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KLAC

KLA Corporation

KLAC

KLA Corporation • NASDAQ
$1175.47 ▲ 1.41% (+16.40)
Market Cap $154.45 B
52w High $1284.47
52w Low $551.33
Dividend Yield 7.60%
P/E 36.89
Volume 306.98K
Outstanding Shares 131.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $3.21B ▲ $629.449M ▲ $1.121B ▼ 34.927% ▼ $8.51 ▼ $1.478B ▼
Q4-2025 $3.175B ▲ $603.142M ▲ $1.203B ▲ 37.888% ▲ $9.11 ▲ $1.498B ▲
Q3-2025 $3.063B ▼ $586.948M ▼ $1.088B ▲ 35.534% ▲ $8.21 ▲ $1.3B ▲
Q2-2025 $3.077B ▲ $613.238M ▲ $824.527M ▼ 26.798% ▼ $6.18 ▼ $1.242B ▼
Q1-2025 $2.842B $574.187M $945.851M 33.287% $7.05 $1.258B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $4.684B ▲ $16.318B ▲ $11.333B ▼ $4.985B ▲
Q4-2025 $4.495B ▲ $16.068B ▲ $11.375B ▲ $4.692B ▲
Q3-2025 $4.029B ▲ $15.188B ▲ $11.184B ▼ $4.005B ▲
Q2-2025 $3.78B ▼ $15.002B ▼ $11.417B ▼ $3.585B ▲
Q1-2025 $4.63B $15.682B $12.122B $3.56B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $1.121B ▼ $1.162B ▼ $-409.988M ▼ $-881.799M ▼ $-132.697M ▼ $1.066B ▲
Q4-2025 $1.203B ▲ $1.165B ▲ $-325.345M ▼ $-629.813M ▲ $220.886M ▲ $1.065B ▲
Q3-2025 $1.088B ▲ $1.072B ▲ $-319.803M ▼ $-735.199M ▲ $19.744M ▲ $987.174M ▲
Q2-2025 $824.527M ▼ $849.515M ▼ $613.706M ▲ $-1.583B ▼ $-138.924M ▼ $757.192M ▼
Q1-2025 $945.851M $995.238M $-171.039M $-837.708M $73K $934.845M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Defect Inspection
Defect Inspection
 $1.56Bn ▲$1.50Bn ▼$1.77Bn ▲$1.54Bn ▼
Other Revenue
Other Revenue
 $80.00M ▲$20.00M ▼$40.00M ▲$40.00M ▲
Patterning
Patterning
 $530.00M ▲$640.00M ▲$450.00M ▼$670.00M ▲
PCB And Component Inspection
PCB And Component Inspection
 $90.00M ▲$100.00M ▲$90.00M ▼$120.00M ▲
Service
Service
 $670.00M ▲$670.00M ▲$700.00M ▲$740.00M ▲
Specialty Semiconductor Process
Specialty Semiconductor Process
 $140.00M ▲$140.00M ▲$120.00M ▼$100.00M ▼

Five-Year Company Overview

Income Statement

Income Statement KLA’s income statement shows a company that is both highly profitable and clearly tied to the ups and downs of the semiconductor cycle. Revenue has grown strongly over the past five years, with one softer year in the middle and a strong rebound afterward. Profit margins are very high all along the income statement: gross profit, operating profit, and net income all sit at healthy levels, and earnings per share have climbed sharply over time despite some year‑to‑year bumps. This points to strong pricing power and operating discipline. The key risk is cyclicality: results can swing when chipmakers cut or delay spending, even though the longer‑term trend has been upward.

Balance Sheet

Balance Sheet The balance sheet looks like that of a mature, capital‑equipment leader: sizable assets, a meaningful but not extreme debt load, and equity that has rebuilt over time. Cash has steadily increased, but it is not overly large relative to the company’s scale, suggesting management prefers to keep capital working rather than stockpiling it. Debt is noticeable and rose compared with earlier years, but strong earnings and cash flow provide a cushion for interest and repayments. Equity dipped earlier in the period and then recovered, which likely reflects a mix of share repurchases and retained profits. Overall, the balance sheet supports growth and shareholder returns, but the use of debt adds some sensitivity if the industry experiences an extended downturn.

Cash Flow

Cash Flow Cash flow is a major strength. KLA regularly turns a large share of its accounting profit into actual cash, and free cash flow has consistently been strong. The business does not need heavy capital spending compared with the cash it generates, which means more cash is available for dividends, buybacks, debt service, and continued R&D. This “asset‑light but cash‑rich” profile gives KLA flexibility to navigate industry cycles and fund innovation even when revenue growth slows. The main watch point is that cash generation, while robust, will still ebb and flow with semiconductor capital spending cycles.

Competitive Edge

Competitive Edge KLA sits in a privileged spot in the semiconductor equipment world. It dominates the niche of process control and yield management—the “eyes and brains” of the fab—rather than the machines that actually deposit or etch materials. Its tools are deeply embedded in customers’ production lines, and switching away would be technically difficult, risky, and time‑consuming, which creates high switching costs and reinforces its market share lead. A large installed base, recurring service and software, and tight collaboration with top chipmakers all strengthen its moat. On the risk side, KLA is heavily tied to one key segment of the equipment market and to the spending plans of a relatively small group of large chipmakers, which brings concentration, geopolitical, and export‑control risks.

Innovation and R&D

Innovation and R&D Innovation is at the heart of KLA’s edge. The company continues to push inspection and metrology forward with advanced optical systems, e‑beam tools, and heavy use of AI and machine learning in defect detection and data analytics. It is positioning itself at the center of future trends: more complex chip architectures, advanced packaging, and next‑generation transistor designs like Gate‑All‑Around at cutting‑edge nodes. New R&D and manufacturing sites, along with a broadening portfolio for advanced packaging and substrates, show a clear intent to stay ahead of where the industry is going. The trade‑off is that this requires sustained high R&D spending and flawless execution; if technology roadmaps or customer priorities shift, some bets may take longer to pay off.

Summary

Overall, KLA looks like a highly profitable, cash‑generative specialist with a deep moat in a critical part of the semiconductor value chain. Its financials show strong margins, rising earnings over the longer term, and excellent cash conversion, all supported by a balance sheet that uses some leverage but appears well backed by cash flows. Strategically, its dominant position in process control, close ties to leading chipmakers, and ongoing investment in AI‑driven inspection, advanced packaging, and next‑generation nodes support a durable competitive position. The key things to watch are the usual semiconductor cycle swings, the impact of global trade and export rules, the level of debt relative to future downturns, and KLA’s ability to maintain its technology lead as manufacturing becomes even more complex.

NEWS

November 6, 2025 · 4:15 PM UTC

KLA Declares Regular Cash Dividend

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October 29, 2025 · 4:05 PM UTC

KLA Corporation Reports Fiscal 2026 First Quarter Results

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