Lam Research Corporation stock research
FY2026 Q3
Lam Research (LRCX) Gross Margin & Quarterly History
Explore Lam Research Corporation (LRCX) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 29, 2026 · FY2026 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved slightly versus both periods, reflecting a higher proportion of gross profit relative to revenue.
- The strongest observable driver is the increase in gross profit, which grew at a faster pace than cost of revenue, leading to a higher gross margin. This relationship is consistent across both sequential and year-over-year comparisons.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, and gross margin improved slightly. Versus the same quarter one year earlier, all three metrics were higher, with gross margin also showing improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
49.8%
Gross profit
$2.9B
Revenue
$5.8B
Cost of revenue
$2.9B
Quarter-over-quarter change
+0.2 pts
Year-over-year change
+0.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 29, 2025 | $5.2B | $2.6B | $2.6B | 50.1% |
| Sep 28, 2025 | $5.3B | $2.7B | $2.6B | 50.4% |
| Dec 28, 2025 | $5.3B | $2.7B | $2.7B | 49.6% |
| Mar 29, 2026 | $5.8B | $2.9B | $2.9B | 49.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 28, 2025
+0.2 pts
Year-over-year change
Mar 30, 2025
+0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable driver is the increase in gross profit, which grew at a faster pace than cost of revenue, leading to a higher gross margin. This relationship is consistent across both sequential and year-over-year comparisons.
Compared to the immediately preceding quarter, revenue and gross profit were higher, and gross margin improved slightly. Versus the same quarter one year earlier, all three metrics were higher, with gross margin also showing improvement.
Monitor the trend in cost of revenue relative to revenue, as its growth rate influences gross margin stability.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Lam Research Corporation (LRCX) | 49.8% |