Lam Research

As of December 28, 2025 Lam held about 6.2 billion dollars in cash and cash equivalents versus approximately 4.47 billion dollars of total debt at FY2025 year end, implying net cash and robust liquidity.

TTM free cash flow of about 6.22 billion dollars and capex of roughly 0.9 billion dollars indicate an asset‑light model with ample coverage for R&D, buybacks and dividends. Deferred revenue was about 2.25 billion dollars in December, providing near‑term visibility. The balance sheet and cash generation appear resilient against downturns.