Lam Research Corp (LRCX)

Fixed asset turnover

		Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Revenue	US$ in thousands	18,435,600	14,905,400	17,428,500	17,227,000	14,626,200
Property, plant and equipment	US$ in thousands	—	—	2,099,330	1,647,590	1,303,480
Fixed asset turnover		—	—	8.30	10.46	11.22

June 30, 2025 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $18,435,600K ÷ $—K
= —

The fixed asset turnover ratio for Lam Research Corp has demonstrated a consistent decline over the period from June 30, 2021, to June 30, 2023. Specifically, the ratio decreased from 11.22 in 2021 to 10.46 in 2022, indicating a reduction in sales generated per dollar of fixed assets. This downward trend continued into 2023, with the ratio further decreasing to 8.30. The declining fixed asset turnover suggests that the company is generating less sales relative to its fixed assets over time, which could reflect factors such as increased investment in fixed assets not immediately translating into proportionate sales growth, or a shift in operational efficiency. Data for subsequent periods, June 30, 2024, and June 30, 2025, are unavailable, so further trend analysis beyond 2023 cannot be conducted.