Lam Research (LRCX) FY2022 results: revenue $17.2 billion, up 17.8% on the year
Lam Research Corp. (LRCX) reported revenue of $17.2 billion for fiscal 2022, the year ended 26 June 2022, up 17.8% on the year before. Net income was $4.6 billion, up 17.8%, and diluted earnings per share $3.27. The figures are the company's own, from the 10-K it filed with the SEC on 24 August 2022.
Revenue
$17.2 billion
+17.8% on the year
FY2015FY2022
Operating margin
31.2%
30.6% a year earlier
FY2015FY2022
Net income
$4.6 billion
+17.8% on the year
FY2015FY2022
Diluted EPS
$3.27
+21.7% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
3,100
3,588
2,126
-13.6%
Capital expenditure
546
349
203
+56.4%
Free cash flow
2,554
3,239
1,923
-21.2%
Free cash flow margin
14.8%
22.1%
19.1%
Cash from investing
612
73.3
-244
+735.6%
Cash from financing
-4,579
-4,167
-624
Depreciation and amortisation
334
307
269
+8.7%
Share-based compensation
259
220
189
+17.7%
Buybacks
3,866
2,698
1,370
+43.3%
Dividends paid
815
727
657
+12.1%
Dividend per share
$0.60
$0.52
$0.46
+15.4%
Diluted shares, weighted
1,406m
1,453m
1,491m
-3.2%
Shares outstanding at period end
1,370m
1,425m
1,453m
-3.9%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
6,278
6,027
5,172
+4.2%
Redeemable equity
n/a
0.0
11.0
Debt
4,962
4,961
5,795
+0.0%
Operating lease liabilities
165
118
124
+39.0%
Finance lease liabilities
36.0
29.4
11.5
+22.4%
Other liabilities
5,754
4,756
3,445
+21.0%
Total liabilities and equity
17,196
15,892
14,559
+8.2%
Fixed assets
1,605
1,259
1,053
+27.5%
Goodwill
1,515
1,490
1,484
+1.7%
Intangible assets
102
132
169
-23.1%
Cash and equivalents
3,522
4,418
4,915
-20.3%
Receivables
4,314
3,026
2,097
+42.5%
Inventory
3,966
2,689
1,900
+47.5%
Other assets
2,171
2,876
2,941
-24.5%
Total assets
17,196
15,892
14,559
+8.2%
10-K for the year ended 26 June 2022, filed 24 August 2022: the filing.