{ "ticker": "LRCX", "cik": "0000707549", "company": "Lam Research Corporation", "business_type": "industrial", "schema_note": "Standard industrial/tech template (revenue, cost of goods sold, gross margin, operating income, net income, diluted EPS and share count; cash, debt, assets, equity; operating cash flow, capital expenditures, free cash flow, dividends and buybacks). Lam is a semiconductor wafer-fabrication equipment maker operating in a single reportable business segment, so no segment profit-and-loss exists to report. Three disclosures specific to this business are carried alongside the standard lines: the split of revenue between systems and customer support-related revenue, revenue by geographic region, and customer concentration.", "reporting_currency": "USD", "converted_to_usd": false, "units": "actual dollars (not millions); per-share amounts and share counts in actual shares", "fiscal_calendar_note": "Lam uses a 52/53-week fiscal year ending on the last Sunday in June. Fiscal 2025 ended June 29, 2025 (52 weeks), fiscal 2024 ended June 30, 2024 (53 weeks), and fiscal 2023 ended June 25, 2023 (52 weeks). Fiscal 2026 ends June 28, 2026; its third quarter ended March 29, 2026.", "units_notes_seen": { "FY2025 10-K consolidated statements of operations": "(in thousands, except per share data)", "FY2025 10-K consolidated statements of comprehensive income": "(in thousands)", "FY2025 10-K consolidated balance sheets": "(in thousands, except per share data)", "FY2025 10-K consolidated statements of cash flows": "(in thousands)", "FY2025 10-K consolidated statements of stockholders' equity": "(in thousands, except per common share data)", "FY2025 10-K Note 4 revenue disaggregation (systems vs. customer support)": "(in thousands)", "FY2025 10-K Note 14 long-term debt and other borrowings": "Amount (in thousands)", "FY2025 10-K Note 19 revenue and long-lived assets by geographic region": "(in thousands)", "FY2026 Q3 10-Q condensed consolidated statements of operations": "(in thousands, except per share data)", "FY2026 Q3 10-Q condensed consolidated balance sheets": "(in thousands, except per share data)", "FY2026 Q3 10-Q condensed consolidated statements of cash flows": "(in thousands)", "FY2026 Q3 10-Q Note 3 revenue disaggregation (systems and geographic)": "(In thousands)", "FY2026 Q3 10-Q condensed consolidated statements of stockholders' equity": "per-common-share dividend amounts stated in the line captions; dollar columns in thousands", "April 22, 2026 results release Exhibit 99.1 condensed consolidated statements of cash flows": "(in thousands, unaudited)" }, "headline": { "_comment": "Lead summary, key figures and questions for this company's pages. Values are paths into this file, resolved and formatted at publication; the summary and answers are templates with named slots.", "metrics": [ { "label": "Revenue", "format": "usd", "path": [ "quarterly", 0, "income_statement", "revenue" ], "prior_path": [ "quarterly", 2, "income_statement", "revenue" ] }, { "label": "Net income", "format": "usd", "path": [ "quarterly", 0, "income_statement", "net_income" ], "prior_path": [ "quarterly", 2, "income_statement", "net_income" ] }, { "label": "Diluted EPS", "format": "eps", "path": [ "quarterly", 0, "income_statement", "diluted_eps" ], "prior_path": [ "quarterly", 2, "income_statement", "diluted_eps" ] } ], "summary": "Lam Research reported {Revenue} in revenue for {period}, the quarter ended {period_end}, {Revenue:yoy} from a year earlier. Net income was {Net income}, {Net income:yoy}, and diluted earnings per share were {Diluted EPS} against {Diluted EPS:prior} in the same quarter last year. Every figure is taken as reported from Lam Research's Form 10-Q for the period, with nothing estimated.", "qa": [ { "q": "How much revenue did Lam Research report in {period}?", "a": "Lam Research reported {Revenue} in revenue for {period}, the quarter ended {period_end}. That is {Revenue:yoy} from {Revenue:prior} in the same period a year earlier." }, { "q": "What was Lam Research's net income in {period}?", "a": "Lam Research's net income for {period} was {Net income}, {Net income:yoy} from {Net income:prior} a year earlier." }, { "q": "What was Lam Research's earnings per share in {period}?", "a": "Lam Research reported diluted earnings per share of {Diluted EPS} for {period}, against {Diluted EPS:prior} in the same quarter last year." } ] }, "adjustments": { "splits_applied": [ { "split": "10-for-1 forward stock split of common stock", "effective": "2024-10-02", "treatment": "No adjustment was applied by this report. Lam effected a ten-for-one stock split of its common stock on October 2, 2024, and the FY2025 10-K states that all share and per-share amounts in the financial statements have been retroactively adjusted to reflect the split. Every fiscal year presented here (2023, 2024, 2025) and every fiscal 2026 period is therefore already on the same post-split basis and is directly comparable." } ], "adr_ratio": null, "fx": "None. Lam reports in U.S. dollars, so no currency conversion was required." }, "annual": [ { "fiscal_year": 2025, "period_end": "2025-06-29", "period_start": "2024-07-01", "weeks_in_year": 52, "source_accession": "0000707549-25-000075", "source_description": "FY2025 Form 10-K, filed 2025-08-11", "income_statement": { "revenue": 18435591000, "systems_revenue": 11491280000, "customer_support_related_revenue_and_other": 6944311000, "cost_of_revenue": 9456532000, "restructuring_charges_in_cost_of_revenue": 0, "total_cost_of_revenue": 9456532000, "gross_profit": 8979059000, "research_and_development": 2096387000, "selling_general_and_administrative": 981704000, "restructuring_charges_in_operating_expenses": 0, "total_operating_expenses": 3078091000, "operating_income": 5900968000, "other_income_expense_net": 57161000, "income_before_income_taxes": 5958129000, "income_tax_expense": 599912000, "net_income": 5358217000, "basic_eps": 4.17, "diluted_eps": 4.15, "basic_shares": 1286101000, "diluted_shares": 1290142000, "gross_margin_pct": 48.7, "operating_margin_pct": 32.0, "net_margin_pct": 29.1, "effective_tax_rate_pct": 10.1 }, "balance_sheet": { "cash_and_equivalents": 6390659000, "accounts_receivable_net": 3378071000, "inventories": 4307991000, "prepaid_and_other_current_assets": 440274000, "total_current_assets": 14516995000, "property_and_equipment_net": 2428744000, "goodwill_and_intangible_assets_net": 1808685000, "other_assets": 2590836000, "total_assets": 21345260000, "trade_accounts_payable": 854208000, "accrued_expenses_and_other_current_liabilities": 2394366000, "deferred_profit": 2565540000, "current_portion_of_long_term_debt_and_finance_leases": 754311000, "total_current_liabilities": 6568425000, "long_term_debt_and_finance_lease_obligations": 3730194000, "total_debt": 4484505000, "senior_notes_outstanding_at_par": 4500000000, "income_taxes_payable_noncurrent": 603412000, "other_long_term_liabilities": 581610000, "total_liabilities": 11483641000, "total_equity": 9861619000, "shares_issued_and_outstanding": 1268740000, "net_cash_position": 1906154000 }, "cash_flow": { "operating_cash_flow": 6173264000, "capex": 759186000, "free_cash_flow": 5414078000, "depreciation_and_amortization": 386277000, "equity_based_compensation": 343371000, "dividends_paid": 1149542000, "dividends_declared_per_share": 0.92, "treasury_stock_purchases": 3422321000, "principal_payments_on_debt_and_finance_leases": 507488000, "cash_paid_for_interest": 172355000, "cash_paid_for_income_taxes_net": 972513000 }, "revenue_by_geography": { "China": 6205062000, "Korea": 4127766000, "Taiwan": 3445220000, "Japan": 1880882000, "United States": 1376857000, "Southeast Asia": 837242000, "Europe": 562562000 }, "customer_concentration": "Two customers accounted for approximately 17% and 15% of total revenues; no other customer accounted for 10% or more." }, { "fiscal_year": 2024, "period_end": "2024-06-30", "period_start": "2023-06-26", "weeks_in_year": 53, "source_accession": "0000707549-25-000075", "source_description": "FY2025 Form 10-K comparative columns, filed 2025-08-11", "income_statement": { "revenue": 14905386000, "systems_revenue": 8921643000, "customer_support_related_revenue_and_other": 5983743000, "cost_of_revenue": 7809220000, "restructuring_charges_in_cost_of_revenue": 43375000, "total_cost_of_revenue": 7852595000, "gross_profit": 7052791000, "research_and_development": 1902444000, "selling_general_and_administrative": 868247000, "restructuring_charges_in_operating_expenses": 18187000, "total_operating_expenses": 2788878000, "operating_income": 4263913000, "other_income_expense_net": 96309000, "income_before_income_taxes": 4360222000, "income_tax_expense": 532450000, "net_income": 3827772000, "basic_eps": 2.91, "diluted_eps": 2.9, "basic_shares": 1314102000, "diluted_shares": 1319949000, "gross_margin_pct": 47.3, "operating_margin_pct": 28.6, "net_margin_pct": 25.7, "effective_tax_rate_pct": 12.2 }, "balance_sheet": { "cash_and_equivalents": 5847856000, "accounts_receivable_net": 2519250000, "inventories": 4217924000, "prepaid_and_other_current_assets": 298190000, "total_current_assets": 12883220000, "property_and_equipment_net": 2154518000, "goodwill_and_intangible_assets_net": 1765073000, "other_assets": 1941917000, "total_assets": 18744728000, "trade_accounts_payable": 613966000, "accrued_expenses_and_other_current_liabilities": 1801877000, "deferred_profit": 1417781000, "current_portion_of_long_term_debt_and_finance_leases": 504814000, "total_current_liabilities": 4338438000, "long_term_debt_and_finance_lease_obligations": 4478520000, "total_debt": 4983334000, "senior_notes_outstanding_at_par": 5000000000, "income_taxes_payable_noncurrent": 813304000, "other_long_term_liabilities": 575012000, "total_liabilities": 10205274000, "total_equity": 8539454000, "shares_issued_and_outstanding": 1303769000, "net_cash_position": 864522000 }, "cash_flow": { "operating_cash_flow": 4652269000, "capex": 396670000, "free_cash_flow": 4255599000, "depreciation_and_amortization": 359699000, "equity_based_compensation": 293058000, "dividends_paid": 1018915000, "dividends_declared_per_share": 0.8, "treasury_stock_purchases": 2842807000, "principal_payments_on_debt_and_finance_leases": 256104000, "cash_paid_for_interest": 173094000, "cash_paid_for_income_taxes_net": 991821000 }, "revenue_by_geography": { "China": 6293990000, "Korea": 2874015000, "Taiwan": 1671815000, "Japan": 1460429000, "United States": 1104087000, "Southeast Asia": 794054000, "Europe": 706996000 }, "customer_concentration": "One customer accounted for approximately 17% of total revenues; no other customer accounted for 10% or more." }, { "fiscal_year": 2023, "period_end": "2023-06-25", "period_start": "2022-06-27", "weeks_in_year": 52, "source_accession": "0000707549-25-000075", "source_description": "FY2025 Form 10-K comparative columns, filed 2025-08-11. The 10-K's income statement, cash flow statement and revenue notes present fiscal 2023, but its balance sheet presents only fiscal 2025 and fiscal 2024, so the fiscal 2023 balance sheet below is limited to the items that do appear elsewhere in this filing.", "income_statement": { "revenue": 17428516000, "systems_revenue": 10695897000, "customer_support_related_revenue_and_other": 6732619000, "cost_of_revenue": 9573425000, "restructuring_charges_in_cost_of_revenue": 78166000, "total_cost_of_revenue": 9651591000, "gross_profit": 7776925000, "research_and_development": 1727162000, "selling_general_and_administrative": 832753000, "restructuring_charges_in_operating_expenses": 42150000, "total_operating_expenses": 2602065000, "operating_income": 5174860000, "other_income_expense_net": -65650000, "income_before_income_taxes": 5109210000, "income_tax_expense": 598279000, "net_income": 4510931000, "basic_eps": 3.33, "diluted_eps": 3.32, "basic_shares": 1354715000, "diluted_shares": 1358336000, "gross_margin_pct": 44.6, "operating_margin_pct": 29.7, "net_margin_pct": 25.9, "effective_tax_rate_pct": 11.7 }, "balance_sheet": { "cash_and_equivalents": 5337056000, "total_assets": null, "total_debt": null, "total_equity": 8210172000, "shares_issued_and_outstanding": 1332966000, "note": "Cash and cash equivalents come from the cash-flow statement's restricted-cash reconciliation; total equity and shares outstanding come from the statement of stockholders' equity. Total assets and total debt as of June 25, 2023 are not presented in the FY2025 10-K and are therefore left blank rather than estimated." }, "cash_flow": { "operating_cash_flow": 5178938000, "capex": 501568000, "free_cash_flow": 4677370000, "depreciation_and_amortization": 342432000, "equity_based_compensation": 286600000, "dividends_paid": 907907000, "dividends_declared_per_share": 0.69, "treasury_stock_purchases": 2017012000, "principal_payments_on_debt_and_finance_leases": 23206000, "cash_paid_for_interest": 174745000, "cash_paid_for_income_taxes_net": 809748000 }, "revenue_by_geography": { "China": 4462663000, "Korea": 3551742000, "Taiwan": 3477862000, "Japan": 1758364000, "United States": 1665136000, "Southeast Asia": 1354471000, "Europe": 1158278000 }, "customer_concentration": "Two customers accounted for approximately 22% and 16% of total revenues; no other customer accounted for 10% or more." } ], "quarterly": [ { "label": "FY2026 Q3 (three months ended March 29, 2026)", "fiscal_year": 2026, "fiscal_quarter": 3, "period_start": "2025-12-29", "period_end": "2026-03-29", "period_type": "three months", "source_accession": "0000707549-26-000022", "source_description": "FY2026 Q3 Form 10-Q, filed 2026-04-23", "income_statement": { "revenue": 5841488000, "systems_revenue": 3730582000, "customer_support_related_revenue_and_other": 2110906000, "cost_of_revenue": 2930961000, "gross_profit": 2910527000, "research_and_development": 583200000, "selling_general_and_administrative": 280311000, "total_operating_expenses": 863511000, "operating_income": 2047016000, "other_income_expense_net": -35460000, "income_before_income_taxes": 2011556000, "income_tax_expense": 186096000, "net_income": 1825460000, "basic_eps": 1.46, "diluted_eps": 1.45, "basic_shares": 1249728000, "diluted_shares": 1257325000, "gross_margin_pct": 49.8, "operating_margin_pct": 35.0, "net_margin_pct": 31.3, "effective_tax_rate_pct": 9.3 }, "balance_sheet": { "as_of": "2026-03-29", "cash_and_equivalents": 4750936000, "accounts_receivable_net": 4132890000, "inventories": 3999992000, "prepaid_and_other_current_assets": 413099000, "total_current_assets": 13296917000, "property_and_equipment_net": 2853614000, "goodwill_and_intangible_assets_net": 1882017000, "other_assets": 2759362000, "total_assets": 20791910000, "trade_accounts_payable": 1071605000, "accrued_expenses_and_other_current_liabilities": 2075421000, "deferred_profit": 2091277000, "current_portion_of_long_term_debt_and_finance_leases": 4095000, "total_current_liabilities": 5242398000, "long_term_debt_and_finance_lease_obligations": 3730384000, "total_debt": 3734479000, "senior_notes_outstanding_at_par": 3750000000, "income_taxes_payable_noncurrent": 621572000, "other_long_term_liabilities": 612777000, "total_liabilities": 10207131000, "total_equity": 10584779000, "shares_issued_and_outstanding": 1250539000, "net_cash_position": 1016457000, "deferred_revenue_backlog_total": 2221048000 }, "cash_flow": { "source_accession": "0000707549-26-000020", "source_description": "Exhibit 99.1 to the Form 8-K results release dated April 22, 2026, which presents a three-month cash flow column for the quarter ended March 29, 2026", "note": "The 10-Q presents cash flows only on a year-to-date basis, so the three-month figures below come from the quarterly results release furnished on Form 8-K, whose nine-month column agrees with the 10-Q line for line.", "operating_cash_flow": 1141420000, "capex": 331604000, "free_cash_flow": 809816000, "depreciation_and_amortization": 116322000, "equity_based_compensation": 96616000, "dividends_paid": 325829000, "treasury_stock_purchases_including_excise_tax": 1162837000, "principal_payments_on_debt_and_finance_leases": 751194000 }, "dividends_declared_per_share": 0.26, "revenue_by_geography": { "China": 1996926000, "Korea": 1352538000, "Taiwan": 1317304000, "Japan": 470727000, "United States": 355295000, "Southeast Asia": 207834000, "Europe": 140864000 }, "end_market_mix_pct": { "Foundry": 54, "Memory": 39, "Logic/integrated device manufacturing": 7 } }, { "label": "FY2026 first nine months (ended March 29, 2026)", "fiscal_year": 2026, "period_start": "2025-06-30", "period_end": "2026-03-29", "period_type": "nine months", "source_accession": "0000707549-26-000022", "source_description": "FY2026 Q3 Form 10-Q, filed 2026-04-23", "income_statement": { "revenue": 16510452000, "systems_revenue": 10635640000, "customer_support_related_revenue_and_other": 5874812000, "cost_of_revenue": 8263884000, "gross_profit": 8246568000, "research_and_development": 1732951000, "selling_general_and_administrative": 827310000, "total_operating_expenses": 2560261000, "operating_income": 5686307000, "other_income_expense_net": 21024000, "income_before_income_taxes": 5707331000, "income_tax_expense": 719217000, "net_income": 4988114000, "basic_eps": 3.97, "diluted_eps": 3.95, "basic_shares": 1256343000, "diluted_shares": 1262792000, "gross_margin_pct": 49.9, "operating_margin_pct": 34.4, "net_margin_pct": 30.2, "effective_tax_rate_pct": 12.6 }, "cash_flow": { "operating_cash_flow": 4400429000, "capex": 777604000, "free_cash_flow": 3622825000, "depreciation_and_amortization": 321891000, "equity_based_compensation": 282396000, "dividends_paid": 945317000, "treasury_stock_purchases_including_excise_tax": 3604783000, "principal_payments_on_debt_and_finance_leases": 754073000 }, "dividends_declared_per_share": 0.78, "revenue_by_geography": { "China": 6138046000, "Korea": 3189325000, "Taiwan": 3413611000, "Japan": 1548335000, "United States": 914630000, "Southeast Asia": 923993000, "Europe": 382512000 }, "end_market_mix_pct": { "Foundry": 58, "Memory": 36, "Logic/integrated device manufacturing": 6 } }, { "label": "FY2025 Q3 (three months ended March 30, 2025) - prior-year comparative", "fiscal_year": 2025, "fiscal_quarter": 3, "period_start": "2024-12-30", "period_end": "2025-03-30", "period_type": "three months", "source_accession": "0000707549-26-000022", "source_description": "FY2026 Q3 Form 10-Q comparative columns, filed 2026-04-23", "income_statement": { "revenue": 4720175000, "systems_revenue": 3035276000, "customer_support_related_revenue_and_other": 1684899000, "cost_of_revenue": 2406489000, "gross_profit": 2313686000, "research_and_development": 525904000, "selling_general_and_administrative": 226023000, "total_operating_expenses": 751927000, "operating_income": 1561759000, "other_income_expense_net": -25035000, "income_before_income_taxes": 1536724000, "income_tax_expense": 206057000, "net_income": 1330667000, "basic_eps": 1.04, "diluted_eps": 1.03, "basic_shares": 1283779000, "diluted_shares": 1288100000, "gross_margin_pct": 49.0, "operating_margin_pct": 33.1, "net_margin_pct": 28.2, "effective_tax_rate_pct": 13.4 }, "dividends_declared_per_share": 0.23, "revenue_by_geography": { "China": 1467299000, "Korea": 1150480000, "Taiwan": 1125955000, "Japan": 474935000, "United States": 189512000, "Southeast Asia": 178287000, "Europe": 133707000 }, "end_market_mix_pct": { "Foundry": 48, "Memory": 43, "Logic/integrated device manufacturing": 9 } }, { "label": "FY2025 first nine months (ended March 30, 2025) - prior-year comparative", "fiscal_year": 2025, "period_start": "2024-07-01", "period_end": "2025-03-30", "period_type": "nine months", "source_accession": "0000707549-26-000022", "source_description": "FY2026 Q3 Form 10-Q comparative columns, filed 2026-04-23", "income_statement": { "revenue": 13264198000, "systems_revenue": 8053655000, "customer_support_related_revenue_and_other": 5210543000, "cost_of_revenue": 6874848000, "gross_profit": 6389350000, "research_and_development": 1516209000, "selling_general_and_administrative": 713301000, "total_operating_expenses": 2229510000, "operating_income": 4159840000, "other_income_expense_net": 19308000, "income_before_income_taxes": 4179148000, "income_tax_expense": 541019000, "net_income": 3638129000, "basic_eps": 2.82, "diluted_eps": 2.81, "basic_shares": 1290041000, "diluted_shares": 1294545000, "gross_margin_pct": 48.2, "operating_margin_pct": 31.4, "net_margin_pct": 27.4, "effective_tax_rate_pct": 12.9 }, "cash_flow": { "operating_cash_flow": 3619076000, "capex": 586995000, "free_cash_flow": 3032081000, "depreciation_and_amortization": 287838000, "equity_based_compensation": 249085000, "dividends_paid": 854335000, "treasury_stock_purchases_including_excise_tax": 2130044000, "principal_payments_on_debt_and_finance_leases": 506003000 }, "dividends_declared_per_share": 0.69, "revenue_by_geography": { "China": 4368501000, "Korea": 3002825000, "Taiwan": 2478997000, "Japan": 1139597000, "United States": 1091174000, "Southeast Asia": 710394000, "Europe": 472710000 }, "end_market_mix_pct": { "Foundry": 42, "Memory": 43, "Logic/integrated device manufacturing": 15 } } ], "trailing_twelve_months": { "label": "Trailing twelve months ended March 29, 2026", "period_end": "2026-03-29", "derived": true, "derivation": "Fiscal 2025 full year plus the first nine months of fiscal 2026 minus the first nine months of fiscal 2025. Every input is a reported figure taken from the FY2025 10-K (accession 0000707549-25-000075) or the FY2026 Q3 10-Q (accession 0000707549-26-000022); no company-reported twelve-month statement exists for this window.", "source_accessions": [ "0000707549-25-000075", "0000707549-26-000022" ], "revenue": 21681845000, "systems_revenue": 14073265000, "customer_support_related_revenue_and_other": 7608580000, "cost_of_revenue": 10845568000, "gross_profit": 10836277000, "research_and_development": 2313129000, "selling_general_and_administrative": 1095713000, "operating_income": 7427435000, "net_income": 6708202000, "operating_cash_flow": 6954617000, "capex": 949795000, "free_cash_flow": 6004822000, "dividends_paid": 1240524000, "gross_margin_pct": 50.0, "operating_margin_pct": 34.3, "net_margin_pct": 30.9, "diluted_eps_approx": 5.29, "diluted_eps_note": "Approximate. Built by adding the reported fiscal 2025 diluted EPS of $4.15 and the reported nine-month fiscal 2026 diluted EPS of $3.95 and subtracting the reported nine-month fiscal 2025 diluted EPS of $2.81. Because the weighted-average diluted share count differs across those periods, this is close to but not exactly the same as trailing net income divided by a trailing share count." }, "capital_structure": { "as_of": "2026-03-29", "source_accession": "0000707549-26-000022", "senior_unsecured_notes_at_par": 3750000000, "senior_notes_detail_as_of_2025_06_29": [ { "note": "3.75% Senior Notes due March 15, 2026", "principal": 750000000, "effective_rate_pct": 3.86, "status": "Repaid at maturity during the quarter ended March 29, 2026" }, { "note": "4.00% Senior Notes due March 15, 2029", "principal": 1000000000, "effective_rate_pct": 4.09, "status": "Outstanding" }, { "note": "1.90% Senior Notes due June 15, 2030", "principal": 750000000, "effective_rate_pct": 2.01, "status": "Outstanding" }, { "note": "4.875% Senior Notes due March 15, 2049", "principal": 750000000, "effective_rate_pct": 4.93, "status": "Outstanding" }, { "note": "2.875% Senior Notes due June 15, 2050", "principal": 750000000, "effective_rate_pct": 2.93, "status": "Outstanding" }, { "note": "3.125% Senior Notes due June 15, 2060", "principal": 500000000, "effective_rate_pct": 3.18, "status": "Outstanding" } ], "senior_notes_detail_source_accession": "0000707549-25-000075", "commercial_paper_program_capacity": 2000000000, "commercial_paper_outstanding": 0, "revolving_credit_facility_capacity": 2000000000, "revolving_credit_facility_note": "Backstops the commercial paper program and includes an option to increase the commitment by up to an additional $750.0 million.", "total_interest_cost_recognized_fy2025": 177219000, "total_interest_cost_recognized_fy2024": 183035000, "total_interest_cost_recognized_fy2023": 181911000 }, "notes": [ "All figures are stated in actual U.S. dollars. The filings present their statements in thousands; every amount here has been multiplied by 1,000 accordingly. Share counts are in actual shares for the same reason, and per-share amounts are unchanged from the filings.", "Source filings: the fiscal 2025 Form 10-K (accession 0000707549-25-000075, year ended June 29, 2025, filed August 11, 2025) supplies the three annual years; the fiscal 2026 third-quarter Form 10-Q (accession 0000707549-26-000022, quarter ended March 29, 2026, filed April 23, 2026) supplies all fiscal 2026 periods and the prior-year quarterly comparatives.", "Lam announced its March 2026 quarter results in an earnings release dated April 22, 2026 (accession 0000707549-26-000020), one day before the 10-Q covering the same quarter. Because the 10-Q is the full periodic filing for that period, with complete statements and notes, the March 2026 quarter's income statement and balance sheet figures here are taken from the 10-Q rather than the press release; the quarter's cash flow figures come from the release, which is the only filing presenting a three-month cash flow statement for that period (see the cash flow sourcing note below). No results release exists for any quarter after March 29, 2026.", "Lam effected a ten-for-one stock split of its common stock on October 2, 2024. The FY2025 10-K states that all share and per-share amounts have been retroactively adjusted for the split, so the fiscal 2023 and fiscal 2024 earnings per share and share counts shown here are already on the current post-split basis and no further adjustment was made.", "Cost of revenue: fiscal 2024 and fiscal 2023 each carried a separate restructuring line inside cost of goods sold ($43.4 million and $78.2 million respectively) and inside operating expenses ($18.2 million and $42.2 million). Both components are shown separately and are included in the total cost of revenue and total operating expenses used to compute gross profit and operating income, matching the filing's own subtotals. No restructuring charges were recorded in fiscal 2025.", "Total debt is the sum of the balance sheet's current portion of long-term debt and finance lease obligations plus its long-term debt and finance lease obligations, so it includes a small amount of finance lease liability alongside the senior notes. As of March 29, 2026 that total was $3.734 billion against $3.750 billion of senior notes at par; the difference between par and carrying value reflects unamortized discount and issuance costs netted against finance leases and other financing arrangements.", "Capital expenditures are taken from the cash flow statement line 'Capital expenditures and intangible assets', which is how Lam presents the item; free cash flow is operating cash flow less that line.", "Dividends per share are the amounts declared, read from the captions on the statement of stockholders' equity: $0.69 for fiscal 2023, $0.80 for fiscal 2024, $0.92 for fiscal 2025, $0.26 for the March 2026 quarter and $0.78 for the first nine months of fiscal 2026. Dividends paid in the cash flow statement differ slightly from dividends declared because of timing.", "Fiscal 2023 balance sheet coverage is partial by design. The FY2025 10-K's balance sheet presents only fiscal 2025 and fiscal 2024, so for fiscal 2023 only the cash balance (from the cash flow statement's restricted-cash reconciliation) and total equity and shares outstanding (from the statement of stockholders' equity) could be sourced from a filing. Total assets and total debt for that year are left blank rather than estimated.", "Fiscal 2024 was a 53-week year while fiscal 2023 and fiscal 2025 were 52-week years, which flatters fiscal 2024 growth marginally relative to its neighbours.", "Cash flow sourcing for the March 2026 quarter: Lam files cash flows only on a year-to-date basis in its 10-Qs, so the 10-Q supplies the nine-month figures. The quarterly results release furnished on Form 8-K (accession 0000707549-26-000020) does present a three-month cash flow statement for the quarter ended March 29, 2026, and that is the source of the quarter's cash flow figures shown here. Its nine-month column agrees with the 10-Q line for line.", "Lam operates in a single reportable business segment (manufacturing and servicing of wafer processing semiconductor manufacturing equipment), so no segment profit-and-loss breakdown is available. The systems versus customer support-related revenue split and the geographic split are disaggregation disclosures, not segments.", "Margins, effective tax rates, free cash flow and net cash position are computed from the reported figures shown alongside them; every input is a filed number.", "One presentational difference between the filing and the SEC's XBRL company facts is worth naming: the structured data tags long-term debt at $3,719,694 thousand as of June 29, 2025 (the senior notes alone, per the debt note), whereas the balance sheet caption 'Long-term debt and finance lease obligations' reads $3,730,194 thousand. This report follows the balance sheet caption." ], "uncertainties": [ "The trailing-twelve-month figures are arithmetic, not a company-reported statement. They are built by adding fiscal 2025 to the first nine months of fiscal 2026 and subtracting the first nine months of fiscal 2025. That construction is exact for revenue, income and cash flow items, but the trailing diluted earnings per share of about $5.29 is approximate because the weighted-average diluted share count differs across the three component periods.", "Fiscal 2023 total assets and total debt are not reported here because the FY2025 10-K does not present a fiscal 2023 balance sheet. Anyone needing those figures would have to consult the fiscal 2023 or fiscal 2024 Form 10-K.", "Customer concentration is disclosed only annually in the 10-K, so no fiscal 2026 customer concentration figure is available. The most recent disclosure is fiscal 2025, when two customers were approximately 17% and 15% of revenue.", "Long-lived assets by geography are reported in the annual filing but are not repeated in the 10-Q, so no March 2026 geographic asset breakdown is shown.", "The senior notes detail table (coupons, effective rates, maturities) is as of June 29, 2025 from the 10-K. The 10-Q confirms that the $750 million 3.75% notes due March 15, 2026 were settled at maturity in the March 2026 quarter and that the remaining notes are unchanged, but the 10-Q does not restate the full table, so the per-note effective rates carry the June 2025 measurement date.", "Total interest cost recognized is disclosed annually in the 10-K; no equivalent fiscal 2026 interim figure is presented, so interest cost for fiscal 2026 periods is not shown. Interest expense sits inside the 'Other income (expense), net' line on the face of the income statement and is not separately broken out there." ], "company_details": { "Name": "Lam Research Corp", "Ticker": "LRCX", "CIK": "0000707549", "Exchange": "Nasdaq", "State": "California", "Incorporation": "Delaware", "SIC": "3559", "Office": "Technology", "Industry": "Special Industry Machinery, NEC" }, "next_filing": { "predicted_date": "2026-08-18", "predicted_type": "10-K" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q3", "tag": "FY26Q3", "period_end": "2026-03-29", "form": "10-Q", "accession": "0000707549-26-000022", "fiscal_year_end": "0628", "source": "facts" } }