Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Lam Research Corp., consolidated balance sheet: assets

US$ in thousands

		Jun 30, 2024		Jun 25, 2023		Jun 26, 2022		Jun 27, 2021		Jun 28, 2020		Jun 30, 2019
	Cash and cash equivalents
	Accounts receivable, less allowance
	Inventories
	Prepaid expenses and other current assets
	Current assets
	Property and equipment, net
	Goodwill
	Intangible assets, net
	Other assets
	Long-term assets
	Total assets

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).

The financial data indicates several notable trends in the company's asset composition and overall financial position over the six-year period analyzed.

Cash and Cash Equivalents: There is a general upward trend in cash and cash equivalents from 2019 through 2024, with a peak in 2024 at approximately 5.85 billion USD. This suggests strong liquidity and improved cash management over time, despite a dip in 2022.
Accounts Receivable, Net: Accounts receivable increased steadily from 2019 to 2022, reaching its highest level of around 4.31 billion USD in 2022. However, there is a noticeable decline in the two most recent years, dropping to approximately 2.52 billion USD by 2024. This could indicate improved collections or a reduction in sales on credit.
Inventories: Inventories exhibit continuous growth from 2019 to 2023, peaking at roughly 4.82 billion USD, followed by a decrease in 2024 to about 4.22 billion USD. The rising trend indicates increasing stock levels which may reflect production scaling or higher demand, while the recent decrease might suggest inventory optimization or reduced production.
Prepaid Expenses and Other Current Assets: There is a marked decline in prepaid expenses and other current assets from 2019 onwards, falling significantly from 1.91 billion USD in 2019 to under 0.30 billion USD in 2024. This drop may point to changes in expenses prepayment or reclassification of current assets.
Current Assets: Overall current assets increased consistently from approximately 8.56 billion USD in 2019 to a peak of 13.23 billion USD in 2023, before slightly decreasing to 12.88 billion USD in 2024. This overall growth reflects strengthening short-term asset positions, supporting operational liquidity.
Property and Equipment, Net: This asset category shows a clear rising trend, expanding from about 1.06 billion USD in 2019 to over 2.15 billion USD in 2024. This trend signals ongoing investments in physical capital and capacity expansion.
Goodwill: Goodwill remains relatively stable over the years, with minor increases reaching around 1.63 billion USD by 2024. This consistency suggests stable intangible asset valuations from past acquisitions.
Intangible Assets, Net: Intangible assets exhibit a declining trend from 2019 through 2022, reaching a low point near 0.10 billion USD, followed by an increase in 2023 and slight decline again in 2024. These fluctuations may indicate amortization impacts or asset revaluations.
Other Assets: Other assets steadily increase during the period, growing from approximately 0.68 billion USD in 2019 to 1.94 billion USD in 2024, indicating accumulation or acquisition of additional non-current assets.
Long-Term Assets: Long-term assets rise consistently from around 3.44 billion USD in 2019 to roughly 5.86 billion USD in 2024, reflecting ongoing investments in property, intangible, and other long-term categories supporting future growth.
Total Assets: Total assets increased steadily over the six years from about 12.0 billion USD in 2019 to close to 18.7 billion USD in 2023, with a slight decline to 18.7 billion USD in 2024. Overall, this indicates growth in the company’s asset base, supporting expansion initiatives and operational scaling.

Assets: Selected Items

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Current Assets: Selected Items