Kla Corp (KLAC)
Information Technology · Semiconductor Materials & Equipment · US stock · S&P 500 component
$147.83
▼ -15.60 (9.55%)
Fair valueFair
$126 −14.8% to fair value
$63fair band $107–$153$189
Day's range
$146.55 – $155.04
52-week range
$107.20 – $307.37
Red flags⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk⚠ Dividend may be at risk
About Kla Corp
KLA makes process control and yield management equipment for the semiconductor industry. Its machines inspect wafers and photomasks for defects and measure the tiny features on chips so manufacturers can find problems early. The company earns money by selling these systems to chipmakers and equipment partners, and by providing service, software and upgrades over the long life of each installed tool, which ties its results to chip factory investment.
Sales totalled $13.6 billion over the last twelve months, and the three-year record shows growth of 9.0% a year. The operating margin is 43.4%, and the return on invested capital is 47%. The balance sheet shows net debt to EBITDA of 0.7 times. Shareholders receive a dividend, currently yielding 4.3%. The site's X-Ray Score for the company is 50 out of 100. These figures describe past results and the present financial position only.
Price chart
52-wk range $107.20 – $307.37Volume 20,725,326Daily, split-adjusted
Vitals
Market cap$195.1B
52-week range$107.20 – $307.37
Volume (last day)20,725,326
P/E (TTM)13.1
EBIT / EV yield3.0%
Free-cash-flow yield1.9%
Dividend yield4.3%
Revenue (TTM)$13.6B
Net income (TTM)$4.8B
Operating margin43.4%
Return on capital46.8%
Debt incl. leases$6.2B
Cash & securities$1.6B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$126middle half of models $118 – $133
Fair
−14.8% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Low, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $148
Undervalued < $107Fair $107 – $153Overvalued > $153
P/E multiple
$140
P/B multiple
$128
P/S multiple
$113
EV/EBITDA multiple
$136
EV/EBIT multiple
$123
EV/revenue multiple
$121
10-year DCF, EBITDA exit
$116
5-year DCF, EBITDA exit
$134
10-year DCF, revenue exit
$115
5-year DCF, revenue exit
$132
10-year DCF, growth exit · not used
$49
5-year DCF, growth exit · not used
$46
Dividend discount, stable · not used
$21
Dividend discount, multi-stage · not used
$36
Earnings power value · not used
$57
Growth the price implies
31.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
33/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.0%
Free-cash-flow yield1.9%
Fair value vs price0.9×
Growth
Weak
33/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)9.0%
EPS growth (3y)-46.7%
Growth consistency90%
Profitability
Fair
65/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital46.8%
Operating margin43.4%
Gross profitability46.4%
Financial health
Fair
64/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA0.7×
Interest cover20.7×
Dividends
Fair
62/100
Dividend is typical for its sector.
See the numbers →
Dividend yield4.3%
Dividends vs free cash flow222%
Dividend growth13.0%
Quarterly results: last 6 quarters
+29.8%
Mar '25
+23.6%
Jun '25
+13.0%
Sep '25
+7.2%
Dec '25
+11.5%
Mar '26
+15.2%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.7B.
Compare with peers
LRCX Lam Research Corp58 AMAT Applied Materials Inc49 TER Teradyne, Inc47 Q Qnity Electronics, Inc...41Other Semiconductor Materials & Equipment companies by X-Ray Score.
SWOT analysis: Kla Corp
Strengthsinside the company
- Return on invested capital is 46.8%, against a median of 35.3% for industry peers.
- Operating margin of 43.4% is well above the 29.9% median of industry peers, a sign of pricing power or lower costs.
- Operating profit covers interest 21x, so debt costs are a small drag.
- Passes 7 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- Earnings per share have declined 46.7% a year over three years.
- Dividends (4.3% yield) are larger than free cash flow (payout 222% of it).
Opportunitiesvaluation and setting
- Our Market Compass rates the backdrop for Information Technology as favourable.
Threatsvaluation and setting
- Earnings in Semiconductor Materials & Equipment follow the industry cycle, so margins and profits can swing from year to year.
- Our checks raised: Dividend may be at risk; Dividend may be at risk.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare KLAC with peers and sector
Medians of 4 Semiconductor Materials & Equipment peers and of 74 Information Technology stocks in our universe.
Largest peers (X-Ray Score): AMAT 49, LRCX 58, TER 47, Q 41.
| Metric | KLAC | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 50 | 48 | 50 |
| Valuation | 33 | 36 | 52 |
| Growth | 33 | 34 | 54 |
| Profitability | 65 | 59 | 49 |
| Financial health | 64 | 72 | 49 |
| Dividends | 62 | 42 | 50 |
Sector leaders: highest X-Ray Score in Information Technology
KLAC ranks #38 of 75 in Information Technology and #2 of 5 in Semiconductor Materials & Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for KLAC
Each factor is rated by where KLAC stands among the 75 Information Technology stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 6 Good · 8 Average · 9 Bad of 23
Growth: 0 · 2 · 1
Profitability: 4 · 1 · 0
Financial strength: 2 · 2 · 0
Valuation: 0 · 2 · 3
Cash flow: 0 · 1 · 3
Efficiency: 0 · 0 · 2
| Factor | KLAC | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.0% | Average beats 48% | +9.7% | – | – |
| Revenue growth, last year | +11.7% | Average beats 41% | +13.7% | +13.9% | ▼ Worse |
| EPS growth, 3 years a year | −46.7% | Bad beats 4% | +5.9% | – | – |
| Profitability | |||||
| Gross margin | 61.3% | Average beats 57% | 57.8% | 60.9% | ≈ In line |
| Operating margin | 43.4% | Good beats 90% | 20.3% | 39.6% | ≈ In line |
| Net margin | 35.6% | Good beats 87% | 17.8% | 33.4% | ≈ In line |
| Return on invested capital | 46.8% | Good beats 77% | 19.4% | – | – |
| Return on equity | 76.1% | Good beats 88% | 21.0% | 86.6% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | 0.7x | Average beats 52% | 0.8x | 0.9x | ≈ In line |
| Interest cover | 20.7x | Average beats 49% | 23.0x | 16.4x | ▲ Better |
| Current ratio | 2.88 | Good beats 82% | 1.57 | 2.50 | ▲ Better |
| Piotroski F-score | 7 / 9 | Good beats 68% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 40.4x | Average beats 38% | 33.6x | 40.7x | ≈ In line |
| Price / book | 30.7x | Bad beats 9% | 8.3x | 33.3x | ≈ In line |
| Price / sales | 14.4x | Bad beats 19% | 6.9x | 11.4x | ▼ Worse |
| EV / EBITDA | 31.8x | Average beats 36% | 24.7x | 30.0x | ≈ In line |
| Free cash flow yield | 1.9% | Bad beats 27% | 3.4% | 2.7% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 27.7% | Average beats 62% | 22.3% | 30.9% | ▼ Worse |
| Cash from operations / net income | 0.86 | Bad beats 10% | 1.39 | 1.00 | ▼ Worse |
| Free cash flow growth, 3 years a year | +4.2% | Bad beats 27% | +15.4% | – | – |
| Accruals (lower is better) | +3.8% | Bad beats 9% | −4.4% | – | – |
| Efficiency | |||||
| Inventory turnover | 1.4x | Bad beats 1% | 3.9x | 1.5x | ≈ In line |
| Days sales outstanding | 78 days | Bad beats 28% | 63 days | 68 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 6 Good · ● 5 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreGood
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalGood
Operating marginGood
Gross profitabilityGood
Each check is graded against the company's sector, not a fixed number. Checklist score 48/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $9.2B | $10.5B | $9.8B | $12.2B | $13.6B |
| Operating income | $3.6B | $4.1B | $3.5B | $4.9B | $5.9B |
| Net income | $3.3B | $3.4B | $2.8B | $4.1B | $4.8B |
| Operating cash flow | $3.3B | $3.7B | $3.3B | $4.1B | $4.1B |
| Operating margin | 39.6% | 38.9% | 35.7% | 40.7% | 43.4% |
| Free cash flow | $3.0B | $3.3B | $3.0B | $3.7B | $3.8B |
| Diluted EPS | $21.92 | $24.15 | $2.03 | $3.04 | $3.66 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
4 bullish · 0 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 172.8 | Bearish |
| EMA 10 | 169.7 | Bearish |
| SMA 20 | 185.1 | Bearish |
| EMA 20 | 177.5 | Bearish |
| SMA 50 | 183.7 | Bearish |
| EMA 50 | 185.1 | Bearish |
| SMA 100 | 202.7 | Bearish |
| EMA 100 | 187.8 | Bearish |
| SMA 200 | 181.3 | Bearish |
| EMA 200 | 176.3 | Bearish |
Oscillators (daily)
| RSI (14) | 24.10 | Bullish |
| MACD (12, 26) | -7.63 | Bearish |
| Momentum (12) | -25.13 | Bearish |
| Stochastic %K (14) | 2.10 | Bullish |
| Williams %R (14) | -97.90 | Bullish |
| CCI (20) | -176.8 | Bullish |
Pivot points (classic, last session)
S3 136.1 | S2 141.3 | S1 144.6 | Pivot 149.8 | R1 153.1 | R2 158.3 | R3 161.6 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.33 USD
Yield on today's price
4.28%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.2300 | |
| 2.3000 | |
| 1.9000 | |
| 1.9000 | |
| 1.9000 | |
| 1.9000 | |
| 1.7000 | |
| 1.7000 | |
| 1.4500 | |
| 1.4500 | |
| 1.4500 | |
| 1.4500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold KLAC
| ETF | Share of the fund |
|---|---|
| GARP iShares MSCI USA Quality GARP | 6.45% |
| SOXX iShares Semiconductor | 5.64% |
| SMH VanEck Semiconductor | 5.57% |
| PSI Invesco Dynamic Semiconductors | 5.33% |
| FTXL First Trust Nasdaq Semiconductor | 4.29% |
| RDVY First Trust Rising Dividend Achievers | 4.14% |
| QLTY GMO U.S. Quality | 3.98% |
| CHPY YieldMax Semiconductor Portfolio Optio... | 3.68% |
The eight funds with the largest weight in KLAC among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
KLAC stock splits
KLAC has split its stock 3 times since 1995. The latest was a 10-for-1 split on 12 Jun 2026.
Full KLAC stock split history →KLAC SEC filings
DEF 14ASEC EDGAR
Proxy statement
8-KSEC EDGAR
Other events
10-KSEC EDGAR
Annual report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Current report
8-KSEC EDGAR
Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.