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LAM Research vs ACM Research: LRCX and ACMR compared
LAM Research is the larger company: $8.2B of revenue in its latest quarter (Q1 FY27) against $368M for ACM Research (Q3 2026). LAM Research is growing faster (+54% against +37% a year earlier). LAM Research is more profitable, with an operating margin of 40.0% against 15.1%.
Where the money goes: LRCX and ACMR
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.
ACM Research (ACMR) · Q3 2026
ACM Research, Q3 2026: revenue $368M (+37% year over year), operating margin 15.1%, net earnings $1.5M, operating cash flow −$70.4M. The chart follows the revenue to costs, profit and cash.
| LAM Research (LRCX) | ACM Research (ACMR) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q3 2026 |
| Revenue | $8.2B | $368M |
| Revenue growth, Y/Y | +54% | +37% |
| Gross margin | 52.3% | 41.5% |
| Operating margin | 40.0% | 15.1% |
| Net earnings | $2.8B | $1.5M |
| Net margin | 33.5% | 0.4% |
| Operating cash flow | $3.5B | −$70.4M |
| Free cash flow | $3.2B | — |
| Market value | $232.6B | $3.3B |
| P/E | 27.6× | 19.4× |
| Analysts’ mean target | $364.03 | $115.33 |
Where the revenue comes from
LAM Research
- Systems revenue: $5.7B (70%)
- Customer support-related revenue and other: $2.5B (30%)
ACM Research
- Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment: $211M (57%)
- ECP (front-end and packaging), Furnace and Other Technologies: $109M (30%)
- Advanced Packaging (excluding ECP), Services & Spares: $47.5M (13%)
Questions
Which is bigger, LAM Research or ACM Research?
LAM Research is the larger company: $8.2B of revenue in its latest quarter (Q1 FY27) against $368M for ACM Research (Q3 2026).
Is LAM Research or ACM Research growing faster?
LAM Research is growing faster (+54% against +37% a year earlier).
Which is more profitable, LAM Research or ACM Research?
LAM Research is more profitable, with an operating margin of 40.0% against 15.1%.
More: LAM Research earnings · how LAM Research makes money · ACM Research earnings · how ACM Research makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 22, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.