Stock Analysis on Net
Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Historical Valuation Ratios (Summary)

Lam Research Corp., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
Price to earnings (P/E) 24.88 18.98 24.22 18.13 22.89 18.89 13.64 11.64 8.99 9.78 11.70 16.16 18.51 16.47 15.33 16.07 18.91 17.96 15.82 16.28 13.36 15.05 17.38
Price to operating profit (P/OP) 21.56 15.99 20.40 14.99 19.68 16.64 12.12 11.10 8.51 7.30 8.66 10.64 12.08 14.63 13.68 14.34 15.04 15.14 13.46 13.39 11.29 12.66 14.45
Price to sales (P/S) 6.18 4.48 5.43 3.95 4.96 4.23 3.10 2.99 2.40 2.08 2.51 2.96 3.26 3.76 3.25 3.19 2.96 2.70 2.46 2.20 1.92 2.12 2.17
Price to book value (P/BV) 13.40 9.14 10.55 8.38 10.81 8.13 6.39 5.88 4.51 4.27 4.28 4.48 5.07 4.59 3.82 3.41 2.95 2.58 2.45 2.25 2.04 2.26 2.23 2.35 2.47 2.57

Based on: 10-Q (filing date: 2021-02-02), 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Lam Research Corp.’s P/E ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Lam Research Corp.’s P/OP ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Lam Research Corp.’s P/S ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Lam Research Corp.’s P/BV ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.

Price to Earnings (P/E)

Lam Research Corp., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
No. shares of common stock outstanding1 142,908,315 144,009,220 145,625,225 145,162,229 145,548,470 145,078,888 144,532,998 149,926,529 152,593,454 155,182,806 157,579,984 164,045,205 162,952,484 161,946,248 162,454,686 161,311,880 162,843,881 162,829,959 160,260,009 159,597,645 158,893,928 158,392,493 158,186,976 158,325,352 159,316,108 158,960,476
Selected Financial Data (US$)
Net income (loss) (in thousands) 869,229  823,451  696,673  574,781  514,510  465,789  541,825  547,390  568,855  533,360  1,021,146  778,800  (9,955) 590,690  526,424  574,713  332,791  263,835  258,939  143,451  222,980  288,679  131,271  206,285  176,940  141,081 
Earnings per share (EPS)2 20.74 18.12 15.46 14.45 14.22 14.64 15.16 17.81 19.02 14.97 15.11 11.50 10.32 12.50 10.45 8.87 6.13 5.46 5.70 4.93 5.34 5.07 4.14 0.00 0.00 0.00
Share price1, 3 516.07 343.83 374.57 261.85 325.40 276.49 206.76 207.43 170.93 146.39 176.69 185.82 191.08 205.89 160.21 142.51 116.00 98.08 90.21 80.22 71.41 76.34 72.01 75.58 77.63 79.14
Valuation Ratio
P/E ratio4 24.88 18.98 24.22 18.13 22.89 18.89 13.64 11.64 8.99 9.78 11.70 16.16 18.51 16.47 15.33 16.07 18.91 17.96 15.82 16.28 13.36 15.05 17.38
Benchmarks
P/E Ratio, Competitors5
Advanced Micro Devices Inc. 41.66 104.54 146.69 129.05 169.62 176.53 173.06 106.61 68.76 50.55 55.68 53.78 282.39
Analog Devices Inc. 41.93 41.43 39.23 37.97 37.64 31.04 26.42 23.89 24.87 22.17 25.81 33.09 42.83 44.94 45.55 37.59 27.60 26.07 29.83 26.48 23.95 27.06
Apple Inc. 36.00 32.24 31.11 21.90 24.67 20.00 17.29 16.94 13.11 16.07 17.34 16.28 16.12 18.32 17.40 16.77 14.94 13.49 11.61 10.57 9.64 12.46
Applied Materials Inc. 27.11 22.31 18.29 17.29 21.57 20.25 15.06 10.73 9.34 9.75 12.30 16.14 20.56 16.16 15.23 18.31 18.26 20.68 22.15 20.33 16.24 15.88
Broadcom Inc. 50.39 66.37 65.22 51.78 36.94 47.09 38.49 30.48 17.68 8.14 8.34 10.57 14.31 63.27 190.51 40.57 28.48
Cisco Systems Inc. 19.39 16.91 15.46 17.64 17.87 17.54 17.69 18.30 16.99 158.12 1,964.84 18.72 16.37 15.88 17.38 14.11 14.69 13.98 12.87 14.50 14.82
Intel Corp. 11.02 9.00 9.09 11.04 13.91 12.70 11.57 11.41 10.41 13.75 16.54 22.16 22.15 13.97 12.93 15.69 16.72
Micron Technology Inc. 32.41 28.88 21.80 25.33 21.69 17.42 7.98 4.06 3.73 2.39 3.40 5.44 6.29 6.97 9.20 13.04 46.07 33.37 10.38 6.58 6.25
NVIDIA Corp. 88.40 65.04 67.57 53.25 33.04 29.64 22.80 26.30 36.38 38.93 48.05 50.69 43.50 41.49 36.34 41.41 36.46 35.06 28.97
Qualcomm Inc. 27.40 28.06 38.25 21.95 24.49 22.03 26.26 42.74 28.15 31.96 21.51 17.37 17.19 17.37 15.92 15.59 14.81 17.18
Texas Instruments Inc. 27.95 26.95 24.04 20.66 24.47 21.27 21.89 20.36 18.05 19.49 24.79 25.03 27.77 21.75 19.56 20.48 21.45

Based on: 10-Q (filing date: 2021-02-02), 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
EPS = (Net income (loss)Q2 2021 + Net income (loss)Q1 2021 + Net income (loss)Q4 2020 + Net income (loss)Q3 2020) ÷ No. shares of common stock outstanding
= (869,229,000 + 823,451,000 + 696,673,000 + 574,781,000) ÷ 142,908,315 = 20.74

3 Closing price as at the filing date of Lam Research Corp.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/E ratio = Share price ÷ EPS
= 516.07 ÷ 20.74 = 24.88

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Lam Research Corp.’s P/E ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.

Price to Operating Profit (P/OP)

Lam Research Corp., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
No. shares of common stock outstanding1 142,908,315 144,009,220 145,625,225 145,162,229 145,548,470 145,078,888 144,532,998 149,926,529 152,593,454 155,182,806 157,579,984 164,045,205 162,952,484 161,946,248 162,454,686 161,311,880 162,843,881 162,829,959 160,260,009 159,597,645 158,893,928 158,392,493 158,186,976 158,325,352 159,316,108 158,960,476
Selected Financial Data (US$)
Operating income (in thousands) 1,009,724  961,064  755,722  694,114  686,511  537,455  617,085  565,517  690,379  591,751  955,195  827,511  737,371  693,222  607,939  538,418  439,828  315,947  309,241  190,753  238,834  335,428  191,035  239,965  188,741  168,298 
Operating profit per share2 23.94 21.51 18.36 17.46 16.53 16.61 17.05 18.69 20.08 20.05 20.39 17.47 15.81 14.08 11.71 9.94 7.71 6.48 6.70 5.99 6.33 6.03 4.98 0.00 0.00 0.00
Share price1, 3 516.07 343.83 374.57 261.85 325.40 276.49 206.76 207.43 170.93 146.39 176.69 185.82 191.08 205.89 160.21 142.51 116.00 98.08 90.21 80.22 71.41 76.34 72.01 75.58 77.63 79.14
Valuation Ratio
P/OP ratio4 21.56 15.99 20.40 14.99 19.68 16.64 12.12 11.10 8.51 7.30 8.66 10.64 12.08 14.63 13.68 14.34 15.04 15.14 13.46 13.39 11.29 12.66 14.45
Benchmarks
P/OP Ratio, Competitors5
Advanced Micro Devices Inc. 75.77 80.11 101.06 81.62 91.66 118.63 120.20 78.58 51.38 36.04 38.08 30.01 59.52 87.97
Analog Devices Inc. 34.90 33.76 31.72 30.10 29.85 24.74 21.27 19.35 20.36 17.62 20.03 23.29 27.92 30.97 31.93 30.33 22.95 21.85 25.32 22.10 19.99 22.69
Apple Inc. 31.00 27.92 27.07 19.10 21.45 17.29 14.94 14.79 11.46 13.49 14.33 13.14 12.67 14.44 13.53 12.93 11.41 10.27 8.82 8.01 7.28 9.34
Applied Materials Inc. 22.70 18.50 14.76 13.85 17.50 16.36 12.41 9.45 8.18 6.74 8.62 11.02 13.84 14.35 13.15 15.51 14.99 16.54 17.82 16.17 13.44 12.92
Broadcom Inc. 35.86 44.03 41.08 35.53 25.99 36.85 28.49 23.44 24.21 19.42 22.97 32.67 39.00 44.93 50.07 94.49 226.20 33.05 23.80
Cisco Systems Inc. 15.77 14.03 12.73 13.53 13.95 13.79 14.46 17.44 16.19 14.97 17.56 17.11 17.64 15.29 13.14 12.97 14.18 12.04 12.46 11.70 10.92 12.07 12.36
Intel Corp. 9.72 8.03 8.28 10.08 13.29 11.44 10.22 10.20 9.40 9.27 10.86 13.07 11.86 11.34 10.01 12.68 13.40
Micron Technology Inc. 29.00 25.85 19.51 22.93 19.03 14.79 6.83 3.68 3.47 2.25 3.20 5.05 5.65 6.15 7.98 9.98 23.62 83.51 106.63 19.43 8.65 6.45 6.04
NVIDIA Corp. 84.53 62.32 66.38 59.72 39.72 34.03 24.82 26.94 35.41 37.29 45.61 45.62 38.06 36.35 31.30 34.79 31.84 29.56 23.81
Qualcomm Inc. 23.79 23.32 29.96 11.05 13.01 12.60 14.09 54.63 42.67 103.26 50.49 46.77 54.17 30.15 20.53 15.86 15.04 15.26 14.10 13.97 13.17 15.68
Texas Instruments Inc. 26.53 25.17 22.86 18.39 21.46 18.41 18.41 16.89 15.00 13.51 16.50 15.90 16.81 16.34 14.79 15.64 16.07

Based on: 10-Q (filing date: 2021-02-02), 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
Operating profit per share = (Operating incomeQ2 2021 + Operating incomeQ1 2021 + Operating incomeQ4 2020 + Operating incomeQ3 2020) ÷ No. shares of common stock outstanding
= (1,009,724,000 + 961,064,000 + 755,722,000 + 694,114,000) ÷ 142,908,315 = 23.94

3 Closing price as at the filing date of Lam Research Corp.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 516.07 ÷ 23.94 = 21.56

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Lam Research Corp.’s P/OP ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.

Price to Sales (P/S)

Lam Research Corp., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
No. shares of common stock outstanding1 142,908,315 144,009,220 145,625,225 145,162,229 145,548,470 145,078,888 144,532,998 149,926,529 152,593,454 155,182,806 157,579,984 164,045,205 162,952,484 161,946,248 162,454,686 161,311,880 162,843,881 162,829,959 160,260,009 159,597,645 158,893,928 158,392,493 158,186,976 158,325,352 159,316,108 158,960,476
Selected Financial Data (US$)
Revenue (in thousands) 3,456,237  3,177,080  2,791,864  2,503,625  2,583,501  2,165,746  2,361,147  2,439,048  2,522,673  2,330,691  3,125,928  2,892,115  2,580,815  2,478,140  2,344,907  2,153,995  1,882,299  1,632,419  1,546,261  1,314,055  1,425,534  1,600,043  1,481,370  1,393,333  1,232,241  1,152,368 
Sales per share2 83.47 76.77 68.98 66.23 65.61 65.40 66.79 69.49 71.24 70.43 70.29 62.76 58.65 54.71 49.33 44.73 39.15 36.35 36.73 36.47 37.13 36.03 33.25 0.00 0.00 0.00
Share price1, 3 516.07 343.83 374.57 261.85 325.40 276.49 206.76 207.43 170.93 146.39 176.69 185.82 191.08 205.89 160.21 142.51 116.00 98.08 90.21 80.22 71.41 76.34 72.01 75.58 77.63 79.14
Valuation Ratio
P/S ratio4 6.18 4.48 5.43 3.95 4.96 4.23 3.10 2.99 2.40 2.08 2.51 2.96 3.26 3.76 3.25 3.19 2.96 2.70 2.46 2.20 1.92 2.12 2.17
Benchmarks
P/S Ratio, Competitors5
Advanced Micro Devices Inc. 10.63 10.63 11.68 8.67 8.59 6.13 5.63 4.75 3.58 2.78 2.81 1.77 2.28 2.11 2.71 2.14 3.08
Analog Devices Inc. 10.06 9.03 7.90 7.61 7.93 7.06 6.53 6.01 6.32 5.35 5.92 5.86 5.91 6.40 6.74 7.86 6.94 6.57 5.81 5.06 4.76 5.49
Apple Inc. 7.82 6.74 6.64 4.68 5.30 4.25 3.72 3.75 2.98 3.60 3.81 3.51 3.41 3.86 3.63 3.48 3.10 2.86 2.52 2.36 2.20 2.85
Applied Materials Inc. 5.74 4.69 3.58 3.27 4.06 3.75 2.92 2.37 2.19 1.87 2.44 3.10 3.81 3.82 3.36 3.74 3.30 3.29 3.24 2.70 2.23 2.26
Broadcom Inc. 7.46 7.40 6.27 5.28 4.13 5.62 5.17 4.85 5.39 4.78 4.81 5.90 5.84 6.07 5.94 6.38 5.71 5.48 6.11 7.31 8.10 5.69
Cisco Systems Inc. 4.09 3.68 3.52 3.76 3.83 3.71 3.96 4.71 4.30 3.98 4.38 4.22 4.41 3.79 3.28 3.27 3.52 3.07 3.20 2.90 2.68 2.80 2.71
Intel Corp. 2.96 2.53 2.73 3.31 4.07 3.49 3.25 3.31 3.09 3.01 3.32 3.84 3.39 3.12 2.66 2.91 2.90
Micron Technology Inc. 4.41 3.93 2.73 2.83 2.54 2.96 2.15 1.52 1.62 1.12 1.58 2.36 2.43 2.28 2.30 1.91 2.15 1.89 1.44 0.95 0.81 0.92 1.12
NVIDIA Corp. 22.93 18.33 17.30 12.82 8.90 9.09 8.06 9.94 13.18 13.41 15.07 14.59 11.92 10.81 8.76 8.22 6.19 4.67 3.55
Qualcomm Inc. 6.91 6.20 5.25 3.59 4.24 3.98 3.52 4.95 2.82 3.37 3.82 3.26 4.52 3.54 3.71 3.34 3.53 4.21 3.60 3.38 2.97 3.58
Texas Instruments Inc. 10.81 9.77 8.87 7.28 8.54 7.48 7.66 7.09 6.38 5.77 6.96 6.61 6.83 6.52 5.68 5.77 5.77

Based on: 10-Q (filing date: 2021-02-02), 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
Sales per share = (RevenueQ2 2021 + RevenueQ1 2021 + RevenueQ4 2020 + RevenueQ3 2020) ÷ No. shares of common stock outstanding
= (3,456,237,000 + 3,177,080,000 + 2,791,864,000 + 2,503,625,000) ÷ 142,908,315 = 83.47

3 Closing price as at the filing date of Lam Research Corp.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 516.07 ÷ 83.47 = 6.18

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Lam Research Corp.’s P/S ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.

Price to Book Value (P/BV)

Lam Research Corp., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
No. shares of common stock outstanding1 142,908,315 144,009,220 145,625,225 145,162,229 145,548,470 145,078,888 144,532,998 149,926,529 152,593,454 155,182,806 157,579,984 164,045,205 162,952,484 161,946,248 162,454,686 161,311,880 162,843,881 162,829,959 160,260,009 159,597,645 158,893,928 158,392,493 158,186,976 158,325,352 159,316,108 158,960,476
Selected Financial Data (US$)
Stockholders’ equity (in thousands) 5,503,033  5,419,185  5,172,494  4,537,607  4,379,429  4,936,393  4,673,865  5,291,196  5,784,363  5,322,825  6,501,851  6,803,055  6,143,131  7,271,178  6,817,451  6,746,254  6,395,696  6,184,883  5,894,517  5,692,339  5,552,291  5,358,155  5,103,144  5,097,055  5,000,435  4,890,673 
Book value per share (BVPS)2 38.51 37.63 35.52 31.26 30.09 34.03 32.34 35.29 37.91 34.30 41.26 41.47 37.70 44.90 41.97 41.82 39.28 37.98 36.78 35.67 34.94 33.83 32.26 32.19 31.39 30.77
Share price1, 3 516.07 343.83 374.57 261.85 325.40 276.49 206.76 207.43 170.93 146.39 176.69 185.82 191.08 205.89 160.21 142.51 116.00 98.08 90.21 80.22 71.41 76.34 72.01 75.58 77.63 79.14
Valuation Ratio
P/BV ratio4 13.40 9.14 10.55 8.38 10.81 8.13 6.39 5.88 4.51 4.27 4.28 4.48 5.07 4.59 3.82 3.41 2.95 2.58 2.45 2.25 2.04 2.26 2.23 2.35 2.47 2.57
Benchmarks
P/BV Ratio, Competitors5
Advanced Micro Devices Inc. 17.77 23.76 27.03 20.69 20.46 16.96 17.39 16.22 18.30 16.18 20.84 14.82 19.87 20.13 30.06 23.20 31.66 17.55
Analog Devices Inc. 4.88 4.22 3.70 3.64 3.90 3.61 3.40 3.19 3.40 3.02 3.35 3.33 3.22 3.22 3.10 3.16 4.75 4.35 3.96 3.52 3.27 3.72 3.59 4.01 3.81
Apple Inc. 34.75 28.33 25.14 15.98 15.85 12.21 9.98 9.15 6.61 8.93 8.47 6.84 5.81 6.61 6.13 5.72 5.10 4.81 4.38 4.11 4.04 5.57 5.68 5.83 5.45
Applied Materials Inc. 9.11 7.63 6.09 5.59 7.04 6.67 5.35 4.56 4.49 4.73 6.16 7.27 6.93 5.94 5.35 5.89 5.08 4.93 4.70 3.94 2.98 2.87 2.41 2.97 3.79
Broadcom Inc. 7.68 7.40 6.18 5.04 3.84 5.09 5.36 4.77 4.95 3.74 3.55 3.61 4.25 5.28 5.08 5.34 4.68 3.84 3.44 3.30 11.01 8.24 8.28 9.14 8.82
Cisco Systems Inc. 5.02 4.64 4.57 5.33 5.56 5.60 6.12 6.57 5.36 4.56 5.00 4.40 4.08 2.76 2.38 2.43 2.68 2.37 2.48 2.30 2.18 2.32 2.23 2.56 2.61 2.42
Intel Corp. 2.84 2.65 2.62 3.29 3.78 3.31 3.05 3.19 2.94 2.92 3.14 3.50 3.08 2.73 2.39 2.64 2.60 2.62 2.69 2.36
Micron Technology Inc. 2.55 2.17 1.50 1.51 1.35 1.68 1.40 1.16 1.41 1.04 1.49 2.31 2.45 2.35 2.51 2.06 2.22 2.00 1.48 1.00 0.91 1.12 1.47 1.53 2.44 3.09
NVIDIA Corp. 21.53 16.48 15.48 11.45 8.77 10.05 10.10 13.03 17.80 19.09 19.60 20.61 16.65 13.30 10.51 9.48 7.51 5.75 3.98 3.74 2.96 2.48
Qualcomm Inc. 24.98 24.00 31.75 29.17 23.03 19.69 16.28 27.16 16.79 82.57 3.78 3.10 4.22 2.56 2.68 2.48 2.69 3.12 2.68 2.58 2.35 2.88 3.04 2.97 3.02
Texas Instruments Inc. 17.02 16.11 15.88 13.29 13.79 12.28 13.75 12.98 11.20 8.68 10.26 9.53 9.89 8.68 7.52 7.47 7.36 6.60 7.01 5.79

Based on: 10-Q (filing date: 2021-02-02), 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).

1 Data adjusted for splits and stock dividends.

2 Q2 2021 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 5,503,033,000 ÷ 142,908,315 = 38.51

3 Closing price as at the filing date of Lam Research Corp.’s Quarterly or Annual Report.

4 Q2 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 516.07 ÷ 38.51 = 13.40

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Lam Research Corp.’s P/BV ratio decreased from Q4 2020 to Q1 2021 but then increased from Q1 2021 to Q2 2021 exceeding Q4 2020 level.