Common-Size Income Statement
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Lam Research Corp., common-size consolidated income statement (quarterly data)
Based on: 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).
- Cost of Goods Sold
- The cost of goods sold (COGS) as a percentage of revenue exhibits a gradual improvement over the observed periods, decreasing from around 54.67% to approximately 49.57%. This suggests enhanced production efficiency or better cost management. Notably, some restructuring charges impacting COGS occurred intermittently, particularly in late 2022 and early 2023, causing slight temporary increases.
- Gross Margin
- Corresponding to the decline in COGS, the gross margin percentage consistently improves from about 45.33% initially to over 50.4% in recent quarters. This depicts an overall stronger profitability at the gross level, with some fluctuations but a clear upward trend, indicating the company's ability to retain more revenue after covering direct costs.
- Research and Development (R&D) Expenses
- R&D expenses as a percentage of revenue demonstrate variability. Initially trending downward to slightly below 9% around 2021, they then rise again to over 12% in early 2023, before tapering off closer to 10.8% by mid-2025. This pattern may reflect shifting investment focus or changes in development intensity aligned with strategic priorities.
- Selling, General, and Administrative (SG&A) Expenses
- SG&A expenses decline substantially over time from roughly 7.3% to near 4-5%, indicating improved operational efficiency and tighter expense control in these areas. Minor restructuring charges related to operating expenses affected these costs around late 2022 but did not alter the general downward trend.
- Operating Expenses
- Combining R&D and SG&A trends, total operating expenses show a declining trajectory from about 20.5% to approximately 16%, though with some upticks notably in 2022 and early 2023, partly driven by restructuring activities. Overall, the reduction supports improved operating leverage.
- Operating Income
- Operating income margin shows an upward trend from about 24.8% to the mid-30% range by 2025, reflecting the combined effects of improved gross margins and controlled operating expenses. Although some dips appear during restructuring episodes, the overall pattern is positive with maximized operating profitability.
- Other Income (Expense), Net
- This category fluctuates with mixed positive and negative impacts, mostly remaining below 1% of revenue but occasionally dipping deeper, such as around early to mid-2020. More recently, the values become more positive, contributing small incremental income effects on the bottom line.
- Income Before Income Taxes
- Income before taxes closely mirrors the operating income trend with slight variation due to other income and expenses, rising generally from around 24.2% to nearly 35% of revenue, indicating strong pre-tax profitability gains across the periods reviewed.
- Income Tax Expense
- Income tax expense as a percentage of revenue displays considerable variability, ranging mostly between 1% and 6%, with no consistent clear trend. Sudden decreases and increases suggest changes in tax planning, rates, or one-off tax effects in individual quarters.
- Net Income
- Net income margin remains robust and relatively stable around 20% to 30% of revenue, with some fluctuations matching tax expense changes and operating income shifts. The margin improves towards the latter periods, peaking above 33% in mid-2024, indicating effective translation of pre-tax profitability to the bottom line despite tax volatility.