What is Lam Research's R&D?

Lam Research (LRCX) reported R&D of $583.2M in Q1 2026.

How has Lam Research's R&D changed year-over-year?

Lam Research's R&D increased by 10.9% year-over-year, from $525.9M to $583.2M.

What is the long-term trend for Lam Research's R&D?

Over 3 years (2022 to 2025), Lam Research's R&D has grown at a 9.3% compound annual growth rate (CAGR), from $1.6B to $2.1B.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Lam Research LRCX R&D

R&D at other companies

Applied MaterialsAMAT

$1.03B+15.0%

Veeco InstrumentsVECO

$29.88M+4.8%

KLA CorporationKLAC

$388.76M+15.0%

Axcelis TechnologiesACLS

$28.52M+5.1%

Ichor HoldingsICHR

$5.53M-5.9%

ACM ResearchACMR

$36.55M+32.9%

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$441.66B+252%

Enterprise value$440.63B+256%

P/E65.8×+42.4×

P/S20.4×+13.6×

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:ResearchAndDevelopmentExpense.

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 R&D?: Lam Research (LRCX) reported R&D of $583.2M in Q1 2026.
How has Lam Research's R&D changed year-over-year?: Lam Research's R&D increased by 10.9% year-over-year, from $525.9M to $583.2M.
What is the long-term trend for Lam Research's R&D?: Over 3 years (2022 to 2025), Lam Research's R&D has grown at a 9.3% compound annual growth rate (CAGR), from $1.6B to $2.1B.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.