HIGHBuilt-inGeographic
93%
Non-U.S. sales
“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'”
LRCX · Concentration risk · 10-K extracted
Lam Research (LRCX) concentration risks
Updated
The most significant concentration Lam Research discloses is Non-U.S. sales 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.
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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 · 5 disclosed concentrations
HIGH2
MEDIUM3
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 supplier 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
Samsung Electronics Company, Ltd. and Taiwan Semiconductor Manufacturing Company
“10-K Item 1: 'Our most significant customers during the fiscal years ending June 29, 2025 ... included Samsung Electronics Company, Ltd. and Taiwan Semiconductor Manufacturing Company'”
MEDIUMOutside partyCustomer
limited number of large 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.'”
MEDIUMBuilt-inGeographic
China
“10-K Item 1: 'Our Sales to Customers in China, a Significant Region for Us, Have Been Impacted, and are Likely to be Materially and Adversely Affected by Export License Requirements'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-10-11Lam Research is exposed mainly through geography and a narrow customer base. Non-U.S. sales accounted for approximately 93% of total revenue in fiscal 2025, matching the 93% of fiscal 2024 and up from 91% in fiscal 2023. Within that, the filing singles out China as a significant region whose sales have been impacted, and are likely to be materially and adversely affected, by export license requirements. These are structural, policy-driven exposures that sit largely outside management's control. Customer concentration is a dependency layer on top. Sales to a limited number of large customers constitute a significant portion of overall shipments, revenue, cash flows and profitability, with Samsung Electronics Company, Ltd. and Taiwan Semiconductor Manufacturing Company named among the most significant customers. On the supply side, certain components and sub-assemblies may only be obtained from a single supplier, the most idiosyncratic risk because a single disruption could constrain shipments. Netted together, geography and export policy set the structural backdrop, while the customer and single-supplier dependencies are where discrete events could move the verdict. All are disclosed in the 10-K.
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 | 3 | 0 | 5 |
| AMAT | Applied Materials, Inc. | 2 | 0 | 2 | 4 |
| AEHR | Aehr Test Systems | 1 | 0 | 0 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.