Lam Research (LRCX) FY2023 results: revenue $17.4 billion, up 1.2% on the year
Lam Research Corp. (LRCX) reported revenue of $17.4 billion for fiscal 2023, the year ended 25 June 2023, up 1.2% on the year before. Net income was $4.5 billion, down 2.0%, and diluted earnings per share $3.32. The figures are the company's own, from the 10-K it filed with the SEC on 15 August 2023.
Revenue
$17.4 billion
+1.2% on the year
FY2016FY2023
Operating margin
29.7%
31.2% a year earlier
FY2016FY2023
Net income
$4.5 billion
-2.0% on the year
FY2016FY2023
Diluted EPS
$3.32
+1.4% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
5,179
3,100
3,588
+67.1%
Capital expenditure
502
546
349
-8.1%
Free cash flow
4,677
2,554
3,239
+83.2%
Free cash flow margin
26.8%
14.8%
22.1%
Cash from investing
-535
612
73.3
Cash from financing
-2,831
-4,579
-4,167
Depreciation and amortisation
342
334
307
+2.6%
Share-based compensation
287
259
220
+10.6%
Buybacks
2,017
3,866
2,698
-47.8%
Dividends paid
908
815
727
+11.4%
Dividend per share
$0.69
$0.60
$0.52
+15.0%
Diluted shares, weighted
1,358m
1,406m
1,453m
-3.4%
Shares outstanding at period end
1,333m
1,370m
1,425m
-2.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
8,210
6,278
6,027
+30.8%
Redeemable equity
n/a
n/a
0.0
Debt
4,965
4,962
4,961
+0.1%
Operating lease liabilities
173
165
118
+5.0%
Finance lease liabilities
38.2
36.0
29.4
+6.2%
Other liabilities
5,395
5,754
4,756
-6.2%
Total liabilities and equity
18,782
17,196
15,892
+9.2%
Fixed assets
1,803
1,605
1,259
+12.3%
Goodwill
1,622
1,515
1,490
+7.1%
Intangible assets
168
102
132
+65.4%
Cash and equivalents
5,337
3,522
4,418
+51.5%
Receivables
2,823
4,314
3,026
-34.6%
Inventory
4,816
3,966
2,689
+21.4%
Other assets
2,211
2,171
2,876
+1.8%
Total assets
18,782
17,196
15,892
+9.2%
10-K for the year ended 25 June 2023, filed 15 August 2023: the filing.