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KLA Corporation

KLAC Technology Semiconductor Equipment & Materials

KLA Corporation’s revenue for fiscal 2026 (year ended June 2026) was $13.6 billion, up 11.7% from fiscal 2025.

Revenue
+28.9%
EPS
+39.4%
Free cash flow
+25.4%
Total debt
−2.75%

Quarter to September 2026, against a year earlier

138.28 8.48 +6.53%
Market cap
$169.1B
P/E
32.7×
Fwd P/E
28.0×
Dividend yield
0.64%
F-score
8/9
Altman Z
23.09
Beneish M
−2.02
Dividend safety
84/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Semiconductor Process Control
  • PCB And Component Inspection
  • Specialty Semiconductor Process

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 76.88
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 — — — — 3 1 3 12 1 — —
Insider Ownership 0.41%

Capital & Financial Ratios $m

Size
Market Cap 169,120.00
Revenue ttm 14,505.79
Net income ttm 5,258.32
Free cash flow ttm 4,037.62
Net debt Q 982.10
Valuation
P/E 32.72
Forward P/E 28.00
Price / sales 11.83 (above 10: high)
Forward P/S Powerpack
Price / FCF 42.61
Price / book 26.30 (above 6: high)
Financial health
Current ratio Q 2.76 (at or above 1.5: strong)
Debt / equity Q 0.88
Interest coverage Q 27.41
Growth
Revenue growth Q +28.86% (above 0%: growing)
Operating income growth Q +39.22% (above 0%: growing)
EPS, this year +53.41% (at or above 15%: strong)
EPS, next year A +23.06% (at or above 15%: strong)
Revenue, next year A +38.80% (at or above 10%: strong)
EPS, past 5 yrs +22.31% (at or above 15%: strong)
EPS, next 5 yrs A +31.09% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 11.9×, against a ten-year median of 5.8×; over the ten years it ranged from 3.1× in 2018 to 29.3× in 2026.
P/E against its own 10 years 81.66%
10-year low 10-year high
P/S against its own 10 years 90.10%
10-year low 10-year high
P/B against its own 10 years 74.95%
10-year low 10-year high
EV/Sales against its own 10 years 89.95%
10-year low 10-year high
EV/FCF against its own 10 years 92.56%
10-year low 10-year high

Dividends

Yield
0.64%
Annual rate
0.84
Payout ratio
21.0%
Growth, 2017–25
+16.0%/yr
  1. 0.23 ’17
  2. 0.28 ’18 +26
  3. 0.31 ’19 +9
  4. 0.35 ’20 +13
  5. 0.39 ’21 +11
  6. 0.47 ’22 +21
  7. 1.84 ’23 +290
  8. 0.61 ’24 −67
  9. 0.74 ’25 +22
  10. 0.80 ’26e +8
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 4,504 4,495 4,902 4,741
Receivables 1,833 2,264 2,889 3,072
Inventory 3,035 3,212 3,649 4,090
Other 659 728 942 670
10,031 10,699 12,382 12,573
2024 2025 2026 Q'26
Payables 359 459 624 741
ST’ Debt 750 — — —
Other 2,064 2,262 2,144 2,337
4,661 4,086 4,305 4,555

Compound Annual Growth %

10y 5y 3y
Sales 16.36% 14.44% 8.96%
Cash Flow 18.49% 13.65% 4.13%
Earnings 21.23% 18.38% 12.56%
Book Value 24.87% 13.47% 29.56%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 1.18 Actual 1.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 0.88 0.89 Beat by 0.01
Q3 FY26 0.92 0.94 Beat by 0.02
Q4 FY26 1.00 1.05 Beat by 0.05
Q1 FY27 1.18 1.22 Beat by 0.04
Q2 FY27 1.42 — Reports 4 February 2027

EPS $

Sep Dec Mar Jun Year
’26 1.18 — — — —
’26 0.85 0.87 0.91 1.04 3.66
’25 0.70 0.62 0.82 0.91 3.04
’24 0.54 0.43 0.44 0.62 2.03
’23 0.72 0.69 0.50 0.50 2.42
’22 0.70 0.47 0.48 0.54 2.19
’21 0.27 0.29 0.37 0.41 1.34
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 4,136 — — — —
’26 3,210 3,297 3,415 3,658 13,579
’25 2,842 3,077 3,063 3,175 12,156
’24 2,397 2,487 2,360 2,569 9,812
’23 2,724 2,984 2,433 2,355 10,496
’22 2,084 2,353 2,289 2,487 9,212
’21 1,539 1,651 1,804 1,925 6,919
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 1,531 — — — —
’26 1,162 1,368 707 906 4,143
’25 995 850 1,072 1,165 4,082
’24 884 622 910 893 3,309
’23 1,012 688 1,011 959 3,670
’22 864 811 819 819 3,313
’21 512 561 646 466 2,185
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 1,336 — — — —
’26 1,066 1,262 622 817 3,767
’25 935 757 987 1,060 3,742
’24 816 551 838 827 3,031
’23 1,003 595 926 880 3,404
’22 795 746 719 774 3,033
’21 457 503 602 410 1,972
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.9% a year for ten years. It grew 17.0% a year over the last ten.

Implied
16.9%
10 years, reported
17.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 3,480 4,037 4,569 5,806 6,919 9,212 10,496 9,812 12,156 13,579 14,506 +16.3% 18,848 22,307 25,922 +24.0%
Gross margin, % 63.04 64.18 59.08 57.81 59.93 61.00 59.81 59.97 60.91 61.30 61.47 (1.7) pt
EBT 1,173 1,456 1,296 1,317 2,360 3,489 3,789 3,190 4,644 5,606 6,121 +19.0%
EBT margin, % 33.71 36.07 28.37 22.68 34.12 37.88 36.10 32.51 38.21 41.28 42.19 +7.6 pt
Net income 926 802 1,175 1,215 2,077 3,322 3,387 2,762 4,062 4,831 5,258 +20.1%
Per share, $
Per share, $ Revenue 2.22 2.58 2.93 3.70 4.49 6.12 7.53 7.25 9.14 10.35 11.11 +18.6%
Earnings 0.59 0.51 0.75 0.78 1.35 2.21 2.43 2.04 3.05 3.68 4.02 +22.5%
Cash flow 0.69 0.79 0.74 1.13 1.42 2.20 2.63 2.44 3.07 3.16 3.46 +18.4%
Capex (0.02) (0.04) (0.08) (0.10) (0.14) (0.19) (0.19) (0.20) (0.26) (0.29) (0.36) +32.5%
Free cash flow 0.67 0.74 0.66 1.04 1.28 2.02 2.44 2.24 2.81 2.87 3.09 +17.6%
Book value 0.85 1.04 1.72 1.71 2.19 0.93 2.09 2.49 3.53 4.84 5.00 +21.4%
Shares, m 1,565 1,563 1,561 1,568 1,541 1,505 1,395 1,353 1,330 1,312 1,310 (1.9%)
Valuation, ×
Valuation, × P/E 15.46 20.23 16.08 25.10 24.01 14.47 20.02 40.56 29.32 81.96 32.72 28.7
P/S 4.11 4.02 4.16 5.25 7.22 5.21 6.45 11.42 9.80 29.14 11.83 8.7
P/B 10.79 10.01 7.09 11.38 14.80 34.32 23.17 33.26 25.39 62.32 26.30 23.3
EV/Sales 4.09 3.92 4.53 5.51 7.36 5.65 6.70 11.63 9.98 29.27 11.95 8.9
EV/FCF 13.63 13.63 20.23 19.69 25.81 17.15 20.66 37.66 32.47 105.81 43.04 30.7
Cash, $m
Cash, $m Operating cash flow 1,080 1,229 1,153 1,779 2,185 3,313 3,670 3,309 4,082 4,143 4,512 +16.1%
Capex (36) (67) (130) (153) (213) (280) (266) (277) (340) (376) (475) +29.9%
Free cash flow 1,044 1,162 1,022 1,626 1,972 3,033 3,404 3,031 3,742 3,767 4,038 +15.3%
Balance, $m
Balance, $m Working capital 3,099 3,335 2,547 3,024 3,593 4,298 4,629 5,370 6,613 8,077 8,018 +11.2%
Net debt (86) (643) 1,684 1,518 948 3,985 2,682 2,126 1,390 985 982 n/m
Shareholders’ equity 1,326 1,621 2,678 2,681 3,376 1,399 2,920 3,368 4,692 6,350 6,523 +19.0%
Returns, %
Returns, % ROA 17.65 14.36 16.05 13.31 21.26 29.05 25.40 18.72 25.79 28.40 30.29 +10.7 pt
ROIC 64.45 98.44 19.91 22.36 35.97 42.42 44.57 38.06 49.07 48.24 51.51 (16.2) pt
ROE 91.89 54.45 54.70 45.41 68.63 139.14 156.86 87.85 100.78 87.50 91.38 (4.4) pt
People
People Employees 5,990 6,550 10,020 10,600 11,550 14,280 15,210 15,230 15,200 17,200 — +12.4%
Revenue/emp, $m 0.58 0.62 0.46 0.55 0.60 0.65 0.69 0.64 0.80 0.79 — +3.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

KLA Corporation sells equipment, software and services that help semiconductor and electronics manufacturers make and inspect their products. Its tools help customers find defects, measure tiny features and control manufacturing processes so that more of the products coming off a production line meet specifications. Founded in 1997, KLA is headquartered in Milpitas. Richard Wallace is its president and chief executive officer.

A semiconductor is built on a wafer through repeated manufacturing steps. KLA’s inspection systems find and analyze defects on wafers, while its measurement tools check properties such as the dimensions of patterns and the alignment of layers. Its software brings together data from those systems to help customers identify problems and correct processes. KLA also supplies equipment used to check reticles, the patterned masks used in chip manufacturing, and to monitor chemicals and materials.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Semiconductor Process Control 12,245 90.17%
PCB And Component Inspection 750 5.53%
Specialty Semiconductor Process 584 4.30%
Gross margin 61.30%
Operating margin 41.69%
Pre-tax margin 41.28%

Revenue by segment since 2009

KLA Corporation vs peers in Semiconductor Equipment & Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ASML ASML Holding N.V. $522.9B 33.7× 34.0× +52.79% (above 0%: growing) +132.09% (above 0%: growing) +4,578.01% (above 0%: growing) 57.45% 44.36% Compare
AMAT Applied Materials, Inc. $253.4B 27.7× 12.4× +24.83% (above 0%: growing) +43.50% (above 0%: growing) +13.66% (above 0%: growing) 50.31% 33.74% Compare
LRCX Lam Research Corporation $231.4B 27.9× 25.0× +54.38% (above 0%: growing) +77.42% (above 0%: growing) +103.28% (above 0%: growing) 52.30% 39.95% Compare
KLAC KLA Corporation $169.1B 32.7× 28.0× +28.86% (above 0%: growing) +39.41% (above 0%: growing) +25.38% (above 0%: growing) 61.85% 45.01%
TER Teradyne, Inc. $33.2B 24.8× 29.6× +69.78% (above 0%: growing) +192.00% (above 0%: growing) +9,539.10% (above 0%: growing) 59.06% 30.78% Compare
Q Qnity Electronics, Inc. $23.0B 40.6× 32.1× +21.94% (above 0%: growing) −7.33% (below 0%: shrinking) −19.92% (below 0%: shrinking) 47.75% 21.53% Compare
ENTG Entegris, Inc. $19.1B 49.6× 46.0× +24.61% (above 0%: growing) +124.07% (above 0%: growing) +22.32% (above 0%: growing) 49.74% 22.93% Compare
NVMI Nova Ltd. $8.9B 32.4× 32.9× +15.90% (above 0%: growing) +1.72% (above 0%: growing) −10.48% (below 0%: shrinking) 56.54% 29.88% Compare
ONTO Onto Innovation Inc. $7.7B 58.7× 33.2× +35.30% (above 0%: growing) +76.81% (above 0%: growing) +30.97% (above 0%: growing) 53.41% 18.52% Compare
Median of peers $28.1B 33.1× 32.5× +30.07% +77.12% +26.64% 52.86% 30.33%

All 30 Semiconductor Equipment & Materials stocks →

From the latest earnings call

Updated

  • CFO Bren Higgins said KLA’s backlog was growing as customers accelerated delivery requests, while additional supply-chain capacity supported its second-half revenue outlook.
  • Higgins said high memory costs were pressuring margins and that KLA was working on system efficiency, product costs and pricing for new capabilities.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Cantor Fitzgerald Nov 6, 2026 Target cut — 325.00 → 225.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 90.32%
Held by the ten largest 46.28%
Holder Shares Stake Change
Vanguard 138.52m 10.60% +124.61m
BlackRock 126.20m 9.66% +113.60m
Capital Group 92.77m 7.10% +84.79m
State Street 62.89m 4.81% +56.74m
Invesco 44.85m 3.43% +40.44m
Fidelity (FMR) 43.01m 3.29% +38.61m
Geode Capital Management 36.49m 2.79% +32.82m
PRIMECAP Management 20.54m 1.57% +18.10m
Goldman Sachs 20.07m 1.54% +18.25m
Norges Bank 19.57m 1.50% +19.57m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 22 September 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 29.95m 507.95m 939.21
2025 25.10m 34.78m 489.42
2024 22.83m 90.77m 447.99
2023 26.64m 66.58m 264.61
2022 20.57m 30.40m 173.68

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc. 8.80%
Vanguard Capital Management 7.50%
Mary Beth Wilkinson less than 1%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

KLA Corporation (KLAC) Latest News

6 Nov

Impact 3 · · Investing.com

4 Nov

Impact 4 · · Zacks
Impact 3 · · Investing.com
Impact 3 · · Trefis

3 Nov

Impact 3 · · StockStory

31 Oct

Impact 3 · · StockStory

30 Oct

Impact 3 · · Zacks

29 Oct

Impact 4 · · The Motley Fool
Impact 4 · · Zacks earnings
Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 3 · · Simply Wall St.

28 Oct

Impact 4 · · MarketBeat
Impact 4 · · Investing.com
Impact 4 · · Associated Press
Impact 4 · · StockStory earnings
Impact 4 · · PR Newswire
Impact 3 · · Zacks
Impact 3 · · Simply Wall St.
Impact 3 · · Zacks
Impact 3 · · Trefis

27 Oct

Impact 3 · · Trefis
Impact 3 · · StockStory
Impact 3 · · Insider Monkey

26 Oct

Impact 4 · · Zacks
Impact 3 · · Insider Monkey
Impact 3 · · Trefis
Impact 3 · · Trefis

23 Oct

Impact 4 · · TIKR
Impact 3 · · Zacks

KLAC metrics, ten years each

stockrow.com/KLAC · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com