Selected Financial Data
since 2005
Income Statement
Lam Research Corp., selected items from income statement, long-term trends
US$ in thousands
| 12 months ended: | Revenue | Operating income (loss) | Net income (loss) |
|---|---|---|---|
| Jun 29, 2025 | 18,435,591) | 5,900,968) | 5,358,217) |
| Jun 30, 2024 | 14,905,386) | 4,263,913) | 3,827,772) |
| Jun 25, 2023 | 17,428,516) | 5,174,860) | 4,510,931) |
| Jun 26, 2022 | 17,227,039) | 5,381,822) | 4,605,286) |
| Jun 27, 2021 | 14,626,150) | 4,482,023) | 3,908,458) |
| Jun 28, 2020 | 10,044,736) | 2,673,802) | 2,251,753) |
| Jun 30, 2019 | 9,653,559) | 2,464,732) | 2,191,430) |
| Jun 24, 2018 | 11,076,998) | 3,213,299) | 2,380,681) |
| Jun 25, 2017 | 8,013,620) | 1,902,132) | 1,697,763) |
| Jun 26, 2016 | 5,885,893) | 1,074,256) | 914,049) |
| Jun 28, 2015 | 5,259,312) | 788,039) | 655,577) |
| Jun 29, 2014 | 4,607,309) | 677,669) | 632,289) |
| Jun 30, 2013 | 3,598,916) | 118,071) | 113,879) |
| Jun 24, 2012 | 2,665,192) | 237,733) | 168,723) |
| Jun 26, 2011 | 3,237,693) | 804,285) | 723,748) |
| Jun 27, 2010 | 2,133,776) | 425,410) | 346,669) |
| Jun 28, 2009 | 1,115,946) | (281,243) | (302,148) |
| Jun 29, 2008 | 2,474,911) | 509,431) | 439,349) |
| Jun 24, 2007 | 2,566,576) | 778,660) | 685,816) |
| Jun 25, 2006 | 1,642,171) | 406,265) | 335,755) |
| Jun 26, 2005 | 1,502,453) | 391,002) | 299,341) |
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).
- Revenue Trends
- The revenue of the company shows a generally strong upward trajectory over the two-decade period, starting at approximately $1.5 billion in mid-2005. There are fluctuations with a notable decline in mid-2009 to about $1.1 billion, likely reflecting adverse market conditions during that period. Following this dip, revenue recovers and experiences steady growth, reaching highs above $17 billion by mid-2023. A slight drop occurs in mid-2024 to just under $15 billion, before rebounding significantly by mid-2025 to over $18 billion. The long-term trend suggests robust growth despite intermittent short-term volatility.
- Operating Income Analysis
- Operating income generally mirrors revenue trends but displays more pronounced volatility. Initial operating income begins near $391 million in 2005 and increases to a peak of approximately $778 million in 2007. A sharp drop to a loss position of roughly -$281 million in 2009 indicates operational challenges or possibly extraordinary expenses. Recovery ensues, with operating income climbing to over $5.3 billion by mid-2022. After a minor drop in 2024 to about $4.3 billion, it rises again in 2025 to nearly $5.9 billion. The fluctuations suggest sensitivity to economic cycles but an overall improvement in operational efficiency and profitability over time.
- Net Income Patterns
- Net income parallels both revenue and operating income but exhibits even greater variability. Starting at approximately $299 million in 2005, net income peaks around $685 million in 2007 before plunging to a loss of about -$302 million in 2009. Recovery is evident with consistent growth, culminating in net income figures exceeding $4.5 billion in 2023. A decline to approximately $3.8 billion in 2024 is followed by a resurgence to about $5.4 billion in 2025. This pattern reflects the company's capacity to return to profitability after setbacks and sustain enhanced earnings over the long term.
- Summary of Financial Performance
- The financial data illustrates a company experiencing significant growth in scale and profitability over the analyzed period. Periodic downturns, specifically around 2009, imply vulnerability to external economic pressures. However, subsequent recoveries demonstrate resilience and effective management strategies. The strong upward trends in revenue, operating, and net incomes from 2010 onwards indicate expanding market presence and improved operational outcomes. Slight declines in the most recent years suggest potential new challenges, but the rapid recovery in 2025 points to continued financial strength and adaptability.
Balance Sheet: Assets
Lam Research Corp., selected items from assets, long-term trends
US$ in thousands
| Current assets | Total assets | |
|---|---|---|
| Jun 29, 2025 | 14,516,995) | 21,345,260) |
| Jun 30, 2024 | 12,883,220) | 18,744,728) |
| Jun 25, 2023 | 13,228,412) | 18,781,643) |
| Jun 26, 2022 | 12,285,235) | 17,195,632) |
| Jun 27, 2021 | 11,652,387) | 15,892,152) |
| Jun 28, 2020 | 10,853,535) | 14,559,047) |
| Jun 30, 2019 | 8,560,409) | 12,001,333) |
| Jun 24, 2018 | 9,149,911) | 12,479,478) |
| Jun 25, 2017 | 9,142,498) | 12,122,765) |
| Jun 26, 2016 | 9,214,911) | 12,271,528) |
| Jun 28, 2015 | 6,270,849) | 9,364,648) |
| Jun 29, 2014 | 4,783,662) | 7,993,306) |
| Jun 30, 2013 | 3,793,829) | 7,250,315) |
| Jun 24, 2012 | 4,415,109) | 8,004,652) |
| Jun 26, 2011 | 3,276,792) | 4,057,394) |
| Jun 27, 2010 | 1,756,661) | 2,487,392) |
| Jun 28, 2009 | 1,195,827) | 1,951,871) |
| Jun 29, 2008 | 1,917,707) | 2,806,755) |
| Jun 24, 2007 | 1,416,361) | 2,101,605) |
| Jun 25, 2006 | 1,706,369) | 2,313,344) |
| Jun 26, 2005 | 1,244,836) | 1,448,815) |
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).
The analysis of the financial data over the indicated periods reveals several key trends in the company's asset structure.
- Current Assets
- Current assets showed a general upward trajectory from 2005 through 2025, increasing from approximately 1,244,836 thousand USD in 2005 to 14,516,995 thousand USD in 2025. There were occasional fluctuations, including a notable decline around the 2009 period to approximately 1,195,827 thousand USD from a previous higher value, followed by substantial growth reaching over 9 million USD by 2016. From 2016 onwards, current assets continued to grow steadily, peaking near 13.2 million USD in 2023, with slight dips towards 2024 before rising again in 2025.
- Total Assets
- Total assets followed a similar upward pattern, increasing from 1,448,815 thousand USD in 2005 to over 21.3 million USD in 2025. The growth was somewhat volatile in the earlier years, with a significant jump in 2012 to over 8 million USD, followed by periods of slower growth and minor declines. From around 2016, total assets increased consistently, surpassing 15.8 million USD by 2021 and continuing to climb, reaching 21.3 million USD by the latest period. This consistent rise highlights an expansion in the overall asset base.
- Comparative Insights
- Both current assets and total assets reported strong growth trends over the 20-year period. The growth rate of current assets appears robust, indicating increasing liquidity or short-term resource availability. The total assets grew at a slightly faster pace, suggesting that the company also expanded its long-term assets. The gap between total and current assets widened over time, which could imply investment in fixed or intangible assets.
- Overall Observations
- The financial data suggests progressive asset growth with some variability in early years, stabilizing into a more consistent increase in recent years. This trend could be indicative of strategic growth, reinvestment, and possibly improved operational capacity or acquisition of significant fixed assets. No abrupt declines or irregular patterns were observed in the latter years, supporting the view of steady financial health.
Balance Sheet: Liabilities and Stockholders’ Equity
Lam Research Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in thousands
| Current liabilities | Total liabilities | Long-term debt and finance lease obligations | Stockholders’ equity | |
|---|---|---|---|---|
| Jun 29, 2025 | 6,568,425) | 11,483,641) | 4,484,505) | 9,861,619) |
| Jun 30, 2024 | 4,338,438) | 10,205,274) | 4,983,334) | 8,539,454) |
| Jun 25, 2023 | 4,184,918) | 10,571,471) | 5,011,541) | 8,210,172) |
| Jun 26, 2022 | 4,564,759) | 10,917,266) | 5,005,830) | 6,278,366) |
| Jun 27, 2021 | 3,527,867) | 9,864,964) | 5,001,682) | 6,027,188) |
| Jun 28, 2020 | 3,162,442) | 9,375,558) | 5,810,725) | 5,172,494) |
| Jun 30, 2019 | 2,371,650) | 7,278,029) | 4,489,899) | 4,673,865) |
| Jun 24, 2018 | 3,150,308) | 5,899,435) | 2,416,592) | 6,501,851) |
| Jun 25, 2017 | 2,950,115) | 5,135,453) | 2,693,413) | 6,817,451) |
| Jun 26, 2016 | 2,419,802) | 6,169,459) | 4,333,075) | 5,894,517) |
| Jun 28, 2015 | 2,631,361) | 4,019,696) | 2,361,032) | 5,103,144) |
| Jun 29, 2014 | 1,582,001) | 2,780,222) | 1,335,469) | 5,029,735) |
| Jun 30, 2013 | 1,404,475) | 2,574,523) | 1,303,911) | 4,488,872) |
| Jun 24, 2012 | 1,426,928) | 2,682,528) | 1,272,922) | 5,131,781) |
| Jun 26, 2011 | 684,286) | 1,587,549) | 743,270) | 2,469,845) |
| Jun 27, 2010 | 558,657) | 719,257) | 22,612) | 1,768,135) |
| Jun 28, 2009 | 340,763) | 498,782) | 46,234) | 1,453,089) |
| Jun 29, 2008 | 637,679) | 1,022,811) | 306,330) | 1,778,597) |
| Jun 24, 2007 | 672,798) | 925,285) | 250,000) | 1,176,320) |
| Jun 25, 2006 | 566,226) | 917,195) | 350,000) | 1,396,149) |
| Jun 26, 2005 | 379,133) | 381,919) | —) | 1,066,896) |
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).
The financial data reveals distinct trends in the liabilities and equity of the company over the analyzed period.
- Current liabilities
- Current liabilities demonstrate a general upward trajectory from 379,133 thousand US dollars in 2005 to a peak of approximately 4,565,759 thousand in 2022, followed by a slight decline and renewed increase toward 6,568,425 thousand in 2025. This indicates growing short-term financial obligations, with some year-to-year fluctuations observed particularly between 2019 and 2021.
- Total liabilities
- Total liabilities show a similar increasing trend, rising from approximately 381,919 thousand in 2005 to over 11,483,641 thousand by 2025. There is an acceleration in the growth from 2013 onwards, suggesting increased leverage or financing activity. Despite minor decreases in some years such as 2023, the overall trend points to expanding obligations over the long term.
- Long-term debt and finance lease obligations
- Long-term debt figures are missing for 2005 but start at 350,000 thousand in 2006, fluctuating with notable increases until 2016, where it peaks around 4,333,075 thousand. After 2016, it remains relatively stable around the 5 billion mark with a slight decrease after 2024 to about 4,484,505 thousand in 2025. This pattern indicates substantial borrowing primarily occurring between 2010 and 2016, stabilizing afterward.
- Stockholders’ equity
- Stockholders’ equity shows overall growth from 1,066,896 thousand in 2005 to 9,861,619 thousand in 2025, with fluctuations. Significant increases occur between 2007 and 2012, surpassing total liabilities in some years, indicating strengthening financial position and retained earnings. A decline is notable in 2019 but is followed by steady recovery and growth, reflecting solid equity base expansion and possibly reinvestments or profitability improvements.
In summary, the company has displayed a consistent increase in both current and total liabilities, reflecting rising debt levels and financial commitments. Long-term debt increases notably in the middle years but stabilizes in later years. Stockholders’ equity has expanded significantly over the period, suggesting growth in net assets and financial resilience despite the upward trend in liabilities. These patterns reflect a strategic balance between leveraging for growth and maintaining shareholder value.
Cash Flow Statement
Lam Research Corp., selected items from cash flow statement, long-term trends
US$ in thousands
| 12 months ended: | Net cash provided by (used for) operating activities | Net cash (used for) provided by investing activities | Net cash provided by (used for) financing activities |
|---|---|---|---|
| Jun 29, 2025 | 6,173,264) | (708,092) | (4,936,643) |
| Jun 30, 2024 | 4,652,269) | (370,614) | (3,995,850) |
| Jun 25, 2023 | 5,178,938) | (534,562) | (2,830,667) |
| Jun 26, 2022 | 3,099,674) | 612,275) | (4,578,937) |
| Jun 27, 2021 | 3,588,163) | 73,271) | (4,166,982) |
| Jun 28, 2020 | 2,126,451) | (244,084) | (623,930) |
| Jun 30, 2019 | 3,176,013) | (1,637,054) | (2,390,080) |
| Jun 24, 2018 | 2,655,747) | 2,748,440) | (3,272,057) |
| Jun 25, 2017 | 2,029,282) | (2,058,613) | (2,632,394) |
| Jun 26, 2016 | 1,350,277) | 592,483) | 1,595,745) |
| Jun 28, 2015 | 785,503) | (1,106,096) | 378,472) |
| Jun 29, 2014 | 717,049) | (265,214) | (162,735) |
| Jun 30, 2013 | 719,933) | (238,637) | (887,790) |
| Jun 24, 2012 | 499,028) | 269,726) | (692,747) |
| Jun 26, 2011 | 881,028) | (479,913) | 526,986) |
| Jun 27, 2010 | 350,713) | (103,356) | (72,664) |
| Jun 28, 2009 | (78,129) | 6,005) | (260,830) |
| Jun 29, 2008 | 590,319) | (495,805) | 65,810) |
| Jun 24, 2007 | 823,559) | (82,846) | (1,078,335) |
| Jun 25, 2006 | 360,687) | (244,292) | 310,685) |
| Jun 26, 2005 | 425,930) | (58,728) | (52,319) |
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).
- Operating Activities Cash Flow
-
The net cash provided by operating activities has exhibited considerable variability over the period analyzed. Beginning at approximately $426 million in 2005, it saw a significant increase to over $823 million in 2007, followed by a decline to a negative cash flow of about $78 million in 2009. From 2010 onwards, there has been a general upward trend, with some fluctuations, peaking at around $5.18 billion in 2023 before slightly reducing but still remaining strong above $6 billion in 2025. The overall pattern indicates improving operational cash generation capacity over the long term, despite intermittent volatilities likely influenced by external or internal factors.
- Investing Activities Cash Flow
-
The cash flows from investing activities reveal a predominantly negative trend early on, with notable cash outflows such as nearly $244 million in 2006 and $495 million in 2008. Interestingly, there were instances of positive cash inflows, for example approximately $6005 thousand in 2009, and significant inflows in 2016 ($592 million) and 2018 ($2.74 billion). The years 2017 and 2019 showed large cash outflows of around $2.06 billion and $1.64 billion respectively. In recent years, the investing cash flows have shown mixed outcomes, with both positive and negative cash flows fluctuating around mid hundreds of millions to several hundred million dollars, indicating ongoing active investment and divestment activities reflecting strategic financial management and capital expenditure cycles.
- Financing Activities Cash Flow
-
The net cash flow from financing activities has demonstrated a high degree of volatility throughout the analyzed timeline. The data shows multiple shifts between positive and negative values. Initial years such as 2006 displayed positive cash flow of approximately $311 million, whereas 2007 witnessed a sharp negative cash flow exceeding $1 billion. Between 2013 and 2018, a pronounced trend of substantial negative cash outflows is observed, peaking with nearly $3.27 billion in 2018. Later years continue this pattern of negative financing cash flow, reflecting likely repayment of debt, share repurchases, or dividend payments surpassing new financing inflows. The persistent negative cash flows from financing activities towards the end of the period suggest a strategic deleveraging or return of capital policy.
Per Share Data
Lam Research Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| Jun 29, 2025 | 4.17 | 4.15 | 0.92 |
| Jun 30, 2024 | 2.91 | 2.90 | 0.80 |
| Jun 25, 2023 | 3.33 | 3.32 | 0.69 |
| Jun 26, 2022 | 3.29 | 3.28 | 0.60 |
| Jun 27, 2021 | 2.72 | 2.69 | 0.52 |
| Jun 28, 2020 | 1.56 | 1.51 | 0.46 |
| Jun 30, 2019 | 1.44 | 1.37 | 0.44 |
| Jun 24, 2018 | 1.47 | 1.32 | 0.26 |
| Jun 25, 2017 | 1.05 | 0.92 | 0.17 |
| Jun 26, 2016 | 0.58 | 0.52 | 0.12 |
| Jun 28, 2015 | 0.41 | 0.37 | 0.08 |
| Jun 29, 2014 | 0.38 | 0.36 | 0.02 |
| Jun 30, 2013 | 0.07 | 0.07 | 0.00 |
| Jun 24, 2012 | 0.14 | 0.14 | 0.00 |
| Jun 26, 2011 | 0.59 | 0.58 | 0.00 |
| Jun 27, 2010 | 0.27 | 0.27 | 0.00 |
| Jun 28, 2009 | -0.24 | -0.24 | 0.00 |
| Jun 29, 2008 | 0.35 | 0.35 | 0.00 |
| Jun 24, 2007 | 0.49 | 0.49 | 0.00 |
| Jun 25, 2006 | 0.24 | 0.23 | 0.00 |
| Jun 26, 2005 | 0.22 | 0.21 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
The financial data exhibits notable trends in earnings per share (EPS) and dividend payments over the observed periods. Both basic and diluted EPS show considerable fluctuations in the early years, including a period of negative basic EPS in 2009. However, from around 2010 onwards, there is a general upward trajectory in both basic and diluted EPS, indicating improving profitability. This upward trend accelerates significantly after 2016, with basic EPS rising from 0.58 USD in 2016 to 4.17 USD by 2025, and diluted EPS exhibiting a similar pattern, increasing from 0.52 USD to 4.15 USD in the same timeframe.
- Basic Earnings Per Share (EPS)
- Starting at 0.22 USD in 2005, basic EPS fluctuated, peaked at 0.59 USD in 2011, and dipped to negative values by 2009. From 2012 onward, the EPS mostly increased, culminating in a peak of 4.17 USD in 2025.
- Diluted Earnings Per Share (EPS)
- Mirroring the basic EPS trend, diluted EPS began at 0.21 USD in 2005, experienced volatility including a negative dip in 2009, and showed a strong upward trend past 2016, reaching 4.15 USD in 2025.
- Dividend Per Share
- Dividend payments were absent in the earlier years and initiated only from 2014 at a modest 0.02 USD per share. Thereafter, dividends increased steadily, reaching 0.92 USD per share by 2025, reflecting a consistent commitment to returning value to shareholders alongside growing profitability.
The overall patterns suggest that the company experienced early operational challenges or external factors impacting profitability. The resumption and ongoing increase of dividends from 2014 onward, combined with sustained EPS growth, point towards a stable and improving financial performance in recent years. The increase in dividend per share aligns with the significant growth in earnings, indicating prudent capital allocation and confidence in future cash flows.