Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

$24.99

Price to Sales (P/S)
since 2005

Microsoft Excel

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Calculation

Lam Research Corp., P/S, long-term trends, calculation

Microsoft Excel

Based on: 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$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of Lam Research Corp. Annual Report.


Share Price Trend
The share price exhibits a general upward trend over the analyzed periods, beginning at $2.93 in August 2005 and reaching $102 by August 2025. The increase is not steady; early years show modest growth with occasional dips, such as the decline from $4.12 in 2006 to $3.06 in 2009. From 2014 onward, there is a more pronounced and sustained escalation, especially between 2018 ($17.67) and 2025 ($102), signaling significant appreciation in market valuation during the latter years.
Sales per Share Dynamics
Sales per share demonstrate variability in early periods, ranging from $0.88 in 2009 to $4.93 in 2017. A notable increase occurs after 2014, with sales per share rising from $3.32 to a peak of $13.15 in 2023. Despite a moderate dip to $11.48 in 2024, sales per share recover to $14.57 by 2025. This trajectory suggests improving sales efficiency or revenue growth per share over time, particularly from 2014 onward.
Price-to-Sales Ratio (P/S) Analysis
The price-to-sales ratio shows considerable fluctuation throughout the timeframe. Early observations indicate ratios fluctuating between approximately 1.38 and 3.56. From 2016, the ratio generally increases, peaking at 7 in 2025. It reflects growing investor willingness to pay more per unit of sales, possibly due to heightened expectations of future profitability or improved company perceptions. The period between 2020 and 2025 shows especially high ratios (ranging from 3.68 to 7), implying a shift toward premium valuation multiples.
Combined Insights
Overall, the data convey a narrative of incremental improvement in financial performance alongside increasingly optimistic market valuation of the company. The rising sales per share support the improving fundamentals, while the surging share price and elevated price-to-sales ratios highlight strong investor confidence. Notwithstanding some volatility, particularly in earlier periods, the recent decade reflects a marked enhancement in both operational results and market sentiment.

Comparison to Competitors

Lam Research Corp., P/S, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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).


Comparison to Sector (Semiconductors & Semiconductor Equipment)

Lam Research Corp., P/S, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel

Based on: 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).


Comparison to Industry (Information Technology)