Lam Research Corp

  • Earnings Score
  • Moat Score
  • Safety Score
  • Final Score
  • Market Cap $989.51B
  • PE 244
  • Debt $4.98B
  • Cash $6.07B
  • EV $988.42B
  • FCF $4.84B

Earnings

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Sales & Net Margins

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Earnings$4.06B
EBIT$4.63B
ROE48%
ROA24%
FCF$4.84B
Equity$8.47B
Growth Stability88%
PE243.91
PEG18.08
PB116.8
P/FCF204.47
P/S63.47
Price/Cash0.01
Debt/Equity0.59
Debt/FCF1.03
Net Margins27%
Gross Margins47%
Op. Margins30%
Earnings CAGR21%
Sales Growth YoY20%
Sales Growth QoQ8%
Sales CAGR13%
FCF CAGR16%
Equity CAGR4%
Earnings Stability0.81
Earnings Growth YoY26%
Earnings Growth QoQ9%
Earnings CAGR 5Y13%
Sales CAGR 5Y11%
FCF CAGR 5Y21%
Equity CAGR 5Y15%
Earnings CAGR 3Y-6%
Sales CAGR 3Y-6%
FCF CAGR 3Y17%
Equity CAGR 3Y12%
Market Cap$989.51B
Revenue$15.59B
Dividend Yield0%
Payout Ratio27%
Assets$19.53B
Total Debt$4.98B
Cash$6.07B
Shares Outstanding12.92B
EV988.42B
Earnings Score93%
Moat Score97%
Safety Score94%
Final Score95%
Working Capital8.15B
Current Ratio2.53
Gross Profit$7.40B
Shares Growth 3y-3%
Equity Growth QoQ-1%
Equity Growth YoY5%

Assets & ROA

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Stockholders Equity & ROE

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Lam Research manufactures equipment used to fabricate semiconductors. The firm is focused on the etch, deposition, and clean markets, which are key steps in the semiconductor manufacturing process, especially for 3D NAND flash storage, advanced DRAM, and leading-edge logic/foundry chipmakers. Lam's flagship Kiyo, Vector, and Sabre products are sold in all major geographies to key customers such as Samsung Electronics, Micron, Intel, and Taiwan Semiconductor Manufacturing.

SEC Filings

Direct access to Lam Research Corp (LRCX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

  • 2024
    • 10-Q Sep 29
    • 10-K Jun 30
    • 10-Q Mar 31
  • 2023
    • 10-Q Dec 24
    • 10-Q Sep 24
    • 10-K Jun 25
    • 10-Q Mar 26
  • 2022
    • 10-Q Dec 25
    • 10-Q Sep 25
    • 10-K Jun 26
    • 10-Q Mar 27

Sector Comparison

How does Lam Research Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Lam Research Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 21%
Stability 81%
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Lam Research Corp Discounted Cash Flow

Fully customizable DCF calculator online for Lam Research Corp.

= $150B
012345678910TV
fcf$4.8B$5.6B$6.5B$7.6B$8.8B$10B$12B$14B$16B$19B$22B$217B
DCF$5.1B$5.4B$5.7B$6B$6.4B$6.7B$7.1B$7.5B$7.9B$8.4B$84B
Value$150B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years06/201506/201606/201706/201806/201906/202006/202106/202206/202306/2024TTM
Net Margins12%16%21%21%23%22%27%27%26%26%27%
ROA-9%16%26%21%19%29%31%28%23%24%
ROE-16%25%37%47%44%65%73%55%45%48%

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years06/201506/201606/201706/201806/201906/202006/202106/202206/202306/2024TTM
Debt over FCF-4.682.021.31.83.481.551.961.071.291.03
Debt over Equity0.780.930.560.481.111.290.830.80.610.640.59
Growth Stability---100%100%100%100%100%100%88%88%

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years06/201506/201606/201706/201806/201906/202006/202106/202206/202306/2024CAGR 5Y
Revenue YoY growth-12%36%38%-13%4%46%18%1%-14%11%
Earnings YoY growth-39%86%40%-8%3%74%18%-2%-15%13%
Equity YoY growth-16%16%-5%-28%11%17%4%31%4%15%
FCF YoY growth-100%59%27%21%-33%68%-21%83%-9%21%