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Lam Research Corp. LRCX Q2 2026 earnings

Reported January 28, 2026 · After market close

Revenue$5.3BBeat by $111.6M
EPS$1.27Beat by $0.10
Revenue estimate$5.2B
EPS estimate$1.17

Next report

Oct 21, 2026 (In 2 weeks)
Revenue estimate$8.1B
EPS estimate$2.18

Financials

Q2 2026

Income statement

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Revenue$5.3B+22.1%
Gross profit$2.7B+27.9%
Operating income$1.8B+35.7%
Net income$1.6B+33.8%
EPS (diluted)$1.26+37.0%

Balance sheet

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Cash & equivalents$6.2B+9.1%
Total debt$4.5B-10.0%
Total equity$10.1B+15.2%
Total assets$21.4B+7.8%

Cash flow

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Operating cash flow$1.5B+99.5%
CapEx$260.9M+38.5%
Free cash flow$1.2B+120%

Valuation & ratios

Valuation

as of 12/28/25
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Market cap$215.01B+131%
Enterprise value$213.3B+131%
P/E34.6×+13.0×
P/S10.5×+4.7×

Profitability

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Gross margin49.8%+2.2pp
Operating margin33.8%+4.3pp
Net margin30.2%+3.7pp
FCF margin30.2%+5.2pp

Returns & leverage

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Return on equity65.6%+15.1pp
Debt / equity0.4×-0.1×
Current ratio2.3×-0.3×

Segments

By segment

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Reportable Segment$5.3B+22.1%

FAQ

When did Lam Research Corp. report Q2 2026 earnings?
Lam Research Corp. (LRCX) reported Q2 2026 earnings on January 28, 2026 after market close.
What were Lam Research Corp.'s Q2 2026 revenue and EPS?
Lam Research Corp. reported revenue of $5.3B and eps of $1.27 for Q2 2026.
Did Lam Research Corp. beat estimates in Q2 2026?
Revenue beat the consensus estimate of $5.2B by $111.6M. EPS beat the consensus estimate of $1.17 by $0.10.
How did Lam Research Corp.'s Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 22.1% from $4.4B a year earlier and eps grew 39.6% from $0.91.
Where can I find Lam Research Corp.'s Q2 2026 SEC filings?
You can read the 8-K earnings release (0000707549-26-000006) and the 10-Q periodic report (0000707549-26-000009) directly on SEC EDGAR. The filing index links above go to sec.gov.