Lam Research is one of the largest semiconductor wafer fabrication equipment, or WFE, manufacturers in the world. It specializes in the market segments of 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 cut 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.

Financial Strength

8/10

Name	Current	Vs Industry
Cash-To-Debt	1.14
Equity-to-Asset	0.44
Debt-to-Equity	0.62
Debt-to-EBITDA	1.08
Interest Coverage	21.65
Piotroski F-Score	6/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	12.06	Distress Grey Safe
Beneish M-Score	-3.18	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

10/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	24
	3-Year EBITDA Growth Rate	27
	3-Year EPS without NRI Growth Rate	30.3
	3-Year FCF Growth Rate	38.7
	3-Year Book Growth Rate	20
	Future 3-5Y EPS without NRI Growth Rate	10.92
	Future 3-5Y Total Revenue Growth Rate	11.4

Momentum Rank

9/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	62.41
	9-Day RSI	62.82
	14-Day RSI	62.7
	6-1 Month Momentum %	23
	12-1 Month Momentum %	51.24

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	2.82
	Quick Ratio	1.84
	Cash Ratio	1.28
	Days Inventory	223.7
	Days Sales Outstanding	70.78
	Days Payable	25.38

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	0.75
	Dividend Payout Ratio	0.28
	3-Year Dividend Growth Rate	14.5
	Forward Dividend Yield %	0.75
	5-Year Yield-on-Cost %	1.77
	3-Year Average Share Buyback Ratio	2.8
	Shareholder Yield %	3.15

Profitability Rank

10/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	46.84
	Operating Margin %	28.18
	Net Margin %	25.35
	FCF Margin %	31.87
	ROE %	44.12
	ROA %	19.28
	ROIC %	29.4
	ROC (Joel Greenblatt) %	77.67
	ROCE %	29.53
	Years of Profitability over Past 10-Year	10

GF Value Rank

1/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	39.13
	Forward PE Ratio	29.24
	PE Ratio without NRI	38.03
	Shiller PE Ratio	52.93
	Price-to-Owner-Earnings	32.79
	PEG Ratio	1.81
	PS Ratio	9.92
	PB Ratio	17.34
	Price-to-Tangible-Book	22.25
	Price-to-Free-Cash-Flow	31.11
	Price-to-Operating-Cash-Flow	28.74
	EV-to-EBIT	32.53
	EV-to-Forward-EBIT	25.18
	EV-to-EBITDA	29.99
	EV-to-Forward-EBITDA	23.77
	EV-to-Revenue	9.72
	EV-to-Forward-Revenue	7.67
	EV-to-FCF	30.5
	Price-to-Projected-FCF	2.55
	Price-to-DCF (Earnings Based)	1.22
	Price-to-DCF (FCF Based)	1
	Price-to-Median-PS-Value	2.72
	Price-to-Peter-Lynch-Fair-Value	1.81
	Price-to-Graham-Number	6.13
	Price-to-Net-Current-Asset-Value	62.37
	Earnings Yield (Greenblatt) %	3.07
	FCF Yield %	3.26
	Forward Rate of Return (Yacktman) %	22.24

GF Value: $551.29

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