HIGHBuilt-inGeographic
93%
non-U.S. revenue
“10-K Item 1A: 'Non-U.S. sales...accounted for approximately 93%, 93%, and 91% of total revenue in fiscal years 2025, 2024, and 2023, respectively.'”
LRCX · Concentration risk · 10-K extracted
Lam Research (LRCX) concentration risks
Updated
The most significant concentration Lam Research discloses is non-U.S. revenue at 93%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Lam Research’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH2
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
single-source components
“10-K Item 1: 'Certain components and sub-assemblies that we include in our products may only be obtained from a single supplier.'”
MEDIUMOutside partyCustomer
limited key customers
“10-K Item 1A: 'Sales to a limited number of large customers constitute a significant portion of our overall shipments, revenue, cash flows and profitability.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is anchored by a high-share geographic revenue exposure, compounded by supply-chain and customer dependencies that each carry their own risk dimension. Non-U.S. sales accounted for approximately 93% of total revenue in fiscal year 2025 — a high-share structural concentration reflecting the global nature of semiconductor manufacturing, where the largest logic and memory fabs are predominantly located outside the United States. This is a durable feature of the end-market geography rather than a counterparty-specific risk, but it introduces material sensitivity to export controls, trade restrictions, and regional demand cycles that could simultaneously affect a large portion of the revenue base. On the supply side, certain components and sub-assemblies may only be obtained from a single supplier — a high-share dependency without a disclosed alternative. In a business where equipment uptime and delivery schedules are critical to customer relationship health, a disruption at a sole-source component supplier could cascade into production delays and lost orders. The customer exposure is medium in size: a limited number of large customers constitute a significant portion of shipments, revenue, cash flows, and profitability. No individual customer share is disclosed, but the dependency character signals that order concentration among a small set of large chipmakers amplifies the impact of any single customer's capex decisions. Together, a heavily international revenue mix, sole-source components, and concentrated customer spending represent three overlapping channels through which macro and geopolitical developments could affect results.
For the engine’s reasoning on LRCX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Semiconductor Equipment & Materials
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACLS | Axcelis Technologies, Inc. | 3 | 1 | 0 | 4 |
| ACMR | ACM Research, Inc. | 3 | 0 | 0 | 3 |
| AMBA | Ambarella, Inc. | 3 | 0 | 0 | 3 |
| LRCX● | Lam Research Corporation | 2 | 1 | 0 | 3 |
| AMAT | Applied Materials, Inc. | 2 | 0 | 2 | 4 |
| AMKR | Amkor Technology, Inc. | 1 | 2 | 0 | 3 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.