Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

$24.99

Analysis of Inventory

Microsoft Excel

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Inventory Disclosure

Lam Research Corp., balance sheet: inventory

US$ in thousands

Microsoft Excel
Jun 29, 2025 Jun 30, 2024 Jun 25, 2023 Jun 26, 2022 Jun 27, 2021 Jun 28, 2020
Raw materials
Work-in-process
Finished goods
Inventories

Based on: 10-K (reporting date: 2025-06-29), 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).


Raw Materials
The raw materials inventory shows a general upward trend from 2020 to 2023, increasing from approximately $1.16 billion to about $3.20 billion. However, this is followed by a decline in the subsequent two years, with values decreasing to approximately $2.92 billion in 2024 and further to $2.66 billion in 2025.
Work-in-Process
Work-in-process inventory rose significantly between 2020 and 2022, reaching a peak of roughly $471 million. Thereafter, a notable reduction occurred in 2023, dropping to about $326 million, and it continued to decrease slightly in the following years, reaching approximately $283 million by 2025.
Finished Goods
Finished goods inventory exhibited consistent growth from 2020 through 2023, climbing from nearly $487 million to around $1.29 billion. This upward movement was interrupted in 2024 with a decrease to about $1.01 billion, followed by a rebound to approximately $1.36 billion in 2025.
Inventories (Total)
Total inventories tracked the aggregate of the components above, showing strong growth from 2020 to 2023, increasing from roughly $1.90 billion to nearly $4.82 billion. A contraction was observed in 2024, dropping to about $4.22 billion, followed by a modest increase to approximately $4.31 billion in 2025.
Overall Insight
The inventory data demonstrates a pattern of robust growth through 2023, suggesting an expansion phase potentially linked to increased production or stockpiling. The declines in raw materials and work-in-process inventories post-2023 may indicate improved inventory management, shifts in supply chain dynamics, or changes in production strategy. The fluctuations in finished goods suggest adjustments in sales or distribution during the period. The slight recovery of total inventories in 2025 points to a possible stabilization after the reduction experienced in 2024.