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Lam Research Corporation

LRCX · Nasdaq · Technology, semiconductor equipment · United States · US GAAP · Fiscal year ends June

Latest report: Q4 FY2026, the quarter ended 28 June 2026, released 7 August 2026. Snapshot FY2026Q4_5cf540ea.

Overview

Revenue, quarter
+30.0% year on year
Operating income, quarter
+44.4% year on year
Net income, quarter
+32.4% year on year
Diluted EPS, quarter
n/aThe annual report gives the fiscal year only
Operating margin, last 4 quarters
+3.3pp year on year
Return on equity, last 4 quarters
+6.8pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

  1. Revenue for the quarter ended 28 June 2026 was US$6.7 billion, 30.0% higher than in the same quarter a year earlier.

    Strengthenedin Q4 FY2026 · stated since Q4 FY2024
    Rule: Revenue against a year earlier · Sources 10-K 2026-06, 10-Q 2026-03
    History of this finding, 9 records
    1. Q4 FY2026 StrengthenedRevenue for the quarter ended 28 June 2026 was US$6.7 billion, 30.0% higher than in the same quarter a year earlier.Recorded from FY2026Q4_3857e593 · data update
    2. Q3 FY2026 StrengthenedRevenue for the quarter ended 29 March 2026 was US$5.8 billion, 23.8% higher than in the same quarter a year earlier.Reconstructed · data update
    3. Q2 FY2026 WeakenedRevenue for the quarter ended 28 December 2025 was US$5.3 billion, 22.1% higher than in the same quarter a year earlier.Reconstructed · data update
    4. Q1 FY2026 WeakenedRevenue for the quarter ended 28 September 2025 was US$5.3 billion, 27.7% higher than in the same quarter a year earlier.Reconstructed · data update
    5. Q4 FY2025 StrengthenedRevenue for the quarter ended 29 June 2025 was US$5.2 billion, 33.6% higher than in the same quarter a year earlier.Reconstructed · data update
    6. Q3 FY2025 StrengthenedRevenue for the quarter ended 30 March 2025 was US$4.7 billion, 24.4% higher than in the same quarter a year earlier.Reconstructed · data update
    7. Q2 FY2025 WeakenedRevenue for the quarter ended 29 December 2024 was US$4.4 billion, 16.4% higher than in the same quarter a year earlier.Reconstructed · data update
    8. Q1 FY2025 WeakenedRevenue for the quarter ended 29 September 2024 was US$4.2 billion, 19.7% higher than in the same quarter a year earlier.Reconstructed · data update
    9. Q4 FY2024 NewRevenue for the quarter ended 30 June 2024 was US$3.9 billion, 20.7% higher than in the same quarter a year earlier.Reconstructed · initial
  2. Net income attributable to the company was US$2.3 billion, 32.4% higher than in the same quarter a year earlier.

    Weakenedin Q4 FY2026 · stated since Q4 FY2024
    Rule: Net income against a year earlier · Sources 10-K 2026-06, 10-Q 2026-03
    History of this finding, 9 records
    1. Q4 FY2026 WeakenedNet income attributable to the company was US$2.3 billion, 32.4% higher than in the same quarter a year earlier.Recorded from FY2026Q4_3857e593 · data update
    2. Q3 FY2026 StrengthenedNet income attributable to the company was US$1.8 billion, 37.2% higher than in the same quarter a year earlier.Reconstructed · data update
    3. Q2 FY2026 WeakenedNet income attributable to the company was US$1.6 billion, 33.8% higher than in the same quarter a year earlier.Reconstructed · data update
    4. Q1 FY2026 WeakenedNet income attributable to the company was US$1.6 billion, 40.5% higher than in the same quarter a year earlier.Reconstructed · data update
    5. Q4 FY2025 StrengthenedNet income attributable to the company was US$1.7 billion, 68.6% higher than in the same quarter a year earlier.Reconstructed · data update
    6. Q3 FY2025 StrengthenedNet income attributable to the company was US$1.3 billion, 37.8% higher than in the same quarter a year earlier.Reconstructed · data update
    7. Q2 FY2025 WeakenedNet income attributable to the company was US$1.2 billion, 24.8% higher than in the same quarter a year earlier.Reconstructed · data update
    8. Q1 FY2025 WeakenedNet income attributable to the company was US$1.1 billion, 25.8% higher than in the same quarter a year earlier.Reconstructed · data update
    9. Q4 FY2024 NewNet income attributable to the company was US$1.0 billion, 27.1% higher than in the same quarter a year earlier.Reconstructed · initial
  3. The operating margin over the last 4 quarters was 35.3%, 3.3 percentage points higher than a year earlier.

    Confirmedin Q4 FY2026 · stated since Q1 FY2025
    Rule: Operating margin against a year earlier · Sources 10-Q 2025-09, 10-Q 2025-12, 10-Q 2026-03 and 1 more
    History of this finding, 10 records
    1. Q4 FY2026 ConfirmedThe operating margin over the last 4 quarters was 35.3%, 3.3 percentage points higher than a year earlier.Recorded from FY2026Q4_3857e593 · data update
    2. Q3 FY2026 WeakenedThe operating margin over the last 4 quarters was 34.3%, 3.4 percentage points higher than a year earlier.Reconstructed · data update
    3. Q2 FY2026 ConfirmedThe operating margin over the last 4 quarters was 33.8%, 4.3 percentage points higher than a year earlier.Reconstructed · data update
    4. Q1 FY2026 StrengthenedThe operating margin over the last 4 quarters was 33.0%, 4.1 percentage points higher than a year earlier.Reconstructed · data update
    5. Q4 FY2025 StrengthenedThe operating margin over the last 4 quarters was 32.0%, 3.4 percentage points higher than a year earlier.Reconstructed · data update
    6. Q3 FY2025 StrengthenedThe operating margin over the last 4 quarters was 30.9%, 2.8 percentage points higher than a year earlier.Reconstructed · data update
    7. Q2 FY2025 StrengthenedThe operating margin over the last 4 quarters was 29.5%, 2.4 percentage points higher than a year earlier.Reconstructed · data update
    8. Q1 FY2025 NewThe operating margin over the last 4 quarters was 28.9%, 0.5 percentage points higher than a year earlier.Reconstructed · data update
    9. Q1 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
    10. Q4 FY2024 NewThe operating margin over the last 4 quarters was 28.6%, 1.1 percentage points lower than a year earlier.Reconstructed · initial
  4. Return on equity over the last 4 quarters was 65.1%, against 58.2% a year earlier.

    Weakenedin Q4 FY2026 · stated since Q2 FY2025
    Rule: Return on equity against a year earlier · Sources 10-K 2026-06, 10-Q 2025-09, 10-Q 2025-12 and 2 more
    History of this finding, 10 records
    1. Q4 FY2026 WeakenedReturn on equity over the last 4 quarters was 65.1%, against 58.2% a year earlier.Recorded from FY2026Q4_3857e593 · data update
    2. Q3 FY2026 WeakenedReturn on equity over the last 4 quarters was 66.8%, against 53.1% a year earlier.Reconstructed · data update
    3. Q2 FY2026 StrengthenedReturn on equity over the last 4 quarters was 65.6%, against 50.4% a year earlier.Reconstructed · data update
    4. Q1 FY2026 StrengthenedReturn on equity over the last 4 quarters was 62.3%, against 49.1% a year earlier.Reconstructed · data update
    5. Q4 FY2025 StrengthenedReturn on equity over the last 4 quarters was 58.2%, against 45.7% a year earlier.Reconstructed · data update
    6. Q3 FY2025 StrengthenedReturn on equity over the last 4 quarters was 53.1%, against 43.9% a year earlier.Reconstructed · data update
    7. Q2 FY2025 NewReturn on equity over the last 4 quarters was 50.4%, against 41.8% a year earlier.Reconstructed · data update
    8. Q2 FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
    9. Q1 FY2025 WeakenedReturn on equity over the last 4 quarters was 49.1%, against 51.4% a year earlier.Reconstructed · data update
    10. Q4 FY2024 NewReturn on equity over the last 4 quarters was 45.7%, against 62.3% a year earlier.Reconstructed · initial
  5. Free cash flow over the last 4 quarters was US$4.9 billion, and operating cash flow was 0.8 times net income attributable to the company.

    Interpretation. Operating cash flow paid for all capital expenditure, and the rest is free for dividends, share buybacks or debt repayment.

    Weakenedin Q4 FY2026 · stated since Q4 FY2024
    Rule: Free cash flow · Sources 10-Q 2025-09, 10-Q 2025-12, 10-Q 2026-03 and 1 more
    History of this finding, 9 records
    1. Q4 FY2026 WeakenedFree cash flow over the last 4 quarters was US$4.9 billion, and operating cash flow was 0.8 times net income attributable to the company.Recorded from FY2026Q4_3857e593 · data update
    2. Q3 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$6.0 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
    3. Q2 FY2026 StrengthenedFree cash flow over the last 4 quarters was US$6.2 billion, and operating cash flow was 1.1 times net income attributable to the company.Reconstructed · data update
    4. Q1 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$5.6 billion, and operating cash flow was 1.1 times net income attributable to the company.Reconstructed · data update
    5. Q4 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$5.4 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · data update
    6. Q3 FY2025 WeakenedFree cash flow over the last 4 quarters was US$3.8 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
    7. Q2 FY2025 WeakenedFree cash flow over the last 4 quarters was US$4.1 billion, and operating cash flow was 1.1 times net income attributable to the company.Reconstructed · data update
    8. Q1 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$4.8 billion, and operating cash flow was 1.3 times net income attributable to the company.Reconstructed · data update
    9. Q4 FY2024 NewFree cash flow over the last 4 quarters was US$4.3 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · initial
  6. Cash and short-term investments exceeded total debt by US$1.8 billion at 28 June 2026.

    Confirmedin Q4 FY2026 · stated since Q4 FY2024
    Rule: Net debt or net cash · Sources 10-K 2026-06
    History of this finding, 10 records
    1. Q4 FY2026 ConfirmedCash and short-term investments exceeded total debt by US$1.8 billion at 28 June 2026.Recorded from FY2026Q4_3a0082fc · correction
    2. Q4 FY2026 StrengthenedCash and short-term investments exceeded total debt by US$1.9 billion at 28 June 2026.Recorded from FY2026Q4_3857e593 · data update
    3. Q3 FY2026 WeakenedCash and short-term investments exceeded total debt by US$1.0 billion at 29 March 2026.Reconstructed · data update
    4. Q2 FY2026 WeakenedCash and short-term investments exceeded total debt by US$1.7 billion at 28 December 2025.Reconstructed · data update
    5. Q1 FY2026 StrengthenedCash and short-term investments exceeded total debt by US$2.2 billion at 28 September 2025.Reconstructed · data update
    6. Q4 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$1.9 billion at 29 June 2025.Reconstructed · data update
    7. Q3 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$966 million at 30 March 2025.Reconstructed · data update
    8. Q2 FY2025 WeakenedCash and short-term investments exceeded total debt by US$683 million at 29 December 2024.Reconstructed · data update
    9. Q1 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$1.1 billion at 29 September 2024.Reconstructed · data update
    10. Q4 FY2024 NewCash and short-term investments exceeded total debt by US$880 million at 30 June 2024.Reconstructed · initial

Records before Q4 FY2026 are reconstructed from the latest snapshot. Ledger: findings.json. Correction of 20 October 2026: Annalist filled the debt and the property, plant and equipment of Lam Research at its fiscal year-ends with lines that leave out finance leases, and at its other dates with lines that include them. Every date now takes the lines with finance leases, which Lam Research reports at every date: long-term debt of US$3.73 billion at 28 June 2026, where US$3.72 billion was published. Dividends per share of 6 fourth quarters derived from the figures of 2 filings are no longer published, among them minus 4.485 for fiscal 2023, the year restated for the stock split of 10 for 1 less 9 months before it. Records 95 to 97 state the corrected findings. Records 6, 7, 8, 11, 45, 46, 50, 82, 83, 88, 90, 91 and 94 cite figures that the correction changed. Correction of 22 October 2026: Changes against a year earlier compared 2 figures of different bases where a stock split, a spin-off or a restatement came between the 2 periods. 4 growth values changed, among them diluted earnings per share growth for fiscal 2023, minus 89.9% before the correction and 1.4% on one basis. No finding states the changes concerned.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents24 documents, latest Form 10-K, period ended 28 June 2026List
DownloadsExcel workbook · JSON
SnapshotFY2026Q4_5cf540ea

Corporate Events

  1. Stock split28 October 2024

    The filing reported a stock split of 10 for 1.

    Source 10-Q 2024-09

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Operating Income

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Net Debt

Total debt less cash and short-term investments, at quarter end, US dollars

Diluted Earnings per Share

By quarter, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Source Documents

Documents of this snapshot, latest first.

DocumentDateId
Form 10-K, period ended 28 June 20267 Aug 202610-K:0000707549-26-000037
Form 10-Q, period ended 29 March 202623 Apr 202610-Q:0000707549-26-000022
Form 10-Q, period ended 28 December 202529 Jan 202610-Q:0000707549-26-000009
Form 10-Q, period ended 28 September 202524 Oct 202510-Q:0000707549-25-000085
Form 10-K, period ended 29 June 202511 Aug 202510-K:0000707549-25-000075
Form 10-Q, period ended 30 March 202525 Apr 202510-Q:0000707549-25-000054
Form 10-Q, period ended 29 December 202431 Jan 202510-Q:0000707549-25-000014
Form 10-Q, period ended 29 September 202428 Oct 202410-Q:0000707549-24-000128
Form 10-K, period ended 30 June 202429 Aug 202410-K:0000707549-24-000106
Form 10-Q, period ended 31 March 202429 Apr 202410-Q:0000707549-24-000067
Form 10-Q, period ended 24 December 202329 Jan 202410-Q:0000707549-24-000016
Form 10-Q, period ended 24 September 202323 Oct 202310-Q:0000707549-23-000115
Form 10-K, period ended 25 June 202315 Aug 202310-K:0000707549-23-000102
Form 10-Q, period ended 26 March 202324 Apr 202310-Q:0000707549-23-000081
Form 10-Q, period ended 25 December 202230 Jan 202310-Q:0000707549-23-000008
Form 10-Q, period ended 25 September 202224 Oct 202210-Q:0000707549-22-000124
Form 10-K, period ended 26 June 202224 Aug 202210-K:0000707549-22-000107
Form 10-Q, period ended 27 March 202226 Apr 202210-Q:0000707549-22-000067
Form 10-Q, period ended 26 December 20211 Feb 202210-Q:0000707549-22-000012
Form 10-Q, period ended 26 September 202126 Oct 202110-Q:0000707549-21-000155
Form 10-K, period ended 27 June 202117 Aug 202110-K:0000707549-21-000136
Form 10-Q, period ended 28 March 202128 Apr 202110-Q:0000707549-21-000089
Form 10-Q, period ended 27 December 20202 Feb 202110-Q:0000707549-21-000017
Form 10-Q, period ended 27 September 202027 Oct 202010-Q:0000707549-20-000173

Checks

277274 of 277 checks passed, 3 warnings
Fiscal calendar65 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.
Quarters and fiscal year122 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level.
Reported quarters0 of 1 passedA quarter that a filing reports on its own agrees with the figures of the same filing. Checked at warning level.
Amortisation of intangible assets, Q3 FY2023: $13.8m against $13.6m
Withheld values2 values withheldA value that contradicts the definition of its item, or that documents report in contradiction, is withheld. Checked at warning level.
Proceeds from issuance of common stock, Q1 FY2025: withheld, negative where the item cannot be negative
Proceeds from issuance of common stock, Q2 FY2025: withheld, negative where the item cannot be negative
Filer identity1 passedThe documents are those of the company of this page. Checked at error level.
Balance sheet identity24 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.
Lease liabilities6 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.
Debt maturities6 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.
Quarters and 9 months18 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.
Gross profit26 passedRevenue less cost of revenue equals reported gross profit. Checked at warning level.
Earnings per share6 passedNet income divided by average shares agrees with reported basic earnings per share. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published1,306
Proven by a check50.5%, 659 values
Confirmed by a second document0.0%, 0 values
Derived from reported figures17.7%, 231 values
Values withheld2
Restated figures tracked31
Changes compared on one basis4
Company lines mapped0 of 0 reviewed

Citation

Annalist, Lam Research Corporation, snapshot lam-research/FY2026Q4_5cf540ea (as of FY2026 Q4); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026Q4_5cf540ea · dataset SHA-256 5cf540ea6c6689bed0d0fa77309392e470a4fcef0f216a278d018944fa74c75d · findings rules 0.4

Data: info.json · dataset.json · validation.json · documents.json