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

Lam Research and Tokyo Electron 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; Tokyo Electron ¥935.1B (≈US$5.9B) in Q2 FY2027.

  • Lam ResearchLRCX
  • Tokyo Electron8035

You can add 1 more.

LRCX · EQ EquipmentNo upcoming date listed
8035 · EQ EquipmentNo upcoming date listed

Valuation

Market cap

Lam Research. Leader.
Tokyo Electron.

Growth

Revenue growth

Lam Research. Leader.
Tokyo Electron.

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

Profitability

Gross margin

Lam Research. Leader.
Tokyo Electron.

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

Operating margin

Lam Research. Leader.
Tokyo Electron.

Peer median (20 companies): 36.8%

Net margin

Lam Research. Leader.
Tokyo Electron.

Peer median (20 companies): 30.7%

Diluted EPS

Lam Research.
Tokyo Electron. Diluted EPS not stored for Q2 FY2027

EPS (basic)

Lam Research.
Tokyo Electron. Not stored for this period

R&D % of revenue

Lam Research.
Tokyo Electron.

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

Scale

Revenue

Lam Research. Leader.
Tokyo Electron.

Operating income

Lam Research. Leader.
Tokyo Electron.

Net income

Lam Research. Leader.
Tokyo Electron.

R&D

Lam Research.
Tokyo Electron.

Capex

Lam Research.
Tokyo Electron. Capex not stored for Q2 FY2027

Free cash flow

Lam Research.
Tokyo Electron. Operating cash flow and capex not stored for Q2 FY2027

Net cash / net debt

Lam Research.
Tokyo Electron. Not stored for this period

Employees

Lam Research.
Tokyo Electron. Not stored for this period

Shares outstanding

Lam Research.
Tokyo Electron.
MetricLam ResearchTokyo ElectronPeer median(20 companies)
Valuation
Market capLeader.
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 EPS—
EPS (basic)—
R&D % of revenue9.9%18 with data
Scale
RevenueLeader.
Operating incomeLeader.
Net incomeLeader.
R&D
Capex—
Free cash flow—
Net cash / net debt—
Employees—
Shares outstanding

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…Tokyo Electron: 48.4% · Q2 FY2027 · to 30 Sep 2026 (Calculated)Tokyo Electron48.4%Q2 FY2027 · to 30 Sep…Peer median (20 companies) 46.5%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-tokyo-electron
  • 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…Tokyo Electron: 47.8% · Q2 FY2027 · to 30 Sep 2026 (Calculated)Tokyo Electron47.8%Q2 FY2027 · to 30 Sep…Peer median (20 companies) 61.9%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-tokyo-electron
  • 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…Tokyo Electron: 31.6% · Q2 FY2027 · to 30 Sep 2026 (Calculated)Tokyo Electron31.6%Q2 FY2027 · to 30 Sep…Peer median (20 companies) 36.8%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-tokyo-electron
  • 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…Tokyo Electron: 22.7% · Q2 FY2027 · to 30 Sep 2026 (Calculated)Tokyo Electron22.7%Q2 FY2027 · to 30 Sep…Peer median (20 companies) 30.7%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-tokyo-electron
  • 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…Tokyo Electron: 9.1% · Q2 FY2027 · to 30 Sep 2026 (Calculated)Tokyo Electron9.1%Q2 FY2027 · to 30 Sep…Peer median (20 companies) 9.9%Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-tokyo-electron
  • 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…Tokyo Electron: ≈US$5.9B · Q2 FY2027 · to 30 Sep 2026 (Calculated, approximate US$)Tokyo Electron≈US$5.9BQ2 FY2027 · to 30 Sep…Source: company filings, latest quarter · Silicon Analytica calculationsSilicon Analyticasiliconanalytica.com/compare/lam-research-vs-tokyo-electron
  • Calculated Reported revenue for the stated period.
  • Calculated ≈US$ for non-US$ reporters uses the stored conversion for each value; reporting-currency figures are in the table view.
View sources (2)

Revenue mix

Lam Research

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Tokyo Electron

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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 · Tokyo Electron: 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; Tokyo Electron supplies production or test equipment and services; customer investment and installed-base demand drive revenue.

Cyclicality. Lam Research (equipment) · Tokyo Electron (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 · Tokyo Electron: 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 · Tokyo Electron profile