← Who reports today · Information Technology
LRCX · Q4 2026
Archived report (Q4 2026). Latest deep dive →
The quarter in brief
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.
Net Income
$2,277M
up 32.4% y/y
Revenue
$6,722M
up 30.0% y/y
Operating Income
$2,513M
up 44.4% y/y
Gross Profit
$3,479M
up 34.4% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Systems Revenue | $4,250 · +23.6% |
| Customer Support & Other | $2,472 · +42.6% |
| Revenue | $6,722 · +30.0% |
| Cost of Goods Sold | $3,243 · +25.6% |
| Gross Profit | $3,479 · +34.4% · 51.7% margin |
| R&D | $643 · +10.8% |
| SG&A | $322 · +20.1% |
| Operating Income | $2,513 · +44.4% · 37.4% margin |
| Other Income, Net | $42 · +10.0% |
| Pretax Income | $2,555 · +43.6% |
| Income Tax | $278 · +371.8% |
| 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 as an image: LRCX, Q4 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
Cite / embed this chart
Free to use in articles, research and social posts with credit to Who Reports Today and a link — licensed under CC BY 4.0 (terms).
Chart: “LRCX Q4 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/lrcx/q4-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/lrcx/q4-2026"><img src="https://whoreportstoday.com/t/lrcx/q4-2026/sankey.png" alt="LRCX Q4 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/lrcx/q4-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
https://whoreportstoday.com/t/lrcx/q4-2026/sankey.png
<a href="https://whoreportstoday.com/t/lrcx/q4-2026">LRCX Q4 2026 earnings chart (Who Reports Today)</a>
This is an archived report: the image at this link won’t change. If you change the chart (crop, translate), say so in the credit. Company logos and trademarks are not covered by the license.
- Non-GAAP net income ($2,280M) is nearly identical to GAAP ($2,277M) this quarter — minimal adjustment gap versus prior periods.
- Customer support-related revenue grew faster (+43% y/y) than systems revenue (+24% y/y), reflecting installed-base strength.
- Other income swung positive ($42M) mainly from a gain on elective deferred compensation-related assets, a volatile non-operating item.
- Effective tax rate jumped to ~10.9% from ~3.3% a year ago, holding back net income growth relative to pretax income growth.
- Deferred revenue rose to $2.43B and Japan-related unbilled shipments to $490M, both signaling near-term revenue visibility.
- Guidance implies a further sequential acceleration to $8.10B next quarter, well above this quarter's already-record level.
What distorts the picture in this report and what to watch beyond the headlines.
LRCX — Lam Research provides semiconductor fabrication equipment and services used in the production of integrated circuits.
The company is headquartered in Fremont, California, and serves chipmakers worldwide.
More reports: MCHP · Q1 FY2027 · MPWR · Q2 2026 · MRVL · Q2 FY2027 · MSFT · Q4 FY2026 · MSI · Q2 2026 · MU · Q4 FY2026 · NOW · Q3 2026 · NTAP · Q1 FY2027 · NVDA · Q2 FY2027 · NXPI · Q3 2026 · all reports