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Lam Research LRCX Q2 2026 earnings

Reported January 28, 2026 · After market close

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

Next report

Jul 29, 2026 (in a month)
Revenue estimate$6.6B
EPS estimate$1.65

Financials

Q2 2026

Income statement

See full
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
See full
Market cap$215.01B+131%
Enterprise value$213.3B+131%
P/E34.6×+13.0×
P/S10.5×+4.7×

Profitability

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

Returns & leverage

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

Segments

By segment

See full
Reportable Segment$5.3B+22.1%

Versus estimates

Revenue

Q3 2026$5.8BBeat by $91.1M
Q2 2026$5.3BBeat by $111.6M
Q1 2026$5.3BBeat by $101.0MQ4 2025$5.2BBeat by $167.4MQ3 2025$4.7BBeat by $77.4MQ2 2025$4.4BBeat by $58.6M

Diluted EPS

Q3 2026$1.47Beat by $0.11
Q2 2026$1.27Beat by $0.10
Q1 2026$1.26Beat by $0.04Q4 2025$1.33Beat by $0.12Q3 2025$1.04Beat by $0.04Q2 2025$0.91Beat by $0.03

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Questions, answered.

When did Lam Research report Q2 2026 earnings?
Lam Research (LRCX) reported Q2 2026 earnings on January 28, 2026 after market close.
What were Lam Research's Q2 2026 revenue and EPS?
Lam Research reported revenue of $5.3B and diluted EPS of $1.27 for Q2 2026.
Did Lam Research 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'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 diluted EPS grew 39.6% from $0.91.
Where can I find Lam Research'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.