Enterprise Value (EV)
Current Enterprise Value (EV)
Lam Research Corp., current enterprise value calculation
| Current share price (P) | $260.81 |
| No. shares of common stock outstanding | 1,251,321,000 |
| US$ in thousands | |
| Common equity (market value)1 | 326,357,030) |
| Add: Preferred stock, at par value of $0.001 per share; none outstanding (per books) | —) |
| Total equity | 326,357,030) |
| Add: Current portion of long-term debt and finance lease obligations (per books) | 4,073) |
| Add: Long-term debt and finance lease obligations, less current portion (per books) | 3,730,490) |
| Total equity and debt | 330,091,593) |
| Less: Cash and cash equivalents | 5,579,171) |
| Enterprise value (EV) | 324,512,422) |
Based on: 10-K (reporting date: 2026-06-28).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 260.81 × 1,251,321,000
Historical Enterprise Value (EV)
Lam Research Corp., EV calculation
Based on: 10-K (reporting date: 2026-06-28), 10-K (reporting date: 2025-06-29), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Lam Research Corp. Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 311.35 × 1,251,321,000
The financial metrics exhibit a period of initial volatility followed by a trajectory of accelerated growth. A contraction in valuation is observed between June 2021 and June 2022, followed by a consistent recovery and a significant expansion in enterprise value and equity through June 2026.
- Enterprise Value (EV) Trends
- Enterprise value experienced a decline from 82.77 billion US$ in June 2021 to 64.91 billion US$ in June 2022. This was followed by a steady upward trend, reaching 102.69 billion US$ by June 2024 and 127.19 billion US$ by June 2025. A substantial increase is recorded in June 2026, where the EV surged to 387.75 billion US$, representing a nearly threefold increase over the previous year.
- Equity and Market Capitalization
- Common equity market value aligns exactly with total equity across all reported periods. These figures mirror the movements of the enterprise value, dipping to 63.43 billion US$ in June 2022 before ascending to 129.09 billion US$ in June 2025. The most dramatic shift occurs in June 2026, with market value escalating to 389.60 billion US$.
- Debt and Capital Structure Relationship
- Total equity and debt maintain a close correlation with the enterprise value. The marginal difference between total equity and total equity and debt suggests a relatively stable debt profile relative to the overall capitalization. The gap between these figures remains proportional as the total value scales, culminating in a total equity and debt figure of 393.33 billion US$ by June 2026.
- Valuation Acceleration
- The period between June 2024 and June 2026 is characterized by exponential growth. While the increase from 2023 to 2025 was linear and steady, the jump in June 2026 indicates a profound shift in the market's valuation of the entity, as evidenced by the rapid expansion of both market value and enterprise value.
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