Filing Flows › LAM Research (LRCX) › Q1 FY27 › vs Q1 FY26
LAM Research (LRCX) Q1 FY27 vs Q1 FY26 (year over year)
LAM Research's revenue rose $2.9B (+54%) from $5.3B in Q1 FY26 to $8.2B in Q1 FY27. The biggest changes: Systems revenue +$2.2B (+62%); Customer support-related revenue and other +$710M (+40%). Gross margin 52.3% against 50.4% (+1.9 pts).
LAM Research, Q1 FY27: revenue $8.2B (+54% year over year), operating margin 40.0%, net earnings $2.8B, operating cash flow $3.5B. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 52.3% | 50.4% | +1.9 pts |
| Operating margin | 40.0% | 34.4% | +5.6 pts |
| Net margin | 33.5% | 29.5% | +4.0 pts |
| Free cash flow margin | 39.4% | 29.9% | +9.5 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Systems revenue | $5.7B | $3.5B | $2.2B | +62% |
| Customer support-related revenue and other | $2.5B | $1.8B | $710M | +40% |
| Revenue | $8.2B | $5.3B | $2.9B | +54% |
| Gross profit | $4.3B | $2.7B | $1.6B | +60% |
| Cost of revenue | $3.9B | $2.6B | $1.3B | +49% |
| Other income, net | $28.5M | $30.1M | −$1.6M | -5% |
| Operating profit | $3.3B | $1.8B | $1.5B | +80% |
| Operating expenses | $1.0B | $856M | $159M | +19% |
| Pre-tax earnings | $3.3B | $1.9B | $1.5B | +78% |
| Research & development | $666M | $576M | $90.0M | +16% |
| SG&A | $349M | $279M | $69.4M | +25% |
| Net earnings | $2.8B | $1.6B | $1.2B | +76% |
| Income tax | $559M | $291M | $269M | +92% |
| Depreciation & amortization | $122M | $102M | $20.4M | +20% |
| Share-based compensation | $115M | $97.2M | $17.5M | +18% |
| Working capital & other | $508M | $11.4M | $496M | 44× |
| Operating cash flow | $3.5B | $1.8B | $1.7B | +97% |
| Free cash flow (OCF − capex) | $3.2B | $1.6B | $1.6B | +103% |
| Capital expenditures | $258M | $185M | $72.6M | +39% |
Questions
How much did LAM Research's revenue grow year over year in Q1 FY27?
LAM Research's revenue rose $2.9B (+54%) from $5.3B in Q1 FY26 to $8.2B in Q1 FY27.
What drove LAM Research's revenue change in Q1 FY27?
Systems revenue +$2.2B (+62%); Customer support-related revenue and other +$710M (+40%).