Free cash flow
Lam Research Free cash flow decreased by 33.6% to $809.82M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 20.7%, from $1.02B to $809.82M. Over 4 years (FY 2021 to FY 2025), Free cash flow shows an upward trend with a 13.7% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.33B | $321.10M | $1.30B | $612.34M | $318.19M | $1.05B | $976.81M | $1.61B | $1.04B | $874.17M | $1.34B | $1.28B | $761.68M | $1.46B | $553.59M | $1.02B | $2.38B | $1.59B | $1.22B | $809.82M |
| QoQ Change | — | -75.9% | +305.5% | -53.0% | -48.0% | +229.8% | -6.9% | +64.5% | -35.0% | -16.3% | +53.1% | -4.3% | -40.5% | +91.4% | -62.0% | +84.4% | +133.4% | -33.1% | -23.5% | -33.6% |
| YoY Change | — | — | — | — | -76.1% | +226.9% | -25.0% | +162.4% | +228.1% | -16.7% | +37.0% | -20.3% | -27.0% | +66.8% | -58.6% | -20.3% | +212.7% | +9.3% | +120.2% | -20.7% |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Lam Research's free cash flow?
- Lam Research (LRCX) reported free cash flow of $809.82M in Q1 2026.
- How has Lam Research's free cash flow changed year-over-year?
- Lam Research's free cash flow decreased by 20.7% year-over-year, from $1.02B to $809.82M.
- What is the long-term trend for Lam Research's free cash flow?
- Over 4 years (2021 to 2025), Lam Research's free cash flow has grown at a 13.7% compound annual growth rate (CAGR), from $3.24B to $5.41B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.