LRCX
Lam Research Corporation
LRCX's outlook is improving, though it still trails on the overall score.
NVDA
NVIDIA Corporation
NVDA has the edge over LRCX overall, supported by stronger valuation and stronger modeled upside.
LRCX Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
LRCX's revenue, profitability, cash flow and balance sheet are all currently strong.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
LRCX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $109 | -53% |
| Forward | 23x | $234 | — |
| Fair | 24x | $161 | -31% |
| Expensive | 35x | $236 | +0.9% |
| Current | 35x | $234 | — |
Historical ranges are pointers, not guarantees.
LRCX's PE is in its expensive range at 35x. If earnings grow as analysts expect, today's price would be 23x next year's earnings, in its fair range.
NVDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $166 | — |
| Current | 21x | $166 | — |
| Cheap | 44x | $345 | +108% |
| Fair | 65x | $511 | +207% |
| Expensive | 93x | $734 | +342% |
Historical ranges are pointers, not guarantees.
NVDA has the edge over LRCX in the historical PE scenario, which offers more potential upside but is not a forecast.
LRCX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
LRCX has the edge over NVDA on the outlook, with more favorable profitability expectations.
NVDA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for NVDA, but weaker profitability.
LRCX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.20 | +52% |
| Q3 2026 | $6.71 | +48% |
| Q2 2026 | $5.76 | +39% |
| Q1 2026 | $5.29 | +47% |
| Q4 2025 | $4.87 | +48% |
| Q3 2025 | $4.53 | +47% |
| Q2 2025 | $4.15 | +43% |
| Q1 2025 | $3.59 | +32% |
| Q4 2024 | $3.29 | +27% |
LRCX's earnings per share have climbed steadily: $6.71 over the past year, up 48% from the year before, and higher year over year for nine quarters in a row.
NVDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +74% |
| Q3 2026 | $7.91 | +125% |
| Q2 2026 | $6.53 | +111% |
| Q1 2026 | $4.90 | +67% |
| Q4 2025 | $4.03 | +59% |
| Q3 2025 | $3.51 | +65% |
| Q2 2025 | $3.10 | +81% |
| Q1 2025 | $2.94 | +147% |
| Q4 2024 | $2.54 | +234% |
NVDA has the edge over LRCX on earnings, with stronger typical year-over-year growth.
LRCX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $8.2B | +54% |
| Q2 2026 | $6.7B | +30% |
| Q1 2026 | $5.8B | +24% |
| Q4 2025 | $5.3B | +22% |
| Q3 2025 | $5.3B | +28% |
| Q2 2025 | $5.2B | +34% |
| Q1 2025 | $4.7B | +24% |
| Q4 2024 | $4.4B | +16% |
LRCX's revenue has grown year over year for 10 quarters in a row: $8.2B last quarter, up 54% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | +5.6 points |
| Q2 2026 | 37% | +3.7 points |
| Q1 2026 | 35% | +1.9 points |
| Q4 2025 | 34% | +3.4 points |
| Q3 2025 | 34% | +4 points |
| Q2 2025 | 34% | +4.6 points |
| Q1 2025 | 33% | +5.2 points |
| Q4 2024 | 30% | +2.4 points |
LRCX's operating margin was 40% last quarter, up 5.6 points from the same quarter a year ago, near the top of its range since 2019.
NVDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $96.2B | +106% |
| Q2 2026 | $81.6B | +85% |
| Q1 2026 | $68.1B | +73% |
| Q4 2025 | $57B | +62% |
| Q3 2025 | $46.7B | +56% |
| Q2 2025 | $44.1B | +69% |
| Q1 2025 | $39.3B | +78% |
| Q4 2024 | $35.1B | +94% |
NVDA has the edge over LRCX on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +5.4 points |
| Q2 2026 | 66% | +17 points |
| Q1 2026 | 65% | +3.9 points |
| Q4 2025 | 63% | +0.8 points |
| Q3 2025 | 61% | -1.2 points |
| Q2 2025 | 49% | -16 points |
| Q1 2025 | 61% | -0.5 points |
| Q4 2024 | 62% | +4.9 points |
NVDA has the edge over LRCX on profitability, with a higher operating margin.
LRCX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.2B | +103% |
| Q2 2026 | $1.3B | -47% |
| Q1 2026 | $809.8M | -21% |
| Q4 2025 | $1.2B | +120% |
| Q3 2025 | $1.6B | +9.3% |
| Q2 2025 | $2.4B | +213% |
| Q1 2025 | $1B | -20% |
| Q4 2024 | $553.6M | -59% |
LRCX's free cash flow has been positive every quarter for seven years: $6.5B over the past year, up 18% from the year before.
NVDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.4B | +59% |
| Q2 2026 | $48.6B | +86% |
| Q1 2026 | $34.9B | +124% |
| Q4 2025 | $22.1B | +32% |
| Q3 2025 | $13.5B | -0.3% |
| Q2 2025 | $26.2B | +75% |
| Q1 2025 | $15.6B | +38% |
| Q3 2024 | $13.5B | +113% |
NVDA has the edge over LRCX on cash flow, with more consistent year-over-year improvement.
LRCX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -5.3M shares |
| 1 year | -1.1% | -13.5M shares |
| 3 years | -5.7% | -75.9M shares |
| 5 years | -12% | -170M shares |
| Available history | -16% | -245M shares |
LRCX has the edge over NVDA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1B |
| Q2 2026 | $246.6M |
| Q1 2026 | $1.2B |
| Q4 2025 | $1.5B |
| Q3 2025 | $975.8M |
| Q2 2025 | $1.3B |
| Q1 2025 | $435.3M |
| Q4 2024 | $697.7M |
LRCX spent $3.9B buying back its own shares over the past year, up 15% from the year before.
NVDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -106M shares |
| 1 year | -1% | -247M shares |
| 3 years | -2.8% | -705M shares |
| 5 years | -4.1% | -1B shares |
| Available history | -1.8% | -435M shares |
NVDA has 24.3B diluted shares, down 1% from a year ago, with $55.3B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7B |
| Q2 2026 | $19.3B |
| Q1 2026 | $3.8B |
| Q4 2025 | $12.5B |
| Q3 2025 | $9.7B |
| Q2 2025 | $14.1B |
| Q1 2025 | $7.8B |
| Q4 2024 | $11B |
NVDA spent $55.3B buying back its own shares over the past year, up 30% from the year before.
LRCX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.1x | Net Cash |
LRCX has the edge over NVDA on leverage, with a lower net debt burden relative to earnings.
NVDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
NVDA's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
LRCX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.5 | Neutral |
| Stochastic | 16.7 | Oversold |
LRCX's weekly RSI is 43 (neutral) and its Stochastic is 17 (oversold).
NVDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 18.1 | Oversold |
NVDA's weekly RSI is 33 (neutral) and its Stochastic is 18 (oversold).
LRCX PE vs Technology Sector
| Metric | LRCX | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 28x | 25% above |
| PE % | 82 | 35 | 47 pts above |
LRCX is trading at 35x earnings, a 25% premium to the Technology sector's median of 28x.
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA has the edge over LRCX on valuation relative to its sector.
LRCX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $268.6 | 13% below |
| 20 week MA | $295.8 | 21% below |
| 50 week MA | $267.5 | 13% below |
| 100 week MA | $182.7 | 28% above |
| 200 week MA | $128.3 | 82% above |
LRCX has the edge over NVDA on trend strength, trading above more of its moving averages.
NVDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $208.9 | 20% below |
| 20 week MA | $212.0 | 22% below |
| 50 week MA | $199.9 | 17% below |
| 100 week MA | $175.1 | 5.1% below |
| 200 week MA | $123.6 | 34% above |
NVDA has fallen below most of its moving averages, though it's still 34% above its 200-week average.
LRCX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.4 | $48.0 | +64% |
| 2021 | $48.0 | $69.9 | +45% |
| 2022 | $69.9 | $41.2 | -41% |
| 2023 | $41.2 | $78.3 | +90% |
| 2024 | $78.3 | $73.4 | -6.3% |
| 2025 | $73.4 | $178.1 | +143% |
| 2026 YTD | $178.1 | $233.8 | +31% |
LRCX has the edge over NVDA on returns for 2026, with the stronger performance.
NVDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.92 | $13.0 | +119% |
| 2021 | $13.0 | $29.6 | +128% |
| 2022 | $29.6 | $15.2 | -49% |
| 2023 | $15.2 | $49.5 | +226% |
| 2024 | $49.5 | $137.0 | +177% |
| 2025 | $137.0 | $190.5 | +39% |
| 2026 YTD | $190.5 | $166.2 | -13% |
NVDA's yearly returns have swung widely, from +226% in 2023 to −49% in 2022. It's down 13% so far in 2026.