Lam Research Corporation (LRCX)

NASDAQ: LRCX · USD

$254

+13.08 (+5.4%)· Recorded snapshot

영어 원본으로 대체KO

번역하는 동안 영어 원본을 표시 중

이 리포트는 아직 번역되지 않았습니다. 번역 대기열이 따라잡으면 몇 분 후에 새로고침하세요.

StockMarketAgent Research · Analyzed 2026-09-08

Our latest published analysis: LRCX rated Sell

Lam Research Corporation's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$160 / share

Potential value

$199 / share

Upside to FV

-47.8%

from $254

Moat

6.3/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$385.0B
Revenue (ttm)	26.1B
Net income (ttm)	8.4B
EPS (ttm)	$6.71
Shares out	1.2B
P/E (trailing)	37.8x
P/E (forward)	31.6x
Dividend	$1.32 (0.52%)
Volume	7,833,740
Beta	1.85

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 26.1B
Net income (ttm): 8.4B
EPS (ttm): $6.71
P/E (trailing): 37.8x
P/E (forward): 31.6x
Market cap: $385.0B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-06-30	2023-06-30	2024-06-30	2025-06-30	2026-06-30	Trend
Revenue	$17.23B	$17.43B	$14.91B	$18.44B	$23.23B	+7.8%
Gross profit	$7.87B	$7.78B	$7.05B	$8.98B	$11.73B	+10.5%
Operating income	$5.38B	$5.30B	$4.55B	$5.96B	$8.26B	+11.3%
Net income	$4.61B	$4.51B	$3.83B	$5.36B	$7.27B	+12.1%
EPS (diluted)	$3.31	$3.41	$3.03	$4.14	$5.82	+15.2%
EBITDA	$5.71B	$5.64B	$4.91B	$6.34B	$8.70B	+11.1%
R&D	$1.60B	$1.73B	$1.90B	$2.10B	$2.38B	+10.3%
SG&A	$885.7M	$832.8M	$868.2M	$981.7M	$1.15B	+6.7%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
ADI	Analog Devices, Inc.	207.6B	50.9x	14.8x	11.0%	+16.4%	+76.9%	매도
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	매도

Base and Bull scenarios

Base55%

Price target

$160.48

-47.8% from spot

The rebound is delivered, but support growth and process wins do not justify extending peak growth indefinitely.

Dated analyst forecasts support growth through FY2028; later growth fading toward mature rates remains a house assumption.

Bull20%

Price target

$198.57

-35.5% from spot

More installed tools would support later service demand, while higher system volume would spread fixed costs across more sales. The case fades if those validation measures weaken.

The equipment build extends beyond FY2028 as a scenario assumption, validated by continuing support growth, process wins and sustained margins.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($160.48). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
9.2%	$184	$190	$196	$203	$212
10.2%	$168	$172	$176	$181	$187
11.2%	$155	$157	$160	$164	$168
12.2%	$144	$146	$148	$151	$154
13.2%	$134	$136	$138	$140	$142

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E31.7

P25 n/aP50 n/aP75 n/a

Trailing P/E53.5

P25 n/aP50 n/aP75 n/a

ROE70.1

P25 n/aP50 n/aP75 n/a

ROIC79.1

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All LRCX indicators

Market & fundamental data

Available fields

296

Groups with data

Currency

USD

Showing 296 of 296 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000707549
Company name	Lam Research Corporation
Country	United States
Country code	US
CUSIP number	512807306
Earnings date	2026-10-21
Earnings time	amc
Employees	23,300
Employees change	4,300
Employees growth	22.63%
Enterprise value	$313.5B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-09-27
First seen	2026-05-09
Fiscal year end	June
Founded	1980
In index	SP500, NASDAQ100
Industry	Semiconductor Equipment & Materials
Is primary listing	Yes
Is SPAC	No
ISIN number	US5128073062
Last 10-K release date	2026-08-07
Last earnings date	2026-10-21
Last refreshed	2026-10-28
Last stock split date	2024-10-03
Last stock split type	Forward
Market cap	$317.2B
Market cap category	Mega-Cap
Next earnings date	2027-01-27
Options	Yes
Price	$253.92
Price currency	USD
Sector	Technology
SIC code	3559
Stock price date	2026-10-28
Symbol	LRCX
U.S. state	California
Website	https://www.lamresearch.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	37.56x
Average P/E ratio (10Y)	21.62x
Average P/E ratio (3Y)	34.01x
Average P/E ratio (5Y)	26.72x
Earnings yield	2.64%
EV/Earnings	37.07x
EV/EBIT	32.44x
EV/EBITDA	30.96x
EV/FCF	47.91x
EV/Sales	11.99x
FCF / EV yield	2.09%
FCF yield	2.06%
Forward EV/Sales	8.45x
Forward P/E	24.71x
Forward P/S	8.55x
Graham number	41.00227
Graham upside	-83.84%
Industry forward P/E	25.42x
Industry P/E	39.87x
Lynch fair value	$98.34
Lynch upside	-61.24%
P/(FCF - SBC) ratio	51.67x
P/(OCF - SBC) ratio	44.18x
P/B ratio	21.63x
P/E ratio	37.84x
P/FCF ratio	48.48x
P/OCF ratio	41.83x
P/S ratio	12.13x
PEG ratio	0.78x
Price / tangible book value	26.42x
Price/EBITDA ratio	31.33x
Sector forward P/E	18.38x
Sector P/E	32.76x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	36.95%
EBITDA margin	38.72%
Effective tax rate	13.03%
FCF margin	25.02%
Gross margin	51.05%
Operating margin	36.95%
Pretax margin	37.18%
Profit margin	32.34%
Profit per employee	$362,656
Profitable quarters	35
Profitable years	17
Revenue per employee	$1.1M
ROA	25.01%
ROA (5Y)	18.88%
ROCE	50.7%
ROE	70.12%
ROE (5Y)	61.23%
ROIC	79.14%
ROIC (5Y)	63.6%
SBC / revenue	1.55%
Tax / revenue	4.84%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	48.1%
EPS growth (Q)	76.61%
EPS growth (QoQ)	20.86%
EPS growth 10Y	29.55%
EPS growth 3Y	31.51%
EPS growth 5Y	17.8%
EPS growth quarters	11
EPS growth years	2
FCF growth	17.79%
FCF growth (Q)	103.28%
FCF growth (QoQ)	155.43%
FCF growth 3Y	13.24%
FCF growth 5Y	17.01%
Gross profit growth	38.07%
Gross profit growth (Q)	60.11%
Gross profit growth 3Y	22.93%
Gross profit growth 5Y	12.89%
Net income growth	45.43%
Net income growth (Q)	75.51%
Net income growth (QoQ)	20.9%
Net income growth 3Y	28.61%
Net income growth 5Y	14.65%
Net income growth quarters	11
Net income growth years	2
OCF growth	18.68%
OCF growth (Q)	96.61%
OCF growth (QoQ)	140.02%
OCF growth 10Y	18.61%
OCF growth 3Y	15.32%
OCF growth 5Y	17.36%
Operating income growth	49.31%
Operating income growth (Q)	79.53%
Operating income growth 3Y	27.75%
Operating income growth 5Y	14.56%
Revenue growth	33.36%
Revenue growth (Q)	54.38%
Revenue growth (QoQ)	22.27%
Revenue growth 10Y	16.01%
Revenue growth 3Y	18.16%
Revenue growth 5Y	10.65%
Revenue growth quarters	10
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-1B
Depreciation and amortization	$462M
EBIT	$9.7B
EBITDA	$10.1B
EPS	$6.71
FCF per share	$5.23
Financing cash flow	$-5.8B
Free cash flow	$6.5B
Free cash flow minus SBC	$6.1B
Gross profit	$13.3B
Income taxes	$1.3B
Investing cash flow	$-1B
Net borrowing	$-788.5M
Net cash flow	$739M
Net income	$8.4B
Operating cash flow minus SBC	$7.2B
Operating income	$9.7B
Revenue	$26.1B
Stock-based compensation	$403.8M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	19.57
Book value per share	$11.13
Debt / EBITDA	0.36
Debt / equity	0.27
Debt / FCF	0.57
Interest coverage	63.86
Long-term assets	$8.2B
Long-term liabilities	$5.1B
Net cash (debt)	$3.7B
Net cash / market cap	1.17%
Net cash growth	67.58%
Net debt / EBITDA	-0.37
Net debt / equity	-0.27
Net debt / FCF	-0.57
Piotroski F-Score	6
Property, plant and equipment	$3.1B
Shareholders' equity	$13.9B
Tangible book value	$12B
Tangible book value per share	$9.60
Total assets	$26.4B
Total cash	$7.4B
Total debt	$3.7B
Total liabilities	$12.4B
WACC	14.32%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	1.08
Current assets	$18.1B
Current liabilities	$7.3B
Current ratio	2.48
Inventory turnover	2.96
Net working capital	$3.4B
Quick ratio	1.79
Working capital	$10.8B
Working capital turnover	2.76

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	1.85%
Dividend growth	16.84%
Dividend growth (10Y)	24.91%
Dividend growth (3Y)	15.66%
Dividend growth (5Y)	15.5%
Dividend growth years	11
Dividend payment date	2026-10-14
Dividend payment years	13
Dividend payout frequency	Quarterly
Dividend per share	$1.32
Dividend yield	0.52%
Ex-dividend date	2026-09-23
FCF payout ratio	21.21%
Last dividend	$0.33
Payout ratio	16.54%
Shareholder yield	2.37%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	2,520.68%
10Y return CAGR	40.49%
10Y total return	2,894.05%
150-day SMA	$302.70
15Y price change	5,681.89%
15Y return CAGR	32.51%
15Y total return	6,722.33%
1D price change	5.43%
1M price change	-19.6%
1M total return	-19.6%
1W price change	-3.81%
1W total return	-3.81%
1Y price change	61.52%
1Y return CAGR	62.32%
1Y total return	62.26%
20-day SMA	$288.19
200-day SMA	$283.89
20Y price change	5,099.43%
20Y return CAGR	22.85%
20Y total return	6,035.06%
3M price change	-13.1%
3M total return	-13%
3Y price change	333.92%
3Y return CAGR	64.45%
3Y total return	344.87%
50-day SMA	$296.94
50-day SMA vs 200-day SMA	50over200
52-week high	$438.50
52-week high date	2026-06-30
52-week low	$135.50
52-week low date	2025-11-21
5Y price change	357.75%
5Y return CAGR	36.95%
5Y total return	381.54%
6M price change	-2.33%
6M total return	-2.16%
After-hours change	-0.37%
After-hours close	$253.92
After-hours price	$252.98
All-time high	$438.50
All-time high date	2026-06-30
All-time low	$0.07
All-time low date	1990-08-23
Average true range (ATR)	$14.35
Average volume	9.9M
Beta (1Y)	2.36
Beta (2Y)	2.1
Beta (5Y)	1.85
Change from 52-week high	-42.09%
Change from 52-week low	87.4%
Change from all-time high	-42.21%
Change from all-time low	379,840.03%
Change from open	3.75%
Day's gap	1.62%
Dollar volume	$2B
High price	$257.50
Low price	$244.74
Monthly RSI	56.03
Open price	$244.74
Position in 52-week range	71.94%
Premarket change	1.91%
Premarket close	$240.85
Premarket price	$245.46
Premarket volume	155.6K
Previous close	$240.85
Price vs 150-day SMA	-16.28%
Price vs 20-day SMA	-12.06%
Price vs 200-day SMA	-10.73%
Price vs 50-day SMA	-14.66%
Relative volume	0.79
RSI	38.15
Sharpe ratio	1.01
Sharpe ratio (3Y)	1.12
Sharpe ratio (5Y)	0.79
Sortino ratio	1.61
Sortino ratio (3Y)	1.78
Sortino ratio (5Y)	1.29
Volume	7.8M
Weekly RSI	44.64
YTD price change	48.04%
YTD total return	48.48%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	1.2B
Float percentage	99.6%
Shares change (QoQ)	-0.02%
Shares change (YoY)	-1.85%
Shares held by insiders	0.27%
Shares held by institutions	87.78%
Shares outstanding	1.2B
Short % of float	2.07%
Short % of shares	2.07%
Short ratio	2.8 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	861

Deeper analysis on LRCX

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this LRCX report

What is the latest published LRCX stock rating?

Lam Research Corporation is shown with Sell in the latest published report, analyzed 2026-09-08. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full LRCX analysis?

The full latest published report, analyzed 2026-09-08, lives at /stocks/LRCX/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for LRCX?

The latest published report analyzed 2026-09-08 gives LRCX a fair value of USD 160 and a potential value of USD 199. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the LRCX page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-08). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellLRCX · Fair value $160-47.8%

Read full analysis →

Lam Research Corporation (LRCX)

Our latest published analysis: LRCX rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · LRCX

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All LRCX indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on LRCX

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	8.5
Balance Sheet	7.5
Profitability	8.5
Revenue Growth	7.5
Risk Assessment	6.0
Competitive Moat	6.3
Earnings Quality	7.5
Capital Efficiency	8.5