Lam Research Corporation (LRCX) FY2026 Financial Statements: Revenue $23.23B, Net income $7.27B
More for Lam Research: Company index · 10-K and 10-Q summary · 8-K filings and events
PeriodQ1 FY2027FY2026Q3 FY2026
Archived record for FY2026. The current period is Q1 FY2027.
Published
Lam Research reported revenue of $23.23 billion for FY2026, the fiscal year ended June 28, 2026, up 26.0% from $18.44 billion a year earlier, on stronger sales of wafer fabrication equipment, especially to foundry customers, and higher customer support revenue. Net income was $7.27 billion, up 35.6%, and diluted earnings per share were $5.76, compared with $4.15 in the prior year. Gross margin was 50.5%, up 1.8 points from a year earlier, which Lam attributed largely to a favorable customer mix, partly offset by steel and aluminum tariff costs.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $23,232,690,000 | up 26.0% |
| Net income | $7,265,396,000 | up 35.6% |
| Diluted EPS | $5.76 | up 38.8% |
| Gross margin | 50.5% | up 1.8 points |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | LRCX |
|---|---|
| CIK | 0000707549 |
| Company | Lam Research Corporation |
| Business type | industrial |
| Schema note | Standard industrial template (revenue, cost of revenue, gross profit, operating expenses, operating income, net income, per-share figures; balance sheet; cash flow with free cash flow). Lam designs, manufactures and services wafer fabrication equipment, a capital-equipment business that this template describes well. Revenue is further broken out into systems versus customer support-related revenue, by geographic region, and by the end markets Lam serves, because those are the disclosures Lam itself uses to explain its results. |
| 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's fiscal year ends on the last Sunday of June. Fiscal 2026 ended June 28, 2026 and fiscal 2025 ended June 29, 2025, both 52-week years; fiscal 2024 ended June 30, 2024 and was a 53-week year. The fiscal fourth quarter is the quarter ending in late June. |
LRCX annual income statement, balance sheet and cash flow
| FY2026 | FY2025 | FY2024 | |
|---|---|---|---|
| Period start | 2025-06-30 | 2024-07-01 | 2023-06-26 |
| Period end | 2026-06-28 | 2025-06-29 | 2024-06-30 |
| Period type | fiscal year | fiscal year | fiscal year |
| Weeks in year | 52 | 52 | 53 |
| Source accession | 10-K | 10-K | 10-K |
| Income statement | |||
| Revenue | 23,232,690,000 | 18,435,591,000 | 14,905,386,000 |
| Systems revenue | 14,885,488,000 | 11,491,280,000 | 8,921,643,000 |
| Customer support related revenue and other | 8,347,202,000 | 6,944,311,000 | 5,983,743,000 |
| Cost of revenue | 11,507,382,000 | 9,456,532,000 | 7,809,220,000 |
| Restructuring charges in cost of revenue | 0 | 0 | 43,375,000 |
| Total cost of revenue | 11,507,382,000 | 9,456,532,000 | 7,852,595,000 |
| Gross profit | 11,725,308,000 | 8,979,059,000 | 7,052,791,000 |
| Research and development | 2,375,873,000 | 2,096,387,000 | 1,902,444,000 |
| Selling general and administrative | 1,149,640,000 | 981,704,000 | 868,247,000 |
| Restructuring charges in operating expenses | 0 | 0 | 18,187,000 |
| Total operating expenses | 3,525,513,000 | 3,078,091,000 | 2,788,878,000 |
| Operating income | 8,199,795,000 | 5,900,968,000 | 4,263,913,000 |
| Other income expense net | 62,678,000 | 57,161,000 | 96,309,000 |
| Income before income taxes | 8,262,473,000 | 5,958,129,000 | 4,360,222,000 |
| Income tax expense | 997,077,000 | 599,912,000 | 532,450,000 |
| Net income | 7,265,396,000 | 5,358,217,000 | 3,827,772,000 |
| Basic EPS | 5.79 | 4.17 | 2.91 |
| Diluted EPS | 5.76 | 4.15 | 2.90 |
| Basic shares | 1,255,079,000 | 1,286,101,000 | 1,314,102,000 |
| Diluted shares | 1,261,102,000 | 1,290,142,000 | 1,319,949,000 |
| Gross margin % | 50.5% | 48.7% | 47.3% |
| Operating margin % | 35.3% | 32.0% | 28.6% |
| Net margin % | 31.3% | 29.1% | 25.7% |
| Effective tax rate % | 12.1% | 10.1% | 12.2% |
| Balance sheet | |||
| Cash and equivalents | 5,579,171,000 | 6,390,659,000 | 5,847,856,000 |
| Accounts receivable net | 5,339,682,000 | 3,378,071,000 | |
| Inventories | 4,276,111,000 | 4,307,991,000 | |
| Prepaid and other current assets | 415,741,000 | 440,274,000 | |
| Total current assets | 15,610,705,000 | 14,516,995,000 | |
| Property and equipment net | 2,956,472,000 | 2,428,744,000 | |
| Goodwill and intangible assets net | 1,895,859,000 | 1,808,685,000 | |
| Other assets | 3,066,707,000 | 2,590,836,000 | |
| Total assets | 23,529,743,000 | 21,345,260,000 | n/a |
| Trade accounts payable | 1,302,467,000 | 854,208,000 | |
| Accrued expenses and other current liabilities | 2,351,541,000 | 2,394,366,000 | |
| Deferred profit | 2,279,168,000 | 2,565,540,000 | |
| Current portion of long term debt and finance leases | 4,073,000 | 754,311,000 | |
| Total current liabilities | 5,937,249,000 | 6,568,425,000 | |
| Long term debt and finance lease obligations | 3,730,490,000 | 3,730,194,000 | |
| Total debt | 3,734,563,000 | 4,484,505,000 | n/a |
| Senior notes outstanding at par | 3,750,000,000 | 4,500,000,000 | |
| Income taxes payable noncurrent | 681,197,000 | 603,412,000 | |
| Other long term liabilities | 709,886,000 | 581,610,000 | |
| Total liabilities | 11,058,822,000 | 11,483,641,000 | |
| Total equity | 12,470,921,000 | 9,861,619,000 | 8,539,454,000 |
| Shares issued and outstanding | 1,251,278,000 | 1,268,740,000 | 1,303,769,000 |
| Net cash position | 1,844,608,000 | 1,906,154,000 | |
| Deferred revenue backlog total | 2,433,996,000 | ||
| Cash flow | |||
| Operating cash flow | 5,857,657,000 | 6,173,264,000 | 4,652,269,000 |
| Capex | 966,405,000 | 759,186,000 | 396,670,000 |
| Free cash flow | 4,891,252,000 | 5,414,078,000 | 4,255,599,000 |
| Depreciation and amortization | 441,533,000 | 386,277,000 | 359,699,000 |
| Equity based compensation | 386,381,000 | 343,371,000 | 293,058,000 |
| Dividends paid | 1,270,635,000 | 1,149,542,000 | 1,018,915,000 |
| Dividends declared per share | 1.04 | 0.92 | 0.80 |
| Treasury stock purchases | 3,851,343,000 | 3,422,321,000 | 2,842,807,000 |
| Principal payments on debt and finance leases | 755,428,000 | 507,488,000 | 256,104,000 |
| Cash paid for interest | 150,101,000 | 172,355,000 | 173,094,000 |
| Cash paid for income taxes net | 1,333,996,000 | 972,500,000 | 991,800,000 |
| Revenue by geography | |||
| China | 7,859,811,000 | 6,205,062,000 | 6,293,990,000 |
| Taiwan | 5,222,915,000 | 3,445,220,000 | 1,671,815,000 |
| Korea | 4,505,327,000 | 4,127,766,000 | 2,874,015,000 |
| Japan | 2,171,088,000 | 1,880,882,000 | 1,460,429,000 |
| United States | 1,528,912,000 | 1,376,857,000 | 1,104,087,000 |
| Southeast Asia | 1,245,931,000 | 837,242,000 | 794,054,000 |
| Europe | 698,706,000 | 562,562,000 | 706,996,000 |
| End market mix % | |||
| Foundry | 54 | 45 | 40 |
| Memory | 39 | 42 | 42 |
| Logic/integrated device manufacturing | 7 | 13 | 18 |
- Source description, FY2026. FY2026 Form 10-K, filed 2026-08-07
- Source description, FY2025. FY2026 Form 10-K comparative columns, filed 2026-08-07
- Source description, FY2024. FY2026 Form 10-K comparative columns, filed 2026-08-07. The 10-K's income statement, cash flow statement and revenue notes present fiscal 2024, but its balance sheet presents only fiscal 2026 and fiscal 2025, so the fiscal 2024 balance sheet below is limited to the items that appear elsewhere in this filing.
- Balance sheet: note, FY2024. 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 30, 2024 are not presented in the FY2026 10-K and are therefore left blank rather than estimated.
- Customer concentration, FY2026. Four customers accounted for approximately 16%, 15%, 12% and 12% of total revenues; no other customer accounted for 10% or more.
- Customer concentration, FY2025. Two customers accounted for approximately 17% and 15% of total revenues; no other customer accounted for 10% or more.
- Customer concentration, FY2024. One customer accounted for approximately 17% of total revenues; no other customer accounted for 10% or more.
LRCX quarterly income statement, balance sheet and cash flow
| Q4 FY2026 | Q3 FY2026 | Q4 FY2025 | Q3 FY2025 | |
|---|---|---|---|---|
| Fiscal quarter | 4 | 3 | 4 | 3 |
| Period start | 2026-03-30 | 2025-12-29 | 2025-03-31 | 2024-12-30 |
| Period end | 2026-06-28 | 2026-03-29 | 2025-06-29 | 2025-03-30 |
| Period type | three months | three months | three months | three months |
| Source accession | 10-K | 0000707549-26-000022 | 10-K | 0000707549-26-000022 |
| Derived from accessions | 10-K, 0000707549-26-000022 | 10-K, 0000707549-26-000022 | ||
| Income statement source accession | 0000707549-26-000033 | 0000707549-26-000033 | ||
| Cash flow source accession | 0000707549-26-000033 | 0000707549-26-000020 | 0000707549-26-000033 | 0000707549-26-000020 |
| Revenue by geography source accession | 10-K | 10-K | ||
| Income statement | ||||
| Revenue | 6,722,238,000 | 5,841,488,000 | 5,171,393,000 | 4,720,175,000 |
| Systems revenue | 4,249,848,000 | 3,730,582,000 | 3,437,625,000 | 3,035,276,000 |
| Customer support related revenue and other | 2,472,390,000 | 2,110,906,000 | 1,733,768,000 | 1,684,899,000 |
| Cost of revenue | 3,243,498,000 | 2,930,961,000 | 2,581,684,000 | 2,406,489,000 |
| Gross profit | 3,478,740,000 | 2,910,527,000 | 2,589,709,000 | 2,313,686,000 |
| Research and development | 642,922,000 | 583,200,000 | 580,178,000 | 525,904,000 |
| Selling general and administrative | 322,330,000 | 280,311,000 | 268,403,000 | 226,023,000 |
| Total operating expenses | 965,252,000 | 863,511,000 | 848,581,000 | 751,927,000 |
| Operating income | 2,513,488,000 | 2,047,016,000 | 1,741,128,000 | 1,561,759,000 |
| Other income expense net | 41,654,000 | -35,460,000 | 37,853,000 | -25,035,000 |
| Income before income taxes | 2,555,142,000 | 2,011,556,000 | 1,778,981,000 | 1,536,724,000 |
| Income tax expense | 277,860,000 | 186,096,000 | 58,893,000 | 206,057,000 |
| Net income | 2,277,282,000 | 1,825,460,000 | 1,720,088,000 | 1,330,667,000 |
| Basic EPS | 1.82 | 1.46 | 1.35 | 1.04 |
| Diluted EPS | 1.81 | 1.45 | 1.35 | 1.03 |
| Basic shares | 1,251,286,000 | 1,249,728,000 | 1,274,279,000 | 1,283,779,000 |
| Diluted shares | 1,256,032,000 | 1,257,325,000 | 1,276,933,000 | 1,288,100,000 |
| Gross margin % | 51.7% | 49.8% | 50.1% | 49.0% |
| Operating margin % | 37.4% | 35.0% | 33.7% | 33.1% |
| Net margin % | 33.9% | 31.3% | 33.3% | 28.2% |
| Effective tax rate % | 10.9% | 9.3% | 3.3% | 13.4% |
| Balance sheet | ||||
| As of | 2026-06-28 | 2026-03-29 | 2025-06-29 | |
| Cash and equivalents | 5,579,171,000 | 4,750,936,000 | 6,390,659,000 | |
| Accounts receivable net | 5,339,682,000 | 4,132,890,000 | 3,378,071,000 | |
| Inventories | 4,276,111,000 | 3,999,992,000 | 4,307,991,000 | |
| Prepaid and other current assets | 415,741,000 | 413,099,000 | 440,274,000 | |
| Total current assets | 15,610,705,000 | 13,296,917,000 | 14,516,995,000 | |
| Property and equipment net | 2,956,472,000 | 2,853,614,000 | 2,428,744,000 | |
| Goodwill and intangible assets net | 1,895,859,000 | 1,882,017,000 | 1,808,685,000 | |
| Other assets | 3,066,707,000 | 2,759,362,000 | 2,590,836,000 | |
| Total assets | 23,529,743,000 | 20,791,910,000 | 21,345,260,000 | |
| Trade accounts payable | 1,302,467,000 | 1,071,605,000 | 854,208,000 | |
| Accrued expenses and other current liabilities | 2,351,541,000 | 2,075,421,000 | 2,394,366,000 | |
| Deferred profit | 2,279,168,000 | 2,091,277,000 | 2,565,540,000 | |
| Current portion of long term debt and finance leases | 4,073,000 | 4,095,000 | 754,311,000 | |
| Total current liabilities | 5,937,249,000 | 5,242,398,000 | 6,568,425,000 | |
| Long term debt and finance lease obligations | 3,730,490,000 | 3,730,384,000 | 3,730,194,000 | |
| Total debt | 3,734,563,000 | 3,734,479,000 | 4,484,505,000 | |
| Senior notes outstanding at par | 3,750,000,000 | 3,750,000,000 | 4,500,000,000 | |
| Income taxes payable noncurrent | 681,197,000 | 621,572,000 | 603,412,000 | |
| Other long term liabilities | 709,886,000 | 612,777,000 | 581,610,000 | |
| Total liabilities | 11,058,822,000 | 10,207,131,000 | 11,483,641,000 | |
| Total equity | 12,470,921,000 | 10,584,779,000 | 9,861,619,000 | |
| Shares issued and outstanding | 1,251,278,000 | 1,250,539,000 | 1,268,740,000 | |
| Net cash position | 1,844,608,000 | 1,016,457,000 | 1,906,154,000 | |
| Deferred revenue backlog total | 2,433,996,000 | 2,221,048,000 | ||
| Cash flow | ||||
| Operating cash flow | 1,457,228,000 | 1,141,420,000 | 2,554,188,000 | 1,308,663,000 |
| Capex | 188,801,000 | 331,604,000 | 172,191,000 | 288,058,000 |
| Free cash flow | 1,268,427,000 | 809,816,000 | 2,381,997,000 | 1,020,605,000 |
| Depreciation and amortization | 119,642,000 | 116,322,000 | 98,439,000 | 97,343,000 |
| Equity based compensation | 103,985,000 | 96,616,000 | 94,286,000 | 87,115,000 |
| Dividends paid | 325,318,000 | 325,829,000 | 295,207,000 | 295,716,000 |
| Dividends declared per share | 0.26 | 0.26 | 0.23 | 0.23 |
| Treasury stock purchases | 246,560,000 | 1,162,837,000 | 1,292,277,000 | 435,321,000 |
| Principal payments on debt and finance leases | 1,355,000 | 751,194,000 | 1,485,000 | 504,037,000 |
| Source accession | 0000707549-26-000020 | |||
| Revenue by geography | ||||
| China | 1,721,765,000 | 1,996,926,000 | 1,836,561,000 | 1,467,299,000 |
| Taiwan | 1,809,304,000 | 1,317,304,000 | 966,223,000 | 1,125,955,000 |
| Korea | 1,316,002,000 | 1,352,538,000 | 1,124,941,000 | 1,150,480,000 |
| Japan | 622,753,000 | 470,727,000 | 741,285,000 | 474,935,000 |
| United States | 614,282,000 | 355,295,000 | 285,683,000 | 189,512,000 |
| Southeast Asia | 321,938,000 | 207,834,000 | 126,848,000 | 178,287,000 |
| Europe | 316,194,000 | 140,864,000 | 89,852,000 | 133,707,000 |
| End market mix % | ||||
| Foundry | 54 | 48 | ||
| Memory | 39 | 43 | ||
| Logic/integrated device manufacturing | 7 | 9 | ||
- Source description, Q4 FY2026, Q4 FY2025. Derived: the FY2026 Form 10-K full-year figures less the FY2026 Q3 Form 10-Q nine-month figures; balance sheet from the FY2026 Form 10-K
- Source description, Q3 FY2026. FY2026 Q3 Form 10-Q, filed 2026-04-23
- Source description, Q3 FY2025. FY2026 Q3 Form 10-Q comparative columns, filed 2026-04-23
- Derivation, Q4 FY2026. Lam files no Form 10-Q for its fourth fiscal quarter. Every dollar amount in this quarter's income statement, cash flow and revenue breakdowns is the fiscal 2026 full-year figure in the FY2026 10-K (accession 0000707549-26-000037) less the matching nine-month figure in the FY2026 Q3 10-Q (accession 0000707549-26-000022). Each of those differences agrees exactly with the three-month column of the quarterly results release furnished on Form 8-K on July 29, 2026 (accession 0000707549-26-000033, Exhibit 99.1), which is cited for the quarter's income statement and cash flow because it is the filing that prints them. Per-share amounts, share counts and the dividend declared per share cannot be obtained by subtraction and are taken from that release. The revenue-by-region amounts are derived only; the release gives the quarter's regional mix in whole percentages, not dollars. The balance sheet is the fiscal year-end balance sheet in the FY2026 10-K.
- Derivation, Q4 FY2025. Lam files no Form 10-Q for its fourth fiscal quarter. Every dollar amount in this quarter's income statement, cash flow and revenue breakdowns is the fiscal 2025 full-year figure in the FY2026 10-K (accession 0000707549-26-000037) less the matching nine-month figure in the FY2026 Q3 10-Q (accession 0000707549-26-000022). Each of those differences agrees exactly with the three-month column of the quarterly results release furnished on Form 8-K on July 29, 2026 (accession 0000707549-26-000033, Exhibit 99.1), which is cited for the quarter's income statement and cash flow because it is the filing that prints them. Per-share amounts, share counts and the dividend declared per share cannot be obtained by subtraction and are taken from that release. The revenue-by-region amounts are derived only; the release gives the quarter's regional mix in whole percentages, not dollars. The balance sheet is the fiscal year-end balance sheet in the FY2026 10-K.
- Cash flow: source description, Q3 FY2026. 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
- Cash flow: note, Q3 FY2026. 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 on April 22, 2026, whose nine-month column agrees with the 10-Q line for line. The same three-month figures are reprinted in the March 2026 quarter column of the July 29, 2026 results release (accession 0000707549-26-000033).
- Cash flow: note, Q3 FY2025. The 10-Q presents cash flows only on a year-to-date basis, so the three-month figures here come from the March 2025 quarter column of the quarterly results release furnished on Form 8-K on April 22, 2026, whose nine-month columns agree with the 10-Q line for line. The dividend declared per share is from the 10-Q's statement of stockholders' equity and is also printed in that release.
LRCX year-to-date income statement and cash flow
| First nine months of fiscal 2026 (ended March 29, 2026) | First nine months of fiscal 2025 (ended March 30, 2025) - prior-year comparative | |
|---|---|---|
| Period start | 2025-06-30 | 2024-07-01 |
| Period end | 2026-03-29 | 2025-03-30 |
| Period type | nine months | nine months |
| Source accession | 0000707549-26-000022 | 0000707549-26-000022 |
| Income statement | ||
| Revenue | 16,510,452,000 | 13,264,198,000 |
| Systems revenue | 10,635,640,000 | 8,053,655,000 |
| Customer support related revenue and other | 5,874,812,000 | 5,210,543,000 |
| Cost of revenue | 8,263,884,000 | 6,874,848,000 |
| Gross profit | 8,246,568,000 | 6,389,350,000 |
| Research and development | 1,732,951,000 | 1,516,209,000 |
| Selling general and administrative | 827,310,000 | 713,301,000 |
| Total operating expenses | 2,560,261,000 | 2,229,510,000 |
| Operating income | 5,686,307,000 | 4,159,840,000 |
| Other income expense net | 21,024,000 | 19,308,000 |
| Income before income taxes | 5,707,331,000 | 4,179,148,000 |
| Income tax expense | 719,217,000 | 541,019,000 |
| Net income | 4,988,114,000 | 3,638,129,000 |
| Basic EPS | 3.97 | 2.82 |
| Diluted EPS | 3.95 | 2.81 |
| Basic shares | 1,256,343,000 | 1,290,041,000 |
| Diluted shares | 1,262,792,000 | 1,294,545,000 |
| Gross margin % | 49.9% | 48.2% |
| Operating margin % | 34.4% | 31.4% |
| Net margin % | 30.2% | 27.4% |
| Effective tax rate % | 12.6% | 12.9% |
| Cash flow | ||
| Operating cash flow | 4,400,429,000 | 3,619,076,000 |
| Capex | 777,604,000 | 586,995,000 |
| Free cash flow | 3,622,825,000 | 3,032,081,000 |
| Depreciation and amortization | 321,891,000 | 287,838,000 |
| Equity based compensation | 282,396,000 | 249,085,000 |
| Dividends paid | 945,317,000 | 854,335,000 |
| Dividends declared per share | 0.78 | 0.69 |
| Treasury stock purchases | 3,604,783,000 | 2,130,044,000 |
| Principal payments on debt and finance leases | 754,073,000 | 506,003,000 |
| Revenue by geography | ||
| China | 6,138,046,000 | 4,368,501,000 |
| Taiwan | 3,413,611,000 | 2,478,997,000 |
| Korea | 3,189,325,000 | 3,002,825,000 |
| Japan | 1,548,335,000 | 1,139,597,000 |
| United States | 914,630,000 | 1,091,174,000 |
| Southeast Asia | 923,993,000 | 710,394,000 |
| Europe | 382,512,000 | 472,710,000 |
| End market mix % | ||
| Foundry | 58 | 42 |
| Memory | 36 | 43 |
| Logic/integrated device manufacturing | 6 | 15 |
- Source description, First nine months of fiscal 2026 (ended March 29, 2026). FY2026 Q3 Form 10-Q, filed 2026-04-23
- Source description, First nine months of fiscal 2025 (ended March 30, 2025) - prior-year comparative. FY2026 Q3 Form 10-Q comparative columns, filed 2026-04-23
- Note, First nine months of fiscal 2026 (ended March 29, 2026). Lam's fiscal 2026 is complete, so the full-year figures in the annual record are the current year-to-date and trailing-twelve-month view. This block keeps the nine-month figures from the FY2026 Q3 10-Q, which are the basis on which the fourth quarter is derived.
Adjustments
| Splits applied | |
|---|---|
| 1. | |
| Split | 10-for-1 forward stock split of common stock |
| Effective | 2024-10-03 |
| Treatment | No adjustment was applied. The split took effect in October 2024, during fiscal 2025. The FY2026 10-K presents every year it covers, including fiscal 2024, on the post-split share basis (fiscal 2024 diluted earnings per share of $2.90 on 1.32 billion diluted shares), and the FY2026 Q3 10-Q and both results releases used here do the same, so every per-share figure and share count in this record is directly comparable. |
| ADR ratio | n/a |
| FX | None. Lam reports in U.S. dollars, so no currency conversion was required. |
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 2026 Form 10-K (accession 0000707549-26-000037, year ended June 28, 2026, filed August 7, 2026) supplies the three annual years and the fiscal year-end balance sheets; the fiscal 2026 third-quarter Form 10-Q (accession 0000707549-26-000022, quarter ended March 29, 2026, filed April 23, 2026) supplies the March 2026 and March 2025 quarters and the nine-month figures. The 10-K was filed after the 10-Q and reports the full year that contains the 10-Q's quarter, so this record leads with the completed fiscal 2026.
- Quarterly coverage is deliberately limited to four quarters: the March 2026 and March 2025 quarters as the 10-Q presents them, and the June 2026 and June 2025 quarters (the fiscal fourth quarters), each derived as the 10-K's full-year figure less the 10-Q's nine-month figure. The first and second quarters of fiscal 2025 and fiscal 2026 are not included, because neither the 10-K nor the 10-Q presents them as separate quarters. Those quarters appear only in Lam's quarterly results releases furnished on Form 8-K and in Lam's earlier 10-Q filings, so the quarterly series here is two matched pairs of quarters, not a continuous run.
- Fourth-quarter derivation: Lam files no 10-Q for its fiscal fourth quarter. Every dollar amount in the June 2026 and June 2025 quarters' income statement, cash flow and revenue breakdowns is the full-year figure in the FY2026 10-K less the matching nine-month figure in the FY2026 Q3 10-Q. Each difference agrees exactly with the three-month columns of the quarterly results release furnished on Form 8-K on July 29, 2026 (accession 0000707549-26-000033, Exhibit 99.1), which is cited for those quarters' income statements and cash flows because it is the filing that prints them. Per-share amounts, share counts and the dividend declared per share cannot be obtained by subtraction and are taken from that release. The fourth-quarter balance sheets are the fiscal year-end balance sheets in the FY2026 10-K.
- Cash flow sourcing for the March quarters: Lam presents cash flows only on a year-to-date basis in its 10-Qs. The quarterly results release furnished on Form 8-K on April 22, 2026 (accession 0000707549-26-000020) presents three-month cash flow columns for the quarters ended March 29, 2026 and March 30, 2025, and is the source of those quarters' cash flow figures; its nine-month columns agree with the 10-Q line for line.
- Cost of revenue: fiscal 2024 carried separate restructuring lines inside cost of goods sold ($43.4 million) and inside operating expenses ($18.2 million). Both are shown separately and are included in total cost of revenue and total operating expenses, matching the filing's own subtotals. No restructuring charges were recorded on those lines in fiscal 2025 or fiscal 2026.
- 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 June 28, 2026 that total was $3.735 billion against $3.750 billion of senior notes at par; the difference reflects unamortized discount and issuance costs, partly offset by finance leases and other financing arrangements. The $750 million of 3.75% senior notes due March 15, 2026 were repaid at maturity in the March 2026 quarter, which is why senior notes at par fell from $4.5 billion to $3.75 billion during fiscal 2026.
- 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. Cash outflows (capital expenditures, dividends paid, treasury stock purchases, debt repayments) and income tax expense are shown as positive amounts.
- Treasury stock purchases: the FY2026 10-K captions the line 'Treasury stock purchases', while the 10-Q and the results releases caption it 'Treasury stock purchases, including excise tax payments'. It is the same line (the 10-K and the July 2026 release both report $3,851.3 million for fiscal 2026), so one name is used for every period.
- Dividends per share are the amounts declared: $0.80 for fiscal 2024, $0.92 for fiscal 2025 and $1.04 for fiscal 2026 (from the captions of the 10-K's statement of stockholders' equity); $0.23 in each of the March and June 2025 quarters and $0.26 in each of the March and June 2026 quarters; $0.69 and $0.78 for the first nine months of fiscal 2025 and fiscal 2026. Dividends paid in the cash flow statement differ slightly from dividends declared because of timing.
- Cash paid for income taxes: the fiscal 2026 amount ($1,334.0 million) is from the table in the FY2026 10-K's income tax note. That note states the fiscal 2025 and fiscal 2024 amounts in its text as $972.5 million and $991.8 million, and they are recorded here at that precision.
- Fiscal 2024 balance sheet coverage is partial by design. The FY2026 10-K's balance sheet presents only fiscal 2026 and fiscal 2025, so for fiscal 2024 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 this filing. Total assets and total debt for that year are left blank rather than estimated.
- Fiscal 2024 was a 53-week year while fiscal 2025 and fiscal 2026 were 52-week years, which flatters fiscal 2024 relative to its neighbours and slightly understates fiscal 2025's growth over it.
- Lam operates in a single reportable business segment (manufacturing and servicing of wafer processing semiconductor manufacturing equipment). The systems versus customer support-related revenue split, the geographic split and the end-market mix are disaggregation disclosures, not segments.
- The end-market mix (foundry, memory, logic/integrated device manufacturing) is Lam's own percentage split of leading- and non-leading-edge equipment and upgrade revenue, not of total revenue, and is reported in whole percentages.
- The deferred revenue backlog figure is the transaction price of contracts not yet recognized as revenue, as tabulated in the revenue note of each filing ($2.434 billion as of June 28, 2026 and $2.221 billion as of March 29, 2026).
- Margins, effective tax rates, free cash flow, total debt 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 noncurrent long-term debt at $3,721,914 thousand as of June 28, 2026 and $3,719,694 thousand as of June 29, 2025 (the senior notes, per the debt note), whereas the balance sheet caption 'Long-term debt and finance lease obligations' reads $3,730,490 thousand and $3,730,194 thousand. This report follows the balance sheet caption.
Uncertainties
- The first and second quarters of fiscal 2025 and fiscal 2026 are not part of this record (see the quarterly coverage note), so a full eight-quarter trend cannot be read from this page alone. The four quarters shown do not sum to any fiscal year.
- The June 2026 and June 2025 quarters' revenue by region is derived by subtraction and is not printed in dollars in any filing. The July 29, 2026 results release gives only whole-percentage regional shares for the June 2026 quarter; the derived amounts round to those percentages for every region except Europe, whose derived share of 4.7% is printed as 4% in the release (the release's percentages sum to 100%).
- The end-market mix for the fourth quarters is not shown. The FY2026 10-K reports the full-year mix (foundry 54%, memory 39%, logic/integrated device manufacturing 7%) and the 10-Q reports the nine-month mix (58%, 36%, 6%), but the percentages are measured on equipment and upgrade revenue, which neither filing states in dollars, so the fourth-quarter mix cannot be derived.
- No separate trailing-twelve-month view is presented: fiscal 2026 ended June 28, 2026, so the trailing twelve months are the fiscal year itself, shown in the annual record.
- Customer concentration is disclosed only annually in the 10-K. In fiscal 2026 four customers each accounted for 10% or more of revenue (approximately 16%, 15%, 12% and 12%); no quarterly concentration figure is available.
- Interest expense sits inside the 'Other income (expense), net' line on the face of the income statement and is not separately broken out there, so it is not shown as its own line.
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 |
Fiscal period
| Fiscal year | 2026 |
|---|---|
| Fiscal period | FY |
| Tag | FY26 |
| Period end | 2026-06-28 |
| Form | 10-K |
| Accession | 0000707549-26-000037 |
| Fiscal year end | 0628 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | yes | 10-K | 2026 | FY | FY26 | 2026-06-28 | 2026-08-07 | 0000707549-26-000037 | facts |
FAQ · Lam Research financial statements
How much revenue did Lam Research report in FY2026?
Lam Research reported revenue of $23.23 billion for FY2026, the fiscal year ended June 28, 2026. That is up 26.0% from $18.44 billion in the prior fiscal year.
What was Lam Research's net income in FY2026?
Lam Research earned net income of $7.27 billion in FY2026, the fiscal year ended June 28, 2026, up 35.6% from $5.36 billion in the prior fiscal year.
What were Lam Research's earnings per share in FY2026?
Lam Research reported diluted earnings per share of $5.76 for FY2026, up 38.8% from $4.15 in the prior fiscal year.
What was Lam Research's gross margin in FY2026?
Lam Research's gross margin was 50.5% in FY2026, up 1.8 points from 48.7% in the prior fiscal year, which the company attributed largely to a favorable customer mix, partly offset by steel and aluminum tariff costs.
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.
← Older: Q3 FY2026 · Newer: Q1 FY2027 →
Related companies
How this page was built
This page was built from four 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.