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Not Investment Advice

KLAC

NASDAQ · USD
KLA Corporation
Technology · Semiconductors
CEO Richard Wallace Employees 17,000 R&D / revenue 11.3%
Last price
$165.74−5.00%last session
Market cap
$216.3B
P/E (TTM)
45.0x
From 52w high
−46.1%
From 52w low
+54.6%
1-year return
+51.7%
RSI 14 · vs SMA200
31.1 · −8.3%
IS score
72.1/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

KLAC   SPY   XLK (sector ETF) · weekly closes
100150200250Jan 26Apr 26Jul 26Oct 26KLAC 152XLK 129SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
98
Profitability
71
Growth
40
Value
76
Momentum
100
Risk (safety)
80
Quality
84
Balance sheet
57
Earnings quality

Flags

Strengths
✓ Congress buying
Warnings
None of the computed warning flags fires for KLAC (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Wide, Efficient ScalePiotroski 7 / 9Altman Z 23.2Beta 1.443 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
20 open-market sales, $96.5M
Form 144 notices (12m): 21, $118.1M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
3
Last disclosed purchase 2026-09-23
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+413
525 new holders, 88 closed
2,496 filers hold 92.0% · 1,952 added, 10 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+381
1,859 funds adding shares
1,478 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
19.1%
20-day avg 37.0%, 50-day avg 38.8%
Latest 17.9 pp under its 20-day average · a flow, not short interest

Key financials · FY2026

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$13.6B
Revenue growth YoY+11.7%
Gross margin61.3%
Operating income$5.7B
Operating margin41.7%
Net income$4.8B
Net margin35.6%
EPS (diluted)$3.66
Cash flow
Operating cash flow$4.1B
Capital expenditure$375.9M
Free cash flow$3.8B
FCF conversion (FCF / OCF)90.9%
Stock-based compensation$310.2M
FCF less SBC$3.5B
Buybacks$2.3B
Dividends$1.1B
Balance sheet & returns
Cash & short-term investments$4.9B
Total debt$5.9B
Net debt$985.0M
Shareholders' equity$6.3B
Goodwill & intangibles$2.0B
Debt / equity0.97
ROE (TTM)85.4%
ROIC (TTM)35.6%
Operating margin by fiscal year
39.6%FY202238.1%FY202338.3%FY202441.2%FY202541.7%FY2026
Revenue $9.2B (FY2022) to $13.6B (FY2026), a 10.2% CAGR.

Valuation

P/E (TTM)45.0x
EV / EBITDA36.5x
Price / sales15.93x
Price / FCF57.4x
FCF yield1.74%
Buyback yield1.06%
SBC / revenue2.3%
Price / book34.23x
Forward P/E FY202730.0x
Forward P/E FY202824.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $222.69 across 13 analysts last quarter is theirs, not ours.

KLAC vs industry median

196 companies in Semiconductors
Gross margin 61.3% 45.0% Operating margin 41.7% 5.8% Net margin 35.6% 5.7% ROIC 35.6% 6.2%
KLAC (TTM)Industry median Asset turnover 0.76 vs industry 0.52 · financial leverage 2.83

Earnings delivery

Next report 2026-10-28 · consensus EPS $1.18
100%
beat rate, 12 of 12 quarters
+4.9%
median EPS surprise
12
longest beat streak
+11+6+5+5+7+4+6+4+10+2+1+3
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-27 to 2026-04-29. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
KLAC KLA Corporation $216.3B45.0x85.4%35.6%+11.7% +51.7%
MRVL Marvell Technology, Inc. $199.5B74.7x16.5%11.2%+30.6% +158.2%
ARM Arm Holdings plc American De $243.3B234.8x13.4%20.9%+25.1% +33.1%
ADI Analog Devices, Inc. $191.6B46.7x12.2%33.3%+33.6% +65.7%
TXN Texas Instruments Incorporat $252.5B41.8x35.2%36.2%+16.7% +61.6%
QCOM QUALCOMM Incorporated $183.8B19.6x33.8%20.1%+1.9% —
AMAT Applied Materials, Inc. $324.8B35.1x41.1%27.8%+7.8% —
LRCX Lam Research Corporation $330.3B45.6x65.1%33.9%+26.0% —
12-month window: SPY +15.9%, sector ETF XLK +29.0%. Past returns describe history only.

Recent 8-K filings

2026-08-06Other Events; Exhibits
2026-07-28Earnings Release; Exhibits
2026-06-12Bylaws Amendment; Exhibits
2026-05-07Other Events; Exhibits
2026-04-29Earnings Release; Exhibits
2026-03-12Regulation FD Disclosure; Other Events

Context

Shares outstanding1,305,010,000
Free float99.9%
Institutional ownership92.0%
Beta1.44
Dividend yield0.51%
Last dividend$0.23 on 2026-08-17
50 / 200-day average$187.45 / $180.81
Mega-cap Technology median P/E33.1x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Wide).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where KLAC sits among 76 scored companies in Semiconductors (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureKLACIndustry medianIndustry percentileSector median
P/E (TTM) 44.8x 45.9x
47th		 32.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 15.9x 8.1x
79th		 3.9x
Price / book 34.1x 5.5x
100th		 4.4x
Price / tangible book 92.4x 10.3x
97th		 8.8x
Price / free cash flow 57.4x 57.4x
50th		 20.3x
Price / operating cash flow 52.2x 38.7x
67th		 17.9x
Enterprise value $217.5B $6.8B
88th		 $5.5B
EV / sales 16.0x 8.4x
79th		 4.1x
EV / EBITDA 35.9x 28.1x
59th		 18.9x
EV / EBIT 38.4x 38.4x
51st		 26.7x
EV / free cash flow 57.7x 57.4x
52nd		 21.9x
Earnings yield 2.2% 1.2%
68th		 2.0%
FCF yield 1.7% 1.4%
64th		 3.3%
Operating cash flow yield 1.9% 2.0%
48th		 4.4%
Graham number (per share) $19.91 $34.80
23rd		 $28.08

Profitability (TTM)

MeasureKLACIndustry medianIndustry percentileSector median
Gross margin 61.3% 48.5%
84th		 55.7%
EBITDA margin 44.6% 18.7%
91st		 13.7%
Operating margin 41.7% 10.1%
95th		 8.2%
EBIT margin 41.7% 12.1%
95th		 8.6%
Net margin 35.6% 9.4%
95th		 5.7%
NOPAT margin 35.9% 9.3%
95th		 7.0%
FCF margin 27.7% 12.0%
87th		 15.0%
Operating cash flow margin 30.5% 18.3%
84th		 18.4%
R&D / revenue 11.3% 17.5%
28th		 12.9%
SG&A / revenue 8.3% 14.9%
20th		 25.6%
Stock comp / revenue 2.3% 3.9%
33rd		 4.4%
Effective tax rate 13.8% 17.4%
33rd		 21.0%

Returns on capital

MeasureKLACIndustry medianIndustry percentileSector median
ROE (on average equity) 87.5% 6.8%
97th		 9.4%
ROA 28.4% 4.2%
95th		 4.1%
ROIC 64.2% 7.9%
92nd		 9.0%
ROCE 41.5% 6.6%
96th		 8.6%
Return on tangible assets 33.3% 5.7%
95th		 5.9%
Cash ROIC (OCF / invested capital) 54.5% 14.1%
96th		 20.7%
Gross profitability (GP / assets) 46.4% 21.5%
93rd		 30.0%
ROIC, 3-yr average 80.7% 6.8%
98th		 7.4%
ROIC, 5-yr average 1,581.4% 16.5%
100th		 7.9%
ROE, 5-yr average 119.5% 10.9%
100th		 6.9%
Incremental ROIC 80.1% 13.4%
80th		 15.3%

Growth

MeasureKLACIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 11.7% 17.8%
38th		 14.3%
Revenue growth (QoQ) 7.1% 13.2%
21st		 6.6%
Revenue CAGR, 3 yr 9.0% 3.5%
64th		 9.6%
Revenue CAGR, 5 yr 14.4% 6.5%
71st		 11.5%
Gross profit CAGR, 3 yr 9.9% 2.6%
61st		 10.9%
Operating income CAGR, 3 yr 12.3% -2.2%
68th		 11.3%
Net income growth (TTM YoY) 18.9% 35.4%
34th		 21.6%
Net income CAGR, 3 yr 12.6% 1.9%
67th		 9.9%
EPS growth (TTM YoY) 19.6% 37.4%
37th		 22.3%
EPS CAGR, 3 yr -47.0% -0.5%
8th		 11.2%
EPS CAGR, 5 yr -22.9% 7.5%
15th		 12.0%
FCF growth (TTM YoY) 0.6% 31.5%
35th		 24.6%
FCF CAGR, 3 yr 4.2% 2.9%
51st		 19.3%
Operating cash flow CAGR, 3 yr 4.1% 4.1%
52nd		 17.9%
Book value CAGR, 3 yr -39.0% 7.2%
1st		 6.8%
Dividend CAGR, 3 yr -50.4% 1.9%
0th		 3.1%
Sustainable growth rate 68.3% 10.7%
96th		 14.2%

Margin history & stability

MeasureKLACIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 60.9% 47.6%
85th		 53.2%
Operating margin, 3-yr average 40.4% 8.0%
97th		 6.6%
Net margin, 3-yr average 32.4% 7.9%
94th		 5.2%
FCF margin, 3-yr average 29.8% 11.5%
93rd		 12.7%
Revenue stability (0-1) 0.92 0.58
86th		 0.87
Earnings stability (0-1) 0.73 0.36
81st		 0.45
Margin stability (0-1) 0.99 0.93
99th		 0.95

Liquidity (latest quarter)

MeasureKLACIndustry medianIndustry percentileSector median
Cash & short-term investments $4.9B $667.9M
87th		 $494.1M
Net cash (− = net debt) −$1.2B $201.8M
15th		 $49.8M
Working capital $8.1B $953.3M
87th		 $391.0M
Current ratio 2.88 3.45
37th		 1.92
Quick ratio 2.03 2.56
37th		 1.67
Cash ratio (cash + ST investments / current liabilities) 1.14 1.60
33rd		 0.95
Defensive interval (days) 1,109 days 778 days
69th		 521 days

Leverage & solvency (latest quarter)

MeasureKLACIndustry medianIndustry percentileSector median
Total debt $6.2B $307.1M
89th		 $349.3M
Debt / equity 0.97 0.17
91st		 0.29
Net debt / equity 0.20 −0.19
77th		 −0.13
Debt / assets 34.3% 11.2%
83rd		 16.9%
Debt / capital 49.2% 14.8%
91st		 22.3%
Debt / EBITDA 1.02 1.14
44th		 1.78
Net debt / EBITDA 0.21 −0.82
72nd		 −0.18
Interest coverage (EBIT / interest) 19.9x 12.4x
65th		 5.8x
Cash interest coverage 14.6x 15.4x
48th		 12.8x
Debt payback (years of OCF) 1.5 yrs 1.2 yrs
55th		 1.6 yrs
Liabilities / assets 64.6% 30.8%
95th		 48.7%
IS credit model rating AA — —
Implied credit spread (bps) 80 125
19th		 175

Efficiency

MeasureKLACIndustry medianIndustry percentileSector median
Asset turnover 0.80 0.52
85th		 0.62
Fixed asset turnover 9.84 4.69
87th		 9.25
Inventory turnover 1.5 2.7
10th		 3.8
Receivables turnover 5.3 6.3
32nd		 6.2
Days sales outstanding 69 days 58 days
68th		 59 days
Days inventory outstanding 238 days 137 days
90th		 94 days
Days payables outstanding 38 days 50 days
23rd		 46 days
Cash conversion cycle (days) 270 days 129 days
93rd		 50 days
Capex / revenue 2.8% 4.5%
28th		 2.3%
Capex / depreciation 0.95 0.94
54th		 0.56
Operating expense ratio 18.9% 32.6%
20th		 44.3%

Cash flow & earnings quality

MeasureKLACIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.86 1.34
23rd		 1.61
FCF / net income 0.78 0.88
44th		 1.33
FCF / operating cash flow 90.9% 75.0%
88th		 88.0%
Capex / operating cash flow 9.1% 25.0%
12th		 12.0%
Accruals ratio 4.0% -4.4%
89th		 -6.3%
Sloan accruals ratio 6.3% 2.2%
60th		 -1.8%
Earnings quality score (0-1) 0.75 0.75
15th		 0.75

Dividends & buybacks

MeasureKLACIndustry medianIndustry percentileSector median
Dividend yield 0.5% 0.0%
76th		 0.0%
Dividend per share (TTM) $0.84 $0.00
81st		 $0.00
Payout ratio (dividends / net income) 21.9% 5.0%
69th		 0.0%
Dividends / FCF 28.1% 0.0%
74th		 0.0%
Dividend growth (YoY) 17.6% 3.6%
81st		 4.1%
Buyback yield 1.1% 0.1%
80th		 1.2%
Shareholder yield (dividends + buybacks) 1.5% 0.3%
71st		 1.7%
Share count change (YoY) -0.6% 1.6%
16th		 0.1%
Buybacks, last 5 years $10.7B $67.3M
92nd		 $215.3M

Scores & forensic checks

MeasureKLACIndustry medianIndustry percentileSector median
IS score 72 59
73rd		 56
IS profitability 98 43
95th		 40
IS growth 71 69
58th		 65
IS value 40 36
69th		 39
IS momentum 76 79
44th		 78
IS risk (safety) 100 100
12th		 100
IS quality 80 70
71st		 67
IS balance sheet 84 84
44th		 72
IS earnings quality 57 65
36th		 61
IS cash flow 67 58
63rd		 66
Piotroski F-score (0-9) 7 6
65th		 6
Altman Z-score 23.2 12.3
72nd		 4.0
Beneish M-score −2.03 −2.45
70th		 −2.58
Ohlson O-score −8.99 −9.33
55th		 −8.00
IS credit score 87 78
67th		 69

Per share

MeasureKLACIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $3.66 $1.49
77th		 $0.84
Book value per share $4.81 $17.90
8th		 $9.77
Tangible book per share $3.28 $11.01
23rd		 $3.22
Revenue per share $10.29 $13.47
39th		 $13.00
FCF per share $2.85 $1.50
72nd		 $1.78
Operating cash flow per share $3.14 $2.35
63rd		 $2.40
Cash per share $3.71 $6.31
19th		 $4.50

Size (TTM)

MeasureKLACIndustry medianIndustry percentileSector median
Market cap $216.3B $6.8B
88th		 $4.7B
Revenue $13.6B $1.1B
85th		 $1.2B
EBITDA $6.1B $207.9M
88th		 $185.8M
Net income $4.8B $119.3M
89th		 $84.9M
Free cash flow $3.8B $114.6M
88th		 $170.6M
Total assets $18.0B $2.3B
81st		 $2.4B
Shareholders' equity $6.3B $1.4B
75th		 $1.1B
Employees 17,100 2,286
77th		 3,000

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-15Wallace Richard P
President and CEO
 Open-market sale 72,019$171.88$12.4M706,925
2026-08-13Lorig Brian
EVP, KLA Global Services
 Open-market sale 59,586$208.13$12.4M77,681
2026-08-12Higgins Bren D.
EVP & Chief Financial Officer
 Open-market sale 31,500$209.87$6.6M307,815
2026-08-11Khan Ahmad A.
President, Semi. Prod. & Cust.
 Open-market sale 33,180$198.95$6.6M238,045
2026-08-11Wallace Richard P
President and CEO
 Open-market sale 87,568$198.95$17.4M778,944
2026-08-10Kirloskar Virendra A
SVP & Chief Accounting Officer
 Open-market sale 529$204.56$108,21213,242
2026-08-10Wilkinson Mary Beth
EVP, CLO and Secretary
 Open-market sale 1,661$204.56$339,77437,032
2026-08-07Wallace Richard P
President and CEO
 Tax withholding 12,762$193.22$2.5M866,512
2026-08-07Lorig Brian
EVP, KLA Global Services
 Tax withholding 2,876$193.22$555,631137,267
2026-08-07Wilkinson Mary Beth
EVP, CLO and Secretary
 Tax withholding 1,208$193.22$233,46260,524
2026-08-07Wilkinson Mary Beth
EVP, CLO and Secretary
 Open-market sale 21,831$197.57$4.3M38,693
2026-08-07Khan Ahmad A.
President, Semi. Prod. & Cust.
 Tax withholding 4,532$193.22$875,598271,225

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired17983,320—
Open-market saleDisposed20386,605$96.5M
OtherAcquired5981$106,250
Tax withholdingDisposed46701,817$143.7M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 21 notices · 426,516 shares · $118.1M
FiledFilerShares proposedEst. proceeds
2026-09-15Wallace Richard P72,019$12.4M
2026-08-13Lorig Brian59,586$12.4M
2026-08-12Higgins Bren D.31,500$6.6M
2026-08-11Khan Ahmad A.33,180$6.6M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 5 trades (3 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-23Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-07-01Michael RulliHousePurchase$1,001 - $15,0002026-08-10
2026-07-01Michael A. RulliHousePurchase$1,001 - $15,0002026-08-10
2026-04-08Lizzie FletcherHouseSale$1,001 - $15,0002026-05-01
2024-05-03Tommy TubervilleSenateSale (Full)$1,001 - $15,0002024-06-14
2024-05-03Tommy TubervilleSenateSale (Full)$1,001 - $15,0002024-06-13
2024-05-03Thomas Hawley TubervilleSenateSale (Full)$1,001 - $15,0002024-06-13
2023-09-13Markwayne MullinSenatePurchase$50,001 - $100,0002023-10-12
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.126,198,653$38.1B9.67%
VANGUARD CAPITAL MANAGEMENT LLC85,323,770$25.7B6.54%
STATE STREET CORP62,892,994$19.0B4.82%
Capital World Investors45,318,111$13.7B3.47%
Invesco Ltd.44,848,852$13.5B3.44%
FMR LLC43,007,912$13.0B3.30%
VANGUARD PORTFOLIO MANAGEMENT LLC39,388,674$11.9B3.02%
GEODE CAPITAL MANAGEMENT, LLC36,488,344$11.0B2.80%
Capital International Investors35,558,216$10.7B2.72%
PRIMECAP MANAGEMENT CO/CA/20,536,730$6.2B1.57%
GOLDMAN SACHS GROUP INC20,065,542$6.1B1.54%
NORGES BANK19,565,355$5.9B1.50%
PRICE T ROWE ASSOCIATES INC /MD/17,577,190$5.3B1.35%
VAN ECK ASSOCIATES CORP15,757,363$4.8B1.21%
WELLINGTON MANAGEMENT GROUP LLP14,821,622$4.5B1.14%

Institutional ownership by quarter

2023-092026-0692.0%
% of shares held by 13F filers
2023-092026-062,496
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,49692.0%5251,9521088
2026-03-312,08388.2%29367083195
2025-12-311,91690.1%30462073585
2025-09-301,73988.2%19064863385
2025-06-301,66689.7%225577649105
2025-03-311,57087.0%165632555121
2024-12-311,55487.8%202579579164
2024-09-301,54988.0%147593579117
2024-06-301,53989.7%17455458790
2024-03-311,47390.3%190487586101
2023-12-311,40489.5%23245652488
2023-09-301,28091.4%13546446369

Schedule 13D / 13G filers

FiledFormFiler% of classShares
None on file.
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.35%$8.1B
VTI0.35%$8.1B
VSMPX0.35%$8.1B
VTSAX0.35%$8.1B
VOO0.39%$6.7B
VFFSX0.39%$6.7B

Share structure

Shares outstanding1,305,010,000
Float1,303,476,398
Free float99.9%

Income statement

Fiscal years, USD
FY2022FY2023FY2024FY2025FY2026
Revenue$9.2B$10.5B$9.8B$12.2B$13.6B
Cost of revenue$3.6B$4.2B$3.9B$4.6B$5.3B
Gross profit$5.6B$6.3B$5.9B$7.6B$8.3B
R&D$1.1B$1.3B$1.3B$1.4B$1.5B
SG&A$860.0M$986.3M$969.5M$979.0M$1.1B
Operating income$3.7B$4.0B$3.6B$5.2B$5.7B
EBITDA$4.0B$4.5B$3.9B$5.3B$6.1B
Pretax income$3.5B$3.8B$3.2B$4.6B$5.6B
Income tax$167.2M$401.8M$428.1M$582.8M$775.2M
Net income$3.3B$3.4B$2.8B$4.1B$4.8B
EPS, diluted$21.92$24.15$20.28$30.37$3.66
Diluted shares151.6M140.2M136.2M133.8M1.3B

Balance sheet

FY2022FY2023FY2024FY2025FY2026
Cash & short-term investments$2.7B$3.2B$4.5B$4.5B$4.9B
Receivables$2.0B$1.9B$2.0B$2.4B$3.2B
Inventory$2.1B$2.9B$3.0B$3.2B$3.6B
Total current assets$7.2B$8.4B$10.0B$10.7B$12.4B
PP&E, net$976.4M$1.2B$1.3B$1.3B$1.4B
Goodwill & intangibles$3.5B$3.2B$2.7B$2.2B$2.0B
Total assets$12.6B$14.1B$15.4B$16.1B$18.0B
Accounts payable$443.3M$371.0M$359.5M$458.5M$623.7M
Total current liabilities$2.9B$3.7B$4.7B$4.1B$4.3B
Long-term debt$6.7B$5.9B$5.9B$5.9B$5.9B
Total liabilities$11.2B$11.2B$12.1B$11.4B$11.6B
Shareholders' equity$1.4B$2.9B$3.4B$4.7B$6.3B

Cash flow statement

Outflows are negative
FY2022FY2023FY2024FY2025FY2026
Net income$3.3B$3.4B$2.8B$4.1B$4.8B
Depreciation & amortization$363.3M$415.1M$401.7M$394.1M$394.0M
Stock-based compensation$126.9M$171.4M$212.7M$265.0M$310.2M
Change in working capital−$305.4M$10.1M−$201.2M−$646.2M−$935.4M
Operating cash flow$3.3B$3.7B$3.3B$4.1B$4.1B
Capital expenditure−$307.3M−$341.6M−$277.4M−$340.2M−$375.9M
Free cash flow$3.0B$3.3B$3.0B$3.7B$3.8B
Investing cash flow−$876.5M−$486.9M−$1.5B−$202.5M−$1.2B
Net debt issued / repaid$3.2B−$793.8M$735.0M−$750.0M$0
Buybacks−$4.9B−$1.3B−$1.7B−$2.1B−$2.3B
Dividends paid−$638.5M−$732.6M−$773.0M−$904.6M−$1.1B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2022FY2023FY2024FY2025FY2026
Gross margin61.0%59.8%60.6%60.9%61.3%
Operating margin39.6%38.1%38.3%41.2%41.7%
Net margin36.1%32.3%28.2%33.4%35.6%
FCF margin32.6%31.7%30.9%30.8%27.7%
ROE139.0%156.8%87.8%100.8%87.5%
ROIC63.6%62.2%57.2%69.8%64.2%
ROA29.1%25.4%18.7%25.8%28.4%
Debt / equity4.832.082.021.300.97
Interest coverage22.8x18.3x11.3x16.4x19.9x
Current ratio2.502.242.152.622.88
Revenue growth+33.1%+13.9%−6.6%+24.0%+11.7%
EPS growth+65.3%+10.5%−17.1%−85.0%+19.6%
P/E at year end1.4x1.9x4.0x29.0x82.3x
EV / EBITDA at year end2.2x2.1x3.4x22.4x65.9x
FCF yield at year end65.73%51.20%27.63%3.17%0.95%
Dividend payout19.2%21.6%28.0%22.3%21.9%

Revenue by segment

FY2022FY2023FY2024FY2025FY2026
Defect Inspection$4.0B$4.3B$4.3B$6.2B$6.6B
Wafer Inspection————$6.6B
Service$1.9B$2.1B$2.3B$2.7B$3.1B
Services————$3.1B
Patterning$2.1B$2.8B$2.1B$2.2B$2.7B
PCB And Component Inspection$562.5M$378.0M$291.2M$355.9M$460.3M
Specialty Semiconductor Process$414.8M$492.1M$470.6M$517.2M$502.5M
PCB and Component Inspection————$460.3M
Other Revenue$259.4M$381.1M$333.2M$204.6M$153.1M
Other————$153.1M

Revenue by region · FY2026

CHINA$4.0B · 30%
TAIWAN, PROVINCE OF CHINA$3.6B · 27%
KOREA, REPUBLIC OF$1.8B · 14%
North America$1.8B · 13%
JAPAN$915.1M · 7%
Europe and Israel$726.7M · 5%
Rest of Asia$654.4M · 5%

Street estimates by fiscal year

Next report 2026-10-28 · consensus EPS $1.18 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$13.5B$13.5B – $13.6B$3.71$3.69 – $3.751644.7x
2027$18.2B$17.4B – $19.1B$5.52$5.12 – $5.841730.0x
2028$21.8B$20.4B – $23.8B$6.81$5.97 – $7.641424.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-29$9.17$9.40+2.5%$3.4B$3.4B+1.2%
2026-01-29$8.79$8.85+0.7%$3.2B$3.3B+1.5%
2025-10-29$8.63$8.81+2.1%$3.2B$3.2B+1.2%
2025-07-31$8.56$9.38+9.6%$3.1B$3.2B+3.1%
2025-04-30$8.09$8.41+4.0%$3.0B$3.1B+1.8%
2025-01-30$7.75$8.20+5.8%$2.9B$3.1B+4.4%
2024-10-30$7.05$7.33+4.0%$2.7B$2.8B+3.4%
2024-07-24$6.15$6.60+7.3%$2.5B$2.6B+1.8%
2024-04-25$5.01$5.26+5.0%$2.3B$2.4B+2.1%
2024-01-25$5.88$6.16+4.8%$2.5B$2.5B+1.0%
2023-10-25$5.41$5.74+6.1%$2.4B$2.4B+1.5%
2023-07-27$4.85$5.40+11.3%$2.3B$2.4B+4.3%
2023-04-26$5.32$5.49+3.2%$2.4B$2.4B+2.4%
2023-01-26$7.10$7.38+3.9%$2.8B$3.0B+5.9%
2022-10-26$6.21$7.06+13.7%$2.6B$2.7B+4.9%
2022-07-28$5.50$5.81+5.6%$2.4B$2.5B+2.3%
2022-04-28$4.82$5.13+6.4%$2.2B$2.3B+3.9%
2022-01-27$5.45$5.59+2.6%$2.2B$2.4B+6.5%
2021-10-27$4.45$4.64+4.3%$2.0B$2.1B+2.0%
2021-07-29$3.99$4.43+11.0%$1.9B$1.9B+0.0%
2021-04-29$3.62$3.85+6.4%$1.7B$1.8B+3.5%
2021-02-03$3.19$3.24+1.6%$1.6B$1.7B+3.4%
2020-10-28$2.77$3.03+9.4%$1.0B$1.5B+46.9%
2020-08-03$2.41$2.73+13.3%$1.3B$1.5B+12.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
3.206-153.506-225.206-293.307-062.607-132.107-203.807-272.108-031.908-101.708-171.408-241.608-31
Week ofNotionalSharesTrades
2026-08-31$1.6B9,129,489344,658
2026-08-24$1.4B7,584,385303,454
2026-08-17$1.7B8,812,229407,093
2026-08-10$1.9B9,267,771365,144
2026-08-03$2.1B10,743,141409,417
2026-07-27$3.8B20,248,916683,521

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1519.1%
DateShort shareShort volumeTotal volume
2026-10-1519.1%804,5334,222,555
2026-10-1431.0%1,229,3003,970,062
2026-10-1332.1%1,078,6073,363,982
2026-10-1232.7%685,9582,096,653
2026-10-0933.4%592,0371,770,668
2026-10-0846.6%1,633,4593,504,641
2026-10-0740.7%847,7362,083,661
2026-10-0636.9%1,133,3193,068,815
2026-10-0531.7%725,6132,289,968
2026-10-0241.8%957,1862,291,414
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.2Jan+1.2Feb+1.4Mar+2.5Apr+2.5May+0.3Jun+5.5Jul-1.0Aug+2.4Sep+3.1Oct+3.1Nov+3.0Dec
MonthAvg returnUp yearsYears
Jan+1.2%60%20
Feb+1.2%60%20
Mar+1.4%52%21
Apr+2.5%50%20
May+2.5%65%20
Jun+0.3%45%20
Jul+5.5%70%20
Aug−1.0%45%20
Sep+2.4%55%20
Oct+3.1%60%20
Nov+3.1%55%20
Dec+3.0%80%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1431.1
MFI31.7
ADX16.5
Stochastic %K / %D6.9 / 11.7
Williams %R-98.8
CCI-185
TSI / signal-7.4 / 3.7
Chaikin money flow0.16
ATR$8.14
Bollinger width20.8%
Volume vs 20-day avg1.44x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$190.48 (−13.0%)
SMA 50$186.88 (−11.3%)
SMA 200$180.73 (−8.3%)
EMA 21$186.57 (−11.2%)
EMA 50$189.56 (−12.6%)
EMA 200$176.93 (−6.3%)
Bollinger upper$210.30 (−21.2%)
Bollinger lower$170.65 (−2.9%)
Parabolic SAR$197.26 (−16.0%)
Open the live chart, 110+ indicators

About KLA Corporation

KLA Corporation specializes in creating, manufacturing, and distributing advanced solutions vital for process control, process optimization, and yield enhancement throughout the global semiconductor and broader electronics industries. The company organizes its business into four main segments: Semiconductor Process Control, Specialty Semiconductor Process, PCB, Display and Component Inspection, and an 'Other' category. For integrated circuit (IC) fabrication, KLA offers a comprehensive range of products. These include systems for wafer inspection, review, and metrology; defect inspection and metrology for both wafers/substrates and reticles; chemical and materials quality analysis tools; and real-time process management and wafer handling diagnostics essential for IC and original equipment manufacturer (OEM) production. Furthermore, the company develops software for live process control, defect excursion identification, process corrections, and defect classification. KLA also supplies refurbished and remanufactured equipment. Beyond IC manufacturing, KLA supports specialty semiconductor production. This includes benchtop metrology, surface characterization, and electrical property measurement services suitable for general-purpose and laboratory use. They also provide technologies and solutions for etching, plasma dicing, deposition, and various other wafer processing tasks within the semiconductor and microelectronics sectors. Within the printed circuit board (PCB) market, KLA delivers solutions such as direct imaging, inspection, optical shaping, additive printing, and computer-aided manufacturing and engineering. For the display industry, their offerings encompass inspection and electrical testing systems to pinpoint and categorize defects, as well as equipment for defect repair. KLA also supplies inspection and metrology systems designed to improve quality control and yield in both advanced and conventional semiconductor packaging markets. Established in 1975, the company was initially known as KLA-Tencor Corporation before rebranding as KLA Corporation in July 2019. Its corporate headquarters are situated in Milpitas, California.

https://www.kla.com

Key executives

NameTitlePayBorn
Richard WallacePresident, Chief Executive Officer & Executive Director$6.5M1960
Bren D. HigginsExecutive Vice President & Chief Financial Officer$2.8M1970
Ahmad A. KhanPresident of Semiconductor Products & Customers$2.8M1974
Brian W. LorigExecutive Vice President of KLA Global Services$1.8M1974
Mary Beth WilkinsonExecutive Vice President, Chief Legal Officer & Corporate Secretary$1.4M1973
Ben Bin-Ming TsaiChief Technology Officer & Executive Vice President of Corporate Alliances$998,0191959
Virendra A. KirloskarSenior Vice President & Chief Accounting Officer$455,1821963
Randi PolanichSenior Vice President & Chief Communications Officer——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Richard Wallace President & Chief Executive Officer2026$1.3M$23.5M$5.1M$30.0M
Bren Higgins Executive Vice President & Chief Financial Officer2026$792,692$6.7M$2.0M$9.5M
Ahmad Khan President, Semiconductor Products and Customers2026$792,692$6.7M$2.0M$9.5M
Brian Lorig Executive Vice President, KLA Global Services2026$614,038$4.2M$1.2M$6.0M
Mary Beth Wilkinson Executive Vice President, Chief Legal Officer & Corporate Secretary2026$560,000$2.1M$779,727$3.5M

Employees

10k201911k202011k202114k202215k202315k202415k202517k2026

Dividends

Ex-dateAmountPaid
2026-08-17$0.232026-09-01
2026-05-18$0.232026-06-02
2026-02-17$1.92026-03-03
2025-11-17$1.92025-12-02
2025-08-18$1.92025-09-03
2025-05-19$1.92025-06-03
2025-02-24$1.72025-03-04
2024-11-18$1.72024-12-03

Moat model

Wide · Efficient Scale · 2026-06-30
Cost advantage91
Intangibles68
Switching costs60
Network effect65
Efficient scale95
Our component scores (0-100) and overall 74.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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