Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Lam Research Corp., historical price multiples (quarterly data)

Microsoft Excel
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
Price to earnings (P/E) 23.93 27.05 33.64 32.06 19.89 19.26 14.05 12.60 10.51 13.77 13.97 17.91 18.12 21.03 26.30 24.88 18.97 24.23 18.13 22.89 18.89 13.64
Price to operating profit (P/OP) 21.55 24.29 30.42 28.60 17.56 16.79 11.92 10.68 8.94 11.79 12.15 15.75 15.79 18.34 23.20 21.56 15.98 20.40 15.00 19.68 16.64 12.13
Price to sales (P/S) 6.23 6.95 8.53 7.75 4.99 4.99 3.66 3.39 2.83 3.68 3.79 4.98 4.91 5.62 6.86 6.18 4.48 5.43 3.95 4.96 4.23 3.10
Price to book value (P/BV) 11.46 12.13 15.14 13.49 9.82 10.58 8.22 7.78 6.88 10.10 10.52 12.70 13.28 13.64 16.94 13.40 9.14 10.55 8.38 10.81 8.13 6.40 5.88 4.51 4.27

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Lam Research Corp. P/E ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Lam Research Corp. P/OP ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Lam Research Corp. P/S ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Lam Research Corp. P/BV ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Price to Earnings (P/E)

Lam Research Corp., historical P/E calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,286,685,000 1,298,760,000 1,307,410,000 1,311,030,000 1,317,920,000 1,325,117,010 1,343,404,740 1,349,362,090 1,363,793,360 1,369,877,920 1,387,150,270 1,395,001,430 1,407,986,970 1,419,536,810 1,426,193,460 1,429,083,150 1,440,092,200 1,456,252,250 1,451,622,290 1,455,484,700 1,450,788,880 1,445,329,980 1,499,265,290 1,525,934,540 1,551,828,060
Selected Financial Data (US$)
Net income (in thousands) 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
Earnings per share (EPS)2 3.15 2.95 2.76 2.64 3.01 3.40 3.66 3.80 3.56 3.36 3.27 3.29 3.03 2.75 2.43 2.07 1.81 1.55 1.44 1.42 1.46 1.52 0.00 0.00 0.00
Share price1, 3 75.45 79.73 92.88 84.58 59.96 65.58 51.44 47.86 37.40 46.30 45.72 58.95 54.89 57.90 63.81 51.61 34.38 37.46 26.19 32.54 27.65 20.68 20.74 17.09 14.64
Valuation Ratio
P/E ratio4 23.93 27.05 33.64 32.06 19.89 19.26 14.05 12.60 10.51 13.77 13.97 17.91 18.12 21.03 26.30 24.88 18.97 24.23 18.13 22.89 18.89 13.64
Benchmarks
P/E Ratio, Competitors5
Advanced Micro Devices Inc. 132.06 172.70 208.95 317.27 839.13 332.75 96.16 41.59 50.59 47.48 45.54 37.20 34.57 35.41 41.66 104.54 146.69 129.05 169.62
Analog Devices Inc. 68.22 55.68 34.12 27.14 23.57 23.96 28.93 31.21 46.35 50.61 68.72 68.31 35.88 36.19 41.93 41.43 39.23 37.97 37.64 31.04 26.42 23.89 24.87
Applied Materials Inc. 22.15 24.70 23.55 19.63 18.50 17.61 14.79 13.55 13.59 14.82 17.99 22.05 22.54 28.42 27.11 22.31 18.29 17.29 21.57 20.25 15.06 10.73 9.34
Broadcom Inc. 145.09 76.08 50.29 36.78 25.96 24.11 20.92 20.70 21.10 26.03 31.86 40.73 35.19 42.12 50.39 66.38 65.22 51.79 36.94 47.09 38.49 30.48 17.68
First Solar Inc. 17.13 18.76 18.55 18.65 32.11 135.77 515.10 149.27 55.89 36.08 17.16 27.30 16.25 15.73 21.56 44.30 78.20 107.84
Intel Corp. 94.20 33.38 109.27 14.54 9.02 7.80 7.24 9.85 9.53 11.59 12.86 11.02 9.00 9.09 11.04 13.91
KLA Corp. 30.04 34.24 36.43 29.95 20.06 20.04 15.12 15.62 13.89 16.89 15.13 18.50 19.76 25.97 26.04 33.15 23.59 25.92 24.82 23.60 23.68 18.44
Micron Technology Inc. 145.72 43.16 8.72 6.62 5.97 9.80 14.54 13.38 21.84 32.41 28.88 21.80 25.33 21.69 17.42 7.98
NVIDIA Corp. 66.31 56.68 65.31 112.05 200.72 131.70 63.65 48.55 49.72 68.08 97.36 73.53 73.45 78.54 86.91 88.41 65.08 67.59 53.31 33.05 29.68 22.77
Qualcomm Inc. 18.95 23.14 21.84 21.35 17.07 16.75 11.92 12.87 9.75 13.40 13.56 21.24 17.15 17.46 19.20 27.40 28.06 38.25 21.95 24.49 22.03
Texas Instruments Inc. 37.07 34.08 26.94 22.24 18.13 20.79 18.08 18.88 16.05 18.27 19.01 20.38 23.61 25.25 27.20 27.95 26.95 24.04 20.66 24.47

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).

1 Data adjusted for splits and stock dividends.

2 Q1 2025 Calculation
EPS = (Net incomeQ1 2025 + Net incomeQ4 2024 + Net incomeQ3 2024 + Net incomeQ2 2024) ÷ No. shares of common stock outstanding
= (1,116,444,000 + 1,020,282,000 + 965,826,000 + 954,266,000) ÷ 1,286,685,000 = 3.15

3 Closing price as at the filing date of Lam Research Corp. Quarterly or Annual Report.

4 Q1 2025 Calculation
P/E ratio = Share price ÷ EPS
= 75.45 ÷ 3.15 = 23.93

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Lam Research Corp. P/E ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Price to Operating Profit (P/OP)

Lam Research Corp., historical P/OP calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,286,685,000 1,298,760,000 1,307,410,000 1,311,030,000 1,317,920,000 1,325,117,010 1,343,404,740 1,349,362,090 1,363,793,360 1,369,877,920 1,387,150,270 1,395,001,430 1,407,986,970 1,419,536,810 1,426,193,460 1,429,083,150 1,440,092,200 1,456,252,250 1,451,622,290 1,455,484,700 1,450,788,880 1,445,329,980 1,499,265,290 1,525,934,540 1,551,828,060
Selected Financial Data (US$)
Operating income (in thousands) 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
Operating profit per share2 3.50 3.28 3.05 2.96 3.41 3.91 4.32 4.48 4.18 3.93 3.76 3.74 3.48 3.16 2.75 2.39 2.15 1.84 1.75 1.65 1.66 1.71 0.00 0.00 0.00
Share price1, 3 75.45 79.73 92.88 84.58 59.96 65.58 51.44 47.86 37.40 46.30 45.72 58.95 54.89 57.90 63.81 51.61 34.38 37.46 26.19 32.54 27.65 20.68 20.74 17.09 14.64
Valuation Ratio
P/OP ratio4 21.55 24.29 30.42 28.60 17.56 16.79 11.92 10.68 8.94 11.79 12.15 15.75 15.79 18.34 23.20 21.56 15.98 20.40 15.00 19.68 16.64 12.13
Benchmarks
P/OP Ratio, Competitors5
Advanced Micro Devices Inc. 175.89 268.47 400.66 675.69 782.37 100.42 36.08 43.60 40.92 39.48 49.04 47.29 55.06 75.77 80.11 101.06 81.62 91.66
Analog Devices Inc. 53.84 46.99 29.30 23.53 20.61 20.41 24.53 26.16 38.46 41.74 55.30 56.12 29.71 30.29 34.90 33.76 31.72 30.10 29.85 24.74 21.27 19.35 20.36
Applied Materials Inc. 21.18 23.58 22.03 17.58 15.53 14.65 12.26 11.35 11.57 12.68 15.55 18.85 19.43 23.98 22.70 18.50 14.76 13.85 17.50 16.36 12.41 9.45 8.18
Broadcom Inc. 56.53 59.46 41.23 31.96 22.57 20.66 17.32 16.33 16.17 20.04 24.51 30.78 27.21 30.43 35.86 44.04 41.08 35.53 25.99 36.85 28.49 23.44 24.21
First Solar Inc. 16.01 17.55 17.56 18.07 36.80 293.92 441.71 73.73 33.98 28.14 13.70 26.24 14.57 14.32 27.05 69.71
Intel Corp. 275.84 1,984.43 49.91 14.19 10.76 8.87 10.06 9.88 10.65 11.76 9.72 8.03 8.28 10.08 13.29
KLA Corp. 24.98 28.26 29.78 24.43 16.45 16.99 12.79 13.23 11.55 15.36 14.02 17.40 19.37 21.69 21.76 26.27 18.82 20.99 19.27 19.38 19.67 15.60
Micron Technology Inc. 86.94 34.54 7.86 5.93 5.31 8.90 13.31 12.48 20.11 29.00 25.85 19.51 22.93 19.03 14.79 6.83
NVIDIA Corp. 59.17 51.16 59.84 107.15 213.98 136.19 63.84 46.92 47.25 66.12 93.15 71.25 70.98 75.08 82.82 84.54 62.35 66.40 59.78 39.73 34.07 24.79
Qualcomm Inc. 19.08 22.65 21.54 20.09 15.85 14.36 9.90 10.47 7.95 11.41 11.80 19.06 15.84 15.54 17.26 23.79 23.32 29.96 11.05 13.01 12.60
Texas Instruments Inc. 32.74 30.38 23.82 19.75 16.15 18.24 15.69 16.29 13.69 15.53 16.30 17.67 20.89 22.42 25.48 26.53 25.17 22.86 18.39 21.46

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).

1 Data adjusted for splits and stock dividends.

2 Q1 2025 Calculation
Operating profit per share = (Operating incomeQ1 2025 + Operating incomeQ4 2024 + Operating incomeQ3 2024 + Operating incomeQ2 2024) ÷ No. shares of common stock outstanding
= (1,264,197,000 + 1,126,560,000 + 1,057,112,000 + 1,057,212,000) ÷ 1,286,685,000 = 3.50

3 Closing price as at the filing date of Lam Research Corp. Quarterly or Annual Report.

4 Q1 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 75.45 ÷ 3.50 = 21.55

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Lam Research Corp. P/OP ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Price to Sales (P/S)

Lam Research Corp., historical P/S calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,286,685,000 1,298,760,000 1,307,410,000 1,311,030,000 1,317,920,000 1,325,117,010 1,343,404,740 1,349,362,090 1,363,793,360 1,369,877,920 1,387,150,270 1,395,001,430 1,407,986,970 1,419,536,810 1,426,193,460 1,429,083,150 1,440,092,200 1,456,252,250 1,451,622,290 1,455,484,700 1,450,788,880 1,445,329,980 1,499,265,290 1,525,934,540 1,551,828,060
Selected Financial Data (US$)
Revenue (in thousands) 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
Sales per share2 12.12 11.48 10.89 10.92 12.02 13.15 14.04 14.12 13.20 12.58 12.07 11.85 11.19 10.30 9.31 8.35 7.68 6.90 6.62 6.56 6.54 6.68 0.00 0.00 0.00
Share price1, 3 75.45 79.73 92.88 84.58 59.96 65.58 51.44 47.86 37.40 46.30 45.72 58.95 54.89 57.90 63.81 51.61 34.38 37.46 26.19 32.54 27.65 20.68 20.74 17.09 14.64
Valuation Ratio
P/S ratio4 6.23 6.95 8.53 7.75 4.99 4.99 3.66 3.39 2.83 3.68 3.79 4.98 4.91 5.62 6.86 6.18 4.48 5.43 3.95 4.96 4.23 3.10
Benchmarks
P/S Ratio, Competitors5
Advanced Micro Devices Inc. 9.93 10.05 10.23 11.95 7.89 8.08 5.70 5.38 4.14 7.34 8.54 8.76 9.94 8.90 8.94 10.63 10.63 11.68 8.67 8.59
Analog Devices Inc. 11.64 11.39 8.30 7.31 6.89 6.75 7.89 7.14 7.88 8.52 10.43 12.98 9.38 9.11 10.06 9.03 7.90 7.61 7.93 7.06 6.53 6.01 6.32
Applied Materials Inc. 6.15 6.81 6.36 5.08 4.49 4.29 3.63 3.43 3.59 4.03 4.88 5.63 5.53 6.35 5.74 4.69 3.58 3.27 4.06 3.75 2.92 2.37 2.19
Broadcom Inc. 15.79 18.34 15.05 14.46 10.15 9.33 7.66 7.00 6.54 7.49 8.42 9.55 7.66 7.56 7.46 7.40 6.27 5.28 4.13 5.62 5.17 4.85 5.39
First Solar Inc. 5.55 6.00 5.33 4.67 4.81 7.10 7.66 6.88 5.60 4.26 3.13 2.75 4.71 3.08 2.73 3.17 2.82 2.48 1.53 1.74
Intel Corp. 1.84 1.67 2.46 3.40 2.83 2.85 2.30 1.85 1.73 2.03 2.29 2.48 2.56 2.77 3.08 2.96 2.53 2.73 3.31 4.07
KLA Corp. 8.69 9.64 9.91 8.38 6.12 6.47 4.99 5.28 4.62 6.09 5.51 6.77 7.22 7.80 7.49 7.46 5.13 5.43 4.53 5.09 5.46 4.74
Micron Technology Inc. 4.51 6.86 6.64 5.83 4.94 3.88 3.02 1.99 1.87 1.83 2.84 3.62 2.83 3.54 4.41 3.93 2.73 2.83 2.54 2.96 2.15
NVIDIA Corp. 35.41 27.69 27.49 35.40 37.18 21.33 13.27 12.64 15.92 24.67 32.92 23.77 20.32 20.41 22.50 22.93 18.34 17.31 12.83 8.90 9.10 8.05
Qualcomm Inc. 4.93 5.40 5.03 4.57 3.45 3.74 3.06 3.53 2.85 4.09 3.85 5.89 4.62 4.93 5.24 6.91 6.20 5.25 3.59 4.24 3.98
Texas Instruments Inc. 11.71 11.25 9.47 8.26 7.11 8.49 7.65 8.25 7.10 8.00 8.24 8.63 9.82 10.13 10.89 10.81 9.77 8.87 7.28 8.54

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).

1 Data adjusted for splits and stock dividends.

2 Q1 2025 Calculation
Sales per share = (RevenueQ1 2025 + RevenueQ4 2024 + RevenueQ3 2024 + RevenueQ2 2024) ÷ No. shares of common stock outstanding
= (4,167,976,000 + 3,871,507,000 + 3,793,558,000 + 3,758,259,000) ÷ 1,286,685,000 = 12.12

3 Closing price as at the filing date of Lam Research Corp. Quarterly or Annual Report.

4 Q1 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 75.45 ÷ 12.12 = 6.23

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Lam Research Corp. P/S ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.

Price to Book Value (P/BV)

Lam Research Corp., historical P/BV calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,286,685,000 1,298,760,000 1,307,410,000 1,311,030,000 1,317,920,000 1,325,117,010 1,343,404,740 1,349,362,090 1,363,793,360 1,369,877,920 1,387,150,270 1,395,001,430 1,407,986,970 1,419,536,810 1,426,193,460 1,429,083,150 1,440,092,200 1,456,252,250 1,451,622,290 1,455,484,700 1,450,788,880 1,445,329,980 1,499,265,290 1,525,934,540 1,551,828,060
Selected Financial Data (US$)
Stockholders’ equity (in thousands) 8,471,891 8,539,454 8,022,101 8,222,478 8,047,330 8,210,172 8,407,388 8,304,635 7,412,567 6,278,366 6,026,490 6,475,781 5,820,043 6,027,188 5,371,616 5,503,033 5,419,185 5,172,494 4,537,607 4,379,429 4,936,393 4,673,865 5,291,196 5,784,363 5,322,825
Book value per share (BVPS)2 6.58 6.58 6.14 6.27 6.11 6.20 6.26 6.15 5.44 4.58 4.34 4.64 4.13 4.25 3.77 3.85 3.76 3.55 3.13 3.01 3.40 3.23 3.53 3.79 3.43
Share price1, 3 75.45 79.73 92.88 84.58 59.96 65.58 51.44 47.86 37.40 46.30 45.72 58.95 54.89 57.90 63.81 51.61 34.38 37.46 26.19 32.54 27.65 20.68 20.74 17.09 14.64
Valuation Ratio
P/BV ratio4 11.46 12.13 15.14 13.49 9.82 10.58 8.22 7.78 6.88 10.10 10.52 12.70 13.28 13.64 16.94 13.40 9.14 10.55 8.38 10.81 8.13 6.40 5.88 4.51 4.27
Benchmarks
P/BV Ratio, Competitors5
Advanced Micro Devices Inc. 4.23 4.14 4.15 4.85 3.18 3.20 2.40 2.32 1.73 2.87 2.91 19.21 20.69 16.81 15.76 17.77 23.76 27.03 20.69 20.46 16.96 17.39 16.22
Analog Devices Inc. 3.21 3.38 2.70 2.53 2.46 2.41 2.72 2.35 2.39 2.24 2.35 2.50 4.98 4.64 4.88 4.22 3.70 3.64 3.90 3.61 3.40 3.19 3.40
Applied Materials Inc. 8.76 9.92 9.67 8.23 7.90 8.09 7.11 7.25 7.48 8.65 9.91 10.60 9.92 10.50 9.11 7.63 6.09 5.59 7.04 6.67 5.35 4.56 4.49
Broadcom Inc. 11.26 11.17 8.32 21.59 16.31 14.86 11.31 10.23 9.93 10.71 10.45 10.50 8.35 8.07 7.68 7.40 6.18 5.04 3.84 5.09 5.36 4.77 4.95
First Solar Inc. 2.82 3.11 2.75 2.32 2.41 3.52 3.66 3.09 2.43 1.79 1.32 1.35 2.12 1.58 1.43 1.56 1.83 1.48 0.90 1.05 1.07 1.37 1.27
Intel Corp. 1.01 0.80 1.28 1.75 1.47 1.53 1.32 1.15 1.20 1.47 1.73 2.05 2.23 2.52 3.00 2.84 2.65 2.62 3.29 3.78 3.31 3.05 3.19
KLA Corp. 25.03 28.07 30.73 26.63 20.82 23.25 19.77 21.24 21.67 40.05 11.68 13.65 13.95 15.98 15.52 15.44 11.09 11.83 11.01 10.06 10.02 8.15 6.50 9.57 8.94
Micron Technology Inc. 2.51 3.32 2.77 2.20 1.74 1.55 1.47 1.09 1.15 1.20 1.85 2.33 1.79 2.13 2.55 2.17 1.50 1.51 1.35 1.68 1.40 1.16 1.41 1.04
NVIDIA Corp. 57.48 39.25 37.08 42.07 39.24 26.03 17.76 15.75 17.87 24.95 33.57 24.61 20.84 20.14 21.69 21.53 16.49 15.49 11.46 8.77 10.07 10.09 13.03 17.81 19.10
Qualcomm Inc. 7.31 8.17 7.48 7.19 5.72 6.98 6.38 8.05 7.00 10.74 11.35 18.72 15.59 19.65 20.75 24.98 24.00 31.75 29.17 23.03 19.69 16.28 27.16 16.79
Texas Instruments Inc. 10.66 10.52 9.37 8.57 7.74 10.03 9.79 11.33 9.88 11.12 11.14 11.87 14.22 15.22 16.52 17.02 16.11 15.88 13.29 13.79 12.28 13.75 12.98

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).

1 Data adjusted for splits and stock dividends.

2 Q1 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 8,471,891,000 ÷ 1,286,685,000 = 6.58

3 Closing price as at the filing date of Lam Research Corp. Quarterly or Annual Report.

4 Q1 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 75.45 ÷ 6.58 = 11.46

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Lam Research Corp. P/BV ratio decreased from Q3 2024 to Q4 2024 and from Q4 2024 to Q1 2025.