NASDAQ: LRCX · Semiconductor Materials & Equipment
Lam Research
Lam Research, incorporated in 1980 and based in Fremont, California, makes wafer fabrication equipment — deposition, etch and clean systems — and provides spares, upgrades and services for its installed base. Fiscal 2026 revenue (year ended June 28, 2026) rose 26% to $23,233 million, driven by foundry customers: systems revenue was $14,885 million and customer support-related revenue $8,347 million. Gross margin rose to 50.5% and net income to $7,265 million. China was 34% of revenue, Taiwan 22% and Korea 19%; four customers each provided 12–16% of revenue. Lam returned $3.85 billion through buybacks and $1.27 billion in dividends in fiscal 2026, and did a ten-for-one stock split in October 2024. Its main competitors are Applied Materials, Tokyo Electron, Hitachi, ASM International, Screen and Semes.
Last updated
Analysis last edited: October 28, 2026 · Financial data fetched: October 27, 2026 16:01 (SEC EDGAR) · Source 10-K filed: August 7, 2026
Built on10-K FY2026 · filed 2026-08-0710-Q (quarter ended 2026-09-27) · filed 2026-10-22Proxy statement (2026)
Next update expectedAfter FY2027’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
01
At a glanceFrom SEC data
Eight headline measures, each placed among the companies covered on this site.
- Revenue growthCAGRSmooths out year-to-year swings into "grew X% a year on average." Makes growth pace comparable across companies of very different sizes.
- 9.7%
- Operating marginOperating marginHow many cents of operating profit are left per dollar of revenue. Reflects pricing power and cost structure.
- 35.3%
- ROIC minus WACCROIC − WACC spreadThe difference between ROIC and WACC. Consistently positive implies value creation; consistently negative implies value destruction.
- +33.2 pts
- Net debt ÷ EBITDAEBITDAOperating income with D&A added back. A rough proxy for cash-generating power that’s less distorted by capital intensity, depreciation method, or financing/tax differences than net income.
- -0.2x
- Cash conversionOperating CF ÷ net income (cash conversion)How much of reported profit shows up as actual cash. 1x or higher means profit is backed by cash.
- 0.81x
- Dividend raisesDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year).
- 5 of 5
- P/E todayP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing.
- 34.3x
- Betaβ (beta)How much a stock moves, on average, for a 1% move in the overall market. Above 1 means more volatile than the market, which raises the return shareholders require. This site computes it from about 2.5 years (roughly 130 weeks) of weekly returns, built from Yahoo Finance daily prices, regressed against an S&P 500 ETF (SPY) as the market proxy, then applies the well-known long-run mean-reversion adjustment (0.67 × β + 0.33) as the WACC default.
- 1.72
Higher than 62% of 372 non-financial companies
Average yearly growth over the years shown
Higher than 87% of 311 non-financial companies
Latest fiscal year (FY2026)
Higher than 94% of 311 non-financial companies
Return on capital above (or below) its estimated cost
Higher than 18% of 304 non-financial companies
Below 0 means more cash than debt
Higher than 4% of 349 non-financial companies
Operating cash flow ÷ net income
Years the dividend per share rose, of the last 5
Latest close 2026-11-04; trailing 12 months to 2026-09-27
Above 1 = moves more than the market
Each marker shows where this company sits among the non-financial companies covered on this site, not all listed companies (left = lowest, right = highest). A high position is not automatically good — for net debt ÷ EBITDA, higher means more debt. Details and formulas are in the sections below and in How to read this.
02
Valuation todayFrom SEC data
Price-based measures at the latest close, next to the same measures at the last fiscal year-end.
Share price$231.59close on 2026-11-04
Market cap$289.78B
- P/EP/EShare price ÷ EPS — how many years of current earnings the stock price represents. This site uses the period-end figure as reported in the filing. today
- 34.3x
- P/BP/BShare price ÷ book value per share. Below 1x means the market values the company below its accounting net worth. This site uses the closing price nearest the fiscal year-end and highlights sub-1x readings. today
- 23.2x
- EV/EBITDAEV/EBITDAEnterprise value (≈ market cap + interest-bearing debt − cash) as a multiple of EBITDA — roughly, "how many years of EBITDA to buy the whole company." Lower is generally viewed as cheaper, and it’s more comparable than P/E across companies with different debt loads or depreciation policies. This site excludes noncontrolling interests from the EV calculation. today
- 33.3x
- FCF yieldFree cash flow (FCF)Operating CF minus capital expenditures — cash generated by the business after funding its own investment, available for dividends, buybacks, acquisitions, or debt paydown. Acquisitions and securities purchases (also in investing CF) are not subtracted, so FCF can be positive in a year when total investing CF exceeds operating CF. today
- 1.7%
- Dividend yieldDividend per shareTotal annual dividend paid per share (sum of all declared payments for the year). today
- 0.4%
At FY2026 year-end: 65.8x
Earnings: trailing 12 months to 2026-09-27
At FY2026 year-end: 38.0x
Book value at FY2026 year-end
At FY2026 year-end: 54.7x
EBITDA for FY2026
At FY2026 year-end: 1.0%
Free cash flow for FY2026
Dividends per share for FY2026
“Today” uses the latest closing price (2026-11-04, Yahoo Finance daily closing prices) and shares outstanding at the last fiscal year-end. The rest of this page — including the financial table and ROIC vs. WACC — uses fiscal year-end prices. These are reference figures, not a judgment of whether the stock is cheap or expensive.
03
What changed since last earningsFrom SEC data
The latest reported quarter against the same quarter a year earlier, the balance sheet against the previous quarter-end, and what management said in its latest earnings release.
Quarter ended Sep 27, 2026.
- Revenue$5.32B → $8.22B (vs. a year earlier)↑ +54.4%$5.32B → $8.22B (vs. a year earlier)
- Operating margin34.4% → 40.0% (vs. a year earlier)↑ +5.6 pts34.4% → 40.0% (vs. a year earlier)
- Net income$1.57B → $2.75B (vs. a year earlier)↑ +75.5%$1.57B → $2.75B (vs. a year earlier)
- Diluted EPS$1.24 → $2.19 (vs. a year earlier)↑ +76.6%$1.24 → $2.19 (vs. a year earlier)
- Cash$5.58B → $7.44B (vs. previous quarter-end)↑ +33.3%$5.58B → $7.44B (vs. previous quarter-end)
Source: Form 10-Q ↗ (SEC XBRL). Long-term debt is the tagged long-term debt figure and leaves out short-term borrowings.
From the earnings release of Oct 21, 2026.
Key changes
Revenue $8.22B, gross margin 52.3%. Source sentence
For the September 2026 quarter, revenue was $8.22 billion, gross margin was $4.30 billion, or 52.3% of revenue, operating expenses were $1.02 billion, operating margin was 40.0%, and net income was $2.75 billion, or $2.19 per diluted share on a U.S.
GAAP operating margin 40.0%. Source sentence
GAAP operating margin as a percent of revenue of 40.0%, and U.S.
Written by AI. A line appears only if its figures and direction match the quoted sentence, which an automatic check confirms. Companies' outlooks are their own and may not be met. Read the release ↗
04
Company profileFrom SEC dataShow
- Legal name
- LAM RESEARCH CORP
- Headquarters
- FREMONT, CA
- Incorporated in
- Delaware
- Fiscal year end
- 06/27
- Exchange & ticker
- NASDAQ: LRCX
- Industry
- Semiconductor Materials & Equipment
- CIK
- 707549
Workforce (as of FY2026 year-end)
Employees
23,300
Source: Form 10-K (FY2026) cover page and business description
05
Earnings calendarFrom SEC dataShow
When the company reports each quarter: the quarter-end date, the day results were released, and when the 10-Q or 10-K was filed.
Next report
Q2 FY2027
Quarter end: December 2026. In past years, Q2 results were released 31 days after quarter end (Jan 28, 2026; Jan 29, 2025; Jan 24, 2024). No date has been announced in the sources this site uses.
Reporting pattern
- Fiscal year ends around June 27.
- Reports four times a year: three quarterly reports (10-Q) and an annual report (10-K) for Q4.
- Earnings releases came 24–31 days after quarter end over the last 12 quarters.
| Quarter | Quarter ended | Earnings release (8-K) | Report filed (10-Q / 10-K) |
|---|---|---|---|
| Q1 FY2027 | Sep 27, 2026 | Oct 21, 2026 (+24 days) | Oct 22, 2026 10-Q (+25 days) |
| Q4 FY2026 | Jun 28, 2026 | Jul 29, 2026 (+31 days) | Aug 7, 2026 10-K (+40 days) |
| Q3 FY2026 | Mar 29, 2026 | Apr 22, 2026 (+24 days) | Apr 23, 2026 10-Q (+25 days) |
| Q2 FY2026 | Dec 28, 2025 | Jan 28, 2026 (+31 days) | Jan 29, 2026 10-Q (+32 days) |
| Q1 FY2026 | Sep 28, 2025 | Oct 22, 2025 (+24 days) | Oct 24, 2025 10-Q (+26 days) |
| Q4 FY2025 | Jun 29, 2025 | Jul 30, 2025 (+31 days) | Aug 11, 2025 10-K (+43 days) |
| Q3 FY2025 | Mar 30, 2025 | Apr 23, 2025 (+24 days) | Apr 25, 2025 10-Q (+26 days) |
| Q2 FY2025 | Dec 29, 2024 | Jan 29, 2025 (+31 days) | Jan 31, 2025 10-Q (+33 days) |
| Q1 FY2025 | Sep 29, 2024 | Oct 23, 2024 (+24 days) | Oct 28, 2024 10-Q (+29 days) |
| Q4 FY2024 | Jun 30, 2024 | Jul 31, 2024 (+31 days) | Aug 29, 2024 10-K (+60 days) |
| Q3 FY2024 | Mar 31, 2024 | Apr 24, 2024 (+24 days) | Apr 29, 2024 10-Q (+29 days) |
| Q2 FY2024 | Dec 24, 2023 | Jan 24, 2024 (+31 days) | Jan 29, 2024 10-Q (+36 days) |
Source: SEC EDGAR filing history. Release dates are the dates the earnings release was furnished to the SEC on Form 8-K (Item 2.02), which is normally the day results are announced. For a quarter whose 10-Q or 10-K isn’t filed yet, the date is the latest Item 2.02 8-K since the previous report, which may be a preliminary or other results-related update. Fiscal years are labeled by the calendar year in which they end.
06
Flagship products & servicesSite analysis
Systems
Etch
Conductor and dielectric etch systems.
Systems
Deposition
ALD, PECVD and other deposition systems.
Systems
Clean
Wet clean equipment.
Customer support
Spares, services and upgrades
Recurring support for the installed base.
From the Form 10-K, FY2026, year ended 2026-06-28.
U.S. and worldwide share of flagship products/services
The 10-K cites leadership in deposition, etch and clean but gives no market-share figures.
Reviewed: Form 10-K (FY2026, year ended 2026-06-28) · Form 10-Q (quarter ended 2026-09-27)
07
Recent strategic focusSite analysis
Recent developments.
Foundry-led growth
Fiscal 2026 growth was driven by foundry customer spending and customer support.
Source: Form 10-K (FY2026, year ended 2026-06-28)
Stock split
Ten-for-one stock split effective October 2024.
Source: Form 8-K (2024-10-02) — Items 3.03/5.03 ten-for-one stock split
September 2026 quarter
Net income $2,753M versus $2,277M; diluted EPS $2.19 versus $1.81.
Source: Form 10-Q (quarter ended 2026-09-27)
Capex ÷ D&A (FY2026)
2.19x
Well above depreciation — expansion-stage investment
formulacapital expenditures ÷ depreciation & amortization
e.g.$966M ÷ $442M = 2.19x
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
R&D-to-revenue ratio (FY2026)
10.2%
formularesearch & development expense ÷ revenue × 100
e.g.$2,376M ÷ $23,233M × 100 = 10.2%
M&A spend (6-year total)
$120M
Latest year: $0
Cash-flow-statement spending on acquisitions, net of cash acquired
Where the money goes, over time
Unit: $M. Capex went from $349M in FY2021 to $966M in FY2026
- Capex
- R&D
- M&A spend
formulacapital expenditures ÷ depreciation & amortization
termsCapital expenditures (capex) · Depreciation & amortization (D&A)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
08
Key figures at a glanceFrom SEC data
FY2021–FY2026, 6 years.
Revenue (FY2026)
$23.23B
As reported in the 10-K
Revenue CAGR (5 years)
+9.7%▲favorable
formula(last-period revenue ÷ first-period revenue) ^ (1 ÷ years) − 1
e.g.($23,233M ÷ $14,626M) ^ (1÷5) − 1 = 9.7%
termsCAGR · ^ (exponent) · Revenue (net sales)
Operating margin (FY2026)
35.3%▲favorable
+4.7pt vs. 5 years ago
formulaoperating income ÷ revenue × 100
e.g.$8,200M ÷ $23,233M × 100 = 35.3%
ROE (FY2026)
65.1%▲favorable
6-year average: 61.8%
As reported in the 10-K
P/B (FY2026 end)
38.04x
formulafiscal year-end closing price ÷ book value per share
e.g.$379.09 ÷ $9.97 = 38.04x
Period-end (fiscal year-end) value, not today's P/B
EV/EBITDA (FY2026 end)
54.7x
formula(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization)
e.g.($474,347M + $3,722M − $5,579M) ÷ ($8,200M + $442M) = 54.7x
termsEV/EBITDA · Market capitalization · Interest-bearing debt · EBITDA · Depreciation & amortization (D&A)
Period-end (fiscal year-end) value, not today's multiple
- ▲
Revenue grew +9.7% a year over 5 years (strong growth)
From $14.63B in FY2021 to $23.23B in FY2026. The annualized rate (CAGR) makes it possible to compare growth pace across companies of different sizes.
- ▲
Operating margin improved: 30.6% → 35.3%
How much operating profit is left per $100 of revenue. It moved +4.7 points over 5 years — pricing power, cost control, and product mix all show up here.
- ▲
Equity ratio is 53.0% (a high level of financial stability)
The share of total assets funded by equity rather than debt. 50%+ is often read as low bankruptcy risk, though the right level varies by industry (real estate and leasing run lower, for instance).
- ▲
Free cash flow was positive in 6 of 6 years
Operating cash flow minus capital expenditures: the cash left over after funding the business’s own investment, available for dividends, buybacks, acquisitions, or debt paydown. A negative year can mean heavy investment, or weak core earnings — worth distinguishing.
- ▲
ROE averaged 61.8% over 6 years (latest: 65.1%)
How much profit was generated on shareholders’ equity. Roughly 10%+ is often cited as solid for a U.S. company, though this varies a lot by industry and capital intensity.
09
Business modelSite analysis
Business Model Canvas
The whole company in nine blocks. Left side: how it delivers (partners, activities, resources, costs). Right side: who it serves and how it earns. Every entry comes from the company’s filings shown on this page.
08 · who helps
Key partners
No partners or suppliers named in the filings.
07 · what it does
Key activities
- Systems: deposition, etch, clean
- Customer support: spares, services, upgrades
06 · what it draws on
Key resources
- About 23,300 employees (over 26% in R&D)
- Manufacturing in California, Oregon, Ohio, Austria, Korea, Malaysia and Taiwan
- Process technology IP
02 · why customers buy
Value propositions
- Deposition, etch and clean equipment with differentiated technologies for advanced chip structures.
04 · how it keeps them
Customer relationships
- Comprehensive support programs and close working relationships; recurring spares, upgrades and service.
03 · how it reaches them
Channels
- Direct sales and service focused on long-term relationships with chipmakers.
01 · who it serves
Customer segments
- Foundry, memory and logic chipmakers; four customers each 12–16% of FY2026 revenue
09 · where money goes
Cost structure
FY2026, share of revenue ($23.23B)
- Cost of revenue49.5%
- Research & development10.2%
- Selling, general & administrative4.9%
Operating profit left: 35.3% of revenue. Depreciation & amortization (inside the costs above): $442M. Capital spending: $966M.
Source: Form 10-K income statement and cash-flow statement (SEC XBRL).
05 · how money comes in
Revenue streams
- Systems $14,885M (FY2026)
- Customer support-related and other $8,347M
Value propositions, channels and customer relationships: Form 10-K (FY2026)
Sells deposition, etch and clean equipment to memory, foundry and logic chipmakers and earns recurring revenue from spares, upgrades and services across its installed base.
01 what it draws on
Inputs & resources
- About 23,300 employees (over 26% in R&D)
- Manufacturing in California, Oregon, Ohio, Austria, Korea, Malaysia and Taiwan
- Process technology IP
02 what it does
Activities
- Systems: deposition, etch, clean
- Customer support: spares, services, upgrades
03 who it serves
Customers
- Foundry, memory and logic chipmakers; four customers each 12–16% of FY2026 revenue
04 how money comes in
How it earns
- Systems $14,885M (FY2026)
- Customer support-related and other $8,347M
How the business makes money
- Revenue by region FY2026: China 34%, Taiwan 22%, Korea 19%, Japan 9%, U.S. 7%.
- Gross margin 50.5% in fiscal 2026.
- Quarterly dividend $0.26 in fiscal 2026.
Government & regulation around the business
Non-market factors from the company’s filings: what governments and regulators fund, buy, set, approve or restrict, and which part of the flow above each one touches.
China is Lam’s largest market and is shaped by U.S. export rules.
Trade & export rules
China export rules
Customers in China were about 34% of revenue in fiscal 2026 and 2025 (42% in fiscal 2024); U.S.–China trade actions affect what Lam can ship.
Constrains the businessTouches: Customers · How it earnsSource: Form 10-K (FY2026)
Environmental rules
PFAS restrictions
Proposed rules could require moving away from products containing PFAS chemicals, affecting costs and operations.
Constrains the businessTouches: Inputs & resources · ActivitiesSource: Form 10-K (FY2026)
Revenue by segment (FY2026)
Unit: $M — bar length = revenue, (%) = share of total company revenue
Systems
14,885.5 (64%)Customer support-related and other
8,347.2 (36%)
Source: Form 10-K (FY2026, year ended 2026-06-28) Revenue by type; one reportable segment. Total $23,233M.
10
Where it earnsSite analysis
Many U.S.-listed companies earn most of their revenue outside the U.S. — this breaks down revenue by country/region so it's clear where the business actually makes its money.
Largest market (FY2026)
China — 34% of revenue
Revenue by country / region (FY2026)
Unit: $M — bar length = revenue, (%) = share of total company revenue
China
7,899 (34%)Taiwan
5,111 (22%)Korea
4,414 (19%)Japan
2,091 (9%)United States
1,626 (7%)Southeast Asia
1,394 (6%)Europe
697 (3%)
Source: Form 10-K (FY2026, year ended 2026-06-28) Approximate: computed from the 10-K’s regional revenue percentages.
11
Contract structureSite analysisShow
Short-term or spot sales carry different earnings quality than long-term or auto-renewing contracts — this shows how the company actually contracts with its customers.
12
Customers & suppliersSite analysis
Who the company sells to and buys from. Companies rarely name either, so named counterparties come only from the company's own filings and press releases; otherwise this lists the concentration figures the 10-K discloses.
Customers
Semiconductor chipmakers in Asia, the U.S. and Europe.
Named by the company
Four customers accounted for about 16%, 15%, 12% and 12% of fiscal 2026 revenue; the 10-K does not name them.
Suppliers
Component and subassembly suppliers.
Named by the company
No material supplier is named.
13
Competitors & peersSite analysis
Competitors the 10-K names, and the peer group the company itself chose in its proxy statement. Nothing here is this site's own pick.
The 10-K names its main competitors by market.
Competitors named in the 10-K
Etch
- Applied Materialssite ↗
- Hitachisite ↗
- Tokyo Electronsite ↗
Peer group the company chose
Compensation peer group, from the proxy statement. Peers are companies the board considers comparable — for example when setting executive pay — not necessarily direct competitors.
Peer group from the 2026 proxy statement.
- Analog Devicessite ↗
- Agilent Technologiessite ↗
- Advanced Micro Devicessite ↗
- Applied Materialssite ↗
- Broadcomsite ↗
- Cisco Systemssite ↗
- Corningsite ↗
- Intelsite ↗
- KLA Corporationsite ↗
- Marvell Technologysite ↗
- Microchip Technologysite ↗
- Micron Technologysite ↗
- NVIDIAsite ↗
- NXP Semiconductorssite ↗
- Qualcommsite ↗
- Texas Instrumentssite ↗
Company names link to this site’s analysis where one exists; “site ↗” opens the company’s own website.
14
Six years of financialsFrom SEC data
Each chart's axis holds a single unit (never mixing dollars, %, and $/share). The table's per-period header links to the filing the numbers came from.
Revenue over time
Unit: $M
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
Profit over time (operating → net)
Unit: $M
- Operating income
- Pretax income
- Net income
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
Margins over time
Unit: %
- Operating margin
- Net margin
formulaoperating income ÷ revenue × 100
formulanet income attributable to the company ÷ revenue × 100
Cash flow over time
Unit: $M (below zero = cash went out)
- Operating CF
- Investing CF
- Free CF
formulacash flow from operations − capital expenditures
termsFree cash flow (FCF) · Cash flow from operations (operating CF) · Capital expenditures (capex)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
Financial stability & capital efficiency
Unit: %
- Equity ratio
- ROE
formulatotal equity ÷ total assets × 100 (as reported in the 10-K)
termsStockholders’ equity · Total assets
formulanet income ÷ average equity (beginning + ending, ÷2) × 100 (as reported in the 10-K)
termsNet income (attributable to the company) · Stockholders’ equity
Earnings per share (EPS) and dividend per share
Unit: $
- EPS
- Dividend per share
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
| Line item | FY202110-K on EDGAR ↗ | FY202210-K on EDGAR ↗ | FY202310-K on EDGAR ↗ | FY202410-K on EDGAR ↗ | FY202510-K on EDGAR ↗ | FY202610-K on EDGAR ↗ |
|---|---|---|---|---|---|---|
| Income statement ($M) | ||||||
| Revenue | 14,626 | 17,227 | 17,429 | 14,905 | 18,436 | 23,233 |
| Operating income | 4,482 | 5,382 | 5,175 | 4,264 | 5,901 | 8,200 |
| Pretax income | 4,371 | 5,193 | 5,109 | 4,360 | 5,958 | 8,262 |
| Net income (attributable) | 3,908 | 4,605 | 4,511 | 3,828 | 5,358 | 7,265 |
| Revenue growthcalc(this year’s revenue − last year’s revenue) ÷ last year’s revenue × 100 | — | 17.8% | 1.2% | -14.5% | 23.7% | 26.0% |
| Operating margincalcoperating income ÷ revenue × 100 | 30.6% | 31.2% | 29.7% | 28.6% | 32.0% | 35.3% |
| Net margincalcnet income attributable to the company ÷ revenue × 100 | 26.7% | 26.7% | 25.9% | 25.7% | 29.1% | 31.3% |
| Balance sheet ($M) | ||||||
| Total assets | 15,892 | 17,196 | 18,782 | 18,745 | 21,345 | 23,530 |
| Total equity | 6,027 | 6,278 | 8,210 | 8,539 | 9,862 | 12,471 |
| Interest-bearing debtSum of short- and long-term borrowings, notes/bonds payable | 4,961 | 4,962 | 4,965 | 4,967 | 4,469 | 3,722 |
| Equity ratio | 37.9% | 36.5% | 43.7% | 45.6% | 46.2% | 53.0% |
| ROE | 64.8% | 74.8% | 62.3% | 45.7% | 58.2% | 65.1% |
| Cash flow ($M) | ||||||
| Operating CF | 3,588 | 3,100 | 5,179 | 4,652 | 6,173 | 5,858 |
| Investing CF | 73 | 612 | -535 | -371 | -708 | -922 |
| Financing CF | -4,167 | -4,579 | -2,831 | -3,996 | -4,937 | -5,718 |
| Free cash flowcalccash flow from operations − capital expenditures | 3,239 | 2,554 | 4,677 | 4,256 | 5,414 | 4,891 |
| Cash and equivalents | 4,418 | 3,522 | 5,337 | 5,848 | 6,391 | 5,579 |
| Per share & other | ||||||
| EPS ($) | 2.69 | 3.28 | 3.32 | 2.90 | 4.15 | 5.76 |
| BVPS ($) | 4.23 | 4.58 | 6.16 | 6.55 | 7.77 | 9.97 |
| Dividend per share ($) | 0.52 | 0.60 | 0.69 | 0.80 | 0.92 | 1.04 |
| Payout ratiocalcdividend per share ÷ diluted EPS × 100 | 19.3% | 18.3% | 20.8% | 27.6% | 22.2% | 18.1% |
| P/E (x) | 23.4 | 13.8 | 18.3 | 36.7 | 23.4 | 65.8 |
| EV/EBITDA (x)calc(market cap + interest-bearing debt − cash and equivalents) ÷ (operating income + depreciation & amortization) | 18.9 | 11.0 | 14.6 | 29.8 | 19.3 | 54.7 |
| P/B (x)calcfiscal year-end closing price ÷ book value per share | 14.91 | 9.82 | 9.88 | 16.26 | 12.51 | 38.04 |
P/B and EV/EBITDA use each period’s period-end (fiscal year-end) figures, not the current share price. Figures without a "calc" tag are as reported in the Form 10-K (the consolidated financial statements and, for older years, earlier 10-Ks), pulled automatically from SEC EDGAR. Where a later filing restated a prior period, the restated figure is used.
Last 8 quarters
Three-month figures from 10-Q filings. Change is versus the same quarter a year earlier. Newest quarter on top.
| Quarter ended | Revenue | Operating income | Net income | Diluted EPS |
|---|---|---|---|---|
| 2026-09-27 | $8.22B+54.4% | $3.28B+79.5% | $2.75B+75.5% | $2.19 |
| 2026-06-28 † | $6.72B+30.0% | $2.51B+44.4% | $2.28B+32.4% | — |
| 2026-03-29 | $5.84B+23.8% | $2.05B+31.1% | $1.83B+37.2% | $1.45 |
| 2025-12-28 | $5.34B+22.1% | $1.81B+35.7% | $1.59B+33.8% | $1.26 |
| 2025-09-28 | $5.32B | $1.83B | $1.57B | $1.24 |
| 2025-06-29 † | $5.17B | $1.74B | $1.72B | — |
| 2025-03-30 | $4.72B | $1.56B | $1.33B | $1.03 |
| 2024-12-29 | $4.38B | $1.33B | $1.19B | $0.92 |
† Fourth quarter = the 10-K’s annual figure minus the first three quarters; quarterly EPS isn’t derived this way because share counts change during the year.
15
Is ROIC above WACC?From SEC data
ROIC (the return on money invested in the business) above WACC (the cost of raising that money) means the company is creating value. WACC is an estimate, so its assumptions can be adjusted below.
ROIC (FY2026)
47.5%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
e.g.$8,200M × (1 − 11.5%) ÷ $15,262M × 100 = 47.5%
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
WACC (this site’s estimate)
14.33%
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
e.g.Equity weight: $474.35B ÷ ($474.35B + $3.72B) = 99.2%
e.g.Debt weight: $3.72B ÷ ($474.35B + $3.72B) = 0.8%
e.g.WACC: 14.4% × 99.2% + 4.2% × (1 − 11.5%) × 0.8% = 14.33%
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
How firm is this? With the equity risk premium ±1 point and beta ±0.2, WACC runs 11.7%–17.3% and ROIC − WACC runs +30.2 to +35.8 points. The sign holds across this range. This describes the latest year and does not predict future value creation.
WACC 14.33% is this site’s estimate under the assumptions below (not a figure the company has published)
- Risk-free rate
- 4.95% (10-year Treasury, 2026-11-03)
- β
- 1.72 (price-derived adjusted beta)
- Equity risk premium
- 5.5%
- Cost of equity
- 14.41%
- Cost of debt
- 4.19%
- Tax rate
- 11.5% (effective rate, FY2024–FY2026)
- Capital structure (equity : debt)
- 99% : 1%
ROIC over time, vs. WACC
Unit: % — bars = each period's ROIC, horizontal line = latest WACC. Bars above the line are green, below are red
- ROIC (above WACC)
- ROIC (below WACC)
- WACC 14.33%
formulaoperating income × (1 − tax rate) ÷ invested capital × 100 *invested capital = interest-bearing debt + total equity (average of beginning/ending)
termsOperating income · Effective tax rate · Invested capital · Interest-bearing debt · Total equity
formulacost of equity × equity weight + cost of debt × (1 − tax rate) × debt weight
termsCost of equity · Equity weight (E/(D+E)) · Cost of debt · (1 − tax rate) · Debt weight (D/(D+E)) · Market capitalization
Try different WACC assumptions
β and the equity risk premium are estimates with a real range of plausible values — move the sliders to check whether ROIC > WACC still holds. The risk-free rate starts at the 10-year Treasury yield on 2026-11-03 (U.S. Treasury).
Initial β: 1.72 (price-derived adjusted beta. Raw β 2.08, R² 0.35, 130 weeks)
formula0.67 × β + 0.33 (β = the slope of weekly stock returns regressed on weekly market returns)
e.g.0.67 × 2.078 + 0.33 = 1.723
termsβ (beta)
Period 2024-05-10–2026-11-04, using S&P 500 ETF (SPY) as the market proxy. Source: Yahoo Finance price history.
formularisk-free rate + β × equity risk premium
e.g.5.0% + 1.72 × 5.5% = 14.4%
termsCAPM · Risk-free rate · β (beta) · Equity risk premium (market risk premium)
formulafiscal year-end closing price × shares outstanding (= market cap)
formulainterest expense ÷ interest-bearing debt × 100 (clamped to 0–10%; falls back to the risk-free rate if there’s no debt)
16
What the price implies (DCF)From SEC data
A company's value can be written as its free cash flow divided by (cost of capital − perpetual growth). Working that backwards from the market's valuation shows how much growth the share price assumed — compared here with the company's actual past growth.
Growth the price implies (price on 2026-11-04)
12.6%
Perpetual FCF growth: g = r − FCF ÷ EV = 14.3% − 1.7%
Past FCF growth (FY2021–FY2026)
+8.6%
Compound annual rate, 5 years
Past revenue growth (FY2021–FY2026)
+9.7%
Compound annual rate, 5 years
Inputs (FY2026): free cash flow $4.89B (operating CF − capex); enterprise value $287.93B = market cap $289.78B (latest close, 2026-11-04) + debt $3.72B − cash and short-term investments $5.58B; r = WACC of 14.3% using this page’s default assumptions (β 1.72, risk-free 5.0%, market premium 5.5%).
Three WACC scenarios
The same calculation under cautious, base and optimistic cost-of-capital assumptions (risk-free rate fixed at the 10-year Treasury yield). Pick one to load it into the sliders below.
Try your own assumptions
V = FCF ÷ (r − g). It starts at the implied growth rate, where the theoretical value equals today’s enterprise value.
Theoretical enterprise value
$212.66B
FCF $4.89B ÷ (14.3% − 12.0%)
Theoretical ÷ actual enterprise value
0.74x
Below 1x: these assumptions value the business below the market did
How sensitive the answer is
Theoretical ÷ actual enterprise value for each combination of r and g.
| g \ r | 12.3% | 13.3% | 14.3% | 15.3% | 16.3% |
|---|---|---|---|---|---|
| 0% | 0.14x | 0.13x | 0.12x | 0.11x | 0.10x |
| 2% | 0.16x | 0.15x | 0.14x | 0.13x | 0.12x |
| 4% | 0.20x | 0.18x | 0.16x | 0.15x | 0.14x |
| 6% | 0.27x | 0.23x | 0.20x | 0.18x | 0.16x |
| 8% | 0.40x | 0.32x | 0.27x | 0.23x | 0.20x |
A simplified model for seeing what the market price assumes, not a forecast or a target price. It treats free cash flow as growing at one constant rate forever; the result swings widely with small changes in r and g, and is undefined when g reaches r. Free cash flow here is operating cash flow minus capex, which is after interest — a full DCF of enterprise value would use cash flow before interest. Market cap uses the latest close (2026-11-04) × shares at fiscal year-end; free cash flow and WACC inputs are from the latest fiscal year.
17
Earnings qualityFrom SEC dataShow
The same reported profit can mean different things depending on whether it's backed by cash, driven by the core business, or the result of a one-off item. Four checks below.
- !
Operating CF ÷ net income: averages 0.99x
Cash coming in trails reported profit. Worth checking for rising receivables/inventory or one-off gains.
- !
Accrual ratio (latest): 6.3%
A larger share of profit is non-cash accruals, which research associates with profit that tends to fade in later periods.
- ✓
Core-earnings share (operating income ÷ pretax income): 99%
Most profit comes from core operations.
- ✓
Days sales outstanding: 76 → 68 days
No major slowdown in collecting on sales.
Operating CF vs. net income
Unit: $M — operating CF above net income means profit is backed by cash
- Operating CF
- Net income
formulacash flow from operations ÷ net income attributable to the company
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formula(net income − operating CF) ÷ average total assets × 100
termsNet income (attributable to the company) · Cash flow from operations (operating CF) · Total assets
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
Profit bridge (FY2026)
Unit: $M — what moved profit from operating income to net income
- Profit (each stage)
- Pushed profit up
- Pushed profit down
formulaoperating income ÷ income before income taxes × 100
termsOperating income · Income before income taxes (pretax income)
Source: each period's Form 10-K (SEC EDGAR). Latest: filed 2026-08-07
Receivables & inventory days
Unit: days — days grow when receivables or inventory build up faster than sales
- Days sales outstanding
- Days inventory outstanding
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
termsInventory · Cost of revenue (COGS)
Worked examples (latest period)
formulacash flow from operations ÷ net income attributable to the company
e.g.$5,858M ÷ $7,265M = 0.81x
termsCash flow from operations (operating CF) · Net income (attributable to the company)
formulaoperating income ÷ income before income taxes × 100
e.g.$8,200M ÷ $8,262M × 100 = 99%
termsOperating income · Income before income taxes (pretax income)
formulaaverage receivables (opening + closing ÷ 2) ÷ revenue × 365
e.g.($3,378M + $5,340M) ÷ 2 ÷ $23,233M × 365 = 68 days
formulaaverage inventory (opening + closing ÷ 2) ÷ cost of revenue × 365
e.g.($4,308M + $4,276M) ÷ 2 ÷ $11,507M × 365 = 136 days
termsInventory · Cost of revenue (COGS)
18
Who holds the sharesFrom SEC dataShow
How much of the stock large institutional investors report owning on SEC Form 13F, how much the directors and executive officers hold (and how much of the vote they control), and roughly how much is left for individual investors. Shown next to beta so the holder mix can be read alongside how much the stock swings.
Institutions, insiders and everyone else, 13F holdings as of 2026-06-30
“Everyone else” is what remains after shares reported on Form 13F and shares held by directors and executive officers: mostly individual investors, plus non-insider families or foundations and smaller or foreign institutions. The figures have different dates and 13F reports count some shares twice — read it as an approximate split.
- Held by 13F filers
- 85.8%
- Directors & officers (shares)
- <1%
- Everyone else (est.)
- 14.2%
- Directors & officers (voting power)
- <1%
- Institutional-ownership rank
- 253 of 416
- Beta (adjusted)
- 1.72
individuals and other non-13F holders
no separate voting figure; shown as shares
1 = most institutional; 61% of covered companies have more
above 1 = swings more than the market
- 1,074.2M shares reported by 3,101 13F filers ÷ 1,251.3M shares outstanding on 2026-08-04. Option positions are excluded.
- Directors and executive officers as a group, from the proxy statement’s beneficial-ownership table; includes shares they can acquire within 60 days.
- A large “everyone else” share can still reflect a family, trust or foundation stake held outside the board; check the proxy statement’s 5% holders.
Sources: SEC Form 13F data set (holdings as of 2026-06-30) · Form DEF 14A filed 2026-09-24 (beneficial ownership table) · Form 10-K cover page (shares outstanding as of 2026-08-04)
19
Strengths & weaknessesSite analysis
Strengths
1. Strong growth
Revenue rose 26% to $23,233M and net income 36% to $7,265M in fiscal 2026.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
2. High margins
Gross margin 50.5% in fiscal 2026.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
3. Capital returns
$3.85B of buybacks and $1.27B of dividends in fiscal 2026.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
Weaknesses
1. China and export controls
China was 34% of revenue; competitors in more favorable regulatory environments can sell where Lam cannot.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
2. Customer concentration
Four customers each accounted for 12–16% of fiscal 2026 revenue.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
3. Cyclical demand
Revenue fell to $14,905M in fiscal 2024 before recovering.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
20
What draws investors to itSite analysis
Why the stock can look attractive to investors — each point paired with what has to hold for it to stay true, and the opposing view. This is this site's analysis, not a recommendation to buy or sell.
P/E (FY2026)
65.8x
Price at fiscal year-end ÷ diluted EPS
Dividend yield (FY2026)
0.27%
Dividends per share ÷ fiscal year-end price
Payout ratio (FY2026)
18%
Dividends per share ÷ diluted EPS
FCF yield (FY2026)
1.0%
(Operating CF − capex) ÷ market cap
1. Leadership in key steps
The 10-K cites leadership and expertise in deposition, etch and clean markets.
- What has to hold
- Chip capex stays high.
- The other side
- Cyclical industry.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
2. Shareholder returns
Large buybacks and rising dividend.
- What has to hold
- Cash flow stays strong.
- The other side
- China risk.
Evidence: Form 10-K (FY2026, year ended 2026-06-28)
Fiscal years end in late June. FY2021–22 EPS and dividends, and FY2021–23 share counts, are restated by this site to the post-split basis (÷10 / ×10).
21
ResilienceSite analysisShow
How well the company could absorb a bad year: its financial buffer, how its revenue and profit held up in the worst year on record, and what the 10-K says about the business's exposure to shocks. Figures and filing statements only — no overall rating.
1. Financial buffer (FY2026)
Cash & short-term investments ÷ debt due within a year
100x+
$5.58B vs. $147,000
Interest coverage (operating income ÷ interest expense)
52.6x
$8.2B vs. $156M
Free cash flow ÷ dividends paid
3.8x
$4.89B vs. $1.27B (FCF = operating CF − capex)
2. Worst year in the record, and the recovery
| Figure | Worst year-over-year change | Back to the prior level? |
|---|---|---|
| Revenue | -14.5% in FY2024 ($17.43B → $14.91B) | Yes, by FY2025 |
| Operating income | -17.6% in FY2024 ($5.17B → $4.26B) | Yes, by FY2025 |
Covers only the 6 fiscal years on record (FY2021–FY2026), which may not include a full recession — the worst year here isn’t necessarily how the company would fare in a severe downturn.
3. Business resilience (from the 10-K)
Profitable through the cycle
Net income stayed above $3.8B every year fiscal 2021–2026.
Source: Form 10-K (FY2026, year ended 2026-06-28)
22
Legal & regulatory mattersSite analysisShow
Lawsuits, government investigations, enforcement actions and settlements the company discloses — where each stands, what is at stake, and what comes next. From the 10-K's Legal Proceedings and contingencies note, the latest 10-Q, and 8-Ks.
Lam discloses no material legal proceedings.
Company statement:
Based on Form 10-K (FY2026, year ended 2026-06-28), reviewed 2026-10-28. Routine ordinary-course claims are not listed. “Major” is this site’s judgment of which matters could materially affect results.
23
Risks (including geopolitical)Site analysis
Starting from the 10-K's Risk Factors section, organized by category — geopolitical, currency, raw materials, regulatory, disaster, and more — with impact and likelihood assessed by this site.
Risk map
Vertical = impact on results, horizontal = likelihood. Upper right = most severe. Numbers match the list below (placement is this site’s own assessment).
Likelihood →
"Company disclosure" vs. "this site’s assessment"
The description and mitigation for each risk are this site’s summary of the 10-K’s "Risk Factors" section. Impact and likelihood are this site’s own assessment, not the company’s — where the company discloses its own likelihood assessment, that is noted in the summary.
Impact is judged from how large the affected business is relative to total revenue/profit, and from the risk’s track record of moving results in the past. Likelihood is judged from the filing’s wording and the current business environment (already occurring, or recurring). See the rating criteria.
- 1Geopolitics & supply chain
Export controls and China
- Company disclosure (summarized from the 10-K)
- U.S. export controls restrict sales to certain Chinese customers; China is about a third of revenue.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact High / Likelihood High
- 2Demand & macro
Wafer fab equipment cycle
- Company disclosure (summarized from the 10-K)
- Revenue depends on chipmakers’ capital spending.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact High / Likelihood High
- 3Customer/supplier concentration
Customer concentration
- Company disclosure (summarized from the 10-K)
- A few large chipmakers account for most revenue.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 4Competition & technology shift
Competition
- Company disclosure (summarized from the 10-K)
- Competes with Applied Materials, Tokyo Electron, Hitachi, ASM International, Screen, Semes and others.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood High
- 5Law & regulation
Tariffs and trade
- Company disclosure (summarized from the 10-K)
- Trade policies affect costs and customers.
- Company’s stated mitigation
- Not stated in the filings.
- This site’s assessment
- Impact Med / Likelihood Med
24
What changed in the risk factorsFrom SEC data
Paragraphs in the latest 10-K's Risk Factors that have little overlap with the year before, and paragraphs that were dropped.
New or substantially reworded (8)
In addition to the other information in this Annual Report on Form 10-K (“2026 Form 10-K”), the following risk factors should be carefully considered in evaluating us and our business because the occurrence of any of these factors could materially and adversely affect our business, results of operations, financial condition, and price of our Common Stock, and they could cause our actual results to differ materially from those contemplated in any forward-looking statements. Some of the factors, events, and contingencies discussed below may have occurred in the past, but the disclosures below are not representations as to whether or not the factors, events, or contingencies have occurred in the past and instead reflect our beliefs and opinions as to the factors, events, or contingencies that could materially and adversely affect us in the future. The risks and uncertainties described…
For example, the growth of AI technologies and related infrastructure has been and is expected to continue to be a significant driver of capital equipment expenditures of semiconductor manufacturers across both the memory and non-memory market segments we serve. However, customer decisions regarding the amount and timing of capital expenditures and the demand for our products and services could change rapidly and be impacted by factors outside of our control. These factors may include, without limitation: changes in actual or anticipated AI-driven demand for AI-related infrastructure or compute power to support AI models, tools, and other applications, including due to slower-than-anticipated adoption of AI technologies, increases in compute efficiency, or oversupply of AI-related infrastructure compute power; advances in fabrication processes, technology inflections or changes in…
• the impact of stagnating or worsening business and economic conditions, including inflationary pressures, general economic slowdown or a recession, actual or anticipated changes in interest rates, reductions in government spending or other changes in monetary policy, or adverse financial or commodity markets activity or macroeconomic conditions, including as a result of geopolitical conflicts;
• any disruption to our relationship with, or loss of business from, customers, including due to actual or alleged non-compliance with contractual or other customer requirements, applicable laws, rules, or regulations, or breaches of customer trust;
The technology, data, intellectual property and other sensitive information we seek to protect, and the information systems used to store, process, or transmit such information, are subject to loss, unauthorized access, unauthorized release, misappropriation, misuse, disruption, breach, degradation, or failure, any of which could have a material adverse effect on our business or operations. Such events may result from various possible causes, including mistakes or unauthorized actions by our employees, contractors, or other third parties, or cyberattacks or other malicious activities by third parties, including industrial, corporate, or other espionage, criminal hackers, or state-sponsored intrusions, by methods that include exploitation of known or unknown software or hardware vulnerabilities, viruses, malware, ransomware, social engineering (such as phishing schemes), credential…
We Use Artificial Intelligence in Our Business, and Challenges with Properly Managing Its Use Could Result in Reputational Harm, Competitive Harm, and Legal Liability, and Materially and Adversely Affect Our Results of Operations.
We are increasingly using AI tools as part of our business, including internally developed machine learning tools and large language models provided by third parties. Read more
For example, we use or are seeking to use AI tools to enhance research and development, manufacturing, installation, and servicing of our products, services delivery, supply chain management, sales and marketing, and compliance activities. We are also pursuing additional opportunities to incorporate AI tools, including agentic AI, into our business, including our products and services, and we expect this trend to continue. There are significant risks involved in developing and deploying AI, and there can be no assurance that our usage of AI will enhance our business, products or services, including our productivity, operational efficiency, effectiveness, or profitability. For example, if the AI tools we utilize are flawed…
The intellectual property rights, including patent and copyright rights, associated with artificial intelligence have not been fully addressed by U.S. Read more
and foreign courts, and there remains uncertainty and ongoing litigation in different jurisdictions as to the degree and extent of protection warranted for artificial intelligence-generated technologies and relevant system inputs and outputs. The courts and regulators have not clearly defined the scope for artificial intelligence-generated content, algorithms or trained models. If we fail to secure or maintain protection for the intellectual property rights concerning technologies developed using artificial intelligence, or later have our intellectual property rights invalidated or otherwise diminished, our competitors may be able to take advantage of our research and development efforts to develop competing products, which could…
No longer in the text (3)
Epidemics, Pandemics or Outbreaks of Diseases May Adversely Impact Our Business, Operations, and Financial Results
Epidemics, pandemics or outbreaks of diseases may arise at any time and may have significant business, operational, and financial impacts. Read more
For example, the COVID-19 pandemic has in the past and additional global heath crises may in the future result in efforts by national, state and local governments worldwide to control the applicable disease’s spread. Such governmental efforts may result in measures aimed at containing the applicable disease such as quarantines, travel bans, shutdowns, and shelter in place or “stay at home” orders, which collectively have the potential to significantly restrict the ability of businesses to operate. In addition, restrictions resulting from global health crises and related measures aimed at containing the applicable disease, incidents of confirmed or suspected infections within our workforce or those of our suppliers or other business partners, and…
Recommendations made by the Organization for Economic Co-operation and Development’s Base Erosion and Profit Shifting 2.0 (“BEPS 2.0”) project have the potential to lead to changes in the tax laws in numerous countries, including the implementation of a global minimum tax. Several countries around the world have enacted or proposed changes to their existing tax laws based on these recommendations. As each country in which we operate evaluates their alignment with the recommendations and enacts minimum tax rules, the ultimate impact of any such changes on our effective tax rate remains uncertain. When fully enacted, such changes could have a material impact on our effective tax rate. We will continue to monitor the progress of the BEPS 2.0 implementation.
3 more paragraphs differ; the filings below have the full text.
Matched automatically, quoted as filed, and may include rewording of an existing risk. Compares Item 1A of the 10-K filed Aug 7, 2026 ↗ with the 10-K filed Aug 11, 2025 ↗.
25
What to watch going forwardSite analysis
- Foundry and memory capex.
- China revenue under export controls.
- Customer support revenue growth.
26
Source documentsShow
This page's financial figures come from the Form 10-Ks listed below. Check the original filings for full detail.
Last updated
Analysis last edited: October 28, 2026 · Financial data fetched: October 27, 2026 16:01 (SEC EDGAR) · Source 10-K filed: August 7, 2026
Built on10-K FY2026 · filed 2026-08-07Proxy statement (2026)
Next update expectedAfter FY2027’s 10-K is filed (roughly 60–90 days after fiscal year end (sooner for larger filers)), financials and analysis will be refreshed.
This page is this site’s own analysis based on public information, and does not represent Lam Research’s views. It is not a recommendation to buy or sell any security, and this site does not guarantee the accuracy of any figure or statement here. Always verify against the original source documents before making an investment decision.