Price to Sales (P/S)
since 2005
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Lam Research Corp. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Calculation
Lam Research Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenue1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 29, 2024 | = | ÷ | = | ÷ | |||||||
| Aug 15, 2023 | = | ÷ | = | ÷ | |||||||
| Aug 24, 2022 | = | ÷ | = | ÷ | |||||||
| Aug 17, 2021 | = | ÷ | = | ÷ | |||||||
| Aug 18, 2020 | = | ÷ | = | ÷ | |||||||
| Aug 20, 2019 | = | ÷ | = | ÷ | |||||||
| Aug 14, 2018 | = | ÷ | = | ÷ | |||||||
| Aug 15, 2017 | = | ÷ | = | ÷ | |||||||
| Aug 17, 2016 | = | ÷ | = | ÷ | |||||||
| Aug 13, 2015 | = | ÷ | = | ÷ | |||||||
| Aug 26, 2014 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2013 | = | ÷ | = | ÷ | |||||||
| Aug 22, 2012 | = | ÷ | = | ÷ | |||||||
| Aug 19, 2011 | = | ÷ | = | ÷ | |||||||
| Aug 23, 2010 | = | ÷ | = | ÷ | |||||||
| Aug 27, 2009 | = | ÷ | = | ÷ | |||||||
| Aug 28, 2008 | = | ÷ | = | ÷ | |||||||
| Mar 31, 2008 | = | ÷ | = | ÷ | |||||||
| Aug 17, 2006 | = | ÷ | = | ÷ | |||||||
| Aug 18, 2005 | = | ÷ | = | ÷ |
Based on: 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 of the company displays a general upward trend over the period analyzed. Starting from a relatively low base of $2.93 in August 2005, the price experiences some fluctuations but progressively rises, reaching $79.73 by August 2024. Notably, there is steady growth from 2013 onwards, with particularly strong increases between 2018 and 2021, where the price more than doubles from $20.68 to $57.90, though there is a decline observed in 2022 before resuming its upward trajectory.
- Sales per Share
- Sales per share values show significant variability with an overall increasing trend. Initial figures are modest, starting at $1.10 in 2005 and fluctuating across years, for instance, decreasing notably in 2009 to $0.88. From 2013 forward, sales per share show marked growth, peaking at $13.15 in 2023 before declining to $11.48 in 2024. This indicates periods of both expansion and contraction in sales relative to the number of shares outstanding.
- Price-to-Sales (P/S) Ratio
- The P/S ratio exhibits considerable variation throughout the timeline. Early years display ratios mostly below or around 3, with some spikes, such as 3.56 in 2006 and 3.47 in 2009, suggesting fluctuations in market valuation relative to sales. From 2018 onward, the P/S ratio rises significantly, reaching its highest level of 6.95 in 2024, implying that the market's valuation has increased at a faster rate than sales per share during this period. Intermediate years such as 2020 and 2021 also present elevated ratios above 5, which highlight a period of premium valuation.
- Overall Patterns and Insights
- The financial data indicates a strong positive stock market performance over nearly two decades, with share prices rising substantially. Sales per share generally increase, though with some volatility, including noteworthy decreases in certain years that might reflect market or operational challenges. The P/S ratio's increase in recent years points to growing investor confidence and an enhanced valuation multiple, suggesting expectations of future growth or improved profitability not solely explained by current sales. The combination of rising share prices alongside increasing P/S ratios suggests that market sentiment and valuation multiples have been key drivers of share price appreciation, perhaps outpacing fundamental sales growth in some periods.
Comparison to Competitors
Lam Research Corp., P/S, long-term trends, comparison to competitors
| Lam Research Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | KLA Corp. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Aug 29, 2024 | |||||||||||
| Aug 15, 2023 | |||||||||||
| Aug 24, 2022 | |||||||||||
| Aug 17, 2021 | |||||||||||
| Aug 18, 2020 | |||||||||||
| Aug 20, 2019 | |||||||||||
| Aug 14, 2018 | |||||||||||
| Aug 15, 2017 | |||||||||||
| Aug 17, 2016 | |||||||||||
| Aug 13, 2015 | |||||||||||
| Aug 26, 2014 | |||||||||||
| Aug 27, 2013 | |||||||||||
| Aug 22, 2012 | |||||||||||
| Aug 19, 2011 | |||||||||||
| Aug 23, 2010 | |||||||||||
| Aug 27, 2009 | |||||||||||
| Aug 28, 2008 | |||||||||||
| Mar 31, 2008 | |||||||||||
| Aug 17, 2006 | |||||||||||
| Aug 18, 2005 |
Based on: 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)
| Lam Research Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Aug 29, 2024 | ||
| Aug 15, 2023 | ||
| Aug 24, 2022 | ||
| Aug 17, 2021 | ||
| Aug 18, 2020 | ||
| Aug 20, 2019 | ||
| Aug 14, 2018 | ||
| Aug 15, 2017 | ||
| Aug 17, 2016 | ||
| Aug 13, 2015 | ||
| Aug 26, 2014 | ||
| Aug 27, 2013 | ||
| Aug 22, 2012 | ||
| Aug 19, 2011 | ||
| Aug 23, 2010 | ||
| Aug 27, 2009 | ||
| Aug 28, 2008 | ||
| Mar 31, 2008 | ||
| Aug 17, 2006 | ||
| Aug 18, 2005 |
Based on: 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)
Lam Research Corp., P/S, long-term trends, comparison to industry (information technology)
| Lam Research Corp. | Information Technology | |
|---|---|---|
| Aug 29, 2024 | ||
| Aug 15, 2023 | ||
| Aug 24, 2022 | ||
| Aug 17, 2021 | ||
| Aug 18, 2020 | ||
| Aug 20, 2019 | ||
| Aug 14, 2018 | ||
| Aug 15, 2017 | ||
| Aug 17, 2016 | ||
| Aug 13, 2015 | ||
| Aug 26, 2014 | ||
| Aug 27, 2013 | ||
| Aug 22, 2012 | ||
| Aug 19, 2011 | ||
| Aug 23, 2010 | ||
| Aug 27, 2009 | ||
| Aug 28, 2008 | ||
| Mar 31, 2008 | ||
| Aug 17, 2006 | ||
| Aug 18, 2005 |
Based on: 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).