Lam Research Corp (LRCX)

Fixed asset turnover

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Revenue (ttm)	US$ in thousands	18,435,600	17,135,720	16,209,100	15,591,310	14,905,390	14,241,140	14,317,150	15,836,460	17,428,520	18,838,510	19,029,360	17,978,390	17,208,730	16,736,660	16,523,890	15,753,530	14,626,150	13,272,830	11,928,800	11,056,060
Property, plant and equipment	US$ in thousands	—	—	—	—	—	—	—	2,110,510	2,099,330	1,855,120	1,863,160	1,718,790	1,647,590	1,561,880	1,503,380	1,372,530	1,303,480	1,279,840	1,208,280	1,133,530
Fixed asset turnover		—	—	—	—	—	—	—	7.50	8.30	10.15	10.21	10.46	10.44	10.72	10.99	11.48	11.22	10.37	9.87	9.75

June 30, 2025 calculation

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

The fixed asset turnover ratio for Lam Research Corp demonstrates notable variability over the analyzed period, reflecting shifts in operational efficiency. Beginning from a value of 9.75 as of September 30, 2020, the ratio experienced a consistent upward trend through the subsequent quarters, reaching a peak of 11.48 on September 30, 2021. This increase suggests an improvement in the company's utilization of its fixed assets to generate revenue during this period.

After reaching the peak in late 2021, the ratio generally remained elevated but exhibited some fluctuations, indicating periods of stabilization and modest decline. By June 30, 2022, the ratio slightly decreased to approximately 10.44, and further to 10.21 by December 31, 2022. In 2023, the ratio continued to trend downwards, recording 10.15 at the end of March and dropping more significantly to 8.30 in June. The most recent value available as of September 30, 2023, was 7.50, marking a notable decline from the earlier peaks.

The overall pattern indicates that Lam Research has experienced a peak in asset efficiency around late 2021, followed by a gradual decrease. This downward trend could suggest a decline in the company's asset utilization efficiency, possibly due to increased capital investment, changes in production processes, or shifts in revenue generating capacity relative to the fixed assets held.

Future data points remain unavailable, which limits further analysis, but the existing trend highlights the importance of monitoring asset utilization ratios to understand operational performance over time.