Filing Flows › LAM Research (LRCX) › Q1 FY27 › vs Q4 FY26
LAM Research (LRCX) Q1 FY27 vs Q4 FY26 (quarter over quarter)
LAM Research's revenue rose $1.5B (+22%) from $6.7B in Q4 FY26 to $8.2B in Q1 FY27. The biggest changes: Systems revenue +$1.5B (+35%); Customer support-related revenue and other +$14.1M (+0.6%). Gross margin 52.3% against 51.7% (+0.6 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 Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 52.3% | 51.7% | +0.6 pts |
| Operating margin | 40.0% | 37.4% | +2.6 pts |
| Net margin | 33.5% | 33.9% | -0.4 pts |
| Free cash flow margin | 39.4% | 18.9% | +20.5 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Systems revenue | $5.7B | $4.2B | $1.5B | +35% |
| Customer support-related revenue and other | $2.5B | $2.5B | $14.1M | +0.6% |
| Revenue | $8.2B | $6.7B | $1.5B | +22% |
| Gross profit | $4.3B | $3.5B | $820M | +24% |
| Cost of revenue | $3.9B | $3.2B | $677M | +21% |
| Other income, net | $28.5M | $41.7M | −$13.2M | -32% |
| Operating profit | $3.3B | $2.5B | $770M | +31% |
| Operating expenses | $1.0B | $965M | $49.9M | +5% |
| Pre-tax earnings | $3.3B | $2.6B | $757M | +30% |
| Research & development | $666M | $643M | $23.5M | +4% |
| SG&A | $349M | $322M | $26.4M | +8% |
| Net earnings | $2.8B | $2.3B | $476M | +21% |
| Income tax | $559M | $278M | $281M | +101% |
| Depreciation & amortization | $122M | $120M | $2.4M | +2% |
| Share-based compensation | $115M | $104M | $10.7M | +10% |
| Working capital & other | $508M | −$1.0B | $1.6B | — |
| Operating cash flow | $3.5B | $1.5B | $2.0B | +140% |
| Free cash flow (OCF − capex) | $3.2B | $1.3B | $2.0B | +155% |
| Capital expenditures | $258M | $189M | $68.9M | +36% |
Questions
How much did LAM Research's revenue grow quarter over quarter in Q1 FY27?
LAM Research's revenue rose $1.5B (+22%) from $6.7B in Q4 FY26 to $8.2B in Q1 FY27.
What drove LAM Research's revenue change in Q1 FY27?
Systems revenue +$1.5B (+35%); Customer support-related revenue and other +$14.1M (+0.6%).