Analysis of Inventory
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Inventory Disclosure
Lam Research Corp., balance sheet: inventory
US$ in thousands
| Jun 30, 2024 | Jun 25, 2023 | Jun 26, 2022 | Jun 27, 2021 | Jun 28, 2020 | Jun 30, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||||
| Work-in-process | |||||||||||||
| Finished goods | |||||||||||||
| Inventories |
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).
- Inventory Composition and Overall Trends
- The total inventory levels showed a consistent upward trend from June 30, 2019, to June 25, 2023, increasing from approximately $1.54 billion to about $4.82 billion. This represents more than a threefold increase over the four-year period. However, by June 30, 2024, total inventories decreased to approximately $4.22 billion, indicating a moderation in the previously strong growth.
- Raw Materials
- Raw materials inventory saw a steady increase from around $995 million in 2019 to a peak of about $3.20 billion in June 2023. Following this peak, there was a decline to approximately $2.92 billion in June 2024. This suggests an accumulation of raw materials over time, followed by a reduction in the most recent year.
- Work-in-Process
- Work-in-process inventory rose significantly from $174 million in 2019 to nearly $471 million in June 2022. However, after reaching this peak, there was a decline to about $326 million in June 2023 and a further decrease to $284 million in June 2024. This pattern indicates a build-up of intermediate goods up to 2022, with a subsequent reduction in the following two years.
- Finished Goods
- Finished goods inventory exhibited a consistent increase from $371 million in 2019 to a high of approximately $1.29 billion in June 2023. Subsequently, it declined to around $1.01 billion in June 2024. This shows an expansion in finished goods held for sale over the years, with a recent contraction.
- Insights
- The overall inventory growth from 2019 to 2023 reflects expansion in production capacity or inventory stocking possibly in anticipation of demand increases. The decreases observed in 2024 across all inventory categories could indicate efforts to optimize inventory levels, manage supply chain efficiency, or respond to changes in market demand. The disproportionate increases and subsequent reductions in raw materials and work-in-process inventories may suggest adjustments in production planning or lead time management.