What is Lam Research's contract liabilities?

Lam Research (LRCX) reported contract liabilities of $2.68B in Q2 2025.

What is the long-term trend for Lam Research's contract liabilities?

Over 2 years (2023 to 2025), Lam Research's contract liabilities has grown at a 20.8% compound annual growth rate (CAGR), from $1.84B to $2.68B.

What does contract liabilities mean?

Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

Lam Research LRCX Contract Liabilities

Contract Liabilities at other companies

KLA CorporationKLAC

$576.5M+13.2%

Axcelis TechnologiesACLS

$41.21M+42.8%

SkyWater Technology, Inc.SKYT

$74.36M-23.5%

Applied MaterialsAMAT

——

Keysight TechnologiesKEYS

——

Amkor TechnologyAMKR

——

Other financials

Income statement

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Revenue$5.8B+23.8%

Gross profit$2.9B+25.8%

Operating income$2.0B+31.1%

Net income$1.8B+37.2%

EPS (diluted)$1.45+40.8%

Balance sheet

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Cash & equivalents$4.8B-12.7%

Total debt$3.7B-16.7%

Total equity$10.6B+11.3%

Total assets$20.8B+4.1%

Cash flow

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Operating cash flow$1.1B-12.8%

CapEx$331.6M+15.1%

Free cash flow$809.8M-20.7%

Valuation

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Market cap$399.91B+220%

Enterprise value$398.88B+223%

P/E59.6×+36.3×

P/S18.4×+11.7×

Profitability

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Gross margin50%+2.0pp

Operating margin34.3%+3.4pp

Net margin30.9%+3.8pp

FCF margin27.7%+5.6pp

Returns & leverage

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Return on equity66.8%+13.6pp

Debt / equity0.4×-0.1×

Current ratio2.5×+0.1×

Where this comes from

Reported directly by Lam Research in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The official record: Lam Research’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lam Research's contract liabilities?: Lam Research (LRCX) reported contract liabilities of $2.68B in Q2 2025.
What is the long-term trend for Lam Research's contract liabilities?: Over 2 years (2023 to 2025), Lam Research's contract liabilities has grown at a 20.8% compound annual growth rate (CAGR), from $1.84B to $2.68B.
What does contract liabilities mean?: Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.