KLA (KLAC)

Market Price (11/1/2026): $158.61 | Market Cap: $206.7 BilInvestor Relations Sector: Information Technology | Industry: Semiconductor Materials & Equipment

KLA (KLAC)

Market Price (11/1/2026): $158.61
Market Cap: $206.7 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment

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Generate Income. write calls on KLAC shares you own Get Paid To Wait. collect premium for a lower entry Buy Pullbacks. build the position on a schedule

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Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 43%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%, CFO LTM is 4.5 Bil, FCF LTM is 4.0 Bil

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -51%

Stock buyback support
Stock Buyback 3Y Total is 6.7 Bil

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, Automation & Robotics, Advanced Materials, and 5G & Advanced Connectivity. Show more.

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3%

Key risks
KLAC key risks include [1] its substantial revenue from China being threatened by U.S. Show more.

0	Attractive operating margins Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 43%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%, CFO LTM is 4.5 Bil, FCF LTM is 4.0 Bil
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -51%
3	Stock buyback support Stock Buyback 3Y Total is 6.7 Bil
4	Megatrend and thematic drivers Megatrends include Artificial Intelligence, Automation & Robotics, Advanced Materials, and 5G & Advanced Connectivity. Show more.
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3%
6	Key risks KLAC key risks include [1] its substantial revenue from China being threatened by U.S. Show more.

KLAC in ETFs

Weight = KLAC's share of each fund

SPY0.29%

VOO0.39%

IVV0.29%

VTI0.35%

ITOT0.29%

QQQ0.86%

QQQM0.84%

IWB0.27%

+40 more covered ETFs

Valuation & Metrics

FYE: 6/30	Forward FYE		Now	Historical (CYE & TTM)
	2028	2027	11/1/26	2025	2024	2023
Share Price			$158.61	$121.51	$63.01	$58.13
Mkt Cap ($ Bil)			206.7	159.5	84.0	78.8
+ Debt ($ Bil)			6.0	6.1	6.1	6.1
- Cash ($ Bil)			4.7	5.2	3.8	3.3
TEV ($ Bil)			207.9	165.6	90.1	84.9
Valuation Ratios
P/S	9.1	11.0	14.3	12.5	7.7	8.1
P/EBIT	19.8	23.7	32.3	28.9	20.9	23.1
P/E	22.9	27.6	39.4	35.0	26.2	29.1
P/FCF	—	—	51.3	36.4	25.0	24.9
Sector Ratios (* = sector average)
P/S *			3.4	3.6	3.2	2.9
P/EBIT *			4.9	1.7	-0.0	-0.2
P/E *			-0.0	-0.3	-0.2	-0.4
P/FCF *			9.7	12.3	12.4	15.1

FYE: 6/30	Forward FYE		Now
	2028	2027	11/1/26
Share Price			$158.61
Mkt Cap ($ Bil)			206.7
+ Debt ($ Bil)			6.0
- Cash ($ Bil)			4.7
TEV ($ Bil)			207.9
Valuation Ratios
P/S	9.1	11.0	14.3
P/EBIT	19.8	23.7	32.3
P/E	22.9	27.6	39.4
P/FCF	—	—	51.3
Sector Ratios (* = sector average)
P/S *			3.4
P/EBIT *			4.9
P/E *			-0.0
P/FCF *			9.7

FYE: 6/30	KLAC [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$14.5 Bil	—
FY 2027 Sales	$18.9 Bil	—
FY 2028 Sales	$22.7 Bil	—
FY 2027 Sales Growth	30.0%	—
FY 2028 Sales Growth	20.1%	8.7%
EARNINGS
LTM Net Income (GAAP) [3]	$5.3 Bil	—
FY 2027 Net Income (Non-GAAP)	$7.5 Bil	—
FY 2028 Net Income (Non-GAAP)	$9.0 Bil	—
FY 2028 Net Income Growth	20.4%	12.8%
FY 2027 EPS (Non-GAAP)	$5.77	—
FY 2028 EPS (Non-GAAP)	$7.10	—
FY 2028 EPS Growth	23.1%	—
VALUATION
FY 2027 P/S	11.0	3.2
FY 2028 P/S	9.1	—
FY 2027 P/E	27.6	18.2
FY 2028 P/E	22.9	—

[1] KLAC forward figures are analyst consensus for the next two fiscal years (fiscal year end 6/30). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 10/31/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	KLAC	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	14.5
Rev Chg Q	28.9%	8.9%
Rev Chg LTM	15.8%	8.5%
Rev Chg 3Y Avg	12.9%	6.2%
PROFITABILITY	VERY GOOD
Op Inc LTM ($ Bil)	6.2
CFO LTM ($ Bil)	4.5
Net Inc LTM ($ Bil)	5.3
Op Mgn LTM	42.6%	18.7%
CFO/Rev LTM	31.1%	21.6%
Net Inc Mgn	36.2%	13.4%
VALUATION	VERY HIGH
P/S	14.3	3.2
P/CFO	45.9	15.2
P/FCF	51.3	20.1
P/E	39.4	22.6
STABILITY	VERY GOOD
Debt/Equity	0.03	0.19
Cash/Assets	0.26	0.07

AI Analysis | Feedback

Metric	Value	Date	Source
Semiconductor Process Control Market Share	over 60%	12312023	Link
Wafer Fabrication Equipment (WFE) Market Share	8.6%	12312024	Link
Active Patents Globally	8586	1012025	Link
Advanced Packaging Revenue Forecast (Calendar Year 2025)	over $925 million	7312025	Link
Customer Lead Times	7 to 9 months	10302025	Link

Price Chart

Upcoming
2/04/2027	Earnings Release	Rev: $4.0 Bil (E) EPS: $1.42 (E)

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/31/2026

KLA (KLAC) stock has lost about 15% since 7/31/2026 because of the following key factors:

1. Broader Semiconductor Sector Weakness: The iShares Semiconductor ETF (SOXX) experienced an 11.26% loss in the third quarter of calendar 2026, indicating a widespread downturn across the semiconductor industry. This general market sentiment likely contributed to downward pressure on KLA's stock, even amidst company-specific strengths.

2. Concerns Regarding Sustainability of AI-driven Demand: Despite KLA's reported strong performance and positive outlook driven by AI infrastructure investments, leading-edge foundry/logic, and advanced packaging, the broader market showed signs of skepticism regarding the long-term sustainability of AI infrastructure spending. Intel's third-quarter calendar 2026 results, which indicated weaker demand for client processors and projected a decline in the client PC market into calendar 2027, further fueled a cautious outlook for the overall chip industry.

3. Significant Insider Selling Activity: Multiple key executives at KLA, including President and CEO Richard P. Wallace, EVP & Chief Financial Officer Bren D. Higgins, President of Semiconductor Products and Customers Ahmad A. Khan, and EVP Brian Lorig, conducted substantial stock sales during August and September 2026. These transactions collectively exceeded $48 million, with individual sales such as Richard P. Wallace's approximately $17.42 million sale on August 11, 2026, and Brian Lorig's approximately $12.40 million sale on August 13, 2026, potentially signaling a lack of confidence to the market, even if executed under pre-planned trading programs.

4. Analyst Price Target Revisions Despite Strong Earnings: Even though KLA surpassed expectations for its fiscal Q1 2027 (ended September 30, 2026) with non-GAAP diluted EPS of $1.22 and revenues of $4.14 billion, and provided robust guidance for fiscal Q2 2027, several analyst firms including Wells Fargo, Needham, Evercore ISI, Susquehanna, Cantor Fitzgerald, and UBS lowered their price targets for KLAC. These revisions, despite positive company performance, suggest a re-evaluation of valuation models or a more conservative stance on the stock's future potential within the prevailing market conditions.

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Stock Movement Drivers

Fundamental Drivers

The -13.5% change in KLAC stock from 7/31/2026 to 10/31/2026 was primarily driven by a -23.4% change in the company's P/E Multiple.

(LTM values as of)	7312026	10312026	Change
Stock Price ($)	182.61	157.91	-13.5%
Change Contribution By:
Total Revenues ($ Mil)	13,097	14,506	10.8%
Net Income Margin (%)	35.7%	36.2%	1.6%
P/E Multiple	51.2	39.2	-23.4%
Shares Outstanding (Mil)	1,309	1,305	0.3%
Cumulative Contribution			-13.5%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 10/31/2026

	Return	Correlation
KLAC	-13.5%
Market (SPY)	1.2%	47.6%
Sector (XLK)	2.4%	69.3%

Fundamental Drivers

The -9.6% change in KLAC stock from 4/30/2026 to 10/31/2026 was primarily driven by a -19.9% change in the company's P/E Multiple.

(LTM values as of)	4302026	10312026	Change
Stock Price ($)	174.61	157.91	-9.6%
Change Contribution By:
Total Revenues ($ Mil)	13,097	14,506	10.8%
Net Income Margin (%)	35.7%	36.2%	1.6%
P/E Multiple	48.9	39.2	-19.9%
Shares Outstanding (Mil)	1,309	1,305	0.3%
Cumulative Contribution			-9.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 10/31/2026

	Return	Correlation
KLAC	-9.6%
Market (SPY)	5.4%	58.0%
Sector (XLK)	12.7%	75.8%

Fundamental Drivers

The 31.3% change in KLAC stock from 10/31/2025 to 10/31/2026 was primarily driven by a 15.8% change in the company's Total Revenues ($ Mil).

(LTM values as of)	10312025	10312026	Change
Stock Price ($)	120.23	157.91	31.3%
Change Contribution By:
Total Revenues ($ Mil)	12,524	14,506	15.8%
Net Income Margin (%)	33.8%	36.2%	7.2%
P/E Multiple	37.4	39.2	4.8%
Shares Outstanding (Mil)	1,318	1,305	0.9%
Cumulative Contribution			31.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 10/31/2026

	Return	Correlation
KLAC	31.3%
Market (SPY)	11.7%	58.5%
Sector (XLK)	19.9%	73.2%

Fundamental Drivers

The 244.3% change in KLAC stock from 10/31/2023 to 10/31/2026 was primarily driven by a 94.4% change in the company's P/E Multiple.

(LTM values as of)	10312023	10312026	Change
Stock Price ($)	45.86	157.91	244.3%
Change Contribution By:
Total Revenues ($ Mil)	10,169	14,506	42.7%
Net Income Margin (%)	30.5%	36.2%	18.8%
P/E Multiple	20.2	39.2	94.4%
Shares Outstanding (Mil)	1,364	1,305	4.5%
Cumulative Contribution			244.3%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 10/31/2026

	Return	Correlation
KLAC	244.3%
Market (SPY)	86.9%	63.5%
Sector (XLK)	122.8%	76.3%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
KLAC Return	68%	-11%	56%	9%	94%	30%	546%
Peers Return	66%	-39%	74%	-2%	51%	37%	256%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	106%
Monthly Win Rates [3]
KLAC Win Rate	75%	42%	67%	42%	58%	60%
Peers Win Rate	68%	33%	65%	48%	62%	62%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
KLAC Max Drawdown	-19%	-40%	-16%	-31%	-26%	-52%
Peers Max Drawdown	-21%	-53%	-24%	-37%	-44%	-50%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMAT, LRCX, ONTO, VECO, MKSI. See KLAC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)

Event	KLAC	S&P 500
2025 US Tariff Shock
% Loss	-25.4%	-18.8%
% Gain to Breakeven	34.1%	23.1%
Time to Breakeven	39 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-22.0%	-7.8%
% Gain to Breakeven	28.2%	8.5%
Time to Breakeven	318 days	18 days
2023 SVB Regional Banking Crisis
% Loss	-11.3%	-6.7%
% Gain to Breakeven	12.7%	7.1%
Time to Breakeven	19 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-38.9%	-24.5%
% Gain to Breakeven	63.7%	32.4%
Time to Breakeven	213 days	427 days
2020 COVID-19 Crash
% Loss	-33.8%	-33.7%
% Gain to Breakeven	51.0%	50.9%
Time to Breakeven	40 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-20.3%	-19.2%
% Gain to Breakeven	25.5%	23.8%
Time to Breakeven	37 days	105 days

Compare to AMAT, LRCX, ONTO, VECO, MKSI

In The Past

KLA's stock fell -25.4% during the 2025 US Tariff Shock. Such a loss loss requires a 34.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	KLAC	S&P 500
2025 US Tariff Shock
% Loss	-25.4%	-18.8%
% Gain to Breakeven	34.1%	23.1%
Time to Breakeven	39 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-22.0%	-7.8%
% Gain to Breakeven	28.2%	8.5%
Time to Breakeven	318 days	18 days
2022 Inflation Shock & Fed Tightening
% Loss	-38.9%	-24.5%
% Gain to Breakeven	63.7%	32.4%
Time to Breakeven	213 days	427 days
2020 COVID-19 Crash
% Loss	-33.8%	-33.7%
% Gain to Breakeven	51.0%	50.9%
Time to Breakeven	40 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-20.3%	-19.2%
% Gain to Breakeven	25.5%	23.8%
Time to Breakeven	37 days	105 days
2014-2016 Oil Price Collapse
% Loss	-22.1%	-6.8%
% Gain to Breakeven	28.4%	7.3%
Time to Breakeven	57 days	15 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-22.9%	-17.9%
% Gain to Breakeven	29.7%	21.8%
Time to Breakeven	54 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-21.2%	-15.4%
% Gain to Breakeven	26.9%	18.2%
Time to Breakeven	89 days	125 days
2008-2009 Global Financial Crisis
% Loss	-68.8%	-53.4%
% Gain to Breakeven	220.8%	114.4%
Time to Breakeven	810 days	1085 days

Compare to AMAT, LRCX, ONTO, VECO, MKSI

In The Past

KLA's stock fell -25.4% during the 2025 US Tariff Shock. Such a loss loss requires a 34.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About KLA (KLAC)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

KLA Corporation (KLAC) is a leading technology provider for the global semiconductor and related nanoelectronics industries. The company specializes in designing, manufacturing, and marketing advanced process control and yield management solutions. Essentially, KLA's sophisticated tools and software enable chip manufacturers to detect, analyze, and manage defects and inefficiencies throughout the intricate semiconductor fabrication process, thereby improving chip quality and maximizing production yield.

KLA's extensive product portfolio addresses various critical stages of manufacturing. For chip and wafer production, they provide essential defect inspection and review systems, precise metrology solutions, in-situ process monitoring, computational lithography software, and data analytics systems. Beyond core chip manufacturing, KLA also offers solutions for reticle (mask) manufacturing and advanced packaging processes, including wafer inspection, die sorting, and integrated circuit component inspection. Their primary customers include semiconductor chip manufacturers, mask shops, and companies operating in emerging sectors such as compound semiconductors, power devices, LEDs, and data storage.

AI Analysis | Feedback

KLA is like the ASML of quality control and yield management for the semiconductor industry, providing the essential inspection and metrology tools that ensure chips are made perfectly.

KLA is like GE Healthcare for semiconductor factories, but instead of diagnosing human health, they provide the advanced diagnostic and inspection systems that ensure the quality and efficiency of chip manufacturing.

KLA is like Palantir for chip factories, but instead of analyzing intelligence data for governments, they analyze manufacturing data to find defects, optimize processes, and improve the yield of complex semiconductors.

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Defect Inspection and Review Systems: Systems designed to identify and analyze defects on semiconductor wafers and chips.
Metrology Solutions: Tools providing precise measurements of critical dimensions and features during semiconductor manufacturing.
In Situ Process Monitoring Products: Systems that offer real-time monitoring of manufacturing processes within the production environment.
Computational Lithography Software: Software used to optimize the lithography process for creating patterns on wafers.
Data Analytics Systems: Solutions that process and analyze manufacturing data to enhance yield and process control across semiconductor fabrication.
Wafer Processing Systems: Equipment utilized for various stages of semiconductor wafer fabrication, including advanced packaging.
Die Sorting and Inspection Systems: Solutions for inspecting and accurately sorting individual semiconductor dies.
IC Component Inspection and Metrology Systems: Systems for inspecting and measuring integrated circuit components at various stages.
Reticle Inspection Systems: Specialized systems for inspecting photomasks, known as reticles, used in semiconductor lithography.
Support and Other Services: Comprehensive services including installation, maintenance, training, and technical support for their product lines.

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Major Customers of KLA Corporation (KLAC)

KLA Corporation primarily sells its process control and yield management solutions to other companies within the semiconductor and related nanoelectronics industries, rather than to individuals. While KLA does not publicly disclose the names of individual major customers due to the competitive nature of the industry and the fact that no single customer accounts for more than 10% of its total revenues, its customer base consists of leading companies across key segments of the semiconductor supply chain. The major categories of companies that purchase KLA's products and services include:

Integrated Device Manufacturers (IDMs): These are companies that design, manufacture, and sell their own integrated circuits.
- Examples: Intel Corporation (NASDAQ: INTC), Micron Technology, Inc. (NASDAQ: MU), Texas Instruments Incorporated (NASDAQ: TXN)
Foundries: Companies that specialize in manufacturing integrated circuits for other fabless semiconductor companies.
- Examples: Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM), GlobalFoundries Inc. (NASDAQ: GFS), United Microelectronics Corporation (NYSE: UMC)
Outsourced Semiconductor Assembly and Test (OSAT) Companies: Firms that provide packaging and testing services for semiconductors manufactured by other companies.
- Examples: ASE Technology Holding Co., Ltd. (NYSE: ASX), Amkor Technology, Inc. (NASDAQ: AMKR)
Mask Shops: Companies that produce photomasks, which are critical components used in the photolithography process for manufacturing integrated circuits. These are often divisions of major foundries/IDMs or specialized independent entities.
Manufacturers in Related Nanoelectronics Industries: This broader category includes companies involved in the production of compound semiconductors, power devices, light-emitting diodes (LEDs), microelectromechanical systems (MEMS), data storage media/heads, and other advanced electronic components.

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Rick Wallace, President and Chief Executive Officer

Rick Wallace joined KLA Instruments in 1988 as an applications engineer and has held various general management positions throughout his tenure, becoming CEO in 2006. His prior experience includes positions at Procter & Gamble and Cypress Semiconductor. Mr. Wallace has served on the Board of Directors for companies such as Marvell Technology, Splunk, Proofpoint, NetApp, SEMI, and Beckman Coulter. He once led the initiative to start a new business within KLA.

Bren Higgins, Executive Vice President and Chief Financial Officer

Bren Higgins joined KLA in 1999 and has held numerous roles within the company, including multiple division controller assignments, group controller for KLA's largest business group, senior director of financial planning and analysis, and Vice President of corporate finance. He is responsible for KLA's worldwide finance and accounting, global manufacturing, logistics and supply chain operations, business development (including mergers and acquisitions), workplace services, IT, and investor relations.

Ahmad Khan, President, Semiconductor Products and Customers

Ahmad Khan joined KLA in 2004 (or 2003) in business development and has since moved into management roles for multiple product divisions. This includes serving as general manager of the Optical Films Metrology division and Group Vice President for the Patterning Division. Before joining KLA, Mr. Khan spent nine years at Applied Materials in various project engineering and management positions.

Ben Tsai, Chief Technical Officer and Executive Vice President, Corporate Alliances

Ben Tsai has over 35 years of experience at KLA, having held a wide range of technology and leadership roles, including Vice President and general manager of the wafer inspection division. He was named Chief Technology Officer in 1994. Prior to his current role, he served as Senior Vice President of technology at Tokyo Electron Limited. Mr. Tsai holds approximately 50 patents in inspection and metrology.

John Van Camp, Executive Vice President and Chief Human Resources Officer

Before joining KLA, John Van Camp held a variety of leadership positions in human resources. His previous roles include manager at General Electric and Vice President of Human Resources at Gap Inc.

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The key risks to KLA Corporation (KLAC) are:

Geopolitical Risks and Export Controls

KLA Corporation faces significant geopolitical risks, particularly from evolving U.S. government export controls and trade tensions. These include regulations from the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce, which can disrupt KLA's business and limit its access to certain markets, especially China. Trade disputes, tariffs, and potential retaliatory tariffs from other countries could increase production costs, disrupt supply chains, and negatively impact demand for KLA's products, leading to order cancellations and financial losses.
Supply Chain Disruptions and Dependence on Limited Suppliers

The company is vulnerable to supply chain disruptions, including shortages of raw materials or components. KLA has faced challenges in managing its supply chain, and for certain critical parts, it relies on a single supplier or a limited group of suppliers. Such dependencies can lead to delays in product delivery, impact customer satisfaction, and disrupt KLA's production processes, affecting revenues.
Intense Competition and Cyclicality of the Semiconductor Industry

The semiconductor equipment market is highly competitive, with several well-established players. This intense competition can exert pressure on KLA's market share and profit margins. Additionally, the semiconductor industry is cyclical, meaning that fluctuations in capital spending on semiconductor equipment can introduce uncertainty and variability in demand for KLA's products and services.

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KLA Corporation (KLAC) operates in several significant addressable markets related to semiconductor manufacturing process control and yield management.

Semiconductor Process Control Equipment Market

The global market for semiconductor process control equipment, a primary area for KLA, was valued at approximately USD 10.34 billion in 2024 and is projected to grow to USD 16.60 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 6.10%. Other estimates for this market include USD 7.58 billion in 2024, projected to reach USD 13.05 billion by 2032 with a CAGR of 7.03%, and USD 8.57 billion in 2025, expected to reach USD 12.93 billion by 2032 with a CAGR of 6.05%. In the U.S. specifically, the semiconductor process control equipment market was valued at USD 1.32 billion in 2024 and is projected to reach USD 2.30 billion by 2032, with a CAGR of 7.21%. KLA holds a leading market share of around 56% in process control.

Semiconductor Metrology and Inspection Equipment Market

This market, which includes defect inspection and review systems and metrology solutions crucial to KLA's offerings, had a global market size estimated between USD 8.98 billion and USD 9.8 billion in 2024, with projections to grow to between USD 16.21 billion by 2033 and USD 18.7 billion by 2034 at a CAGR of 6.9%. In 2025, the global market size is estimated between USD 13.03 billion and USD 14.92 billion, with projections to reach between USD 16.95 billion by 2030 and USD 27.56 billion by 2034. The U.S. market for semiconductor metrology and inspection was valued at over USD 2.6 billion in 2024.

Wafer Inspection Equipment Market

For wafer inspection equipment, a core product area for KLA, the global market size was estimated at USD 5.72 billion in 2024, is estimated to reach USD 6.23 billion in 2025, and is expected to grow to USD 9.22 billion by 2030, at a CAGR of 8.15% during the forecast period (2025-2030). Another source estimates the global market at USD 4.9 billion in 2025, projected to reach USD 13.3 billion by 2035 with a CAGR of 10.6%.

Semiconductor Defect Inspection Equipment Market

The global semiconductor defect inspection equipment market was valued at USD 6.14 billion in 2025 and is projected to grow from USD 6.59 billion in 2026 to USD 13.41 billion by 2034, exhibiting a CAGR of 9.03%.

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Expected Drivers of Future Revenue Growth for KLA Corporation (KLAC)

Demand for AI Infrastructure: KLA Corporation is significantly benefiting from the increasing demand for artificial intelligence (AI) infrastructure across all major wafer fabrication equipment (WFE) growth markets. The company's management and analysts consistently highlight AI as a primary driver of outsized growth in the semiconductor industry, directly impacting KLA's revenue.
Growth in Advanced Packaging: Advanced packaging solutions represent a substantial and rapidly growing revenue stream for KLA. The company has reported significant year-over-year growth in advanced packaging revenue for 2024 and 2025, with projections indicating continued strong momentum in the mid-to-high teens for 2026. This growth is driven by the increasing complexity of semiconductor designs and customer interest in applying front-end capabilities to packaging.
Increasing Process Control Intensity for Advanced Logic and Smaller Nodes: As semiconductor manufacturing progresses to more advanced nodes, such as 2nm and beyond, the "process control intensity" required per wafer increases significantly. KLA's leadership in process control, inspection, and metrology solutions positions it to capitalize on this trend, as these technologies become even more critical for managing yield in complex chip fabrication processes for advanced logic and high-bandwidth memory (HBM).
Consistent Growth of the Services Business: KLA's services business has demonstrated a track record of continuous year-over-year growth, contributing a predictable and recurring revenue stream. This segment provides ongoing maintenance, optimization, and support for KLA's extensive installed base of equipment, further enhancing customer success and securing revenue independent of the cyclical nature of equipment sales.

AI Analysis | Feedback

Share Repurchases

KLA's Board of Directors approved a new $7 billion share repurchase program in March 2026, adding to an existing $5 billion program announced in April 2025 which had $3.94 billion remaining as of December 31, 2025.
The company's annual share repurchases amounted to $2.15 billion in 2025, $1.736 billion in 2024, and $1.312 billion in 2023.
In the first quarter of fiscal 2026 (ending in September 2025), KLA repurchased $545 million worth of shares.

Capital Expenditures

KLA Corporation is characterized by an "extremely asset-light" business model, with capital expenditures typically around 3% of revenue, which is noted as the lowest in the semiconductor equipment industry.
The company's capital expenditures for fiscal year 2025 were $100.4 million.
KLA outsources most of its hardware manufacturing, focusing its capital on optical system design, software development, and system integration.

Interactive Breakdown

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Better Bets vs. KLA (KLAC)

INDUSTRY: Semiconductor Materials & Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for KLAC: 12.9% | 14.2x)

LRCX (19.2% | 11.4x)

Lam Research

TER (26.4% | 8.6x)

Teradyne

ACMR (31.8% | 3.0x)

ACM Research

AMBA (17.9% | 6.6x)

Ambarella

PDFS (14.4% | 7.0x)

PDF Solutions

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KLAC: 12.9% | 33.3x)

LRCX (19.2% | 31.0x)

Lam Research

TER (26.4% | 26.3x)

Teradyne

ACMR (31.8% | 22.4x)

ACM Research

Higher Rev Chg LTM (Value for KLAC: 15.8%)

TER (74.9%)

Teradyne

LRCX (33.4%)

Lam Research

AEIS (24.6%)

Advanced Energy Industries

FORM (18.0%)

FormFactor

MKSI (16.3%)

MKS

Higher Rev Chg 3Y Avg (Value for KLAC: 12.9%)

ACMR (31.8%)

ACM Research

TER (26.4%)

Teradyne

LRCX (19.2%)

Lam Research

AMBA (17.9%)

Ambarella

PDFS (14.4%)

PDF Solutions

Higher Total Yield (Value for KLAC: 3.1%)

KLIC (4.1%)

Kulicke & Soffa Industries

MKSI (3.7%)

MKS

AMAT (3.5%)

Applied Materials

TER (3.4%)

Teradyne

LRCX (3.3%)

Lam Research

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for KLAC: 12.9% | 14.2x)

MSFT (16.6% | 11.2x)

Microsoft

MU (122.3% | 7.5x)

Micron Technology

LRCX (19.2% | 11.4x)

Lam Research

DELL (19.2% | 1.8x)

Dell Technologies

APH (39.7% | 5.9x)

Amphenol

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KLAC: 12.9% | 33.3x)

NVDA (116.5% | 25.1x)

NVIDIA

MSFT (16.6% | 23.7x)

Microsoft

MU (122.3% | 10.1x)

Micron Technology

LRCX (19.2% | 31.0x)

Lam Research

DELL (19.2% | 18.8x)

Dell Technologies

Higher Rev Chg LTM (Value for KLAC: 15.8%)

MU (256.3%)

Micron Technology

NVDA (83.4%)

NVIDIA

AVGO (48.7%)

Broadcom

AMD (39.5%)

Advanced Micro Devices

MSFT (17.9%)

Microsoft

Higher Rev Chg 3Y Avg (Value for KLAC: 12.9%)

MU (122.3%)

Micron Technology

NVDA (116.5%)

NVIDIA

AVGO (36.2%)

Broadcom

AMD (24.4%)

Advanced Micro Devices

MSFT (16.6%)

Microsoft

Higher Op Mgn LTM (Value for KLAC: 42.6%)

MU (74.6%)

Micron Technology

NVDA (65.2%)

NVIDIA

AVGO (48.5%)

Broadcom

MSFT (47.1%)

Microsoft

PLTR (42.8%)

Palantir Technologies

Higher CFO/Rev LTM (Value for KLAC: 31.1%)

MU (67.3%)

Micron Technology

MSFT (56.5%)

Microsoft

AVGO (45.6%)

Broadcom

NVDA (44.3%)

NVIDIA

AAPL (31.4%)

Apple

Higher FCF/Rev LTM (Value for KLAC: 27.8%)

PLTR (54.6%)

Palantir Technologies

MU (44.3%)

Micron Technology

AVGO (44.2%)

Broadcom

NVDA (41.9%)

NVIDIA

AAPL (29.3%)

Apple

Higher Total Yield (Value for KLAC: 3.1%)

MU (8.6%)

Micron Technology

CSCO (4.8%)

Cisco Systems

MSFT (4.4%)

Microsoft

NVDA (4.0%)

NVIDIA

AVGO (3.2%)

Broadcom

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for KLAC: 12.9% | 14.2x)

GOOGL (16.7% | 7.3x)

Alphabet

META (24.0% | 6.5x)

Meta Platforms

GE (40.1% | 5.9x)

GE Aerospace

MS (13.5% | 3.9x)

Morgan Stanley

GS (13.2% | 4.1x)

Goldman Sachs

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KLAC: 12.9% | 33.3x)

GOOGL (16.7% | 21.8x)

Alphabet

META (24.0% | 19.8x)

Meta Platforms

LLY (39.4% | 28.5x)

Eli Lilly

MA (14.2% | 25.6x)

Mastercard

GE (40.1% | 32.6x)

GE Aerospace

Higher Rev Chg LTM (Value for KLAC: 15.8%)

LLY (45.5%)

Eli Lilly

META (27.5%)

Meta Platforms

GOOGL (22.2%)

Alphabet

GE (19.6%)

GE Aerospace

CAT (18.4%)

Caterpillar

Higher Rev Chg 3Y Avg (Value for KLAC: 12.9%)

GE (40.1%)

GE Aerospace

LLY (39.4%)

Eli Lilly

META (24.0%)

Meta Platforms

GOOGL (16.7%)

Alphabet

MA (14.2%)

Mastercard

Higher Op Mgn LTM (Value for KLAC: 42.6%)

V (65.6%)

Visa

MA (60.1%)

Mastercard

SCCO (58.6%)

Southern Copper

LLY (51.3%)

Eli Lilly

MCD (45.7%)

McDonald's

Higher CFO/Rev LTM (Value for KLAC: 31.1%)

META (55.1%)

Meta Platforms

V (50.8%)

Visa

SPCX (49.2%)

Space Exploration Technologies

GOOGL (38.1%)

Alphabet

LLY (35.4%)

Eli Lilly

Higher FCF/Rev LTM (Value for KLAC: 27.8%)

V (47.2%)

Visa

MA (42.5%)

Mastercard

BAC (34.4%)

Bank of America

ABBV (28.3%)

AbbVie

KO (28.0%)

Coca-Cola

Higher Total Yield (Value for KLAC: 3.1%)

JPM (9.1%)

JPMorgan Chase

BRK-B (7.3%)

Berkshire Hathaway

GOOGL (7.2%)

Alphabet

AMZN (5.2%)

Amazon.com

META (5.1%)

Meta Platforms

Best Bets in Information Technology

What You Pay

P/EBIT (Value for KLAC: 32.2x)

VRSN (23.3x)

VeriSign

ANET (46.8x)

Arista Networks

NVDA (21.5x)

NVIDIA

YOU (18.4x)

Clear Secure

ADEA (11.7x)

Adeia

GEN (7.9x)

Gen Digital

ZM (23.6x)

Zoom Communications

ADBE (10.4x)

Adobe

FICO (12.9x)

Fair Isaac

PTC (14.1x)

PTC

P/E (Value for KLAC: 39.2x)

VRSN (32.6x)

VeriSign

ANET (52.6x)

Arista Networks

NVDA (25.7x)

NVIDIA

YOU (31.4x)

Clear Secure

ADEA (19.3x)

Adeia

GEN (14.4x)

Gen Digital

ZM (8.6x)

Zoom Communications

ADBE (13.6x)

Adobe

FICO (19.8x)

Fair Isaac

PTC (18.3x)

PTC

What You Get

Rev Chg 3Y Avg (Value for KLAC: 12.9%)

VRSN (5.3%)

VeriSign

ANET (26.2%)

Arista Networks

NVDA (116.5%)

NVIDIA

YOU (24.0%)

Clear Secure

ADEA (7.0%)

Adeia

GEN (11.9%)

Gen Digital

ZM (3.8%)

Zoom Communications

ADBE (11.2%)

Adobe

FICO (17.7%)

Fair Isaac

PTC (12.9%)

PTC

Rev Chg LTM (Value for KLAC: 15.8%)

VRSN (6.5%)

VeriSign

ANET (32.6%)

Arista Networks

NVDA (83.4%)

NVIDIA

YOU (19.8%)

Clear Secure

ADEA (24.3%)

Adeia

GEN (16.9%)

Gen Digital

ZM (5.0%)

Zoom Communications

ADBE (12.0%)

Adobe

FICO (24.1%)

Fair Isaac

PTC (19.5%)

PTC

Rev Chg Q (Value for KLAC: 28.9%)

VRSN (5.7%)

VeriSign

ANET (37.7%)

Arista Networks

NVDA (105.9%)

NVIDIA

YOU (26.6%)

Clear Secure

ADEA (12.1%)

Adeia

GEN (12.2%)

Gen Digital

ZM (4.9%)

Zoom Communications

ADBE (12.9%)

Adobe

FICO (25.7%)

Fair Isaac

PTC (-6.8%)

PTC

FCF/Rev 3Y Avg (Value for KLAC: 29.8%)

VRSN (58.7%)

VeriSign

ANET (47.2%)

Arista Networks

NVDA (44.7%)

NVIDIA

YOU (41.9%)

Clear Secure

ADEA (41.1%)

Adeia

GEN (39.3%)

Gen Digital

ZM (38.3%)

Zoom Communications

ADBE (37.8%)

Adobe

FICO (37.4%)

Fair Isaac

PTC (32.3%)

PTC

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Peer Outperformance in Semiconductor Materials & Equipment

KLAC has outperformed 93% of its 27 Semiconductor Materials & Equipment peers over 5Y. Among the peers that beat it is AXTI. Semiconductor Materials & Equipment ranks 3rd of 12 industries in Information Technology by median 5Y return. That makes it one of the strongest corners of the sector.

Share of Semiconductor Materials & Equipment constituents that KLAC has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.

36%

of 28 industry peers · 31.3% return

93%

of 28 industry peers · 239.4% return

93%

of 27 industry peers · 344.7% return

Semiconductor Materials & Equipment peers with revenue growth within 4pp of KLAC's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.

Ticker	Name	Rev Growth 3Y Avg	P/E	1Y	3Y	5Y	5Y Gap
KLAC	KLA	12.9%	39.2x	31.3%	239.4%	344.7%	—
AXTI	AXT	10.5%	831.6x	592.6%	2752.8%	573.9%	+229pp

Price returns, excluding dividends. P/E shown for context only and not used for matching.

Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductor Materials & Equipment is KLAC's own industry. Use this to see which corners of the sector have carried the returns.

Industry	Names	1Y med	3Y med	5Y med	Top 3 by 5Y
Electronic Manufacturing Services	10	23.5%	116.3%	232.6%	FLEX 597% · TTMI 526% · JBL 362%
Technology Distributors	9	46.6%	83.2%	82.4%	AVT 162% · SNX 140% · CNXN 100%
Semiconductor Materials & Equipment ←	28	41.2%	75.7%	59.3%	AXTI 574% · LRCX 346% · KLAC 345%
Communications Equipment	36	2.6%	86.8%	51.0%	LITE 918% · AAOI 803% · ANET 559%
Electronic Components	26	0.4%	67.9%	46.8%	CLS 2604% · BELFA 1204% · APH 332%
Semiconductors	55	1.3%	55.8%	16.4%	MU 1211% · NVDA 704% · AVGO 570%
Technology Hardware, Storage & Peripherals	21	3.7%	100.8%	2.6%	WDC 841% · SMCI 831% · DELL 744%
Electronic Equipment & Instruments	27	-6.9%	33.7%	-1.1%	PI 158% · OSIS 114% · MIR 73%
Internet Services & Infrastructure	6	5.8%	60.2%	-10.1%	GDDY 69% · VRSN 40% · DOCN -8%
IT Consulting & Other Services	30	-26.7%	2.5%	-24.6%	CHRN 378321% · APLD 280% · IBM 160%
Application Software	126	-17.2%	-2.8%	-49.0%	PLTR 611% · FROG 189% · AGYS 143%
Systems Software	69	-10.0%	25.5%	-51.8%	ZETA 277% · CRWD 255% · CVLT 169%

Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Want KLAC Stock 50% Cheaper? Get Paid 8.5% A Year While You Wait	09/22/2026
2	Want KLAC Stock 40% Cheaper? Get Paid 15% A Year While You Wait	08/18/2026
3	Own KLAC Stock? Here Is How To Collect 21% A Year On It	08/15/2026
4	Want KLAC Stock 40% Cheaper? Get Paid 21% While You Wait	07/15/2026
5	KLA Stock Is Making A Very Loud Promise	07/07/2026
6	KLAC Stock: The Math Hidden In Its Price	06/30/2026
7	KLA Stock's Look Into The Future	06/04/2026
8	Earn 16% Today or Buy KLAC 30% Cheaper - It's a Win-Win	06/02/2026
9	KLA Earnings Notes	04/28/2026
10	ARTICLES
11	Does Beating The Market Prove KLA Is A Great Company?	10/26/2026
12	How Much Could You Lose In KLA Stock?	10/21/2026
13	How Do You Invest For A Crash And A Rally?	10/20/2026
14	The Reason To Buy KLA Stock Today	10/19/2026
15	A 10-Day Losing Streak Has KLA Stock Down 20%	10/17/2026

	Title
0	DASHBOARDS
1	Want KLAC Stock 50% Cheaper? Get Paid 8.5% A Year While You Wait
2	Want KLAC Stock 40% Cheaper? Get Paid 15% A Year While You Wait
3	Own KLAC Stock? Here Is How To Collect 21% A Year On It
4	Want KLAC Stock 40% Cheaper? Get Paid 21% While You Wait
5	KLA Stock Is Making A Very Loud Promise
6	KLAC Stock: The Math Hidden In Its Price
7	KLA Stock's Look Into The Future
8	Earn 16% Today or Buy KLAC 30% Cheaper - It's a Win-Win
9	KLA Earnings Notes
10	ARTICLES
11	Does Beating The Market Prove KLA Is A Great Company?
12	How Much Could You Lose In KLA Stock?
13	How Do You Invest For A Crash And A Rally?
14	The Reason To Buy KLA Stock Today
15	A 10-Day Losing Streak Has KLA Stock Down 20%

Trade Ideas

Select ideas related to KLAC.

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Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
GDYN	Grid Dynamics	1.1	40.8%	48.0%
FMC	FMC	0.8	30.5%	-54.4%
OSPN	OneSpan	1.0	27.3%	106.1%
CDNA	CareDx	4.5	22.2%	364.0%
CPRI	Capri	2.2	16.3%	-23.4%
MEOH	Methanex	5.5	14.0%	82.0%
REGN	Regeneron Pharmaceuticals	95.4	13.3%	20.7%
CVCO	Cavco Industries	4.8	13.1%	4.8%
GPN	Global Payments	26.1	13.0%	26.4%
BTSG	BrightSpring Health Services	13.8	11.1%	78.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ARI	Apollo Commercial Real Estate Finance	0.3	-64.5%	-75.9%
ATEC	Alphatec	1.1	-38.1%	-66.5%
RDDT	Reddit	17.6	-29.2%	-60.1%
ABR	Arbor Realty Trust	0.4	-29.1%	-69.6%
GYRE	Gyre Therapeutics	0.5	-28.9%	-35.5%
INTC	Intel	335.6	-28.6%	78.2%
COUR	Coursera	0.8	-25.5%	-52.9%
CRMD	Cormedix	0.4	-25.5%	-51.0%
XMAX	XMax	0.4	-20.7%	-20.2%
OPY	Oppenheimer	0.9	-20.1%	19.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
GDYN	Grid Dynamics	1.1	54.5%	48.0%
REPL	Replimune	1.7	53.7%	81.2%
SGRY	Surgery Partners	3.0	47.4%	50.2%
ADT	ADT	7.5	42.9%	25.2%
TDOC	Teladoc Health	1.5	34.2%	21.6%
GKOS	Glaukos	14.0	32.8%	110.4%
ULCC	Frontier	1.5	30.6%	36.9%
AXGN	Axogen	2.6	29.7%	50.8%
HRI	Herc	5.5	29.4%	13.4%
PRME	Prime Medicine	0.8	28.6%	36.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
ARI	Apollo Commercial Real Estate Finance	0.3	-63.7%	-75.9%
BCAX	Bicara Therapeutics	0.6	-46.5%	-45.8%
IOVA	Iovance Biotherapeutics	3.8	-39.8%	210.6%
ATEC	Alphatec	1.1	-36.6%	-66.5%
RDDT	Reddit	17.6	-36.4%	-60.1%
BXBL	BOXABL	5.9	-34.3%	-79.9%
COUR	Coursera	0.8	-31.7%	-52.9%
ORIC	ORIC Pharmaceuticals	1.0	-29.8%	13.0%
AVBP	ArriVent BioPharma	0.7	-29.2%	-26.1%
CMPR	Cimpress	1.4	-29.1%	-14.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
BRZE	Braze	5.1	78.4%	33.4%
SGRY	Surgery Partners	3.0	75.4%	50.2%
LQDA	Liquidia	4.0	61.0%	30.6%
GDYN	Grid Dynamics	1.1	59.4%	48.0%
ADT	ADT	7.5	58.3%	25.2%
PRME	Prime Medicine	0.8	57.9%	36.0%
MAX	MediaAlpha	0.8	52.4%	13.9%
FIGS	FIGS	3.5	51.3%	87.6%
TDOC	Teladoc Health	1.5	50.1%	21.6%
DGICB	Donegal	-	48.2%	45.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ARI	Apollo Commercial Real Estate Finance	0.3	-62.9%	-75.9%
GLAS	Glass House Brands	0.2	-59.0%	-75.4%
NUAI	New Era Energy & Digital	0.3	-57.1%	-6.7%
BRUN	Boost Run	0.4	-55.2%	-66.0%
SHAZ	SharonAI	0.4	-54.5%	-75.5%
CIFR	Cipher Digital	3.0	-52.8%	-50.6%
AVTX	Avalo Therapeutics	0.3	-52.0%	-60.5%
BCAX	Bicara Therapeutics	0.6	-49.8%	-45.8%
AVBP	ArriVent BioPharma	0.7	-48.6%	-26.1%
BLZE	Backblaze	0.5	-46.5%	62.9%

Peer Comparisons

Peers to compare with:

Financials

	KLAC	AMAT	LRCX	ONTO	VECO	MKSI	Median
Name	KLA	Applied .	Lam Rese.	Onto Inn.	Veeco In.	MKS
Mkt Price	158.61	391.71	240.41	205.00	39.33	202.89	203.94
Mkt Cap	207.0	311.0	300.7	10.1	2.4	13.7	110.4
Rev LTM	14,506	30,837	26,128	1,120	655	4,347	9,426
Op Inc LTM	6,185	9,587	9,654	155	30	726	3,456
FCF LTM	4,038	5,623	6,537	252	43	455	2,246
FCF 3Y Avg	3,688	6,004	5,642	225	43	471	2,080
CFO LTM	4,512	8,396	7,576	266	57	635	2,574
CFO 3Y Avg	4,060	7,919	6,410	251	63	603	2,332

Growth & Margins

	KLAC	AMAT	LRCX	ONTO	VECO	MKSI	Median
Name	KLA	Applied .	Lam Rese.	Onto Inn.	Veeco In.	MKS
Rev Chg LTM	15.8%	7.8%	33.4%	8.1%	-7.7%	16.3%	12.0%
Rev Chg 3Y Avg	12.9%	5.2%	19.2%	7.9%	0.8%	4.7%	6.5%
Rev Chg Q	28.9%	24.8%	54.4%	35.3%	-5.4%	28.3%	28.6%
QoQ Delta Rev Chg LTM	6.8%	6.2%	12.5%	8.7%	-1.3%	6.8%	6.8%
Op Inc Chg LTM	18.2%	11.2%	49.3%	-25.1%	-65.8%	33.9%	14.7%
Op Inc Chg 3Y Avg	18.6%	7.8%	30.6%	-1.3%	-2.1%	15.5%	11.6%
Op Mgn LTM	42.6%	31.1%	37.0%	13.8%	4.6%	16.7%	23.9%
Op Mgn 3Y Avg	40.7%	30.1%	33.0%	17.1%	9.6%	14.8%	23.6%
QoQ Delta Op Mgn LTM	1.0%	1.0%	1.7%	1.6%	-2.2%	1.7%	1.3%
CFO/Rev LTM	31.1%	27.2%	29.0%	23.8%	8.8%	14.6%	25.5%
CFO/Rev 3Y Avg	32.8%	27.6%	31.8%	24.6%	9.2%	15.6%	26.1%
FCF/Rev LTM	27.8%	18.2%	25.0%	22.5%	6.5%	10.5%	20.4%
FCF/Rev 3Y Avg	29.8%	21.0%	28.1%	22.0%	6.3%	12.2%	21.5%

Valuation

	KLAC	AMAT	LRCX	ONTO	VECO	MKSI	Median
Name	KLA	Applied .	Lam Rese.	Onto Inn.	Veeco In.	MKS
Mkt Cap	207.0	311.0	300.7	10.1	2.4	13.7	110.4
P/S	14.3	10.1	11.5	9.0	3.6	3.2	9.6
P/Op Inc	33.5	32.4	31.1	65.5	79.7	18.9	33.0
P/EBIT	32.3	28.0	30.5	65.5	75.1	20.1	31.4
P/E	39.4	33.6	35.6	76.4	102.8	31.2	37.5
P/CFO	45.9	37.0	39.7	38.0	41.4	21.6	38.9
Total Yield	3.1%	3.5%	3.3%	1.3%	1.0%	3.7%	3.2%
Dividend Yield	0.5%	0.5%	0.4%	0.0%	0.0%	0.5%	0.4%
FCF Yield 3Y Avg	2.4%	3.0%	3.1%	2.6%	2.3%	4.8%	2.8%
D/E	0.0	0.0	0.0	0.1	0.1	0.3	0.1
Net D/E	0.0	-0.0	-0.0	-0.0	-0.1	0.3	-0.0

Returns

	KLAC	AMAT	LRCX	ONTO	VECO	MKSI	Median
Name	KLA	Applied .	Lam Rese.	Onto Inn.	Veeco In.	MKS
1M Rtn	-20.8%	-26.0%	-29.3%	-34.9%	-26.1%	-25.2%	-26.0%
3M Rtn	-13.1%	-22.8%	-17.9%	-20.7%	-21.3%	-31.7%	-21.0%
6M Rtn	-7.9%	0.9%	-6.2%	-30.0%	-21.7%	-27.3%	-14.8%
12M Rtn	31.9%	69.0%	53.4%	51.9%	36.8%	41.8%	46.8%
3Y Rtn	240.9%	196.4%	306.3%	80.7%	61.7%	214.9%	205.7%
1M Excs Rtn	-21.8%	-27.0%	-30.3%	-35.9%	-27.1%	-26.2%	-27.0%
3M Excs Rtn	-15.0%	-26.2%	-20.2%	-25.6%	-24.7%	-36.4%	-25.2%
6M Excs Rtn	-15.0%	-6.2%	-13.3%	-37.2%	-28.9%	-34.4%	-22.0%
12M Excs Rtn	16.7%	54.6%	37.9%	37.0%	21.6%	31.7%	34.3%
3Y Excs Rtn	171.8%	122.9%	237.1%	-2.0%	-26.7%	114.4%	118.6%

Comparison Analyses

	Title
0	KLA Tencor vs. Applied Materials: With Return Forecast Of 16%, Applied Materials Is A Better Bet
1	KLA Tencor vs. Zoetis: With Return Forecast Of 18%, Zoetis Is A Better Bet
2	KLA Tencor vs. Waste Management: With Return Forecast Of 18%, KLA Tencor Is A Better Bet
3	KLA Tencor vs. Stryker: Both Seem Similar Bets
4	KLA Tencor vs. Altria Group: With Return Forecast Of 24%, KLA Tencor Is A Better Bet
5	KLA Tencor vs. Advanced Micro Devices: With Return Forecast Of 56%, Advanced Micro Devices Is A Better Bet
6	KLA Tencor vs. Vertex Pharmaceuticals: Similar Revenue, But Vertex Pharmaceuticals Is A Better Bet
7	KLA Tencor vs. Activision Blizzard: Similar Revenue, But KLA Tencor Is A Better Bet
8	KLA Tencor vs. Zoetis: Similar Revenue, But KLA Tencor Is A Better Bet
9	KLA Tencor vs. Eaton: Similar Market Cap, But Eaton Is A Better Bet

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Clinical Pipeline

null

Financials

Annual
Quarterly

$ Mil \| FY: 6/30	LTM	2026	2025	2024	2023	2022	2021
Period End	9/30/2026	6/30/2026	6/30/2025	6/30/2024	6/30/2023	6/30/2022	6/30/2021
Filing Date	10/29/2026	8/6/2026	8/8/2025	8/5/2024	8/4/2023	8/5/2022	8/6/2021
Key Financials
Total Revenue	14,506	13,579	12,156	9,812	10,496	9,212	6,919
Gross Profit	8,916	8,324	7,404	5,884	6,278	5,619	4,147
EBITDA	6,796	6,284	5,341	3,903	4,501	4,013	2,851
Operating Income	6,185	5,661	5,014	3,636	3,995	3,654	2,488
Net Income	5,258	4,831	4,062	2,762	3,387	3,322	2,078
EPS	4.02	3.68	3.05	2.04	2.43	2.21	1.35
Growth Rates
Total Revenue Growth	15.8%	11.7%	23.9%	-6.5%	13.9%	33.1%	19.2%
EBITDA Growth	22.2%	17.7%	36.8%	-13.3%	12.2%	40.7%	56.2%
Operating Income Growth	18.2%	12.9%	37.9%	-9.0%	9.3%	46.8%	41.5%
Net Income Growth	24.1%	18.9%	47.1%	-18.5%	2.0%	59.8%	70.8%
Margins
Gross Margin	61.5%	61.3%	60.9%	60.0%	59.8%	61.0%	59.9%
EBITDA Margin	46.9%	46.3%	43.9%	39.8%	42.9%	43.6%	41.2%
Operating Income Margin	42.6%	41.7%	41.2%	37.1%	38.1%	39.7%	36.0%
Net Income Margin	36.2%	35.6%	33.4%	28.1%	32.3%	36.1%	30.0%
Cash & Debt
Total Cash	4,741	4,902	4,495	4,504	3,243	2,708	2,495
Total Debt	5,993	6,152	6,088	6,820	6,063	6,774	3,546
Net Debt / (Cash)	1,251	1,249	1,594	2,316	2,820	4,066	1,051
Cash Flows & CapEx
Net Cash from Operations	4,512	4,143	4,082	3,309	3,670	3,313	2,185
Total CapEx	-475	-376	-335	-277	-342	-307	-232
Free Cash from Operations	4,038	3,767	3,747	3,031	3,328	3,005	1,953
Returns to Shareholders
Dividends	1,109	1,058	905	773	733	639	559
Share Repurchases	2,680	2,290	2,150	1,736	1,312	3,968	939

$ Mil \| FY: 6/30	2027Q1	2026Q4	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2
Period End	9/30/2026	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023
Filing Date	10/29/2026	8/6/2026	4/30/2026	1/30/2026	10/31/2025	8/8/2025	5/1/2025	1/31/2025	10/31/2024	8/5/2024	4/26/2024	1/26/2024
Key Financials Quarterly
Total Revenue	4,136	3,658	3,415	3,297	3,210	3,175	3,063	3,077	2,842	2,569	2,360	2,487
Ebitda	1,989	1,721	1,586	1,499	1,478	1,498	1,434	1,151	1,257	1,129	881	865
Operating Income	1,862	1,554	1,408	1,362	1,337	1,352	1,300	1,242	1,120	977	807	952
Net Income	1,549	1,363	1,201	1,146	1,121	1,203	1,088	825	946	836	602	583
EPS	1.19	1.04	0.92	0.87	0.85	0.91	0.82	0.62	0.70	0.62	0.45	0.43
Key Financials TTM
Total Revenue TTM	14,506	13,579	13,097	12,745	12,524	12,156	11,550	10,847	10,257	9,812	9,599	9,671
Ebitda TTM	6,796	6,284	6,061	5,909	5,562	5,341	4,971	4,418	4,131	3,903	3,728	3,827
Operating Income TTM	6,185	5,661	5,459	5,351	5,231	5,014	4,640	4,146	3,856	3,636	3,483	3,536
Net Income TTM	5,258	4,831	4,671	4,558	4,237	4,062	3,695	3,208	2,966	2,762	2,610	2,706
Growth Rates Quarterly
Total Revenue Growth	28.9%	15.2%	11.5%	7.2%	13.0%	23.6%	29.8%	23.7%	18.5%	9.1%	-3.0%	-16.7%
EBITDA Growth	34.6%	14.9%	10.6%	30.2%	17.6%	32.7%	62.8%	33.2%	22.2%	18.4%	-10.1%	-34.5%
Operating Income Growth	39.2%	15.0%	8.2%	9.7%	19.4%	38.3%	61.2%	30.4%	24.5%	18.6%	-6.2%	-20.6%
Net Income Growth	38.1%	13.3%	10.3%	39.0%	18.5%	43.8%	80.9%	41.5%	27.6%	22.2%	-13.8%	-40.5%
Margins Quarterly
EBITDA Margin	48.1%	47.1%	46.4%	45.5%	46.0%	47.2%	46.8%	37.4%	44.2%	43.9%	37.3%	34.8%
Operating Income Margin	45.0%	42.5%	41.2%	41.3%	41.7%	42.6%	42.5%	40.4%	39.4%	38.0%	34.2%	38.3%
Net Income Margin	37.4%	37.3%	35.2%	34.7%	34.9%	37.9%	35.5%	26.8%	33.3%	32.6%	25.5%	23.4%
Cash & Debt
Total Cash	4,741	4,902	4,958	5,207	4,684	4,495	4,029	3,780	4,630	4,504	4,294	3,343
Total Debt	5,993	6,152	6,145	6,109	6,088	6,088	6,089	6,073	6,826	6,820	6,824	6,084
Net Debt / (Cash)	1,251	1,249	1,187	902	1,405	1,594	2,061	2,292	2,196	2,316	2,529	2,741
Cash Flows Quarterly
FCF from Operations	1,531	906	707	1,368	1,162	1,165	1,072	850	995	893	910	622
Cash Flows TTM
FCF from Operations TTM	4,512	4,143	4,402	4,766	4,248	4,082	3,810	3,647	3,420	3,309	3,375	3,476
Returns to Shareholders Quarterly
Dividends	305	305	249	250	254	254	226	227	198	198	197	197
Share Repurchases	936	571	626	548	545	426	507	650	567	470	372	438
Return on Invested Capital (ROIC) Quarterly
ROIC	167.4%	139.7%	124.6%	133.8%	117.6%	119.2%	101.3%	91.7%	88.7%	76.1%	59.3%	66.0%
Return on Invested Capital (ROIC) TTM
ROIC TTM	140.7%	124.6%	123.6%	132.9%	116.7%	106.8%	91.1%	78.3%	75.6%	69.2%	64.5%	63.1%

Segment Financials

Revenue by Segment

$ Mil	2026	2025	2024	2023	2022
Semiconductor Process Control	12,245	10,947	8,734	9,324	7,925
Printed Circuit Boards (PCB) and Component Inspection	750	622	552	632	832
Specialty Semiconductor Process	584	587	529	543	457
Effects of changes in foreign currency exchange rates	0	-0	-3	-3	-2
Total	13,579	12,156	9,812	10,496	9,212

Operating Income by Segment

$ Mil	2026
Semiconductor Process Control	5,483
Printed Circuit Boards (PCB) and Component Inspection	108
Specialty Semiconductor Process	65
Unallocated amounts	5
Total	5,661

Price Behavior

Price Behavior

Market Price	$157.91
Market Cap ($ Bil)	206.1
First Trading Date	03/26/1990
Distance from 52W High	-47.6%
	50 Days	200 Days
DMA Price	$178.62	$181.81
DMA Trend	down	up
Distance from DMA	-11.6%	-13.1%
	3M	1YR
Volatility	51.3%	61.2%
Downside Capture	284.97	271.65
Upside Capture	155.76	266.95
Correlation (S&P 500)	47.4%	57.7%

KLAC Betas & Captures as of 10/31/2026

	1M	2M	3M	6M	1Y	3Y
Beta	2.94	2.26	2.25	3.32	2.80	2.07
Up Beta	2.27	2.27	2.57	3.96	2.88	1.96
Down Beta	3.90	4.87	4.04	2.79	2.39	1.73
Up Capture	93%	123%	137%	482%	778%	3784%
Bmk +ve Days	12	18	28	62	130	427
Stock +ve Days	8	20	29	61	136	421
Down Capture	354%	178%	207%	245%	172%	113%
Bmk -ve Days	10	25	36	64	121	325
Stock -ve Days	14	23	35	65	115	331

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with KLAC
KLAC	28.7%	61.2%	0.65	-
Sector ETF (XLK)	18.6%	27.1%	0.60	73.2%
Equity (SPY)	10.9%	12.8%	0.52	58.4%
Gold (GLD)	-2.0%	28.6%	-0.08	29.4%
Commodities (DBC)	48.2%	20.6%	1.79	-8.7%
Real Estate (VNQ)	10.2%	13.7%	0.45	-1.0%
Bitcoin (BTCUSD)	-30.0%	43.5%	-0.70	21.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with KLAC
KLAC	37.1%	47.0%	0.82	-
Sector ETF (XLK)	18.6%	26.1%	0.64	77.7%
Equity (SPY)	12.2%	17.1%	0.53	67.3%
Gold (GLD)	16.2%	19.0%	0.68	16.9%
Commodities (DBC)	9.2%	19.5%	0.35	9.9%
Real Estate (VNQ)	0.9%	18.9%	-0.06	29.8%
Bitcoin (BTCUSD)	4.9%	51.6%	0.28	26.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with KLAC
KLAC	38.4%	43.7%	0.90	-
Sector ETF (XLK)	23.7%	25.1%	0.86	77.3%
Equity (SPY)	15.2%	17.9%	0.72	69.1%
Gold (GLD)	11.4%	16.5%	0.56	13.1%
Commodities (DBC)	8.2%	18.1%	0.37	16.2%
Real Estate (VNQ)	5.3%	20.7%	0.21	38.7%
Bitcoin (BTCUSD)	61.8%	66.2%	1.02	20.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date	10152026
Short Interest: Shares Quantity	24.9 Mil
Short Interest: % Change Since 9302026	2.6%
Average Daily Volume	9.2 Mil
Days-to-Cover Short Interest	2.7 days
Basic Shares Quantity	1,305.3 Mil
Short % of Basic Shares	1.9%

Returns Analyses

	Title
0	With KLA Stock Sliding, Have You Assessed The Risk?
1	KLAC YTD Stock Return Of -16% Outperforms BRKS by 84% and Underperforms ADI by -9.7%
2	KLA Stock Return Comparison
3	[10/13/2021] KLA Tencor (KLAC) Stock Price Forecast: AI Forecasts KLAC Stock Price To Be Around $335 In A Month (Up 4.5%)

Earnings Returns History

Updated 11/1/2026

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/28/2026	5.5%
7/28/2026	-10.8%	2.4%	-3.5%
4/29/2026	-3.6%	0.0%	5.9%
1/29/2026	-15.2%	-21.0%	-8.8%
10/29/2025	-1.7%	-0.7%	-6.2%
7/31/2025	0.9%	3.8%	-0.6%
4/30/2025	-3.8%	-1.2%	8.0%
1/30/2025	-0.6%	2.6%	-6.7%
...
SUMMARY STATS
# Positive	13	16	13
# Negative	11	7	10
Median Positive	3.7%	3.9%	8.0%
Median Negative	-3.8%	-3.2%	-4.9%
Max Positive	9.0%	15.6%	24.5%
Max Negative	-15.2%	-21.0%	-11.3%

Collapse to Preview

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/28/2026	5.5%
7/28/2026	-10.8%	2.4%	-3.5%
4/29/2026	-3.6%	0.0%	5.9%
1/29/2026	-15.2%	-21.0%	-8.8%
10/29/2025	-1.7%	-0.7%	-6.2%
7/31/2025	0.9%	3.8%	-0.6%
4/30/2025	-3.8%	-1.2%	8.0%
1/30/2025	-0.6%	2.6%	-6.7%
10/30/2024	-3.7%	-3.2%	-6.2%
7/24/2024	0.9%	8.9%	5.8%
4/25/2024	4.9%	1.4%	16.0%
1/25/2024	-6.6%	-6.6%	6.8%
10/25/2023	0.7%	4.8%	22.5%
7/27/2023	5.9%	4.1%	0.1%
4/26/2023	7.6%	5.8%	21.9%
1/26/2023	-6.9%	-3.4%	-11.3%
10/26/2022	0.8%	2.0%	24.5%
7/28/2022	3.7%	7.4%	-2.6%
4/28/2022	-4.1%	0.2%	11.9%
1/27/2022	1.3%	3.3%	-3.4%
10/27/2021	4.3%	15.6%	17.4%
7/29/2021	9.0%	10.7%	7.7%
4/29/2021	-3.4%	-3.2%	-2.6%
2/3/2021	2.8%	4.0%	3.6%
SUMMARY STATS
# Positive	13	16	13
# Negative	11	7	10
Median Positive	3.7%	3.9%	8.0%
Median Negative	-3.8%	-3.2%	-4.9%
Max Positive	9.0%	15.6%	24.5%
Max Negative	-15.2%	-21.0%	-11.3%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
09/30/2026	10/29/2026	10-Q
06/30/2026	08/06/2026	10-K
03/31/2026	04/30/2026	10-Q
12/31/2025	01/30/2026	10-Q
09/30/2025	10/31/2025	10-Q
06/30/2025	08/08/2025	10-K
03/31/2025	05/01/2025	10-Q
12/31/2024	01/31/2025	10-Q
09/30/2024	10/31/2024	10-Q
06/30/2024	08/05/2024	10-K
03/31/2024	04/26/2024	10-Q
12/31/2023	01/26/2024	10-Q
09/30/2023	10/27/2023	10-Q
06/30/2023	08/04/2023	10-K
03/31/2023	04/28/2023	10-Q
12/31/2022	01/27/2023	10-Q

Collapse to Preview

Report Date	Filing Date	Filing
09/30/2026	10/29/2026	10-Q
06/30/2026	08/06/2026	10-K
03/31/2026	04/30/2026	10-Q
12/31/2025	01/30/2026	10-Q
09/30/2025	10/31/2025	10-Q
06/30/2025	08/08/2025	10-K
03/31/2025	05/01/2025	10-Q
12/31/2024	01/31/2025	10-Q
09/30/2024	10/31/2024	10-Q
06/30/2024	08/05/2024	10-K
03/31/2024	04/26/2024	10-Q
12/31/2023	01/26/2024	10-Q
09/30/2023	10/27/2023	10-Q
06/30/2023	08/04/2023	10-K
03/31/2023	04/28/2023	10-Q
12/31/2022	01/27/2023	10-Q
09/30/2022	10/28/2022	10-Q
06/30/2022	08/05/2022	10-K
03/31/2022	04/29/2022	10-Q
12/31/2021	01/28/2022	10-Q
09/30/2021	10/28/2021	10-Q
06/30/2021	08/06/2021	10-K
03/31/2021	04/30/2021	10-Q
12/31/2020	02/04/2021	10-Q
09/30/2020	10/30/2020	10-Q
06/30/2020	08/10/2020	10-K
03/31/2020	05/06/2020	10-Q
12/31/2019	02/05/2020	10-Q

Recent Forward Guidance

Updated 10/29/2026

Latest: Q1 2027 Earnings Reported 10/28/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2027 Total revenues	Reported	4.50 Bil	4.70 Bil	4.90 Bil	17.5%		Higher New	Guidance: 4.00 Bil for Q1 2027
Q2 2027 GAAP gross margin	Reported	60.8%	61.8%	62.8%		0.2%	Higher New	Guidance: 61.6% for Q1 2027
Q2 2027 Non-GAAP gross margin	Reported	61.5%	62.5%	63.5%		0.0%	Same New	Guidance: 62.5% for Q1 2027
Q2 2027 Shares used in net income per diluted share calculation	Reported		1.31 Bil
Q2 2027 GAAP diluted EPS	Reported	1.3	1.41	1.52	23.7%		Higher New	Guidance: 1.14 for Q1 2027
Q2 2027 Non-GAAP diluted EPS	Reported	1.33	1.44	1.55	24.1%		Higher New	Guidance: 1.16 for Q1 2027

Prior: Q4 2026 Earnings Reported 7/28/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q1 2027 Revenue	Reported	3.80 Bil	4.00 Bil	4.20 Bil	11.9%		Higher New	Guidance: 3.58 Bil for Q4 2026
Q1 2027 Gross Profit	Calculated	2.34 Bil	2.50 Bil	2.67 Bil				Rev x Gross Margin
Q1 2027 GAAP Gross Margin	Reported	60.6%	61.6%	62.6%		0.9%	Higher New	Guidance: 60.72% for Q4 2026
Q1 2027 Non-GAAP Gross Margin	Reported	61.5%	62.5%	63.5%		0.8%	Higher New	Guidance: 61.75% for Q4 2026
Q1 2027 GAAP Diluted EPS	Reported	1.04	1.14	1.24	-88.2%		Lower New	Guidance: 9.66 for Q4 2026
Q1 2027 Non-GAAP Diluted EPS	Reported	1.06	1.16	1.26	-88.2%		Lower New	Guidance: 9.87 for Q4 2026

Q3 2026 Earnings Reported 4/29/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q4 2026 Revenue	Reported	3.38 Bil	3.58 Bil	3.77 Bil	6.7%		Higher New	Guidance: 3.35 Bil for Q3 2026
Q4 2026 GAAP Gross Margin	Reported	59.72%	60.72%	61.72%		0.1%	Higher New	Guidance: 60.62% for Q3 2026
Q4 2026 Non-GAAP Gross Margin	Reported	60.75%	61.75%	62.75%		0.0%	Same New	Guidance: 61.75% for Q3 2026
Q4 2026 GAAP Diluted EPS	Reported	8.66	9.66	10.66	9.2%		Higher New	Guidance: 8.85 for Q3 2026
Q4 2026 Non-GAAP Diluted EPS	Reported	8.87	9.87	10.87	8.7%		Higher New	Guidance: 9.08 for Q3 2026

Q2 2026 Earnings Reported 1/29/2026

Forward Guidance					Guidance Change
Metric	Source	Low	Mid	High	% Chg	% Delta	Change	Prior
Q3 2026 Revenue	Reported	3.20 Bil	3.35 Bil	3.50 Bil	3.9%		Higher New	Guidance: 3.23 Bil for Q2 2026
Q3 2026 Gross Profit	Calculated	1.94 Bil	2.07 Bil	2.20 Bil				Rev x Gross Margin
Q3 2026 GAAP Gross Margin	Reported	59.62%	60.62%	61.62%		-0.2%	Lower New	Guidance: 60.8% for Q2 2026
Q3 2026 Non-GAAP Gross Margin	Reported	60.75%	61.75%	62.75%		-0.2%	Lower New	Guidance: 62.0% for Q2 2026
Q3 2026 GAAP Diluted EPS	Reported	8.07	8.85	9.63	4.6%		Higher New	Guidance: 8.46 for Q2 2026
Q3 2026 Non-GAAP Diluted EPS	Reported	8.3	9.08	9.86	4.4%		Higher New	Guidance: 8.7 for Q2 2026

Insider Activity

Updated 9/16/2026

Expand for More

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Wallace, Richard P	President and CEO	Direct	Sell	9162026	171.88	72,019	12,378,626	121,506,192	Form
2	Lorig, Brian	EVP, KLA Global Services	Direct	Sell	8142026	208.13	59,586	12,401,634	16,167,766	Form
3	Higgins, Bren D	EVP & Chief Financial Officer	Direct	Sell	8132026	209.87	31,500	6,610,905	64,601,226	Form
4	Khan, Ahmad A	President, Semi. Prod. & Cust.	Direct	Sell	8122026	198.95	33,180	6,601,161	47,359,051	Form
5	Wallace, Richard P	President and CEO	Direct	Sell	8122026	198.95	87,568	17,421,654	154,970,819	Form

Collapse to Preview

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Wallace, Richard P	President and CEO	Direct	Sell	9162026	171.88	72,019	12,378,626	121,506,192	Form
2	Lorig, Brian	EVP, KLA Global Services	Direct	Sell	8142026	208.13	59,586	12,401,634	16,167,766	Form
3	Higgins, Bren D	EVP & Chief Financial Officer	Direct	Sell	8132026	209.87	31,500	6,610,905	64,601,226	Form
4	Khan, Ahmad A	President, Semi. Prod. & Cust.	Direct	Sell	8122026	198.95	33,180	6,601,161	47,359,051	Form
5	Wallace, Richard P	President and CEO	Direct	Sell	8122026	198.95	87,568	17,421,654	154,970,819	Form
6	Kirloskar, Virendra A	SVP & Chief Accounting Officer	Direct	Sell	8112026	204.56	529	108,212	2,708,792	Form
7	Wilkinson, Mary Beth	EVP, CLO and Secretary	Direct	Sell	8112026	204.56	1,661	339,774	7,575,272	Form
8	Wilkinson, Mary Beth	EVP, CLO and Secretary	Direct	Sell	8102026	197.57	21,831	4,313,151	7,644,582	Form
9	Kirloskar, Virendra A	SVP & Chief Accounting Officer	Direct	Sell	8102026	197.57	2,405	475,156	2,720,744	Form
10	Wilkinson, Mary Beth	EVP, CLO and Secretary	Direct	Sell	8052026	195.50	13,802	2,698,291	4,322,472	Form
11	Kirloskar, Virendra A	SVP & Chief Accounting Officer	Direct	Sell	8052026	195.50	4,504	880,532	1,558,614	Form
12	Wilkinson, Mary Beth	EVP, CLO and Secretary	Direct	Sell	8042026	191.59	4,295	822,879	6,880,348	Form
13	Kirloskar, Virendra A	SVP & Chief Accounting Officer	Direct	Sell	8042026	191.59	1,565	299,838	2,390,363	Form
14	Higgins, Bren D	EVP & Chief Financial Officer	Direct	Sell	7062026	265.69	27,701	7,359,879	70,001,928	Form
15	Kirloskar, Virendra A	SVP & Chief Accounting Officer	Direct	Sell	7062026	265.69	196	52,075	5,200,900	Form
16	Wilkinson, Mary Beth	EVP, CLO and Secretary	Direct	Sell	7022026	285.30	14,392	4,106,038	15,225,689	Form
17	Wallace, Richard P	President and CEO	Direct	Sell	6112026	2213.37	4,512	9,986,725	157,997,008	Form
18	Wallace, Richard P	President and CEO	Direct	Sell	5122026	1794.00	4,512	8,094,528	136,155,644	Form
19	Kirloskar, Virendra A	SVP & Chief Accounting Officer	Direct	Sell	5122026	1879.02	297	558,069	3,678,165	Form
20	Hanley, Jeneanne Michelle		Direct	Sell	5122026	1874.71	550	1,031,088	6,656,579	Form
21	Higgins, Bren D	EVP & Chief Financial Officer	Direct	Sell	12182025	1237.01	2,254	2,788,221	39,775,314	Form
22	Wallace, Richard P	President and CEO	Direct	Sell	11132025	1203.10	10,803	12,997,089	97,704,964	Form
23	Khan, Ahmad A	President, Semi. Prod. & Cust.	Direct	Sell	9092025	900.00	4,564	4,107,600	20,527,427	Form
24	Khan, Ahmad A	President, Semi. Prod. & Cust.	Direct	Sell	9022025	881.50	13,716	12,090,654	24,128,640	Form

Investor Activity (13F)

Updated Nov 1, 2026

13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Uhlmann Price Securities, LLC	$1.2 Bil	82.1%	253	New	13F
Oaktop Capital Management Ii, L.P.	$457.5 Mil	34.1%	14	Hold	13F
Harbor Island Capital LLC	$20.0 Mil	7.4%	16	Hold	13F
Triodos Investment Management BV	$73.5 Mil	5.6%	49	TRIM -13.4%	13F
Local Pensions Partnership Investment Ltd	$252.0 Mil	5.4%	32	TRIM -18.0%	13F
Carmel Capital Management L.L.C.	$17.6 Mil	5.1%	25	TRIM -11.6%	13F
Stockbridge Partners LLC	$196.2 Mil	4.7%	16	TRIM -12.9%	13F
Jia Investment Alliance PTE. LTD.	$43.6 Mil	4.6%	24	Hold	13F
Unio Capital LLC	$18.4 Mil	4.0%	21	New	13F
Summit Street Capital Management, LLC	$22.1 Mil	3.1%	31	Hold	13F
Tyro Capital Management LLC	$9.0 Mil	2.3%	23	New	13F
Promethos Capital, LLC	$8.2 Mil	2.2%	46	TRIM -5.6%	13F
Anther Capital Ltd	$70.4 Mil	1.8%	31	New	13F
Walter Public Investments Inc.	$7.1 Mil	1.7%	48	TRIM -30.6%	13F
Kinetic Partners Management, LP	$29.3 Mil	1.6%	49	New	13F
PineStone Asset Management Inc.	$157.6 Mil	1.1%	44	New	13F
Artemis Wealth Advisors, LLC	$5.3 Mil	0.8%	44	ADD +80.0%	13F
Third Point LLC	$16.2 Mil	0.8%	33	New	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Uhlmann Price Securities, LLC	$1.2 Bil	82.1%	253	New	13F
PineStone Asset Management Inc.	$157.6 Mil	1.1%	44	New	13F
Anther Capital Ltd	$70.4 Mil	1.8%	31	New	13F
Kinetic Partners Management, LP	$29.3 Mil	1.6%	49	New	13F
Unio Capital LLC	$18.4 Mil	4.0%	21	New	13F
Third Point LLC	$16.2 Mil	0.8%	33	New	13F
Tyro Capital Management LLC	$9.0 Mil	2.3%	23	New	13F
Artemis Wealth Advisors, LLC	$5.3 Mil	0.8%	44	ADD +80.0%	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	As Of	Filing
Dakota Wealth Management	$1.1 Bil	18.7%	773	Exited	Dec 31, 2025	13F
Analog Century Management LP	$87.1 Mil	4.3%	24	Exited	Dec 31, 2025	13F
Ariose Capital Management Ltd	$16.2 Mil	5.4%	14	Exited	Dec 31, 2025	13F
MIG Capital, LLC	$5.4 Mil	0.9%	43	Exited	Dec 31, 2025	13F
Walter Public Investments Inc.	$7.1 Mil	1.7%	48	TRIM -30.6%	Mar 31, 2026	13F
Local Pensions Partnership Investment Ltd	$252.0 Mil	5.4%	32	TRIM -18.0%	Mar 31, 2026	13F
Triodos Investment Management BV	$73.5 Mil	5.6%	49	TRIM -13.4%	Mar 31, 2026	13F
Stockbridge Partners LLC	$196.2 Mil	4.7%	16	TRIM -12.9%	Mar 31, 2026	13F
Carmel Capital Management L.L.C.	$17.6 Mil	5.1%	25	TRIM -11.6%	Mar 31, 2026	13F
Promethos Capital, LLC	$8.2 Mil	2.2%	46	TRIM -5.6%	Mar 31, 2026	13F

Active Manager	Value	% of Portfolio	Total Positions	QoQ	Filing
Uhlmann Price Securities, LLC	$1.2 Bil	82.1%	253	New	13F
Oaktop Capital Management Ii, L.P.	$457.5 Mil	34.1%	14	Hold	13F
Local Pensions Partnership Investment Ltd	$252.0 Mil	5.4%	32	TRIM -18.0%	13F
Stockbridge Partners LLC	$196.2 Mil	4.7%	16	TRIM -12.9%	13F
PineStone Asset Management Inc.	$157.6 Mil	1.1%	44	New	13F
Triodos Investment Management BV	$73.5 Mil	5.6%	49	TRIM -13.4%	13F
Anther Capital Ltd	$70.4 Mil	1.8%	31	New	13F
Jia Investment Alliance PTE. LTD.	$43.6 Mil	4.6%	24	Hold	13F
Kinetic Partners Management, LP	$29.3 Mil	1.6%	49	New	13F
Summit Street Capital Management, LLC	$22.1 Mil	3.1%	31	Hold	13F
Harbor Island Capital LLC	$20.0 Mil	7.4%	16	Hold	13F
Unio Capital LLC	$18.4 Mil	4.0%	21	New	13F
Carmel Capital Management L.L.C.	$17.6 Mil	5.1%	25	TRIM -11.6%	13F
Third Point LLC	$16.2 Mil	0.8%	33	New	13F
Tyro Capital Management LLC	$9.0 Mil	2.3%	23	New	13F
Promethos Capital, LLC	$8.2 Mil	2.2%	46	TRIM -5.6%	13F
Walter Public Investments Inc.	$7.1 Mil	1.7%	48	TRIM -30.6%	13F
Artemis Wealth Advisors, LLC	$5.3 Mil	0.8%	44	ADD +80.0%	13F

KLAC Trade Sentinel

Stock Conviction

High Conviction

CONVICTION RATIONALE

KLA is capitalizing on an AI-driven investment super-cycle, evidenced by its backlog surging to $12.57 billion. Management's strong guidance and visibility into calendar 2027 suggest a durable upswing. The company is converting this demand at record operating margins, demonstrating strong execution and pricing power in a capacity-constrained market.

STOCK ARCHETYPE

Capital Equipment & Services

(Number of new fab/node builds) * (Process control intensity per node) * (ASP per system) + (Installed base of systems) * (Service attach rate & pricing) Sales of high-end, high-margin inspection and metrology systems for leading-edge semiconductor manufacturing, driven by technology inflections like AI and EUV.

Looking for high-conviction positions with a better risk/reward profile? See what's currently in the Trefis High Quality Portfolio.

INVESTMENT THESIS

Is the AI-driven demand surge a structural super-cycle or just another cyclical peak?

Evidence points to a structural shift, with accelerating backlog growth and management visibility confirming a strong demand environment extending into calendar 2027.

Mechanism: Converting the record $12.57 billion backlog into revenue at peak operating margins (42.6% TTM). The AI-driven need for process control intensity provides pricing power and a path to significant earnings growth as the wafer equipment market is expected to exceed $200 billion in 2027.

Supporting Evidence:

Backlog increased to $12.57 billion from $7.86 billion in the prior year.
Latest-quarter revenue growth accelerated to 28.9% year-over-year.
Management projects the wafer equipment market will exceed $200 billion in 2027.
Guidance for next quarter revenue was raised to $4.7 billion at the midpoint.
Advanced Packaging revenue is growing over 70% year-over-year in calendar 2026.

PRIMARY RISK

Geopolitical Risk to China Sales

With 30% of fiscal 2026 revenue from China, the business is highly exposed to US export controls. A sudden tightening of regulations could erase a significant portion of the company's backlog and future revenue, a risk the market may be under-appreciating amid the current demand surge.

Mechanism: A downward revision to revenue guidance explicitly citing new US Commerce Department restrictions on China.

Supporting Evidence:

Revenue from China was 30% of the total in fiscal year 2026.
The company is subject to evolving U.S. Commerce Department (BIS) rules.
Management is already forecasting China revenue to decline to the low 20s percentile in 2027.
A key export control rule suspension is set to expire in November 2026.

Key KPI Watchlist

KPI	Status	Rationale
Backlog Growth	$12.57 billion as of June 30, 2026 - Accelerating	The significant year-over-year increase and ongoing qualitative commentary on growth indicate accelerating demand from customers and provide strong visibility into calendar 2027. Management explicitly stated that the "pace of our backlog growth is a key signal of accelerating momentum."
Advanced Packaging Revenue Growth	On track for "$1.1 billion or more" in calendar 2026 - Accelerating	Management has consistently raised its outlook for this segment, citing its critical role in AI infrastructure and KLA's ability to outpace the market's growth. The company's growth in this segment is expected to be "Nearly twice the growth rate of the advanced packaging market."
Latest-Quarter Revenue Growth (YoY)	28.9% (Quarter ended 9/30/2026)	Indicates the current pace of business expansion. The acceleration from 15.2% in the prior quarter to 28.9% in the latest quarter shows significant momentum in customer demand and shipments.

Core Investment Debate

AI Super-Cycle vs. Geopolitical Shock

BULL VIEW

Bulls see a durable, AI-fueled up-cycle, validated by a $12.57 billion backlog and a 2027 market outlook over $200 billion. They believe KLA's technology leadership makes it an essential, non-discretionary supplier for this buildout, justifying peak margins.

CORE TENSION

Can accelerating AI-driven demand, reflected in the $12.57B backlog, overcome the structural risk of a revenue shock from new US export controls on China?

PREVAILING SENTIMENT

BULLISH

The latest evidence favors the bulls. The October earnings report featured a significant guidance raise and management commentary confirming visibility into 2027, directly addressing cyclical concerns.

BEAR VIEW

Bears see a business hostage to geopolitics, with 30% of revenue exposed to China. They argue that a sudden change in US export controls could invalidate the backlog and growth story, regardless of underlying AI demand, reprising past cyclical downturns.

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch
November 2026	Export Control Rule Expiration Watch: The suspension of the U.S. Commerce Department's 'Affiliates Rule' for export controls is set to expire.
1/26/2027	Peer Demand Signal Watch: LRCX's revenue guidance, commentary on customer spending patterns, and outlook for calendar 2027 WFE.
1/27/2027	Supply Chain Execution Failure Watch: Any downward revision to revenue guidance or commentary indicating that supply constraints are worsening or not improving as expected.
1/27/2027	Gross Margin Compression Watch: Gross margin results versus guidance and any change in commentary regarding the duration or magnitude of component cost headwinds.
1/27/2027	Quarterly Earnings And Guidance Watch: KLA is scheduled to report Q2 FY2027 earnings and provide updated guidance for the March quarter.
2/10/2027	Peer Earnings Report Watch: Peer Applied Materials (AMAT) is scheduled to report earnings, providing further industry demand signals.
No set date	New US Export Controls Watch: Announcements from the U.S. Department of Commerce or BIS regarding new semiconductor-related export controls targeting China.
late January	Updated Calendar Year Outlook Watch: Management will provide an updated outlook for the wafer equipment market and customer segments for calendar year 2027.

Key Events in Last 6 Months

Date	Event	Stock Impact
2026-10-28	Q1 Earnings Beat And Guidance Raise Details: KLA reported Q1 FY27 revenue of $4.14 billion, beating guidance. The company issued higher guidance for Q2 2027 revenues and EPS, leading to a 9.0% positive two-day stock reaction.	+9.0% $153.66 -> $167.43
2026-09-29	Bullish Commentary Amid Pullback Details: Analyst notes in September reiterated a 'buy' rating, viewing a valuation pullback as an attractive entry point given robust long-term growth prospects and targets.	+3.0% $189.17 -> $194.93
2026-08-06	Quarterly Dividend Declared Details: The Board of Directors declared a quarterly cash dividend of $0.23 per share, payable on September 1, 2026.	+2.8% $192.58 -> $197.89
2026-07-28	Q4 Earnings And Negative Reaction Details: The company reported Q4 FY26 revenue of $3.66 billion. The stock had a two-day negative reaction of -16.0% around the July 28, 2026 earnings call.	-16.3% $203.13 -> $170.00
2026-06-11	Positive Sector Outlook Details: Shares moved higher after news reports in June indicated analysts raised expectations for the wafer fabrication equipment market, citing growing AI investment.	+19.2% $213.32 -> $254.25
2026-05-21	Stock Split And Dividend Hike Details: The company announced a 10-for-1 forward stock split in May 2026. This was accompanied by a dividend hike of roughly 21%.	+3.2% $182.74 -> $188.62

Risk Management

Position Sizing

2% - 4%

REDUCED POSITION

Sizing is volatility-based: KLAC trades at roughly 50% annualized realized (three-month) volatility versus about 10% for the S&P 500 (4.9x the market). A 2% - 4% position keeps a single-name swing of that size within a diversified portfolio's risk budget.

Diversification Alternatives

AMAT - Applied Materials, Inc.

Broad Market Exposure

Applied Materials offers broader exposure to the semiconductor equipment market with more than double KLA's revenue. This scale provides diversification across different parts of the chip manufacturing process.

Core Thesis: A play on the entire wafer fab equipment spending cycle with leadership positions across multiple segments.

ONTO - Onto Innovation, Inc.

Specialized Niche Player

Onto Innovation is a smaller, more specialized competitor. It could offer more focused exposure to specific niches within the process control market, potentially with higher growth beta.

Core Thesis: A smaller, specialized bet on process control technology with potential for faster growth or acquisition.

How Is The Market Pricing KLAC?

KLA is a tollbooth on the road to semiconductor complexity; as chips for AI and other advanced applications become harder to make, demand for its inspection and measurement tools structurally increases.

KLA provides the essential 'eyes' for semiconductor manufacturing. As chipmakers push the limits of physics to create more powerful AI and HPC chips, the manufacturing process becomes exponentially more complex and prone to defects. KLA's systems are critical for identifying these microscopic flaws, making the company a direct beneficiary of increasing technological complexity and the primary enabler of high-volume production for the most advanced semiconductors.

What will confirm the thesis

Announcements of new, more complex semiconductor nodes (e.g., 2-nanometer) by major foundries, increased capital expenditure plans from leading-edge chipmakers, and reports of rising process control intensity.

What will damage the thesis

A significant slowdown in AI infrastructure investment, a major cyclical downturn in the semiconductor industry, or a manufacturing technology breakthrough that drastically simplifies production and reduces the need for inspection.

Noise: Real but irrelevant to thesis

Short-term stock price fluctuations unrelated to fundamental demand, or minor competitive product announcements that do not challenge KLA's overall technology leadership.

Repricing Catalyst

The accelerating and sustained wave of investment in AI infrastructure, which is driving unprecedented demand for leading-edge logic, memory, and advanced packaging, all of which require higher process control intensity.

What KLAC Makes & Who Pays

TTM figures based on the twelve months through fiscal Q1 2027

Semiconductor Process Control

$13.1B TTM (90% of Total) · 46% Margin

What It Is

This segment sells a comprehensive portfolio of inspection, metrology, and software products, along with related services, to manufacturers of integrated circuits, wafers, reticles, and chemicals/materials. These tools support the entire fabrication process from R&D to high-volume production.

Who Pays & How

Semiconductor manufacturers (foundry/logic and memory) pay for these systems to achieve target yields, accelerate production ramps, and improve profitability. As chip geometries shrink and complexity increases (e.g., for AI and EUV lithography), process control becomes more critical, making KLA's solutions indispensable.

Primarily one-time equipment sales, supplemented by recurring service contracts.

Competition

Applied Materials, Inc., ASML Holding N.V., Hitachi High-Tech Corporation, Lasertec, Inc. and Onto Innovation, Inc.

Some competitors may have greater financial, research, engineering, manufacturing, and marketing resources.

KLA's moat is its leading technology, a result of significant and sustained R&D investment, deep long-term customer relationships, and a large global field sales and service organization.

Specialty Semiconductor Process

$604M TTM (4% of Total) · 11% Margin

What It Is

This segment sells advanced vacuum deposition and etching process tools to specialty semiconductor customers, including manufacturers of microelectromechanical systems (MEMS), radio frequency (RF) communication chips, and power semiconductors for automotive and industrial applications.

Who Pays & How

Manufacturers of specialty semiconductors pay for these tools to perform specific process steps like etching and deposition required for their unique devices.

One-time equipment sales.

Competition

Printed Circuit Boards (PCB) and Component Inspection

$803M TTM (6% of Total) · 19% Margin

What It Is

This segment provides solutions to inspect, test, and measure PCBs, IC substrates, and packaged ICs. Customers are electronic device manufacturers.

Who Pays & How

Electronic device manufacturers pay for these systems to verify the quality of their components, pattern circuitry, and ensure the reliability of advanced and traditional semiconductor packages.

One-time equipment sales.

Competition

KLAC Evolution: Price Return by Era

2022-2026 · Dominance of Semiconductor Process Control

+303%

Over the past five fiscal years, KLA's revenue has been overwhelmingly driven by its Semiconductor Process Control segment. This segment's revenue grew from $7,925 million in 2022 to $12,245 million in 2026, consistently representing the vast majority of the company's total sales and nearly all of its operating profit, cementing its role as the core business.

2026-Present · AI-Driven Acceleration

+32%

The company is experiencing a significant acceleration in demand, driven by the global buildout of AI infrastructure. This has led to a substantial increase in backlog, which grew to $12.57 billion by June 2026, and a sharp uptick in quarterly revenue growth, which reached 28.9% in the most recent quarter. Management commentary from October 2026 highlights this as a key inflection point driving the business into 2027.

Market Appears To Be Skeptical Of Core Thesis

Price structure is in a downtrend. Multiple SMA levels broken and declining. Thesis requires reclaiming 200D before any bull case is credible. Relative to SPY: Significantly underperforming and deteriorating. Potential evidence of capital being actively rotating away. Volume and momentum are deeply bearish. The sustained distribution is evident across multiple volume metrics. Earnings history is mildly supportive. The reaction or drift are positive but not both at full conviction.

① Structure

-4

Structural pillar score (-4 to +4). Driven by trend regime, SMA cross events, proximity to 52W high, and relative strength vs SPY.

② Volume / Momentum

-3

Volume/Momentum pillar score (-4 to +4). Driven by institutional footprint score, OBV divergence, and momentum character.

③ Catalyst

Catalyst pillar score (-4 to +4). Driven by earnings day reaction, 20D post-earnings drift, and post-earnings volume character.

Combined Score

-6 / 12

1 Price Structure & Trend Downtrend · Death Cross ▾

2 Momentum Deteriorating ▾

3 Relative Strength vs. SPY Strong Underperformance ▾

4 Institutional Footprint & Volume Mild Distribution ▾

5 Volatility Normal ▾

6 Key Price Levels Range · Vol Flat ▾

7 Earnings Reaction History Inconsistent ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	-4
② Vol / Mom	-3
③ Catalyst	+1

ℹ Bull Pillars: 1 · Bear Pillars: 2 · Combined Score: -6 → Market Appears To Be Skeptical Of Core Thesis

KLA — Investor Video Playlist

Investor / Analyst

KLA (KLAC) Earnings Call Q1 2027 | Rev $850M (+14%)

Insider Trading · 2026-10-28

Products & Services

INTC vs KLAC: Can Intel's 18A Yield Keep KLA Orders Flowing?

Denver Stock Lab · 2026-10-26

Investor / Analyst

KLA Corporation (KLAC) Earnings: $3.7B Revenue, $1.04 EPS — Full Same-Day Breakdown

StockAnalyticsAI · 2026-07-28

Investor / Analyst

Bracing for AI Memory Earnings: STX, WDC & SNDK on Deck

Schwab Network · 2026-07-27

Investor / Analyst

KLA Q1 2026: AI-Driven Growth Beats Despite China Export Risks

TalkTickers: AI Podcast Discussing Earnings Calls · 2025-11-03

Investor / Analyst

Nasdaq Rebounds After Growth Sell-Off: KLA, Primoris, Armstrong In Focus | Stock Market Today

Investor's Business Daily · 2025-07-02

Industry Resources

Information Technology Resources

TechCrunch

Wired

CIO

MIT Technology Review

Gartner Insights

Ars Technica

Semiconductor Materials & Equipment Resources

SEMI

Semiconductor Digest

Semiconductor Today

External Quote Links

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7	FinViz

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Core Cache Last Updated: 10/31/2026

KLA (KLAC)

Market Price (11/1/2026): $158.61 | Market Cap: $206.7 BilInvestor Relations ↗Sector: Information Technology | Industry: Semiconductor Materials & Equipment

KLA (KLAC)

Market Price (11/1/2026): $158.61Market Cap: $206.7 BilSector: Information TechnologyIndustry: Semiconductor Materials & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

KLAC in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About KLA (KLAC)

Major Customers of KLA Corporation (KLAC)

Geopolitical Risks and Export Controls

Supply Chain Disruptions and Dependence on Limited Suppliers

Intense Competition and Cyclicality of the Semiconductor Industry

Semiconductor Process Control Equipment Market

Semiconductor Metrology and Inspection Equipment Market

Wafer Inspection Equipment Market

Semiconductor Defect Inspection Equipment Market

Expected Drivers of Future Revenue Growth for KLA Corporation (KLAC)

Interactive Breakdown

Better Bets vs. KLA (KLAC)

INDUSTRY: Semiconductor Materials & Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for KLAC: 12.9% | 14.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KLAC: 12.9% | 33.3x)

Higher Rev Chg LTM (Value for KLAC: 15.8%)

Higher Rev Chg 3Y Avg (Value for KLAC: 12.9%)

Higher Total Yield (Value for KLAC: 3.1%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for KLAC: 12.9% | 14.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KLAC: 12.9% | 33.3x)

Higher Rev Chg LTM (Value for KLAC: 15.8%)

Higher Rev Chg 3Y Avg (Value for KLAC: 12.9%)

Higher Op Mgn LTM (Value for KLAC: 42.6%)

Higher CFO/Rev LTM (Value for KLAC: 31.1%)

Higher FCF/Rev LTM (Value for KLAC: 27.8%)

Higher Total Yield (Value for KLAC: 3.1%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for KLAC: 12.9% | 14.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for KLAC: 12.9% | 33.3x)

Higher Rev Chg LTM (Value for KLAC: 15.8%)

Higher Rev Chg 3Y Avg (Value for KLAC: 12.9%)

Higher Op Mgn LTM (Value for KLAC: 42.6%)

Higher CFO/Rev LTM (Value for KLAC: 31.1%)

Higher FCF/Rev LTM (Value for KLAC: 27.8%)

Higher Total Yield (Value for KLAC: 3.1%)

Best Bets in Information Technology

P/EBIT (Value for KLAC: 32.2x)

P/E (Value for KLAC: 39.2x)

Rev Chg 3Y Avg (Value for KLAC: 12.9%)

Rev Chg LTM (Value for KLAC: 15.8%)

Rev Chg Q (Value for KLAC: 28.9%)

FCF/Rev 3Y Avg (Value for KLAC: 29.8%)

Peer Outperformance in Semiconductor Materials & Equipment

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Market Price (11/1/2026): $158.61 | Market Cap: $206.7 BilInvestor Relations Sector: Information Technology | Industry: Semiconductor Materials & Equipment

Market Price (11/1/2026): $158.61
Market Cap: $206.7 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment