What are Lam Research's profit margins?

Lam Research (LRCX) runs a 50.0% gross margin and a 34.3% operating margin, with a 30.9% net margin.

Where do Lam Research's ratios come from?

Every ratio is computed from Lam Research's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Lam Research LRCX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	TTM Q3 '26	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25
Profitability
Gross margin	197.8%+7.4pp	195.8%+6.6pp	193.6%+6.8pp	191.8%+7.6pp	190.4%+8.9pp
Operating margin	133%+15.2pp	129.6%+14.6pp	125.4%+12.7pp	121.3%+9.1pp	117.9%+4.6pp
Net margin	119.9%+14.5pp	116.1%+12.6pp	112.4%+11.2pp	108.8%+8.5pp	105.4%+4.9pp
EBITDA margin	141%+14.0pp	137.9%+13.3pp	133.9%+11.5pp	130.2%+8.3pp	127.1%+4.6pp
Free cash flow margin	115.6%+8.9pp	110.1%-6.4pp	104.8%-20.6pp	107.6%-15.3pp	106.7%-14.4pp
Returns
Return on equity	252.8%+54.4pp	239.2%+50.0pp	224.1%+43.4pp	210.9%+28.0pp	198.4%-1.1pp
Return on assets	117.8%+29.5pp	109.3%+26.1pp	101.4%+22.2pp	94.6%+15.5pp	88.3%+4.5pp
Return on invested capital	288.6%+78.1pp	273.2%+74.3pp	252.3%+64.6pp	228.9%+42.3pp	210.5%+12.7pp
Efficiency
Asset turnover	3.9×+0.6×	3.8×+0.5×	3.6×+0.5×	3.5×+0.3×	3.3×0.0×
Inventory turnover	9.6×+2.1×	9.1×+2.0×	8.6×+1.7×	8×+1.0×	7.5×+0.1×
Liquidity
Current ratio	9.2×-1.3×	9.1×-1.7×	9.4×-2.0×	9.7×-2.2×	10.5×-1.6×
Quick ratio	6.5×-0.6×	6.4×-0.9×	6.5×-1.1×	6.7×-1.1×	7.1×-0.7×
Cash ratio	3.9×-0.7×	4×-0.9×	4×-1.1×	4.2×-1.0×	4.5×-0.6×
Leverage
Debt-to-equity	1.7×-0.5×	1.8×-0.6×	2×-0.5×	2.1×-0.4×	2.2×-0.2×
Debt-to-assets	0.8×-0.2×	0.9×-0.2×	0.9×-0.2×	1×-0.1×	1×-0.1×
Net debt / EBITDA	-1×-0.3×	-1×-0.4×	-0.9×-0.2×	-0.8×-0.3×	-0.7×-0.3×
Per Share
Book value per share	$32.13+18.3%	$31.10+20.1%	$29.88+18.2%	$28.34+14.1%	$27.17+11.3%
Valuation
Market capitalization	$772.99B+79.2%	$599.5B+28.9%	$477.43B+0.6%	$414.61B-8.1%	$431.4B+8.6%
Enterprise value	$766.37B+79.0%	$592.93B+28.3%	$471.88B0.0%	$410.2B-8.7%	$428.08B+8.2%
Price / earnings	126.3×+22.1×	106.5×-12.8×	93.6×-33.8×	90.6×-31.3×	104.2×-0.4×
Price / sales	38×+10.7×	31.2×+0.4×	26.4×-5.8×	24.6×-6.0×	27.3×+1.1×
Price / book	75.4×+26.2×	60×+4.8×	49.3×-7.8×	45.3×-9.6×	49.2×+0.2×
EV / EBITDA	106.4×+20.7×	88.8×-9.6×	77.7×-26.9×	75×-25.0×	85.7×+0.3×
EV / sales	37.7×+10.6×	30.8×+0.2×	26.1×-5.9×	24.4×-6.1×	27.1×+1.0×
Free cash flow yield	12.9%-3.2pp	14.7%-0.9pp	16.1%+0.2pp	17.4%+0.6pp	16.1%-3.2pp
Earnings yield	13.2%-3.0pp	15.7%+1.7pp	17.4%+4.6pp	17.8%+4.0pp	16.2%-0.1pp
Dividend yield	2.7%-1.4pp	3.4%-0.3pp	4%+0.6pp	4.3%+0.7pp	4.1%+0.2pp
PEG ratio	2.9×—	2.7×—	2.8×—	14.5×—	——

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about Lam Research.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

Questions, answered.

What are Lam Research's profit margins?: Lam Research (LRCX) runs a 50.0% gross margin and a 34.3% operating margin, with a 30.9% net margin.
Where do Lam Research's ratios come from?: Every ratio is computed from Lam Research's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.