Question 1

What is Lam Research's P/E ratio?

Accepted Answer

Lam Research (LRCX) P/E ratio is 56.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Lam Research?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Lam Research specifically, the relevant sector benchmark is the current sector median of 29.6×.

Question 5

Is Lam Research's P/E ratio high or low?

Accepted Answer

Lam Research's P/E ratio of 56.8× is above its own 5-year average of 23.3× and above the sector median of 29.6×. That places the current reading at the 99th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Lam Research's historical P/E ratio range?

Accepted Answer

In the available daily series, Lam Research (LRCX) P/E ratio has ranged from a low of 6.6× in 2018 to a high of 279.1× in 2003. The 5-year average is 23.3× and the 5-year median is 21.9×.

Question 7

What was Lam Research's P/E ratio in 2025?

Accepted Answer

Lam Research (LRCX) P/E ratio at the end of 2025 was 23.1×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Lam Research's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$124.04B	$5.36B	23.1×	-13.3×	Jun 29, 2025
2024	$139.37B	$3.83B	36.4×	+17.3×	Jun 30, 2024
2023	$86.18B	$4.51B	19.1×	+6.3×	Jun 30, 2023
2022	$58.81B	$4.61B	12.8×	-11.0×	Jun 30, 2022
2021	$92.83B	$3.91B	23.8×	+2.9×	Jun 30, 2021
2020	$47.00B	$2.25B	20.9×	+7.9×	Jun 30, 2020
2019	$28.34B	$2.19B	12.9×	+1.2×	Jun 30, 2019
2018	$27.82B	$2.38B	11.7×	-1.8×	Jun 30, 2018
2017	$22.94B	$1.70B	13.5×	-1.2×	Jun 30, 2017
2016	$13.44B	$914.05M	14.7×	-5.0×	Jun 30, 2016
2015	$12.91B	$655.58M	19.7×	+2.3×	Jun 30, 2015
2014	$10.97B	$632.29M	17.3×	-45.7×	Jun 30, 2014
2013	$7.18B	$113.88M	63.1×	+33.1×	Jun 30, 2013
2012	$5.05B	$168.72M	29.9×	+22.4×	Jun 30, 2012
2011	$5.48B	$723.75M	7.6×	-6.3×	Jun 30, 2011
2010	$4.81B	$346.67M	13.9×	—	Jun 30, 2010
2009	$3.28B	−$302.15M	—	—	Jun 30, 2009
2008	$4.51B	$439.35M	10.3×	+0.5×	Jun 30, 2008
2007	$6.70B	$685.82M	9.8×	-9.9×	Jun 30, 2007
2006	$6.59B	$335.75M	19.6×	+6.3×	Jun 30, 2006
2005	$4.00B	$299.34M	13.3×	-31.8×	Jun 30, 2005
2004	$3.75B	$82.99M	45.1×	—	Jun 30, 2004
2003	$2.32B	−$7.74M	—	—	Jun 30, 2003
2002	$2.14B	−$90.05M	—	—	Jun 30, 2002


NXP Semiconductors (NXPI)	17.9×
Uber (UBER)	17.3×
Broadridge Financial Solutions (BR)	17.2×
NetApp (NTAP)	16.8×
Accenture (ACN)	16.8×
Corpay (CPAY)	16.7×
Dell Technologies (DELL)	16.2×
Western Digital (WDC)	15.7×
Adobe (ADBE)	14.9×
CDW (CDW)	14.5×
Zoom Communications (ZM)	13.8×
QUALCOMM (QCOM)	13.7×
PTC (PTC)	13.5×
Paycom Software (PAYC)	13.2×
Elastic N.V. (ESTC)	13.2×
Cognizant (CTSH)	13.1×
GoDaddy (GDDY)	12.7×
Gen Digital (GEN)	11.7×
Duolingo (DUOL)	10.9×
Super Micro Computer (SMCI)	10.9×
Science Applications International (SAIC)	10.3×
Fiserv (FISV)	9.3×
Fidelity National Information Services (FIS)	9.0×
HP (HPQ)	7.5×
Lyft (LYFT)	1.8×

P/E Ratio for Lam Research (LRCX)

P/E Ratio daily chart for Lam Research (LRCX)

Historical P/E Ratio for Lam Research (LRCX) from 2002 to 2025

About P/E Ratio at Lam Research (LRCX)

Lam Research P/E Ratio by Year

Lam Research P/E Ratio 2025: 23.1×

Lam Research P/E Ratio 2024: 36.4×

Lam Research P/E Ratio 2023: 19.1×

Lam Research P/E Ratio 2022: 12.8×

Lam Research P/E Ratio 2021: 23.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Lam Research (LRCX) Key Financials

P/E Ratio daily chart for Lam Research (LRCX)

Historical P/E Ratio for Lam Research (LRCX) from 2002 to 2025

About P/E Ratio at Lam Research (LRCX)

Lam Research P/E Ratio by Year

Lam Research P/E Ratio 2025: 23.1×

Lam Research P/E Ratio 2024: 36.4×

Lam Research P/E Ratio 2023: 19.1×

Lam Research P/E Ratio 2022: 12.8×

Lam Research P/E Ratio 2021: 23.8×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

+What is Lam Research's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

+What is a good P/E ratio for Lam Research?

+Is Lam Research's P/E ratio high or low?

+What is Lam Research's historical P/E ratio range?

+What was Lam Research's P/E ratio in 2025?

+Why does Lam Research's P/E ratio change over time?

Lam Research (LRCX) Key Financials