Lam ResearchLRCX -5.66%85 Piotroski F-Score is 9 as of Jun. 27, 2026, which is 50% above its 10-year median of 6.00. GuruFocus rates LRCX with a GF Score™ of 85/100 and a GF Value™ of $130.59 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 990 Semiconductors companies, Lam Research ranks better than 99.9% on this metric.
Good Sign:
Piotroski F-Score is 9, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Lam Research has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Lam Research's Piotroski F-Score or its related term are showing as below:
LRCX'
s Piotroski F-Score Range Over the Past 10 Years
Min: 5 Med: 6 Max: 9
Current: 9
During the past 13 years, the highest Piotroski F-Score of Lam Research was 9. The lowest was 5. And the median was 6.
Lam Research (NAS:LRCX) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Lam Research Piotroski F-Score Related Terms
Lam Research Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Lam Research's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
LRCX vs AMAT, KLAC, TER: Piotroski F-Score Comparison
For the Semiconductor Equipment & Materials subindustry, Lam Research's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lam Research Piotroski F-Score vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Lam Research's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Lam Research's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 1720.088 + 1568.66 + 1593.994 + 1825.46 = $6,708 Mil. Cash Flow from Operations was 2554.188 + 1778.964 + 1480.045 + 1141.42 = $6,955 Mil. Revenue was 5171.393 + 5324.173 + 5344.791 + 5841.488 = $21,682 Mil. Gross Profit was 2589.709 + 2684.879 + 2651.162 + 2910.527 = $10,836 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(19968.31 + 21345.26 + 21900.211 + 21391.171 + 20791.91) / 5 = $21079.3724 Mil. Total Assets at the begining of this year (Mar25) was $19,968 Mil. Long-Term Debt & Capital Lease Obligation was $3,730 Mil. Total Current Assets was $13,297 Mil. Total Current Liabilities was $5,242 Mil.
Net Income was 1020.282 + 1116.444 + 1191.018 + 1330.667 = $4,658 Mil.
Revenue was 3871.507 + 4167.976 + 4376.047 + 4720.175 = $17,136 Mil. Gross Profit was 1840.098 + 2002.683 + 2072.981 + 2313.686 = $8,229 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(18279.65 + 18744.728 + 19532.489 + 19839.916 + 19968.31) / 5 = $19273.0186 Mil. Total Assets at the begining of last year (Mar24) was $18,280 Mil. Long-Term Debt & Capital Lease Obligation was $3,730 Mil. Total Current Assets was $13,460 Mil. Total Current Liabilities was $5,490 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Lam Research's current Net Income (TTM) was 6,708.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Lam Research's return on assets of this year was 0.3359424. Lam Research's return on assets of last year was 0.25484137.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Lam Research's gearing of this year was 0.17696846. Lam Research's gearing of last year was 0.19353657.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Lam Research's current ratio of this year was 2.53641883. Lam Research's current ratio of last year was 2.45185829.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Lam Research's number of shares in issue this year was 1257.325. Lam Research's number of shares in issue last year was 1288.1.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Lam Research's gross margin of this year was 0.49978574. Lam Research's gross margin of last year was 0.4802515.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Lam Research's asset turnover of this year was 1.08581272. Lam Research's asset turnover of last year was 0.93741975.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Lam Research has an F-score of 9. It is a good or high score, which usually indicates a very healthy situation.
Lam Research (LRCX) has a Piotroski F-Score of 9 as of Jun. 27, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Lam Research and its competitors. This is 50% above median its historical median of 6.00. Over the past decade, Lam Research's Piotroski F-Score has ranged from 5.00 to 9.00. According to the industry distribution chart, Lam Research ranks #1 out of 990 companies in the Semiconductors industry, placing it in the top 0.099999999999994%.
Is Lam Research's Piotroski F-Score too high?
Lam Research's current Piotroski F-Score of 9 is 50% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 9.00. The Semiconductors industry median Piotroski F-Score is 5.00. Lam Research's value of 9 is 80% above this industry median. Based on the distribution chart, Lam Research ranks #1 out of 990 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Lam Research has a GF Score™ of 85/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lam Research's Piotroski F-Score compare to AMAT and KLAC?
According to the Semiconductors industry distribution chart, Lam Research ranks #1 out of 990 companies for Piotroski F-Score. This places Lam Research in the top 0% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.00. Lam Research's value of 9 is 80% above this benchmark. Historically, Lam Research's own Piotroski F-Score has ranged from 5.00 to 9.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, Lam Research has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Semiconductors company?
The median Piotroski F-Score among Semiconductors companies is 5.00, based on 990 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Lam Research's current Piotroski F-Score of 9 is 80% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Lam Research and its competitors. For the Semiconductors industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Lam Research's current Piotroski F-Score is 9, which is 50% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lam Research stock overvalued right now?
Based on GuruFocus' analysis, Lam Research (LRCX) is currently considered Significantly Overvalued. The stock's GF Value™ is $130.59, compared to a current price of $379.09 — trading 190.3% above its estimated fair value. The current Piotroski F-Score is 9, which is 50% above median its 10-year median of 6.00 and 80% above the Semiconductors industry median of 5.00. Lam Research's overall GF Score™ is 85/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Lam Research (LRCX), the current Piotroski F-Score is 9 as of Jun. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Lam Research (LRCX) Overvalued in 2026?
Based on GuruFocus' analysis, Lam Research stock appears to be overvalued.
The current stock price of $379.09 is trading 190.3% above its estimated GF Value™ of $130.59.
GuruFocus considers Lam Research to be Significantly Overvalued.
Key valuation signals for LRCX:
Piotroski F-Score: 9 (50% above median its 10-year median of 6.00)
GF Value™: $130.59 vs. price of $379.09 (190.3% above fair value)
Industry Position: 80% above the Semiconductors median (#1 of 990)
No single metric tells the full story. See the LRCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lam Research is one of the largest semiconductor wafer fabrication equipment manufacturers in the world. It specializes in deposition and etch, which entail the buildup of layers on a semiconductor and the subsequent selective removal of patterns from each layer. Lam holds the top market share in etch and holds the clear second share in deposition. It is more exposed to memory chipmakers for DRAM and NAND chips. It counts as top customers the largest chipmakers in the world, including TSMC, Samsung, Intel, and Micron.
85GF Score
Get the complete analysis for LRCX
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