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Side-by-side financial comparison of Athene Holding Ltd. (ATHS) and Lam Research (LRCX). Click either name above to swap in a different company.
Athene Holding Ltd. is the larger business by last-quarter revenue ($8.1B vs $5.3B, roughly 1.5× Lam Research). Lam Research runs the higher net margin — 29.8% vs 6.4%, a 23.4% gap on every dollar of revenue. On growth, Athene Holding Ltd. posted the faster year-over-year revenue change (115.1% vs 22.1%). Over the past eight quarters, Athene Holding Ltd.'s revenue compounded faster (19.2% CAGR vs 18.7%).
Athene Holding Ltd. is a leading US-focused retirement services provider. It offers fixed, indexed and variable annuity products plus tailored retirement savings solutions for individual consumers and institutional clients, aiming to help customers secure long-term financial stability for their retirement.
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).
ATHS vs LRCX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.1B | $5.3B |
| Net Profit | $523.0M | $1.6B |
| Gross Margin | — | 49.6% |
| Operating Margin | 16.9% | 33.9% |
| Net Margin | 6.4% | 29.8% |
| Revenue YoY | 115.1% | 22.1% |
| Net Profit YoY | -48.5% | 33.8% |
| EPS (diluted) | — | $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 | $8.1B | $5.3B | ||
| Q3 25 | $8.0B | $5.3B | ||
| Q2 25 | $5.4B | $5.2B | ||
| Q1 25 | $4.2B | $4.7B | ||
| Q4 24 | $3.8B | $4.4B | ||
| Q3 24 | $6.5B | $4.2B | ||
| Q2 24 | $4.7B | $3.9B | ||
| Q1 24 | $5.7B | $3.8B |
| Q4 25 | $523.0M | $1.6B | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $464.0M | $1.7B | ||
| Q1 25 | $465.0M | $1.3B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $625.0M | $1.1B | ||
| Q2 24 | $629.0M | $1.0B | ||
| Q1 24 | $1.2B | $965.8M |
| Q4 25 | — | 49.6% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | — | 50.1% | ||
| Q1 25 | — | 49.0% | ||
| Q4 24 | — | 47.4% | ||
| Q3 24 | — | 48.0% | ||
| Q2 24 | — | 47.5% | ||
| Q1 24 | — | 47.5% |
| Q4 25 | 16.9% | 33.9% | ||
| Q3 25 | 26.8% | 34.4% | ||
| Q2 25 | 12.2% | 33.7% | ||
| Q1 25 | 22.3% | 33.1% | ||
| Q4 24 | 30.4% | 30.5% | ||
| Q3 24 | 25.7% | 30.3% | ||
| Q2 24 | 22.0% | 29.1% | ||
| Q1 24 | 31.1% | 27.9% |
| Q4 25 | 6.4% | 29.8% | ||
| Q3 25 | 15.7% | 29.5% | ||
| Q2 25 | 8.7% | 33.3% | ||
| Q1 25 | 11.1% | 28.2% | ||
| Q4 24 | 26.8% | 27.2% | ||
| Q3 24 | 9.6% | 26.8% | ||
| Q2 24 | 13.5% | 26.4% | ||
| Q1 24 | 20.8% | 25.5% |
| Q4 25 | — | $1.26 | ||
| Q3 25 | — | $1.24 | ||
| Q2 25 | — | $1.34 | ||
| Q1 25 | — | $1.03 | ||
| Q4 24 | — | $0.92 | ||
| Q3 24 | — | $0.86 | ||
| Q2 24 | — | $7.78 | ||
| Q1 24 | — | $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 | — | $6.2B |
| Total DebtLower is stronger | $7.8B | $3.7B |
| Stockholders' EquityBook value | $20.5B | $10.1B |
| Total Assets | $442.2B | $21.4B |
| Debt / EquityLower = less leverage | 0.38× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $6.7B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $5.5B | ||
| Q4 24 | — | $5.7B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $5.8B | ||
| Q1 24 | $15.3B | $5.7B |
| Q4 25 | $7.8B | $3.7B | ||
| Q3 25 | $7.9B | $3.7B | ||
| Q2 25 | $7.9B | $3.7B | ||
| Q1 25 | $6.3B | $3.7B | ||
| Q4 24 | $6.3B | $4.5B | ||
| Q3 24 | $5.7B | $4.5B | ||
| Q2 24 | $5.7B | $4.5B | ||
| Q1 24 | $5.7B | $4.5B |
| Q4 25 | $20.5B | $10.1B | ||
| Q3 25 | $20.4B | $10.2B | ||
| Q2 25 | $18.1B | $9.9B | ||
| Q1 25 | $17.5B | $9.5B | ||
| Q4 24 | $16.4B | $8.8B | ||
| Q3 24 | $17.4B | $8.5B | ||
| Q2 24 | $15.0B | $8.5B | ||
| Q1 24 | $14.8B | $8.0B |
| Q4 25 | $442.2B | $21.4B | ||
| Q3 25 | $429.9B | $21.9B | ||
| Q2 25 | $405.3B | $21.3B | ||
| Q1 25 | $381.5B | $20.0B | ||
| Q4 24 | $363.3B | $19.8B | ||
| Q3 24 | $355.0B | $19.5B | ||
| Q2 24 | $332.6B | $18.7B | ||
| Q1 24 | $320.6B | $18.3B |
| Q4 25 | 0.38× | 0.37× | ||
| Q3 25 | 0.38× | 0.37× | ||
| Q2 25 | 0.43× | 0.38× | ||
| Q1 25 | 0.36× | 0.39× | ||
| Q4 24 | 0.39× | 0.51× | ||
| Q3 24 | 0.33× | 0.53× | ||
| Q2 24 | 0.38× | 0.52× | ||
| Q1 24 | 0.39× | 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 | $3.0B | $1.5B |
| Free Cash FlowOCF − Capex | — | $1.2B |
| FCF MarginFCF / Revenue | — | 22.8% |
| Capex IntensityCapex / Revenue | — | 4.9% |
| Cash ConversionOCF / Net Profit | 5.82× | 0.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0B | $1.5B | ||
| Q3 25 | $636.0M | $1.8B | ||
| Q2 25 | $1.1B | $2.6B | ||
| Q1 25 | $426.0M | $1.3B | ||
| Q4 24 | $386.0M | $741.9M | ||
| Q3 24 | $780.0M | $1.6B | ||
| Q2 24 | $525.0M | $862.4M | ||
| Q1 24 | $185.0M | $1.4B |
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.6B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $553.6M | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $761.7M | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | 22.8% | ||
| Q3 25 | — | 29.9% | ||
| Q2 25 | — | 46.1% | ||
| Q1 25 | — | 21.6% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | — | 35.0% | ||
| Q2 24 | — | 19.7% | ||
| Q1 24 | — | 33.8% |
| Q4 25 | — | 4.9% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 4.3% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.6% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 5.82× | 0.93× | ||
| Q3 25 | 0.51× | 1.13× | ||
| Q2 25 | 2.28× | 1.48× | ||
| Q1 25 | 0.92× | 0.98× | ||
| Q4 24 | 0.38× | 0.62× | ||
| Q3 24 | 1.25× | 1.40× | ||
| Q2 24 | 0.83× | 0.85× | ||
| Q1 24 | 0.16× | 1.43× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATHS
Segment breakdown not available.
LRCX
| System | $3.4B | 63% |
| Customer Supportand Other | $2.0B | 37% |
