Applied Materials vs Lam Research AMAT vs LRCX
Applied Materials and Lam Research on one sheet: valuation multiples, growth, margins, debt, dividends and returns, each section labelled with the period it covers, from the companies' filings. Add or remove a stock above the sheet; the link holds the set.
What differs most
- Consensus revenue growth for next year: Lam Research +52.4%, Applied Materials +21.1%.
- Return on equity: Lam Research 60.8%, Applied Materials 36.2%.
- One-year price return: Applied Materials +69.4%, Lam Research +56.6%.
- Operating margin: Lam Research 37.0%, Applied Materials 30.5%.
Price return
2025-10-26 → 2026-10-26
AMAT+69.4%
LRCX+56.6%
Profile
latestSector
Technology
Technology
Industry
Semiconductors
Semiconductors
Market value
$307.59B
$297.21B
Enterprise value
$307.90B
$293.51B
Employees
36,500
23,300
Revenue per employee (TTM)
$845K
$1.1M
Our models
nightlythe valuation on each stock's pagePrice vs model
71% overvalued vs model
108% overvalued vs model
Model range
$166–358
$86.89–169
Models in the headline
1
1
FCF growth priced in, at a 10% return
28.2%
30.6%
Every model, its assumptions and its range: AMAT valuation · LRCX valuation. The growth priced in, at any return: AMAT reverse DCF · LRCX reverse DCF.
Trading
close 2026-10-26Last close
$387.59
$237.50
52-week high
$723.00
$433.33
52-week low
$220.23
$139.59
Price vs 52-week high
−46.4%
−45.2%
Price vs 52-week low
+76.0%
+70.1%
Average daily volume / shares
1.0%
0.8%
Beta
1.59
1.85
Returns
to 2026-10-261 month
−20.1%
−24.7%
3 months
−27.7%
−22.2%
6 months
−7.1%
−11.3%
Year to date
+50.8%
+38.7%
1 year
+69.4%
+56.6%
1 year, dividends added
+70.3%
+57.3%
2 years
+107.8%
+205.7%
Valuation
AMAT price × TTM to Jul 2026 · LRCX price × TTM to Sep 2026P/E (TTM)
33.4×
35.4×
P/E on consensus EPS (next FY)
30.2×
24.6×
Price / sales
10.0×
11.4×
EV / sales
10.0×
11.2×
EV / EBITDA
26.7×
28.8×
Price / book
12.0×
21.4×
Price / free cash flow (FY)
54.0×
60.8×
Free-cash-flow yield (FY)
1.9%
1.6%
Growth
AMAT TTM and FY2025 · LRCX TTM and FY2026Revenue growth (TTM)
—
—
Revenue growth, consensus next FY
+21.1%
+52.4%
Revenue, 3-year CAGR
3.2%
10.1%
Revenue, 5-year CAGR
10.5%
9.7%
EPS growth (TTM)
—
—
EPS growth, consensus next FY
+48.1%
+67.9%
EPS, 3-year CAGR
5.2%
20.2%
Free cash flow, 3-year CAGR
7.3%
1.5%
Diluted shares, 3-year change
−7.9%
−7.2%
Profitability
AMAT TTM to Jul 2026 · LRCX TTM to Sep 2026Gross margin (FY)†
48.7%
50.5%
Operating margin
30.5%
37.0%
EBITDA margin
37.4%
38.9%
Net margin
30.1%
32.3%
Free-cash-flow margin (FY)
20.1%
21.1%
Return on equity
36.2%
60.8%
Return on assets
21.3%
32.1%
Asset turnover
0.71
0.99
† Gross margin (FY): As filed. Companies draw the cost-of-revenue line in different places, so gross margins of two companies in one industry can differ for that reason alone; operating margin does not depend on where the line is drawn.
Balance sheet
AMAT MRQ Jul 2026 · LRCX MRQ Sep 2026Cash
$7.04B
$7.44B
Total debt
$7.35B
$3.74B
Net debt
$309.0M
−$3.70B
Debt / equity
0.3×
0.3×
Net debt / EBITDA (TTM)
0.0×
-0.4×
Interest coverage (FY)
30.8×
0.0×
Current ratio (FY)
2.61
2.63
Dividends
trailing 12 monthsDividend yield
0.5%
0.5%
Dividends per share
$1.98
$1.11
Payout ratio (of TTM EPS)
17.1%
16.5%
Dividend per share, 5-year CAGR
16.6%
15.5%
Frequency
Quarterly
Quarterly
Ownership and activity
last 90 days · latest 13FTracked superinvestors holding (13F)
12
9
Insider open-market buys (Form 4)
$0
$0
Insider sales (Form 4)
$4.5M
$47.6M
Analyst upgrades
0
0
Analyst downgrades
1
0
Statements
AMAT income TTM to Jul 2026 · cash flow FY2025 · LRCX income TTM to Sep 2026 · cash flow FY2026Revenue
$30.84B
$26.13B
EBITDA
$11.53B
$10.18B
Operating income
$9.41B
$9.65B
Net income
$9.27B
$8.45B
EPS (diluted)
$11.59
$6.71
Operating cash flow
$7.96B
$5.86B
Capital expenditure
−$2.26B
−$966.4M
Free cash flow
$5.70B
$4.89B
Dividends paid
$1.38B
$1.27B
Keep comparing
Applied Materials against
Lam Research against
Statements, prices, dividends and consensus estimates from Financial Modeling Prep; insider trades from Form 4 and holdings from 13F. Refreshed nightly. A comparison of filed numbers, not a recommendation to buy, sell or hold any security.