Company Valuation: Lam Research Corporation

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 60,793 86,271 139,220 124,330 474,079 425,609 - -
Change - 41.91% 61.38% -10.69% 281.31% -10.22% - -
Enterprise Value (EV) 1 62,141 85,908 138,355 122,424 472,234 419,576 414,616 408,145
Change - 38.25% 61.05% -11.51% 285.74% -11.15% -1.18% -1.56%
P/E 13.4x 19.3x 36.7x 23.4x 65.8x 36.2x 28.6x 24.1x
PBR 9.56x 10.4x 16.3x 12.5x 38x 23.4x 16.1x 11.8x
PEG - 13.74x -2.9x 0.5x 1.7x 0.6x 1.1x 1.3x
Capitalization / Revenue 3.53x 4.95x 9.34x 6.74x 20.4x 12.2x 10.3x 9.06x
EV / Revenue 3.61x 4.93x 9.28x 6.64x 20.3x 12x 10.1x 8.69x
EV / EBITDA 10.8x 15.1x 28.4x 19.3x 53.9x 29.6x 24.6x 21x
EV / EBIT 11.5x 16x 30.7x 20.6x 56.8x 30.3x 24.7x 21.7x
EV / FCF 24.3x 18.4x 32.5x 22.6x 96.5x 45.7x 33.9x 28.1x
FCF Yield 4.11% 5.44% 3.08% 4.42% 1.04% 2.19% 2.95% 3.56%
Dividend per Share 2 0.6 0.69 0.8 0.92 1.04 1.143 1.255 1.413
Rate of return 1.37% 1.07% 0.75% 0.95% 0.27% 0.34% 0.37% 0.42%
EPS 2 3.275 3.321 2.9 4.15 5.76 9.403 11.9 14.14
Distribution rate 18.3% 20.8% 27.6% 22.2% 18.1% 12.2% 10.5% 9.99%
Net sales 1 17,227 17,429 14,905 18,436 23,233 34,820 41,228 46,993
EBITDA 1 5,732 5,698 4,872 6,343 8,762 14,160 16,843 19,415
EBIT 1 5,398 5,355 4,513 5,957 8,320 13,829 16,802 18,810
Net income 1 4,605 4,511 3,828 5,358 7,265 11,776 14,883 17,591
Net Debt 1 1,348 -363.2 -864.5 -1,906 -1,845 -6,034 -10,993 -17,465
Reference price 2 43.83 64.22 106.48 97.20 379.09 340.10 340.10 340.10
Nbr of stocks (in thousands) 1,387,150 1,343,405 1,307,410 1,279,118 1,250,571 1,251,424 - -
Announcement Date 7/27/22 A 7/26/23 A 7/31/24 A 7/30/25 A 7/29/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
36.17x12.05x29.63x0.34% 426B
41.4x13.98x31.73x0.57% 691B
40.16x12.19x35.24x0.37% 420B
37.23x14.58x30.24x0.48% 261B
36.5x8.26x25.17x1.33% 182B
40.3x15.12x29.4x0.24% 173B
37.8x4.07x18.75x1.36% 97.7B
59.72x8.86x47.16x0.15% 66.59B
46.83x12.48x35.19x0.12% 65B
38.66x10.19x26.44x0.45% 49.41B
Average 41.48x 11.18x 30.90x 0.54% 243.08B
Weighted average by Cap. 39.82x 12.39x 31.04x 0.52%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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