Lam Research income statement

In fiscal 2026, Lam Research reported revenue of $23.23bn, up 26.0% on the year before, operating income of $8.20bn (a 35.3% margin) and net income of $7.27bn, or $5.76 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Lam Research: income statement, annual
Fiscal year	2010Jun 2010	2011Jun 2011	2012Jun 2012	2013Jun 2013	2014Jun 2014	2015Jun 2015	2016Jun 2016	2017Jun 2017	2018Jun 2018	2019Jun 2019	2020Jun 2020	2021Jun 2021	2022Jun 2022	2023Jun 2023	2024Jun 2024	2025Jun 2025	2026Jun 2026	LTMSept 2026
Revenue	2.1	3.2	2.7	3.6	4.6	5.3	5.9	8.0	11.1	9.7	10.0	14.6	17.2	17.4	14.9	18.4	23.2	26.1
Cost of revenue	1.2	1.7	1.6	2.2	2.6	3.0	3.3	4.4	5.9	5.3	5.4	7.8	9.4	9.7	7.9	9.5	11.5	—
Gross profit	1.0	1.5	1.1	1.4	2.0	2.3	2.6	3.6	5.2	4.4	4.6	6.8	7.9	7.8	7.1	9.0	11.7	13.3
Research and development	0.3	0.4	0.4	0.7	0.7	0.8	0.9	1.0	1.2	1.2	1.3	1.5	1.6	1.7	1.9	2.1	2.4	2.5
Selling, general and administrative	0.2	0.3	0.4	0.6	0.6	0.6	0.6	0.7	0.8	0.7	0.7	0.8	0.9	0.8	0.9	1.0	1.1	1.2
Operating income	0.4	0.8	0.2	0.1	0.7	0.8	1.1	1.9	3.2	2.5	2.7	4.5	5.4	5.2	4.3	5.9	8.2	9.7
Interest expense	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2
Income before tax	0.4	0.8	0.2	0.1	0.7	0.7	1.0	1.8	3.2	2.4	2.6	4.4	5.2	5.1	4.4	6.0	8.3	9.7
Income tax	0.1	0.1	0.0	−0.0	0.1	0.1	0.0	0.1	0.8	0.3	0.3	0.5	0.6	0.6	0.5	0.6	1.0	1.3
Net income	0.3	0.7	0.2	0.1	0.6	0.7	0.9	1.7	2.4	2.2	2.3	3.9	4.6	4.5	3.8	5.4	7.3	8.4
Diluted EPS	$0.27	$0.58	$0.14	$0.07	$0.36	$0.37	$0.52	$0.92	$1.32	$1.37	$1.51	$2.69	$3.27	$3.32	$2.90	$4.15	$5.76	$6.72
Diluted shares (average)	1,281m	1,250m	1,252m	1,734m	1,745m	1,771m	1,752m	1,838m	1,808m	1,599m	1,491m	1,453m	1,406m	1,358m	1,320m	1,290m	1,261m	1,258m
EBITDA	0.5	0.9	0.3	0.4	1.0	1.1	1.4	2.2	3.5	2.8	2.9	4.8	5.7	5.5	4.6	6.3	8.6	10.1

US$ millions unless shown otherwise. Fiscal quarters.

Lam Research: income statement, quarterly
Quarter	2025 Q2Dec 2024	2025 Q3Mar 2025	2025 Q4Jun 2025	2026 Q1Sept 2025	2026 Q2Dec 2025	2026 Q3Mar 2026	2026 Q4Jun 2026	2027 Q1Sept 2026
Revenue	4,376	4,720	5,171	5,324	5,345	5,841	6,722	8,219
Cost of revenue	2,303	2,406	2,582	—	—	—	—	—
Gross profit	2,073	2,314	2,590	2,685	2,651	2,911	3,479	4,299
Research and development	495	526	580	576	573	583	643	666
Selling, general and administrative	244	226	268	279	268	280	322	349
Operating income	1,334	1,562	1,741	1,829	1,810	2,047	2,513	3,284
Interest expense	45	45	43	42	41	39	34	37
Income before tax	1,348	1,537	1,779	1,859	1,837	2,012	2,555	3,312
Income tax	157	206	59	291	243	186	278	559
Net income	1,191	1,331	1,720	1,569	1,594	1,825	2,277	2,753
Diluted EPS	$0.92	$1.03	$1.34	$1.24	$1.26	$1.45	$1.81	$2.19
EBITDA	1,430	1,659	1,840	1,931	1,914	2,163	2,633	3,406

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Lam Research's SEC filings (10-K and 10-Q), retrieved October 23, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Lam Research.