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Side-by-side financial comparison of Aptiv (APTV) and Lam Research (LRCX). Click either name above to swap in a different company.
Lam Research is the larger business by last-quarter revenue ($5.3B vs $5.2B, roughly 1.0× Aptiv). Lam Research runs the higher net margin — 29.8% vs 2.7%, a 27.1% gap on every dollar of revenue. On growth, Lam Research posted the faster year-over-year revenue change (22.1% vs 5.0%). Lam Research produced more free cash flow last quarter ($1.2B vs $651.0M). Over the past eight quarters, Lam Research's revenue compounded faster (18.7% CAGR vs 2.5%).
Aptiv PLC is an American automotive technology supplier with headquarters in Schaffhausen, Switzerland. Aptiv grew out of the now-defunct American company, Delphi Automotive Systems, which itself was formerly a component of General Motors.
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).
APTV vs LRCX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.2B | $5.3B |
| Net Profit | $138.0M | $1.6B |
| Gross Margin | 18.7% | 49.6% |
| Operating Margin | 8.2% | 33.9% |
| Net Margin | 2.7% | 29.8% |
| Revenue YoY | 5.0% | 22.1% |
| Net Profit YoY | -48.5% | 33.8% |
| EPS (diluted) | $0.63 | $1.26 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.2B | $5.3B | ||
| Q3 25 | $5.2B | $5.3B | ||
| Q2 25 | $5.2B | $5.2B | ||
| Q1 25 | $4.8B | $4.7B | ||
| Q4 24 | $4.9B | $4.4B | ||
| Q3 24 | $4.9B | $4.2B | ||
| Q2 24 | $5.1B | $3.9B | ||
| Q1 24 | $4.9B | $3.8B |
| Q4 25 | $138.0M | $1.6B | ||
| Q3 25 | $-355.0M | $1.6B | ||
| Q2 25 | $393.0M | $1.7B | ||
| Q1 25 | $-11.0M | $1.3B | ||
| Q4 24 | $268.0M | $1.2B | ||
| Q3 24 | $363.0M | $1.1B | ||
| Q2 24 | $938.0M | $1.0B | ||
| Q1 24 | $218.0M | $965.8M |
| Q4 25 | 18.7% | 49.6% | ||
| Q3 25 | 19.5% | 50.4% | ||
| Q2 25 | 19.1% | 50.1% | ||
| Q1 25 | 19.1% | 49.0% | ||
| Q4 24 | 19.6% | 47.4% | ||
| Q3 24 | 18.6% | 48.0% | ||
| Q2 24 | 19.2% | 47.5% | ||
| Q1 24 | 17.9% | 47.5% |
| Q4 25 | 8.2% | 33.9% | ||
| Q3 25 | -3.4% | 34.4% | ||
| Q2 25 | 9.3% | 33.7% | ||
| Q1 25 | 9.3% | 33.1% | ||
| Q4 24 | 9.8% | 30.5% | ||
| Q3 24 | 10.4% | 30.3% | ||
| Q2 24 | 8.7% | 29.1% | ||
| Q1 24 | 8.5% | 27.9% |
| Q4 25 | 2.7% | 29.8% | ||
| Q3 25 | -6.8% | 29.5% | ||
| Q2 25 | 7.5% | 33.3% | ||
| Q1 25 | -0.2% | 28.2% | ||
| Q4 24 | 5.5% | 27.2% | ||
| Q3 24 | 7.5% | 26.8% | ||
| Q2 24 | 18.6% | 26.4% | ||
| Q1 24 | 4.4% | 25.5% |
| Q4 25 | $0.63 | $1.26 | ||
| Q3 25 | $-1.63 | $1.24 | ||
| Q2 25 | $1.80 | $1.34 | ||
| Q1 25 | $-0.05 | $1.03 | ||
| Q4 24 | $1.22 | $0.92 | ||
| Q3 24 | $1.48 | $0.86 | ||
| Q2 24 | $3.47 | $7.78 | ||
| Q1 24 | $0.79 | $7.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $6.2B |
| Total DebtLower is stronger | $7.5B | $3.7B |
| Stockholders' EquityBook value | $9.2B | $10.1B |
| Total Assets | $23.4B | $21.4B |
| Debt / EquityLower = less leverage | 0.81× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $6.2B | ||
| Q3 25 | $1.6B | $6.7B | ||
| Q2 25 | $1.4B | $6.4B | ||
| Q1 25 | $1.1B | $5.5B | ||
| Q4 24 | $1.6B | $5.7B | ||
| Q3 24 | $1.8B | $6.1B | ||
| Q2 24 | $2.2B | $5.8B | ||
| Q1 24 | $941.0M | $5.7B |
| Q4 25 | $7.5B | $3.7B | ||
| Q3 25 | $7.6B | $3.7B | ||
| Q2 25 | $7.8B | $3.7B | ||
| Q1 25 | $7.6B | $3.7B | ||
| Q4 24 | $7.8B | $4.5B | ||
| Q3 24 | $8.3B | $4.5B | ||
| Q2 24 | $5.5B | $4.5B | ||
| Q1 24 | $4.7B | $4.5B |
| Q4 25 | $9.2B | $10.1B | ||
| Q3 25 | $9.3B | $10.2B | ||
| Q2 25 | $9.7B | $9.9B | ||
| Q1 25 | $9.0B | $9.5B | ||
| Q4 24 | $8.8B | $8.8B | ||
| Q3 24 | $8.9B | $8.5B | ||
| Q2 24 | $11.5B | $8.5B | ||
| Q1 24 | $11.1B | $8.0B |
| Q4 25 | $23.4B | $21.4B | ||
| Q3 25 | $23.5B | $21.9B | ||
| Q2 25 | $23.9B | $21.3B | ||
| Q1 25 | $23.1B | $20.0B | ||
| Q4 24 | $23.5B | $19.8B | ||
| Q3 24 | $24.8B | $19.5B | ||
| Q2 24 | $24.8B | $18.7B | ||
| Q1 24 | $23.6B | $18.3B |
| Q4 25 | 0.81× | 0.37× | ||
| Q3 25 | 0.82× | 0.37× | ||
| Q2 25 | 0.80× | 0.38× | ||
| Q1 25 | 0.85× | 0.39× | ||
| Q4 24 | 0.89× | 0.51× | ||
| Q3 24 | 0.93× | 0.53× | ||
| Q2 24 | 0.48× | 0.52× | ||
| Q1 24 | 0.42× | 0.56× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $818.0M | $1.5B |
| Free Cash FlowOCF − Capex | $651.0M | $1.2B |
| FCF MarginFCF / Revenue | 12.6% | 22.8% |
| Capex IntensityCapex / Revenue | 3.2% | 4.9% |
| Cash ConversionOCF / Net Profit | 5.93× | 0.93× |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $6.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $818.0M | $1.5B | ||
| Q3 25 | $584.0M | $1.8B | ||
| Q2 25 | $510.0M | $2.6B | ||
| Q1 25 | $273.0M | $1.3B | ||
| Q4 24 | $1.1B | $741.9M | ||
| Q3 24 | $499.0M | $1.6B | ||
| Q2 24 | $643.0M | $862.4M | ||
| Q1 24 | $244.0M | $1.4B |
| Q4 25 | $651.0M | $1.2B | ||
| Q3 25 | $441.0M | $1.6B | ||
| Q2 25 | $361.0M | $2.4B | ||
| Q1 25 | $76.0M | $1.0B | ||
| Q4 24 | $894.0M | $553.6M | ||
| Q3 24 | $326.0M | $1.5B | ||
| Q2 24 | $417.0M | $761.7M | ||
| Q1 24 | $-21.0M | $1.3B |
| Q4 25 | 12.6% | 22.8% | ||
| Q3 25 | 8.5% | 29.9% | ||
| Q2 25 | 6.9% | 46.1% | ||
| Q1 25 | 1.6% | 21.6% | ||
| Q4 24 | 18.2% | 12.7% | ||
| Q3 24 | 6.7% | 35.0% | ||
| Q2 24 | 8.3% | 19.7% | ||
| Q1 24 | -0.4% | 33.8% |
| Q4 25 | 3.2% | 4.9% | ||
| Q3 25 | 2.7% | 3.5% | ||
| Q2 25 | 2.9% | 3.3% | ||
| Q1 25 | 4.1% | 6.1% | ||
| Q4 24 | 3.4% | 4.3% | ||
| Q3 24 | 3.6% | 2.7% | ||
| Q2 24 | 4.5% | 2.6% | ||
| Q1 24 | 5.4% | 2.7% |
| Q4 25 | 5.93× | 0.93× | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | 1.30× | 1.48× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | 3.96× | 0.62× | ||
| Q3 24 | 1.37× | 1.40× | ||
| Q2 24 | 0.69× | 0.85× | ||
| Q1 24 | 1.12× | 1.43× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APTV
| Electrical Distribution Systems | $2.3B | 45% |
| Engineered Components Group | $1.4B | 28% |
| Active Safety | $716.0M | 14% |
| User Experience And Other | $564.0M | 11% |
| Smart Vehicle Compute And Software | $154.0M | 3% |
LRCX
| System | $3.4B | 63% |
| Customer Supportand Other | $2.0B | 37% |
