Filing Flows › LAM Research (LRCX) › Q4 FY26 › vs Q4 FY25
LAM Research (LRCX) Q4 FY26 vs Q4 FY25 (year over year)
LAM Research's revenue rose $1.6B (+30%) from $5.2B in Q4 FY25 to $6.7B in Q4 FY26. Gross margin 51.7% against 50.1% (+1.7 pts).
LAM Research, Q4 FY26: revenue $6.7B (+30% year over year), operating margin 37.4%, net earnings $2.3B, operating cash flow $1.5B. The chart draws each line against Q4 FY25, the increases inside each band.
Margins
| Q4 FY26 | Q4 FY25 | Change | |
|---|---|---|---|
| Gross margin | 51.7% | 50.1% | +1.7 pts |
| Operating margin | 37.4% | 33.7% | +3.7 pts |
| Net margin | 33.9% | 33.3% | +0.6 pts |
| Free cash flow margin | 18.9% | 46.1% | -27.2 pts |
Every line
| Line | Q4 FY26 | Q4 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $6.7B | $5.2B | $1.6B | +30% |
| Gross profit | $3.5B | $2.6B | $889M | +34% |
| Cost of revenue | $3.2B | $2.6B | $662M | +26% |
| Other income, net | $41.7M | $37.9M | $3.8M | +10% |
| Operating profit | $2.5B | $1.7B | $772M | +44% |
| Operating expenses | $965M | $849M | $117M | +14% |
| Pre-tax earnings | $2.6B | $1.8B | $776M | +44% |
| Research & development | $643M | $580M | $62.7M | +11% |
| SG&A | $322M | $268M | $53.9M | +20% |
| Net earnings | $2.3B | $1.7B | $557M | +32% |
| Income tax | $278M | $58.9M | $219M | +372% |
| Depreciation & amortization | $120M | $98.4M | $21.2M | +22% |
| Share-based compensation | $104M | $94.3M | $9.7M | +10% |
| Working capital & other | $1.0B | −$641M | $1.7B | — |
| Operating cash flow | $1.5B | $2.6B | −$1.1B | -43% |
| Free cash flow (OCF − capex) | $1.3B | $2.4B | −$1.1B | -47% |
| Capital expenditures | $189M | $172M | $16.6M | +10% |
Questions
How much did LAM Research's revenue grow year over year in Q4 FY26?
LAM Research's revenue rose $1.6B (+30%) from $5.2B in Q4 FY25 to $6.7B in Q4 FY26. Gross margin 51.7% against 50.1% (+1.7 pts).