LRCX · 10-K · 2026A · Full report

Gross Margin Drivers

LAM RESEARCH CORP · 2026-08-07 · Importance 64 · Surprise 56

Fiscal 2026 gross margin increased $2.746 billion, or 30.6%, to $11.725 billion from $8.979 billion in fiscal 2025. Gross margin as a percentage of revenue increased 180 basis points to 50.5% from 48.7%. The margin expansion was largely attributable to favorable customer mix. Aluminum and steel tariff-related spending partially offset the customer-mix benefit.

Key facts

• Gross margin for fiscal year 2026: $11,725,308 (in thousands) source
• Gross margin as a percent of total revenue in fiscal year 2026: 50.5% source
• Gross margin for fiscal year 2025: $8,979,059 (in thousands) source
• Gross margin as a percent of total revenue in fiscal year 2025: 48.7% source
• Increase in gross margin percent (+180 basis points) in fiscal year 2026 was largely due to favorable customer mix, partially offset by aluminum and steel tariff-related spend source