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Discontinued — last reported Q4 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$6.7B+30.0%
Gross profit$3.5B+34.3%
Operating income$2.5B+44.4%
Net income$2.3B+32.4%
EPS (diluted)$1.81+35.1%

Balance sheet

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Cash & equivalents$5.6B-12.9%
Total debt$3.7B-21.5%
Total equity$12.5B+26.5%
Total assets$23.5B+10.2%

Cash flow

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Operating cash flow$1.5B-42.9%
CapEx-$188.8M-210%
Free cash flow$1.3B-46.7%

Valuation

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Market cap$366.65B+194%
Enterprise value$364.8B+196%
P/E50.5×+27.2×
P/S15.8×+9.0×

Profitability

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Gross margin50.5%+1.8pp
Operating margin35.3%+3.3pp
Net margin31.3%+2.2pp
FCF margin21.1%-8.3pp

Returns & leverage

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Return on equity65.1%+6.8pp
Debt / equity0.3×-0.2×
Current ratio2.6×+0.4×

Where this comes from

Reported directly by Lam Research in its filing.

The source filing: Lam Research’s 8-K, filed July 29, 2026. Open the filing →

Filed
Jul 29, 2026, 4:07 PM EDT
Accession
0000707549-26-000033

FAQ

What is Lam Research's net debt?
Lam Research (LRCX) reported net debt of -$1.84B in Q2 2026.
How has Lam Research's net debt changed year-over-year?
Lam Research's net debt decreased by 11.7% year-over-year, from -$1.65B to -$1.84B.
What is the long-term trend for Lam Research's net debt?
Over 5 years (2021 to 2026), Lam Research's net debt has grown at a 29.5% compound annual growth rate (CAGR), from $505.98M to -$1.84B.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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