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Earnings transcript
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KLAC
KLA Corporation
$259.56
20.83
(8.73%)
| Exchange: | NASDAQ |
| Market Cap: | 339.058B |
| Shares Outstanding: | 68.176M |
Delayed data
About The Company
| Sector: | Technology | |||||
| Industry: | Semiconductors | |||||
| CEO: | Richard Wallace | |||||
| Full Time Employees: | 15000 | |||||
| Address: |
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| Website: | https://www.kla.com |
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.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 10,496,056 | 9,812,247 | 12,156,162 |
| Gross Profit | 6,277,749 | 5,884,174 | 7,575,158 |
| EBITDA | 4,501,243 | 3,903,015 | 5,340,702 |
| Operating Income | 3,994,696 | 3,635,684 | 5,241,045 |
| Net Income | 3,387,277 | 2,761,896 | 4,061,643 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 14,072,357 | 15,433,566 | 16,067,926 |
| Total Liabilities | 11,152,604 | 12,065,238 | 11,375,473 |
| Total Stockholders Equity | 2,919,753 | 3,368,328 | 4,692,453 |
| Total Debt | 6,063,132 | 6,819,643 | 5,884,257 |
| Cash and Cash Equivalents | 1,927,865 | 1,977,129 | 2,078,908 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 3,669,805 | 3,308,575 | 4,081,903 |
| Capital Expenditure | -341,591 | -277,384 | -340,209 |
| Free Cash Flow | 3,328,214 | 3,031,191 | 3,741,694 |
| Net Income | 3,387,351 | 2,761,896 | 4,061,643 |
| Net Change in Cash | 342,957 | 49,264 | 101,779 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 23,366,894.332 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 25,909,737.297 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 24,845,700 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 9,877,992.780 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 10,952,940.271 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 10,503,134.979 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 941,303.082 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,077,045.958 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,020,245.007 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 2,206,422.938 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 2,446,531.314 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 2,346,059.413 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 7.630 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 8.050 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 7.040 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 8 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 5 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: KLA Corporation reported strong financial results in the June Quarter 2025 earnings call, with key metrics such as revenue and net income exceeding expectations. Historical income statements reflect consistent growth in revenue and gross profit, supported by healthy operating margins, indicating operational efficiency.
- Strong Cash Flow Generation: Cash flow statements highlight significant net cash provided by operating activities and positive free cash flow trends over recent years. The freeCashFlowYieldTTM metric suggests a solid return on investment for shareholders, reinforcing financial stability.
- Market Position and Innovation: As noted in the earnings call transcript, KLA maintains a leadership position in the semiconductor equipment industry through sustained investment in R&D. Their focus on advanced technologies aligns with industry demands for cutting-edge solutions, enhancing competitive advantage.
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Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates KLAC intrinsic value between $327.50 – $656.05 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about KLAC valuation
Is KLA Corporation (KLAC) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for KLA Corporation (KLAC) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is KLAC a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether KLAC trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is KLAC’s P/E ratio?
You can see KLAC’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for KLAC?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is KLAC a good long-term investment?
Whether KLAC fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
KLAC
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Daily snapshot
8.73
Trading Metrics:
| Open: | 251.77 | Previous Close: | 238.73 | |
| Day Low: | 250.5 | Day High: | 263.95 | |
| Year Low: | 83.22 | Year High: | 267.17 | |
| Price Avg 50: | 191.88 | Price Avg 200: | 143.53 | |
| Volume: | 23.001M | Average Volume: | 10.254M |
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Login — it's freeKLAC full analysis
Hey everyone, welcome back to the channel. Today we are diving deep into KLA Corporation, ticker KLAC. This is a company that sits at the absolute heart of the semiconductor industry, but it’s not a chip designer or a manufacturer in the traditional sense. We are talking about the company that makes the machines that check the machines. If you want to understand the hidden moat in semiconductor investing, this is the stock to analyze. Let’s get into it. KLA…
