Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Income Statement
Quarterly Data

Lam Research Corp., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Sep 29, 2024 Jun 30, 2024 Mar 31, 2024 Dec 24, 2023 Sep 24, 2023 Jun 25, 2023 Mar 26, 2023 Dec 25, 2022 Sep 25, 2022 Jun 26, 2022 Mar 27, 2022 Dec 26, 2021 Sep 26, 2021 Jun 27, 2021 Mar 28, 2021 Dec 27, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018
Revenue 4,167,976 3,871,507 3,793,558 3,758,259 3,482,062 3,207,257 3,869,569 5,277,569 5,074,121 4,635,554 4,060,416 4,226,604 4,304,465 4,145,179 3,847,654 3,456,237 3,177,080 2,791,864 2,503,625 2,583,501 2,165,746 2,361,147 2,439,048 2,522,673 2,330,691
Cost of goods sold (2,165,293) (2,026,133) (1,977,820) (1,985,847) (1,819,420) (1,737,682) (2,197,237) (2,901,220) (2,737,286) (2,535,042) (2,243,791) (2,248,688) (2,327,711) (2,229,978) (2,067,523) (1,852,442) (1,670,901) (1,511,532) (1,336,618) (1,403,857) (1,184,036) (1,280,256) (1,364,711) (1,377,640) (1,272,493)
Restructuring charges, net, cost of goods sold (5,276) (15,202) (14,957) (7,940) (11,446) (66,720)
Cost of goods sold (2,165,293) (2,031,409) (1,993,022) (2,000,804) (1,827,360) (1,749,128) (2,263,957) (2,901,220) (2,737,286) (2,535,042) (2,243,791) (2,248,688) (2,327,711) (2,229,978) (2,067,523) (1,852,442) (1,670,901) (1,511,532) (1,336,618) (1,403,857) (1,184,036) (1,280,256) (1,364,711) (1,377,640) (1,272,493)
Gross margin 2,002,683 1,840,098 1,800,536 1,757,455 1,654,702 1,458,129 1,605,612 2,376,349 2,336,835 2,100,512 1,816,625 1,977,916 1,976,754 1,915,201 1,780,131 1,603,795 1,506,179 1,280,332 1,167,007 1,179,644 981,710 1,080,891 1,074,337 1,145,033 1,058,198
Research and development (495,358) (497,829) (512,274) (469,712) (422,629) (401,951) (429,451) (462,385) (433,375) (411,157) (407,120) (403,644) (382,327) (381,749) (381,120) (375,172) (355,367) (338,810) (307,914) (318,861) (286,827) (295,578) (318,514) (285,556) (291,672)
Selling, general, and administrative (243,128) (216,477) (215,904) (228,843) (207,023) (199,831) (193,500) (233,802) (205,620) (210,002) (217,408) (236,133) (222,194) (217,525) (203,703) (218,899) (189,748) (185,800) (164,979) (174,272) (157,428) (168,228) (190,306) (169,098) (174,775)
Restructuring charges, net, operating expenses 768 (15,246) (1,688) (2,021) (1,742) (40,408)
Operating expenses (738,486) (713,538) (743,424) (700,243) (631,673) (603,524) (663,359) (696,187) (638,995) (621,159) (624,528) (639,777) (604,521) (599,274) (584,823) (594,071) (545,115) (524,610) (472,893) (493,133) (444,255) (463,806) (508,820) (454,654) (466,447)
Operating income 1,264,197 1,126,560 1,057,112 1,057,212 1,023,029 854,605 942,253 1,680,162 1,697,840 1,479,353 1,192,097 1,338,139 1,372,233 1,315,927 1,195,308 1,009,724 961,064 755,722 694,114 686,511 537,455 617,085 565,517 690,379 591,751
Other income (expense), net 30,081 27,796 36,073 29,839 2,601 9,010 (3,331) (28,234) (43,095) (120,448) (57,402) 17,999 (28,857) (7,166) (35,320) (29,941) (38,792) (7,553) (64,619) (13,924) (12,728) (7,667) 20,532 (30,649) (377)
Income before income taxes 1,294,278 1,154,356 1,093,185 1,087,051 1,025,630 863,615 938,922 1,651,928 1,654,745 1,358,905 1,134,695 1,356,138 1,343,376 1,308,761 1,159,988 979,783 922,272 748,169 629,495 672,587 524,727 609,418 586,049 659,730 591,374
Income tax expense (177,834) (134,074) (127,359) (132,785) (138,232) (61,078) (124,914) (183,421) (228,866) (149,971) (112,917) (161,308) (163,632) (164,104) (88,867) (110,554) (98,821) (51,496) (54,714) (158,077) (58,938) (67,593) (38,659) (90,875) (58,014)
Net income 1,116,444 1,020,282 965,826 954,266 887,398 802,537 814,008 1,468,507 1,425,879 1,208,934 1,021,778 1,194,830 1,179,744 1,144,657 1,071,121 869,229 823,451 696,673 574,781 514,510 465,789 541,825 547,390 568,855 533,360

Based on: 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), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-23), 10-Q (reporting date: 2018-09-23).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Lam Research Corp. revenue increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Operating income The net result for the period of deducting operating expenses from operating revenues. Lam Research Corp. operating income increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Lam Research Corp. income before income taxes increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Lam Research Corp. net income increased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.