Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Lam Research Corp., consolidated income statement (quarterly data)
US$ in thousands
Based on: 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), 10-K (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-23), 10-Q (reporting date: 2018-09-23).
- Revenue
- Revenue exhibits an overall upward trajectory from September 2018 to September 2024, rising from approximately $2.33 billion to $4.72 billion. The growth pattern includes some fluctuations, with a notable dip occurring around March to June 2023, followed by a recovery and continued increase through 2024.
- Cost of Goods Sold (COGS)
- COGS trends upward in alignment with revenue, increasing from about $1.27 billion in September 2018 to roughly $2.41 billion by September 2024. Despite this rise, the gross margin remains generally positive, indicating manageable production or procurement costs relative to sales. Minor adjustments for restructuring charges are noted, particularly from late 2022 to early 2023, where these charges negatively impacted COGS.
- Gross Margin
- Gross margin shows significant growth over the period, increasing from approximately $1.06 billion to over $2.31 billion. This increase suggests improvement in production efficiency or a favorable product mix. However, the margin exhibits a slight decline during the mid-2023 period consistent with the revenue dip, before recovering thereafter.
- Research and Development (R&D) Expenses
- R&D expenses steadily rise from around $292 million in September 2018 to $526 million in September 2024. The consistent increase reflects ongoing investment in innovation and development activities, indicating prioritization of long-term growth through technological advancements.
- Selling, General, and Administrative (SG&A) Expenses
- SG&A expenses increase moderately from approximately $175 million to $226 million over the observed periods. Some fluctuations are evident, but the general upward trend matches the company's growth and operational scaling.
- Operating Expenses
- Operating expenses, encompassing both R&D and SG&A, show a steady increase from $466 million in September 2018 to around $752 million by September 2024. This rise aligns with higher investment in growth-supporting areas as well as the expanding business scale. Restructuring charges within operating expenses appear sporadically, with some negative amounts in late 2022 to early 2023, which slightly impact the expense totals.
- Operating Income
- Operating income presents an overall upward trend from $592 million to approximately $1.56 billion, denoting a more than doubling of profitability from operational activities. Despite some fluctuations, the rising operating income indicates effective management of expenses relative to revenue growth and operational scaling.
- Other Income (Expense), Net
- This category demonstrates volatility, with values alternating between negative and positive numbers throughout the periods. The variability suggests irregular gains or losses from non-core activities, including investments or foreign exchange impacts, without a clear long-term trend.
- Income Before Income Taxes
- Income before taxes increases from approximately $591 million to $1.54 billion, reflecting strong growth in profitability aligned with operating income performance despite fluctuations caused by other income or expense items.
- Income Tax Expense
- Income tax expense fluctuates significantly, ranging from about $58 million in the early periods to upwards of $206 million in later periods, correlating with pre-tax income trends but showing variability that might be affected by tax planning, changes in tax rates, or one-time tax events.
- Net Income
- Net income follows a general upward pattern similar to revenue and operating income, increasing from roughly $533 million in September 2018 to over $1.33 billion by September 2024. The net income dips slightly in mid-2023, aligned with revenue and gross margin decreases, but rebounds steadily thereafter.