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Side-by-side financial comparison of Expeditors International (EXPD) 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 $2.9B, roughly 1.9× Expeditors International). Lam Research runs the higher net margin — 29.8% vs 7.0%, a 22.8% gap on every dollar of revenue. On growth, Lam Research posted the faster year-over-year revenue change (22.1% vs -3.3%). Lam Research produced more free cash flow last quarter ($1.2B vs $270.3M). Over the past eight quarters, Lam Research's revenue compounded faster (18.7% CAGR vs 13.8%).
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
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).
EXPD vs LRCX — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $5.3B |
| Net Profit | $200.7M | $1.6B |
| Gross Margin | — | 49.6% |
| Operating Margin | 8.8% | 33.9% |
| Net Margin | 7.0% | 29.8% |
| Revenue YoY | -3.3% | 22.1% |
| Net Profit YoY | -14.9% | 33.8% |
| EPS (diluted) | $1.50 | $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 | $2.9B | $5.3B | ||
| Q3 25 | $2.9B | $5.3B | ||
| Q2 25 | $2.7B | $5.2B | ||
| Q1 25 | $2.7B | $4.7B | ||
| Q4 24 | $3.0B | $4.4B | ||
| Q3 24 | $3.0B | $4.2B | ||
| Q2 24 | $2.4B | $3.9B | ||
| Q1 24 | $2.2B | $3.8B |
| Q4 25 | $200.7M | $1.6B | ||
| Q3 25 | $222.3M | $1.6B | ||
| Q2 25 | $183.6M | $1.7B | ||
| Q1 25 | $203.8M | $1.3B | ||
| Q4 24 | $235.9M | $1.2B | ||
| Q3 24 | $229.6M | $1.1B | ||
| Q2 24 | $175.5M | $1.0B | ||
| Q1 24 | $169.2M | $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 | 8.8% | 33.9% | ||
| Q3 25 | 10.0% | 34.4% | ||
| Q2 25 | 9.3% | 33.7% | ||
| Q1 25 | 10.0% | 33.1% | ||
| Q4 24 | 10.2% | 30.5% | ||
| Q3 24 | 10.1% | 30.3% | ||
| Q2 24 | 9.2% | 29.1% | ||
| Q1 24 | 9.7% | 27.9% |
| Q4 25 | 7.0% | 29.8% | ||
| Q3 25 | 7.7% | 29.5% | ||
| Q2 25 | 6.9% | 33.3% | ||
| Q1 25 | 7.6% | 28.2% | ||
| Q4 24 | 8.0% | 27.2% | ||
| Q3 24 | 7.7% | 26.8% | ||
| Q2 24 | 7.2% | 26.4% | ||
| Q1 24 | 7.7% | 25.5% |
| Q4 25 | $1.50 | $1.26 | ||
| Q3 25 | $1.64 | $1.24 | ||
| Q2 25 | $1.34 | $1.34 | ||
| Q1 25 | $1.47 | $1.03 | ||
| Q4 24 | $1.68 | $0.92 | ||
| Q3 24 | $1.63 | $0.86 | ||
| Q2 24 | $1.24 | $7.78 | ||
| Q1 24 | $1.17 | $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 | $1.3B | $6.2B |
| Total DebtLower is stronger | — | $3.7B |
| Stockholders' EquityBook value | $2.4B | $10.1B |
| Total Assets | $4.9B | $21.4B |
| Debt / EquityLower = less leverage | — | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $6.2B | ||
| Q3 25 | $1.2B | $6.7B | ||
| Q2 25 | $1.2B | $6.4B | ||
| Q1 25 | $1.3B | $5.5B | ||
| Q4 24 | $1.1B | $5.7B | ||
| Q3 24 | $1.3B | $6.1B | ||
| Q2 24 | $1.3B | $5.8B | ||
| Q1 24 | $1.4B | $5.7B |
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
| Q4 25 | $2.4B | $10.1B | ||
| Q3 25 | $2.3B | $10.2B | ||
| Q2 25 | $2.2B | $9.9B | ||
| Q1 25 | $2.3B | $9.5B | ||
| Q4 24 | $2.2B | $8.8B | ||
| Q3 24 | $2.4B | $8.5B | ||
| Q2 24 | $2.2B | $8.5B | ||
| Q1 24 | $2.2B | $8.0B |
| Q4 25 | $4.9B | $21.4B | ||
| Q3 25 | $4.8B | $21.9B | ||
| Q2 25 | $4.8B | $21.3B | ||
| Q1 25 | $4.8B | $20.0B | ||
| Q4 24 | $4.8B | $19.8B | ||
| Q3 24 | $5.2B | $19.5B | ||
| Q2 24 | $4.8B | $18.7B | ||
| Q1 24 | $4.5B | $18.3B |
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.38× | ||
| Q1 25 | — | 0.39× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 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 | $283.3M | $1.5B |
| Free Cash FlowOCF − Capex | $270.3M | $1.2B |
| FCF MarginFCF / Revenue | 9.5% | 22.8% |
| Capex IntensityCapex / Revenue | 0.5% | 4.9% |
| Cash ConversionOCF / Net Profit | 1.41× | 0.93× |
| TTM Free Cash FlowTrailing 4 quarters | $953.4M | $6.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $283.3M | $1.5B | ||
| Q3 25 | $201.4M | $1.8B | ||
| Q2 25 | $179.2M | $2.6B | ||
| Q1 25 | $342.6M | $1.3B | ||
| Q4 24 | $249.7M | $741.9M | ||
| Q3 24 | $90.0M | $1.6B | ||
| Q2 24 | $126.8M | $862.4M | ||
| Q1 24 | $256.9M | $1.4B |
| Q4 25 | $270.3M | $1.2B | ||
| Q3 25 | $190.3M | $1.6B | ||
| Q2 25 | $163.3M | $2.4B | ||
| Q1 25 | $329.5M | $1.0B | ||
| Q4 24 | $239.7M | $553.6M | ||
| Q3 24 | $77.7M | $1.5B | ||
| Q2 24 | $118.8M | $761.7M | ||
| Q1 24 | $246.7M | $1.3B |
| Q4 25 | 9.5% | 22.8% | ||
| Q3 25 | 6.6% | 29.9% | ||
| Q2 25 | 6.2% | 46.1% | ||
| Q1 25 | 12.4% | 21.6% | ||
| Q4 24 | 8.1% | 12.7% | ||
| Q3 24 | 2.6% | 35.0% | ||
| Q2 24 | 4.9% | 19.7% | ||
| Q1 24 | 11.2% | 33.8% |
| Q4 25 | 0.5% | 4.9% | ||
| Q3 25 | 0.4% | 3.5% | ||
| Q2 25 | 0.6% | 3.3% | ||
| Q1 25 | 0.5% | 6.1% | ||
| Q4 24 | 0.3% | 4.3% | ||
| Q3 24 | 0.4% | 2.7% | ||
| Q2 24 | 0.3% | 2.6% | ||
| Q1 24 | 0.5% | 2.7% |
| Q4 25 | 1.41× | 0.93× | ||
| Q3 25 | 0.91× | 1.13× | ||
| Q2 25 | 0.98× | 1.48× | ||
| Q1 25 | 1.68× | 0.98× | ||
| Q4 24 | 1.06× | 0.62× | ||
| Q3 24 | 0.39× | 1.40× | ||
| Q2 24 | 0.72× | 0.85× | ||
| Q1 24 | 1.52× | 1.43× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
LRCX
| System | $3.4B | 63% |
| Customer Supportand Other | $2.0B | 37% |
