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LAM Research vs Axcelis Technologies: LRCX and ACLS compared
LAM Research is the larger company: $8.2B of revenue in its latest quarter (Q1 FY27) against $238M for Axcelis Technologies (Q3 2026). LAM Research is growing faster (+54% against +11% a year earlier). LAM Research is more profitable, with an operating margin of 40.0% against 11.5%.
Where the money goes: LRCX and ACLS
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.
Axcelis Technologies (ACLS) · Q3 2026
Axcelis Technologies, Q3 2026: revenue $238M (+11% year over year), operating margin 11.5%, net earnings $37.8M, operating cash flow $40.2M. The chart follows the revenue to costs, profit and cash.
| LAM Research (LRCX) | Axcelis Technologies (ACLS) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q3 2026 |
| Revenue | $8.2B | $238M |
| Revenue growth, Y/Y | +54% | +11% |
| Gross margin | 52.3% | 41.0% |
| Operating margin | 40.0% | 11.5% |
| Net earnings | $2.8B | $37.8M |
| Net margin | 33.5% | 15.9% |
| Operating cash flow | $3.5B | $40.2M |
| Free cash flow | $3.2B | $37.7M |
| Market value | $232.6B | $3.6B |
| P/E | 27.6× | 38.6× |
| Analysts’ mean target | $364.03 | $132.00 |
Where the revenue comes from
LAM Research
- Systems revenue: $5.7B (70%)
- Customer support-related revenue and other: $2.5B (30%)
Axcelis Technologies
- Systems: $145M (61%)
- Aftermarket: $92.6M (39%)
Questions
Which is bigger, LAM Research or Axcelis Technologies?
LAM Research is the larger company: $8.2B of revenue in its latest quarter (Q1 FY27) against $238M for Axcelis Technologies (Q3 2026).
Is LAM Research or Axcelis Technologies growing faster?
LAM Research is growing faster (+54% against +11% a year earlier).
Which is more profitable, LAM Research or Axcelis Technologies?
LAM Research is more profitable, with an operating margin of 40.0% against 11.5%.
More: LAM Research earnings · how LAM Research makes money · Axcelis Technologies earnings · how Axcelis Technologies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 22, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.