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How Lam Research (LRCX) makes money: Q4 2026 revenue breakdown
US GAAP · $M · vs Q4 2025 · reported 07/29/2026
Lam Research Corporation is an American supplier of wafer-fabrication equipment and related services to the semiconductor industry. · Wikipedia
More about the company
Its products are used primarily in front-end wafer processing, which involves the steps that create the active components of semiconductor devices and their wiring (interconnects). The company also builds equipment for back-end wafer-level packaging (WLP) and for related manufacturing markets such as for microelectromechanical systems (MEMS).
Key growth driver: Customer Support & Other — the fastest-growing revenue line: $2,472, +43% y/y. · by the Q4 2026 report
How does Lam Research make money?
Lam Research brought in $6.72 billion of revenue in Q4 2026, up 30.0% year over year. The largest source was Systems Revenue: $4.25 billion, or 63% of the total, followed by Customer Support & Other ($2.47B, 37%). Net income for the quarter was $2.28 billion, up 32.4% year over year.
Revenue by source, Q4 2026
- Systems Revenue$4.25B · 63% · +23.6%
- Customer Support & Other$2.47B · 37% · +42.6%
Shares of $6.72B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is LRCX’s next earnings date?
Wednesday, October 21, 2026confirmed · after market close
Lam Research (LRCX) is scheduled to report results for the quarter ending Sep 2026 on Oct 21, 2026. Consensus EPS forecast: $2.17 (9 analysts), vs $1.26 in the same quarter last year.
What time does LRCX report? Usually after market close: the last 4 results releases reached the SEC at 4:07 pm, 4:09 pm, 4:06 pm, 4:08 pm ET.
Last report: Jul 29, 2026 (Q4 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$6,722
+30.0%
Gross profit
$3,479
+34.4%
51.7% margin
Operating income
$2,513
+44.4%
37.4% margin
Net income
$2,277
+32.4%
$1.81 diluted EPS
Verdict: an outstanding quarter — revenue up 30% y/y to a record $6.72B on broad AI-driven wafer fabrication demand, with operating margin expanding to 37.4% and net income up 32% y/y, showing strong operating leverage with no material one-offs.
OCF $1,457M; dividend $0.26/share declared; treasury stock buybacks $247M in the quarter; guiding next quarter revenue to $8.10B ±$400M and GAAP EPS ~$2.15 ±$0.15.
Source and notation
* marks non-cash / ≈ estimated. Source: Lam Research press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
LRCX earnings history: past report dates
| Jul 29, 2026 Wed | 4:07 pmafter market close | Jun 28, 2026 | ≈$6.7B+30% y/y | ≈$1.81+35% y/y |
| Apr 22, 2026 Wed | 4:09 pmafter market close | Mar 29, 2026 | $5.8B+24% y/y | $1.45+41% y/y |
| Jan 28, 2026 Wed | 4:06 pmafter market close | Dec 28, 2025 | $5.3B+22% y/y | $1.26+37% y/y |
| Oct 22, 2025 Wed | 4:08 pmafter market close | Sep 28, 2025 | $5.3B+28% y/y | $1.24+44% y/y |
| Jul 30, 2025 Wed | 4:07 pmafter market close | Jun 29, 2025 | ≈$5.2B+34% y/y | ≈$1.34+72% y/y |
| Apr 23, 2025 Wed | 4:07 pmafter market close | Mar 30, 2025 | $4.7B+24% y/y | $1.03+41% y/y |
| Jan 29, 2025 Wed | 4:07 pmafter market close | Dec 29, 2024 | $4.4B+16% y/y | $0.92+28% y/y |
| Oct 23, 2024 Wed | 4:07 pmafter market close | Sep 29, 2024 | $4.2B+20% y/y | $0.86+28% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Lam Research: 5-year financials
| FY2026 | 23,233 | 8,200 | 7,265 | 1,271 |
| FY2025 | 18,436 | 5,901 | 5,358 | 1,150 |
| FY2024 | 14,905 | 4,264 | 3,828 | 1,019 |
| FY2023 | 17,429 | 5,175 | 4,511 | 908 |
| FY2022 | 17,227 | 5,382 | 4,605 | 815 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Aug 2026FY2026 10-K: a single class of common stock; no material shareholder suits or SEC investigations disclosed. sec.gov ↗
- Jun 2026Diluted share count fell 13.2% over 5 years on buybacks of $2–3.9B a year; SBC is 1.7% of revenue. data.sec.gov ↗
- Jun 2026Dividend per share (in current, post-split shares) rose from $0.69 in FY2023 to $1.04 in FY2026. data.sec.gov ↗
Scoring: 2.0, no deductions: single class of stock, share count −13% over 5 years, dividend raised every year; no shareholder suits or SEC cases (the 2007 filing delay caused by the options review is more than 10 years old and would not change the rounded score even if deducted)
- Share classes
- Single class — LRCX common stock on Nasdaq (cover of FY2026 10-K).
- Dilution
- Diluted share count FY2021→FY2026 −13.2% (XBRL, split-adjusted); SBC 1.7% of revenue.
- Disclosure
- Reports filed on time; in 2007–2008 some reports were late because of an internal options review and were subsequently filed (more than 10 years ago).
- Dividends
- Dividend raised every year: $0.69 (FY2023) → $1.04 (FY2026) in current shares; buybacks of $2–3.9B a year.
- Lawsuits & regulators
- 10-Ks for 2010–2026 disclose no shareholder disclosure suits or SEC cases, only a boilerplate risk factor.
- Related parties
- 2026 proxy: apart from compensation, the only related party is BlackRock (>5%) as manager of the company's money market funds; no family relationships.
How the score works · checked as of Sep 2026
Lam Research (LRCX) earnings: FAQ
How does Lam Research make money?
Lam Research brought in $6.72 billion of revenue in Q4 2026, up 30.0% year over year. The largest source was Systems Revenue: $4.25 billion, or 63% of the total, followed by Customer Support & Other ($2.47B, 37%). Net income for the quarter was $2.28 billion, up 32.4% year over year.
When is LRCX's next earnings date?
Lam Research (LRCX) is scheduled to report on Oct 21, 2026, after market close.
What time does LRCX report earnings?
Lam Research is scheduled to report after market close on Oct 21, 2026. Its last results releases were filed after market close, most recently at 4:07 pm ET on Jul 29, 2026.
When did LRCX last report earnings?
Lam Research reported Q4 2026 results on Jul 29, 2026.
What is the EPS estimate for LRCX's next earnings?
The consensus EPS forecast is $2.17 (9 analysts), vs $1.26 in the same quarter last year.
Where can I find Lam Research's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to LRCX's filings; this page breaks the latest report down in a Sankey chart.
What was LRCX's net income in Q4 2026?
Lam Research reported net income of $2,277M for Q4 2026 (+32.4% year over year), under US GAAP.
Does Lam Research pay dividends?
Yes. In fiscal 2026, Lam Research paid $1,271M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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