# KLA Corporation (KLAC)

> Source: Nexqual · https://nexqual.com/KLAC · data as of 2026-10-23 15:06 UTC · cite as "Nexqual, KLA Corporation (KLAC), nexqual.com/KLAC" · informational, not investment advice.

**Price:** USD 148.31 (+0.32% today) · US market open, as of October 23, 2026 at 15:06 UTC; quotes may be delayed. Prev close 147.83 · day 145.74–149.83 · 52w 107.2–307.37 · market cap $194B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $13.6B, net income $4.83B (35.6% margin), free cash flow $3.77B (SEC filings).
- Valuation: P/E 40.1x (avg 50.9x at the last 3 fiscal year-ends), net debt $4.24B.
- 3 of 80 tracked superinvestors hold KLAC (13F, Q2 2026): 1 new, 2 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.17 on a 1–5 scale) (30 analysts), mean target USD 232.38 (range 175–325).
- Total return with dividends: 1Y +28.6% vs S&P 500 +14.8%; 5Y +317.7% vs S&P 500 +77.5%.
- Next earnings: 2026-10-28, EPS estimate USD 1.18, revenue estimate $4.04B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $9.21B | $10.5B | $9.81B | $12.2B | $13.6B | $13.6B |
| Gross profit | $5.62B | $6.28B | $5.88B | $7.40B | $8.32B | — |
| Net income | $3.32B | $3.39B | $2.76B | $4.06B | $4.83B | $4.83B |
| EPS (diluted) | $2.19 | $2.42 | $2.03 | $3.04 | $3.66 | — |
| Free cash flow | $3.01B | $3.33B | $3.03B | $3.75B | $3.77B | $3.77B |
| Gross margin | 61.0% | 59.8% | 60.0% | 60.9% | 61.3% | — |
| Net margin | 36.1% | 32.3% | 28.1% | 33.4% | 35.6% | 35.6% |
| Revenue growth | +33.1% | +13.9% | -6.5% | +23.9% | +11.7% | — |
| Cash + short-term investments | — | $1.93B | $1.98B | $2.08B | $1.65B | — |
| Total debt | $6.66B | $5.89B | $6.63B | $5.88B | $5.89B | — |
Fiscal years end Jun. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 40.1x · P/S 14.3x · EV/Sales 14.6x · P/FCF 51.4x · P/B 30.5x · FCF yield 1.95% · Earnings yield 2.50% · Dividend yield (paid, TTM) 0.55% · Buyback yield (TTM) 1.18% · Net debt $4.24B · EV $198B
P/E at fiscal year-ends: Jun 2026 82.4x, Jun 2025 29.5x, Jun 2024 40.7x.

## Superinvestors (SEC 13F-HR, Q2 2026)
3 of 80 tracked investors hold KLAC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Jensen Investment Management |  | 5.78% | $238M | Added +377.2% |
| Torray Funds |  | 1.50% | $11.1M | Added +737.5% |
| Lee Ainslie | Maverick Capital | 0.02% | $1.7M | New position |

## Analysts
Consensus Buy (mean 2.17 on a 1–5 scale), 30 analysts; mean target USD 232.38 (low 175, high 325).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-06 | Morgan Stanley | Target lowered | Overweight | $253 → $227 |
| 2026-09-01 | UBS | Target lowered | Neutral | $215 → $200 |
| 2026-07-29 | Stifel | Target lowered | Buy | $270 → $250 |
| 2026-07-29 | RBC Capital | Target raised | Sector Perform | $170 → $180 |
| 2026-07-29 | Susquehanna | Target lowered | Neutral | $275 → $215 |
| 2026-07-29 | Wells Fargo | Target lowered | Overweight | $305 → $245 |
| 2026-07-29 | Cantor Fitzgerald | Reiterated | Overweight | $325 |
| 2026-07-29 | JP Morgan | Target raised | Overweight | $200 → $238 |
| 2026-07-29 | Needham | Reiterated | Buy | $270 |
| 2026-07-29 | Deutsche Bank | Target lowered | Hold | $220 → $195 |
| 2026-07-29 | Jefferies | Target raised | Buy | $200 → $210 |
| 2026-07-20 | UBS | Target lowered | Neutral | $255 → $240 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +28.6% | +317.7% |
| S&P 500 (SPY) | +14.8% | +77.5% |
| Per year | +28.7% | +33.1% |
| Volatility (annualized) | 61.1% | 44.6% |
| Max drawdown | -51.0% (Jun 2026→Oct 2026) | -43.0% (Jun 2026→Oct 2026) |

## Peers (Semiconductor Equipment & Materials)
LRCX (Lam Research Corporation) USD 230.47 +0.14% · AMAT (Applied Materials, Inc.) USD 381.13 +1.48% · ASML (ASML Holding N.V. - New York Re) USD 1,569.79 +0.59% · TER (Teradyne, Inc.) USD 313.35 +1.49% · Q (Qnity Electronics, Inc.) USD 108.23 -0.51% · ENTG (Entegris, Inc.) USD 132.26 +3.08%

## More
Full page: https://nexqual.com/KLAC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in KLAC's own 10-K filed 2026-08-06 (https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Applied Materials (AMAT) | "In each of our product markets, we have many competitors, including companies such as Applied Materials, Inc., ASML Holding N.V., Hitachi High-Tech Corporation, Lasertec, Inc. and Onto Innovation, Inc., some of which may…" |
| Competitor | ASML (ASML) | "In each of our product markets, we have many competitors, including companies such as Applied Materials, Inc., ASML Holding N.V., Hitachi High-Tech Corporation, Lasertec, Inc. and Onto Innovation, Inc., some of which may…" |

Other companies that name KLAC in their own reports (relationship from KLAC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| competitor | ONTO INNOVATION INC. (ONTO) | 10-K 2026-02-24 | "In automated systems for the semiconductor industry, our principal competitors are KLA Corporation ("KLA") and Nova Ltd. (formerly Nova Measuring Instruments Ltd.) ("Nova") for thin film and critical …" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Semiconductor Process Control | $3.26B | 89.0% | +13.2% |
| PCB and Component Inspection | $241.1M | 6.6% | +56.5% |
| Specialty Semiconductor Process | $159.7M | 4.4% | +12.6% |
| Total revenue | $3.66B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $2.84B | 77.6% | +14.8% |
| — Wafer Inspection (part of Product) | $1.78B | 48.7% | +0.5% |
| — Patterning (part of Product) | $728.1M | 19.9% | +60.8% |
| — PCB and Component Inspection (part of Product) | $167.5M | 4.6% | +96.2% |
| — Specialty Semiconductor Process (part of Product) | $136.5M | 3.7% | +11.0% |
| — Other (part of Product) | $23.9M | 0.7% | -39.2% |
| Service | $820.4M | 22.4% | +16.8% |
| Total revenue | $3.66B | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Taiwan | $1.14B | 31.1% | +30.0% |
| China | $956.7M | 26.2% | -0.2% |
| North America | $655.0M | 17.9% | +132.9% |
| Korea | $374.1M | 10.2% | -21.8% |
| Japan | $210.5M | 5.8% | -44.2% |
| Europe and Israel | $167.2M | 4.6% | +33.7% |
| Rest of Asia | $158.0M | 4.3% | +96.1% |
| Total revenue | $3.66B | 100% | — |

## Customer concentration

Period ended 2026-06-30: 19% of revenue from unnamed direct customers (10-K, filed 2026-08-06).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.18 | $1.13 | +3.9% | $4.04B | 22 |
| Next quarter (ends 2026-12-31) | $1.36 | $1.29 | +5.0% | $4.49B | 22 |
| Current fiscal year (ends 2027-06-30) | $5.44 | $5.17 | +5.1% | $18.14B | 25 |
| Next fiscal year (ends 2028-06-30) | $6.74 | $6.28 | +7.4% | $21.57B | 22 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-28): ±8.7%; last 8 reports averaged ±5.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 77.8% | ±8.7% |
| 2026-11-06 | 14 | 67.5% | ±10.6% |
| 2026-11-13 | 21 | 65.0% | ±12.6% |
| 2026-11-20 | 28 | 60.8% | ±13.5% |
| 2026-11-27 | 35 | 60.6% | ±15.0% |
| 2026-12-04 | 42 | 59.2% | ±16.1% |
| 2026-12-18 | 56 | 58.1% | ±18.2% |
| 2027-01-15 | 84 | 54.7% | ±21.0% |