Lam Research (LRCX): financials, SEC filings and peers

Lam Research (LRCX) is a semiconductor materials & equipment company in the Information Technology sector of the S&P 500, headquartered in Fremont, California.

It was founded in 1980 and joined the S&P 500 on June 29, 2012.

Its fiscal year ends in June, and its shares trade on the Nasdaq.

In its SEC filings it is classified as “Special Industry Machinery, NEC”.

Lam Research at a glance

Revenue (12 months): $23.2B
Revenue growth: +26.0%
Operating margin: 35.3%
Net income (12 months): $7.3B
Free cash flow (12 months): $4.9B
Cash: $5.6B
Debt: $3.7B
Diluted EPS (12 months): $5.76

Twelve months to June 28, 2026, from the 10-K filed August 7, 2026.

Latest twelve months

Over the twelve months to June 28, 2026, Lam Research reported revenue of $23.2 billion, up a strong 26.0% from $18.4 billion a year earlier.

Its operating margin was 35.3%, up 3.3 percentage points from a year earlier: for every $100 of sales, about $35 was left as operating profit.

Net income was $7.3 billion (31.3% of revenue), 35.6% higher than a year earlier.

Operating cash flow was $5.9 billion and capital spending $966 million, leaving free cash flow of $4.9 billion (21.1% of revenue).

At the end of the period it held $5.6 billion in cash and $3.7 billion in debt, a net cash position of $1.9 billion.

The diluted share count fell 61.6% in a year, typically the result of buybacks.

Five-year trend

Revenue went from $14.6 billion in fiscal 2021 to $23.2 billion in fiscal 2026, about 9.7% a year.
Operating margin widened from 30.6% to 35.3% over the same years.
Free cash flow was positive in each of the last 6 fiscal years.

Fiscal year	2022	2023	2024	2025	2026
Revenue	$17.2B	$17.4B	$14.9B	$18.4B	$23.2B
Revenue growth	17.8%	1.2%	-14.5%	23.7%	26.0%
Operating margin	31.2%	29.7%	28.6%	32.0%	35.3%
Net income	$4.6B	$4.5B	$3.8B	$5.4B	$7.3B
Free cash flow	$2.6B	$4.7B	$4.3B	$5.4B	$4.9B
Diluted EPS	$32.75	$3.32	$2.90	$4.15	$5.76

Fiscal years as reported in Lam Research’s 10-K filings. Free cash flow is operating cash flow minus capital spending.

Recent SEC filings

8-K filed August 27, 2026 — Executive or director change
10-K filed August 7, 2026 — annual report
8-K filed July 29, 2026 — Earnings results
10-Q filed April 23, 2026 — quarterly report
8-K filed April 22, 2026 — Earnings results
8-K/A filed February 4, 2026 — Executive or director change
8-K filed February 3, 2026 — Executive or director change
10-Q filed January 29, 2026 — quarterly report

All Lam Research filings on SEC EDGAR

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Questions about Lam Research

Is Lam Research's revenue growing?

Yes. Revenue for the twelve months to June 28, 2026 was $23.2 billion, up 26.0% from a year earlier, according to its SEC filings.

Is Lam Research profitable?

Yes. It earned $7.3 billion in net income over the twelve months to June 28, 2026, a net margin of 31.3%.

Does Lam Research have more cash or more debt?

At June 28, 2026 it had $5.6 billion in cash and $3.7 billion in debt, so more cash than debt.

When did Lam Research last file financial results?

Its latest annual report (10-K) was filed with the SEC on August 7, 2026.

Which companies are similar to Lam Research?

In the S&P 500, Lam Research is grouped in Semiconductor Materials & Equipment within the Information Technology sector. Applied Materials (AMAT), KLA Corporation (KLAC), Qnity Electronics (Q), Teradyne (TER) are in the same group.

Understand the numbers

Source: Lam Research’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.