Lam Research Corp (LRCX)

Total 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
Total assets	US$ in thousands	21,345,300	19,968,300	19,839,900	19,532,500	18,744,700	18,279,600	18,783,900	18,538,500	18,781,600	19,243,400	19,206,400	18,721,300	17,195,600	16,589,000	16,685,400	15,565,600	15,892,200	15,284,900	15,370,400	15,057,000
Total asset turnover		0.86	0.86	0.82	0.80	0.80	0.78	0.76	0.85	0.93	0.98	0.99	0.96	1.00	1.01	0.99	1.01	0.92	0.87	0.78	0.73

June 30, 2025 calculation

Total asset turnover = Revenue (ttm) ÷ Total assets
= $18,435,600K ÷ $21,345,300K
= 0.86

The total asset turnover ratio of Lam Research Corp exhibits notable fluctuations over the analyzed period from September 2020 through June 2025. Starting at 0.73 in September 2020, the ratio demonstrates a consistent upward trend, reaching a peak of approximately 1.01 in March 2021 and March 2022. This increase indicates an improvement in the company's efficiency in utilizing its assets to generate revenue, likely reflecting enhanced operational performance or higher sales relative to asset base.

Following the peak in early 2022, the ratio experiences a slight decline, stabilizing around 0.96 to 0.99 through the remainder of 2022 and early 2023. This stabilization suggests a period of maintained efficiency but with slight variations possibly due to changes in sales volume or asset utilization nuances.

A more pronounced downward trend emerges from September 2023 onward, with the ratio decreasing to 0.76 by December 2023. This decline indicates a reduction in asset efficiency, potentially due to increased asset base without a proportional rise in sales, or challenges in maintaining prior operational efficiencies. Subsequently, the ratio shows signs of stabilization and modest recovery, reaching around 0.86 by June 2025.

Overall, the total asset turnover ratio of Lam Research Corp reflects a period of growth in asset utilization efficiency during the initial phase, followed by a relative decline and stabilization in later periods. These movements could be associated with broader industry dynamics, capital expenditure patterns, or changes in sales strategies affecting how effectively assets are employed to generate revenue.