Operating Profit Margin
since 2005
Calculation
Lam Research Corp., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income (loss)1 | ÷ | Revenue1 | |
|---|---|---|---|---|---|---|---|
| Jun 28, 2026 | 35.29% | = | 100 | × | 8,199,795) | ÷ | 23,232,690) |
| Jun 29, 2025 | 32.01% | = | 100 | × | 5,900,968) | ÷ | 18,435,591) |
| Jun 30, 2024 | 28.61% | = | 100 | × | 4,263,913) | ÷ | 14,905,386) |
| Jun 25, 2023 | 29.69% | = | 100 | × | 5,174,860) | ÷ | 17,428,516) |
| Jun 26, 2022 | 31.24% | = | 100 | × | 5,381,822) | ÷ | 17,227,039) |
| Jun 27, 2021 | 30.64% | = | 100 | × | 4,482,023) | ÷ | 14,626,150) |
| Jun 28, 2020 | 26.62% | = | 100 | × | 2,673,802) | ÷ | 10,044,736) |
| Jun 30, 2019 | 25.53% | = | 100 | × | 2,464,732) | ÷ | 9,653,559) |
| Jun 24, 2018 | 29.01% | = | 100 | × | 3,213,299) | ÷ | 11,076,998) |
| Jun 25, 2017 | 23.74% | = | 100 | × | 1,902,132) | ÷ | 8,013,620) |
| Jun 26, 2016 | 18.25% | = | 100 | × | 1,074,256) | ÷ | 5,885,893) |
| Jun 28, 2015 | 14.98% | = | 100 | × | 788,039) | ÷ | 5,259,312) |
| Jun 29, 2014 | 14.71% | = | 100 | × | 677,669) | ÷ | 4,607,309) |
| Jun 30, 2013 | 3.28% | = | 100 | × | 118,071) | ÷ | 3,598,916) |
| Jun 24, 2012 | 8.92% | = | 100 | × | 237,733) | ÷ | 2,665,192) |
| Jun 26, 2011 | 24.84% | = | 100 | × | 804,285) | ÷ | 3,237,693) |
| Jun 27, 2010 | 19.94% | = | 100 | × | 425,410) | ÷ | 2,133,776) |
| Jun 28, 2009 | -25.20% | = | 100 | × | (281,243) | ÷ | 1,115,946) |
| Jun 29, 2008 | 20.58% | = | 100 | × | 509,431) | ÷ | 2,474,911) |
| Jun 24, 2007 | 30.34% | = | 100 | × | 778,660) | ÷ | 2,566,576) |
| Jun 25, 2006 | 24.74% | = | 100 | × | 406,265) | ÷ | 1,642,171) |
| Jun 26, 2005 | 26.02% | = | 100 | × | 391,002) | ÷ | 1,502,453) |
Based on: 10-K (reporting date: 2026-06-28), 10-K (reporting date: 2025-06-29), 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), 10-K (reporting date: 2018-06-24), 10-K (reporting date: 2017-06-25), 10-K (reporting date: 2016-06-26), 10-K (reporting date: 2015-06-28), 10-K (reporting date: 2014-06-29), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-24), 10-K (reporting date: 2011-06-26), 10-K (reporting date: 2010-06-27), 10-K (reporting date: 2009-06-28), 10-K (reporting date: 2008-06-29), 10-K (reporting date: 2007-06-24), 10-K (reporting date: 2006-06-25), 10-K (reporting date: 2005-06-26).
1 US$ in thousands
The operating profit margin exhibits significant long-term volatility, characterized by a severe contraction in the late 2000s followed by a sustained period of recovery and expansion. While the margin began the period at 26.02%, it underwent a dramatic cycle of decline and growth, eventually reaching projected historical highs.
- Period of Extreme Volatility and Contraction (2008–2013)
- A sharp decline in operational efficiency is observed starting in 2008, culminating in a significant negative operating margin of -25.20% in 2009. This period represents the most volatile phase in the dataset, where operating income turned into a substantial loss. Although a recovery began in 2010, margins remained suppressed for several years, reaching a trough of 3.28% in 2013, indicating a prolonged struggle to restore previous profitability levels relative to revenue.
- Operational Recovery and Expansion (2014–2018)
- Beginning in 2014, a consistent upward trend in the operating profit margin is evident. The margin climbed from 14.71% in 2014 to 29.01% in 2018. This steady increase suggests a period of successful cost management, improved pricing power, or a shift toward higher-margin product mixes as revenue scaled from approximately 4.6 billion to 11.1 billion during this five-year window.
- Stabilization and High-Margin Maturity (2019–2024)
- From 2019 through 2024, the operating profit margin stabilized within a high range, generally fluctuating between 25% and 31%. A peak of 31.24% was achieved in 2022. This phase indicates a mature operational structure capable of maintaining high profitability even as revenues increased substantially, reaching a peak of 17.4 billion in 2023 before a slight revenue contraction in 2024.
- Projected Growth Trajectory (2025–2026)
- The most recent projections indicate a further acceleration in profitability. The operating profit margin is expected to rise from 28.61% in 2024 to 32.01% in 2025, and finally to a period-high of 35.29% by 2026. This trajectory suggests anticipated gains in operational leverage and increased efficiency as revenue is projected to grow to 23.2 billion.
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Comparison to Competitors
Lam Research Corp., operating profit margin, long-term trends, comparison to competitors
| Lam Research Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | Marvell Technology Inc. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 28, 2026 | 35.29% | — | — | — | — | — | 16.14% | — | 60.38% | — | — |
| Jun 29, 2025 | 32.01% | 10.66% | 26.61% | 29.22% | 39.89% | -4.19% | -12.49% | 26.14% | 62.42% | 27.90% | 34.06% |
| Jun 30, 2024 | 28.61% | 7.37% | 21.56% | 28.95% | 26.10% | -21.99% | -10.31% | 5.19% | 54.12% | 25.85% | 34.94% |
| Jun 25, 2023 | 29.69% | 1.77% | 31.07% | 28.86% | 45.25% | 0.17% | 4.02% | -36.97% | 15.66% | 21.74% | 41.85% |
| Jun 26, 2022 | 31.24% | 5.36% | 27.29% | 30.20% | 42.84% | 3.70% | -7.79% | 31.54% | 37.31% | 35.88% | 50.63% |
| Jun 27, 2021 | 30.64% | 22.20% | 23.12% | 29.87% | 31.03% | 24.62% | -8.70% | 22.68% | 27.18% | 29.16% | 48.84% |
| Jun 28, 2020 | 26.62% | 14.02% | 26.74% | 25.37% | 16.80% | 30.41% | -9.02% | 14.01% | 26.07% | 26.58% | 40.76% |
| Jun 30, 2019 | 25.53% | 9.37% | 28.55% | 22.93% | 15.24% | 30.62% | 1.51% | 31.51% | 32.47% | 31.59% | 39.79% |
| Jun 24, 2018 | 29.01% | 6.97% | 30.35% | 27.80% | 24.63% | 32.91% | 17.84% | 49.34% | 33.05% | 3.26% | 42.53% |
| Jun 25, 2017 | 23.74% | 3.83% | 20.66% | 26.61% | 13.51% | 28.58% | 4.31% | 28.88% | 27.99% | 11.73% | 40.66% |
| Jun 26, 2016 | 18.25% | -8.71% | 30.05% | 19.88% | -3.09% | 21.68% | -29.96% | 1.35% | 14.91% | 27.57% | 35.89% |
| Jun 28, 2015 | 14.98% | -12.05% | 24.19% | 17.53% | 23.92% | 25.29% | 11.03% | 18.52% | 16.21% | 22.85% | 32.88% |
| Jun 29, 2014 | 14.71% | -2.82% | 26.27% | 16.75% | 10.26% | 27.47% | 8.24% | 18.87% | 12.01% | 28.50% | 30.26% |
| Jun 30, 2013 | 3.28% | 1.94% | 28.59% | 5.75% | 21.90% | 23.32% | 9.30% | 2.60% | 15.15% | 29.08% | 23.20% |
| Jun 24, 2012 | 8.92% | -19.48% | 30.51% | 4.71% | 24.62% | 27.44% | 17.81% | -7.51% | 16.22% | 29.72% | 15.38% |
| Jun 26, 2011 | 24.84% | 5.60% | 35.81% | 22.80% | 25.00% | 32.37% | 24.95% | 8.59% | 7.22% | 33.60% | 21.78% |
| Jun 27, 2010 | 19.94% | 13.06% | 32.59% | 14.49% | 22.26% | 35.73% | 11.90% | 18.73% | -2.97% | 29.87% | 32.32% |
| Jun 28, 2009 | -25.20% | 12.29% | 14.14% | -7.85% | 3.23% | 16.26% | 5.60% | -34.87% | -2.06% | 21.37% | 19.09% |
| Jun 29, 2008 | 20.58% | -33.66% | 24.20% | 16.67% | — | 23.82% | -3.65% | -27.31% | 20.41% | 33.48% | 19.49% |
| Jun 24, 2007 | 30.34% | -47.65% | 22.24% | 24.36% | — | 21.43% | 0.05% | -4.92% | 14.78% | 32.50% | 25.28% |
| Jun 25, 2006 | 24.74% | -0.83% | 21.44% | 22.04% | — | 15.97% | 21.54% | 6.64% | 14.32% | 35.74% | 23.62% |
| Jun 26, 2005 | 26.02% | 3.96% | 21.60% | 20.71% | — | 31.14% | 13.22% | 4.46% | 5.65% | 42.06% | 20.84% |
Based on: 10-K (reporting date: 2026-06-28), 10-K (reporting date: 2025-06-29), 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), 10-K (reporting date: 2018-06-24), 10-K (reporting date: 2017-06-25), 10-K (reporting date: 2016-06-26), 10-K (reporting date: 2015-06-28), 10-K (reporting date: 2014-06-29), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-24), 10-K (reporting date: 2011-06-26), 10-K (reporting date: 2010-06-27), 10-K (reporting date: 2009-06-28), 10-K (reporting date: 2008-06-29), 10-K (reporting date: 2007-06-24), 10-K (reporting date: 2006-06-25), 10-K (reporting date: 2005-06-26).