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Lam Research LRCX Operating margin

Operating margin at other companies

Applied Materials logo
Applied MaterialsAMAT
28.6%-1.1pp
Entegris logo
EntegrisENTG
14.7%-1.9pp
Amkor Technology logo
Amkor TechnologyAMKR
7.6%+1.3pp
Credo Technology Group Holding Ltd logo
Credo Technology Group Holding LtdCRDO
33.3%+24.8pp
Keysight Technologies logo
Keysight TechnologiesKEYS
18.2%+1.3pp
Dell Technologies logo
Dell TechnologiesDELL
7.9%+1.3pp

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$467.94B+186%
Enterprise value$466.91B+188%
P/E69.8×+34.6×
P/S21.6×+12.0×

Profitability

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Gross margin50%+2.0pp
Net margin30.9%+3.8pp

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

Calculated from Lam Research’s reported figures.

Based on trailing twelve months.

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 operating margin?
Lam Research (LRCX) reported operating margin of 34.3% in Q1 2026.
How has Lam Research's operating margin changed year-over-year?
Lam Research's operating margin increased by 11.0% year-over-year, from 30.9% to 34.3%.
What is the long-term trend for Lam Research's operating margin?
Over 4 years (2021 to 2025), Lam Research's operating margin has grown at a 0.9% compound annual growth rate (CAGR), from 116.9% to 121.3%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.