AMAT vs. LRCX: Applied Materials vs. Lam Research Stock Comparison

November 11, 2026

How do Applied Materials (AMAT) and Lam Research (LRCX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Applied Materials (AMAT) and Lam Research (LRCX) are both classified in the Semiconductor Materials & Equipment sub-industry within the broader Semiconductors & Semiconductor Equipment industry, placing them in the closest GICS peer bucket.

Company profile comparison for Applied Materials (AMAT) and Lam Research (LRCX)
Profile Item	AMAT	LRCX
Name	Applied Materials Inc.	Lam Research Corp.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductor Materials & Equipment	Semiconductor Materials & Equipment
Market Capitalization	264.04 billion USD	250.84 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	March 17, 1980	May 4, 1984
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AMAT

LRCX

GSPC

Applied Materials (AMAT) vs. Lam Research (LRCX), with S&P 500 (GSPC) for reference: 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 Applied Materials (AMAT) and Lam Research (LRCX). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Applied Materials (AMAT) and Lam Research (LRCX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
Total Return (1Y)	62.12%	36.98%
Total Return (3Y, Annualized)	38.42%	50.75%
Total Return (5Y, Annualized)	19.86%	29.74%

Risk Profile

Drawdown History

AMAT

LRCX

GSPC

Applied Materials (AMAT) vs. Lam Research (LRCX), with S&P 500 (GSPC) for reference: 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 Applied Materials (AMAT) and Lam Research (LRCX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
Volatility (1Y, Annualized)	63.72%	68.85%
Beta (5Y)	1.68	2.02
Max Drawdown (5Y)	-55.80%	-57.22%
Avg. Volume (3M)	7.16M	9.82M

Risk-Adjusted Performance

Risk-Return Positioning

AMAT and LRCX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
Sharpe Ratio (1Y)	0.91	0.47
Sortino Ratio (1Y)	1.35	0.69

Profitability

ROE (TTM)

Both companies show strong equity returns, but Lam Research (LRCX) at 70.12% is the standout with ROE above its industry range; Applied Materials (AMAT) at 41.07% also sits in the top quartile.

AMAT

Semiconductors & Semiconductor Equipment industry group

41.07%

Max: 52.82%
AMAT: 41.07%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

LRCX

Semiconductors & Semiconductor Equipment industry group

70.12%

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

For every dollar of sales, both Applied Materials (AMAT) at 30.05% and Lam Research (LRCX) at 32.34% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

AMAT

Semiconductors & Semiconductor Equipment industry group

30.05%

Max: 63.80%
AMAT: 30.05%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

LRCX

Semiconductors & Semiconductor Equipment industry group

32.34%

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

Both Applied Materials (AMAT) at 33.74% and Lam Research (LRCX) at 39.95% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

AMAT

Semiconductors & Semiconductor Equipment industry group

33.74%

Max: 58.66%
AMAT: 33.74%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

LRCX

Semiconductors & Semiconductor Equipment industry group

39.95%

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
ROE (TTM)	41.07%	70.12%
ROA (TTM)	15.48%	25.01%
Net Margin (TTM)	30.05%	32.34%
Operating Margin (TTM)	33.74%	39.95%
Gross Margin (TTM)	49.40%	51.05%

Growth

Revenue Growth

Lam Research (LRCX) at 26.02% sits in the top revenue growth quartile, while Applied Materials (AMAT) at 4.39% is closer to the peer norm — faster top-line expansion for LRCX.

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Applied Materials (AMAT) at 0.58% and Lam Research (LRCX) at 38.80% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
Revenue Growth (YoY)	4.39%	26.02%
Revenue Growth (3Y CAGR)	3.23%	10.06%
EPS Growth (YoY)	0.58%	38.80%
EPS Growth (3Y CAGR)	5.19%	20.15%

Financial Strength

Current Ratio (MRQ)

Both Applied Materials (AMAT) at 2.42 and Lam Research (LRCX) at 2.48 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

AMAT

Semiconductors & Semiconductor Equipment industry group

2.42

Max: 10.33
Q3: 5.62
Median: 3.33
AMAT: 2.42
Q1: 2.35
Min: 1.03

LRCX

Semiconductors & Semiconductor Equipment industry group

2.48

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

Both Applied Materials (AMAT) at 0.29 and Lam Research (LRCX) at 0.27 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

AMAT

Semiconductors & Semiconductor Equipment industry group

0.29

Max: 1.46
Q3: 0.65
AMAT: 0.29
Median: 0.27
Q1: 0.04
Min: 0.00

LRCX

Semiconductors & Semiconductor Equipment industry group

0.27

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
Current Ratio (MRQ)	2.42	2.48
Debt / Equity (MRQ)	0.29	0.27
Net Debt / EBITDA	-0.19	-0.37

Dividends

Dividend Yield (TTM)

Both Applied Materials (AMAT) at 0.62% and Lam Research (LRCX) at 0.60% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

AMAT

Semiconductors & Semiconductor Equipment industry group

0.62%

Max: 1.37%
Q3: 0.65%
AMAT: 0.62%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

LRCX

Semiconductors & Semiconductor Equipment industry group

0.60%

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Both Applied Materials (AMAT) at 16.48% and Lam Research (LRCX) at 16.54% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

AMAT

Semiconductors & Semiconductor Equipment industry group

16.48%

Max: 49.64%
Q3: 21.71%
AMAT: 16.48%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

LRCX

Semiconductors & Semiconductor Equipment industry group

16.54%

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
Dividend Yield (TTM)	0.62%	0.60%
Dividend Payout Ratio (TTM)	16.48%	16.54%

Valuation

P/E Ratio (TTM)

Both Applied Materials (AMAT) at 28.71 and Lam Research (LRCX) at 29.87 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

AMAT

Semiconductors & Semiconductor Equipment industry group

28.71

Max: 110.34
Q3: 66.81
Median: 37.02
AMAT: 28.71
Q1: 23.96
Min: 8.12

LRCX

Semiconductors & Semiconductor Equipment industry group

29.87

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Applied Materials (AMAT) at 8.56 and Lam Research (LRCX) at 9.60 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

AMAT

Semiconductors & Semiconductor Equipment industry group

8.56

Max: 21.42
Q3: 12.27
AMAT: 8.56
Median: 5.76
Q1: 2.73
Min: 0.00

LRCX

Semiconductors & Semiconductor Equipment industry group

9.60

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Applied Materials (AMAT) at 10.30 sits in the upper P/B ratio quartile, and Lam Research (LRCX) at 18.00 prices even higher, above its industry range.

AMAT

Semiconductors & Semiconductor Equipment industry group

10.30

Max: 14.06
AMAT: 10.30
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

LRCX

Semiconductors & Semiconductor Equipment industry group

18.00

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

Applied Materials (AMAT) vs. Lam Research (LRCX): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Applied Materials (AMAT) and Lam Research (LRCX)
Metric	AMAT	LRCX
P/E Ratio (TTM)	28.71	29.87
P/S Ratio (TTM)	8.56	9.60
P/B Ratio (MRQ)	10.30	18.00
Free Cash Flow Yield (TTM)	1.16%	1.81%