Form 10-K · Annual report
Lam Research 10-K, filed Aug 7, 2026
- Filed
- CIK
- 0000707549
- Accession no.
- 0000707549-26-000037
Summary
Lam Research reported fiscal 2026 revenue of $23.23 billion, up 26% from $18.44 billion a year earlier, with net income of $7.27 billion and diluted earnings per share of $5.76, which the company attributed to strong customer demand for semiconductor equipment, particularly from foundry customers. Lam said AI, cloud, and other demand is driving industry spending, while trade restrictions and tariffs have had and may continue to have a negative impact on revenue and operating margin.
Key points
- Fiscal 2026 gross margin was 50.5% of revenue, up 180 basis points from 48.7%, largely on favorable customer mix and partly offset by aluminum and steel tariff-related spend.
- Foundry accounted for 54% of leading- and non-leading-edge equipment and upgrade revenue, up from 45%, while memory fell to 39% from 42%.
- China was the largest geographic market at 34% of revenue, followed by Taiwan at 22% and Korea at 19%.
- Cash and cash equivalents and restricted cash totaled about $5.60 billion at June 28, 2026, down from $6.41 billion a year earlier, and the company spent $3.85 billion on treasury stock purchases and $1.27 billion on dividends.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 7. Management’s Discussion Executive Summary Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. We have built a strong global presence with core competencies in areas like nanoscale manufacturing enablement, chemistry, plasma and fluidics, advanced systems engineering and a broad range of operational disciplines. Our products and services are designed to help our customers build smaller and better performing devices that are used in a variety of electronic products, including mobile phones, personal computers, cloud and enterprise servers, wearables, automotive vehicles, and data storage devices. …
An excerpt of the text as filed with the SEC, cut for length.
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