Stock Analysis on Net
Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Common-Size Income Statement

Lam Research Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Jun 25, 2023 Jun 26, 2022 Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018
Revenue 100.00 100.00 100.00 100.00 100.00 100.00
Cost of goods sold -54.93 -54.31 -53.47 -54.12 -54.85 -53.37
Restructuring charges, net, cost of goods sold -0.45 0.00 0.00 0.00 0.00 0.00
Cost of goods sold -55.38% -54.31% -53.47% -54.12% -54.85% -53.37%
Gross margin 44.62% 45.69% 46.53% 45.88% 45.15% 46.63%
Research and development -9.91 -9.31 -10.21 -12.47 -12.34 -10.74
Selling, general, and administrative -4.78 -5.14 -5.67 -6.79 -7.28 -6.88
Restructuring charges, net, operating expenses -0.24 0.00 0.00 0.00 0.00 0.00
Operating expenses -14.93% -14.45% -15.88% -19.26% -19.62% -17.62%
Operating income 29.69% 31.24% 30.64% 26.62% 25.53% 29.01%
Interest income 0.80 0.09 0.13 0.85 1.02 0.77
Interest expense -1.07 -1.07 -1.43 -1.77 -1.21 -0.88
Gains (losses) on deferred compensation plan related assets, net 0.12 -0.22 0.42 0.06 0.11 0.13
Loss on impairment of investments 0.00 0.00 0.00 0.00 0.00 -0.38
Foreign exchange gains (losses), net -0.04 0.00 -0.05 -0.03 0.01 -0.03
Other, net -0.18 0.11 0.16 -0.09 -0.11 -0.17
Other expense, net -0.38% -1.10% -0.76% -0.98% -0.19% -0.56%
Income before income taxes 29.32% 30.15% 29.88% 25.64% 25.34% 28.45%
Income tax expense -3.43 -3.41 -3.16 -3.22 -2.64 -6.96
Net income 25.88% 26.73% 26.72% 22.42% 22.70% 21.49%

Based on: 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), 10-K (reporting date: 2018-06-24).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. Lam Research Corp. operating income as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
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. income before income taxes as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lam Research Corp. net income as a percentage of revenue increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.