LRCX · 10-K · 2026A · Full report

Capital Return Program

LAM RESEARCH CORP · 2026-08-07 · Importance 47 · Surprise 22 · Matches filing data

Lam Research repurchased $3.85 billion of common stock in fiscal 2026, including net share settlement of employee stock-based compensation, compared with $3.42 billion in fiscal 2025. Dividends paid increased to $1.27 billion in fiscal 2026 from $1.15 billion in fiscal 2025, reflecting a higher dividend rate. Financing cash use increased $781.1 million to $5.72 billion, primarily because of higher repurchases, debt maturities, and dividends. The company expects to fund future dividends and repurchases with operating cash flow, existing cash, and available short- and long-term financing.

Key facts

• Cash flows provided from operating activities in fiscal year 2026 were primarily used for $3.85 billion in treasury stock purchases (including net share settlement of employee stock-based compensation); $1.27 billion in dividends paid; $966.4 million of capital expenditures; and $755.4 million of principal payment on debt instruments and debt issuance costs source
• Net cash used for financing activities during fiscal year 2026: $5.72 billion, primarily consisting of $3.85 billion in Common Stock repurchases, $1.27 billion of dividends paid, and $755.4 million of principal payments on debt instruments and debt issuance costs; partially offset by $173.4 million of stock issuance and treasury stock reissuances source
• The company defines free cash flow as net cash provided by operating activities less cash used for capital expenditures and intangible assets and expects to fund capital return activities through future cash from operations, existing cash, and/or short- and long-term financing source
• The increase of $781.1 million in net cash used for financing activities in fiscal year 2026 versus fiscal year 2025 was primarily due to increased Common Stock repurchase activity, principal payments on debt instruments resulting from maturities of 2026 Senior Notes, and higher dividends paid associated with an increased dividend rate source
• Net cash used for financing activities during fiscal year 2025: $4.94 billion, primarily consisting of $3.42 billion in Common Stock repurchases, $1.15 billion of dividends paid, and $507.5 million of principal payments on debt instruments and debt issuance costs; partially offset by $142.6 million of stock issuance and treasury stock reissuances source

Impact estimates