Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
EV to EBITDA Ratio, Current
EV to EBITDA Ratio, Historical

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Lam Research Corp., EBITDA calculation

US$ in thousands

12 months ended:	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Net income	3,827,772)	4,510,931)	4,605,286)	3,908,458)	2,251,753)	2,191,430)
Add: Income tax expense	532,450)	598,279)	587,828)	462,346)	323,225)	255,141)
Earnings before tax (EBT)	4,360,222)	5,109,210)	5,193,114)	4,370,804)	2,574,978)	2,446,571)
Add: Interest expense	185,236)	186,462)	184,759)	208,597)	177,440)	117,263)
Earnings before interest and tax (EBIT)	4,545,458)	5,295,672)	5,377,873)	4,579,401)	2,752,418)	2,563,834)
Add: Depreciation and amortization	359,699)	342,432)	333,739)	307,151)	268,525)	309,281)
Earnings before interest, tax, depreciation and amortization (EBITDA)	4,905,157)	5,638,104)	5,711,612)	4,886,552)	3,020,943)	2,873,115)

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-25), 10-K (reporting date: 2022-06-26), 10-K (reporting date: 2021-06-27), 10-K (reporting date: 2020-06-28), 10-K (reporting date: 2019-06-30).

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Item	Description	The company
EBITDA	To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital.	Lam Research Corp. EBITDA decreased from 2022 to 2023 and from 2023 to 2024.

Enterprise Value to EBITDA Ratio, Current

Lam Research Corp., current EV/EBITDA calculation, comparison to benchmarks

Selected Financial Data (US$ in thousands)
Enterprise value (EV)	89,422,162)
Earnings before interest, tax, depreciation and amortization (EBITDA)	4,905,157)
Valuation Ratio
EV/EBITDA	18.23
Benchmarks
EV/EBITDA, Competitors¹
Advanced Micro Devices Inc.	54.81
Analog Devices Inc.	17.92
Applied Materials Inc.	16.34
Broadcom Inc.	38.79
First Solar Inc.	15.29
Intel Corp.	11.83
KLA Corp.	21.64
Micron Technology Inc.	11.87
NVIDIA Corp.	100.72
Qualcomm Inc.	14.47
Texas Instruments Inc.	20.65
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	63.61
EV/EBITDA, Industry
Information Technology	36.39

Based on: 10-K (reporting date: 2024-06-30).

¹ Click competitor name to see calculations.

If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.

Enterprise Value to EBITDA Ratio, Historical

Lam Research Corp., historical EV/EBITDA calculation, comparison to benchmarks

	Jun 30, 2024	Jun 25, 2023	Jun 26, 2022	Jun 27, 2021	Jun 28, 2020	Jun 30, 2019
Selected Financial Data (US$ in thousands)
Enterprise value (EV)¹	102,685,613)	86,575,659)	64,909,177)	82,774,600)	55,446,762)	30,721,104)
Earnings before interest, tax, depreciation and amortization (EBITDA)²	4,905,157)	5,638,104)	5,711,612)	4,886,552)	3,020,943)	2,873,115)
Valuation Ratio
EV/EBITDA³	20.93	15.36	11.36	16.94	18.35	10.69
Benchmarks
EV/EBITDA, Competitors⁴
Advanced Micro Devices Inc.	—	65.81	22.63	34.19	62.10	82.59
Analog Devices Inc.	—	15.56	16.23	38.55	23.61	18.67
Applied Materials Inc.	—	15.75	11.04	17.54	16.82	14.60
Broadcom Inc.	—	26.42	13.54	19.72	18.89	16.32
First Solar Inc.	—	11.52	53.82	7.64	12.99	32.49
Intel Corp.	—	18.96	6.20	6.02	6.40	8.73
KLA Corp.	24.77	15.67	14.97	19.26	18.10	14.14
Micron Technology Inc.	12.40	32.38	3.26	6.05	6.46	3.90
NVIDIA Corp.	46.95	95.69	57.58	58.98	52.92	21.08
Qualcomm Inc.	15.19	12.82	7.84	12.76	19.49	10.55
Texas Instruments Inc.	—	16.36	14.69	15.54	21.75	17.73
EV/EBITDA, Sector
Semiconductors & Semiconductor Equipment	—	26.35	14.60	15.47	14.72	11.61
EV/EBITDA, Industry
Information Technology	—	23.65	18.58	20.64	19.71	14.59

¹ See details »

² See details »

³ 2024 Calculation
EV/EBITDA = EV ÷ EBITDA
= 102,685,613 ÷ 4,905,157 = 20.93

⁴ Click competitor name to see calculations.

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Valuation ratio	Description	The company
EV/EBITDA	Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock.	Lam Research Corp. EV/EBITDA ratio increased from 2022 to 2023 and from 2023 to 2024.

Lam Research Corp. (NASDAQ:LRCX)

Enterprise Value to EBITDA (EV/EBITDA)

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)

Enterprise Value to EBITDA Ratio, Current

Enterprise Value to EBITDA Ratio, Historical