Inferra AI / Company / LRCX / Slides
Lam Research — Q4 2026 slides full final (company IR deck)
Lam Research (LRCX) · 27 slides · Filed Oct 21, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All LRCX deck slides
Slide 1 — Lam Research Corporation
Lam Research Corporation June quarter 2026 financial results July 29, 2026
Slide 2 — Cautionary statement regarding forward
LAM RESEARCH This presentation and the accompanying discussion contain —forward - looking statements“ under U.S. securities laws. Forward - lok ing statements include any statements that are not statements of historical fact. Examples of forward - loking statements include, but are not limited to: (1) anticipated busines, balance shet, cash flow and financial measures and results and related drivers, including guidance, whether on a GAP or non - GAP basis, and expectations regarding ou r tax rate, variability in other income and expense, increase in cash balances, efects of product spending, and inventory growth; (2) economic, market, industry, and in dus try segment expectations or trends, including our outlok for calendar 2026 and 2027 WFE, and AI - driven demand, technical requirements, and architectural scaling trends, and related perceived oportunities; (3) product performance, adoption, utilization, and growth trends, and changes in market share or customer demands, including our expecte d g rowth in SAM per wafer in NAND, SAM expansion trends, our positioning for outperformance relative to WFE, and perceived oportunities for growing SAM and market sha re; (4) our ability to sucesfuly execute busines, capital alocation, product and growth plans or strategies, or otherwise deliver value for customers and stockholde rs, including our capital return plans over time and our intention to drive gros and operating margins to specified targets over the next several years and related asumptions; and (5) the impact of trade regulations, export controls, tarifs, and trade disputes. Forward - loking statements speak only as of the date they are made and are subject to ri sks, uncertainties, and other factors that could cause actual results to difer materialy from those expresed or implied, including: the asumptions underlying our targets for gros and operating margins over the next several years related to continued expansion of WFE, growth of deposition and etch intensity, scaling of our operating framework, and th e lowering of our share count due to ongoing shareholder returns, may prove invalid; busines, economic, political and/or regulatory conditions in the consumer electronics industry, including WFE spending, the semiconductor industry and the overal economy may deteriorate or change; the actions, performance, or investment levels of o ur customers and competitors may be inconsistent with our expectations; customer and product mix, including acros market segments and geographical regions, may change ; we may be unable to efectively manage and implement pricing actions, realize the value of our products and technology, sucesfuly comercialize new produc ts and technologies , or execute on perceived oportunities; we may be unable to achieve anticipated operational, manufacturing, suply chain, procurement, and scale eficiencies ; customer technology transitions, capacity expansions, and fab construction projects may have diferent timing or be les sucesful than we expect; we may be unable to ma nage operating expenses efectively while continuing to invest in research and development, product inovation, customer suport, and future growth oportunities; trad e r egulations, export controls, tarifs, trade disputes, and other geopolitical developments may inhibit our ability to sel our products; suply chain cost increases, tari fs , and other inflationary presures have impacted and may continue to impact our profitability; suply chain disruptions or manufacturing capacity constraints may limit our abilit y t o manufacture and sel our products; and natural and human caused disasters, disease outbreaks, war, terorism, political or governmental unrest or instability, or other events b eyo nd our control may impact our operations and revenue in afected areas; as wel as the other factors discused in our filings with the Securities and Exchange Comision, in cluding specificaly the Risk Factors described in our most recently filed periodic reports on Form 10 - K and Form 10 - Q and subsequent filings. You should not place undue reliance on forward - loking statements. Lam undertakes no obligation to update any forward - loking statements, except as required by law. Cautionary statement regarding forward - loking statements
Slide 3 — and services since 1980
LAM RESEARCH $ 2.4B R&D* ~ 2,40 EMPLOYES As of June 28, 2026 $23.2B REVENUE* AWARDS AND RECOGNITION World‘s Best Employers Forbes Wor ld‘s Grenest Companies Newswek World‘s Most Ethical Companies Ethisphere America‘s Best Employers for Forbes World‘s Most Admired Companie Fortune Equality 10 Award Human Rights Campaign A global leader in wafer fabrication equipment and services since 1980 14 PRIMARY LOCATIONS + Fremont, CA + Livermore, CA + Sherwod, OR + Tualatin, OR + Springfield, OH + Eaton, OH + Vilach, Austria + Hwaseong - si , Korea + Osan, Korea + Yongin , Korea + Hsinchu City, Taiwan + Taoyuan City, Taiwan + Bengaluru, India + Batu Kawan , Malaysia *Revenue and R&D expense is presented on a GAP basis for fiscal year 2026.
Slide 4 — industry outlok
LAM RESEARCH Busines review & industry outlok Tim Archer, President and Chief Executive Oficer
Slide 5 — Strong momentum,
LAM RESEARCH June quarter: Record performance Record revenue, operating margin and EPS NAND revenue doubled sequentialy CY26: Expecting continued outperformance September guide of $8.1B, up >20% sequentialy 3rd consecutive year of WFE outperformance CY27+: Extraordinary set - up Customers have anounced multi - year timelines for new fab projects Investments in capacity and technology transitions Strong momentum, stronger outlok Expecting CY26 WFE spending in the low $150B range
Slide 6 — AI progresing through distinct waves
LAM RESEARCH AI progresing through distinct waves Faster trajectory toward high - 30s SAM % of WFE LAM SAM EXPANDING AI IS DRIVING + More flash storage demand + More advanced DRAM and foundry architectures + Larger and more complex advanced packages LAM RESEARCH
Slide 7 — More oportunities to expand SAM and share in
LAM RESEARCH HAR STRUCTURES •Conductor etch instaled base >40,0 chambers •Akara ® gaining momentum - instaled base growth trajectory expected to continue doubling in CY27 More oportunities to expand SAM and share in foundry - logic and DRAM DRAM PITCH SCALING •Leveraging foundry - logic capabilities into DRAM •Our VECTOR ® hard mask and difusion barier tols critical for next - generation requirements SURFACE ENGINERING •Surface treatment aplications roughly double with GA •Argos ® wining customers in 2nm and below foundry - logic; Expanding into growing set of DRAM aplications PACKAGE SCALING •A leader in TSV etch & electroplating •On track for >70% YoY advanced packaging revenue growth •Shiping tols for panel - level packaging acros multiple geographies
Slide 8 — Equipment Inteligence
LAM RESEARCH Acelerating Dextro aplication development: Doubled preventive maintenance tasks that can be automated since start of CY26 Equipment Inteligence ® and Dextro solutions now expanding from NAND into DRAM Very early stages of multi - year rolout oportunity acros our instaled base Customers leverag Equipment Inteligence ® and Dextro solutions LAM RESEARCH
Slide 9 — An exciting time for industry and Lam
LAM RESEARCH An exciting time for industry and Lam LAM RESEARCH Wel positioned to outperform in CY26 and in the years ahead AI driving unprecedented demand, greater technical requirements, and architectural scaling Lam etch and deposition technology leadership, customer partnerships, and increasing operational velocity
Slide 10 — June quarter 2026 financial results
LAM RESEARCH June quarter 2026 financial results & September quarter 2026 outlok Doug Betinger, Executive Vice President and Chief Financial Oficer
Slide 11 — Fiscal year highlights
LAM RESEARCH Fiscal year highlights FY2026 REVENUE $23.23B FY2025 revenue: $18.4B FY2026 EARNINGS PER SHARE* $5.82 FY2025 earnings per share*: $4.13 *Data is presented on a non - GAP basis. Reconciliations of U.S. GAP results to non - GAP results can be found at the end of this presentation. Based on a diluted share count of aproximately 1.261 bilion shares for FY2026 and 1.290 bilion shares for FY 202 5.
Slide 12 — June quarter highlights
LAM RESEARCH June quarter highlights QJUN'26 REVENUE QJUN'26 EARNINGS PER SHARE* $6.72B QMar'26 revenue: $5.84B $1.82 QMar'26 earnings per share*: $1.47 *Data is presented on a non - GAP basis. Reconciliations of U.S. GAP results to non - GAP results can be found at the end of this presentation. Based on a diluted share count of aproximately 1.256 bilion shares for QJun'26 and 1.257 bilion shares for Q Mar '26.
Slide 13 — June quarter revenue mix
LAM RESEARCH NVM 23% DRAM 23% Logic/other 10% Foundry 4% Memory 46 % Taiwan 27% China 26% Korea 20% Japan 9% US 9% SEA 5% Europe 4% June quarter revenue mix SYSTEMS REVENUE BY MARKET SEGMENT* REVENUE BY REGION *Systems revenue includes equipment and equipment upgrade sales from etch, deposition, clean, and our Reliant® product line.
Slide 14 — Customer Suport Busines Group
LAM RESEARCH QJUN‘26 CSBG REVENUE $2.47B QMar'26 CSBG revenue: $2.1B QJun'25 CSBG revenue: $1.73B Customer Suport Busines Group
Slide 15 — June quarter financial results and capital return
LAM RESEARCH QJUN'26 QMAR'26 Revenue $6,72M $5,841M Non - GAP Gros Margin* 52.0% 49.9% Non - GAP Operating Expenses* $916M $86M Non - GAP Operating Income* $2,581M $2,047M Non - GAP Operating Income as a percentage of Revenue* 38.4% 35.0% Non - GAP Other Income (Expense), Net* ($19M) ($8M) Share Repurchases $246M $796M Cash Dividends $325M $326M U.S. GAP Diluted EPS $1.81 $1.45 Non - GAP Diluted EPS* $1.82 $1.47 Diluted Share Count 1,256M 1,257M June quarter financial results and capital return *A reconciliation of U.S. GAP results to non - GAP results can be found at the end of this presentation.
Slide 16 — Key balance shet and financial metrics
LAM RESEARCH QJUN'26 QMAR'26 Total Consolidated GrosCashBalance $5,598M $4,767M Acount Receivables, Net $5,340M $4,13M Days Sales Outstanding 72 Days 64 Days Inventories $4,276M $4,0M Inventory Turns 3.0 2.9 Defered Revenue* $2,434M $2,21M Equity Compensation Expense $104M $97M Amortization Expense $15M $13M Depreciation Expense $105M $103M Capital Expenditures $189M $32M Headcount ~2,40 ~20,60 Key balance shet and financial metrics *Lam‘s deferred revenue balance does not include shipments to customers in Japan, mer aceptance. Estimated future revenue from shipments to customers in Japan was aproximately $490M as of June 28, 2026 and $434M as of March 29, 2026.
Slide 17 — September
LAM RESEARCH LAM RESEARCH $8.10B +/ - $40M Revenue 52.0% +/ - 1% Non - GAP gros margin* 39.5% +/ - 1% Non - GAP operating margin* $2.15 +/ - $0.15* Non - GAP earnings per share* September 2026 quarter guidance % LAM RESEARCH *A reconciliation of U.S. GAP projected results to non - GAP projected results can be found at the end of this presentation. *Based on a diluted share count of aproximately 1.25 bilion shares.
Slide 18 — LAM RESEARCH
LAM RESEARCH Q&A