Lam Research (LRCX) Stock Analysis

November 11, 2026

This is a peer-relative look at Lam Research (LRCX): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Semiconductors & Semiconductor Equipment peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Lam Research (LRCX)
Profile Item	LRCX
Name	Lam Research Corp.
Country/Region	United States
GICS Sector	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductor Materials & Equipment
Market Capitalization	250.84 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	May 4, 1984
Security Type	Common Stock

Price Performance

Cumulative Growth

LRCX

GSPC

Lam Research (LRCX) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Lam Research (LRCX) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Lam Research (LRCX) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
Total Return (1Y)	36.98%	35.06%
Total Return (3Y, Annualized)	50.75%	22.14%
Total Return (5Y, Annualized)	29.74%	7.43%

Risk Profile

Drawdown History

LRCX

GSPC

Lam Research (LRCX) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Lam Research (LRCX) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
Volatility (1Y, Annualized)	68.85%	73.97%
Beta (5Y)	2.02	1.84
Max Drawdown (5Y)	-57.22%	-64.62%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. LRCX is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
Sharpe Ratio (1Y)	0.47	0.42
Sortino Ratio (1Y)	0.69	0.61

Profitability

ROE (TTM)

Lam Research (LRCX) posts ROE of 70.12%, above the industry benchmark range. Equity is being turned into profit at an exceptional rate, but very high ROE should still be checked against leverage, buybacks, and the size of the equity base.

LRCX

Semiconductors & Semiconductor Equipment industry group

70.12%

Group distribution

LRCX: 70.12%
Max: 52.82%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

Largest peers

NVDA: 117.21%
SKHY: 92.54%
MU: 88.26%
LRCX: 70.12%
AVGO: 44.25%
TSM: 41.86%
AMD: 11.96%

Where Lam Research (LRCX) stands on ROE within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Lam Research (LRCX) keeps 32.34% of revenue as net profit, putting net margin in the upper peer quartile. After operating costs, interest, and taxes, more of each sales dollar reaches shareholders than it does at most industry peers.

LRCX

Semiconductors & Semiconductor Equipment industry group

32.34%

Group distribution

Max: 63.80%
LRCX: 32.34%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

Largest peers

SKHY: 70.27%
MU: 63.80%
NVDA: 63.66%
TSM: 51.12%
AVGO: 42.94%
LRCX: 32.34%
AMD: 16.77%

Where Lam Research (LRCX) stands on net margin within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Lam Research (LRCX) turns 39.95% of revenue into operating profit, putting operating margin in the upper peer quartile. Before financing and taxes enter the picture, the day-to-day business keeps more of each sales dollar than most industry peers.

LRCX

Semiconductors & Semiconductor Equipment industry group

39.95%

Group distribution

Max: 58.66%
LRCX: 39.95%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

Largest peers

MU: 80.68%
SKHY: 79.66%
NVDA: 66.24%
TSM: 58.66%
AVGO: 54.31%
LRCX: 39.95%
AMD: 21.17%

Where Lam Research (LRCX) stands on operating margin within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
ROE (TTM)	70.12%	10.58%
ROA (TTM)	25.01%	4.85%
Net Margin (TTM)	32.34%	11.44%
Operating Margin (TTM)	39.95%	15.91%
Gross Margin (TTM)	51.05%	49.36%

Growth

Revenue Growth

Lam Research (LRCX) grew revenue 26.02%, in the upper peer quartile. The top line is expanding faster than at most industry peers, which points to share gains or stronger pricing.

Lam Research (LRCX): Revenue Growth across different time periods, set against Semiconductors & Semiconductor Equipment industry-group medians.

EPS Growth

Lam Research (LRCX) grew earnings per share 38.80%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Lam Research (LRCX): EPS Growth across different time periods, set against Semiconductors & Semiconductor Equipment industry-group medians.

Growth Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
Revenue Growth (YoY)	26.02%	9.64%
Revenue Growth (3Y CAGR)	10.06%	0.00%
EPS Growth (YoY)	38.80%	4.90%
EPS Growth (3Y CAGR)	20.15%	-7.71%

Financial Strength

Current Ratio (MRQ)

Lam Research (LRCX) has current ratio of 2.48, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

LRCX

Semiconductors & Semiconductor Equipment industry group

2.48

Group distribution

Max: 10.33
Q3: 5.62
Median: 3.33
LRCX: 2.48
Q1: 2.35
Min: 1.03

Largest peers

SKHY: 26.88
NVDA: 4.59
MU: 3.31
AMD: 2.73
TSM: 2.51
AVGO: 2.50
LRCX: 2.48

Where Lam Research (LRCX) stands on current ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Lam Research (LRCX) has debt-to-equity ratio of 0.27, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

LRCX

Semiconductors & Semiconductor Equipment industry group

0.27

Group distribution

Max: 1.46
Q3: 0.65
LRCX: 0.27
Median: 0.27
Q1: 0.04
Min: 0.00

Largest peers

AVGO: 0.60
LRCX: 0.27
NVDA: 0.17
AMD: 0.13
TSM: 0.12
SKHY: 0.05
MU: 0.04

Where Lam Research (LRCX) stands on debt-to-equity ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
Current Ratio (MRQ)	2.48	3.33
Debt / Equity (MRQ)	0.27	0.27
Net Debt / EBITDA	-0.37	-0.36

Dividends

Dividend Yield (TTM)

Lam Research (LRCX) has dividend yield of 0.60%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

LRCX

Semiconductors & Semiconductor Equipment industry group

0.60%

Group distribution

Max: 1.37%
Q3: 0.65%
LRCX: 0.60%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

SKHY: 2,118.64%
TSM: 1.70%
AVGO: 0.89%
LRCX: 0.60%
NVDA: 0.15%
MU: 0.09%
AMD: 0.00%

Where Lam Research (LRCX) stands on dividend yield within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Lam Research (LRCX) has payout ratio of 16.54%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

LRCX

Semiconductors & Semiconductor Equipment industry group

16.54%

Group distribution

Max: 49.64%
Q3: 21.71%
LRCX: 16.54%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

AVGO: 32.44%
TSM: 24.46%
LRCX: 16.54%
NVDA: 3.54%
MU: 0.71%
SKHY: 0.00%
AMD: 0.00%

Where Lam Research (LRCX) stands on payout ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
Dividend Yield (TTM)	0.60%	0.00%
Dividend Payout Ratio (TTM)	16.54%	0.00%

Valuation

P/E Ratio (TTM)

Lam Research (LRCX) trades at P/E ratio of 29.87, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

LRCX

Semiconductors & Semiconductor Equipment industry group

29.87

Group distribution

Max: 110.34
Q3: 66.81
Median: 37.02
LRCX: 29.87
Q1: 23.96
Min: 8.12

Largest peers

AMD: 95.95
AVGO: 37.51
LRCX: 29.87
TSM: 24.33
NVDA: 23.60
MU: 9.28
SKHY: 8.12

Where Lam Research (LRCX) stands on P/E ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Lam Research (LRCX) trades at 9.60 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

LRCX

Semiconductors & Semiconductor Equipment industry group

9.60

Group distribution

Max: 21.42
Q3: 12.27
LRCX: 9.60
Median: 5.76
Q1: 2.73
Min: 0.00

Largest peers

AMD: 16.21
AVGO: 15.73
NVDA: 14.88
LRCX: 9.60
MU: 5.86
TSM: 0.39
SKHY: 0.00

Where Lam Research (LRCX) stands on P/S ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Lam Research (LRCX) trades at 18.00 on P/B ratio, above the industry benchmark range. Investors are putting an unusually rich price on each dollar of book equity relative to peers.

LRCX

Semiconductors & Semiconductor Equipment industry group

18.00

Group distribution

LRCX: 18.00
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

Largest peers

TSM: 71.65
NVDA: 19.68
LRCX: 18.00
AVGO: 14.06
AMD: 10.77
MU: 5.64
SKHY: 3.95

Where Lam Research (LRCX) stands on P/B ratio within its Semiconductors & Semiconductor Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Lam Research (LRCX) metric values compared with Semiconductors & Semiconductor Equipment industry-group medians
Metric	Current stock: LRCX	Industry group median
P/E Ratio (TTM)	29.87	37.02
P/S Ratio (TTM)	9.60	5.76
P/B Ratio (MRQ)	18.00	4.29
Free Cash Flow Yield (TTM)	1.81%	1.46%