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Lam Research Corporation

LRCX NASDAQ

Lam Research Corporation looks about 58% overvalued against its cash-flow value. Its growth outlook scores strong; the balance sheet is solid.

$269.61 -7.28% today as of 28 Jul, 8:28 PM
Semiconductor Equipment & Materials

At a glance

tap a tile to dig in
68 overall score Fair value -58% overvalued vs estimate Health 16/21 checks pass Price · the last month +2.9% Growth 13.5%/yr revenue trend Dividend 0.39% yield P / E 51.1 price / earnings

Otto's verdict

the tiles above, in a line each

Not investment advice — Otto just crunches numbers.

Price trend

+2.9% over the last month · S&P 500 +3.5%

2026-07-24 · $305.21 2026-08-21 · $314.00

What think

The market's move: +2.9% over the past year

52-wk low $90.94 high $438.50

Trading 51% up its 52-week range. Price is the market's live vote — not advice.

The snowflake

checks passed on each axis
Value 0% Future 100% Past 100% Health 100% Dividend 40%
  • Value 0/2 checks
  • Future 4/4 checks
  • Past 4/4 checks
  • Health 6/6 checks
  • Dividend 2/5 checks
What does this show?

Five quick health scores — Value, Future, Past, Health and Dividend — each 0–100%. A bigger, more even shape means a stock that scores well across the board; a spiky one is strong on some axes and weak on others.

Learn more on Investopedia →

Fair value

our estimate · not analyst forecast

58% above our estimate — the price sits over what our numbers support.

$269.61 price today $113.56 fair value
How we got there

A 2-stage discounted-cash-flow on owner earnings (net income): grow it at the capped historical trend for five years, fade to a 2.5% long-run rate, discount everything at 9.0%. It's a transparent estimate from past numbers, not a licensed forecast — treat it as one lens, not truth.

What does this show?

Our estimate of what one share is worth based on the cash the business is expected to generate (a discounted-cash-flow model), next to today's price. Below fair value hints undervalued, above hints expensive — it's an estimate, not a guarantee.

Learn more on Investopedia →

Health checks

21 checks run on free data
Show all 21 checks by axis

Value 0/2 passed

  • ⚠ Trading below our fair-value estimate -58% vs our DCF estimate
  • – P/B below industry industry P/B not on the free feed
  • – P/E below industry industry P/E not on the free feed
  • – P/E below peer average peer P/Es land after the next refresh
  • – P/S sane vs its own history needs multi-year P/S (Tier B)
  • ⚠ More than 20% below fair value -58% margin of safety

Future 4/4 passed

  • ✓ Earnings trending up 21.7%/yr over 9yr
  • – Growth beats the industry industry growth not on the free feed
  • ✓ Earnings growth beats the market 21.7%/yr vs market ~9.0%
  • ✓ Revenue trending up 13.5%/yr over 9yr
  • ✓ Return on equity improving ROE 54.3% vs 15.5% 9yr ago

Past 4/4 passed

  • ✓ Earnings grew over the period 914.0M → 5.4B
  • – High-quality earnings (few one-offs) one-off detection deferred — needs statement detail
  • ✓ Growth accelerating vs its average latest 40.0%/yr vs 21.7% average
  • ✓ Revenue higher than five years ago 5.9B → 18.4B
  • ✓ Return on equity above 20% ROE 66.8%

Health 6/6 passed

  • ✓ Debt/equity falling over time long-term debt/equity 37.7% vs 57.3%
  • ✓ Debt is under 40% of equity debt/equity 35%
  • ✓ Debt well covered by cash flow operating cash flow covers 138.0% of debt
  • ✓ Interest comfortably covered by profit EBIT covers interest 33.3×
  • ✓ Short-term assets cover long-term debt 14.5B vs 4.9B
  • ✓ Short-term assets cover short-term bills 14.5B vs 6.6B

Dividend 2/5 passed

  • – Dividend covered by earnings and cash flow n/a
  • ✓ Dividend growing over time over 10yr on record
  • ⚠ No dividend cut in recent years a cut shows in the record
  • ✓ Payout ratio under 75% payout 19.1% of earnings
  • ⚠ Yield beats the market yield 0.39% vs market ~1.5%
  • ⚠ Yield in the top quartile of payers yield 0.39% vs 2.70% cut among the 60 payers Otto tracks
What does this show?

Pass/fail rules on the company's finances — debt levels, profitability, cash cover and so on. More greens means a sturdier balance sheet; an n/a just means we didn't have that data point.

Learn more on Investopedia →

Past performance

10-yr history from SEC EDGAR filings

Revenue

2016 · 5.9B 2025 · 18.4B

Earnings

2016 · 914.0M 2025 · 5.4B

dashed line = what it'd look like growing at our ~9% market-average benchmark, for comparison

What does this show?

How revenue, earnings and free cash flow have grown over the years. Bars rising left-to-right show a growing business; the dashed line is a market-average pace for comparison.

Learn more on Investopedia →

Revenue & expenses

FY 2025
Revenue $18.44B +24% Y/Y Gross profit $8.98B 49% margin Cost of sales $9.46B 51% of revenue Operating profit $5.90B 32% margin Operating expenses $3.08B 17% of revenue Net profit $5.36B 29% margin Tax $599.91M 3% of revenue R&D $2.10B 11% of revenue SG&A $981.70M 5% of revenue
What does this show?

How a company turns sales into profit. Revenue splits into the direct cost of sales and the gross profit left over; from that gross profit come operating costs (R&D, SG&A), tax and interest — what survives is net income. Every figure is also shown as a share of revenue, so you can compare periods and companies of different sizes.

Learn more on Investopedia →

Future

trend, not analyst forecast

Revenue · extended at 13.5%/yr

2016 · 5.9B 2028 · 27.0B projected

Earnings · extended at 15.0%/yr

2016 · 914.0M 2028 · 8.1B projected

Dashed bars just extend the historical trend (capped at ±15%/yr) — the same growth our DCF uses. It's arithmetic on the past, not an analyst forecast; real futures bend.

What does this show?

Solid bars are history; dashed bars simply extend the past growth trend a few years forward — capped so it stays sane. It's a trend line, not an analyst forecast.

Learn more on Investopedia →

Dividend

from cash actually paid, not promises
0.39% current yield · market ~1.5%
6 yrs without a cut, on record
Growing over the saved record
paying out 21.5% of earnings 75% comfort line

Total dividends paid · split-proof, unlike per-share history

2016 · 190.4M 2025 · 1.1B
What does this show?

The share of profit paid back to shareholders as cash. Yield is that cash as a % of the price; the payout gauge shows how much of earnings is paid out (over ~75% can be hard to sustain).

Learn more on Investopedia →

Ownership & insiders

from SEC Form 4 filings

0 open-market buys · 7 sales in the last 10 saved filings

Insiders must report within two business days. Sales are often pre-planned (10b5-1) rather than a signal — buys tend to say more.

What does this show?

Buys and sells by the company's own directors and officers, from their SEC filings. Insiders sell for many reasons, but clusters of open-market buying can signal confidence.

Learn more on Investopedia →

Competitors

Compare Semiconductor Equipment & Materials · tap to jump
AMAT Applied Materials, Inc. $518.21 +2.4% scores after next refresh same industry
What does this show?

A few peers in the same business, each with its own mini snowflake, so you can see how this company stacks up rather than judging it in isolation. Anyone signed in can add a missing competitor — it shows for everyone, marked as user-added.

Learn more on Investopedia →

Leadership

Yahoo Finance · photos & bios via Wikidata

Ranked by title — reporting lines aren't public data. Compensation is the total Yahoo reports; blank means it isn't disclosed there.

In the news

My notes