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, respectively.'”
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.
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 supplier for certain components and sub-assemblies
“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 and Taiwan Semiconductor Manufacturing Company
“10-K Item 1: 'Our most significant customers during the fiscal years ending June 29, 2025, June 30, 2024, and June 25, 2023 included Samsung Electronics Company, Ltd. and Taiwan Semiconductor Manufacturing Company.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-23Lam Research's concentration risk is led by its overwhelming reliance on non-U.S. demand. Non-U.S. sales accounted for approximately 93% of total revenue in both fiscal 2025 and fiscal 2024, up from 91% in fiscal 2023 — a high-share, structural exposure reflecting where global semiconductor capital equipment demand actually sits rather than dependence on any single customer. On the supply side, certain components and sub-assemblies may only be obtained from a single supplier, a high-share dependency that could disrupt production if that relationship were interrupted, with no diversified alternative disclosed. Customer concentration is present but more moderate: Lam's most significant customers in the recent fiscal years included Samsung Electronics and Taiwan Semiconductor Manufacturing Company, a medium-share dependency on two of the largest foundry and memory players globally. Netted together, the non-U.S. sales concentration is the dominant, macro-structural exposure — tied to the global geography of chip manufacturing rather than any counterparty — while the single-supplier dependency and the Samsung/TSMC customer relationships are the more idiosyncratic risks, where a disruption at one specific supplier or a pullback in capital spending by either named customer would be felt directly rather than diffused across a broad base.
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 |
| AEHR | Aehr Test Systems | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.