Lam Research Corp (LRCX)

Operating profit margin

		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	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019
Operating income (ttm)	US$ in thousands	4,263,910	3,991,955	3,877,098	4,500,048	5,174,858	5,799,603	6,049,450	5,707,430	5,381,820	5,218,400	5,221,610	4,893,190	4,482,024	3,921,816	3,420,620	3,097,411	2,673,802	2,535,165	2,406,568	2,410,436
Revenue (ttm)	US$ in thousands	14,900,550	14,053,900	14,128,670	15,638,080	17,234,970	18,659,460	18,857,280	17,817,060	17,041,560	16,545,730	16,327,040	15,546,390	14,410,590	13,061,100	11,727,660	10,866,340	9,863,970	9,435,650	9,382,630	9,349,500
Operating profit margin		28.62%	28.40%	27.44%	28.78%	30.03%	31.08%	32.08%	32.03%	31.58%	31.54%	31.98%	31.47%	31.10%	30.03%	29.17%	28.50%	27.11%	26.87%	25.65%	25.78%

June 30, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $4,263,910K ÷ $14,900,550K
= 28.62%

The operating profit margin of Lam Research Corp has shown variability over the past few quarters. In the most recent quarter, as of June 30, 2024, the operating profit margin stood at 28.62%, slightly higher than the previous quarter's 28.40%. Looking back over the past two years, the operating profit margin has fluctuated within a range, reaching a peak of 32.08% in December 2022 and a low of 25.65% in September 2019.

Overall, the company has maintained relatively healthy operating profit margins, generally above 25% during the period under review. This indicates that Lam Research Corp has been effectively managing its operating expenses in relation to its revenue generation. However, the slight fluctuations in the operating profit margin suggest that the company may be experiencing variations in operational efficiency, profitability, or cost management strategies. It would be important for stakeholders to further investigate the factors contributing to these fluctuations to ensure sustained profitability and operational effectiveness.