Name: Lam Research Corp. (NASDAQ:LRCX) | Cash Flow Statement (Quarterly)
Creator: Stock Analysis on Net

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

3 months ended:	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
Net income	2,277,282)	1,825,460)	1,593,994)	1,568,660)	1,720,088)	1,330,667)	1,191,018)	1,116,444)	1,020,282)	965,826)	954,266)	887,398)	802,537)	814,008)	1,468,507)	1,425,879)	1,208,934)	1,021,778)	1,194,830)	1,179,744)	1,144,657)	1,071,121)	869,229)	823,451)
Depreciation and amortization	119,642)	116,322)	103,925)	101,644)	98,439)	97,343)	96,200)	94,295)	88,357)	89,922)	90,941)	90,479)	89,604)	91,663)	85,414)	75,751)	87,932)	84,228)	81,705)	79,874)	78,397)	79,453)	76,389)	72,912)
Deferred income taxes	(175,752)	(19,478)	(30,957)	(62,875)	(151,679)	(19,992)	(82,854)	(108,722)	(61,375)	(24,621)	(88,747)	(24,238)	(38,960)	7,195)	(6,680)	(133,616)	(173,987)	(56,878)	(13,550)	(13,023)	(146,029)	(1,136)	(2,462)	(1,850)
Equity-based compensation expense	103,985)	96,616)	88,539)	97,241)	94,286)	87,115)	81,959)	80,011)	79,092)	76,854)	69,901)	67,211)	68,495)	73,911)	73,084)	71,110)	69,588)	68,543)	62,834)	58,099)	56,321)	55,746)	52,109)	55,988)
Other, net	(8,006)	(2,855)	(19,961)	(1,890)	14,240)	1,654)	(8,592)	(457)	(3,999)	10,210)	4,182)	(150)	40,761)	1,559)	12,729)	(2,751)	33,574)	(3,121)	(66,514)	(8,690)	(27,786)	(635)	6,690)	4,339)
Changes in operating assets and liabilities	(859,923)	(874,645)	(255,495)	76,184)	778,814)	(188,124)	(535,789)	386,900)	(259,927)	266,645)	423,297)	(69,537)	160,288)	738,102)	(492,867)	(246,785)	(782,107)	(356,840)	181,201)	(838,480)	330,375)	(39,469)	(657,318)	(312,329)
Adjustments to reconcile net income to net cash provided by operating activities	(820,054)	(684,040)	(113,949)	210,304)	834,100)	(22,004)	(449,076)	452,027)	(157,852)	419,010)	499,574)	63,765)	320,188)	912,430)	(328,320)	(236,291)	(765,000)	(264,068)	245,676)	(722,220)	291,278)	93,959)	(524,592)	(180,940)
Net cash provided by operating activities	1,457,228)	1,141,420)	1,480,045)	1,778,964)	2,554,188)	1,308,663)	741,942)	1,568,471)	862,430)	1,384,836)	1,453,840)	951,163)	1,122,725)	1,726,438)	1,140,187)	1,189,588)	443,934)	757,710)	1,440,506)	457,524)	1,435,935)	1,165,080)	344,637)	642,511)
Capital expenditures and intangible assets	(188,801)	(331,604)	(260,879)	(185,121)	(172,191)	(288,058)	(188,349)	(110,588)	(100,748)	(103,654)	(115,276)	(76,992)	(78,670)	(119,457)	(163,378)	(140,063)	(125,746)	(145,368)	(138,493)	(136,427)	(104,622)	(89,596)	(92,072)	(62,806)
Business acquisitions, net of cash acquired	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(119,955)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Purchases of available-for-sale securities	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(299,362)	(243,160)	(25,297)	(146,647)	(790,525)	(702,028)	(1,750,188)
Proceeds from maturities of available-for-sales securities	—)	—)	—)	—)	—)	—)	—)	—)	—)	11,220)	15,841)	7,275)	26,280)	32,577)	17,743)	14,695)	23,146)	33,027)	27,260)	106,836)	430,721)	662,031)	691,754)	597,252)
Proceeds from sales of available-for-sale securities	—)	—)	—)	—)	—)	—)	—)	—)	—)	3,430)	—)	—)	—)	6,837)	—)	—)	340)	345,519)	541,071)	656,504)	515,891)	362,023)	178,376)	415,862)
Other, net	45,060)	(2,976)	3,096)	(927)	42,940)	(4,857)	12,974)	37)	(865)	(3,356)	(2,523)	(4,966)	(2,790)	(4,289)	(1,657)	(2,435)	26,323)	(28,380)	(595)	(4,923)	(6,282)	(27,997)	(6,090)	(1,786)
Net cash (used for) provided by investing activities	(143,741)	(334,580)	(257,783)	(186,048)	(129,251)	(292,915)	(175,375)	(110,551)	(101,613)	(92,360)	(101,958)	(74,683)	(55,180)	(84,332)	(267,247)	(127,803)	(75,937)	(94,564)	186,083)	596,693)	689,061)	115,936)	69,940)	(801,666)
Principal payments on debt, including finance lease obligations and payments for debt issuance costs	(1,355)	(751,194)	(1,462)	(1,417)	(1,485)	(504,037)	(1,032)	(934)	(949)	(1,060)	(986)	(253,109)	(2,061)	(2,209)	(17,082)	(1,854)	(2,032)	(1,821)	(1,698)	(6,338)	(822,046)	(16,245)	(4,596)	(19,173)
Treasury stock purchases, including excise tax payments	(246,560)	(1,162,837)	(1,466,155)	(975,791)	(1,292,277)	(435,321)	(697,688)	(997,035)	(373,550)	(980,561)	(645,458)	(843,238)	(869,014)	(581,943)	(456,276)	(109,779)	(876,089)	(1,338,006)	(414,815)	(1,236,753)	(431,255)	(1,094,571)	(723,297)	(448,581)
Dividends paid	(325,318)	(325,829)	(327,507)	(291,981)	(295,207)	(295,716)	(297,634)	(260,985)	(261,462)	(262,707)	(264,414)	(230,332)	(232,335)	(233,977)	(235,980)	(205,615)	(208,056)	(210,587)	(211,216)	(185,431)	(185,385)	(186,551)	(187,927)	(167,129)
Reissuance of treasury stock related to employee stock purchase plan	88,780)	—)	67,185)	—)	79,556)	—)	60,557)	—)	66,885)	—)	53,081)	—)	64,903)	—)	44,996)	—)	61,798)	—)	46,380)	—)	56,330)	—)	41,434)	—)
Proceeds from issuance of common stock, net issuance costs	4,426)	9,167)	3,854)	—)	696)	1,993)	(194)	(43)	2,796)	8,235)	1,704)	2,818)	3,438)	—)	877)	6,796)	997)	492)	3,451)	742)	851)	9,626)	8,108)	5,538)
Other, net	(282)	55)	(1,117)	(12,449)	(820)	526)	761)	(324)	(7,871)	300)	(3,821)	(2,151)	(2,917)	(1,399)	1,253)	(489)	(152)	214)	(205)	188)	(269)	(665)	961)	(2,140)
Net cash used for financing activities	(480,309)	(2,230,638)	(1,725,202)	(1,281,638)	(1,509,537)	(1,232,555)	(935,230)	(1,259,321)	(574,151)	(1,235,793)	(859,894)	(1,326,012)	(1,037,986)	(819,528)	(662,212)	(310,941)	(1,023,534)	(1,549,708)	(578,103)	(1,427,592)	(1,381,774)	(1,288,406)	(865,317)	(631,485)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2,056)	(4,979)	(13,337)	(7,059)	29,284)	2,380)	(26,022)	22,682)	(9,616)	(8,452)	6,725)	(11,031)	1,477)	(2,302)	17,878)	(16,925)	(16,683)	(5,090)	(4,678)	(3,776)	702)	(5,756)	8,187)	4,082)
Net change in cash, cash equivalents, and restricted cash	831,122)	(1,428,777)	(516,277)	304,219)	944,684)	(214,427)	(394,685)	221,281)	177,050)	48,231)	498,713)	(460,563)	31,036)	820,276)	228,606)	733,919)	(672,220)	(891,652)	1,043,808)	(377,151)	743,924)	(13,146)	(442,553)	(786,558)

The cash flow profile exhibits a consistent pattern of strong operational cash generation used primarily to fund aggressive shareholder return programs and expanding capital investments. Net income demonstrates a general upward trajectory over the observed period, with significant growth accelerating toward 2026, despite periodic quarterly fluctuations.

Operating Activities and Cash Generation: Net cash provided by operating activities remains consistently positive, frequently exceeding net income. This is driven by steady depreciation and amortization expenses, which grew from approximately 73 million US$ in September 2020 to nearly 120 million US$ by June 2026. Significant volatility is observed in the changes in operating assets and liabilities, which periodically create substantial swings in quarterly operating cash flow, most notably a peak of 2.55 billion US$ in June 2025.
Capital Expenditure and Investment Trends: There is a clear long-term increase in capital expenditures and intangible asset investments. Spending rose from 62.8 million US$ in September 2020 to a peak of 331.6 million US$ in March 2026, suggesting a strategic increase in capacity or technology investments. Investing activities transitioned from a period of heavy available-for-sale securities management in 2020 and 2021 to a focus on internal capital expenditures and occasional business acquisitions, such as the 120 million US$ outlay in December 2022.
Shareholder Returns and Financing Strategy: Financing activities are characterized by a heavy commitment to returning capital to shareholders. Treasury stock purchases are a primary outflow, with several quarters exceeding 1 billion US$, including a peak of 1.47 billion US$ in December 2025. Simultaneously, dividend payments have grown steadily from 167.1 million US$ in September 2020 to approximately 325 million US$ per quarter by 2026. Debt management is handled through episodic principal payments, with notable reductions in June 2021, September 2023, March 2025, and March 2026.
Liquidity and Cash Position: The net change in cash is highly variable, reflecting the timing of large-scale share repurchases and fluctuations in working capital. While operating cash flow is robust, the combination of escalating capital expenditures and aggressive financing outflows results in periodic net decreases in cash, balanced by quarters of significant accumulation.

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Lam Research Corp. (NASDAQ:LRCX)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data