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LRCX Silicon, IP & Semicap Etch and deposition for memory and logic Open in compare

Lam Research

Lam is a critical supplier for etch and deposition steps used in advanced memory and logic manufacturing.

Price $200.44 Live
1D Change +8.23% 1 day
Market Cap $250.84B Live
Enterprise Value $246.68B Current
Trailing P/E 29.9 TTM
Forward P/E 16.4 Forward
PEG Ratio 0.87x Yahoo est.
Price / Sales 9.6 TTM
EV / Revenue 9.4 TTM
Revenue Growth 54.4% YoY latest qtr
Earnings Growth 76.6% YoY latest qtr
Gross Margin 51.1% TTM
Operating Margin 40.0% TTM
Net Margin 32.3% TTM
ROE 70.1% TTM
Free Cash Flow $4.55B TTM
FCF Margin 17.4% TTM
Debt / Equity 0.27x Latest qtr
Current Ratio 2.48x Latest qtr
Dividend Yield 0.66% Annualized
Next Earnings Jan 27, 2027 Calendar

Metric timing

This page mixes live market data, trailing fundamentals, and latest reported statement data.

Live / market snapshot

Price, 1D change, market cap, and enterprise value are current market-based figures.

TTM / forward

Most valuation and margin cards are trailing twelve months, while forward P/E uses forward consensus.

Latest quarter / dividend cadence

Balance-sheet ratios use the latest reported quarter. Dividend cadence is inferred from recent payout history.

Revenue $23.23B Jun 30, 2026

latest annual revenue

Revenue $8.22B Sep 30, 2026

latest quarterly revenue

Net Income $7.27B Jun 30, 2026

latest annual profit

Net Income $2.75B Sep 30, 2026

latest quarterly profit

Dividend / Share $1.32 Quarterly

annualized per share

Last Dividend $0.33 Sep 23, 2026

latest ex-dividend cash amount

Price chart

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Why it could benefit going forward

  • Lam is a critical supplier for etch and deposition steps used in advanced memory and logic manufacturing.
  • AI-driven HBM and DRAM demand can increase wafer starts and process complexity.
  • More complex chip structures tend to raise etch and deposition intensity.

Moat / edge

  • Strong position in memory process equipment.
  • Large installed base and recurring service revenue.
  • Technical depth in high-aspect-ratio etch and deposition.

What to watch

  • Memory capex recovery.
  • China exposure and export-rule changes.
  • Advanced packaging and gate-all-around opportunities.

Key risks

  • Memory spending is highly cyclical.
  • Policy restrictions can interrupt demand in important markets.

Business snapshot

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. The company offers ALTUS systems to deposit conformal or selective films for tungsten or molybdenum metallization applications; SABRE electrochemical deposition products for copper interconnect transition, which support copper damascene manufacturing; Striker single-wafer atomic layer deposition products for dielectric film solutions; and VECTOR plasma-enhanced chemical vapor deposition (CVD) products. It also provides Akara, a conductor etch system designed to enhance etch precision, selectivity, and defect control; Argos, Prevos, and Selis, which are selective etch systems used in the fabrication of advanced logic and memory devices that require precise control at nanoscale dimensions; Flex for dielectric etch applications; Vantex, a dielectric etch system that provides RF technology and repeatable wafer-to-wafer performance enabled by Equipment Intelligence solutions; Kiyo for conductor etch applications; Syndion for deep silicon etch; and Versys metal products for metal etch processes. In addition, the company offers Coronus bevel clean products to enhance die yield and Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications. Further, it provides Reliant deposition, etch, and clean products; Sense.i platform products; and customer service, spares, and upgrades. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.