Lam Research (LRCX) 10-K Summaries & Annual Filing History
Review Lam Research Corporation (LRCX) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Jun 29, 2025 · FY2025 10-K
Lam Research reported improved financial results for its latest annual period, with revenue increasing compared to the prior year. The company's business focuses on semiconductor wafer fabrication equipment and related services.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$18.4B
Revenue reported for the fiscal year.
Operating income
$5.9B
Income from operations reported for the year.
Net income
$5.4B
Net income reported for the year.
Operating cash flow
$6.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 26, 2022 | $17.2B | +17.8% |
| Jun 25, 2023 | $17.4B | +1.2% |
| Jun 30, 2024 | $14.9B | -14.5% |
| Jun 29, 2025 | $18.4B | +23.7% |
Business overview
The filing's Business overview section describes Lam Research's operations in the semiconductor capital equipment industry, including the design and manufacture of wafer processing equipment and provision of customer support services.
Financial performance
Revenue increased compared to the prior year, following a decline in a previous period. Operating income and net income also improved. Operating cash flow remained strong.
Material risks
The filing's Risk Factors section discusses material uncertainties such as the cyclical nature of the semiconductor industry, global trade dynamics, and technology evolution. These factors could adversely affect the company's operations and financial results.
Liquidity and capital
The Liquidity and Capital Resources section analyzes cash flows, indicating that operating cash flow supported the company's capital allocation activities.
What to watch
The next filing should reveal whether the recent revenue growth continues, given the historically cyclical demand for semiconductor equipment.