Stock · LRCX · Technology
United States · Large Cap · listed since 1984 · Revenue 12 mo. $26.1B
Price as of 11/06/2026
Summary
49.6 of 100
Mean of the six area values. Each area value is the mean of the stock's ranks among the companies in its sector. 50 is the middle of the sector, not a share of companies beaten.
Analysis
What the price requires
If free cash flow stays at €4.4B (2026), it supports €48.8B. The remaining €187.8B of the market value assume it grows 22.0% a year for 10 years and not at all afterwards.
Required FCF growth per year
22.0%
no growth afterwards
Price to operating cash flow 33.2×, above its usual range.
Middle half of 20 quarters: 18.0× to 27.5×, median 20.3×.
Measures only against its own past, not against what the company is worth. Price as of 11/06/2026.
with respect to the priced-in expectation
with respect to the priced-in expectation
AI summary of the 2026 annual report
A language model selected and condensed statements from the report. Each statement carries a verbatim quote. The selection is not complete and shows the state of the report. It gives no rating and does not feed into the score.
Form 10-K, fiscal year ended 06/28/2026, filed 08/07/2026. Open the report at the SEC
The company supplies wafer fabrication equipment and services to the semiconductor industry.
We are a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry.The Customer Support Business Group provides products and services for equipment that customers have already installed.
Our Customer Support Business Group (“CSBG”) provides products and services to maximize installed equipment performance, predictability, and operational efficiency.The Reliant product line offers new and refurbished, less advanced equipment for deposition, etch and clean work that does not need the most advanced wafer processing.
our Reliant® product line offers new and refurbished non-leading edge products in deposition, etch and clean markets for those applications that do not require the most advanced wafer processing capability.Deposition processes create layers of insulating and conducting materials used to build a semiconductor device.
Deposition processes create layers of dielectric (insulating) and metal (conducting) materials used to build a semiconductor device.Etch processes create chip features by removing selected materials such as dielectric, metal and silicon.
Etch processes create chip features by selectively removing dielectric, metal, silicon and poly silicon materials, including films that have been added during deposition.Customers include many of the world's leading semiconductor manufacturers.
Our customers include many of the world’s leading semiconductor manufacturers.Among the company's most significant customers are Micron Technology, Samsung Electronics, SK hynix and Taiwan Semiconductor Manufacturing Company.
Our most significant customers during the fiscal years ending June 28, 2026, June 29, 2025, and June 30, 2024 included Micron Technology, Inc., Samsung Electronics Company, Ltd., SK hynix Inc., and Taiwan Semiconductor Manufacturing Company.Applied Materials is the main competitor in the dielectric and metals deposition market.
Our primary competitor in the dielectric and metals deposition market is Applied Materials, Inc.In etch, the main competitors are Applied Materials, Hitachi and Tokyo Electron.
In the etch market, our primary competitors are Applied Materials, Inc.; Hitachi, Ltd.; and Tokyo Electron, Ltd.Chip makers judge equipment suppliers in many areas, including process performance, productivity, defect control, customer support and overall cost of ownership, among others.
Semiconductor manufacturers evaluate capital equipment suppliers in many areas, including but not limited to process performance, productivity, defect control, customer support, and overall cost of ownershipRevenue in China, including global customers and Chinese customers with plants in China, was approximately 34%, 34% and 42% of total revenue for fiscal 2026, 2025 and 2024.
Revenue in China, which includes global customers and domestic Chinese customers with manufacturing facilities in China, represented approximately 34%, 34%, and 42% of our total revenue for fiscal years 2026, 2025, and 2024, respectively.Certain of the company's international sales depend on getting export licenses from the U.S. or foreign governments.
Certain of our international sales depend on our ability to obtain export licenses from the U.S. or foreign governments.Sales to a limited number of large customers make up a significant part of total shipments, revenue, cash flows and profitability.
Sales to a limited number of large customers constitute a significant portion of our overall shipments, revenue, cash flows, and profitability.A substantial share of revenue comes from a limited number of products.
We derive a substantial percentage of our revenues from a limited number of products.Certain components and sub-assemblies may only be available from a single supplier.
Certain components and sub-assemblies that we include in our products may only be obtained from a single supplier.Since the last quarter
Q2 → Q3 2026
2 more unchanged: Gross margin, Shares outstanding
Derivation
Each area value is the average of its metrics' ranks within the sector (0 to 100, 50 is the middle). For metrics where lower is better, the rank is mirrored. The overall value is the average of the area values.
Price as of 11/06/2026.
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Return on equity | 58.26% | 14.60% | Rank 92 |
| Return on capital (Greenblatt) | 64.92% | 29.77% | Rank 71 |
| EBIT margin | 35.29% | 17.40% | Rank 88 |
| FCF margin | 21.05% | 18.54% | Rank 62 |
| Gross margin | 50.47% | 48.47% | Rank 54 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Revenue growth, 1 year | 26.02% | 12.70% | Rank 80 |
| Earnings growth, 3 years per year | 20.16% | 9.54% | Rank 73 |
| Earnings growth, 5 years per year | 16.46% | 14.07% | Rank 57 |
| Sustainable growth (ROE × retained earnings) | 4.16% | 2.87% | Rank 60 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Earnings yield | 2.87% | 2.64% | Rank 55 |
| FCF yield | 1.86% | 3.06% | Rank 32 |
| EV/saleslower is better | 11.28 | 5.18 | Rank 22 |
| EV/EBITlower is better | 31.97 | 26.24 | Rank 40 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Share price, 1 year | 13.98% | −0.59% | Rank 69 |
| Share price, 6 months | −31.35% | −4.46% | Rank 17 |
| Share price, 3 months | −30.49% | −5.84% | Rank 13 |
| Distance from 52-week high | −53.74% | −33.23% | Rank 16 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Accruals (Sloan)lower is better | 10.38% | 1.65% | Rank 21 |
| Change in share countlower is better | −2.25% | −0.17% | Rank 81 |
| Dividend streak in years | 11 | 8 | Rank 74 |
| Price reaction to results, market-adjusted | −10.64% | −1.57% | Rank 10 |
| Metric | Stock | Sector median | Position in sector |
|---|---|---|---|
| Equity ratio | 53.00% | 53.98% | Rank 49 |
| Net debt/EBITDAlower is better | −0.17 | −0.20 | Rank 50 |
| Debt to equitylower is better | 0.33 | 0.33 | Rank 51 |
| Volatility, 1 yearlower is better | 66.01% | 50.37% | Rank 28 |
Ten years in figures
| Year | Revenue, $B | EBIT margin | FCF, $B | Shares | Net debt |
|---|---|---|---|---|---|
| 2017 | 8.0 | 23.7% | 1.9 | 1.84B | $315.9M |
| 2018 | 11.1 | 29.0% | 2.4 | 1.81B | −$2.1B |
| 2019 | 9.7 | 25.5% | 2.9 | 1.60B | $831.7M |
| 2020 | 10.0 | 26.6% | 1.9 | 1.49B | $895.6M |
| 2021 | 14.6 | 30.6% | 3.2 | 1.45B | $583.4M |
| 2022 | 17.2 | 31.2% | 2.6 | 1.41B | $1.5B |
| 2023 | 17.4 | 29.7% | 4.7 | 1.36B | −$325.5M |
| 2024 | 14.9 | 28.6% | 4.3 | 1.32B | −$864.5M |
| 2025 | 18.4 | 32.0% | 5.4 | 1.29B | −$1.6B |
| 2026 | 23.2 | 35.3% | 4.9 | 1.26B | −$1.5B |
5 of 7 StockScorer Score rules met · How the score is built
Lam Research Corp mainly meets criteria in the Profitability category. Result from 18 strategies checked.
Lam Research Corp is rated here with the StockScorer Score strategy, the flagship rule set. It compares return and cash-flow metrics with the median of the company's own sector and checks growth and price trend.
5 of 7 rules met
8 of 11 points
Detail data
Excerpt from 18 strategies checked. The full evaluation is visible after a free sign-up.
With a free account, you can see the match across all strategies checked in one complete overview.
Selected fundamental metrics for Lam Research Corp.
| Metric | Stock | Sector |
|---|---|---|
| P/E ratio | 34.8 | 35.1 |
| P/B ratio | 20.3 | 5.5 |
| Return on equity (ROE) | 58.3% | 14.6% |
| Equity ratio | 53.0% | 54.0% |
| Debt-to-equity (D/E) | 0.33 | 0.33 |
| Dividend yield | 0.6% | 0.9% |
How comparable stocks in the same sector score in the StockScorer model.
| Symbol | Company | Rating |
|---|---|---|
| LRCX | Lam Research Corpthis page | |
| AMAT | Applied Materials Inc | Medium5.5 |
| KLAC | KLA Corporation | Medium5.5 |
| 6857.T | Advantest Corp. | locked |
| 8035.T | Tokyo Electron Limited | locked |
| ASML.AS | ASML Holding N.V. | locked |
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