Lam Research Corp (LRCX)

Working capital 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
Total current assets	US$ in thousands	14,517,000	12,883,200	13,228,400	12,285,200	11,652,400
Total current liabilities	US$ in thousands	6,568,420	4,338,440	4,184,920	4,564,760	3,527,870
Working capital turnover		2.32	1.74	1.93	2.23	1.80

June 30, 2025 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $18,435,600K ÷ ($14,517,000K – $6,568,420K)
= 2.32

The working capital turnover ratio for Lam Research Corp exhibited fluctuations over the analyzed period from June 30, 2021, to June 30, 2025. Specifically, the ratio increased from 1.80 in 2021 to 2.23 in 2022, indicating an improvement in the company's efficiency in utilizing its working capital to generate sales during that period. However, this upward trend was not sustained, as the ratio declined to 1.93 in 2023 and further to 1.74 in 2024, suggesting a potential deterioration in operational efficiency or increased working capital relative to sales. In the most recent year, 2025, the ratio rebounded to 2.32, surpassing previous levels and indicating a renewed or improved efficiency in managing working capital in relation to sales. Overall, the pattern reflects a period of initial improvement, subsequent decline, and eventual recovery in working capital utilization efficiency over the five-year span.