Stock Analysis on Net
Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

$24.99

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Lam Research Corp., consolidated cash flow statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: 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 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019
Net income
Depreciation and amortization
Deferred income taxes
Equity-based compensation expense
Other, net
Changes in operating assets and liabilities
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities
Capital expenditures and intangible assets
Business acquisitions, net of cash acquired
Purchases of available-for-sale securities
Proceeds from maturities of available-for-sales securities
Proceeds from sales of available-for-sale securities
Other, net
Net cash (used for) provided by investing activities
Principal payments on debt, including finance lease obligations and payments for debt issuance costs
Proceeds from borrowings on revolving credit facility
Repayment of borrowings on revolving credit facility
Proceeds from issuance of long-term debt, net of issuance costs
Treasury stock purchases, including excise tax payments
Dividends paid
Reissuance of treasury stock related to employee stock purchase plan
Proceeds from issuance of common stock, net issuance costs
Other, net
Net cash used for financing activities
Effect of exchange rate changes on cash, cash equivalents, and restricted cash
Net change in cash, cash equivalents, and restricted cash

Based on: 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), 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).

The financial data reveals a long-term growth trajectory in profitability and operating cash generation, punctuated by periods of volatility in working capital and aggressive shareholder return strategies.

Operating Performance and Cash Generation
Net income exhibited a strong upward trend from September 2019 ($465.8 million) through December 2022 ($1.47 billion), followed by a cyclical dip in 2023 and a subsequent recovery reaching $1.83 billion by March 2026. Net cash provided by operating activities generally mirrored this growth, although it was frequently impacted by significant fluctuations in operating assets and liabilities. For instance, a peak in operating cash flow was observed in June 2025 at $2.55 billion, driven by positive adjustments in working capital.
Capital Investment Trends
There is a clear and consistent increase in capital expenditures and intangible asset investments. Expenditures rose from $39.3 million in September 2019 to $331.6 million by March 2026. This steady escalation suggests a sustained commitment to expanding infrastructure and technological capabilities to support long-term growth.
Investing Activity Shifts
A fundamental shift in investing strategy is evident. From 2019 through 2021, investing activities were dominated by the purchase and sale of available-for-sale securities, often involving billions of dollars in liquidity movements. By 2022, these security transactions diminished substantially, leaving capital expenditures as the primary driver of cash outflows from investing activities.
Shareholder Return and Financing Strategy
Financing activities are characterized by a consistent and aggressive return of capital to shareholders. Dividend payments grew steadily from $158.9 million per quarter in late 2019 to $325.8 million by March 2026. Simultaneously, treasury stock purchases remained a primary use of cash, frequently exceeding $1 billion in a single quarter, such as the $1.47 billion spent in December 2025.
Liquidity and Cash Flow Volatility
The net change in cash shows high quarterly variance, largely attributable to the timing of large-scale share repurchases and volatile swings in operating assets and liabilities. Despite this volatility, the company maintained the ability to fund both increasing capital expenditures and substantial shareholder distributions through its operating cash flows.