vs
Side-by-side financial comparison of Lam Research (LRCX) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Lam Research is the larger business by last-quarter revenue ($5.3B vs $4.6B, roughly 1.2× Principal Financial Group). Lam Research runs the higher net margin — 29.8% vs 11.3%, a 18.5% gap on every dollar of revenue. On growth, Lam Research posted the faster year-over-year revenue change (22.1% vs -3.7%). Over the past eight quarters, Lam Research's revenue compounded faster (18.7% CAGR vs 6.3%).
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).
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
LRCX vs PFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.3B | $4.6B |
| Net Profit | $1.6B | $517.0M |
| Gross Margin | 49.6% | — |
| Operating Margin | 33.9% | — |
| Net Margin | 29.8% | 11.3% |
| Revenue YoY | 22.1% | -3.7% |
| Net Profit YoY | 33.8% | -42.9% |
| EPS (diluted) | $1.26 | $2.30 |
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 | $5.3B | $4.6B | ||
| Q3 25 | $5.3B | $3.7B | ||
| Q2 25 | $5.2B | $3.7B | ||
| Q1 25 | $4.7B | $3.7B | ||
| Q4 24 | $4.4B | $4.8B | ||
| Q3 24 | $4.2B | $3.0B | ||
| Q2 24 | $3.9B | $4.3B | ||
| Q1 24 | $3.8B | $4.1B |
| Q4 25 | $1.6B | $517.0M | ||
| Q3 25 | $1.6B | $213.8M | ||
| Q2 25 | $1.7B | $406.2M | ||
| Q1 25 | $1.3B | $48.1M | ||
| Q4 24 | $1.2B | $905.4M | ||
| Q3 24 | $1.1B | $-220.0M | ||
| Q2 24 | $1.0B | $353.1M | ||
| Q1 24 | $965.8M | $532.5M |
| 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 | 33.9% | — | ||
| Q3 25 | 34.4% | — | ||
| Q2 25 | 33.7% | — | ||
| Q1 25 | 33.1% | — | ||
| Q4 24 | 30.5% | — | ||
| Q3 24 | 30.3% | — | ||
| Q2 24 | 29.1% | — | ||
| Q1 24 | 27.9% | — |
| Q4 25 | 29.8% | 11.3% | ||
| Q3 25 | 29.5% | 5.8% | ||
| Q2 25 | 33.3% | 11.1% | ||
| Q1 25 | 28.2% | 1.3% | ||
| Q4 24 | 27.2% | 19.1% | ||
| Q3 24 | 26.8% | -7.3% | ||
| Q2 24 | 26.4% | 8.2% | ||
| Q1 24 | 25.5% | 13.1% |
| Q4 25 | $1.26 | $2.30 | ||
| Q3 25 | $1.24 | $0.95 | ||
| Q2 25 | $1.34 | $1.79 | ||
| Q1 25 | $1.03 | $0.21 | ||
| Q4 24 | $0.92 | $3.92 | ||
| Q3 24 | $0.86 | $-0.95 | ||
| Q2 24 | $7.78 | $1.49 | ||
| Q1 24 | $7.34 | $2.22 |
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 | $4.4B |
| Total DebtLower is stronger | $3.7B | $3.9B |
| Stockholders' EquityBook value | $10.1B | $11.9B |
| Total Assets | $21.4B | $341.4B |
| Debt / EquityLower = less leverage | 0.37× | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $6.2B | $4.4B | ||
| Q3 25 | $6.7B | $5.1B | ||
| Q2 25 | $6.4B | $3.7B | ||
| Q1 25 | $5.5B | $3.9B | ||
| Q4 24 | $5.7B | $4.2B | ||
| Q3 24 | $6.1B | $6.2B | ||
| Q2 24 | $5.8B | $4.8B | ||
| Q1 24 | $5.7B | $4.2B |
| Q4 25 | $3.7B | $3.9B | ||
| Q3 25 | $3.7B | $3.9B | ||
| Q2 25 | $3.7B | $3.9B | ||
| Q1 25 | $3.7B | $4.3B | ||
| Q4 24 | $4.5B | $4.0B | ||
| Q3 24 | $4.5B | $3.9B | ||
| Q2 24 | $4.5B | $3.9B | ||
| Q1 24 | $4.5B | $3.9B |
| Q4 25 | $10.1B | $11.9B | ||
| Q3 25 | $10.2B | $11.7B | ||
| Q2 25 | $9.9B | $11.4B | ||
| Q1 25 | $9.5B | $11.2B | ||
| Q4 24 | $8.8B | $11.1B | ||
| Q3 24 | $8.5B | $11.2B | ||
| Q2 24 | $8.5B | $11.0B | ||
| Q1 24 | $8.0B | $11.2B |
| Q4 25 | $21.4B | $341.4B | ||
| Q3 25 | $21.9B | $334.5B | ||
| Q2 25 | $21.3B | $323.1B | ||
| Q1 25 | $20.0B | $313.0B | ||
| Q4 24 | $19.8B | $313.7B | ||
| Q3 24 | $19.5B | $322.9B | ||
| Q2 24 | $18.7B | $308.8B | ||
| Q1 24 | $18.3B | $308.7B |
| Q4 25 | 0.37× | 0.33× | ||
| Q3 25 | 0.37× | 0.34× | ||
| Q2 25 | 0.38× | 0.34× | ||
| Q1 25 | 0.39× | 0.39× | ||
| Q4 24 | 0.51× | 0.36× | ||
| Q3 24 | 0.53× | 0.35× | ||
| Q2 24 | 0.52× | 0.36× | ||
| Q1 24 | 0.56× | 0.35× |
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 | $1.5B | $1.7B |
| Free Cash FlowOCF − Capex | $1.2B | — |
| FCF MarginFCF / Revenue | 22.8% | — |
| Capex IntensityCapex / Revenue | 4.9% | — |
| Cash ConversionOCF / Net Profit | 0.93× | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | $6.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $1.7B | ||
| Q3 25 | $1.8B | $1.0B | ||
| Q2 25 | $2.6B | $811.9M | ||
| Q1 25 | $1.3B | $977.3M | ||
| Q4 24 | $741.9M | $1.5B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $862.4M | $1.4B | ||
| Q1 24 | $1.4B | $584.2M |
| 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 | 0.93× | 3.37× | ||
| Q3 25 | 1.13× | 4.70× | ||
| Q2 25 | 1.48× | 2.00× | ||
| Q1 25 | 0.98× | 20.32× | ||
| Q4 24 | 0.62× | 1.61× | ||
| Q3 24 | 1.40× | — | ||
| Q2 24 | 0.85× | 4.05× | ||
| Q1 24 | 1.43× | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LRCX
| System | $3.4B | 63% |
| Customer Supportand Other | $2.0B | 37% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
