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KLA Corporation (KLAC) stock

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NASDAQ: KLAC Nasdaq Semiconductor Materials & Equipment Next results ~January 28, 2027

B Fundamentals grade

KLA Corporation is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$130

Cash-flow model

Base case. Range ~$95–$170 across our lower- and higher-growth cases (9.2%–19.2% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 22% above our base value.

Price used: $153.11, November 2, 2026

KLA Corporation valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter KLA files

10-Q filed October 29: KLA

KLA Corporation grew revenue to $14.5bn in the twelve months to September 2026, up 15.8% on a year earlier and faster than the 11.7% pace recorded a quarter earlier. Margins moved the other way: free-cash-flow margin slipped to 27.8% from 31.0%, while operating margin narrowed to 22.6% from 27.0%. Our cash-flow model puts fair value at $126 a share, well below the current $158 price, so the rating remains Sell. At that price, the market appears to be pricing in cash-flow growth of about 21.6% a year for the next five years, far ahead of the 9.5% a year revenue growth KLA has actually delivered.

Source: 10-Q filed October 29, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (2)

10-K filed August 6: KLA

KLA Corporation reported revenue of $14.5bn for the twelve months to June 2026, up 15.8% year-on-year and an acceleration from the 11.7% pace seen a quarter earlier. Profitability, however, moved the other way. Free-cash-flow margin slipped to 27.8%, down from 31.0% a year earlier, while operating margin narrowed to 22.6% from 27.0%. Despite the margin pressure, the company's fundamentals grade improves, moving from C+ to B.

10-K on SEC EDGAR

Where KLA stands after its latest 10-K

Revenue for the twelve months to June 2026 was $13.6bn, up 11.7% on a year earlier, slower than 13.4% a quarter earlier. Free-cash-flow margin fell to 27.7% from 30.8% a year earlier. Operating margin narrowed to 22.6% from 27.0%. The diluted share count is down 4.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $72.83 a share, against a share price of $162. At that price, our model says the market is pricing in about 24.6% a year of cash-flow growth for five years, faster than the 14.4% a year revenue growth it has delivered.

10-K on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

KLA Corporation's trailing-twelve-month revenue grew 15.8% year on year, with a free-cash-flow margin of 27.8%. Where it stands out: gross margin of 61.5% ranks 1 of 19 semiconductor materials & equipment companies we cover. Where it lags: long-term debt as % of assets of 31.1% ranks 11 of 13 semiconductor materials & equipment companies we cover.

Our discounted-cash-flow model values the business at ~$130 per share in the base case (~$95–$170 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 4.1% while net income grew 24.1%: a 20pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.8% over the last 12 months, against a median of 15.8% for semiconductor materials & equipment companies we cover.
  • Growth speeding up. The growth rate is 4.1 points higher than a quarter earlier.
  • Strong cash generation. 27.8% of revenue turned into free cash flow, against a median of 17.5% for semiconductor materials & equipment companies we cover.
  • Shrinking share count. Diluted shares fell 4.5% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Margins narrowing. Operating margin is down 4.4 points on a year ago.
  • Volatile shares. Over the past year the shares showed annualised volatility of 61% and a beta of 2.8 against the S&P 500.
  • Insiders selling. 7 insiders sold $112M of stock over the past 365 days and none bought (99% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was 77% of net income over the last 12 months.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 31.1% ranks 11 of 13 semiconductor materials & equipment companies we cover (median 22.0%).
  • Below peers: change in growth rate. Change in growth rate of +4.1pp ranks 16 of 20 semiconductor materials & equipment companies we cover (median +7.5pp).

Latest results: FY2027 Q1

Filed October 29, 2026
Earnings per share
$1.22 against an average estimate of $1.18: beat by 3.5%
Revenue
$4.14bn, up 28.9% on a year earlier
Share reaction
+9.0% in the first session after the results on October 28, 2026, against 0.0% for the S&P 500
Guidance given
total revenues $4.7bn (second quarter of fiscal 2027); GAAP gross margin 61.8% (second quarter of fiscal 2027)
Next report
January 28, 2027; average EPS estimate $1.43

KLA's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.0%
  • 1 week+2.6%
  • 1 month-26.0%
  • This year+26.5%
  • 1 year+27.4%
  • 5 years+308.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$14.5B
Net margin
36.2%

Growth

Revenue growth
+15.8%
Change in growth rate
+4.1 pts

Cash

Free cash flow (TTM)
$4B
FCF margin
27.8%
Stock pay % of revenue
2.2%

Earnings

Last results
October 28, 2026
Next results (est.)
January 28, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Insider trade
  9. Dividend
  10. Announcement
  11. Announcement
  12. Insider trade
  13. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

KLA Corporation valuation models and calculator

What the price is pricing in

The share price implies about 21.6% a year of cash-flow growth for five years.That is faster than the 9.5% a year revenue growth KLA has delivered.

  • Priced in21.6%
  • Last 12 months15.8%
  • 3 years a year12.6%
  • 5 years a year9.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($157.17, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$130
Price used
$157.17close November 3, 2026
Implied change
▼ 20%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of KLA Corporation's free cash flow after stock-based pay with after-tax interest added back ($4.3B, FY2027 Q1 TTM), growing 33.3% and 15.9% in the next two years (forecasts, guidance and its record), then back to 14.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$95–~$170 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of KLA Corporation's free cash flow after stock-based pay ( $4.3B, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value KLA Corporation as an operating company, with every model that fits that kind of business. Cost of equity 12.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.6 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$130 ~$95–$170 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$97–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$31 ~$28–$34 Left out: far from the other models (more than 3x away from their median)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$120 ~$110–$130 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare KLA Corporation with Semiconductor Materials & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▼ −10%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $44$60$83$112$150$200
8.5% $33$45$61$82$109$144
10% $26$35$48$64$85$111

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$6.21$7.96$9.14$10.85$18.21$30.78$30.66$47.23$81.08$88.90$301.37
Market value$9.7bn$12.5bn$14.4bn$17.0bn$28.8bn$47.8bn$46.5bn$66.2bn$110.4bn$118.9bn$397.7bn
+ Net debt (− = net cash)$2.0bn$1.8bn$846m$2.4bn$2.3bn$2.0bn$5.1bn$4.0bn$4.7bn$3.9bn$4.3bn
Enterprise value$11.7bn$14.3bn$15.2bn$19.5bn$31.0bn$49.9bn$51.5bn$70.2bn$115.1bn$122.8bn$402.0bn
Multiples
Price / sales 3.3x3.6x3.6x3.7x5.0x6.9x5.0x6.3x11.3x9.8x29.3x
Price / earnings 13.8x13.5x17.9x14.5x23.6x23.0x14.0x19.6x40.0x29.3x82.3x
Price / free cash flow 13.4x12.0x12.4x16.7x17.7x24.5x15.5x19.9x36.4x31.7x105.6x
EV / EBITDA ———————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

99 /100

Strong moat

How hard KLA's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 32.3% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 60.8%, moving by 2.1 percentage points (standard deviation) across 10 years.

  • Durability 19 / 20

    Operating margin has been a median 28.5%; its worst year was 22.6%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 30.7% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 12.3% over five years; stock-based pay has been a median 1.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 28, 2027, after the close. Analysts expect revenue of $4.7bn and EPS of $1.43 (range $1.34 to $1.49) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.70 +52% $18.8bn +38%
Next $6.99 +23% $22.3bn +19%

Next year's EPS estimate has moved +6.8% in 90 days, across 22 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.5% on 90 days ago. In the last 30 days, 2 analysts raised KLA Corporation's forecast and 0 cut it.

Consensus EPS forecast KLA Corporation, last 90 days
$5.00 $5.50 $6.00 $6.50 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.45 Current fiscal year, 60 days ago: $5.45 Current fiscal year, 30 days ago: $5.45 Current fiscal year, 7 days ago: $5.46 Current fiscal year, Now: $5.70 $5.70 Next fiscal year, 90 days ago: $6.55 Next fiscal year, 60 days ago: $6.67 Next fiscal year, 30 days ago: $6.71 Next fiscal year, 7 days ago: $6.74 Next fiscal year, Now: $6.99 $6.99

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.45$6.55
60 days ago $5.45$6.67
30 days ago $5.45$6.71
7 days ago $5.46$6.74
Now $5.70$6.99

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.18 $1.22 +3.5%
Jun 2026 $1.00 $1.05 +5.1%
Mar 2026 $0.92 $0.94 +2.5%
Dec 2025 $0.88 $0.89 +0.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 28, 2026
  • Total revenues second quarter of fiscal 2027 about $4.7bn
    “Total revenues are expected to be in a range of $4.7 billion +/- $200 million” source
  • GAAP diluted EPS second quarter of fiscal 2027 about $1.41 GAAP
    “GAAP diluted EPS is expected to be in a range of $1.41 +/- $0.11” source
  • Non-GAAP diluted EPS second quarter of fiscal 2027 about $1.44 Non-GAAP
    “Non-GAAP diluted EPS is expected to be in a range of $1.44 +/- $0.11” source
  • GAAP net income per diluted share Three Months Ending December 31, 2026 $1.30 to $1.52 GAAP
    “GAAP net income per diluted share $1.30 $1.52” source
  • Non-GAAP net income per diluted share Three Months Ending December 31, 2026 $1.33 to $1.55 Non-GAAP
    “Non-GAAP net income per diluted share $1.33 $1.55” source
  • GAAP gross margin second quarter of fiscal 2027 about 61.8% GAAP
    “GAAP gross margin is expected to be in a range of 61.8% +/- 1.0%” source
Show 3 more items
  • Non-GAAP gross margin second quarter of fiscal 2027 about 62.5% Non-GAAP
    “Non-GAAP gross margin is expected to be in a range of 62.5% +/- 1.0%” source
  • GAAP gross margin Three Months Ending December 31, 2026 60.8% to 62.8% GAAP
    “GAAP gross margin 60.8% 62.8%” source
  • Non-GAAP gross margin Three Months Ending December 31, 2026 61.5% to 63.5% Non-GAAP
    “Non-GAAP gross margin 61.5% 63.5%” source

How earlier guidance turned out

  • GAAP net income per diluted share, Three Months Ending September 30, 2026 guided $1.04 to $1.24 Within range: $1.18
  • Total revenues, first quarter of fiscal 2027 ending in September guided about $4bn Above range: $4.136015bn

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows KLA Corporation's revenue by +33.3% next year and +15.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+35.6%, weight 48%) , management guidance (+42.5%, weight 31%) and the company's own record (+14.2%, weight 21%) . How the weights are set.

Analyst recommendations

29 analysts, Oct 2026
Buy2069%
Hold931%
Sell00%

Monthly trend

  1. Oct 2026515929
  2. Sep 20265141029
  3. Aug 20265141029
  4. Jul 20265131129

Counts of recommendations published by analysts covering KLA Corporation, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.9%
of tradable shares
Days to cover
2.68
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
94%
of shares
Held by insiders
0.1%
of shares
Employees
17,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +27.4%

$120.23 on October 31, 2025 to $153.11

ThenNowEffect
Revenue (last 12 months) $12.2bn $13.6bn +11.7%
Net margin 33.4% 35.6% +6.5%
P/E multiple 39.8x 42.0x +5.4%
Share count 1345m 1324m +1.6%

Biggest factor: revenue.

Last 3 years +213.8%

$48.79 on November 3, 2023 to $153.11

ThenNowEffect
Revenue (last 12 months) $10.5bn $13.6bn +29.4%
Net margin 32.3% 35.6% +10.2%
P/E multiple 20.2x 42.0x +107.7%
Share count 1402m 1324m +5.9%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
KLAC+68%−11%+56%+9%+95%+27%
Industry peers (median)+65%−39%+29%−4%+27%+28%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KLAC75%42%67%42%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KLAC−19%−40%−16%−31%−26%−52%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 52% from June 30, 2026 to October 23, 2026. Getting back needed a 107% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$109.31 – $301.37
From 52-week high
−49.2%
vs 50-day average
−14.0%
vs 200-day average
−15.8%
Volatility (1 year)
61%
Beta vs S&P 500
2.82

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±6.2%
After a week
6 up, 5 down
typical move ±4.5%
After a month
4 up, 7 down
typical move ±6.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 28, 2026 +9.0% 0.0% — —
July 28, 2026 −16.3% −1.3% −3.9% −9.5%
April 29, 2026 −3.2% +1.0% +0.4% +6.4%
January 29, 2026 −12.2% −0.5% −18.2% −5.5%
October 29, 2025 +0.7% −1.1% +1.7% −2.4%
July 31, 2025 −4.1% −2.0% −1.4% −5.5%
April 30, 2025 −1.7% +0.7% +0.9% +10.3%
January 30, 2025 +3.5% 0.0% +6.9% −2.8%
October 30, 2024 −4.3% −2.3% −3.8% −6.8%
July 24, 2024 −5.6% −2.8% +1.9% −1.0%
April 25, 2024 +7.6% +0.6% +3.9% +18.9%
January 25, 2024 −6.1% +0.4% −6.2% +7.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How KLA Corporation’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look fairly priced

Implied volatility is within its normal range against realised. Selling options earns the usual premium, nothing extra.

  • Implied is 1.19× the last 60 days’ realised volatility , richer than 54% of the 229 stocks we screen today.
  • Why: implied is not far enough above realised, or not unusual against our coverage.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

KLAC KLA Corporation Grade B $154.04

Own 100 shares, sell the $155 call expiring December 4, 2026 (32 days) for $9.70 a share — $970 per contract.

Previous session · Bid $9.70, ask $11.10, quoted Mon 2 Nov, 17:27 New York time with KLAC at $154.04. Option prices move with the shares: check the live chain at your broker before trading.

  • If KLAC ends below $155: you keep your shares and the $970 — 6.3% extra on the position, 71.8% a year at that pace.
  • If it ends above $155: your shares are sold at $155, a total return of 6.9% including the premium — at or above our value of ~$130.
$1.1k $0 −$2.9k Our value $130 Break-even $144.34 Price $154.04
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$970
Annualised
71.8%
Break-even
$144.34
Max gain
$1,066.5
Chance of selling
~53%

Collar

Own the shares, buy the $150 put and sell the $160 call, both expiring November 27, 2026 (25 days).

  • Net cost of $1.70 a share ($170 per contract of 100 shares).
  • Worst case at expiry: -3.7%, if the shares fall below $150 (-2.6% from today).
  • Best case at expiry: +2.8%, if the shares rise above $160 (+3.9%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $130: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

KLA Corporation in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) KLA Corporation
$8B $10B $12B $14B $16B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $9.7B Revenue (TTM), FY24 Q3: $9.6B Revenue (TTM), FY24 Q4: $9.8B Revenue (TTM), FY25 Q1: $10.3B Revenue (TTM), FY25 Q2: $10.8B Revenue (TTM), FY25 Q3: $11.6B Revenue (TTM), FY25 Q4: $12.2B Revenue (TTM), FY26 Q1: $12.5B Revenue (TTM), FY26 Q2: $12.7B Revenue (TTM), FY26 Q3: $13.1B Revenue (TTM), FY26 Q4: $13.6B Revenue (TTM), FY27 Q1: $14.5B $14.5B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $9.7B
FY24 Q3 $9.6B
FY24 Q4 $9.8B
FY25 Q1 $10.3B
FY25 Q2 $10.8B
FY25 Q3 $11.6B
FY25 Q4 $12.2B
FY26 Q1 $12.5B
FY26 Q2 $12.7B
FY26 Q3 $13.1B
FY26 Q4 $13.6B
FY27 Q1 $14.5B
Revenue growth, TTM YoY KLA Corporation
-10% 0% 10% 20% 30% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -7.7% Revenue growth, TTM YoY, FY24 Q3: -9.7% Revenue growth, TTM YoY, FY24 Q4: -6.5% Revenue growth, TTM YoY, FY25 Q1: 0.9% Revenue growth, TTM YoY, FY25 Q2: 12.2% Revenue growth, TTM YoY, FY25 Q3: 20.3% Revenue growth, TTM YoY, FY25 Q4: 23.9% Revenue growth, TTM YoY, FY26 Q1: 22.1% Revenue growth, TTM YoY, FY26 Q2: 17.5% Revenue growth, TTM YoY, FY26 Q3: 13.4% Revenue growth, TTM YoY, FY26 Q4: 11.7% Revenue growth, TTM YoY, FY27 Q1: 15.8% 15.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -7.7%
FY24 Q3 -9.7%
FY24 Q4 -6.5%
FY25 Q1 0.9%
FY25 Q2 12.2%
FY25 Q3 20.3%
FY25 Q4 23.9%
FY26 Q1 22.1%
FY26 Q2 17.5%
FY26 Q3 13.4%
FY26 Q4 11.7%
FY27 Q1 15.8%
Operating margin (TTM) KLA Corporation
20% 25% 30% 35% FY12 Q4 FY13 Q3 FY14 Q2 FY15 Q3 Operating margin (TTM), FY12 Q4: 32.0% Operating margin (TTM), FY13 Q1: 30.6% Operating margin (TTM), FY13 Q2: 30.1% Operating margin (TTM), FY13 Q3: 28.5% Operating margin (TTM), FY13 Q4: 25.7% Operating margin (TTM), FY14 Q1: 24.9% Operating margin (TTM), FY14 Q2: 25.9% Operating margin (TTM), FY14 Q3: 27.0% Operating margin (TTM), FY14 Q4: 26.4% Operating margin (TTM), FY15 Q1: 25.1% Operating margin (TTM), FY15 Q2: 24.2% Operating margin (TTM), FY15 Q3: 22.6% 22.6%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY12 Q4 32.0%
FY13 Q1 30.6%
FY13 Q2 30.1%
FY13 Q3 28.5%
FY13 Q4 25.7%
FY14 Q1 24.9%
FY14 Q2 25.9%
FY14 Q3 27.0%
FY14 Q4 26.4%
FY15 Q1 25.1%
FY15 Q2 24.2%
FY15 Q3 22.6%
FCF margin (TTM) KLA Corporation
26% 28% 30% 32% 34% 36% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 32.8% FCF margin (TTM), FY24 Q3: 32.1% FCF margin (TTM), FY24 Q4: 30.9% FCF margin (TTM), FY25 Q1: 30.7% FCF margin (TTM), FY25 Q2: 31.0% FCF margin (TTM), FY25 Q3: 30.4% FCF margin (TTM), FY25 Q4: 30.8% FCF margin (TTM), FY26 Q1: 31.0% FCF margin (TTM), FY26 Q2: 34.4% FCF margin (TTM), FY26 Q3: 30.7% FCF margin (TTM), FY26 Q4: 27.7% FCF margin (TTM), FY27 Q1: 27.8% 27.8%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 32.8%
FY24 Q3 32.1%
FY24 Q4 30.9%
FY25 Q1 30.7%
FY25 Q2 31.0%
FY25 Q3 30.4%
FY25 Q4 30.8%
FY26 Q1 31.0%
FY26 Q2 34.4%
FY26 Q3 30.7%
FY26 Q4 27.7%
FY27 Q1 27.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jun 2010 2011 Jun 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jun 2021 2022 Jun 2022 2023 Jun 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026 LTM Sept 2026
Income
Revenue 1.8 3.2 3.2 2.8 2.9 2.8 3.0 3.5 4.0 4.6 5.8 6.9 9.2 10.5 9.8 12.2 13.6 14.5
Gross profit 1.0 1.9 1.8 1.6 1.7 1.6 1.8 2.2 2.6 2.7 3.4 4.1 5.6 6.3 5.9 7.4 8.3 8.9
EBITDA 0.4 1.2 1.1 0.8 0.9 — — — — — — — — — — — — —
Operating income 0.3 1.2 1.0 0.7 0.8 — — — — — — — — — — — — —
Net income 0.2 0.8 0.8 0.5 0.6 0.4 0.7 0.9 0.8 1.2 1.2 2.1 3.3 3.4 2.8 4.1 4.8 5.3
Diluted EPS $1.23 $4.66 $4.44 $3.21 $3.47 $2.24 $4.49 $5.88 $5.10 $7.49 $7.70 $13.37 $21.92 $24.15 $2.03 $3.04 $3.66 —
Growth (year on year)
Revenue +19.8% +74.4% −0.1% −10.4% +3.0% −3.9% +6.1% +16.6% +16.0% +13.2% +27.1% +19.2% +33.1% +13.9% −6.5% +23.9% +11.7% +15.8%
EBITDA — +210.4% −11.1% −26.3% +4.6% — — — — — — — — — — — — —
Operating income — +269.3% −12.4% −28.2% +5.8% — — — — — — — — — — — — —
Net income — +274.2% −4.8% −28.2% +7.3% −37.2% +92.4% +31.5% −13.4% +46.5% +3.5% +70.8% +59.8% +2.0% −18.5% +47.1% +18.9% +24.1%
Diluted EPS — +278.9% −4.7% −27.7% +8.1% −35.4% +100.4% +31.0% −13.3% +46.9% +2.8% +73.6% +63.9% +10.2% −91.6% +49.8% +20.4% —
Margins
Gross margin 55.2% 60.3% 58.1% 56.5% 57.9% 56.8% 61.0% 63.0% 64.2% 59.1% 57.8% 59.9% 61.0% 59.8% 60.0% 60.9% 61.3% 61.5%
EBITDA margin 22.1% 39.3% 34.9% 28.7% 29.2% — — — — — — — — — — — — —
Operating margin 17.3% 36.5% 32.0% 25.7% 26.4% — — — — — — — — — — — — —
Net margin 11.7% 25.0% 23.8% 19.1% 19.9% 13.0% 23.6% 26.6% 19.9% 25.7% 21.0% 30.0% 36.1% 32.3% 28.1% 33.4% 35.6% 36.2%
Free-cash-flow margin 22.9% 24.3% 27.9% 29.5% 24.3% 19.9% 24.4% 29.9% 28.8% 22.4% 28.0% 28.2% 32.6% 31.7% 30.9% 30.8% 27.7% 27.8%
Cash flow
Cash from operations 0.4 0.8 0.9 0.9 0.8 0.6 0.8 1.1 1.2 1.2 1.8 2.2 3.3 3.7 3.3 4.1 4.1 4.5
Capital spending 0.0 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.1 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.5
Free cash flow 0.4 0.8 0.9 0.8 0.7 0.6 0.7 1.0 1.2 1.0 1.6 2.0 3.0 3.3 3.0 3.7 3.8 4.0
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.3 0.3
Free cash flow after stock pay 0.3 0.7 0.8 0.8 0.7 0.5 0.7 1.0 1.1 0.9 1.5 1.8 2.9 3.2 2.8 3.5 3.5 3.7
Balance sheet
Cash 0.5 0.7 0.8 1.0 0.6 0.8 1.1 1.2 1.4 1.0 1.2 1.4 1.6 1.9 2.0 2.1 1.6 1.5
Total debt 0.7 0.7 0.7 0.7 0.8 3.2 3.1 2.9 2.3 3.5 3.5 3.4 6.7 5.9 6.6 6.0 6.0 6.0
Net debt (negative = net cash) 0.2 0.0 −0.0 −0.2 0.1 2.4 2.0 1.8 0.8 2.4 2.3 2.0 5.1 4.0 4.7 3.9 4.3 4.4
Diluted shares 1,730m 1,704m 1,701m 1,693m 1,681m 1,637m 1,568m 1,575m 1,574m 1,569m 1,580m 1,554m 1,516m 1,402m 1,362m 1,338m 1,320m —
Returned to shareholders
Dividends 0.1 0.2 0.2 0.3 0.3 3.0 0.3 0.3 0.4 0.5 0.5 0.6 0.6 0.7 0.8 0.9 1.1 1.1
Buybacks 0.1 0.2 0.3 0.3 0.2 0.6 0.2 0.0 0.2 1.1 0.8 0.9 4.0 1.3 1.7 2.1 2.3 2.7
Total returned 0.2 0.4 0.5 0.5 0.5 3.6 0.5 0.4 0.6 1.6 1.4 1.5 4.6 2.0 2.5 3.1 3.3 3.8

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · September 30, 2026
What it owns · $18.4bn
Short-term assets $12.6bnLonger-term assets $5.8bn
What it owes, and who funded it · $18.4bn
Short-term liabilities $4.6bnLonger-term liabilities $7.3bnShareholders' equity $6.5bn
  • Short-term assets cover short-term liabilities $12.6bn of assets due within a year against $4.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $12.6bn short-term assets against $7.3bn of longer-dated liabilities.
  • More cash than debt $1.5bn of cash against $5.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 88% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 91% to 88% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.5bn of operating cash flow against $5.7bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From KLA Corporation's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$2.7B
Dividends (TTM)
$1.1B
Returned to shareholders
94%
of free cash flow
Buybacks, last 3 fiscal years
$6.2B
Total shareholder yield
1.9%
dividends 0.6% + buybacks 1.3% of market value
Dividend payout ratio
21%
of net income paid out
R&D spending
10.8%
of revenue
Sales & admin spending
8.0%
of revenue
Days sales outstanding
77 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductor materials & equipment
Last 12 months unless stated KLAC LRCX AMAT ASML TER MKSI Median
Revenue, last 12 months $14.5bn $26.1bn $30.8bn $36.9bn $5.0bn $4.3bn $994m
Revenue growth, last 12 months 15.8% 33.4% 7.8% 20.8% 74.9% 16.3% 15.8%
Revenue growth, 3-year average 12.6% 18.2% 5.1% 74.4% 22.2% 4.2% 7.8%
Revenue growth, latest quarter 28.9% 54.4% 24.8% — 69.8% 28.3% 33.7%
Gross margin 61.5% 51.1% 49.4% 52.8% 59.3% 47.0% 47.7%
Operating margin 22.6% 37.0% 29.6% 34.6% 32.1% 15.7% 13.2%
Operating margin, 3-year average 26.1% 32.9% 29.6% 32.7% 23.5% 13.3% 16.0%
Net margin 36.2% 32.3% 30.1% 29.4% 27.5% 10.1% 10.9%
Cash from operations / revenue 31.1% 29.0% 27.2% 38.7% 26.6% 14.6% 18.6%
Free-cash-flow margin 27.8% 25.0% 18.2% 33.8% 20.5% 10.5% 15.0%
Free-cash-flow margin, 3-year average 29.8% 28.1% 21.0% 34.4% 17.7% 12.2% 11.9%
Stock pay / revenue 2.2% 1.5% 2.3% 0.6% 1.6% 1.3% 2.4%
Change in share count −4.5% −1.9% −2.0% −1.2% −2.2% 3.3% 0.8%

Median of all 20 companies we cover in semiconductor materials & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

20 semiconductor materials & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 15.8% 15.8% 10 of 20
Change in growth rate Growth +4.1pp +7.5pp 16 of 20
Gross margin Profitability 61.5% 48.2% 1 of 19
Net margin Profitability 36.2% 11.1% 1 of 20
Free-cash-flow margin Cash generation 27.8% 17.5% 3 of 20
Stock pay as % of revenue Cash generation 2.2% 2.5% 9 of 20
Long-term debt as % of assets Balance sheet 31.1% 22.0% 11 of 13
Days sales outstanding Balance sheet 77 days 79 days 8 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 30, 2026
Products and services
Line of business Revenue Share YoY
Products $10.5B 76.7% ▲ 10.4%
Wafer Inspection $6.6B 63.4% ▲ 7.0%
Services $3.1B 29.9% ▲ 16.5%
Specialty Semiconductor Process $503M 4.8% ▼ 2.8%
Other Revenue $153M 1.5% ▼ 25.2%
Patterning $2.7B 19.9% ▲ 23.2%
PCB and Component Inspection $460M 3.4% ▲ 29.3%
Geography
Region Revenue Share YoY
China $4B 29.8% ▲ 0.1%
Taiwan $3.6B 26.8% ▲ 13.7%
South Korea $1.8B 13.5% ▲ 26.2%
North America $1.8B 12.9% ▲ 29.0%
Japan $915M 6.7% ▼ 19.2%
Europe and Israel $727M 5.4% ▲ 26.6%
Rest of Asia $654M 4.8% ▲ 69.6%

From KLA Corporation's 10-K filed August 6, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

13F filings for June 30, 2026
Reported value
$358B
Institutions reporting
2,467
Shares held vs prior quarter
▲ 912.6%
Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $38.1B 126.2M 10.6% ▲ 901.9%
Vanguard Capital Management LLC $25.7B 85.3M 7.2% ▲ 901.5%
State Street Corp $19B 62.9M 5.3% ▲ 922.1%
Capital World Investors $13.7B 45.3M 3.8% ▲ 1009.6%
Invesco Ltd. $13.5B 44.8M 3.8% ▲ 916.3%
FMR LLC $13B 43.0M 3.6% ▲ 877.1%
Vanguard Portfolio Management LLC $11.9B 39.4M 3.3% ▲ 877.6%
Geode Capital Management, LLC $11B 36.5M 3.1% ▲ 893.4%
Capital International Investors $10.7B 35.6M 3.0% ▲ 1203.4%
Primecap Management Co $6.2B 20.5M 1.7% ▲ 742.5%
Goldman Sachs Group Inc $6.1B 20.1M 1.7% ▲ 1003.7%
Norges Bank $5.9B 19.6M 1.6% —

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not KLA Corporation's complete shareholder register. Values are as reported by the filers ; 29 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $112M 22 trades by 7 insiders · 99% under pre-set plans
Net ▼ $112M net selling
Insider Date Trade Shares Price Value
Wallace Richard P President and CEO September 15, 2026 Sell pre-set plan 72,019 $171.88 $12.4M
Lorig Brian EVP, KLA Global Services August 13, 2026 Sell pre-set plan 59,586 $208.13 $12.4M
Higgins Bren D. EVP & Chief Financial Officer August 12, 2026 Sell pre-set plan 31,500 $209.87 $6.6M
Wallace Richard P President and CEO August 11, 2026 Sell pre-set plan 87,568 $198.95 $17.4M
Khan Ahmad A. President, Semi. Prod. & Cust. August 11, 2026 Sell pre-set plan 33,180 $198.95 $6.6M
Wilkinson Mary Beth EVP, CLO and Secretary August 10, 2026 Sell pre-set plan 1,661 $204.56 $339,774
Kirloskar Virendra A SVP & Chief Accounting Officer August 10, 2026 Sell pre-set plan 529 $204.56 $108,212
Kirloskar Virendra A SVP & Chief Accounting Officer August 7, 2026 Sell pre-set plan 2,405 $197.57 $475,156
Wilkinson Mary Beth EVP, CLO and Secretary August 7, 2026 Sell pre-set plan 21,831 $197.57 $4.3M
Kirloskar Virendra A SVP & Chief Accounting Officer August 5, 2026 Sell pre-set plan 4,504 $195.50 $880,532
Wilkinson Mary Beth EVP, CLO and Secretary August 5, 2026 Sell pre-set plan 13,802 $195.50 $2.7M
Kirloskar Virendra A SVP & Chief Accounting Officer August 4, 2026 Sell pre-set plan 1,565 $191.59 $299,838

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 23 trades and filings

In the last 12 months, 2 members of Congress disclosed 1 purchase and 1 sale of KLA Corporation shares.

  • Michael A. Rulli(R-OH 6):Purchase, $1,001 - $15,000, traded July 1, 2026, filed August 7, 2026
  • Lizzie Fletcher(D-TX 7):Sale (partial), $1,001 - $15,000, traded April 8, 2026, filed May 1, 2026
  • Val T. Hoyle(D-OR 4):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed October 10, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 28, 2026
  • July 28, 2026
  • April 29, 2026
  • January 29, 2026
  • October 29, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on KLA Corporation was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

KLA Corporation in brief

What does KLA Corporation do?
KLA Corporation is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in June.
What is KLA Corporation's stock ticker?
KLA Corporation trades under the ticker KLAC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is KLA Corporation's revenue, and how fast is it growing?
Over its most recent trailing twelve months, KLA Corporation reported revenue of $14.5B, 15.8% higher than a year earlier, according to its SEC filings.
What is KLA Corporation's free cash flow?
KLA Corporation's free-cash-flow margin is 27.8% of revenue over the trailing twelve months, ranking 3 of the 20 semiconductor materials & equipment companies we cover.
What is KLA Corporation's fair value (intrinsic value) per share?
Our discounted-cash-flow model of KLA Corporation's free cash flow after stock-based pay gives ~$130 per share in the base case, and ~$95–$170 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are KLA Corporation's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is KLA Corporation's market cap?
On June 30, 2026, KLA Corporation's market capitalisation was about $398B, with a price-to-earnings ratio of 82.3 and net debt of $4.3B. Market figures come from third-party market data and may be delayed.
Does KLA Corporation pay a dividend?
Yes: KLA Corporation paid $1.1B in dividends over the trailing twelve months, a dividend yield of 0.55% and a payout ratio of 21.1%.
How much debt does KLA Corporation have?
KLA Corporation's debt-to-equity ratio is 87.7%, from its latest balance sheet (90.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are KLA Corporation's competitors?
In our Semiconductor Materials & Equipment peer group, the companies closest to KLA Corporation are Lam Research, Applied Materials, Asml Holding NV, Teradyne and MKS Inc. The side-by-side comparison below sets their revenue, margins and growth against KLA Corporation's.
Are insiders buying or selling KLA Corporation stock?
Over the last 12 months, KLA Corporation's directors and officers reported 0 open-market purchases and 22 sales on Form 4. The insider trading page charts every trade.
When is KLA Corporation's next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — KLA Corporation announces its own schedule.