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ASML Holding NV vs LAM Research: ASML and LRCX compared
ASML Holding NV is the larger company: $32.7B of revenue in its latest quarter (FY2025) against $8.2B for LAM Research (Q1 FY27). LAM Research is growing faster (+54% against +16% a year earlier). LAM Research is more profitable, with an operating margin of 40.0% against 34.6%.
Where the money goes: ASML and LRCX
ASML Holding NV (ASML) · FY2025
ASML Holding NV, FY2025: revenue $32.7B (+16% year over year), operating margin 34.6%, net earnings $9.6B, operating cash flow $12.7B. The chart follows the revenue to costs, profit and cash.
LAM Research (LRCX) · Q1 FY27
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 follows the revenue to costs, profit and cash.
| ASML Holding NV (ASML) | LAM Research (LRCX) | |
|---|---|---|
| Latest quarter | FY2025 | Q1 FY27 |
| Revenue | $32.7B | $8.2B |
| Revenue growth, Y/Y | +16% | +54% |
| Gross margin | 52.8% | 52.3% |
| Operating margin | 34.6% | 40.0% |
| Net earnings | $9.6B | $2.8B |
| Net margin | 29.4% | 33.5% |
| Operating cash flow | $12.7B | $3.5B |
| Free cash flow | $11.1B | $3.2B |
| Market value | — | $232.6B |
| P/E | — | 27.6× |
| Analysts’ mean target | — | $364.03 |
Where the revenue comes from
LAM Research
- Systems revenue: $5.7B (70%)
- Customer support-related revenue and other: $2.5B (30%)
Questions
Which is bigger, ASML Holding NV or LAM Research?
ASML Holding NV is the larger company: $32.7B of revenue in its latest quarter (FY2025) against $8.2B for LAM Research (Q1 FY27).
Is ASML Holding NV or LAM Research growing faster?
LAM Research is growing faster (+54% against +16% a year earlier).
Which is more profitable, ASML Holding NV or LAM Research?
LAM Research is more profitable, with an operating margin of 40.0% against 34.6%.
More: ASML Holding NV earnings · how ASML Holding NV makes money · LAM Research earnings · how LAM Research makes money
From the companies' latest 10-Q, 10-K or earnings release (20-F filed Feb 25, 2026; 10-Q filed Oct 22, 2026). Fiscal quarters can end on different dates. Not investment advice.