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Sentiment · FY2026 Q4
As of FY2026 Q3, the Tellvest earnings-call sentiment score for Lam Research (LRCX) is 9/10.
Revenue surged 24% year-over-year with record diluted EPS of $1.47 above the high end of guidance, as accelerating AI demand drove broad-based strength across NAND, DRAM, and foundry/logic. WFE outlook was raised to $140 billion with upside bias and NAND conversion spending was pulled forward to 2027. Record CSBG revenue exceeded $2.1 billion while gross margin expansion exceeded the long-term model.
Scored from Lam Research’s FY2026 Q3 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $4.17B | +19.7% | $0.86 | +28.4% | 48.0% | 30.3% | 26.8% | $1.46B |
| FY2025 Q2 | $4.38B | +16.4% | $0.92 | +27.8% | 47.4% | 30.5% | 27.2% | $853M |
| FY2025 Q3 | $4.72B | +24.4% | $1.03 |
| +41.1% |
| 49.0% |
| 33.1% |
| 28.2% |
| $1.02B |
| FY2025 Q4 | $5.17B | +33.6% | $1.35 | +73.1% | 50.1% | 33.7% | 33.3% | $2.38B |
| FY2026 Q1 | $5.32B | +27.7% | $1.24 | +44.2% | 50.4% | 34.4% | 29.5% | $1.59B |
| FY2026 Q2 | $5.34B | +22.1% | $1.26 | +37.0% | 49.6% | 33.9% | 29.8% | $1.67B |
| FY2026 Q3 | $5.84B | +23.8% | $1.45 | +40.8% | 49.8% | 35.0% | 31.2% | $810M |
| FY2026 Q4 | $6.72B | +30.0% | $1.81 | +34.1% | 51.7% | 37.4% | 33.9% | $822M |
| Year | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2023 | $17.43B | +1.2% | $3.32 | +1.5% | 44.6% | 29.7% | 25.9% | $4.68B |
| FY2024 | $14.91B | -14.5% | $2.90 | -12.7% | 47.3% | 28.6% | 25.7% | $4.26B |
| FY2025 | $18.44B | +23.7% | $4.16 | +43.4% | 48.7% | 32.0% | 29.1% | $5.71B |
| FY2026 | $23.23B | +26.0% | $5.76 | +38.5% | 50.5% | 35.3% | 31.3% | $4.89B |