Return on Equity (ROE)
since 2005
Calculation
Lam Research Corp., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss)1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Jun 28, 2026 | 58.26% | = | 100 | × | 7,265,396) | ÷ | 12,470,921) |
| Jun 29, 2025 | 54.33% | = | 100 | × | 5,358,217) | ÷ | 9,861,619) |
| Jun 30, 2024 | 44.82% | = | 100 | × | 3,827,772) | ÷ | 8,539,454) |
| Jun 25, 2023 | 54.94% | = | 100 | × | 4,510,931) | ÷ | 8,210,172) |
| Jun 26, 2022 | 73.35% | = | 100 | × | 4,605,286) | ÷ | 6,278,366) |
| Jun 27, 2021 | 64.85% | = | 100 | × | 3,908,458) | ÷ | 6,027,188) |
| Jun 28, 2020 | 43.53% | = | 100 | × | 2,251,753) | ÷ | 5,172,494) |
| Jun 30, 2019 | 46.89% | = | 100 | × | 2,191,430) | ÷ | 4,673,865) |
| Jun 24, 2018 | 36.62% | = | 100 | × | 2,380,681) | ÷ | 6,501,851) |
| Jun 25, 2017 | 24.90% | = | 100 | × | 1,697,763) | ÷ | 6,817,451) |
| Jun 26, 2016 | 15.51% | = | 100 | × | 914,049) | ÷ | 5,894,517) |
| Jun 28, 2015 | 12.85% | = | 100 | × | 655,577) | ÷ | 5,103,144) |
| Jun 29, 2014 | 12.57% | = | 100 | × | 632,289) | ÷ | 5,029,735) |
| Jun 30, 2013 | 2.54% | = | 100 | × | 113,879) | ÷ | 4,488,872) |
| Jun 24, 2012 | 3.29% | = | 100 | × | 168,723) | ÷ | 5,131,781) |
| Jun 26, 2011 | 29.30% | = | 100 | × | 723,748) | ÷ | 2,469,845) |
| Jun 27, 2010 | 19.61% | = | 100 | × | 346,669) | ÷ | 1,768,135) |
| Jun 28, 2009 | -20.79% | = | 100 | × | (302,148) | ÷ | 1,453,089) |
| Jun 29, 2008 | 24.70% | = | 100 | × | 439,349) | ÷ | 1,778,597) |
| Jun 24, 2007 | 58.30% | = | 100 | × | 685,816) | ÷ | 1,176,320) |
| Jun 25, 2006 | 24.05% | = | 100 | × | 335,755) | ÷ | 1,396,149) |
| Jun 26, 2005 | 28.06% | = | 100 | × | 299,341) | ÷ | 1,066,896) |
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 financial performance of Lam Research Corp. from 2005 to 2026 is characterized by a long-term expansion in both absolute profitability and capital efficiency, despite significant cyclical volatility in the earlier periods. Net income has grown from approximately $299 million in 2005 to a projected $7.27 billion by 2026, while stockholders' equity has expanded from $1.07 billion to $12.47 billion over the same timeframe.
- Return on Equity (ROE) Volatility and Recovery
- The ROE exhibited extreme fluctuations between 2005 and 2013. A peak of 58.30% in 2007 was followed by a sharp decline, culminating in a negative ROE of -20.79% in 2009, coinciding with a net loss of $302 million. A subsequent recovery phase saw ROE drop to multi-year lows of 3.29% in 2012 and 2.54% in 2013, as stockholders' equity grew rapidly while net income remained temporarily suppressed.
- High-Efficiency Growth Phase
- Starting in 2014, a sustained upward trend in capital efficiency is observed. ROE climbed steadily from 12.57% in 2014 to a peak of 73.35% in 2022. This period indicates a significant improvement in the company's ability to generate profit from its equity base, driven by net income growth that substantially outpaced the accumulation of equity.
- Stabilization and Long-term Projections
- From 2023 through 2026, the ROE is projected to stabilize at a high plateau, ranging between 44.82% and 58.26%. While this represents a decrease from the 2022 peak, it remains significantly higher than the historical averages seen prior to 2016, suggesting a new baseline of operational efficiency.
- Correlation Between Equity and Net Income
- The data reveals a shifting relationship between equity accumulation and profitability. In the 2012-2013 period, equity expansion diluted the ROE. Conversely, in the later years, the growth in net income has been the primary driver of value, allowing the company to maintain an ROE above 40% even as the equity base grew to exceed $12 billion.
AI Ask an analyst for more
Comparison to Competitors
Lam Research Corp., ROE, 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. | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 28, 2026 | 58.26% | — | — | — | — | — | 76.08% | — | 76.33% | — | — |
| Jun 29, 2025 | 54.33% | 6.88% | 6.70% | 34.28% | 28.45% | -0.23% | 86.56% | 15.76% | 91.87% | 26.13% | 30.73% |
| Jun 30, 2024 | 44.82% | 2.85% | 4.65% | 37.77% | 8.71% | -18.89% | 82.00% | 1.72% | 69.24% | 38.60% | 28.39% |
| Jun 25, 2023 | 54.94% | 1.53% | 9.32% | 41.94% | 58.70% | 1.60% | 116.01% | -13.22% | 19.76% | 33.51% | 38.53% |
| Jun 26, 2022 | 73.35% | 2.41% | 7.54% | 53.51% | 50.62% | 7.90% | 237.04% | 17.41% | 36.65% | 71.81% | 60.02% |
| Jun 27, 2021 | 64.85% | 42.18% | 3.66% | 48.08% | 26.99% | 20.83% | 61.53% | 13.34% | 25.64% | 90.88% | 58.27% |
| Jun 28, 2020 | 43.53% | 42.66% | 10.17% | 34.21% | 12.40% | 25.79% | 45.65% | 6.89% | 22.91% | 85.54% | 60.90% |
| Jun 30, 2019 | 46.89% | 12.06% | 11.64% | 32.94% | 10.92% | 27.16% | 44.21% | 17.59% | 44.33% | 89.35% | 56.33% |
| Jun 24, 2018 | 36.62% | 26.62% | 13.61% | 48.44% | 45.99% | 28.24% | 49.51% | 43.77% | 40.78% | -524.14% | 62.04% |
| Jun 25, 2017 | 24.90% | 7.04% | 7.16% | 36.73% | 8.34% | 13.91% | 69.82% | 27.33% | 28.91% | 8.02% | 35.62% |
| Jun 26, 2016 | 15.51% | -119.47% | 16.68% | 23.85% | -9.20% | 15.58% | 102.22% | -2.28% | 13.74% | 17.95% | 34.33% |
| Jun 28, 2015 | 12.85% | — | 13.74% | 18.09% | 28.94% | 18.70% | 86.88% | 23.57% | 14.27% | 16.78% | 30.02% |
| Jun 29, 2014 | 12.57% | -215.51% | 13.23% | 13.62% | 8.11% | 20.95% | 15.88% | 28.27% | 9.87% | 20.34% | 27.15% |
| Jun 30, 2013 | 2.54% | -15.26% | 14.21% | 3.61% | 19.13% | 16.51% | 15.60% | 13.02% | 11.65% | 18.99% | 20.01% |
| Jun 24, 2012 | 3.29% | -219.89% | 15.63% | 1.51% | 23.27% | 21.49% | 22.80% | -13.40% | 14.02% | 18.22% | 16.05% |
| Jun 26, 2011 | 29.30% | 30.88% | 22.85% | 21.89% | 27.52% | 28.19% | 27.77% | 1.97% | 7.96% | 15.81% | 20.42% |
| Jun 27, 2010 | 19.61% | 46.50% | 22.25% | 12.44% | 27.57% | 23.19% | 9.45% | 23.07% | -2.55% | 15.57% | 30.93% |
| Jun 28, 2009 | -20.79% | 46.91% | 9.80% | -4.30% | -4.23% | 10.48% | -23.96% | -39.43% | -1.25% | 7.84% | 15.12% |
| Jun 29, 2008 | 24.70% | — | 32.49% | 12.73% | — | 13.54% | 12.04% | -26.21% | 30.47% | 17.61% | 20.59% |
| Jun 24, 2007 | 58.30% | -113.01% | 21.25% | 21.87% | — | 16.31% | 14.88% | -4.13% | 22.36% | 20.86% | 26.64% |
| Jun 25, 2006 | 24.05% | -2.87% | 15.99% | 22.80% | — | 13.72% | 10.66% | 5.03% | 20.76% | 18.42% | 38.21% |
| Jun 26, 2005 | 28.06% | 4.94% | 11.24% | 13.55% | — | 23.95% | 15.33% | 3.22% | 8.52% | 19.27% | 19.47% |
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).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
Lam Research Corp., ROE, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| Lam Research Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Jun 28, 2026 | 58.26% | — |
| Jun 29, 2025 | 54.33% | 27.66% |
| Jun 30, 2024 | 44.82% | 11.77% |
| Jun 25, 2023 | 54.94% | 13.30% |
| Jun 26, 2022 | 73.35% | 22.70% |
| Jun 27, 2021 | 64.85% | 25.79% |
| Jun 28, 2020 | 43.53% | 24.53% |
| Jun 30, 2019 | 46.89% | 26.83% |
| Jun 24, 2018 | 36.62% | 33.43% |
| Jun 25, 2017 | 24.90% | 16.95% |
| Jun 26, 2016 | 15.51% | 13.42% |
| Jun 28, 2015 | 12.85% | 19.06% |
| Jun 29, 2014 | 12.57% | 19.77% |
| Jun 30, 2013 | 2.54% | 15.77% |
| Jun 24, 2012 | 3.29% | 14.95% |
| Jun 26, 2011 | 29.30% | 21.55% |
| Jun 27, 2010 | 19.61% | 20.99% |
| Jun 28, 2009 | -20.79% | 5.27% |
| Jun 29, 2008 | 24.70% | 10.02% |
| Jun 24, 2007 | 58.30% | 13.62% |
| Jun 25, 2006 | 24.05% | 16.52% |
| Jun 26, 2005 | 28.06% | 18.50% |
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).
Comparison to Industry (Information Technology)
Lam Research Corp., ROE, long-term trends, comparison to industry (information technology)
| Lam Research Corp. | Information Technology | |
|---|---|---|
| Jun 28, 2026 | 58.26% | — |
| Jun 29, 2025 | 54.33% | 34.73% |
| Jun 30, 2024 | 44.82% | 29.28% |
| Jun 25, 2023 | 54.94% | 31.78% |
| Jun 26, 2022 | 73.35% | 38.79% |
| Jun 27, 2021 | 64.85% | 42.14% |
| Jun 28, 2020 | 43.53% | 35.58% |
| Jun 30, 2019 | 46.89% | 36.48% |
| Jun 24, 2018 | 36.62% | 30.38% |
| Jun 25, 2017 | 24.90% | 23.35% |
| Jun 26, 2016 | 15.51% | 23.33% |
| Jun 28, 2015 | 12.85% | 26.15% |
| Jun 29, 2014 | 12.57% | 25.61% |
| Jun 30, 2013 | 2.54% | 24.89% |
| Jun 24, 2012 | 3.29% | 26.24% |
| Jun 26, 2011 | 29.30% | 29.22% |
| Jun 27, 2010 | 19.61% | 27.89% |
| Jun 28, 2009 | -20.79% | 20.28% |
| Jun 29, 2008 | 24.70% | 25.67% |
| Jun 24, 2007 | 58.30% | 24.01% |
| Jun 25, 2006 | 24.05% | 22.74% |
| Jun 26, 2005 | 28.06% | 22.11% |
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).