7.58	-11	-12
Net Cash From Financing Activities	369	2,048	-2,632	-3,272	-2,390	-624	-4,167	-4,579	-2,831	-3,996
Net Cash From Continuing Financing Activities	369	2,048	-2,632	-3,272	-2,390	-624	-4,167	-4,579	-2,831	-3,996
Repayment of Debt	-0.66	-0.49	-1,688	-1,506	-493	-1,916	-864	-12	-27	-270
Repurchase of Common Equity	-573	-158	-812	-2,653	-3,781	-1,370	-2,698	-3,866	-2,017	-2,843
Payment of Dividends	-116	-190	-243	-308	-678	-657	-727	-815	-908	-1,019
Issuance of Common Equity	66	59	73	85	85	94	122	114	121	136
Effect of Exchange Rate Changes	-9.02	-0.72	-0.06	2.59	-4.04	-2.75	7.22	-30	0.13	-22
Cash Interest Paid	-	-	105	84	77	172	204	176	175	173
Cash Income Taxes Paid	115	40	28	143	300	223	519	808	810	992

This table details how cash moves in and out of Lam Research's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	-672	734	229	820	31	-461	499	48	177	221	-395
Net Cash From Operating Activities	444	1,190	1,140	1,726	1,123	951	1,454	1,385	862	1,568	742
Net Cash From Continuing Operating Activities	444	1,190	1,140	1,726	1,123	951	1,454	1,385	862	1,568	742
Net Income / (Loss) Continuing Operations	1,209	1,426	1,469	814	803	887	954	966	1,020	1,116	1,191
Consolidated Net Income / (Loss)	1,209	1,426	1,469	814	803	887	954	966	1,020	1,116	1,191
Depreciation Expense	88	76	85	92	90	90	91	90	88	94	96
Non-Cash Adjustments To Reconcile Net Income	103	68	86	-58	242	67	74	87	75	80	73
Changes in Operating Assets and Liabilities, net	-956	-380	-500	878	-12	-94	335	242	-321	278	-619
Net Cash From Investing Activities	-76	-128	-267	-84	-55	-75	-102	-92	-102	-111	-175
Net Cash From Continuing Investing Activities	-76	-128	-267	-84	-55	-75	-102	-92	-102	-111	-175
Purchase of Property, Plant & Equipment	-126	-140	-163	-119	-79	-77	-115	-104	-101	-111	-188
Other Investing Activities, net	26	-2.44	-1.66	-4.29	-2.79	-4.97	-2.52	-3.36	-0.87	0.04	13
Net Cash From Financing Activities	-1,024	-311	-662	-820	-1,038	-1,326	-860	-1,236	-574	-1,259	-935
Net Cash From Continuing Financing Activities	-1,024	-311	-662	-820	-1,038	-1,326	-860	-1,236	-574	-1,259	-935
Repayment of Debt	-2.18	-2.34	-16	-3.61	-4.98	-255	-4.81	-0.76	-8.82	-1.26	-0.27
Repurchase of Common Equity	-876	-110	-456	-582	-869	-843	-645	-981	-374	-997	-698
Payment of Dividends	-208	-206	-236	-234	-232	-230	-264	-263	-261	-261	-298
Issuance of Common Equity	63	6.80	46	-	68	2.82	55	8.24	70	-0.04	60
Effect of Exchange Rate Changes	-17	-17	18	-2.30	1.48	-11	6.73	-8.45	-9.62	23	-26

This table presents Lam Research's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	9,365	12,264	12,123	12,479	12,001	14,559	15,892	17,196	18,782	18,745
Total Current Assets	6,271	9,213	9,142	9,150	8,560	10,854	11,652	12,285	13,228	12,883
Cash & Equivalents	1,502	5,039	2,378	4,512	3,658	4,915	4,418	3,522	5,337	5,848
Accounts Receivable	1,094	1,262	1,673	2,177	1,456	2,097	3,026	4,314	2,823	2,519
Inventories, net	943	972	1,233	1,876	1,540	1,900	2,689	3,966	4,816	4,218
Prepaid Expenses	157	151	195	147	134	146	208	347	252	298
Plant, Property, & Equipment, net	621	640	686	903	0.00	0.00	0.00	1,648	1,857	2,155
Total Noncurrent Assets	2,472	2,412	2,295	2,427	3,441	3,706	4,240	3,263	3,697	3,707
Goodwill	1,388	1,386	1,386	1,485	1,485	1,484	1,490	1,515	1,622	1,765
Other Noncurrent Operating Assets	186	210	242	368	1,484	1,799	2,365	1,394	1,906	1,942
Total Liabilities & Shareholders' Equity	9,365	12,264	12,123	12,479	12,001	14,559	15,892	17,196	18,782	18,745
Total Liabilities	4,020	6,162	5,135	5,899	7,278	9,376	9,865	10,917	10,571	10,205
Total Current Liabilities	2,631	2,418	2,950	3,150	2,372	3,162	3,528	4,565	4,185	4,338
Short-Term Debt	1,360	948	908	610	667	840	11	7.38	8.36	505
Accounts Payable	300	348	465	511	377	592	830	1,011	471	614
Accrued Expenses	649	773	969	1,309	947	1,273	1,719	1,974	2,011	1,802
Current Deferred Revenue	322	349	608	720	381	458	967	-	1,695	1,418
Total Noncurrent Liabilities	1,388	3,744	2,185	2,749	4,906	6,213	6,337	6,353	6,387	5,867
Long-Term Debt	1,001	3,378	1,785	1,807	3,823	4,971	4,990	4,998	5,003	4,479
Noncurrent Deferred Revenue	203	232	120	852	893	910	948	931	882	813
Other Noncurrent Operating Liabilities	184	135	280	91	191	333	399	423	501	575
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,103	5,895	6,817	6,502	4,674	5,172	6,027	6,278	8,210	8,539
Total Preferred & Common Equity	5,103	5,895	6,817	6,502	4,674	5,172	6,027	6,278	8,210	8,539
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	5,103	5,895	6,817	6,502	4,674	5,172	6,027	6,278	8,210	8,539
Common Stock	5,367	5,573	5,846	6,145	6,410	6,696	7,053	7,415	7,809	8,224
Retained Earnings	4,097	4,820	6,250	8,261	9,931	11,521	14,685	18,455	22,032	24,811
Treasury Stock	-4,303	-4,429	-5,216	-7,846	-11,603	-12,950	-15,647	-19,481	-21,530	-24,366
Accumulated Other Comprehensive Income / (Loss)	-58	-69	-62	-57	-64	-94	-64	-110	-101	-130

This table presents Lam Research's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Total Assets	17,196	18,721	19,206	19,243	18,782	18,538	18,784	18,280	18,745	19,532	19,840
Total Current Assets	12,285	13,613	13,709	13,730	13,228	12,994	13,055	12,488	12,883	13,492	13,613
Cash & Equivalents	3,522	4,256	4,485	5,306	5,337	5,126	5,623	5,672	5,848	6,067	5,665
Accounts Receivable	4,314	4,570	4,070	3,262	2,823	2,811	2,707	2,204	2,519	2,937	3,305
Inventories, net	3,966	4,360	4,820	4,882	4,816	4,748	4,430	4,323	4,218	4,210	4,358
Prepaid Expenses	347	306	231	216	252	278	279	290	298	278	284
Plant, Property, & Equipment, net	1,648	1,719	0.00	0.00	1,857	2,111	2,147	2,182	2,155	2,214	2,314
Total Noncurrent Assets	3,263	3,390	5,498	5,513	3,697	3,434	3,582	3,609	3,707	3,826	3,913
Goodwill	1,515	1,515	1,620	1,622	1,622	1,626	1,627	1,627	1,765	1,758	1,761
Other Noncurrent Operating Assets	1,394	1,514	3,441	3,461	1,906	1,650	1,804	1,840	1,942	2,068	2,152
Total Liabilities & Shareholders' Equity	17,196	18,721	19,206	19,243	18,782	18,538	18,784	18,280	18,745	19,532	19,840
Total Liabilities	10,917	11,309	10,902	10,836	10,571	10,491	10,561	10,258	10,205	11,061	11,032
Total Current Liabilities	4,565	5,053	4,547	4,441	4,185	4,247	4,272	4,430	4,338	5,343	5,350
Short-Term Debt	7.38	7.11	7.23	8.46	8.36	3.86	3.78	505	505	505	504
Accounts Payable	1,011	1,146	919	602	471	528	500	532	614	704	822
Accrued Expenses	1,974	1,949	2,068	1,990	2,011	2,120	1,976	1,792	1,802	2,196	2,096
Other Current Liabilities	1,572	-	-	-	-	-	1,793	-	-	-	1,928
Total Noncurrent Liabilities	6,353	6,255	6,355	6,395	6,387	6,244	6,289	5,827	5,867	5,718	5,682
Long-Term Debt	4,998	4,996	4,996	4,997	5,003	4,980	4,980	4,478	4,479	4,479	4,478
Noncurrent Deferred Revenue	931	840	862	885	882	781	798	832	813	665	670
Other Noncurrent Operating Liabilities	423	419	496	512	501	483	511	517	575	574	534
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,278	7,413	8,305	8,407	8,210	8,047	8,222	8,022	8,539	8,472	8,808
Total Preferred & Common Equity	6,278	7,413	8,305	8,407	8,210	8,047	8,222	8,022	8,539	8,472	8,808
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,278	7,413	8,305	8,407	8,210	8,047	8,222	8,022	8,539	8,472	8,808
Common Stock	7,415	7,493	7,606	7,680	7,809	7,879	7,997	8,082	8,224	8,304	8,441
Retained Earnings	18,455	19,645	20,879	21,460	22,032	22,655	23,347	24,052	24,811	25,630	26,525
Treasury Stock	-19,481	-19,591	-20,072	-20,628	-21,530	-22,366	-23,004	-23,985	-24,366	-25,375	-26,024
Accumulated Other Comprehensive Income / (Loss)	-110	-134	-109	-105	-101	-121	-118	-128	-130	-88	-134

This table displays calculated financial ratios and metrics derived from Lam Research's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.15%	11.91%	36.15%	38.23%	-12.85%	4.05%	45.61%	17.78%	1.17%	-14.48%
EBITDA Growth	0.31%	22.81%	71.35%	62.91%	-21.09%	3.18%	64.51%	18.15%	-1.36%	-13.42%
EBIT Growth	2.42%	29.60%	88.69%	73.97%	-22.38%	5.25%	69.74%	18.81%	-1.62%	-14.66%
NOPAT Growth	17.72%	46.66%	74.29%	36.16%	-9.04%	5.91%	71.41%	19.08%	-4.27%	-18.07%
Net Income Growth	3.68%	39.43%	85.74%	40.22%	-7.95%	2.75%	73.57%	17.83%	-2.05%	-15.14%
EPS Growth	2.21%	41.08%	77.01%	42.53%	4.02%	10.22%	78.15%	21.75%	1.40%	-12.68%
Operating Cash Flow Growth	-11.54%	94.38%	56.70%	30.87%	19.59%	-33.05%	68.74%	-13.61%	67.08%	-10.17%
Free Cash Flow Firm Growth	0.58%	96.74%	54.53%	15.50%	22.37%	-25.76%	62.99%	-18.25%	66.02%	-2.62%
Invested Capital Growth	3.66%	-3.15%	1.01%	12.04%	-6.96%	14.27%	25.24%	46.12%	6.91%	-2.66%
Revenue Q/Q Growth	4.63%	1.11%	11.07%	7.59%	-7.34%	4.48%	10.20%	2.93%	-7.57%	4.66%
EBITDA Q/Q Growth	-10.52%	10.23%	19.57%	11.34%	-11.96%	5.35%	13.82%	1.09%	-8.30%	6.53%
EBIT Q/Q Growth	-13.82%	13.11%	21.57%	12.68%	-12.48%	5.70%	14.71%	0.98%	-8.84%	7.14%
NOPAT Q/Q Growth	-2.67%	15.46%	15.83%	25.60%	-17.56%	7.15%	12.52%	3.58%	-10.21%	5.70%
Net Income Q/Q Growth	-13.48%	16.23%	18.70%	26.23%	-17.95%	7.38%	12.95%	1.42%	-8.26%	6.03%
EPS Q/Q Growth	-12.94%	16.00%	17.86%	27.37%	-13.84%	8.71%	13.69%	2.50%	-7.52%	6.38%
Operating Cash Flow Q/Q Growth	-40.88%	57.34%	30.34%	-1.75%	5.38%	-3.07%	21.01%	-24.24%	15.08%	-5.30%
Free Cash Flow Firm Q/Q Growth	-7.48%	24.23%	11.70%	-1.43%	7.44%	-4.37%	24.56%	-26.52%	8.97%	-1.19%
Invested Capital Q/Q Growth	-1.63%	-4.05%	-2.33%	13.24%	-5.32%	1.05%	-1.98%	14.71%	1.18%	4.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.43%	44.49%	44.97%	46.63%	45.15%	45.88%	46.53%	45.69%	44.62%	47.32%
EBITDA Margin	19.37%	21.26%	26.75%	31.53%	28.55%	28.31%	31.98%	32.08%	31.28%	31.67%
Operating Margin	14.98%	18.25%	23.74%	29.01%	25.53%	26.62%	30.64%	31.24%	29.69%	28.61%
EBIT Margin	14.09%	16.31%	22.61%	28.45%	25.34%	25.64%	29.88%	30.15%	29.32%	29.25%
Profit (Net Income) Margin	12.47%	15.53%	21.19%	21.49%	22.70%	22.42%	26.72%	26.73%	25.88%	25.68%
Tax Burden Percent	88.49%	95.20%	93.71%	75.53%	89.57%	87.45%	89.42%	88.68%	88.29%	87.79%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	11.51%	4.80%	6.29%	24.47%	10.43%	12.55%	10.58%	11.32%	11.71%	12.21%
Return on Invested Capital (ROIC)	20.53%	30.04%	52.95%	67.66%	60.34%	61.88%	88.31%	76.84%	59.88%	48.11%
ROIC Less NNEP Spread (ROIC-NNEP)	22.74%	34.73%	55.62%	69.12%	61.16%	69.24%	97.63%	-210.15%	44.85%	33.91%
Return on Net Nonoperating Assets (RNNOA)	-8.11%	-14.07%	-27.01%	-32.57%	-21.56%	-16.42%	-18.58%	-1.99%	2.39%	-2.41%
Return on Equity (ROE)	12.42%	15.97%	25.94%	35.09%	38.77%	45.46%	69.73%	74.85%	62.27%	45.71%
Cash Return on Invested Capital (CROIC)	16.93%	33.24%	51.95%	56.31%	67.55%	48.56%	65.89%	39.36%	53.20%	50.81%
Operating Return on Assets (OROA)	8.54%	8.88%	14.86%	25.62%	19.99%	19.39%	28.71%	31.39%	28.40%	23.24%
Return on Assets (ROA)	7.55%	8.45%	13.92%	19.35%	17.90%	16.96%	25.67%	27.84%	25.08%	20.40%
Return on Common Equity (ROCE)	11.92%	15.34%	25.19%	34.45%	38.34%	45.18%	69.66%	74.85%	62.27%	45.71%
Return on Equity Simple (ROE_SIMPLE)	12.85%	15.51%	24.90%	36.62%	46.89%	43.53%	64.85%	73.35%	54.94%	44.82%
Net Operating Profit after Tax (NOPAT)	697	1,023	1,783	2,427	2,208	2,338	4,008	4,773	4,569	3,743
NOPAT Margin	13.26%	17.38%	22.24%	21.91%	22.87%	23.28%	27.40%	27.70%	26.22%	25.11%
Net Nonoperating Expense Percent (NNEP)	-2.22%	-4.68%	-2.67%	-1.45%	-0.82%	-7.36%	-9.32%	286.99%	15.03%	14.21%
Cost of Revenue to Revenue	56.57%	55.51%	55.03%	53.37%	54.85%	54.12%	53.47%	54.31%	55.38%	52.68%
SG&A Expenses to Revenue	11.25%	10.72%	8.33%	6.88%	7.28%	6.79%	5.67%	5.14%	4.78%	5.83%
R&D to Revenue	15.69%	15.52%	12.90%	10.74%	12.34%	12.47%	10.21%	9.31%	9.91%	12.76%
Operating Expenses to Revenue	28.45%	26.24%	21.23%	17.62%	19.62%	19.26%	15.88%	14.45%	14.93%	18.71%
Earnings before Interest and Taxes (EBIT)	741	960	1,812	3,152	2,447	2,575	4,371	5,193	5,109	4,360
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,019	1,251	2,144	3,493	2,756	2,844	4,678	5,527	5,452	4,720
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.25	1.98	3.24	4.03	5.65	8.11	14.41	9.71	9.86	16.30
Price to Tangible Book Value (P/TBV)	3.84	2.96	4.39	5.57	8.88	11.92	19.71	13.08	12.62	20.55
Price to Revenue (P/Rev)	2.18	1.98	2.75	2.36	2.73	4.18	5.94	3.54	4.65	9.34
Price to Earnings (P/E)	17.50	12.76	13.00	10.99	12.04	18.63	22.22	13.24	17.95	36.37
Dividend Yield	1.16%	1.64%	1.21%	1.60%	2.50%	1.59%	0.85%	1.36%	1.14%	0.75%
Earnings Yield	5.71%	7.83%	7.69%	9.10%	8.30%	5.37%	4.50%	7.55%	5.57%	2.75%
Enterprise Value to Invested Capital (EV/IC)	2.84	2.72	5.51	6.19	7.16	10.13	17.01	8.42	10.23	18.03
Enterprise Value to Revenue (EV/Rev)	1.87	1.55	2.32	2.12	2.61	4.06	5.87	3.60	4.63	9.28
Enterprise Value to EBITDA (EV/EBITDA)	9.65	7.29	8.69	6.72	9.16	14.35	18.35	11.23	14.80	29.31
Enterprise Value to EBIT (EV/EBIT)	13.27	9.50	10.28	7.44	10.32	15.85	19.64	11.95	15.79	31.73
Enterprise Value to NOPAT (EV/NOPAT)	14.09	8.92	10.45	9.67	11.43	17.45	21.42	13.01	17.65	36.96
Enterprise Value to Operating Cash Flow (EV/OCF)	14.75	7.04	9.18	8.83	7.95	19.19	23.93	20.03	15.57	29.74
Enterprise Value to Free Cash Flow (EV/FCFF)	17.09	8.06	10.65	11.62	10.21	22.24	28.70	25.39	19.87	35.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.44	0.71	0.39	0.37	0.95	1.12	0.83	0.80	0.61	0.58
Long-Term Debt to Equity	0.19	0.55	0.26	0.27	0.81	0.96	0.83	0.80	0.61	0.52
Financial Leverage	-0.36	-0.41	-0.49	-0.47	-0.35	-0.24	-0.19	0.01	0.05	-0.07
Leverage Ratio	1.64	1.89	1.86	1.81	2.17	2.68	2.72	2.69	2.48	2.24
Compound Leverage Factor	1.64	1.89	1.86	1.81	2.17	2.68	2.72	2.69	2.48	2.24
Debt to Total Capital	30.64%	41.48%	27.82%	26.86%	48.73%	52.85%	45.35%	44.36%	37.90%	36.85%
Short-Term Debt to Total Capital	17.64%	9.09%	9.38%	6.78%	7.24%	7.64%	0.10%	0.07%	0.06%	3.73%
Long-Term Debt to Total Capital	12.99%	32.40%	18.44%	20.08%	41.49%	45.21%	45.25%	44.30%	37.84%	33.12%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.14%	1.99%	1.75%	0.87%	0.54%	0.10%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	66.22%	56.53%	70.42%	72.27%	50.73%	47.05%	54.65%	55.64%	62.10%	63.15%
Debt to EBITDA	2.32	3.46	1.26	0.69	1.63	2.04	1.07	0.91	0.92	1.06
Net Debt to EBITDA	-1.85	-2.20	-1.68	-0.80	-0.43	-0.41	-0.21	0.20	-0.06	-0.18
Long-Term Debt to EBITDA	0.98	2.70	0.83	0.52	1.39	1.75	1.07	0.90	0.92	0.95
Debt to NOPAT	3.39	4.23	1.51	1.00	2.03	2.49	1.25	1.05	1.10	1.33
Net Debt to NOPAT	-2.71	-2.69	-2.02	-1.15	-0.54	-0.49	-0.24	0.23	-0.07	-0.23
Long-Term Debt to NOPAT	1.44	3.30	1.00	0.74	1.73	2.13	1.25	1.05	1.10	1.20
Altman Z-Score	3.61	3.09	5.07	5.89	5.43	5.70	9.02	7.39	8.64	12.15
Noncontrolling Interest Sharing Ratio	4.03%	3.93%	2.88%	1.83%	1.13%	0.61%	0.10%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.38	3.81	3.10	2.90	3.61	3.43	3.30	2.69	3.16	2.97
Quick Ratio	1.96	3.35	2.62	2.26	2.90	2.79	2.48	1.75	1.95	1.93
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	575	1,132	1,749	2,020	2,472	1,835	2,991	2,445	4,059	3,953
Operating Cash Flow to CapEx	336.02%	738.60%	1,299.76%	971.13%	1,046.49%	1,046.28%	1,027.84%	567.67%	1,032.55%	1,172.83%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.61	0.54	0.66	0.90	0.79	0.76	0.96	1.04	0.97	0.79
Accounts Receivable Turnover	5.55	5.00	5.46	5.75	5.32	5.65	5.71	4.69	4.88	5.58
Inventory Turnover	3.53	3.41	4.00	3.80	3.10	3.16	3.41	2.81	2.20	1.74
Fixed Asset Turnover	9.03	9.34	12.09	13.95	0.00	0.00	0.00	0.00	9.95	7.43
Accounts Payable Turnover	11.36	10.08	10.85	12.12	11.93	11.22	11.00	10.16	13.03	14.48
Days Sales Outstanding (DSO)	65.73	73.04	66.85	63.44	68.67	64.55	63.93	77.76	74.74	65.41
Days Inventory Outstanding (DIO)	103.30	106.99	91.24	95.98	117.75	115.49	107.09	129.84	166.07	209.96
Days Payable Outstanding (DPO)	32.13	36.22	33.64	30.12	30.59	32.53	33.18	35.91	28.02	25.21
Cash Conversion Cycle (CCC)	136.90	143.81	124.45	129.30	155.83	147.51	137.84	171.68	212.78	250.17
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,459	3,350	3,383	3,791	3,527	4,030	5,047	7,375	7,885	7,675
Invested Capital Turnover	1.55	1.73	2.38	3.09	2.64	2.66	3.22	2.77	2.28	1.92
Increase / (Decrease) in Invested Capital	122	-109	34	407	-264	503	1,017	2,328	510	-210
Enterprise Value (EV)	9,829	9,122	18,631	23,463	25,242	40,807	85,847	62,081	80,661	138,355
Market Capitalization	11,473	11,667	22,065	26,174	26,389	41,949	86,827	60,984	80,987	139,220
Book Value per Share	$32.23	$36.93	$42.26	$39.63	$31.17	$35.63	$42.26	$45.26	$61.11	$65.32
Tangible Book Value per Share	$18.87	$24.71	$31.12	$28.65	$19.83	$24.25	$30.88	$33.60	$47.78	$51.82
Total Capital	7,706	10,428	9,681	8,997	9,213	10,994	11,029	11,284	13,222	13,523
Total Debt	2,361	4,326	2,693	2,417	4,490	5,811	5,002	5,006	5,012	4,983
Total Long-Term Debt	1,001	3,378	1,785	1,807	3,823	4,971	4,990	4,998	5,003	4,479
Net Debt	-1,886	-2,752	-3,604	-2,789	-1,196	-1,153	-980	1,097	-326	-865
Capital Expenditures (CapEx)	198	175	156	273	303	203	349	546	502	397
Debt-free, Cash-free Net Working Capital (DFCFNWC)	923	915	1,060	1,660	1,425	1,821	2,407	4,070	3,715	3,202
Debt-free Net Working Capital (DFNWC)	4,999	7,743	7,101	6,610	6,856	8,531	8,136	7,728	9,052	9,050
Net Working Capital (NWC)	3,639	6,795	6,192	6,000	6,189	7,691	8,125	7,720	9,043	8,545
Net Nonoperating Expense (NNE)	42	109	85	46	16	86	99	167	58	-85
Net Nonoperating Obligations (NNO)	-1,886	-2,752	-3,604	-2,789	-1,196	-1,153	-980	1,097	-326	-865
Total Depreciation and Amortization (D&A)	278	291	332	341	309	269	307	334	342	360
Debt-free, Cash-free Net Working Capital to Revenue	17.54%	15.54%	13.22%	14.99%	14.76%	18.13%	16.46%	23.63%	21.31%	21.48%
Debt-free Net Working Capital to Revenue	95.05%	131.55%	88.61%	59.67%	71.02%	84.93%	55.63%	44.86%	51.94%	60.71%
Net Working Capital to Revenue	69.20%	115.45%	77.27%	54.16%	64.11%	76.57%	55.55%	44.82%	51.89%	57.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.11	$5.75	$10.47	$14.73	$14.37	$15.55	$27.22	$32.92	$33.30	$29.13
Adjusted Weighted Average Basic Shares Outstanding	159.63M	158.92M	162.22M	161.64M	152.48M	144.81M	143.61M	139.90M	135.47M	131.41M
Adjusted Diluted Earnings per Share	$3.70	$5.22	$9.24	$13.17	$13.70	$15.10	$26.90	$32.75	$33.21	$29.00
Adjusted Weighted Average Diluted Shares Outstanding	177.07M	175.16M	183.77M	180.78M	159.92M	149.09M	145.32M	140.63M	135.83M	132.00M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	158.19M	160.26M	162.45M	157.58M	144.53M	145.63M	141.95M	136.99M	132.51M	129.88M
Normalized Net Operating Profit after Tax (NOPAT)	768	1,023	1,783	2,427	2,208	2,338	4,008	4,773	4,606	3,743
Normalized NOPAT Margin	14.60%	17.38%	22.24%	21.91%	22.87%	23.28%	27.40%	27.70%	26.43%	25.11%
Pre Tax Income Margin	14.09%	16.31%	22.61%	28.45%	25.34%	25.64%	29.88%	30.15%	29.32%	29.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.70%	20.83%	14.34%	12.92%	30.95%	29.17%	18.60%	17.70%	20.13%	26.62%
Augmented Payout Ratio	105.14%	38.16%	62.15%	124.37%	203.47%	90.00%	87.62%	101.64%	64.84%	100.89%

This table displays calculated financial ratios and metrics derived from Lam Research's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.83%	17.88%	24.87%	-4.70%	-30.81%	-31.38%	-28.79%	-1.96%	20.71%	19.70%	16.44%
EBITDA Growth	4.30%	21.59%	20.83%	-15.45%	-34.12%	-35.50%	-32.20%	14.80%	30.37%	24.41%	22.61%
EBIT Growth	3.83%	23.18%	21.81%	-17.25%	-36.45%	-38.02%	-34.20%	16.43%	33.67%	26.19%	24.02%
NOPAT Growth	14.35%	21.40%	26.69%	-23.90%	-39.66%	-39.50%	-37.86%	14.33%	25.38%	23.20%	26.97%
Net Income Growth	5.62%	20.86%	22.91%	-20.33%	-33.62%	-37.76%	-35.02%	18.65%	27.13%	25.81%	24.81%
EPS Growth	10.08%	25.63%	27.61%	-17.67%	-30.89%	-37.76%	-35.02%	22.13%	28.81%	25.81%	27.78%
Operating Cash Flow Growth	-69.08%	160.01%	-20.85%	127.85%	152.90%	-20.04%	27.51%	-19.79%	-23.18%	64.90%	-48.97%
Free Cash Flow Firm Growth	-856.46%	8.08%	-431.08%	-164.62%	128.12%	314.17%	268.53%	354.85%	323.80%	97.59%	-66.00%
Invested Capital Growth	46.12%	30.84%	43.78%	21.21%	6.91%	1.12%	-10.63%	-5.89%	-2.66%	-6.18%	7.36%
Revenue Q/Q Growth	14.16%	9.46%	4.01%	-26.68%	-17.12%	8.57%	7.93%	0.94%	2.05%	7.66%	4.99%
EBITDA Q/Q Growth	18.70%	19.61%	0.40%	-40.68%	-7.51%	17.09%	5.54%	0.43%	5.04%	11.74%	4.02%
EBIT Q/Q Growth	19.76%	21.77%	-0.17%	-43.16%	-8.02%	18.76%	5.99%	0.56%	5.60%	12.12%	4.16%
NOPAT Q/Q Growth	22.60%	11.16%	2.09%	-45.31%	-2.78%	11.46%	4.85%	0.63%	6.61%	9.52%	8.06%
Net Income Q/Q Growth	18.32%	17.95%	2.99%	-44.57%	-1.41%	10.57%	7.54%	1.21%	5.64%	9.43%	6.68%
EPS Q/Q Growth	19.73%	18.88%	3.66%	-44.20%	0.50%	10.57%	7.54%	1.66%	5.99%	9.43%	6.98%
Operating Cash Flow Q/Q Growth	-41.41%	167.97%	-4.15%	51.42%	-34.97%	-15.28%	52.85%	-4.75%	-37.72%	81.87%	-52.70%
Free Cash Flow Firm Q/Q Growth	-389.67%	63.16%	-191.11%	49.62%	152.03%	180.64%	129.07%	-23.81%	-13.48%	30.84%	-60.58%
Invested Capital Q/Q Growth	14.71%	5.60%	8.74%	-7.98%	1.18%	-0.12%	-3.89%	-3.10%	4.66%	-3.74%	9.97%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.31%	46.05%	45.03%	41.49%	45.46%	47.52%	46.76%	47.46%	47.53%	48.05%	47.37%
EBITDA Margin	31.21%	34.10%	32.92%	26.63%	29.72%	32.05%	31.34%	31.19%	32.10%	33.32%	33.01%
Operating Margin	31.91%	33.46%	31.84%	24.35%	26.65%	29.38%	28.13%	27.87%	29.10%	30.33%	30.48%
EBIT Margin	29.31%	32.61%	31.30%	24.26%	26.93%	29.45%	28.92%	28.82%	29.82%	31.05%	30.81%
Profit (Net Income) Margin	26.08%	28.10%	27.83%	21.04%	25.02%	25.48%	25.39%	25.46%	26.35%	26.79%	27.22%
Tax Burden Percent	88.96%	86.17%	88.90%	86.70%	92.93%	86.52%	87.78%	88.35%	88.39%	86.26%	88.34%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	11.04%	13.83%	11.10%	13.30%	7.07%	13.48%	12.22%	11.65%	11.61%	13.74%	11.66%
Return on Invested Capital (ROIC)	78.75%	75.53%	75.09%	55.98%	56.56%	51.40%	44.09%	46.36%	49.28%	53.45%	55.63%
ROIC Less NNEP Spread (ROIC-NNEP)	-105.02%	60.90%	86.99%	58.70%	58.73%	53.62%	33.40%	41.47%	45.15%	49.32%	53.74%
Return on Net Nonoperating Assets (RNNOA)	-1.00%	2.34%	-2.48%	-0.86%	3.13%	0.70%	-0.99%	-3.29%	-3.21%	-3.75%	-4.22%
Return on Equity (ROE)	77.75%	77.87%	72.60%	55.12%	59.69%	52.11%	43.10%	43.07%	46.07%	49.70%	51.41%
Cash Return on Invested Capital (CROIC)	39.36%	46.50%	38.54%	52.38%	53.20%	49.84%	53.94%	52.90%	50.81%	58.12%	46.41%
Operating Return on Assets (OROA)	30.53%	34.23%	33.22%	25.54%	26.09%	25.04%	21.80%	21.87%	23.69%	25.43%	25.86%
Return on Assets (ROA)	27.16%	29.50%	29.53%	22.14%	24.24%	21.66%	19.14%	19.33%	20.94%	21.94%	22.84%
Return on Common Equity (ROCE)	77.75%	77.87%	72.60%	55.12%	59.69%	52.11%	43.10%	43.07%	46.07%	49.70%	51.41%
Return on Equity Simple (ROE_SIMPLE)	0.00%	65.45%	61.71%	58.49%	0.00%	49.36%	42.06%	45.00%	0.00%	47.89%	48.75%
Net Operating Profit after Tax (NOPAT)	1,316	1,463	1,494	817	794	885	928	934	996	1,090	1,178
NOPAT Margin	28.39%	28.83%	28.30%	21.11%	24.76%	25.42%	24.69%	24.62%	25.72%	26.16%	26.93%
Net Nonoperating Expense Percent (NNEP)	183.76%	14.63%	-11.91%	-2.72%	-2.17%	-2.22%	10.69%	4.89%	4.13%	4.13%	1.88%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	7.03%	-	-	-	8.55%
Cost of Revenue to Revenue	54.69%	53.95%	54.97%	58.51%	54.54%	52.48%	53.24%	52.54%	52.47%	51.95%	52.63%
SG&A Expenses to Revenue	4.53%	4.05%	4.43%	5.00%	6.23%	5.95%	6.09%	5.69%	5.59%	5.83%	5.58%
R&D to Revenue	8.87%	8.54%	8.76%	11.10%	12.53%	12.14%	12.50%	13.50%	12.86%	11.88%	11.31%
Operating Expenses to Revenue	13.40%	12.59%	13.19%	17.14%	18.82%	18.14%	18.63%	19.60%	18.43%	17.72%	16.89%
Earnings before Interest and Taxes (EBIT)	1,359	1,655	1,652	939	864	1,026	1,087	1,093	1,154	1,294	1,348
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,447	1,730	1,737	1,031	953	1,116	1,178	1,183	1,243	1,389	1,444
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	9.71	6.89	6.66	7.96	9.86	10.10	12.38	15.85	16.30	12.68	10.72
Price to Tangible Book Value (P/TBV)	13.08	8.83	8.51	10.13	12.62	12.97	15.79	20.33	20.55	16.00	13.40
Price to Revenue (P/Rev)	3.54	2.84	2.90	3.55	4.65	5.13	7.11	8.93	9.34	6.89	5.83
Price to Earnings (P/E)	13.24	10.53	10.79	13.61	17.95	20.45	29.43	35.22	36.37	26.48	22.00
Dividend Yield	1.36%	2.07%	1.59%	1.35%	1.14%	1.17%	0.96%	0.80%	0.75%	1.00%	1.17%
Earnings Yield	7.55%	9.49%	9.27%	7.35%	5.57%	4.89%	3.40%	2.84%	2.75%	3.78%	4.55%
Enterprise Value to Invested Capital (EV/IC)	8.42	6.61	6.55	8.51	10.23	10.29	13.36	17.24	18.03	14.39	11.54
Enterprise Value to Revenue (EV/Rev)	3.60	2.86	2.91	3.52	4.63	5.12	7.06	8.88	9.28	6.82	5.78
Enterprise Value to EBITDA (EV/EBITDA)	11.23	8.82	9.04	11.15	14.80	16.76	23.63	28.54	29.31	21.30	17.83
Enterprise Value to EBIT (EV/EBIT)	11.95	9.35	9.56	11.83	15.79	18.10	25.82	31.07	31.73	22.97	19.17
Enterprise Value to NOPAT (EV/NOPAT)	13.01	10.23	10.38	13.03	17.65	20.32	29.52	35.71	36.96	26.93	22.33
Enterprise Value to Operating Cash Flow (EV/OCF)	20.03	13.44	15.71	14.73	15.57	16.41	19.24	25.74	29.74	20.18	20.57
Enterprise Value to Free Cash Flow (EV/FCFF)	25.39	16.12	20.05	17.80	19.87	20.77	23.38	31.61	35.00	23.98	25.74
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.80	0.68	0.60	0.60	0.61	0.62	0.61	0.62	0.58	0.59	0.57
Long-Term Debt to Equity	0.80	0.67	0.60	0.59	0.61	0.62	0.61	0.56	0.52	0.53	0.51
Financial Leverage	0.01	0.04	-0.03	-0.01	0.05	0.01	-0.03	-0.08	-0.07	-0.08	-0.08
Leverage Ratio	2.69	2.59	2.43	2.48	2.48	2.41	2.30	2.28	2.24	2.30	2.27
Compound Leverage Factor	2.69	2.59	2.43	2.48	2.48	2.41	2.30	2.28	2.24	2.30	2.27
Debt to Total Capital	44.36%	40.30%	37.60%	37.32%	37.90%	38.25%	37.74%	38.32%	36.85%	37.04%	36.13%
Short-Term Debt to Total Capital	0.07%	0.06%	0.05%	0.06%	0.06%	0.03%	0.03%	3.88%	3.73%	3.75%	3.66%
Long-Term Debt to Total Capital	44.30%	40.24%	37.54%	37.26%	37.84%	38.22%	37.71%	34.43%	33.12%	33.29%	32.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	55.64%	59.70%	62.40%	62.68%	62.10%	61.75%	62.26%	61.68%	63.15%	62.96%	63.87%
Debt to EBITDA	0.91	0.86	0.82	0.84	0.92	1.03	1.17	1.12	1.06	1.00	0.95
Net Debt to EBITDA	0.20	0.06	0.03	-0.10	-0.06	-0.04	-0.15	-0.16	-0.18	-0.22	-0.13
Long-Term Debt to EBITDA	0.90	0.86	0.81	0.84	0.92	1.03	1.16	1.01	0.95	0.90	0.85
Debt to NOPAT	1.05	0.99	0.94	0.98	1.10	1.25	1.46	1.41	1.33	1.26	1.19
Net Debt to NOPAT	0.23	0.07	0.03	-0.12	-0.07	-0.04	-0.19	-0.19	-0.23	-0.27	-0.16
Long-Term Debt to NOPAT	1.05	0.99	0.93	0.98	1.10	1.25	1.45	1.26	1.20	1.13	1.07
Altman Z-Score	6.66	5.98	6.41	6.99	7.90	7.96	9.04	10.78	11.58	9.18	8.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.69	2.69	3.02	3.09	3.16	3.06	3.06	2.82	2.97	2.53	2.54
Quick Ratio	1.75	1.77	1.90	1.94	1.95	1.88	1.95	1.78	1.93	1.69	1.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-1,012	-373	-1,085	-547	284	798	1,829	1,393	1,205	1,577	622
Operating Cash Flow to CapEx	353.04%	849.32%	697.88%	1,445.24%	1,427.13%	1,235.41%	1,261.18%	1,336.02%	856.03%	1,418.30%	393.92%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.04	1.05	1.06	1.05	0.97	0.85	0.75	0.76	0.79	0.82	0.84
Accounts Receivable Turnover	4.69	4.52	5.10	5.42	4.88	4.29	4.22	5.21	5.58	5.42	5.39
Inventory Turnover	2.81	2.70	2.64	2.50	2.20	1.92	1.70	1.64	1.74	1.83	1.93
Fixed Asset Turnover	0.00	0.00	0.00	0.00	9.95	8.27	0.00	0.00	7.43	7.21	7.27
Accounts Payable Turnover	10.16	9.84	11.13	12.97	13.03	10.44	11.05	13.36	14.48	13.29	12.85
Days Sales Outstanding (DSO)	77.76	80.79	71.60	67.40	74.74	85.06	86.39	70.04	65.41	67.28	67.69
Days Inventory Outstanding (DIO)	129.84	135.17	138.30	146.20	166.07	190.15	215.28	221.91	209.96	199.59	188.85
Days Payable Outstanding (DPO)	35.91	37.08	32.80	28.13	28.02	34.96	33.03	27.33	25.21	27.46	28.41
Cash Conversion Cycle (CCC)	171.68	178.88	177.10	185.47	212.78	240.25	268.65	264.62	250.17	239.42	228.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,375	7,788	8,469	7,793	7,885	7,875	7,568	7,333	7,675	7,388	8,125
Invested Capital Turnover	2.77	2.62	2.65	2.65	2.28	2.02	1.79	1.88	1.92	2.04	2.07
Increase / (Decrease) in Invested Capital	2,328	1,836	2,579	1,364	510	87	-900	-459	-210	-487	557
Enterprise Value (EV)	62,081	51,483	55,469	66,289	80,661	81,069	101,107	126,449	138,355	106,339	93,760
Market Capitalization	60,984	51,107	55,305	66,904	80,987	81,241	101,761	127,138	139,220	107,423	94,443
Book Value per Share	$45.26	$54.11	$60.89	$62.31	$61.11	$60.73	$62.39	$61.19	$65.32	$65.23	$6.85
Tangible Book Value per Share	$33.60	$42.25	$47.66	$48.95	$47.78	$47.27	$48.90	$47.70	$51.82	$51.69	$5.48
Total Capital	11,284	12,416	13,308	13,413	13,222	13,032	13,206	13,006	13,523	13,456	13,790
Total Debt	5,006	5,003	5,003	5,005	5,012	4,984	4,984	4,983	4,983	4,984	4,982
Total Long-Term Debt	4,998	4,996	4,996	4,997	5,003	4,980	4,980	4,478	4,479	4,479	4,478
Net Debt	1,097	375	164	-615	-326	-172	-654	-689	-865	-1,084	-683
Capital Expenditures (CapEx)	126	140	163	119	79	77	115	104	101	111	188
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4,070	4,189	4,581	3,928	3,715	3,594	3,148	2,891	3,202	2,587	3,101
Debt-free Net Working Capital (DFNWC)	7,728	8,566	9,169	9,297	9,052	8,750	8,786	8,563	9,050	8,654	8,767
Net Working Capital (NWC)	7,720	8,559	9,162	9,289	9,043	8,746	8,782	8,058	8,545	8,150	8,263
Net Nonoperating Expense (NNE)	107	37	25	2.89	-8.37	-2.25	-26	-32	-25	-26	-13
Net Nonoperating Obligations (NNO)	1,097	375	164	-615	-326	-172	-654	-689	-865	-1,084	-683
Total Depreciation and Amortization (D&A)	88	76	85	92	90	90	91	90	88	94	96
Debt-free, Cash-free Net Working Capital to Revenue	23.63%	23.28%	24.05%	20.83%	21.31%	22.69%	21.99%	20.30%	21.48%	16.59%	19.13%
Debt-free Net Working Capital to Revenue	44.86%	47.60%	48.14%	49.30%	51.94%	55.25%	61.37%	60.13%	60.71%	55.51%	54.09%
Net Working Capital to Revenue	44.82%	47.56%	48.10%	49.26%	51.89%	55.23%	61.34%	56.59%	57.33%	52.27%	50.97%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$8.76	$10.42	$10.80	$6.03	$6.05	$0.67	$0.73	$7.38	$7.81	$0.86	$0.93
Adjusted Weighted Average Basic Shares Outstanding	139.90M	136.89M	136.02M	134.92M	135.47M	1.33B	1.32B	130.84M	131.41M	1.30B	1.29B
Adjusted Diluted Earnings per Share	$8.74	$10.39	$10.77	$6.01	$6.04	$0.67	$0.72	$7.34	$7.78	$0.86	$0.92
Adjusted Weighted Average Diluted Shares Outstanding	140.63M	137.21M	136.34M	135.40M	135.83M	1.33B	1.32B	131.52M	132.00M	1.30B	1.29B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	136.99M	136.38M	134.94M	134.34M	132.51M	1.32B	1.31B	130.74M	129.88M	1.29B	1.28B
Normalized Net Operating Profit after Tax (NOPAT)	1,316	1,463	1,494	852	794	885	928	947	996	1,090	1,178
Normalized NOPAT Margin	28.39%	28.83%	28.30%	22.02%	24.76%	25.42%	24.69%	24.97%	25.72%	26.16%	26.93%
Pre Tax Income Margin	29.31%	32.61%	31.30%	24.26%	26.93%	29.45%	28.92%	28.82%	29.82%	31.05%	30.81%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	17.70%	17.22%	16.78%	17.97%	20.13%	23.48%	27.79%	27.42%	26.62%	25.87%	25.22%
Augmented Payout Ratio	101.64%	73.67%	71.03%	59.13%	64.84%	92.72%	112.80%	119.89%	100.89%	99.74%	96.23%

Frequently Asked Questions About Lam Research's Financials

When does Lam Research's financial year end?

According to the most recent income statement we have on file, Lam Research's fiscal year ends in June. Their fiscal year 2024 ended on June 30, 2024.

How has Lam Research's net income changed over the last 9 years?

Lam Research's net income appears to be on an upward trend, with a most recent value of $3.83 billion in 2024, rising from $655.58 million in 2015. The previous period was $4.51 billion in 2023.

What is Lam Research's operating income?

Lam Research's total operating income in 2024 was $4.26 billion, based on the following breakdown:

Total Gross Profit: $7.05 billion
Total Operating Expenses: $2.79 billion

How has Lam Research revenue changed over the last 9 years?

Over the last 9 years, Lam Research's total revenue changed from $5.26 billion in 2015 to $14.91 billion in 2024, a change of 183.4%.

How much debt does Lam Research have?

Lam Research's total liabilities were at $10.21 billion at the end of 2024, a 3.5% decrease from 2023, and a 153.9% increase since 2015.

How much cash does Lam Research have?

In the past 9 years, Lam Research's cash and equivalents has ranged from $1.50 billion in 2015 to $5.85 billion in 2024, and is currently $5.85 billion as of their latest financial filing in 2024.

How has Lam Research's book value per share changed over the last 9 years?

Over the last 9 years, Lam Research's book value per share changed from 32.23 in 2015 to 65.32 in 2024, a change of 102.6%.

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This page (NASDAQ:LRCX) was last updated on 4/15/2025 by MarketBeat.com Staff

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Lam Research (LRCX) Financials

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Lam Research (LRCX) Financials

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