Lam Research Corporation (LRCX) Key Metrics
LRCX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $330.30B
- Enterprise value
- $382.66B
- P/E (TTM)
- 45.8 10-yr median 20.4
- Forward P/E
- 33.7
- PEG ratio
- 1.45
- Price / sales
- 14.2 10-yr median 4.9
- Price / book
- 31.2 10-yr median 10.1
- EV / EBITDA
- 43.2 10-yr median 15.5
- Dividend yield
- 0.50% $1.32 a year
- Beta
- 1.85
LRCX key metrics, FY2017–FY2026
Fiscal year ended June 30, 2026 · U.S. dollarsLRCX valuation Price multiples at each fiscal year-end price.
LRCX returns How much profit the business earns on the capital it uses.
LRCX per-share figures Results divided by the shares outstanding at year-end.
LRCX financial health Debt, liquidity and how easily interest is covered.
LRCX efficiency & capital use Working capital cycle and where the cash goes.
LRCX valuation history
LRCX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LRCX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LRCX cash returned to shareholders
LRCX price vs earnings per share
LRCX key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $546.47B | $125.58B | $140.55B | $87.32B | $59.93B | $94.56B | $48.22B | $30.04B | $31.25B | $25.99B |
| Enterprise value | $545.02B | $123.95B | $139.69B | $86.96B | $61.28B | $93.83B | $47.33B | $29.10B | $28.72B | $22.64B |
| P/E ratio | 75.2 | 23.4 | 36.7 | 19.4 | 13.0 | 24.2 | 21.4 | 13.7 | 13.1 | 15.3 |
| Price / sales | 23.5 | 6.8 | 9.4 | 5.0 | 3.5 | 6.5 | 4.8 | 3.1 | 2.8 | 3.2 |
| Price / book | 43.8 | 12.7 | 16.5 | 10.6 | 9.5 | 15.7 | 9.3 | 6.4 | 4.7 | 3.7 |
| Price / free cash flow | 111.7 | 23.2 | 33.0 | 18.7 | 23.5 | 29.2 | 25.1 | 10.5 | 13.1 | 13.9 |
| Price / operating cash flow | 93.3 | 20.3 | 30.2 | 16.9 | 19.3 | 26.4 | 22.7 | 9.5 | 11.8 | 12.8 |
| EV / sales | 23.5 | 6.7 | 9.4 | 5.0 | 3.6 | 6.4 | 4.7 | 3.0 | 2.6 | 2.8 |
| EV / EBITDA | 62.6 | 19.5 | 28.5 | 15.4 | 10.7 | 19.2 | 15.7 | 10.1 | 8.0 | 10.1 |
| EV / free cash flow | 111.4 | 22.9 | 32.8 | 18.6 | 24.0 | 29.0 | 24.6 | 10.1 | 12.1 | 12.1 |
| Earnings yield | 1.3% | 4.3% | 2.7% | 5.2% | 7.7% | 4.1% | 4.7% | 7.3% | 7.6% | 6.5% |
| Free cash flow yield | 0.9% | 4.3% | 3.0% | 5.4% | 4.3% | 3.4% | 4.0% | 9.6% | 7.6% | 7.2% |
| Dividend yield | 0.2% | 0.9% | 0.7% | 1.0% | 1.4% | 0.8% | 1.4% | 2.3% | 1.0% | 0.9% |
| Shareholder yield (dividends + buybacks) | 0.9% | 3.6% | 2.7% | 3.3% | 7.8% | 3.6% | 4.2% | 14.8% | 9.5% | 4.1% |
| Share price at fiscal year-end | $433.33 | $97.34 | $106.48 | $64.29 | $42.62 | $65.07 | $32.35 | $18.78 | $17.29 | $14.14 |
| Per share | ||||||||||
| Revenue per share | $18.42 | $14.29 | $11.29 | $12.83 | $12.25 | $10.06 | $6.74 | $6.04 | $6.13 | $4.36 |
| Earnings per share | $5.76 | $4.15 | $2.90 | $3.32 | $3.27 | $2.69 | $1.51 | $1.37 | $1.32 | $0.92 |
| Operating cash flow per share | $4.64 | $4.78 | $3.52 | $3.81 | $2.20 | $2.47 | $1.43 | $1.99 | $1.47 | $1.10 |
| Free cash flow per share | $3.88 | $4.20 | $3.22 | $3.44 | $1.82 | $2.23 | $1.29 | $1.80 | $1.32 | $1.02 |
| Cash per share | $4.42 | $4.95 | $4.43 | $3.96 | $2.60 | $3.94 | $4.50 | $3.40 | $2.74 | $3.29 |
| Book value per share | $9.89 | $7.64 | $6.47 | $6.04 | $4.46 | $4.15 | $3.48 | $2.95 | $3.64 | $3.80 |
| Tangible book value per share | $7.10 | $6.24 | $5.13 | $4.73 | $3.31 | $2.94 | $2.26 | $1.75 | $2.47 | $2.60 |
| Dividends per share | $1.01 | $0.89 | $0.77 | $0.67 | $0.58 | $0.50 | $0.44 | $0.42 | $0.17 | $0.13 |
| Capex per share | $0.77 | $0.59 | $0.30 | $0.37 | $0.39 | $0.24 | $0.14 | $0.19 | $0.15 | $0.09 |
| Debt per share | $3.27 | $3.69 | $3.78 | $3.69 | $3.56 | $3.44 | $3.90 | $2.81 | $1.34 | $1.47 |
| Shares outstanding | 1.26B | 1.29B | 1.32B | 1.36B | 1.41B | 1.45B | 1.49B | 1.60B | 1.81B | 1.84B |
| Change in shares outstanding | −2.3% | −2.3% | −2.8% | −3.4% | −3.2% | −2.5% | −6.8% | −11.5% | −1.6% | +4.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 65.1% | 58.2% | 45.7% | 62.3% | 74.8% | 69.7% | 45.5% | 38.8% | 35.1% | 25.9% |
| Return on invested capital (ROIC) | 74.9% | 66.7% | 48.2% | 59.1% | 73.8% | 83.6% | 58.0% | 56.4% | 63.2% | 49.2% |
| Return on assets (ROA) | 32.4% | 26.7% | 20.4% | 25.1% | 27.8% | 25.7% | 17.0% | 17.9% | 19.4% | 13.9% |
| Return on tangible assets | 36.3% | 27.4% | 22.5% | 26.5% | 29.6% | 27.6% | 17.7% | 21.7% | 23.0% | 17.1% |
| Free cash flow margin | 21.1% | 29.4% | 28.6% | 26.8% | 14.8% | 22.1% | 19.1% | 29.8% | 21.5% | 23.4% |
| Income quality (OCF / net income) | 0.81 | 1.15 | 1.22 | 1.15 | 0.67 | 0.92 | 0.94 | 1.45 | 1.12 | 1.20 |
| Financial health | ||||||||||
| Total debt | $4.12B | $4.76B | $4.98B | $5.01B | $5.01B | $5.00B | $5.81B | $4.49B | $2.42B | $2.69B |
| Cash & short-term investments | $5.58B | $6.39B | $5.85B | $5.37B | $3.66B | $5.73B | $6.71B | $5.43B | $4.95B | $6.04B |
| Net debt | −$1.46B | −$1.63B | −$864.5M | −$363.2M | $1.35B | −$727.5M | −$899.5M | −$941.3M | −$2.53B | −$3.35B |
| Debt / equity | 0.33 | 0.48 | 0.58 | 0.61 | 0.80 | 0.83 | 1.12 | 0.95 | 0.37 | 0.39 |
| Debt / assets | 0.18 | 0.22 | 0.27 | 0.27 | 0.29 | 0.31 | 0.40 | 0.37 | 0.19 | 0.22 |
| Net debt / EBITDA | −0.17 | −0.26 | −0.18 | −0.06 | 0.24 | −0.15 | −0.30 | −0.33 | −0.71 | −1.50 |
| Current ratio | 2.63 | 2.21 | 2.97 | 3.16 | 2.69 | 3.30 | 3.43 | 3.61 | 2.90 | 3.10 |
| Quick ratio | 1.91 | 1.55 | 2.00 | 2.01 | 1.82 | 2.54 | 2.83 | 2.96 | 2.31 | 2.68 |
| Interest coverage | 52.3 | 33.1 | 23.0 | 27.8 | 29.1 | 21.5 | 15.1 | 21.0 | 33.0 | 16.2 |
| Working capital | $9.67B | $7.95B | $8.54B | $9.04B | $7.72B | $8.12B | $7.69B | $6.19B | $6.00B | $6.19B |
| Invested capital | $11.01B | $8.23B | $7.67B | $7.85B | $7.63B | $5.30B | $4.28B | $3.78B | $4.05B | $3.64B |
| Tangible asset value | $8.95B | $8.05B | $6.77B | $6.42B | $4.66B | $4.27B | $3.36B | $2.80B | $4.46B | $4.78B |
| Net current asset value | $4.55B | $3.03B | $2.68B | $2.66B | $1.37B | $1.79B | $1.48B | $1.28B | $3.25B | $4.01B |
| Graham number | $35.80 | $26.73 | $20.55 | $21.25 | $18.14 | $15.84 | $10.87 | $9.54 | $10.38 | $8.89 |
| Graham net-net per share | $0.53 | −$0.31 | −$0.27 | −$0.49 | −$1.45 | −$0.36 | −$0.10 | $0.01 | $0.90 | $1.51 |
| Capital allocation | ||||||||||
| Dividends paid | $1.27B | $1.15B | $1.02B | $907.9M | $815.3M | $727.0M | $656.8M | $678.3M | $307.6M | $243.5M |
| Share buybacks (net) | $3.85B | $3.42B | $2.84B | $2.02B | $3.87B | $2.70B | $1.37B | $3.78B | $2.65B | $811.7M |
| Dividend payout ratio | 17.5% | 21.5% | 26.6% | 20.1% | 17.7% | 18.6% | 29.2% | 31.0% | 12.9% | 14.3% |
| Dividends + buybacks / free cash flow | 104.7% | 84.4% | 90.7% | 62.5% | 183.3% | 105.7% | 105.4% | 155.2% | 124.3% | 56.4% |
| Capex / revenue | 4.2% | 4.1% | 2.7% | 2.9% | 3.2% | 2.4% | 2.0% | 3.1% | 2.5% | 2.0% |
| Capex / operating cash flow | 16.5% | 12.3% | 8.5% | 9.7% | 17.6% | 9.7% | 9.6% | 9.6% | 10.3% | 7.8% |
| Capex / depreciation | 2.19 | 1.97 | 1.10 | 1.46 | 1.64 | 1.14 | 0.76 | 0.98 | 0.84 | 0.51 |
| Stock-based compensation / revenue | 1.7% | 1.9% | 2.0% | 1.6% | 1.5% | 1.5% | 1.9% | 1.9% | 1.6% | 1.9% |
| R&D / revenue | 10.2% | 11.4% | 12.8% | 9.9% | 9.3% | 10.2% | 12.5% | 12.3% | 10.7% | 12.9% |
| SG&A / revenue | 4.9% | 5.3% | 5.8% | 4.8% | 5.1% | 5.7% | 6.8% | 7.3% | 6.9% | 8.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 68.5 | 58.4 | 65.4 | 74.7 | 77.8 | 63.9 | 64.5 | 68.7 | 63.4 | 66.9 |
| Days of inventory on hand | 136.1 | 164.5 | 210.0 | 166.1 | 129.8 | 107.1 | 115.5 | 117.7 | 96.0 | 91.2 |
| Days payables outstanding | 34.2 | 28.3 | 37.8 | 38.2 | 35.9 | 33.2 | 32.5 | 30.6 | 30.1 | 33.6 |
| Cash conversion cycle (days) | 170.4 | 194.6 | 237.6 | 202.6 | 171.7 | 137.8 | 147.5 | 155.8 | 129.3 | 124.5 |
| Receivables turnover | 5.33 | 6.25 | 5.58 | 4.88 | 4.69 | 5.71 | 5.65 | 5.32 | 5.75 | 5.46 |
| Payables turnover | 10.67 | 12.88 | 9.66 | 9.54 | 10.16 | 11.00 | 11.22 | 11.93 | 12.12 | 10.85 |
| Inventory turnover | 2.68 | 2.22 | 1.74 | 2.20 | 2.81 | 3.41 | 3.16 | 3.10 | 3.80 | 4.00 |
| Asset turnover | 1.04 | 0.92 | 0.79 | 0.97 | 1.04 | 0.96 | 0.76 | 0.79 | 0.90 | 0.66 |
| Average receivables | $4.36B | $2.95B | $2.67B | $3.57B | $3.67B | $2.56B | $1.78B | $1.82B | $1.93B | $1.47B |
| Average payables | $1.08B | $734.1M | $812.6M | $1.01B | $920.5M | $711.0M | $484.5M | $443.8M | $487.8M | $406.4M |
| Average inventory | $4.29B | $4.26B | $4.52B | $4.39B | $3.33B | $2.29B | $1.72B | $1.71B | $1.55B | $1.10B |
| Intangibles / total assets | 15.0% | 8.5% | 9.4% | 9.5% | 9.4% | 11.0% | 12.5% | 16.0% | 17.0% | 18.2% |
Computed from LRCX's annual financial statements (latest annual report filed August 7, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LRCX valuation and financial ratios
At the end of fiscal 2026 (June 30, 2026), Lam Research traded at 75.2 times earnings, against a 10-year median of 20.4. Based on the latest twelve months, the trailing P/E is 45.8 and the forward P/E is 33.7. Lam Research earned a return on equity of 65.1% and a return on invested capital of 74.9% in fiscal 2026. It ended the year with $4.1 billion of debt and $5.6 billion in cash and short-term investments, a net cash position of $1.5 billion. It returned $5.1 billion to shareholders: $1.3 billion in dividends and $3.9 billion in share buybacks, 105% of free cash flow. The share count fell 31.4% from 1.84B to 1.26B over 9 years.
See the LRCX income statement, the LRCX chart for price history, or the LRCX stock overview for the latest quote and news.
LRCX key metrics FAQ
What is Lam Research's P/E ratio?
Lam Research's trailing P/E ratio is 45.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 33.7. At the end of fiscal 2026 it was 75.2, compared with a 10-year median of 20.4.
What is Lam Research's EV/EBITDA?
Lam Research's enterprise value was 62.6 times EBITDA at the end of fiscal 2026 (enterprise value $545.0 billion, EBITDA $8.7 billion); the current EV/EBITDA is 43.2.
What is Lam Research's return on equity?
Lam Research's return on equity (ROE) was 65.1% in fiscal 2026: net income of $7.3 billion on average shareholders' equity of $11.2 billion.
What is Lam Research's ROIC?
Lam Research's return on invested capital was 74.9% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Lam Research have?
Lam Research had total debt of $4.1 billion at the end of fiscal 2026, a debt-to-equity ratio of 0.33 and more cash than debt.
What is Lam Research's dividend yield?
Lam Research's forward dividend yield is 0.50%. Lam Research paid $1.3 billion in dividends in fiscal 2026 ($1.01 per share), a payout ratio of 17.5%.
Does Lam Research buy back its shares?
Yes. Lam Research spent $3.9 billion on net share repurchases in fiscal 2026 Shares outstanding changed −2.3% over the year, to 1.26B..
What is Lam Research's free cash flow yield?
Lam Research generated $4.9 billion of free cash flow in fiscal 2026, a free cash flow yield of 0.9% on its market value at year-end ($546.5 billion).
What is Lam Research's current ratio?
Lam Research's current ratio was 2.63 at the end of fiscal 2026: current assets were 2.63 times current liabilities.