Filing Flows › LAM Research (LRCX) › Q4 FY25
LAM Research (LRCX) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Aug 11, 2025
LAM Research (LRCX) reported revenue of $5.2B for the fourth quarter fiscal 2025 (Q4 FY25), +34% from a year earlier and +10% from the quarter before. Operating margin was 33.7%, net earnings $1.7B (33.3% of revenue).
LAM Research, Q4 FY25: revenue $5.2B (+34% year over year), operating margin 33.7%, net earnings $1.7B, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.2B | +10% | +34% |
| Gross profit | $2.6B | +12% | +41% |
| Operating profit | $1.7B | +11% | +55% |
| Net earnings | $1.7B | +29% | +69% |
| Operating cash flow | $2.6B | +95% | +196% |
| Free cash flow | $2.4B | +133% | +213% |
What changed
Revenue was $5.2B in Q4 FY25, up 34% year over year and up 10% from the previous quarter. Systems Revenue was the largest line at 66% of revenue.
Gross margin was 50.1%, up 2.5 points from a year earlier. Operating profit was $1.7B, a 33.7% margin (up 4.6 points year over year). Of the extra revenue versus a year earlier, 47% reached operating profit, above the 29% margin then. Operating expenses grew 19% against revenue growth of 34%. The fastest-growing cost line was SG&A (+24%). Net earnings were $1.7B, up 69% year over year. The effective tax rate was 3.3%.
Operating cash flow was $2.6B (up 196% year over year), 148% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.09B of share-based compensation. Working capital and other items added $0.64B. Capital expenditures of $0.17B left free cash flow of $2.4B.
Questions
What was LAM Research's revenue in the fourth quarter fiscal 2025?
LAM Research (LRCX) reported revenue of $5.2B for the fourth quarter fiscal 2025 (Q4 FY25), +34% from a year earlier and +10% from the quarter before.
Was LAM Research profitable in the fourth quarter fiscal 2025?
Operating profit was $1.7B (33.7% of revenue) and net earnings $1.7B.
Source: LAM Research 10-K on SEC EDGAR.