LRCX · 10-K · 2026A · Full report
Liquidity and Cash Position
LAM RESEARCH CORP · 2026-08-07 · Importance 47 · Surprise 22 · From source text
Cash, cash equivalents, and restricted cash declined to approximately $5.60 billion at June 28, 2026, from $6.41 billion at June 29, 2025. Fiscal 2026 operating cash flow was $5.858 billion, compared with $6.173 billion in fiscal 2025. Cash was primarily used for $3.85 billion of treasury stock purchases, $1.27 billion of dividends, $966.4 million of capital expenditures, and $755.4 million of debt principal payments and issuance costs. Management stated that operating cash flow and existing cash were expected to cover operations, investments, debt service, capital returns, and dividends for at least the next twelve months.
Key facts
- Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96 billion and inventory of $93.9 million, combined with decreases in deferred gross profit of $286.4 million, and accrued expenses and other liabilities of $39.3 million source
- Company expects anticipated cash flows from operations plus cash and cash equivalents as of June 28, 2026 to be sufficient to support operations, investments, debt service, capital expenditures, capital redistributions, and dividends through at least the next twelve months source
- Cash and cash equivalents and restricted cash balances as of June 28, 2026: approximately $5.60 billion, compared to $6.41 billion as of June 29, 2025 source
- Net cash provided by operating activities for fiscal year 2026: $5,857,657 (in thousands) versus $6,173,264 (in thousands) for fiscal year 2025 source
- Sources of cash in fiscal year 2026 included an increase in accounts payable of $417.5 million and decrease in prepaid expenses and other current assets of $50.2 million source
- Decrease of $315.6 million in net cash provided by operating activities in fiscal year 2026 versus fiscal year 2025 was primarily due to fluctuations in accounts receivable and deferred gross profit, partially offset by an increase in net income source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -8.3% | Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96… |
| cash | negative | realized | -3.4% | Cash and cash equivalents and restricted cash balances as of June 28, 2026: approximately $5.60 billion, compared to $6.41 billion as of… |
| cash | negative | realized | -1.3% | Net cash provided by operating activities for fiscal year 2026: $5,857,657 (in thousands) versus $6,173,264 (in thousands) for fiscal year… |
| cash | negative | realized | -1.2% | Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96… |
| liability | positive | realized | +1.2% | Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96… |
| cash | negative | realized | -0.4% | Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96… |
| cash | negative | realized | -0.2% | Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96… |
| liability | positive | realized | +0.2% | Significant uses of cash in operating asset and liability accounts in fiscal year 2026 included increases in accounts receivable of $1.96… |