Current Assets
Work in process
Lam Research Work in process increased by 10.2% to $388.36M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 26.3%, from $307.48M to $388.36M. Over 4 years (FY 2021 to FY 2025), Work in process shows a downward trend with a -7.8% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementBalance Sheet Statement
SectionCurrent Assets
CategoryEfficiency
SignalLower is better
VolatilityModerate
First reportedQ2 2015
Last reportedQ1 2026
Parent metricInventories
How to read this metric
An increase may indicate production bottlenecks or scaling efforts, while a decrease suggests efficient throughput or reduced manufacturing activity.
Detailed definition
Represents the value of goods that have entered the production process but are not yet finished. For a manufacturer like...
Peer comparison
Peers in medical device manufacturing typically maintain lean WIP levels to optimize cash conversion cycles.
Metric ID:
inv_work_in_progressHistorical Data
20 periods
| 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 | $391.69M | $431.65M | $385.04M | $454.72M | $471.35M | $515.94M | $384.39M | $396.42M | $325.61M | $300.41M | $225.63M | $290.74M | $284.08M | $337.75M | $357.32M | $307.48M | $282.89M | $315.93M | $352.34M | $388.36M |
| QoQ Change | — | +10.2% | -10.8% | +18.1% | +3.7% | +9.5% | -25.5% | +3.1% | -17.9% | -7.7% | -24.9% | +28.9% | -2.3% | +18.9% | +5.8% | -13.9% | -8.0% | +11.7% | +11.5% | +10.2% |
| YoY Change | — | — | — | — | +20.3% | +19.5% | -0.2% | -12.8% | -30.9% | -41.8% | -41.3% | -26.7% | -12.8% | +12.4% | +58.4% | +5.8% | -0.4% | -6.5% | -1.4% | +26.3% |
| % of Inventories | 14.6% | 15.0% | 12.5% | 13.1% | 11.9% | 11.8% | 8.0% | 8.1% | 6.8% | 6.3% | 5.1% | 6.7% | 6.7% | 8.0% | 8.2% | 6.9% | 6.6% | 7.7% | 8.7% | 9.7% |
| Share Change | — | +0.5pp | -2.5pp | +0.5pp | -1.2pp | -0.1pp | -3.9pp | +0.1pp | -1.4pp | -0.4pp | -1.2pp | +1.6pp | +0.0pp | +1.3pp | +0.2pp | -1.3pp | -0.3pp | +1.1pp | +1.0pp | +1.0pp |
Range$225.63M – $515.94M
CAGR-0.2%
Avg YoY Growth-2.0%
Median YoY Growth-0.9%
Current Streak3 quarters growth
Work in process at Other Companies
Frequently Asked Questions
- What is Lam Research's work in process?
- Lam Research (LRCX) reported work in process of $388.36M in Q1 2026.
- How has Lam Research's work in process changed year-over-year?
- Lam Research's work in process increased by 26.3% year-over-year, from $307.48M to $388.36M.
- What is the long-term trend for Lam Research's work in process?
- Over 4 years (2021 to 2025), Lam Research's work in process has grown at a -7.8% compound annual growth rate (CAGR), from $391.69M to $282.89M.
- What does work in process mean?
- The value of goods currently in the middle of the manufacturing process.