Common-Size Balance Sheet: Assets
Quarterly Data
Lam Research Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-Q (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-K (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-24), 10-Q (reporting date: 2023-09-24), 10-K (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-Q (reporting date: 2022-09-25), 10-K (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-Q (reporting date: 2021-09-26), 10-K (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-Q (reporting date: 2020-09-27).
The asset structure exhibits a gradual shift from a predominantly liquid position toward a higher concentration of long-term investments. Total current assets declined from 74.88% of total assets in September 2020 to 66.34% by June 2026, while long-term assets rose proportionally from 25.12% to 33.66% over the same period.
- Liquidity and Working Capital Trends
- Cash and cash equivalents displayed significant volatility, peaking at 31.20% in June 2024 before contracting to 23.71% by June 2026. Accounts receivable followed a cyclical pattern, increasing from 15.39% in 2020 to a peak of 25.09% in June 2022, dropping to a low of 12.06% in March 2024, and rising again to 22.69% by June 2026. Inventory levels saw a sustained increase during the first half of the period, rising from 14.20% to a peak of 25.64% in June 2023, followed by a gradual stabilization around 18.17%.
- A notable contraction occurred in prepaid expenses and other current assets, which fell sharply from 17.86% in September 2020 to approximately 1.77% by June 2026, indicating a fundamental change in the composition of short-term holdings.
- Long-Term Asset Expansion
- Net property and equipment showed a consistent upward trajectory, growing from 7.53% to 12.56% of total assets, with a peak of 13.72% in March 2026. This suggests a strategic increase in capital expenditures and infrastructure investment.
- Other assets experienced the most steady growth among long-term categories, nearly doubling from 6.66% in September 2020 to 13.03% in June 2026.
- Goodwill and intangible assets remained relatively stable, though a slight downward trend is observable, moving from 10.93% at the start of the period to 8.06% by June 2026, likely reflecting amortization or a lower proportion relative to the growth of other asset classes.
Overall, the balance sheet reflects a strategic transition characterized by a reduction in highly liquid prepaid assets and a corresponding increase in fixed assets and other long-term holdings, while maintaining a substantial, though fluctuating, cash reserve.
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