Lam Research Corporation

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Operating Activities	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Net Income	5,810.4	5,358.2	3,827.8	4,510.9	4,605.3	3,908.5	2,251.8	2,191.4	2,380.7	1,697.8	914
Net Income
Depreciation & Amortization	393.6	386.3	359.7	342.4	333.7	307.2	268.5	309.3	326.4	306.9	291
Depreciation and Amortization
Stock Based Compensation	360.6	343.4	293.1	286.6	259.1	220.2	189.2	187.2	172.2	150	142.3
Equity-Based Compensation Expense
Other Adjustments	-312	-356.4	-188.7	-119.8	-302.2	-168.9	-11.1	-3.5	93.6	185.5	55.1
Deferred Income Taxes
Restructuring Charges, Net
Impairment of Long-Lived Assets
Income Tax Benefit on Equity-Based Compensation Plans
Excess Tax Benefits on Equity-Based Compensation Plans
Net Gain on Settlement of Call Option
Amortization of Convertible Note Discount
Impairment of Investments
Losses on Extinguishment of Debt, Net
Amortization of Note Discounts and Issuance Costs
Gain on Sale of Business
Gain on Sale of Assets, Net
Goodwill Impairment
Other, Net
Changes in Trade Receivables	—	-858.7	303.4	1,452.3	-1,287.7	-928.9	-641.8	732.1	-501.6	-411.3	-169
Accounts Receivable, Net of Allowance
Changes in Inventories	—	-180.7	528.7	-962	-1,351.3	-792.6	-411.6	281.4	-701	-307.9	-66.4
Inventories
Changes in Accounts Payable	—	212	125.9	-522.2	167.9	184.6	208.5	-131.5	35.7	126.8	41.6
Trade Accounts Payable
Changes in Accrued Expenses	—	328.3	-304.7	-108.8	123.5	409.3	211.2	-194.6	751.8	50.3	161.1
Accrued Expenses and Other Liabilities
Changes in Unearned Revenue	—	1,147.8	-277.4	163.5	604.6	508	76.2	-178.1	112.4	258.5	27.1
Deferred Profit
Changes in Other Operating Activities	131.1	-206.7	-15.5	136	-53.1	-59.2	-14.4	-17.9	-14.4	-27.3	-46.7
Change in Prepaid Expenses and Other Assets
Changes in Operating Assets and Liabilities
Cash from Operating Activities	6,383.8	6,173.3	4,652.3	5,178.9	3,099.7	3,588.2	2,126.5	3,176	2,655.7	2,029.3	1,350.3
Net Cash Provided by Operating Activities

Investing Activities	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Capital Expenditure	-833.7	-759.2	-396.7	-501.6	-546	-349.1	-203.2	-303.5	-273.5	-157.4	-175.3
Capital Expenditures and Intangible Assets
Proceeds from Sale of Property, Plant & Equipment	—	—	—	—	—	—	—	—	—	1.3	79.7
Proceeds from Sale of Assets
Purchases of Investments	—	—	—	—	-567.8	-3,389.4	-2,897.6	-2,930	-2,532.8	-4,581.9	-875
Purchases of Available-for-Sale Securities
Proceeds from Sale of Investments	—	—	37.8	98.1	1,733.7	3,853.9	2,882.6	1,603.8	5,685.7	2,698	1,673.8
Net Maturities and Sale of Available-for-Sale Securities
Proceeds from Maturities of Available-for-Sale Securities
Proceeds from Sales of Available-for-Sale Securities
Payments for Business Acquisitions	—	—	—	-120	—	—	—	—	-115.7	—	—
Business Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Sale of Business
Other Investing Activities	50.1	51.1	-11.7	-11.2	-7.6	-42.2	-25.8	-7.4	-15.2	-12.8	-110.7
Cash Acquired in Business Acquisition
Purchase of Call Option
Proceeds from Settlement of Call Option
Purchase of Equity Method and Other Investments
Repayment of Notes Receivable, Net
Purchase of Other Investments
Loans Made
Issuance of Notes Receivable
Sales of Other Investments
Transfer of Restricted Cash and Investments
Other, Net
Cash from Investing Activities	-783.6	-708.1	-370.6	-534.6	612.3	73.3	-244.1	-1,637.1	2,748.5	-2,052.8	592.5
Net Cash Provided by Investing Activities

Financing Activities	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Issuance of Short-Term Debt	—	—	—	—	—	—	1,250	—	750	—	—
Proceeds from Borrowings on Revolving Credit Facility
Repayments of Short-Term Debt	—	—	—	—	—	—	-1,250	—	-750	—	—
Repayment of Borrowings on Revolving Credit Facility
Issuance of Long-Term Debt	—	—	—	—	—	—	1,974.7	2,476.7	—	—	2,338.1
Proceeds from Issuance of Long-Term Debt, Net of Issuance Costs
Repayments of Long-Term Debt	-508	-507.5	-256.1	-23.2	-11.9	-862.1	-667.5	-117.7	-755.7	-1,688.3	-451.5
Principal Payments on Debt, Including Finance Lease Obligations and Payments for Debt Issuance Costs
Net Issuance / (Repayments) of Long-Term Debt	-508	-507.5	-256.1	-23.2	-11.9	-862.1	1,307.1	2,359.1	-755.7	-1,688.3	1,886.6
Issuance of Common Shares	2.5	142.6	135.5	121	113.9	121.9	93.5	84.8	84.9	72.6	59.4
Reissuance of Treasury Stock Related to Employee Stock Purchase Plan
Proceeds from Issuance of Common Stock, Net Issuance Costs
Repurchases of Common Shares	-3,401.1	-3,422.3	-2,842.8	-2,017	-3,865.7	-2,697.7	-1,369.6	-3,780.6	-2,653.2	-811.7	-158.4
Treasury Stock Purchases, Including Excise Tax Payments
Net Issuance / (Repurchases) of Common Shares	-3,398.6	-3,279.8	-2,707.3	-1,896	-3,751.8	-2,575.8	-1,276.1	-3,695.8	-2,568.4	-739.1	-99
Common Share Dividends Paid	-1,180.5	-1,149.5	-1,018.9	-907.9	-815.3	-727	-656.8	-678.3	-307.6	-243.5	-190.4
Dividends Paid
Other Financing Activities	-12	0.1	-13.5	-3.6	0	-2.1	1.9	-375	359.6	38.5	-1.5
Net Proceeds from Commercial Paper
Proceeds from Sale of Warrants
Purchase of Convertible Note Hedge
Excess Tax Benefit on Equity-Based Compensation Plans
Net Cash Received in Settlement of Stock Repurchase Contracts
Other, Net
Cash from Financing Activities	-4,959	-4,936.6	-3,995.9	-2,830.7	-4,578.9	-4,167	-623.9	-2,390.1	-3,272.1	-2,632.4	1,595.7
Net Cash Provided by Financing Activities

Free Cash Flow	LTM	Jun '25	Jun '24	Jun '23	Jun '22	Jun '21	Jun '20	Jun '19	Jun '18	Jun '17	Jun '16
Free Cash Flow	5,550	5,414.1	4,255.6	4,677.4	2,553.6	3,239.1	1,923.2	2,872.5	2,382.3	1,871.9	1,174.9
NOPAT	5,759.5	5,306.8	3,743.2	4,568.9	4,772.6	4,007.9	2,338.2	2,207.7	2,427.1	1,782.5	1,022.7
Levered Free Cash Flow	4,993.5	5,778.4	3,591.7	3,035.1	3,872.6	3,254.6	3,694.1	4,315.7	1,862.3	259.4	3,033.2
Unlevered Free Cash Flow	5,450.5	6,234.5	3,763.3	3,116.2	4,051.8	4,216.2	2,473.4	1,972.9	2,664.5	2,032.5	1,255.2
Net Change in Cash	641.2	528.5	285.8	1,813.7	-867	-505.5	1,258.4	-851.1	2,132.2	-2,655.9	3,538.5