Lam Research Corporation (LRCX) Q3 FY2026 Financial Statements: Revenue $5.84B, Net income $1.83B
This record covers Q3 FY2026. Lam Research has since filed a 10-K for the period ended 2026-06-28, on 2026-08-07 (SEC accession 0000707549-26-000037), which this page does not yet cover. Next expected filing: 10-Q ~2026-10-23.
More for Lam Research: Company index · 10-K and 10-Q summary · 8-K filings and events
PeriodQ3 FY2026
Published
Lam Research reported $5.84 billion in revenue for Q3 FY2026, the quarter ended March 29, 2026, up 23.8% from a year earlier, and net income of $1.83 billion, up 37.2%. Diluted earnings per share were $1.45, against $1.03 in the same quarter last year. Sales of wafer fabrication systems, the larger of the company's two revenue lines, came to $3.73 billion, up 22.9%, on broad strength in equipment spending across foundry and memory customers as AI demand lifted industry investment, while gross margin of 49.8% was up 0.8 points, which Lam attributes to favorable customer mix; a lower effective tax rate than a year earlier added to the growth in earnings.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $5,841,488,000 | up 23.8% |
| Net income | $1,825,460,000 | up 37.2% |
| Diluted EPS | $1.45 | up 40.8% |
| Gross margin | 49.8% | up 0.8 points |
| Systems revenue | $3,730,582,000 | up 22.9% |
About this file
| 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 | no |
| 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. |
LRCX annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Period end | 2025-06-29 | 2024-06-30 | 2023-06-25 |
| Period start | 2024-07-01 | 2023-06-26 | 2022-06-27 |
| Weeks in year | 52 | 53 | 52 |
| Source accession | 0000707549-25-000075 | 0000707549-25-000075 | 0000707549-25-000075 |
| Source description | FY2025 Form 10-K, filed 2025-08-11 | FY2025 Form 10-K comparative columns, filed 2025-08-11 | 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 | 18,435,591,000 | 14,905,386,000 | 17,428,516,000 |
| Systems revenue | 11,491,280,000 | 8,921,643,000 | 10,695,897,000 |
| Customer support related revenue and other | 6,944,311,000 | 5,983,743,000 | 6,732,619,000 |
| Cost of revenue | 9,456,532,000 | 7,809,220,000 | 9,573,425,000 |
| Restructuring charges in cost of revenue | 0 | 43,375,000 | 78,166,000 |
| Total cost of revenue | 9,456,532,000 | 7,852,595,000 | 9,651,591,000 |
| Gross profit | 8,979,059,000 | 7,052,791,000 | 7,776,925,000 |
| Research and development | 2,096,387,000 | 1,902,444,000 | 1,727,162,000 |
| Selling general and administrative | 981,704,000 | 868,247,000 | 832,753,000 |
| Restructuring charges in operating expenses | 0 | 18,187,000 | 42,150,000 |
| Total operating expenses | 3,078,091,000 | 2,788,878,000 | 2,602,065,000 |
| Operating income | 5,900,968,000 | 4,263,913,000 | 5,174,860,000 |
| Other income expense net | 57,161,000 | 96,309,000 | -65,650,000 |
| Income before income taxes | 5,958,129,000 | 4,360,222,000 | 5,109,210,000 |
| Income tax expense | 599,912,000 | 532,450,000 | 598,279,000 |
| Net income | 5,358,217,000 | 3,827,772,000 | 4,510,931,000 |
| Basic EPS | 4.17 | 2.91 | 3.33 |
| Diluted EPS | 4.15 | 2.9 | 3.32 |
| Basic shares | 1,286,101,000 | 1,314,102,000 | 1,354,715,000 |
| Diluted shares | 1,290,142,000 | 1,319,949,000 | 1,358,336,000 |
| Gross margin % | 48.7% | 47.3% | 44.6% |
| Operating margin % | 32.0% | 28.6% | 29.7% |
| Net margin % | 29.1% | 25.7% | 25.9% |
| Effective tax rate % | 10.1% | 12.2% | 11.7% |
| Balance sheet | |||
| Cash and equivalents | 6,390,659,000 | 5,847,856,000 | 5,337,056,000 |
| Accounts receivable net | 3,378,071,000 | 2,519,250,000 | |
| Inventories | 4,307,991,000 | 4,217,924,000 | |
| Prepaid and other current assets | 440,274,000 | 298,190,000 | |
| Total current assets | 14,516,995,000 | 12,883,220,000 | |
| Property and equipment net | 2,428,744,000 | 2,154,518,000 | |
| Goodwill and intangible assets net | 1,808,685,000 | 1,765,073,000 | |
| Other assets | 2,590,836,000 | 1,941,917,000 | |
| Total assets | 21,345,260,000 | 18,744,728,000 | n/a |
| Trade accounts payable | 854,208,000 | 613,966,000 | |
| Accrued expenses and other current liabilities | 2,394,366,000 | 1,801,877,000 | |
| Deferred profit | 2,565,540,000 | 1,417,781,000 | |
| Current portion of long term debt and finance leases | 754,311,000 | 504,814,000 | |
| Total current liabilities | 6,568,425,000 | 4,338,438,000 | |
| Long term debt and finance lease obligations | 3,730,194,000 | 4,478,520,000 | |
| Total debt | 4,484,505,000 | 4,983,334,000 | n/a |
| Senior notes outstanding at par | 4,500,000,000 | 5,000,000,000 | |
| Income taxes payable noncurrent | 603,412,000 | 813,304,000 | |
| Other long term liabilities | 581,610,000 | 575,012,000 | |
| Total liabilities | 11,483,641,000 | 10,205,274,000 | |
| Total equity | 9,861,619,000 | 8,539,454,000 | 8,210,172,000 |
| Shares issued and outstanding | 1,268,740,000 | 1,303,769,000 | 1,332,966,000 |
| Net cash position | 1,906,154,000 | 864,522,000 | |
| 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 | 6,173,264,000 | 4,652,269,000 | 5,178,938,000 |
| Capex | 759,186,000 | 396,670,000 | 501,568,000 |
| Free cash flow | 5,414,078,000 | 4,255,599,000 | 4,677,370,000 |
| Depreciation and amortization | 386,277,000 | 359,699,000 | 342,432,000 |
| Equity based compensation | 343,371,000 | 293,058,000 | 286,600,000 |
| Dividends paid | 1,149,542,000 | 1,018,915,000 | 907,907,000 |
| Dividends declared per share | 0.92 | 0.8 | 0.69 |
| Treasury stock purchases | 3,422,321,000 | 2,842,807,000 | 2,017,012,000 |
| Principal payments on debt and finance leases | 507,488,000 | 256,104,000 | 23,206,000 |
| Cash paid for interest | 172,355,000 | 173,094,000 | 174,745,000 |
| Cash paid for income taxes net | 972,513,000 | 991,821,000 | 809,748,000 |
| Revenue by geography | |||
| China | 6,205,062,000 | 6,293,990,000 | 4,462,663,000 |
| Korea | 4,127,766,000 | 2,874,015,000 | 3,551,742,000 |
| Taiwan | 3,445,220,000 | 1,671,815,000 | 3,477,862,000 |
| Japan | 1,880,882,000 | 1,460,429,000 | 1,758,364,000 |
| United States | 1,376,857,000 | 1,104,087,000 | 1,665,136,000 |
| Southeast Asia | 837,242,000 | 794,054,000 | 1,354,471,000 |
| Europe | 562,562,000 | 706,996,000 | 1,158,278,000 |
| Customer concentration | Two customers accounted for approximately 17% and 15% of total revenues; no other customer accounted for 10% or more. | One customer accounted for approximately 17% of total revenues; no other customer accounted for 10% or more. | Two customers accounted for approximately 22% and 16% of total revenues; no other customer accounted for 10% or more. |
LRCX quarterly income statement, balance sheet and cash flow
| FY2026 Q3 (three months ended March 29, 2026) | FY2025 Q3 (three months ended March 30, 2025) - prior-year comparative | |
|---|---|---|
| Label | FY2026 Q3 (three months ended March 29, 2026) | FY2025 Q3 (three months ended March 30, 2025) - prior-year comparative |
| Fiscal year | 2026 | 2025 |
| Fiscal quarter | 3 | 3 |
| Period start | 2025-12-29 | 2024-12-30 |
| Period end | 2026-03-29 | 2025-03-30 |
| Period type | three months | three months |
| Source accession | 0000707549-26-000022 | 0000707549-26-000022 |
| Source description | FY2026 Q3 Form 10-Q, filed 2026-04-23 | FY2026 Q3 Form 10-Q comparative columns, filed 2026-04-23 |
| Income statement | ||
| Revenue | 5,841,488,000 | 4,720,175,000 |
| Systems revenue | 3,730,582,000 | 3,035,276,000 |
| Customer support related revenue and other | 2,110,906,000 | 1,684,899,000 |
| Cost of revenue | 2,930,961,000 | 2,406,489,000 |
| Gross profit | 2,910,527,000 | 2,313,686,000 |
| Research and development | 583,200,000 | 525,904,000 |
| Selling general and administrative | 280,311,000 | 226,023,000 |
| Total operating expenses | 863,511,000 | 751,927,000 |
| Operating income | 2,047,016,000 | 1,561,759,000 |
| Other income expense net | -35,460,000 | -25,035,000 |
| Income before income taxes | 2,011,556,000 | 1,536,724,000 |
| Income tax expense | 186,096,000 | 206,057,000 |
| Net income | 1,825,460,000 | 1,330,667,000 |
| Basic EPS | 1.46 | 1.04 |
| Diluted EPS | 1.45 | 1.03 |
| Basic shares | 1,249,728,000 | 1,283,779,000 |
| Diluted shares | 1,257,325,000 | 1,288,100,000 |
| Gross margin % | 49.8% | 49.0% |
| Operating margin % | 35.0% | 33.1% |
| Net margin % | 31.3% | 28.2% |
| Effective tax rate % | 9.3% | 13.4% |
| Balance sheet | ||
| As of | 2026-03-29 | |
| Cash and equivalents | 4,750,936,000 | |
| Accounts receivable net | 4,132,890,000 | |
| Inventories | 3,999,992,000 | |
| Prepaid and other current assets | 413,099,000 | |
| Total current assets | 13,296,917,000 | |
| Property and equipment net | 2,853,614,000 | |
| Goodwill and intangible assets net | 1,882,017,000 | |
| Other assets | 2,759,362,000 | |
| Total assets | 20,791,910,000 | |
| Trade accounts payable | 1,071,605,000 | |
| Accrued expenses and other current liabilities | 2,075,421,000 | |
| Deferred profit | 2,091,277,000 | |
| Current portion of long term debt and finance leases | 4,095,000 | |
| Total current liabilities | 5,242,398,000 | |
| Long term debt and finance lease obligations | 3,730,384,000 | |
| Total debt | 3,734,479,000 | |
| Senior notes outstanding at par | 3,750,000,000 | |
| Income taxes payable noncurrent | 621,572,000 | |
| Other long term liabilities | 612,777,000 | |
| Total liabilities | 10,207,131,000 | |
| Total equity | 10,584,779,000 | |
| Shares issued and outstanding | 1,250,539,000 | |
| Net cash position | 1,016,457,000 | |
| Deferred revenue backlog total | 2,221,048,000 | |
| 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 | 1,141,420,000 | |
| Capex | 331,604,000 | |
| Free cash flow | 809,816,000 | |
| Depreciation and amortization | 116,322,000 | |
| Equity based compensation | 96,616,000 | |
| Dividends paid | 325,829,000 | |
| Treasury stock purchases including excise tax | 1,162,837,000 | |
| Principal payments on debt and finance leases | 751,194,000 | |
| Dividends declared per share | 0.26 | 0.23 |
| Revenue by geography | ||
| China | 1,996,926,000 | 1,467,299,000 |
| Korea | 1,352,538,000 | 1,150,480,000 |
| Taiwan | 1,317,304,000 | 1,125,955,000 |
| Japan | 470,727,000 | 474,935,000 |
| United States | 355,295,000 | 189,512,000 |
| Southeast Asia | 207,834,000 | 178,287,000 |
| Europe | 140,864,000 | 133,707,000 |
| End market mix % | ||
| Foundry | 54 | 48 |
| Memory | 39 | 43 |
| Logic/integrated device manufacturing | 7 | 9 |
LRCX year-to-date income statement and cash flow
| FY2026 first nine months (ended March 29, 2026) | |
|---|---|
| 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 | 16,510,452,000 |
| Systems revenue | 10,635,640,000 |
| Customer support related revenue and other | 5,874,812,000 |
| Cost of revenue | 8,263,884,000 |
| Gross profit | 8,246,568,000 |
| Research and development | 1,732,951,000 |
| Selling general and administrative | 827,310,000 |
| Total operating expenses | 2,560,261,000 |
| Operating income | 5,686,307,000 |
| Other income expense net | 21,024,000 |
| Income before income taxes | 5,707,331,000 |
| Income tax expense | 719,217,000 |
| Net income | 4,988,114,000 |
| Basic EPS | 3.97 |
| Diluted EPS | 3.95 |
| Basic shares | 1,256,343,000 |
| Diluted shares | 1,262,792,000 |
| Gross margin % | 49.9% |
| Operating margin % | 34.4% |
| Net margin % | 30.2% |
| Effective tax rate % | 12.6% |
| Cash flow | |
| Operating cash flow | 4,400,429,000 |
| Capex | 777,604,000 |
| Free cash flow | 3,622,825,000 |
| Depreciation and amortization | 321,891,000 |
| Equity based compensation | 282,396,000 |
| Dividends paid | 945,317,000 |
| Treasury stock purchases including excise tax | 3,604,783,000 |
| Principal payments on debt and finance leases | 754,073,000 |
| Dividends declared per share | 0.78 |
| Revenue by geography | |
| China | 6,138,046,000 |
| Korea | 3,189,325,000 |
| Taiwan | 3,413,611,000 |
| Japan | 1,548,335,000 |
| United States | 914,630,000 |
| Southeast Asia | 923,993,000 |
| Europe | 382,512,000 |
| End market mix % | |
| Foundry | 58 |
| Memory | 36 |
| Logic/integrated device manufacturing | 6 |
| Prior year comparative | |
| 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 | 13,264,198,000 |
| Systems revenue | 8,053,655,000 |
| Customer support related revenue and other | 5,210,543,000 |
| Cost of revenue | 6,874,848,000 |
| Gross profit | 6,389,350,000 |
| Research and development | 1,516,209,000 |
| Selling general and administrative | 713,301,000 |
| Total operating expenses | 2,229,510,000 |
| Operating income | 4,159,840,000 |
| Other income expense net | 19,308,000 |
| Income before income taxes | 4,179,148,000 |
| Income tax expense | 541,019,000 |
| Net income | 3,638,129,000 |
| Basic EPS | 2.82 |
| Diluted EPS | 2.81 |
| Basic shares | 1,290,041,000 |
| Diluted shares | 1,294,545,000 |
| Gross margin % | 48.2% |
| Operating margin % | 31.4% |
| Net margin % | 27.4% |
| Effective tax rate % | 12.9% |
| Cash flow | |
| Operating cash flow | 3,619,076,000 |
| Capex | 586,995,000 |
| Free cash flow | 3,032,081,000 |
| Depreciation and amortization | 287,838,000 |
| Equity based compensation | 249,085,000 |
| Dividends paid | 854,335,000 |
| Treasury stock purchases including excise tax | 2,130,044,000 |
| Principal payments on debt and finance leases | 506,003,000 |
| Dividends declared per share | 0.69 |
| Revenue by geography | |
| China | 4,368,501,000 |
| Korea | 3,002,825,000 |
| Taiwan | 2,478,997,000 |
| Japan | 1,139,597,000 |
| United States | 1,091,174,000 |
| Southeast Asia | 710,394,000 |
| Europe | 472,710,000 |
| End market mix % | |
| Foundry | 42 |
| Memory | 43 |
| Logic/integrated device manufacturing | 15 |
LRCX trailing twelve month income statement and cash flow
| Trailing twelve months ended March 29, 2026 | |
|---|---|
| Label | Trailing twelve months ended March 29, 2026 |
| Period end | 2026-03-29 |
| Derived | yes |
| 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 | 21,681,845,000 |
| Systems revenue | 14,073,265,000 |
| Customer support related revenue and other | 7,608,580,000 |
| Cost of revenue | 10,845,568,000 |
| Gross profit | 10,836,277,000 |
| Research and development | 2,313,129,000 |
| Selling general and administrative | 1,095,713,000 |
| Operating income | 7,427,435,000 |
| Net income | 6,708,202,000 |
| Operating cash flow | 6,954,617,000 |
| Capex | 949,795,000 |
| Free cash flow | 6,004,822,000 |
| Dividends paid | 1,240,524,000 |
| Gross margin % | 50.0% |
| Operating margin % | 34.3% |
| Net margin % | 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. |
Adjustments
| Value | |
|---|---|
| Splits applied | |
| 1. | |
| 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 | n/a |
| FX | None. Lam reports in U.S. dollars, so no currency conversion was required. |
Capital structure
| Value | |
|---|---|
| As of | 2026-03-29 |
| Source accession | 0000707549-26-000022 |
| Senior unsecured notes at par | 3,750,000,000 |
| Senior notes detail as of 2025 06 29 | |
| 1. | |
| Note | 3.75% Senior Notes due March 15, 2026 |
| Principal | 750,000,000 |
| Effective rate % | 3.86% |
| Status | Repaid at maturity during the quarter ended March 29, 2026 |
| 2. | |
| Note | 4.00% Senior Notes due March 15, 2029 |
| Principal | 1,000,000,000 |
| Effective rate % | 4.09% |
| Status | Outstanding |
| 3. | |
| Note | 1.90% Senior Notes due June 15, 2030 |
| Principal | 750,000,000 |
| Effective rate % | 2.01% |
| Status | Outstanding |
| 4. | |
| Note | 4.875% Senior Notes due March 15, 2049 |
| Principal | 750,000,000 |
| Effective rate % | 4.93% |
| Status | Outstanding |
| 5. | |
| Note | 2.875% Senior Notes due June 15, 2050 |
| Principal | 750,000,000 |
| Effective rate % | 2.93% |
| Status | Outstanding |
| 6. | |
| Note | 3.125% Senior Notes due June 15, 2060 |
| Principal | 500,000,000 |
| Effective rate % | 3.18% |
| Status | Outstanding |
| Senior notes detail source accession | 0000707549-25-000075 |
| Commercial paper program capacity | 2,000,000,000 |
| Commercial paper outstanding | 0 |
| Revolving credit facility capacity | 2,000,000,000 |
| 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 | 177,219,000 |
| Total interest cost recognized fy2024 | 183,035,000 |
| Total interest cost recognized fy2023 | 181,911,000 |
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
| Value | |
|---|---|
| Name | Lam Research Corp |
| Ticker | LRCX |
| CIK | 0000707549 |
| Exchange | Nasdaq |
| State | California |
| Incorporation | Delaware |
| SIC | 3559 |
| Office | Technology |
| Industry | Special Industry Machinery, NEC |
Fiscal period
| FY2026 | |
|---|---|
| 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 |
FAQ · Lam Research financial statements
How much revenue did Lam Research report in Q3 FY2026?
Lam Research reported $5.84 billion in revenue for Q3 FY2026, the quarter ended March 29, 2026. That is up 23.8% from $4.72 billion in the same quarter a year earlier.
What was Lam Research's earnings per share in Q3 FY2026?
Lam Research reported diluted earnings per share of $1.45 for Q3 FY2026, the quarter ended March 29, 2026, compared with $1.03 a year earlier. Net income for the quarter was $1.83 billion, up 37.2%.
What is Lam Research's gross margin?
Lam Research's gross margin was 49.8% in Q3 FY2026, the quarter ended March 29, 2026, up 0.8 points from 49.0% a year earlier. The company attributes the year-over-year improvement to favorable customer mix, with factory efficiency reduced by higher tariff-related spend.
How much of Lam Research's revenue comes from equipment sales rather than service?
Of the $5.84 billion in revenue Lam Research reported for Q3 FY2026, $3.73 billion came from sales of wafer fabrication systems, up 22.9% from a year earlier. The remainder is customer support related revenue from spares, upgrades and services on the installed base.
Where can I get Lam Research Corporation (LRCX) financial data in machine-readable form?
Ticker Scout publishes Lam Research Corporation's financial statements as JSON at https://tickerscout.ai/lrcx/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/lrcx/narrative.md and https://tickerscout.ai/lrcx/events.md. Lam Research Corporation's SEC CIK is 0000707549. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
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How this page was built
This page was built from three of Lam Research Corporation's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names six such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
Published by Ticker Scout, an independent publisher of company filings data. About Ticker Scout · Disclaimer
Built from Lam Research Corporation's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.