Lam ResearchLRCXEarnings & Financial Report
Lam Research Corporation is an American supplier of wafer-fabrication equipment and related services to the semiconductor industry. Its products are used primarily in front-end wafer processing, which involves the steps that create the active components of semiconductor devices and their wiring (interconnects). The company also builds equipment for back-end wafer-level packaging (WLP) and for related manufacturing markets such as for microelectromechanical systems (MEMS).
Revenue
$3.9B
Gross Profit
$1.8B
Operating Profit
$1.1B
Net Profit
$1.0B
Gross Margin
47.5%
Operating Margin
29.1%
Net Margin
26.4%
YoY Growth
20.7%
EPS
$7.78
Lam Research Q4 FY2024 Financial Summary
Lam Research reported revenue of $3.9B (up 20.7% YoY) for Q4 FY2024, with a net profit of $1.0B (up 27.1% YoY) (26.4% margin). Cost of goods sold was $2.0B, operating expenses totaled $713.5M.
Key Financial Metrics
| Total Revenue | $3.9B |
|---|---|
| Net Profit | $1.0B |
| Gross Margin | 47.5% |
| Operating Margin | 29.1% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
Lam Research Q4 FY2024 revenue of $3.9B breaks down across 2 segments, led by System at $2.2B (56.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| System | $2.2B | 56.0% |
| Customer Supportand Other | $1.7B | 44.0% |
Lam Research Revenue by Segment — Quarterly Trend
Lam Research revenue by segment across the last 4 reported quarters, showing how each business line (such as System and Customer Supportand Other) has evolved quarter over quarter.
| Segment | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 |
|---|---|---|---|---|
| System | — | $3.4B | $3.5B | $3.4B |
| Customer Supportand Other | — | $2.0B | $1.8B | $1.7B |
Lam Research Annual Revenue by Year
Lam Research annual revenue history includes year-by-year totals (for example, 2025 revenue was $18.4B).
| Year | Annual Revenue |
|---|---|
| 2025 | $18.4B |
| 2024 | $14.9B |
Lam Research Quarterly Revenue & Net Profit History
Lam Research results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 FY2026 | $5.8B | +23.8% | $1.8B | 31.2% |
| Q2 FY2026 | $5.3B | +22.1% | $1.6B | 29.8% |
| Q1 FY2026 | $5.3B | +27.7% | $1.6B | 29.5% |
| Q4 FY2025 | $5.2B | +33.6% | $1.7B | 33.3% |
| Q3 FY2025 | $4.7B | +24.4% | $1.3B | 28.2% |
| Q2 FY2025 | $4.4B | +16.4% | $1.2B | 27.2% |
| Q1 FY2025 | $4.2B | +19.7% | $1.1B | 26.8% |
| Q4 FY2024 | $3.9B | +20.7% | $1.0B | 26.4% |
Income Statement
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.87B | $4.17B | $4.38B | $4.72B | $5.17B | $5.32B | $5.34B | $5.84B |
| YoY Growth | 20.7% | 19.7% | 16.4% | 24.4% | 33.6% | 27.7% | 22.1% | 23.8% |
Balance Sheet
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $18.74B | $19.53B | $19.84B | $19.97B | $21.35B | $21.90B | $21.39B | $20.79B |
| Liabilities | $10.21B | $11.06B | $11.03B | $10.46B | $11.48B | $11.71B | $11.25B | $10.21B |
| Equity | $8.54B | $8.47B | $8.81B | $9.51B | $9.86B | $10.19B | $10.15B | N/A |
Cash Flow
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $862.4M | $1.57B | $741.9M | $1.31B | $2.55B | $1.78B | $1.48B | $1.14B |