If Robots Do All the Work, Who Gets Paid?
If machines do the work, who gets paid? Every economy has been built on whatever made wealth at the time. The record on jobs and pay, the arguments on both sides, and four answers to who owns the machines.
Lam ResearchLRCX
Makes the deposition and etching machines that build up and carve the layers of a chip during manufacturing.
Share price
Key figures, last 12 months
- Market cap
- $250.2bn at 200.33, 6 November 2026
- Revenue growth
- +33.4% on $26.1bn of revenue
- Operating margin
- 37.0% +3.9 pts on a year earlier
- Free cash flow margin
- 25.0% −3.3 pts on a year earlier
- ROIC
- 52.0%
Financial metrics
- Revenue
- $26.1bn +33.4% on a year earlier
- Net income
- $8.4bn +45.4% on a year earlier
- Earnings per share
- $6.73
- Price to earnings
- 29.8×
- Free cash flow
- $6.5bn +17.8% on a year earlier
- Profit turned into cash
- 77.4%
- Spending on build-out
- 4.0% −0.3 pts on a year earlier
- Cash and investments
- $7.4bn
- Total debt
- $3.7bn
- Net cash
- $3.7bn
- Debt to equity
- 0.27×
- Shares (diluted)
- 1.26bn −1.1% on a year earlier
Revenue by financial year
Latest filings
- Quarterly report to 27 September 202622 October 2026
- Annual report to 28 June 20267 August 2026
- Quarterly report to 29 March 202623 April 2026
Coming soon
Hindsight Analysis
A closer look at Lam Research’s finances: what the figures reveal, the risks they show, and how the company’s promises compare with its results.
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