KLA vs Lam Research
Lam Research is the larger business, with $23.23bn of revenue in fiscal 2026 against $13.58bn for KLA (1.7 times as much). Lam Research grew faster (26.0% against 11.7%). KLA kept more of each dollar of sales as profit: a net margin of 35.6% against 31.3%. Lam Research carries less debt relative to equity (30.1% against 93.7%).
| Latest fiscal year | KLAKLAC, 2026 | Lam ResearchLRCX, 2026 |
|---|---|---|
| Revenue | $13.58bn | $23.23bn |
| Revenue growth | 11.7% | 26.0% |
| Net income | $4.83bn | $7.27bn |
| Operating margin | — | 35.3% |
| Net margin | 35.6% | 31.3% |
| Return on equity | 87.5% | 65.1% |
| Free cash flow | $3.77bn | $4.89bn |
| Cash | $1.65bn | $5.58bn |
| Total debt | $5.95bn | $3.75bn |
| Debt to equity | 93.7% | 30.1% |
| Dividend per share | $0.80 | $1.04 |
| Dividend yield | 0.6% | 0.5% |
| Share buybacks | $2.29bn | $3.85bn |
| Employees | 17,000 | 23,300 |
| Market value | $203.15bn | $287.06bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 99 (Strong) | 95 (Strong) |
| Insider trades, 12 months | 0 buys, 22 sales | 0 buys, 67 sales |