Short answer
Lam Research (LRCX) filed its Q4 2025 10-Q quarterly report on Jan 29, 2026 for the quarter ended Dec 28, 2025. Quarterly revenue was $5.3B (up 22.1% year over year) with net income of $1.6B.
Q4 2025 key financials · XBRL
- Revenue
- $5.3B
- +22.1% YoY · +0.4% QoQ
- Net income
- $1.6B
- +33.8% YoY · +1.6% QoQ
- Operating margin
- 33.9%
- Gross margin
- 49.6%
- EPS (diluted)
- $1.26
- +37.0% YoY · +1.6% QoQ
Source: XBRL data from the Lam Research (LRCX) Q4 2025 10-Q on SEC EDGAR. USD.
Lam Research Q4 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue not explicitly stated in provided text; no YoY comparison available
- Net income $3.16B over six months ended Dec 28, 2025; no margin % figures disclosed
- Cash flows from operating activities $3.26B; increase supported by $211.8M inventory reduction
- Cash and equivalents $6.2B vs $6.4B in prior period; $2.44B spent on share repurchases, $619.5M dividends paid
- Management cautious on demand due to semiconductor industry volatility, global economic uncertainty, but expects sufficient liquidity for next 12 months
Risk Factors
- No new risk factors explicitly added this quarter, no material changes from FY25 10-K identified
- Most materially updated risk: geopolitical tensions and export controls impacting supply chain and sales to China, due to evolving U.S. gov export restrictions
- Regulatory risk: U.S. export controls and tariffs including restrictions on sales to China increase compliance complexity and could limit market access
- Operational risk: supply chain disruptions from geopolitical conflicts, natural disasters, and supplier failures remain critical to near-term production continuity
- Financial risk: revenue concentration among limited large customers exposes company to variability in cash flows and credit risk from any single customer's payment failure
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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