Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Based on: 10-Q (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-K (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-24), 10-Q (reporting date: 2023-09-24), 10-K (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-Q (reporting date: 2022-12-25), 10-Q (reporting date: 2022-09-25), 10-K (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-Q (reporting date: 2021-12-26), 10-Q (reporting date: 2021-09-26), 10-K (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-Q (reporting date: 2020-09-27), 10-K (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29).
The composition of assets for the observed period demonstrates several notable shifts. Current assets consistently represent a substantial portion of the total asset base, generally fluctuating between 67% and 75%. Long-term assets comprise the remaining portion, ranging from approximately 25% to 35%. Within these broad categories, specific asset components exhibit distinct trends.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrate considerable volatility. Initially representing a significant portion of assets (37.32% in September 2019), the percentage decreased to a low of 20.48% in June 2022 before increasing again, peaking at 31.20% in March 2024. A slight decline is observed in the most recent periods, settling at 28.89% in September 2025. This suggests active cash management and potentially strategic deployment of funds.
- Accounts Receivable
- Accounts receivable generally increased as a percentage of total assets from 13.25% in September 2019 to a peak of 25.09% in March 2022. Following this peak, the proportion decreased, reaching 12.06% in September 2023, before a slight increase to 16.32% in September 2025. This pattern could indicate changes in sales terms, collection efficiency, or overall sales volume.
- Inventories
- Inventories show a consistent upward trend as a percentage of total assets throughout much of the period, rising from 12.02% in September 2019 to 25.64% in June 2023. A subsequent decline is observed, decreasing to 18.88% in September 2025. This suggests potential shifts in inventory management strategies or fluctuations in production levels and demand.
- Prepaid Expenses and Other Current Assets
- This category exhibits a decreasing trend over the observed period. Starting at 8.98% in September 2019, it steadily declines to 1.44% in September 2025. This suggests a reduction in the need for upfront payments or a change in accounting practices related to these expenses.
- Property and Equipment, Net
- The proportion of property and equipment, net, to total assets generally increased from 8.35% in September 2019 to 12.67% in September 2025, with some fluctuations. This indicates ongoing investment in fixed assets, potentially supporting future growth.
- Goodwill and Intangible Assets, Net
- Goodwill and intangible assets, net, experienced a slight decrease overall, starting at 13.70% in September 2019 and ending at 8.71% in September 2025. This could be due to amortization, impairment charges, or a shift in the company’s acquisition strategy.
- Other Assets
- Other assets demonstrate a notable increasing trend, rising from 6.38% in September 2019 to 13.08% in September 2025. This suggests a growing investment in assets not categorized elsewhere, requiring further investigation to understand the specific nature of these holdings.
In summary, the asset composition has shifted over the observed period, with notable changes in cash levels, accounts receivable, inventories, and other assets. The increasing proportion of property and equipment suggests investment in long-term capacity, while the decline in goodwill and intangible assets may reflect strategic adjustments. The overall trend indicates a dynamic asset structure responding to changing business conditions.