Lattice Semiconductor vs Rambus
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The short version
- Rambus is the larger business, with $708M of revenue in fiscal 2025 against $523M for Lattice Semiconductor.
- Rambus grew revenue faster (27.1%, against 2.7%).
- Rambus kept more of each dollar of sales as operating profit (36.8% operating margin, against 2.2%).
- Rambus turned more of its sales into free cash flow (47.1% FCF margin, against 25.3%).
- Rambus earned a higher return on the capital invested in it (34.3%, against 1.0%).
| Latest fiscal year | LSCC · FY25 | RMBS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.5B | $9.4B |
| Revenue | $523M | $708M |
| Free cash flow | $133M | $333M |
| Net income | $3.1M | $231M |
| Growth | ||
| Revenue growth | 2.7% | 27.1% |
| 5-year growth | 5.1% | 23.5% |
| Share count change | −0.1% | 0.2% |
| Profitability | ||
| Gross margin | 68.2% | 79.6% |
| Operating margin | 2.2% | 36.8% |
| Net margin | 0.6% | 32.6% |
| FCF margin | 25.3% | 47.1% |
| Return on capital | 1.0% | 34.3% |
| Return on equity | 0.4% | 18.6% |
| Balance sheet | ||
| Net debt | −$134M | −$762M |
| Net debt / EBITDA | −4.0x | — |
| Dividends and buybacks | $100M | $7.1M |
| Valuation & quality | ||
| P/E | — | 40.8x |
| Piotroski F-score | 6 | 5 |
Revenue
FY16
LSCC $427M
RMBS $337M
FY17
LSCC $386M
RMBS $393M
FY18
LSCC $399M
RMBS $231M
FY19
LSCC $404M
RMBS $228M
FY20
LSCC $408M
RMBS $246M
FY21
LSCC $515M
RMBS $328M
FY22
LSCC $660M
RMBS $455M
FY23
LSCC $737M
RMBS $461M
FY24
LSCC $509M
RMBS $557M
FY25
LSCC $523M
RMBS $708M
LSCC
RMBS
Operating margin
FY16
LSCC −6.3%
RMBS 10.0%
FY17
LSCC −12.3%
RMBS 13.8%
FY18
LSCC −0.8%
RMBS −37.6%
FY19
LSCC 14.6%
RMBS −44.0%
FY20
LSCC 12.8%
RMBS −17.9%
FY21
LSCC 19.6%
RMBS 7.4%
FY22
LSCC 28.4%
RMBS 16.9%
FY23
LSCC 28.8%
RMBS 33.3%
FY24
LSCC 6.8%
RMBS 32.9%
FY25
LSCC 2.2%
RMBS 36.8%
LSCC
RMBS
Free cash flow
FY16
LSCC $25.0M
RMBS $87.1M
FY17
LSCC $25.7M
RMBS $108M
FY18
LSCC $43.1M
RMBS $75.5M
FY19
LSCC $109M
RMBS $122M
FY20
LSCC $79.6M
RMBS $156M
FY21
LSCC $158M
RMBS $195M
FY22
LSCC $215M
RMBS $213M
FY23
LSCC $249M
RMBS $173M
FY24
LSCC $120M
RMBS $200M
FY25
LSCC $133M
RMBS $333M
LSCC
RMBS
Return on capital
FY16
LSCC −4.0%
RMBS 3.2%
FY17
LSCC −8.1%
RMBS 5.3%
FY18
LSCC −0.6%
RMBS −9.0%
FY19
LSCC 15.9%
RMBS −7.7%
FY20
LSCC 14.5%
RMBS −4.4%
FY21
LSCC 24.4%
RMBS 4.1%
FY22
LSCC 40.5%
RMBS 14.4%
FY23
LSCC 41.1%
RMBS 28.5%
FY24
LSCC 6.1%
RMBS 26.3%
FY25
LSCC 1.0%
RMBS 34.3%
LSCC
RMBS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.