Stocktoria

LAM RESEARCH CORP LRCX

Nasdaq · stock · Special Industry Machinery, NEC · website · IPO 1984-05-11 · LEI

LAM RESEARCH CORP statistics & valuation

Market cap$474.1B
P / E65.3×
P / S20.4×
P / B38.0×
Dividend yield0.27%
Net margin31.3%
Return on equity58.3%
Net cash$1.9B
Net debt / EBITDA-0.2×
Enterprise value USD$472.2B
EV / EBITDA54.6×
Earnings yield EBIT/EV1.7%
Return on capital46.6%
Graham number -89%$35.80

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($35.80); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
21.20% 21.50% 22.70% 22.40% 26.70% 26.70% 25.90% 25.70% 29.10% 31.30% 2017201820192020202120222023202420252026
Gross margin (%)
45.00% 46.60% 45.10% 45.90% 46.50% 45.70% 44.60% 47.30% 48.70% 50.50% 2017201820192020202120222023202420252026
Operating margin (%)
23.70% 29.00% 25.50% 26.60% 30.60% 31.20% 29.70% 28.60% 32.00% 35.30% 2017201820192020202120222023202420252026
Return on equity (%)
24.90% 36.60% 46.90% 43.50% 64.80% 73.40% 54.90% 44.80% 54.30% 58.30% 2017201820192020202120222023202420252026
Shares outstanding
1.84B 1.81B 1.60B 1.49B 1.45B 1.41B 1.36B 1.32B 1.29B 1.26B 2017201820192020202120222023202420252026
Net debt ($)
$309.1M -$2.14B $771.8M $880.3M $542.7M $1.44B -$371.7M -$880.5M -$1.92B -$1.86B 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
14.00% 19.10% 18.30% 15.50% 24.60% 26.80% 24.00% 20.40% 25.10% 30.90% 2017201820192020202120222023202420252026
Free cash flow margin (%)
2017201820192020202120222023202420252026
Debt / equity (×)
0.39× 0.36× 0.95× 1.12× 0.82× 0.79× 0.60× 0.58× 0.45× 0.30× 2017201820192020202120222023202420252026
EPS ($)
$0.92 $1.32 $1.37 $1.51 $2.69 $3.27 $3.32 $2.90 $4.15 $5.76 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

LAM RESEARCH CORP trades at about 56.6× earnings — above its 10-year norm (10-year range 14.5×–50.9×, median 22.9×).

14.5× 56.6×

Shaded band = 10-year range (14.5×–50.9×); dot = today's 56.6×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin50.5%48.7%47.3%44.6%45.7%46.5%45.9%45.1%46.6%45.0%
Operating margin35.3%32.0%28.6%29.7%31.2%30.6%26.6%25.5%29.0%23.7%
Net margin31.3%29.1%25.7%25.9%26.7%26.7%22.4%22.7%21.5%21.2%
Return on assets30.9%25.1%20.4%24.0%26.8%24.6%15.5%18.3%19.1%14.0%
Return on equity58.3%54.3%44.8%54.9%73.4%64.8%43.5%46.9%36.6%24.9%
Debt / equity0.30×0.45×0.58×0.60×0.79×0.82×1.12×0.95×0.36×0.39×
Current ratio2.632.212.973.162.693.303.433.612.903.10

Computed from company filings · US · as of 2025-06-29. Facts plus Stocktoria's own computed scores — not investment advice.