Monday, 9 November 2026
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Lam Research vs KLA: revenue, margins and valuation

Lam Research and KLA share the equipment model: each supplies production or test equipment and services; customer investment and installed-base demand drive revenue. Latest reported quarterly revenue: Lam Research US$8.2B in Q1 FY2027; KLA US$4.1B in Q1 FY2027.

  • Lam ResearchLRCX
  • KLAKLAC

You can add 1 more.

LRCX · EQ EquipmentNo upcoming date listed
KLAC · EQ EquipmentNo upcoming date listed

Valuation

Market cap

Lam Research. Leader.
KLA.

Trailing P/Elower is better

Lam Research. No dated market figure stored
KLA.

P/Slower is better

Lam Research. No dated market figure stored
KLA.

Growth

Revenue growth

Lam Research. Leader.
KLA.

Peer median (20 companies): 46.5% · 18 with data

Profitability

Gross margin

Lam Research.
KLA. Leader.

Peer median (20 companies): 61.9% · 19 with data

Operating margin

Lam Research.
KLA. Leader.

Peer median (20 companies): 36.8%

Net margin

Lam Research.
KLA. Leader.

Peer median (20 companies): 30.7%

Diluted EPS

Lam Research. Leader.
KLA.

EPS (basic)

Lam Research. Leader.
KLA.

R&D % of revenue

Lam Research.
KLA.

Peer median (20 companies): 9.9% · 18 with data

Scale

Revenue

Lam Research. Leader.
KLA.

Operating income

Lam Research. Leader.
KLA.

Net income

Lam Research. Leader.
KLA.

R&D

Lam Research.
KLA.

Capex

Lam Research.
KLA.

Free cash flow

Lam Research. Leader.
KLA.

Net cash / net debt

Lam Research. Leader.
KLA.

Employees

Lam Research.
KLA. Not stored for this period

Shares outstanding

Lam Research.
KLA.
MetricLam ResearchKLAPeer median(20 companies)
Valuation
Market capLeader.
Trailing P/Elower is better—
P/Slower is better—
Growth
Revenue growthLeader. 46.5%18 with data
Profitability
Gross marginLeader. 61.9%19 with data
Operating marginLeader. 36.8%
Net marginLeader. 30.7%
Diluted EPSLeader.
EPS (basic)Leader.
R&D % of revenue9.9%18 with data
Scale
RevenueLeader.
Operating incomeLeader.
Net incomeLeader.
R&D
Capex
Free cash flowLeader.
Net cash / net debtLeader.
Employees—
Shares outstanding

Valuation

Trailing P/EMultiple (x), trailing twelve months; period under each companyKLA: 53.4x · FY2026 · to 30 Jun 2026 (Calculated)KLA53.4xFY2026 · to 30 Jun 20…Source: company filings, trailing twelve months · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated Price ÷ last four reported quarters of diluted EPS. Loss-making companies show N/M.
View sources (1)

Not shown: Lam Research: No dated market figure stored.

P/SMultiple (x), trailing twelve months; period under each companyKLA: 18.8x · FY2026 · to 30 Jun 2026 (Calculated)KLA18.8xFY2026 · to 30 Jun 20…Source: company filings, trailing twelve months · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated Market cap ÷ trailing-twelve-month revenue.
View sources (1)

Not shown: Lam Research: No dated market figure stored.

Growth

Revenue growthPercent, latest quarter; period under each companyLam Research: 54.4% · Q1 FY2027 · to 27 Sep 2026 (Calculated)Lam Research54.4%Q1 FY2027 · to 27 Sep…KLA: 28.9% · Q1 FY2027 · to 30 Sep 2026 (Calculated)KLA28.9%Q1 FY2027 · to 30 Sep…Peer median (20 companies) 46.5%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated Change versus the same period a year earlier.
View sources (2)

Profitability

Gross marginPercent, latest quarter; period under each companyLam Research: 52.3% · Q1 FY2027 · to 27 Sep 2026 (Calculated)Lam Research52.3%Q1 FY2027 · to 27 Sep…KLA: 61.9% · Q1 FY2027 · to 30 Sep 2026 (Calculated)KLA61.9%Q1 FY2027 · to 30 Sep…Peer median (20 companies) 61.9%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated Gross profit ÷ revenue, GAAP/IFRS unless labelled otherwise.
View sources (2)
Operating marginPercent, latest quarter; period under each companyLam Research: 40.0% · Q1 FY2027 · to 27 Sep 2026 (Calculated)Lam Research40.0%Q1 FY2027 · to 27 Sep…KLA: 45.0% · Q1 FY2027 · to 30 Sep 2026 (Calculated)KLA45.0%Q1 FY2027 · to 30 Sep…Peer median (20 companies) 36.8%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated Operating income ÷ revenue, GAAP/IFRS unless labelled otherwise.
View sources (2)
Net marginPercent, latest quarter; period under each companyLam Research: 33.5% · Q1 FY2027 · to 27 Sep 2026 (Calculated)Lam Research33.5%Q1 FY2027 · to 27 Sep…KLA: 37.4% · Q1 FY2027 · to 30 Sep 2026 (Calculated)KLA37.4%Q1 FY2027 · to 30 Sep…Peer median (20 companies) 30.7%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated Net income ÷ revenue for the same period (Silicon Analytica calculation unless the company states it).
View sources (2)
R&D % of revenuePercent, latest quarter; period under each companyLam Research: 8.1% · Q1 FY2027 · to 27 Sep 2026 (Calculated)Lam Research8.1%Q1 FY2027 · to 27 Sep…KLA: 9.6% · Q1 FY2027 · to 30 Sep 2026 (Calculated)KLA9.6%Q1 FY2027 · to 30 Sep…Peer median (20 companies) 9.9%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
  • Calculated R&D ÷ revenue for the same period.
View sources (2)

Scale

RevenueUS$, latest quarter; period under each companyLam Research: US$8.2B · Q1 FY2027 · to 27 Sep 2026 (Reported)Lam ResearchUS$8.2BQ1 FY2027 · to 27 Sep…KLA: US$4.1B · Q1 FY2027 · to 30 Sep 2026 (Reported)KLAUS$4.1BQ1 FY2027 · to 30 Sep…Source: company filings, latest quarterSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-kla
View sources (2)

Revenue mix

Lam Research

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KLA

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Each company's own classification and latest fiscal year with a stored split; categories differ between companies and are never added together.

Period ends — Lam Research: 27 Sep 2026 · KLA: 30 Sep 2026. Valuation multiples remain trailing.

Copper underline: the leader among values for comparable periods. Higher is better, except P/E and P/S, where the lower positive multiple leads. R&D, capex, employees and shares have no leader. Peer median uses the latest quarter of the 20 covered companies and is shown for ratios only. “—” means neither the figure nor its inputs are stored; hover or tap for the missing input. Values marked Calculated are Silicon Analytica calculations from stored reported figures.

How to read this comparison

Business models. These companies share the equipment model and are broadly comparable, subject to product mix and definitions. Lam Research supplies production or test equipment and services; customer investment and installed-base demand drive revenue; KLA supplies production or test equipment and services; customer investment and installed-base demand drive revenue.

Cyclicality. Lam Research (equipment) · KLA (equipment): earnings are sensitive to capacity, utilisation and the investment or demand cycle. Trailing multiples can be distorted by peak or trough earnings.

Accounting and periods. Latest reported quarter ends — Lam Research: 2026-09-27 · KLA: 2026-09-30. Each value retains its period, status and source; adjusted measures remain separate. Same-mode periods within 100 days are compared; valuation multiples remain trailing.

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Lam Research profile · KLA profile