Stock LRCX LAM RESEARCH CORPORATION
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Financials Lam Research Corporation

Equities

LRCX

US5128071082

Semiconductor Equipment & Testing

Market Closed - Nasdaq
Other stock markets
 21:00:00 26/04/2024 BST 		5-day change 1st Jan Change
925.4 USD +2.65% Intraday chart for Lam Research Corporation +6.33% +18.14%
04-25 KLA Corp projects quarterly revenue above estimates as AI fuels chip demand RE
04-25 Global markets live: Ford, Dow, American Airlines, Comcast, Apple, IBM, Cisco... Our Logo

Valuation

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 26,360 45,378 89,913 62,448 81,781 120,979 - -
Enterprise Value (EV) 1 25,419 44,478 89,185 63,796 81,418 120,079 119,828 118,789
P/E ratio 12.8 x 20.7 x 23.4 x 13.7 x 18.3 x 32.6 x 26.7 x 21.2 x
Yield 2.5% 1.47% 0.82% 1.33% 1.13% 0.85% 0.91% 0.95%
Capitalization / Revenue 2.73 x 4.52 x 6.15 x 3.63 x 4.69 x 8.14 x 6.85 x 5.87 x
EV / Revenue 2.63 x 4.43 x 6.1 x 3.7 x 4.67 x 8.08 x 6.79 x 5.76 x
EV / EBITDA 8.73 x 14.9 x 18.2 x 11.1 x 14.3 x 25.2 x 21 x 17.1 x
EV / FCF 8.85 x 23.1 x 27.5 x 25 x 17.4 x 25.1 x 28.1 x 21.8 x
FCF Yield 11.3% 4.32% 3.63% 4% 5.74% 3.99% 3.56% 4.6%
Price to Book 5.81 x 8.78 x 14.9 x 9.82 x - 15 x 12.3 x 9.92 x
Nbr of stocks (in thousands) 149,927 145,162 142,619 138,715 134,340 130,736 - -
Reference price 2 175.8 312.6 630.4 450.2 608.8 925.4 925.4 925.4
Announcement Date 31/07/19 29/07/20 28/07/21 27/07/22 26/07/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,654 10,045 14,626 17,227 17,429 14,864 17,659 20,608
EBITDA 1 2,913 2,990 4,912 5,732 5,698 4,772 5,694 6,965
EBIT 1 2,603 2,722 4,605 5,398 5,355 4,434 5,355 6,617
Operating Margin 26.97% 27.1% 31.48% 31.34% 30.73% 29.83% 30.32% 32.11%
Earnings before Tax (EBT) 1 2,447 2,575 4,371 5,193 5,109 4,347 5,313 6,576
Net income 1 2,191 2,252 3,908 4,605 4,511 3,754 4,601 5,676
Net margin 22.7% 22.42% 26.72% 26.73% 25.88% 25.26% 26.05% 27.54%
EPS 2 13.70 15.10 26.90 32.75 33.21 28.43 34.70 43.56
Free Cash Flow 1 2,873 1,923 3,239 2,554 4,677 4,787 4,263 5,461
FCF margin 29.76% 19.15% 22.15% 14.82% 26.84% 32.2% 24.14% 26.5%
FCF Conversion (EBITDA) 98.62% 64.32% 65.95% 44.55% 82.09% 100.29% 74.86% 78.4%
FCF Conversion (Net income) 131.08% 85.41% 82.87% 55.45% 103.69% 127.49% 92.65% 96.2%
Dividend per Share 2 4.400 4.600 5.200 6.000 6.900 7.828 8.412 8.811
Announcement Date 31/07/19 29/07/20 28/07/21 27/07/22 26/07/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: June 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3
Net sales 1 4,304 4,227 4,060 4,636 5,074 5,278 3,870 3,207 3,482 3,758 3,794 3,813 4,030 4,281 4,511
EBITDA 1 1,473 1,433 1,279 1,547 1,764 1,781 1,188 964.9 1,138 1,219 1,240 1,186 1,273 1,363 1,484
EBIT 1 1,393 1,352 1,194 1,459 1,688 1,695 1,097 875.3 1,047 1,128 1,150 1,128 1,190 1,286 1,404
Operating Margin 32.37% 31.98% 29.41% 31.48% 33.27% 32.12% 28.34% 27.29% 30.08% 30.02% 30.32% 29.57% 29.53% 30.04% 31.12%
Earnings before Tax (EBT) 1 1,343 1,356 1,135 1,359 1,655 1,652 938.9 863.6 1,026 1,087 1,093 1,121 1,212 1,323 1,434
Net income 1 1,180 1,195 1,022 1,209 1,426 1,469 814 802.5 887.4 954.3 965.8 965.4 1,033 1,123 1,218
Net margin 27.41% 28.27% 25.16% 26.08% 28.1% 27.83% 21.04% 25.02% 25.48% 25.39% 25.46% 25.32% 25.63% 26.24% 27%
EPS 2 8.270 8.440 7.300 8.740 10.39 10.77 6.010 5.970 6.660 7.220 7.340 7.377 7.878 8.557 9.405
Dividend per Share 2 1.500 1.500 1.500 1.500 1.725 1.725 1.725 1.725 2.000 2.000 2.000 1.986 2.087 2.087 2.087
Announcement Date 20/10/21 26/01/22 20/04/22 27/07/22 19/10/22 25/01/23 19/04/23 26/07/23 18/10/23 24/01/24 24/04/24 - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: June 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 1,348 - - - -
Net Cash position 1 941 900 727 - 363 901 1,151 2,190
Leverage (Debt/EBITDA) - - - 0.2352 x - - - -
Free Cash Flow 1 2,873 1,923 3,239 2,554 4,677 4,787 4,263 5,461
ROE (net income / shareholders' equity) 41.6% 45.7% 69.8% 74.8% 62.3% 48.1% 54.7% 61.9%
ROA (Net income/ Total Assets) 19% 17% 25.7% 27.8% 25.1% 21.3% 24% 29.1%
Assets 1 11,528 13,280 15,226 16,544 17,989 17,638 19,150 19,503
Book Value Per Share 2 30.30 35.60 42.30 45.80 - 61.80 74.90 93.30
Cash Flow per Share 2 19.90 14.30 24.70 22.00 38.10 31.80 38.10 46.80
Capex 1 303 203 349 546 502 399 488 569
Capex / Sales 3.14% 2.02% 2.39% 3.17% 2.88% 2.69% 2.77% 2.76%
Announcement Date 31/07/19 29/07/20 28/07/21 27/07/22 26/07/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Lam Research Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
32
Last Close Price
925.4 USD
Average target price
972.6 USD
Spread / Average Target
+5.11%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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