Analysis of Income Taxes
- Income Tax Expense (Benefit)
- Effective Income Tax Rate (EITR)
- Components of Deferred Tax Assets and Liabilities
- Adjustments to Financial Statements: Removal of Deferred Taxes
- Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
- Adjusted Net Profit Margin
- Adjusted Total Asset Turnover
- Adjusted Financial Leverage
- Adjusted Return on Equity (ROE)
- Adjusted Return on Assets (ROA)
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Price to Sales (P/S) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Income Tax Expense (Benefit)
Lam Research Corp., income tax expense (benefit), continuing operations
US$ in thousands
| 12 months ended: | Jun 30, 2024 | Jun 25, 2023 | Jun 26, 2022 | Jun 27, 2021 | Jun 28, 2020 | Jun 30, 2019 | |||||||
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| Provision for income taxes |
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
| Item | Description | The company |
|---|---|---|
| Current | Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. | Lam Research Corp. current decreased from 2022 to 2023 and from 2023 to 2024. |
| Deferred | Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. | Lam Research Corp. deferred increased from 2022 to 2023 but then slightly decreased from 2023 to 2024. |
| Provision for income taxes | Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Lam Research Corp. provision for income taxes increased from 2022 to 2023 but then decreased significantly from 2023 to 2024. |
Effective Income Tax Rate (EITR)
Lam Research Corp., effective income tax rate (EITR) reconciliation
| Jun 30, 2024 | Jun 25, 2023 | Jun 26, 2022 | Jun 27, 2021 | Jun 28, 2020 | Jun 30, 2019 | ||
|---|---|---|---|---|---|---|---|
| Federal statutory tax rate | |||||||
| Effective tax rate |
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
| Item | Description | The company |
|---|---|---|
| Effective tax rate | Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. | Lam Research Corp. effective tax rate increased from 2022 to 2023 and from 2023 to 2024. |
Components of Deferred Tax Assets and Liabilities
Lam Research Corp., components of deferred tax assets and liabilities
US$ in thousands
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
| Item | Description | The company |
|---|---|---|
| Gross deferred tax assets | Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Lam Research Corp. gross deferred tax assets increased from 2022 to 2023 and from 2023 to 2024. |
| Net deferred tax assets | Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. | Lam Research Corp. net deferred tax assets increased from 2022 to 2023 and from 2023 to 2024. |
| Net deferred tax assets (liabilities) | Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. | Lam Research Corp. net deferred tax assets (liabilities) increased from 2022 to 2023 and from 2023 to 2024. |
Adjustments to Financial Statements: Removal of Deferred Taxes
Lam Research Corp., adjustments to financial statements
US$ in thousands
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
Lam Research Corp., Financial Data: Reported vs. Adjusted
Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)
Lam Research Corp., adjusted financial ratios
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
| Financial ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Lam Research Corp. adjusted net profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Lam Research Corp. adjusted total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Lam Research Corp. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Lam Research Corp. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Lam Research Corp. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |
Lam Research Corp., Financial Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
2024 Calculations
1 Net profit margin = 100 × Net income ÷ Revenue
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income ÷ Revenue
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by total revenue. | Lam Research Corp. adjusted net profit margin ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted Total Asset Turnover
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
2024 Calculations
1 Total asset turnover = Revenue ÷ Total assets
= ÷ =
2 Adjusted total asset turnover = Revenue ÷ Adjusted total assets
= ÷ =
| Activity ratio | Description | The company |
|---|---|---|
| Adjusted total asset turnover | An activity ratio calculated as total revenue divided by adjusted total assets. | Lam Research Corp. adjusted total asset turnover ratio deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted Financial Leverage
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
2024 Calculations
1 Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =
2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =
| Solvency ratio | Description | The company |
|---|---|---|
| Adjusted financial leverage | A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity. Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income. |
Lam Research Corp. adjusted financial leverage ratio decreased from 2022 to 2023 and from 2023 to 2024. |
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
2024 Calculations
1 ROE = 100 × Net income ÷ Stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income ÷ Adjusted stockholders’ equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. | Lam Research Corp. adjusted ROE deteriorated from 2022 to 2023 and from 2023 to 2024. |
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).
2024 Calculations
1 ROA = 100 × Net income ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by adjusted total assets. | Lam Research Corp. adjusted ROA deteriorated from 2022 to 2023 and from 2023 to 2024. |