Stock Analysis on Net
Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Long-term Activity Ratios (Summary)

Lam Research Corp., long-term (investment) activity ratios

Microsoft Excel
Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018 Jun 25, 2017 Jun 26, 2016
Net fixed asset turnover 11.22 9.37 9.12 12.27 11.69 9.20
Net fixed asset turnover (including operating lease, right-of-use asset) 9.90 8.06 9.12 12.27 11.69 9.20
Total asset turnover 0.92 0.69 0.80 0.89 0.66 0.48
Equity turnover 2.43 1.94 2.07 1.70 1.18 1.00

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Lam Research Corp. net fixed asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Lam Research Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Lam Research Corp. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Lam Research Corp. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover

Lam Research Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018 Jun 25, 2017 Jun 26, 2016
Selected Financial Data (US$ in thousands)
Revenue 14,626,150  10,044,736  9,653,559  11,076,998  8,013,620  5,885,893 
Property and equipment, net 1,303,479  1,071,499  1,059,077  902,547  685,595  639,608 
Long-term Activity Ratio
Net fixed asset turnover1 11.22 9.37 9.12 12.27 11.69 9.20
Benchmarks
Net Fixed Asset Turnover, Competitors2
Advanced Micro Devices Inc. 23.41 15.23 13.46 18.61 20.42 —
Analog Devices Inc. 3.70 5.00 4.91 5.37 4.61 5.38
Applied Materials Inc. 11.93 10.72 9.55 12.26 13.64 11.55
Broadcom Inc. 11.69 9.52 8.81 7.91 6.79 5.28
Intel Corp. 1.25 1.38 1.30 1.45 1.53 —
Micron Technology Inc. 0.83 0.69 0.83 1.28 1.05 0.84
NVIDIA Corp. 7.76 6.52 8.34 9.74 13.26 —
NXP Semiconductors N.V. 4.20 3.77 3.63 3.86 4.03 —
ON Semiconductor Corp. 2.65 2.09 2.13 2.31 2.43 —
Qualcomm Inc. 7.36 6.34 7.88 7.64 6.93 10.21
Texas Instruments Inc. 3.57 4.42 4.35 4.96 5.62 —
Net Fixed Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 2.32 2.12 2.13 2.48 2.49 —
Net Fixed Asset Turnover, Industry
Information Technology 4.56 4.33 4.38 4.64 4.75 —

Based on: 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).

1 2021 Calculation
Net fixed asset turnover = Revenue ÷ Property and equipment, net
= 14,626,150 ÷ 1,303,479 = 11.22

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Lam Research Corp. net fixed asset turnover ratio improved from 2019 to 2020 and from 2020 to 2021.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Lam Research Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018 Jun 25, 2017 Jun 26, 2016
Selected Financial Data (US$ in thousands)
Revenue 14,626,150  10,044,736  9,653,559  11,076,998  8,013,620  5,885,893 
 
Property and equipment, net 1,303,479  1,071,499  1,059,077  902,547  685,595  639,608 
Operating lease right-of-use assets (included in Other assets) 173,784  174,583  —  —  —  — 
Property and equipment, net (including operating lease, right-of-use asset) 1,477,263  1,246,082  1,059,077  902,547  685,595  639,608 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 9.90 8.06 9.12 12.27 11.69 9.20
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Advanced Micro Devices Inc. 15.37 11.50 9.55 18.61 20.42 —
Analog Devices Inc. 3.24 4.07 4.91 5.37 4.61 5.38
Applied Materials Inc. 10.35 9.27 9.55 12.26 13.64 11.55
Broadcom Inc. 9.35 7.71 8.81 7.91 6.79 5.28
Intel Corp. 1.24 1.36 1.28 1.45 1.53 —
Micron Technology Inc. 0.82 0.68 0.83 1.28 1.05 0.84
NVIDIA Corp. 5.84 4.76 8.34 9.74 13.26 —
NXP Semiconductors N.V. 3.87 3.44 3.32 3.86 4.03 —
ON Semiconductor Corp. 2.48 1.98 2.04 2.31 2.43 —
Qualcomm Inc. 6.62 5.64 7.88 7.64 6.93 10.21
Texas Instruments Inc. 3.27 4.03 3.95 4.96 5.62 —
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Semiconductors & Semiconductor Equipment 2.23 2.03 2.10 2.48 2.49 —
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.89 3.68 4.08 4.48 4.75 —

Based on: 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).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenue ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 14,626,150 ÷ 1,477,263 = 9.90

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Lam Research Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Total Asset Turnover

Lam Research Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018 Jun 25, 2017 Jun 26, 2016
Selected Financial Data (US$ in thousands)
Revenue 14,626,150  10,044,736  9,653,559  11,076,998  8,013,620  5,885,893 
Total assets 15,892,152  14,559,047  12,001,333  12,479,478  12,122,765  12,271,528 
Long-term Activity Ratio
Total asset turnover1 0.92 0.69 0.80 0.89 0.66 0.48
Benchmarks
Total Asset Turnover, Competitors2
Advanced Micro Devices Inc. 1.32 1.09 1.12 1.42 1.51 —
Analog Devices Inc. 0.14 0.26 0.28 0.30 0.24 0.43
Applied Materials Inc. 0.89 0.77 0.77 0.97 0.75 0.74
Broadcom Inc. 0.36 0.31 0.33 0.42 0.32 0.26
Intel Corp. 0.47 0.51 0.53 0.55 0.51 —
Micron Technology Inc. 0.47 0.40 0.48 0.70 0.58 0.45
NVIDIA Corp. 0.58 0.63 0.88 0.86 0.70 —
NXP Semiconductors N.V. 0.53 0.43 0.44 0.44 0.38 —
ON Semiconductor Corp. 0.70 0.61 0.65 0.77 0.77 —
Qualcomm Inc. 0.81 0.66 0.74 0.70 0.34 0.45
Texas Instruments Inc. 0.74 0.75 0.80 0.92 0.85 —
Total Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 0.53 0.51 0.54 0.62 0.49 —
Total Asset Turnover, Industry
Information Technology 0.59 0.54 0.56 0.57 0.49 —

Based on: 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).

1 2021 Calculation
Total asset turnover = Revenue ÷ Total assets
= 14,626,150 ÷ 15,892,152 = 0.92

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Lam Research Corp. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Equity Turnover

Lam Research Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Jun 27, 2021 Jun 28, 2020 Jun 30, 2019 Jun 24, 2018 Jun 25, 2017 Jun 26, 2016
Selected Financial Data (US$ in thousands)
Revenue 14,626,150  10,044,736  9,653,559  11,076,998  8,013,620  5,885,893 
Stockholders’ equity 6,027,188  5,172,494  4,673,865  6,501,851  6,817,451  5,894,517 
Long-term Activity Ratio
Equity turnover1 2.43 1.94 2.07 1.70 1.18 1.00
Benchmarks
Equity Turnover, Competitors2
Advanced Micro Devices Inc. 2.19 1.67 2.38 5.11 8.72 —
Analog Devices Inc. 0.19 0.47 0.51 0.56 0.50 0.66
Applied Materials Inc. 1.88 1.63 1.78 2.52 1.55 1.50
Broadcom Inc. 1.10 1.00 0.91 0.78 0.87 0.70
Intel Corp. 0.83 0.96 0.93 0.95 0.91 —
Micron Technology Inc. 0.63 0.55 0.65 0.94 1.09 1.03
NVIDIA Corp. 0.99 0.89 1.25 1.30 1.20 —
NXP Semiconductors N.V. 1.69 0.96 0.94 0.90 0.68 —
ON Semiconductor Corp. 1.47 1.49 1.67 1.85 1.99 —
Qualcomm Inc. 3.37 3.87 4.94 24.50 0.73 0.74
Texas Instruments Inc. 1.38 1.57 1.61 1.75 1.45 —
Equity Turnover, Sector
Semiconductors & Semiconductor Equipment 1.01 1.05 1.09 1.19 0.97 —
Equity Turnover, Industry
Information Technology 1.61 1.57 1.58 1.56 1.25 —

Based on: 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).

1 2021 Calculation
Equity turnover = Revenue ÷ Stockholders’ equity
= 14,626,150 ÷ 6,027,188 = 2.43

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Lam Research Corp. equity turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.