Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products. It also provides SPEED gapfill high-density plasma chemical vapor deposition products; and Striker single-wafer atomic layer deposition products for dielectric film solutions. In addition, the company offers Flex for dielectric etch applications; Kiyo for conductor etch applications; Syndion for through-silicon via etch applications; and Versys metal products for metal etch processes. Further, it provides Coronus bevel clean products to enhance die yield; Da Vinci, DV-Prime, EOS, and SP series products to address various wafer cleaning applications; and Metryx mass metrology systems for high precision in-line mass measurement in semiconductor wafer manufacturing. The company sells its products and services to semiconductors industry in the United States, China, Europe, Japan, Korea, Southeast Asia, Taiwan, and internationally. Lam Research Corporation was incorporated in 1980 and is headquartered in Fremont, California.

Lam Research Corporation

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Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	9,891.6	8,544	7,665.1	7,240.3	7,076.8	10,351.7
Total Revenues %Chg	29%	18%	8.3%	-30.1%	-18.6%	21.3%
Revenue
Cost of Sales	4,988.2	4,468.4	4,024.4	3,828.2	4,013.1	5,638.5
Cost of Goods Sold
Restructuring Charges, Net - Cost of Goods Sold
Gross Profit	4,903.4	4,075.7	3,640.6	3,412.2	3,063.7	4,713.2
Gross Margin
Gross Profit Margin	49.6%	47.7%	47.5%	47.1%	43.3%	45.5%
Selling, General & Administrative Expenses	494.4	487.3	432.4	435.9	393.3	439.4
Selling, General, and Administrative
Research & Development Expenses	1,106.1	990.3	1,010.1	892.3	831.4	895.8
Research and Development
Other Operating Expenses	—	—	14.5	3.7	42.2	—
Restructuring Charges, Net - Operating Expenses
Operating Profit	3,302.9	2,598.1	2,183.7	2,080.2	1,796.9	3,378
Operating Income
Operating Margin	33.4%	30.4%	28.5%	28.7%	25.4%	32.6%
Non-Operating Income	12.8	44.3	63.9	32.4	5.7	-71.3
Other Income, Net
Total Non-Operating Income	12.8	44.3	63.9	32.4	5.7	-71.3
Income Before Provision for Income Taxes	3,315.7	2,642.4	2,247.5	2,112.7	1,802.5	3,306.7
Income Before Income Taxes
Provision for Income Taxes	265	335	261.4	271	186	412.3
Income Tax Expense
Consolidated Net Income	3,050.8	2,307.5	1,986.1	1,841.7	1,616.5	2,894.4
Net Income
Net Income Attributable to Common Shareholders	3,050.8	2,307.5	1,986.1	1,841.7	1,616.5	2,894.4
Net Income
Basic EPS	2.4	1.8	1.5	1.4	1.2	2.1
Diluted EPS	2.4	1.8	1.5	1.4	1.2	2.1
Basic Weighted Average Shares Outstanding	1,279	1,293.2	1,307.1	1,321.1	1,344.9	1,364.6
Total Shares Outstanding	1,268.7	1,285	1,303.8	1,312.8	1,333	1,354
Diluted Weighted Average Shares Outstanding	1,282.5	1,297.8	1,313	1,326.9	1,348.9	1,367.7
EBITDA	3,498.7	2,788.6	2,362	2,261.7	1,978.1	3,539.2
Effective Tax Rate	8%	12.7%	11.6%	12.8%	10.3%	12.5%