Lam Research Corporation reported significant financial growth for the fiscal year ending June 28, 2026, with total revenue reaching $23.23 billion, a 26% increase from $18.44 billion in the previous fiscal year. The company's net income also rose to $7.27 billion, up from $5.36 billion, resulting in a diluted earnings per share of $5.76, compared to $4.15 in the prior year. The gross margin improved to 50.5%, up from 48.7%, primarily due to a favorable customer mix, despite challenges posed by tariffs on aluminum and steel.
The fiscal year 2026 saw a notable increase in systems revenue, which rose by 29.5% to $14.89 billion, driven largely by demand from the foundry market. Customer support-related revenue also grew by 20.2% to $8.35 billion, reflecting increased spending on spares and non-leading-edge equipment. The company’s deferred revenue decreased to $2.43 billion, down from $2.68 billion, indicating a reduction in customer down payments.
Strategically, Lam Research has focused on enhancing its product offerings and expanding its market presence. The company has made substantial investments in research and development, totaling $2.38 billion, which represents 10.2% of total revenue. This investment is aimed at advancing technologies in deposition, etch, and clean processes, particularly in response to the growing demand for semiconductor devices driven by artificial intelligence and other high-performance applications. The company also reported an employee headcount of approximately 23,300, with over 26% engaged in R&D.
Geographically, Lam Research's revenue distribution remained stable, with China accounting for 34% of total revenue, followed by Taiwan at 22% and Korea at 19%. The company continues to face challenges related to international trade regulations, particularly with respect to export controls affecting sales to China. Looking ahead, Lam Research anticipates continued growth in the semiconductor capital equipment market, driven by technological advancements and increased investments in wafer fabrication capacity, particularly in the AI sector. The company remains committed to returning value to shareholders through dividends and share repurchases, having repurchased $3.85 billion in stock during the fiscal year.
About LAM RESEARCH CORP
Lam Research Corporation is a global provider of wafer fabrication equipment and services for the semiconductor industry. It specializes in process technologies such as deposition, etch, and clean, supporting the manufacturing of advanced chips used in electronics, data storage, and automotive markets. The company focuses on innovation, customer support, and operational excellence to enable semiconductor device scaling and performance improvements.
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