Filing Flows › LAM Research (LRCX) › Q4 FY26
LAM Research (LRCX) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Aug 7, 2026
LAM Research (LRCX) reported revenue of $6.7B for the fourth quarter fiscal 2026 (Q4 FY26), +30% from a year earlier and +15% from the quarter before. Operating margin was 37.4%, net earnings $2.3B (33.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.7B | +15% | +30% |
| Gross profit | $3.5B | +20% | +34% |
| Operating profit | $2.5B | +23% | +44% |
| Net earnings | $2.3B | +25% | +32% |
| Operating cash flow | $1.5B | +28% | -43% |
| Free cash flow | $1.3B | +57% | -47% |
What changed
Revenue was $6.7B in Q4 FY26, up 30% year over year and up 15% from the previous quarter. Systems Revenue was the largest line at 63% of revenue.
Gross margin was 51.7%, up 1.7 points from Q4 FY25. Operating profit was $2.5B, a 37.4% margin (up 3.7 points year over year). Of the extra revenue versus Q4 FY25, 50% reached operating profit, above the 34% margin then. Operating expenses grew 14% against revenue growth of 30%. The fastest-growing cost line was SG&A (+20%). Net earnings were $2.3B, up 32% year over year. The effective tax rate was 10.9%.
Operating cash flow was $1.5B (down 43% year over year), 64% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items used $1.0B. Capital expenditures of $0.19B left free cash flow of $1.3B.
Questions
What was LAM Research's revenue in the fourth quarter fiscal 2026?
LAM Research (LRCX) reported revenue of $6.7B for the fourth quarter fiscal 2026 (Q4 FY26), +30% from a year earlier and +15% from the quarter before.
Was LAM Research profitable in the fourth quarter fiscal 2026?
Operating profit was $2.5B (37.4% of revenue) and net earnings $2.3B.
Source: LAM Research 10-K on SEC EDGAR.