Lam Research Corp (LRCX)

Quick ratio

		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
Cash	US$ in thousands	6,390,660	5,450,720	5,665,380	6,067,470	5,847,860	5,672,230	5,623,290	5,126,150	5,337,060	5,305,650	4,484,720	4,256,500	3,522,000	4,194,720	5,086,540	4,042,150	4,418,260	3,673,370	3,687,160	4,129,070
Short-term investments	US$ in thousands	—	—	—	—	—	0	14,720	30,557	37,641	63,849	103,130	120,551	135,731	160,072	242,590	569,472	1,310,870	2,116,100	2,355,070	2,528,840
Receivables	US$ in thousands	3,378,070	3,228,180	3,304,950	2,937,220	2,519,250	2,203,710	2,707,460	2,810,950	2,823,380	3,262,140	4,070,090	4,569,740	4,313,820	3,702,320	3,402,840	3,397,180	3,026,430	2,809,070	2,900,360	2,317,920
Total current liabilities	US$ in thousands	6,568,420	5,489,840	5,350,300	5,342,670	4,338,440	4,430,090	4,272,380	4,247,180	4,184,920	4,441,330	4,546,920	5,053,380	4,564,760	4,194,740	3,863,150	3,409,220	3,527,870	3,612,330	3,591,050	3,406,870
Quick ratio		1.49	1.58	1.68	1.69	1.93	1.78	1.95	1.88	1.96	1.94	1.90	1.77	1.75	1.92	2.26	2.35	2.48	2.38	2.49	2.63

June 30, 2025 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($6,390,660K + $—K + $3,378,070K) ÷ $6,568,420K
= 1.49

The quick ratio of Lam Research Corp has exhibited a general declining trend over the analyzed period from September 30, 2020, to June 30, 2025. Starting at a high of 2.63 in September 2020, it experienced a gradual decrease in the subsequent quarters, reaching a low point of approximately 1.49 in June 2025.

Throughout the period, the quick ratio remained well above 1, indicating that the company maintained a strong liquidity position, capable of covering its current liabilities with its most liquid assets, excluding inventory. The initial high ratio suggests a conservative liquidity stance early in the period, which slightly diminished over time but stayed within a range indicative of prudent liquidity management.

The ratio's fluctuations appear relatively moderate; notable decreases occurred around March 2022 and later in 2024, with the ratio dipping below 2 and nearing 1.5 during the latter period. Despite these declines, the ratio's values consistently remained above 1.5, implying that Lam Research Corp generally maintained sufficient liquid assets to meet short-term obligations without relying heavily on inventory conversion.

Overall, the trend indicates a gradual tightening of liquidity, yet the ratios suggest that the firm retains a stable and conservative liquidity profile throughout the period analyzed.