Lam Research (LRCX) FY2024 results: revenue $14.9 billion, down 14.5% on the year
Lam Research Corp. (LRCX) reported revenue of $14.9 billion for fiscal 2024, the year ended 30 June 2024, down 14.5% on the year before. Net income was $3.8 billion, down 15.1%, and diluted earnings per share $2.90. The figures are the company's own, from the 10-K it filed with the SEC on 29 August 2024.
Revenue
$14.9 billion
-14.5% on the year
FY2017FY2024
Operating margin
28.6%
29.7% a year earlier
FY2017FY2024
Net income
$3.8 billion
-15.1% on the year
FY2017FY2024
Diluted EPS
$2.90
-12.7% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
4,652
5,179
3,100
-10.2%
Capital expenditure
397
502
546
-20.9%
Free cash flow
4,256
4,677
2,554
-9.0%
Free cash flow margin
28.6%
26.8%
14.8%
Cash from investing
-371
-535
612
Cash from financing
-3,996
-2,831
-4,579
Depreciation and amortisation
360
342
334
+5.0%
Share-based compensation
293
287
259
+2.3%
Buybacks
2,843
2,017
3,866
+40.9%
Dividends paid
1,019
908
815
+12.2%
Dividend per share
$0.80
$0.69
$0.60
+15.9%
Diluted shares, weighted
1,320m
1,358m
1,406m
-2.8%
Shares outstanding at period end
1,304m
1,333m
1,370m
-2.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
8,539
8,210
6,278
+4.0%
Debt
4,967
4,965
4,962
+0.0%
Operating lease liabilities
223
173
165
+29.1%
Finance lease liabilities
12.5
38.2
36.0
-67.4%
Other liabilities
5,002
5,395
5,754
-7.3%
Total liabilities and equity
18,745
18,782
17,196
-0.2%
Fixed assets
2,130
1,803
1,605
+18.1%
Goodwill
1,600
1,622
1,515
-1.4%
Intangible assets
139
168
102
-17.8%
Cash and equivalents
5,848
5,337
3,522
+9.6%
Receivables
2,519
2,823
4,314
-10.8%
Inventory
4,218
4,816
3,966
-12.4%
Other assets
2,291
2,211
2,171
+3.6%
Total assets
18,745
18,782
17,196
-0.2%
10-K for the year ended 30 June 2024, filed 29 August 2024: the filing.