LRCX Stock Analysis: Lam Research | NASDAQ
Semiconductor Equipment & Materials | NASDAQ, USA | Market Cap: 382.603m USD | 12M Return: 202.1% | US5128073062 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.33B
EPS Trend: 96.2%
Qual. Beats: 10
Rev. Trend: 94.2%
Qual. Beats: 8
Warnings
Tailwinds
Seasonality 11.6 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: 7.27b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.21 > 0.02 and ΔFCF/TA -5.98 > 1.0 |
| NWC/Revenue: 41.64% < 20% (prev 43.12%; Δ -1.48% < -1%) |
| CFO/TA 0.25 > 3% & CFO 5.86b > Net Income 7.27b |
| Net Debt (-1.83b) to EBITDA (8.70b): -0.21 < 3 |
| Current Ratio: 2.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.26b) vs 12m ago -1.24% < -2% |
| Gross Margin: 50.47% > 18% (prev 48.71%; Δ 1.76% > 0.5%) |
| Asset Turnover: 103.5% > 50% (prev 86.37%; Δ 17.18% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.41 (Total Current Assets 15.6b - Total Current Liabilities 5.94b) / Total Assets 23.5b |
| B: 1.49 (Retained Earnings 35.0b / Total Assets 23.5b) |
| C: 0.37 (EBIT TTM 8.26b / Avg Total Assets 22.4b) |
| D: 1.13 (Book Value of Equity 12.5b / Total Liabilities 11.1b) |
| Altman-Z'' = 11.20 = AAA |
| DSRI: 1.25 (Receivables 5.34b/3.38b, Revenue 23.2b/18.4b) |
| GMI: 0.97 (GM 48.71% / 50.47%) |
| AQI: 1.02 (AQ_t 0.21 / AQ_t-1 0.21) |
| SGI: 1.26 (Revenue 23.2b / 18.4b) |
| TATA: 0.06 (NI 7.27b - CFO 5.86b) / TA 23.5b) |
| Beneish M = -2.64 (Cap -4..+1) = A |
As of August 11, 2026, the stock is trading at USD 306.40 with a total of 6,988,880 shares traded. Over the past week, the price has changed by +4.00%, over one month by -12.54%, over three months by +3.57% and over the past year by +202.05%.
Current recommended Stop Loss: 272.80 (which is 11% or 1.4 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 | 368.1 | 20.1% |
P/E Trailing = 53.4563
P/E Forward = 34.7222
P/S = 16.4683
P/B = 31.8807
P/EG = 1.4944
Revenue TTM = 23.2b USD
EBIT TTM = 8.26b USD
EBITDA TTM = 8.70b USD
Long Term Debt = 3.73b USD (from longTermDebt, two quarters ago)
Short Term Debt = 4.07m USD (from shortTermDebt, last quarter)
Debt = 3.75b USD (from shortLongTermDebtTotal, last quarter) + Leases 15.1m
Net Debt = -1.83b USD (calculated: Debt 3.75b - CCE 5.58b)
Enterprise Value = 381b USD (383b + Debt 3.75b - CCE 5.58b)
Interest Coverage Ratio = unknown (Ebit TTM 8.26b / Interest Expense TTM 0.0)
EV/FCF = 77.85x (Enterprise Value 381b / FCF TTM 4.89b)
FCF Yield = 1.28% (FCF TTM 4.89b / Enterprise Value 381b)
FCF Margin = 21.05% (FCF TTM 4.89b / Revenue TTM 23.2b)
Net Margin = 31.27% (Net Income TTM 7.27b / Revenue TTM 23.2b)
Gross Margin = 50.47% ((Revenue TTM 23.2b - Cost of Revenue TTM 11.5b) / Revenue TTM)
Gross Margin QoQ = 51.75% (prev 49.83%)
Tobins Q-Ratio = 16.18 (Enterprise Value 381b / Total Assets 23.5b)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 3.75b)
Taxrate = 12.07% (997.1m / 8.26b)
NOPAT = 7.27b (EBIT 8.26b * (1 - 12.07%))
Current Ratio = 2.63 (Total Current Assets 15.6b / Total Current Liabilities 5.94b)
Debt / Equity = 0.30 (Debt 3.75b / totalStockholderEquity, last quarter 12.5b)
Debt / EBITDA = -0.21 (Net Debt -1.83b / EBITDA 8.70b)
Debt / FCF = -0.37 (Net Debt -1.83b / FCF TTM 4.89b)
Total Stockholder Equity = 10.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 32.38% (Net Income 7.27b / Total Assets 23.5b)
RoE = 66.97% (Net Income TTM 7.27b / Total Stockholder Equity 10.8b)
RoCE = 56.67% (EBIT 8.26b / Capital Employed (Equity 10.8b + L.T.Debt 3.73b))
RoIC = 44.21% (NOPAT 7.27b / Invested Capital 16.4b)
WACC = 15.29% (E(383b)/V(386b) * Re(15.44%) + D(3.75b)/V(386b) * Rd(0.0%) * (1-Tc(0.12)))
Discount Rate = 15.44% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: -98.35 | Cagr: -1.85%
[DCF] Terminal Value 51.97% ; FCFF base≈5.22b ; Y1≈4.61b ; Y5≈3.77b
[DCF] Fair Price = 24.25 (EV 28.5b - Net Debt -1.83b = Equity 30.3b / Shares 1.25b; r=15.29% [WACC]; 5y FCF grow -14.38% → 2.50% )
EPS Correlation: 96.25 | EPS CAGR: 31.90% | SUE: 3.60 | # QB: 10
Revenue Correlation: 94.15 | Revenue CAGR: 19.02% | SUE: 0.84 | # QB: 8
EPS current Quarter (2026-09-30): EPS=2.18 | Chg30d=+20.20% | Revisions=+70% | Analysts=25
EPS next Quarter (2026-12-31): EPS=2.31 | Chg30d=+17.20% | Revisions=+75% | Analysts=25
EPS current Year (2027-06-30): EPS=9.46 | Chg30d=+17.33% | Revisions=+77% | GrowthEPS=+62.5% | GrowthRev=+49.6%
EPS next Year (2028-06-30): EPS=11.53 | Chg30d=+16.31% | Revisions=+62% | GrowthEPS=+21.9% | GrowthRev=+15.5%
[Analyst] Revisions Ratio: +91% (up=31, down=0)