Stock Analysis on Net
Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Lam Research Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 28, 2026 Mar 29, 2026 Dec 28, 2025 Sep 28, 2025 Jun 29, 2025 Mar 30, 2025 Dec 29, 2024 Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 24, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 25, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 26, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 27, 2020 Sep 27, 2020
Trade accounts payable 5.54 5.15 4.80 3.94 4.00 4.27 4.14 3.61 3.28 2.91 2.66 2.85 2.51 3.13 4.79 6.12 5.88 6.07 5.71 5.38 5.22 4.98 4.70 4.40
Accrued expenses and other current liabilities 9.99 9.98 10.60 11.16 11.22 10.02 10.56 11.24 9.61 9.80 10.52 11.44 10.71 10.34 10.77 10.41 11.48 9.86 10.61 10.50 10.82 8.45 9.62 8.86
Deferred profit 9.69 10.06 10.12 12.08 12.02 9.43 9.72 9.92 7.56 8.76 9.55 8.60 9.03 9.57 8.08 10.42 9.14 9.31 6.80 5.98 6.09 4.80 3.62 3.83
Current portion of long-term debt and finance lease obligations 0.02 0.02 3.52 3.44 3.53 3.78 2.54 2.58 2.69 2.76 0.02 0.02 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04 0.07 5.40 5.42 5.54
Current liabilities 25.23% 25.21% 29.05% 30.63% 30.77% 27.49% 26.97% 27.35% 23.14% 24.24% 22.74% 22.91% 22.28% 23.08% 23.67% 26.99% 26.55% 25.29% 23.15% 21.90% 22.20% 23.63% 23.36% 22.63%
Long-term debt and finance lease obligations, less current portion 15.85 17.94 17.44 17.03 17.48 18.68 22.57 22.93 23.89 24.50 26.51 26.87 26.64 25.97 26.01 26.69 29.07 30.14 29.90 32.05 31.40 32.66 32.48 33.16
Income taxes payable 2.90 2.99 3.12 2.95 2.83 3.46 3.38 3.40 4.34 4.55 4.25 4.21 4.70 4.60 4.49 4.49 5.41 5.53 5.34 5.66 5.97 6.05 5.87 5.84
Other long-term liabilities 3.02 2.95 2.97 2.85 2.72 2.74 2.69 2.94 3.07 2.83 2.72 2.61 2.67 2.66 2.58 2.24 2.46 2.72 2.80 2.99 2.51 2.50 2.45 2.33
Long-term liabilities 21.77% 23.88% 23.53% 22.83% 23.03% 24.88% 28.64% 29.27% 31.30% 31.88% 33.48% 33.68% 34.00% 33.23% 33.09% 33.41% 36.94% 38.39% 38.04% 40.71% 39.88% 41.20% 40.80% 41.34%
Total liabilities 47.00% 49.09% 52.57% 53.46% 53.80% 52.37% 55.60% 56.63% 54.44% 56.11% 56.23% 56.59% 56.29% 56.31% 56.76% 60.41% 63.49% 63.67% 61.19% 62.61% 62.07% 64.84% 64.16% 63.97%
Temporary equity, convertible notes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.04 0.04
Preferred stock, at par value of $0.001 per share; none outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, at par value of $0.001 per share 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 39.29 43.55 41.83 40.16 40.75 42.71 42.54 42.51 43.88 44.21 42.58 42.50 41.58 39.91 39.60 40.02 43.12 43.94 43.27 45.69 44.38 45.29 44.60 44.91
Treasury stock, at cost -134.29 -150.77 -141.20 -131.32 -130.07 -132.49 -131.17 -129.91 -129.99 -131.21 -122.47 -120.65 -114.64 -107.19 -104.51 -104.65 -113.29 -112.22 -103.65 -108.34 -98.46 -99.53 -91.97 -89.11
Accumulated other comprehensive loss -0.54 -0.58 -0.46 -0.34 -0.29 -0.62 -0.68 -0.45 -0.70 -0.70 -0.63 -0.65 -0.54 -0.55 -0.57 -0.71 -0.64 -0.59 -0.53 -0.53 -0.40 -0.41 -0.37 -0.55
Retained earnings 148.54 158.71 147.25 138.04 135.81 138.02 133.70 131.22 132.36 131.58 124.29 122.21 117.31 111.52 108.71 104.93 107.32 105.20 99.71 100.56 92.40 89.80 83.54 80.74
Stockholders’ equity 53.00% 50.91% 47.43% 46.54% 46.20% 47.63% 44.40% 43.37% 45.56% 43.89% 43.77% 43.41% 43.71% 43.69% 43.24% 39.59% 36.51% 36.33% 38.81% 37.39% 37.93% 35.14% 35.80% 35.99%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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 balance sheet structure reveals a strategic shift in the company's capital composition, characterized by a substantial reduction in total liabilities and a corresponding increase in stockholders' equity over the analyzed period. Total liabilities decreased from 63.97% of the total balance sheet in September 2020 to 47.00% by June 2026, indicating a strengthened solvency position and a reduced reliance on external debt financing.

Liability Structure and Debt Management
A consistent downward trend is observed in long-term liabilities, which fell from 41.34% in September 2020 to 21.77% in June 2026. This decline is primarily driven by the reduction of long-term debt and finance lease obligations, which dropped from 33.16% to 15.85%. The current portion of long-term debt exhibited a cyclical pattern, remaining near zero between June 2021 and September 2023, spiking to approximately 3% throughout 2024 and early 2025, and returning to negligible levels (0.02%) by June 2026, suggesting a structured debt repayment schedule.
Current Liabilities and Operational Obligations
Current liabilities remained relatively stable for several years before showing increased volatility. Trade accounts payable peaked at 6.12% in September 2022, dipped to 2.51% in June 2023, and recovered to 5.54% by June 2026. Deferred profit showed a general upward trajectory, rising from 3.83% in September 2020 to a peak of 12.08% in June 2025, before settling at 9.69% in June 2026. Income taxes payable followed a gradual downward trend, decreasing from 5.84% to 2.90% over the period.
Equity Composition and Shareholder Value
Stockholders' equity increased from 35.99% in September 2020 to 53.00% in June 2026. This growth was heavily driven by a significant rise in retained earnings, which climbed from 80.74% to 148.54% of total liabilities and equity. Simultaneously, there was a substantial increase in the contra-equity account for treasury stock, moving from -89.11% to -134.29%. This pattern indicates that while the company is generating significant internal capital through earnings, it is aggressively returning value to shareholders through share repurchases.

Overall, the financial trajectory indicates a transition toward a more equity-funded capital structure. The aggressive reduction in long-term debt, coupled with the growth in retained earnings, suggests an improved risk profile and high operational profitability used to fund both balance sheet deleveraging and shareholder returns.

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