LRCX Stock Analysis: Lam Research | NASDAQ
Semiconductor Equipment & Materials | NASDAQ, USA | Market Cap: 439.463m USD | 12M Return: 258.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.23B
EPS Trend: 86.9%
Qual. Beats: 9
Rev. Trend: 78.3%
Qual. Beats: 7
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Lam Research Corporation (LRCX) is a U.S.-based supplier of semiconductor processing equipment, serving chip manufacturers across major markets including the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. Founded in 1980 and headquartered in Fremont, California, the company operates within the semiconductor materials and equipment segment of the Information Technology sector, a capital-equipment industry whose sales are tightly linked to global wafer fab investment cycles.
Its product portfolio is organized around four core process steps: deposition (ALTUS, SABRE, SPEED, Striker, and VECTOR systems for tungsten, molybdenum, copper, and dielectric films), etch (Flex, Vantex, Kiyo, Syndion, and Versys for dielectric, conductor, through-silicon via, and metal etch), and wafer cleaning (Coronus bevel clean, Da Vinci, DV-Prime, EOS, and SP series). Beyond new equipment, Lam generates recurring revenue through refurbished systems, spares, upgrades, and customer service, with newer offerings such as the Sense.i platform and Equipment Intelligence software embedding data-driven features into its tools. This mix of process-critical hardware and ongoing service support is characteristic of wafer fab equipment vendors, where tool shipments to leading foundries and memory manufacturers drive a large share of revenue.
- China export curbs cap advanced tool shipments to domestic fabs
- DRAM and NAND capex recovery boosts deposition and etch demand
- Gross margins expand as Sense.i platform and advanced node mix improve
| Net Income: 6.71b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.31 > 0.02 and ΔFCF/TA 10.53 > 1.0 |
| NWC/Revenue: 37.15% < 20% (prev 46.51%; Δ -9.37% < -1%) |
| CFO/TA 0.33 > 3% & CFO 6.95b > Net Income 6.71b |
| Net Debt (-1.00b) to EBITDA (7.99b): -0.13 < 3 |
| Current Ratio: 2.54 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.26b) vs 12m ago -2.39% < -2% |
| Gross Margin: 49.98% > 18% (prev 48.03%; Δ 1.95% > 0.5%) |
| Asset Turnover: 106.4% > 50% (prev 85.81%; Δ 20.57% > 0%) |
| Interest Coverage Ratio: 45.31 > 6 (EBIT TTM 7.57b / Interest Expense TTM 167.1m) |
| A: 0.39 (Total Current Assets 13.3b - Total Current Liabilities 5.24b) / Total Assets 20.8b |
| B: 1.59 (Retained Earnings 33.0b / Total Assets 20.8b) |
| C: 0.37 (EBIT TTM 7.57b / Avg Total Assets 20.4b) |
| D: 1.04 (Book Value of Equity 10.6b / Total Liabilities 10.2b) |
| Altman-Z'' = 11.30 = AAA |
| DSRI: 1.01 (Receivables 4.13b/3.23b, Revenue 21.7b/17.1b) |
| GMI: 0.96 (GM 48.03% / 49.98%) |
| AQI: 1.08 (AQ_t 0.22 / AQ_t-1 0.21) |
| SGI: 1.27 (Revenue 21.7b / 17.1b) |
| TATA: -0.01 (NI 6.71b - CFO 6.95b) / TA 20.8b) |
| Beneish M = -2.82 (Cap -4..+1) = A |
As of July 07, 2026, the stock is trading at USD 350.20 with a total of 10,908,623 shares traded. Over the past week, the price has changed by -7.62%, over one month by +8.01%, over three months by +58.82% and over the past year by +258.81%.
Current recommended Stop Loss: 280.20 (which is 20% or 2.4 ATR below the current price).
Lam Research has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy LRCX.
- StrongBuy: 20
- Buy: 4
- Hold: 9
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 348.7 | -0.4% |
P/E Trailing = 66.1789
P/E Forward = 49.2611
P/S = 20.2687
P/B = 46.2266
P/EG = 2.2581
Revenue TTM = 21.7b USD
EBIT TTM = 7.57b USD
EBITDA TTM = 7.99b USD
Long Term Debt = 3.73b USD (from longTermDebt, last quarter)
Short Term Debt = 4.09m USD (from shortTermDebt, last quarter)
Debt = 3.75b USD (from shortLongTermDebtTotal, last quarter) + Leases 15.1m
Net Debt = -1.00b USD (calculated: Debt 3.75b - CCE 4.75b)
Enterprise Value = 438b USD (439b + Debt 3.75b - CCE 4.75b)
Interest Coverage Ratio = 45.31 (Ebit TTM 7.57b / Interest Expense TTM 167.1m)
EV/FCF = 67.97x (Enterprise Value 438b / FCF TTM 6.45b)
FCF Yield = 1.47% (FCF TTM 6.45b / Enterprise Value 438b)
FCF Margin = 29.75% (FCF TTM 6.45b / Revenue TTM 21.7b)
Net Margin = 30.94% (Net Income TTM 6.71b / Revenue TTM 21.7b)
Gross Margin = 49.98% ((Revenue TTM 21.7b - Cost of Revenue TTM 10.8b) / Revenue TTM)
Gross Margin QoQ = 49.83% (prev 49.60%)
Tobins Q-Ratio = 21.09 (Enterprise Value 438b / Total Assets 20.8b)
Interest Expense / Debt = 4.46% (Interest Expense 167.1m / Debt 3.75b)
Taxrate = 10.39% (778.1m / 7.49b)
NOPAT = 6.78b (EBIT 7.57b * (1 - 10.39%))
Current Ratio = 2.54 (Total Current Assets 13.3b / Total Current Liabilities 5.24b)
Debt / Equity = 0.35 (Debt 3.75b / totalStockholderEquity, last quarter 10.6b)
Debt / EBITDA = -0.13 (Net Debt -1.00b / EBITDA 7.99b)
Debt / FCF = -0.16 (Net Debt -1.00b / FCF TTM 6.45b)
Total Stockholder Equity = 10.2b (last 4 quarters mean from totalStockholderEquity)
RoA = 32.92% (Net Income 6.71b / Total Assets 20.8b)
RoE = 65.79% (Net Income TTM 6.71b / Total Stockholder Equity 10.2b)
RoCE = 54.35% (EBIT 7.57b / Capital Employed (Equity 10.2b + L.T.Debt 3.73b))
RoIC = 46.87% (NOPAT 6.78b / Invested Capital 14.5b)
WACC = 14.78% (E(439b)/V(443b) * Re(14.87%) + D(3.75b)/V(443b) * Rd(4.46%) * (1-Tc(0.10)))
Discount Rate = 14.87% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -100.00 | Cagr: -2.21%
[DCF] Terminal Value 60.01% ; FCFF base≈5.51b ; Y1≈6.31b ; Y5≈9.29b
[DCF] Fair Price = 52.69 (EV 64.9b - Net Debt -1.00b = Equity 65.9b / Shares 1.25b; r=14.78% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 86.88 | EPS CAGR: 23.67% | SUE: 3.43 | # QB: 9
Revenue Correlation: 78.29 | Revenue CAGR: 12.93% | SUE: 2.29 | # QB: 7
EPS current Quarter (2026-09-30): EPS=1.81 | Chg30d=+0.46% | Revisions=+50% | Analysts=26
EPS current Year (2026-06-30): EPS=5.68 | Chg30d=+0.09% | Revisions=+91% | GrowthEPS=+37.2% | GrowthRev=+25.8%
EPS next Year (2027-06-30): EPS=8.03 | Chg30d=+1.11% | Revisions=+67% | GrowthEPS=+41.4% | GrowthRev=+32.2%
[Analyst] Revisions Ratio: +93% (up=41, down=0)