Stock Analysis on Net
Stock Analysis on Net
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Lam Research Corp. (NASDAQ:LRCX)

Common-Size Income Statement

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Lam Research Corp., common-size consolidated income statement

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12 months ended: Jun 28, 2020 Jun 30, 2019 Jun 24, 2018 Jun 25, 2017 Jun 26, 2016 Jun 28, 2015
Revenue 100.00 100.00 100.00 100.00 100.00 100.00
Cost of goods sold -54.12 -54.85 -53.37 -55.03 -55.51 -56.57
Gross margin 45.88% 45.15% 46.63% 44.97% 44.49% 43.43%
Research and development -12.47 -12.34 -10.74 -12.90 -15.52 -15.69
Selling, general, and administrative -6.79 -7.28 -6.88 -8.33 -10.72 -11.25
Goodwill impairment 0.00 0.00 0.00 0.00 0.00 -1.51
Operating expenses -19.26% -19.62% -17.62% -21.23% -26.24% -28.45%
Operating income 26.62% 25.53% 29.01% 23.74% 18.25% 14.98%
Interest income 0.85 1.02 0.77 0.72 0.50 0.37
Interest expense -1.77 -1.21 -0.88 -1.47 -2.29 -1.40
Gains on deferred compensation plan related assets, net 0.06 0.11 0.13 0.22 -0.07 0.17
Loss on impairment of investments 0.00 0.00 -0.38 0.00 0.00 0.00
Foreign exchange gains (losses), net -0.03 0.01 -0.03 -0.01 0.01 0.04
Other, net -0.09 -0.11 -0.17 -0.60 -0.09 -0.08
Other expense, net -0.98% -0.19% -0.56% -1.13% -1.94% -0.90%
Income before income taxes 25.64% 25.34% 28.45% 22.61% 16.31% 14.09%
Income tax expense -3.22 -2.64 -6.96 -1.42 -0.78 -1.62
Net income 22.42% 22.70% 21.49% 21.19% 15.53% 12.47%

Based on: 10-K (filing date: 2020-08-18), 10-K (filing date: 2019-08-20), 10-K (filing date: 2018-08-14), 10-K (filing date: 2017-08-15), 10-K (filing date: 2016-08-17), 10-K (filing date: 2015-08-13).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Lam Research Corp.’s operating income as a percentage of revenue decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lam Research Corp.’s income before income taxes as a percentage of revenue decreased from 2018 to 2019 but then slightly increased from 2019 to 2020.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lam Research Corp.’s net income as a percentage of revenue increased from 2018 to 2019 but then slightly decreased from 2019 to 2020.