Jun 2026 (Q4 FY26) — Jul 29, 2026
Lam Research Q4 FY26 — Record Performance and Strong AI-Driven Outlook
Read the full callLam Research (LRCX) earnings
- Jun 2026
- Jun 2026 (Q4 FY26)
- Jun 2026
Lam Research earnings: last reported Wed, 29 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 6,722 | +30.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 37.4 | +3.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2,277 | +32.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
42 of 45 judged targets kept · 29 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly diluted earnings per share | we're forecasting record earnings per share of $1.65, plus or minus $0.15 based on a share count of approximately 1.255 billion shares | Mar 2026 | For the June quarter, diluted earnings per share were a record $1.82 | Achieved |
| Advanced packaging revenue growth | grow more than 40% in calendar 2026 | Dec 2025 | As an industry leader in TSV etch and electroplating, we are on track to deliver greater than 70% year-on-year growth | Revised Up |
| Akara installed base growth | installed base to keep doubling in 2027 | Jun 2026 | Since its launch, Akara's installed base has doubled every year, and we expect that growth trajectory to continue in 2027 | New |
3 of LAM RESEARCH CORP's 74 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 71 more targets are in the full ledger.
Claimed
- Record revenue of $6.72 billion, up 15% sequentially and 30% year-over-year.
- Record non-GAAP gross margin of 52%, the highest in 20 years.
- Record non-GAAP operating margin of 38.4% and diluted EPS of $1.82.
- Full-year FY26 record revenue of $23.2 billion, non-GAAP gross margin of 50.6%, and diluted EPS of $5.82, up 41% from FY25.
- Calendar 2026 WFE outlook raised to the low $150 billion range, up from a prior outlook of $140 billion.
- Advanced packaging revenue expected to grow greater than 70% year-on-year.
Qualified
- China revenue declined sequentially, with the domestic customer base experiencing a decrease.
- Non-GAAP tax rate is expected to increase to the mid-teens in the September quarter and beyond due to higher revenue in higher tax jurisdictions and an increased U.S. GILTI rate.
- Days Sales Outstanding (DSO) increased to 72 days in Q4 FY26 from 64 days in Q3 FY26.
Price
$272.2 +3.13% · +$8.26
Performance +92.4% 1Y
1Y: $141.51 on 17 Oct 2025 → $272.2. High $433.33 (30 Jun 2026), low $139.59 (20 Nov 2025).
- Previous close
- $263.94
- 52-week range
- $139.59 – $433.33
- One year
- +88.96%
Overview
- Symbol
- LRCX
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
42 of 45 judged targets kept · 29 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Quarterly diluted earnings per share | we're forecasting record earnings per share of $1.65, plus or minus $0.15 based on a share count of approximately 1.255 billion shares | Mar 2026 | For the June quarter, diluted earnings per share were a record $1.82 | Achieved |
| Advanced packaging revenue growth | grow more than 40% in calendar 2026 | Dec 2025 | As an industry leader in TSV etch and electroplating, we are on track to deliver greater than 70% year-on-year growth | Revised Up |
| Akara installed base growth | installed base to keep doubling in 2027 | Jun 2026 | Since its launch, Akara's installed base has doubled every year, and we expect that growth trajectory to continue in 2027 | New |
Claimed
- Record revenue of $6.72 billion, up 15% sequentially and 30% year-over-year.
- Record non-GAAP gross margin of 52%, the highest in 20 years.
- Record non-GAAP operating margin of 38.4% and diluted EPS of $1.82.
- Full-year FY26 record revenue of $23.2 billion, non-GAAP gross margin of 50.6%, and diluted EPS of $5.82, up 41% from FY25.
- Calendar 2026 WFE outlook raised to the low $150 billion range, up from a prior outlook of $140 billion.
- Advanced packaging revenue expected to grow greater than 70% year-on-year.
Qualified
- China revenue declined sequentially, with the domestic customer base experiencing a decrease.
- Non-GAAP tax rate is expected to increase to the mid-teens in the September quarter and beyond due to higher revenue in higher tax jurisdictions and an increased U.S. GILTI rate.
- Days Sales Outstanding (DSO) increased to 72 days in Q4 FY26 from 64 days in Q3 FY26.
The full ledger
Open LAM RESEARCH CORP’s full ledger
A free account opens 5 company ledgers a month. All 74 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q3 FY26) — Apr 22, 2026
Lam Research Q3 FY26 — Record Revenues and Strong AI-Driven Demand Outlook
Read the full callDec 2025 (Q2 FY26) — Jan 28, 2026
Lam Research Q2 FY26 — Record Performance Driven by AI Demand and Technology Transitions
Read the full callEvery analysed call
Lam Research earnings calls (LRCX)
Financials
What the filings say
Net profit, year on year: +32% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,168 | 4,376 | 4,720 | 5,171 | 5,324 | 5,345 | 5,841 | 6,722 |
| Operating profit | 1,264 | 1,334 | 1,562 | 1,741 | 1,829 | 1,810 | 2,047 | 2,513 |
| Operating margin | 30.3% | 30.5% | 33.1% | 33.7% | 34.4% | 33.9% | 35.0% | 37.4% |
| Interest | 45 | 45 | 45 | 43 | 42 | 41 | 39 | 34 |
| Profit before tax | 1,294 | 1,348 | 1,537 | 1,779 | 1,859 | 1,837 | 2,012 | 2,555 |
| Tax rate | 13.7% | 11.7% | 13.4% | 3.3% | 15.6% | 13.2% | 9.3% | 10.9% |
| Net profit | 1,116 | 1,191 | 1,331 | 1,720 | 1,569 | 1,594 | 1,825 | 2,277 |
| EPS ($ per share) | 0.86 | 0.93 | 1.04 | — | 1.24 | 1.27 | 1.46 | — |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Reserves | 9,931 | 11,521 | 14,685 | 18,455 | 22,032 | 24,811 | 28,989 | 34,950 |
| Total liabilities | 7,278 | 9,376 | 9,865 | 10,917 | 10,571 | 10,205 | 11,484 | 11,059 |
| Fixed assets | 1,059 | 1,053 | 1,259 | 1,605 | 1,803 | 2,130 | 2,406 | 2,936 |
| Total assets | 12,001 | 14,559 | 15,892 | 17,196 | 18,782 | 18,745 | 21,345 | 23,530 |
| Line item | Jun 2019 | Jun 2020 | Jun 2021 | Jun 2022 | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 3,176 | 2,126 | 3,588 | 3,100 | 5,179 | 4,652 | 6,173 | 5,858 |
| Cash from investing | -1,637 | -244 | 73 | 612 | -535 | -371 | -708 | -922 |
| Cash from financing | -2,390 | -624 | -4,167 | -4,579 | -2,831 | -3,996 | -4,937 | -5,718 |
| Net cash flow | -855 | 1,256 | -498 | -897 | 1,814 | 263 | 557 | -810 |
| Capital expenditure | -303 | -203 | -349 | -546 | -502 | -397 | -759 | -966 |
| Free cash flow | 2,873 | 1,923 | 3,239 | 2,554 | 4,677 | 4,256 | 5,414 | 4,891 |
LRCX revenue by segment
| Segment | FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Reportable | — | — | — | — | 100% | 100% | 100% | 100% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
LRCX operating KPIs by quarter
| KPI | Mar 2025 Q3 FY25 | Jun 2025 Q4 FY25 | Sep 2025 Q1 FY26 | Dec 2025 Q2 FY26 | Mar 2026 Q3 FY26 | Jun 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Employees | ~18.6KWe ended the March quarter with approximately 18,600 regular full-time employees, which was an increase of approximately 300 people from the prior quarter.Source: earnings call transcript | ~19KWe ended the June quarter with approximately 19,000 regular full-time employees, which was an increase of approximately 400 people from the prior quarter.Source: earnings call transcript | ~19.4KWe ended the September quarter with approximately 19,400 regular full-time employees, which was an increase of approximately 400 people from the prior quarter.Source: earnings call transcript | ~19.7KWe ended the December quarter with approximately 19,700 regular full-time employees, which was an increase of approximately 300 people from the prior quarter.Source: earnings call transcript | ~20.6KWe ended the March quarter with approximately 20,600 regular full-time employees, which was an increase of approximately 900 people from the prior quarter.Source: earnings call transcript | ~22.4KWe ended the June quarter with approximately 22,400 regular full-time employees, which was an increase of approximately 1,800 people from the prior quarter.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q4 FY2026 · share of revenue
- TW 27% ↑ 12 pt
- KR 20% ↑ 1 pt
- JP 9% ↑ 2 pt
- US 9% ↓ 3 pt
- Europe 5%
As LRCX cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
144 filings between Oct 27, 2025 and Sep 9, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$170.11M
68 sales by 8 insiders
84% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 19
- Award — granted as compensation
- 20
- Option exercise — converted options into shares
- 31
- Tax withheld — shares kept back by the company to cover tax
Also filed: 6 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| ARCHER TIMOTHY | — | $57.04M | Sep 9, 2026 |
| BRANDT ERIC | — | $47.03M | Jun 12, 2026 |
| Bettinger Douglas R | — | $26.53M | Mar 4, 2026 |
| Varadarajan Seshasayee | — | $17.41M | Sep 2, 2026 |
| Fernandes Neil J | — | $7.01M | Jun 1, 2026 |
| TALWALKAR ABHIJIT Y | — | $6.12M | Jul 13, 2026 |
| Harter Ava | — | $5.75M | Aug 31, 2026 |
| Mayer Bethany | — | $3.22M | Sep 9, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 9, 2026 | Mayer Bethany Director | Sale | 9,557 | $3.01M |
| Sep 9, 2026 | ARCHER TIMOTHY President and CEO | Option exercise 10b5-1 plan | 30,000 | $901.0K |
| Sep 9, 2026 | ARCHER TIMOTHY President and CEO | Sale 10b5-1 plan | 30,000 | $9.58M |
| Sep 2, 2026 | Varadarajan Seshasayee Senior Vice President | Option exercise 10b5-1 plan | 27,480 | $825.3K |
| Sep 2, 2026 | Varadarajan Seshasayee Senior Vice President | Sale 10b5-1 plan | 20,000 | $5.83M |
| Sep 2, 2026 | Varadarajan Seshasayee Senior Vice President | Option exercise 10b5-1 plan | 12,270 | $734.7K |
| Sep 2, 2026 | Varadarajan Seshasayee Senior Vice President | Sale 10b5-1 plan | 27,480 | $8.01M |
| Sep 2, 2026 | Varadarajan Seshasayee Senior Vice President | Sale 10b5-1 plan | 12,270 | $3.57M |
| Aug 31, 2026 | Harter Ava Chief Legal Officer | Sale 10b5-1 plan | 5,000 | $1.51M |
| Aug 6, 2026 | ARCHER TIMOTHY President and CEO | Option exercise 10b5-1 plan | 30,000 | $901.0K |
| Aug 6, 2026 | ARCHER TIMOTHY President and CEO | Sale 10b5-1 plan | 30,000 | $9.00M |
| Aug 5, 2026 | Harter Ava Chief Legal Officer | Tax withheld | 5,790 | $1.78M |
| Jul 13, 2026 | TALWALKAR ABHIJIT Y Director | Sale 10b5-1 plan | 18,282 | $6.12M |
| Jul 2, 2026 | ARCHER TIMOTHY President and CEO | Sale 10b5-1 plan | 30,000 | $11.70M |
| Jul 2, 2026 | ARCHER TIMOTHY President and CEO | Option exercise 10b5-1 plan | 30,000 | $901.0K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 2,708 | $981.4K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 5,803 | $2.13M |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 7,700 | $2.87M |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 4,198 | $1.55M |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 4,030 | $1.48M |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,200 | $438.2K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,600 | $596.9K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 2,300 | $838.1K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 2,345 | $852.0K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 8,233 | $3.06M |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 819 | $295.8K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,906 | $686.4K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 3,828 | $1.37M |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,100 | $393.8K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,393 | $497.6K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 300 | $106.7K |
| Jun 12, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 5,037 | $1.87M |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 5,717 | $2.07M |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 2,604 | $943.2K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 2,832 | $979.4K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,756 | $634.0K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 664 | $239.2K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 3,208 | $1.11M |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 780 | $280.2K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,880 | $673.5K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,653 | $588.9K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,481 | $509.4K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 3,644 | $1.25M |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 974 | $328.8K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,331 | $473.2K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,461 | $517.3K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,070 | $365.7K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,172 | $414.3K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 1,455 | $519.5K |
| Jun 11, 2026 | BRANDT ERIC Director | Sale 10b5-1 plan | 36 | $12.6K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for LAM RESEARCH CORP
Free account. Everything above stays public.
Write why you follow LAM RESEARCH CORP and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other companies in Information Technology
Nearest to Lam Research by market cap among the sector's top 20 companies at Q2 2026.