Lam Research Corp
NASDAQ: LRCX · TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS
Updated 2026-06-12
Lam Research Corp (LRCX) Financial statements
SEC filings — annual and quarterly data.
Cash flow — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $360.69M | $823.60M | $590.32M | $-78.13M | $350.71M | $881.03M | $499.03M | $719.93M | $717.05M | $785.50M | $1.35B | $2.03B | $2.66B | $3.18B | $2.13B | $3.59B | $3.10B | $5.18B | $4.65B | $6.17B |
| Capital expenditures | $42.08M | $60.00M | $76.80M | $44.28M | $35.59M | $127.50M | $107.27M | $160.79M | $145.50M | $198.26M | $175.33M | $157.42M | $273.47M | $303.49M | $203.24M | $349.10M | $546.03M | $501.57M | $396.67M | $759.19M |
| Depreciation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Stock-based comp | $22.77M | — | $42.52M | $53.04M | $50.46M | $53.01M | $81.56M | $99.33M | $103.70M | $135.35M | $142.35M | $149.97M | $172.22M | $187.23M | $189.20M | $220.16M | $259.06M | $286.60M | $293.06M | $343.37M |
| Free cash flow | $318.61M | $763.60M | $513.52M | $-122.41M | $315.12M | $753.53M | $391.76M | $559.14M | $571.55M | $587.24M | $1.17B | $1.87B | $2.38B | $2.87B | $1.92B | $3.24B | $2.55B | $4.68B | $4.26B | $5.41B |
| Investing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Financing cash flow | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | $625000.00 | $336000.00 | $1.02B | $0.00 | $0.00 | $0.00 | $116.06M | $190.40M | $243.50M | $307.61M | $678.35M | $656.84M | $726.99M | $815.29M | $907.91M | $1.02B | $1.15B |
| Share repurchases | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Debt repayment | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net change in cash | — | — | — | — | — | $946.37M | $72.62M | $-402.28M | $290.20M | $48.86M | $3.54B | $-2.66B | $2.13B | $-855.16M | $1.26B | $-498.33M | $-866.99M | $1.81B | — | — |
Frequently asked questions
What is Lam Research Corp's revenue?
Lam Research Corp's trailing twelve-month revenue is $21.68B, and consensus projects about $57.40B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is LRCX?
In its most recent fiscal year, LRCX ran a gross margin of 48.71%, an operating margin of 32.01%, and a net margin of 29.06%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does LRCX generate?
LRCX produced $5.41B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is LRCX's balance sheet healthy?
LRCX holds $6.39B in cash and equivalents against $3.72B in long-term debt, on $9.86B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.