Lam Research's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Lam Research (LRCX) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Lam Research vs Its Competitors
- TTM: Trailing 12-month revenue of 26,128M vs 23,599M combined for its competitors (52.5% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+25.8% annualized vs trailing 12 months), vs accelerating (+11.9%) for its tracked peer group.
- Growth: Lam Research generated 54.4% revenue growth year over year in Q1 2026, vs 19.1% for its competitors combined.
- Profitability: Its 33.5% net margin compares with 27.6% for the peer group.
- Scale: Lam Research ranks #2 of 143 companies by market capitalization in the Industrial Machinery and Components industry, holding 15.0% of industry market cap.
- Peer revenue share: Lam Research accounted for 55.5% of combined revenue among its tracked peer group, up from 49.0% a year earlier.
- Peer differentiation: Revenue per employee of $1.12M compares with $1.87M for the peer group (0.6x).
- Structure: Lam Research operates in the following segments: Reportable.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
LRCX Sales vs. its Competitors, Q1 2026
Lam Research reported revenue growth of 54.38 % year on year in Q1 2026, above its competitors' combined revenue growth of 19.12 %.
With a net margin of 33.50 %, Lam Research achieved higher profitability than its competitors (27.63 %).
Lam Research generated 55.46 % of the combined sales of its peer group, up from 49.00 % a year earlier.
API endpoints for this dataset
Lam Research vs. its Competitors, Q1 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Lam Research reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Lam Research and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Lam Research Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (1) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Lam Research's competitor groups requires a Commercial License.
For context: the Industrial Machinery and Components industry grew revenue 15.7% year over year, combined, vs 54.4% for Lam Research. Lam Research's share of combined industry revenue moved from 4.30% to 5.74%, a gain of 1.44 percentage points.
Lam Research's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Lam Research Corporation | Yes | Yes | Yes | No |
| Competitors combined (21) | ||||
| High-Confidence Competitors (8) | ||||
| Similar-Size Competitors (6) | ||||
| Similar Growth & Profitability (8) | 62.50 % (5 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
LRCX Stock Performance relative to its Competitors
LRCX Stock Performance relative to High-Confidence Competitors
LRCX Stock Performance relative to Similar-Size Competitors
LRCX Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Skywater Technology Inc | 282.9% | Outperformed |
| 2 | Ase Technology Holding Co Ltd | 282.9% | Outperformed |
| 3 | Kulicke And Soffa Industries Inc | 282.9% | Outperformed |
| 4 | Tower Semiconductor Ltd | 282.9% | Outperformed |
| 5 | Cohu Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Lam Research's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Lam Research's Comment on Competition and Industry Peers
Publicly Traded Peers of Lam Research Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Lam Research Corporation |
251,706.14 | 26,127.94 |
 Taiwan Semiconductor Manufacturing Company Limited |
1,947,076.89 | 121,423.20 |
 Asml Holding Nv |
554,085.28 | 36,921.92 |
 Applied Materials Inc |
266,172.00 | 30,837.00 |
 Kla Corporation |
181,569.25 | 14,505.80 |
 Ase Technology Holding Co Ltd |
140,106.76 | 20,573.41 |
| SUBTOTAL | 3,473,283.19 | 496,493.32 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Lam Research Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Lam Research's Competitors Named by the Company
Competitive relationships identified from Lam Research reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Applied Materials, Inc. | Company report | 85% |
| SK hynix Inc. | Company report | 85% |
| Micron Technology, Inc. | Company report | 85% |
| Taiwan Semiconductor Manufacturing Company | Company report | 85% |
| Samsung Electronics Company, Ltd. | Company report | 85% |
| Nova Ltd | Company report | 85% |
| Kioxia Corporation | Company report | 85% |
| Intel Corporation | Company report | 85% |
| Yangtze Memory Technologies Co., Ltd. | Company report | 85% |
| Tokyo Electron, Ltd. | Company report | 85% |
| Hitachi, Ltd. | Company report | 85% |
| Screen Holding Co., Ltd. | Company report | 85% |
| Wonik IPS | Company report | 85% |
| Semes Co., Ltd. | Company report | 85% |
| ASM International | Company report | 85% |
| Acm Research Inc | Company report | 85% |
| Kla Corporation | Company report | 85% |
| Onto Innovation Inc | Company report | 85% |
| Kulicke And Soffa Industries Inc | Company report | 85% |
| Asml Holding Nv | Company report | 85% |
Company report basis, confidence, active dates and source counts for Lam Research's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Lam Research's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Lam Research Corporation | Reportable 100.00 % |
| Applied Materials Inc | Semiconductor Systems 75.41 % |
| Kla Corporation | Semiconductor Process Control 90.77 % |
| Agilent Technologies inc | Agilent CrossLab 41.36 % |
| Amkor Technology Inc | Reportable 100.00 % |
| Formfactor inc | Probe Cards 78.81 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Lam Research's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Lam Research Corporation | 251,706 | 1,121,371 | 362,656 |
| Taiwan Semiconductor Manufacturing Company Limited | 1,947,077 | 1,713,299 | 762,463 |
| Asml Holding Nv | 554,085 | 835,168 | 245,755 |
| Applied Materials Inc | 266,172 | 844,849 | 253,890 |
| Kla Corporation | 181,569 | 853,282 | 309,313 |
| Ase Technology Holding Co Ltd | 140,107 | 1,442,938 | 92,106 |
| PEERS TOTAL | 3,221,577 | 1,873,585 | 332,252 |
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Lam Research's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Lam Research Corporation | China 35.11 % |
| Asml Holding Nv | Rest of Europe and Middle East 1.43 % |
| Applied Materials Inc | Taiwan 27.24 % |
| Kla Corporation | China 34.47 % |
| Agilent Technologies inc | Americas 41.63 % |
| Onto Innovation Inc | TW 29.16 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Lam Research's Position in Industry Market Structure
Market-capitalization share and concentration across all 127 companies in Lam Research's industry classification, broader than the peer set above. Market cap in millions of $.Lam Research ranks #2 of 127 companies by market capitalization in its industry, holding 14.99 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,541, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Asml Holding Nv | 554,085 | 32.86 % |
| 2 | Lam Research Corporation | 252,775 | 14.99 % |
| 3 | Deere and Co | 181,816 | 10.78 % |
| 4 | Eaton Corporation Plc | 133,100 | 7.89 % |
| 5 | Illinois Tool Works Inc | 1,234 | 5.2% |
| 6 | Bloom Energy Corporation | 1,234 | 5.2% |
| 7 | Carrier Global Corporation | 1,234 | 5.2% |
| 8 | Ingersoll Rand Inc | 1,234 | 5.2% |
| 9 | Dover Corp | 1,234 | 5.2% |
| 10 | Woodward Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Lam Research's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Lam Research's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Asml Holding Nv | 554,085 | 37.49 % |
| 2 | Lam Research Corporation | 252,775 | 23.29 % |
| 3 | Deere and Co | 181,816 | 41.03 % |
| 4 | Eaton Corporation Plc | 1,234 | 12.3% |
| 5 | Illinois Tool Works Inc | 1,234 | 12.3% |
| 6 | Bloom Energy Corporation | 1,234 | 12.3% |
| 7 | Carrier Global Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Lam Research's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Lam Research's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Industrial Machinery and Components industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (176 companies). See the full Industrial Machinery and Components industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 23.01 % (avg) | - |
| Operating Margin | 0.37 % | industry median | -10.0 pp |
| EBITDA Margin | 0.40 % | 0.74 % (avg) | -0.3 pp |
| Capital Intensity (Capex / Revenue) | 3.98 % | 7.36 % (avg) | -3.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Lam Research's Valuation vs Competitive Position
Valuation multiples vs the Industrial Machinery and Components industry average (176 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Industrial Machinery and Components industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 46.5x | 35.3x | +11.2x |
| EV / EBITDA | 36.5x | 17.3x | +19.1x |
| P/B | 33.5x | 3.9x | +29.6x |
| Return on Equity | 0.72 % | industry aggregate | -27.22 % |
| Return on Invested Capital | 0.62 % | -0.88 % (avg) | 1.50 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Lam Research's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | - | - | - | 38.52 % | 15.27 % | -24.84 % | 13.23 % | 26.84 % |
| Operating Margin | - | - | 28.68 % | 31.60 % | 31.76 % | 27.08 % | 29.50 % | 33.76 % |
| Return on Invested Capital | - | - | 20.64 % | 28.73 % | 29.74 % | 17.01 % | 21.15 % | 25.39 % |
| P/E | - | - | 237.5x | 20.5x | 121.5x | 5.1x | 7.4x | 32.0x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Lam Research's Strategic Group Map
Lam Research is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Lam Research's trailing-12-month revenue growth of 33.4% and operating margin of 0.4% compares with an average of 27.9% growth and 2.5% margin across its 8 closest peers by combined growth, margin and ROIC -- Lam Research sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Lam Research's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Lam Research falls in the Dog quadrant: relative market share of 0.46x vs its largest competitor, in an industry growing revenue 7.5% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Lam Research's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,541 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.98 % vs industry average 7.36 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Lam Research's dedicated Suppliers and Customers pages, not here.
Lam Research's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Lam Research falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Lam Research's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+25.8% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Operating margin 10.0 points below the industry median.
- Return on equity 27.2 points below the industry aggregate.
- Low relative market share vs the industry leader (0.46x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Lam Research's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Lam Research Corporation | 0.96 | 2.46 | 0.34 |
| Taiwan Semiconductor Manufacturing Company Limited | 1.82 | 2.51 | 0.02 |
| Asml Holding Nv | 0.53 | 1.26 | 0.19 |
| Applied Materials Inc | 0.79 | 2.53 | 0.29 |
| Kla Corporation | 0.42 | 2.82 | 1.00 |
| Ase Technology Holding Co Ltd | 0.37 | 1.26 | 0.11 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Lam Research's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Lam Research Corporation | Q3 2026 | +54.4 % | +75.5 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +37.6 % | +53.1 % |
| Asml Holding Nv | Q4 2025 | +20.7 % | +32.6 % |
| Applied Materials Inc | Q2 2026 | +24.8 % | +42.7 % |
| Kla Corporation | Q3 2026 | +28.9 % | +38.1 % |
| Ase Technology Holding Co Ltd | Q4 2025 | +13.3 % | +27.3 % |
| PEERS TOTAL | +22.9 % | +52.0 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Lam Research's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Lam Research Corporation | Q3 2026 | +48.5 % | +39.2 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +25.7 % | +39.1 % |
| Asml Holding Nv | Q4 2025 | +16.9 % | -18.2 % |
| Applied Materials Inc | Q2 2026 | +21.1 % | +21.1 % |
| Kla Corporation | Q3 2026 | +26.9 % | +103.1 % |
| Ase Technology Holding Co Ltd | Q4 2025 | +11.4 % | +129.4 % |
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Lam Research's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Lam Research Corporation | 36.73% | 48.95% | 72.18% |
| Taiwan Semiconductor Manufacturing Company Limited | 21.37% | 26.29% | 31.41% |
| Asml Holding Nv | 18.31% | 35.02% | 47.20% |
| Applied Materials Inc | 23.70% | 28.79% | 41.02% |
| Kla Corporation | 30.35% | 39.27% | 89.90% |
| Ase Technology Holding Co Ltd | 4.63% | 6.38% | 11.18% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Lam Research's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Lam Research Corporation | 29.87 | 9.63 |
| Taiwan Semiconductor Manufacturing Company Limited | 70.18 | 16.04 |
| Asml Holding Nv | 57.66 | 15.01 |
| Applied Materials Inc | 28.76 | 8.63 |
| Kla Corporation | 6.92 | 12.52 |
| Ase Technology Holding Co Ltd | 3.61 | 6.81 |
| PEERS AVERAGE | 37.81 | 7.00 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.