Recent News
On June 11, 2026 KLA effected a ten-for-one forward stock split and proportionally increased authorized shares, changing post-split share counts and accessibility.
On May 13, 2026 the company published notices for upcoming investor webcasts and IR events, maintaining an active investor calendar through the summer.
Technical Analysis
ADX & DI+/DI-: ADX at 17.43 indicates no established trend; however both directional indicators show reversal signals—DI+ displays a dip-and-reversal (bullish) while DI- shows a peak-and-reversal (bullish). Despite those reversal signals, DI- remains numerically higher (30.38) than DI+ (22.09), so directional pressure currently skews against sustained upside until DI+ overtakes DI-. The lack of ADX strength implies limited follow-through risk in the immediate term.
MACD: MACD sits negative at -8.66 but the MACD trend registers a dip-and-reversal, which signals improving bullish momentum. MACD remains below its signal line (-8.07), so a confirmed momentum shift requires a cross above the signal line to validate the reversal for price upside.
MRO: MRO at -7.28 indicates the market price sits below the model target, implying a technical tendency toward upward pressure; the MRO trend shows decreasing values, which tempers the magnitude of that potential reversion toward target over the near term.
RSI: RSI reads 44.47 with a dip-and-reversal pattern, signaling a shallow momentum recovery from recent weakness but remaining inside neutral territory; the indicator therefore suggests scope for a renewed advance without being overbought.
Price vs Moving Averages & Volatility: The close at $192.74 sits just below the 20-day average ($194.75) and below the 12-day EMA ($195.61, decreasing), indicating short-term downward bias. The 50-day average ($221.43) and the super trend upper band ($213.70) lie well above price, while the 200-day average ($164.78) remains below, reflecting longer-term strength but near-term consolidation. Elevated short-term beta (42-day beta 3.99) signals materially higher volatility; position sensitivity to intraday and weekly moves likely to remain high.
Fundamental Analysis
Revenue and earnings momentum: Total revenue for the period reported at $3,657,556,000 with YoY revenue growth of 94.7% and QoQ revenue growth of 98.5%. Non-GAAP EPS outperformed the consensus estimate by 5% (actual $1.05 vs estimate $1.00), producing a 5% EPS surprise ratio.
Profitability and returns: Gross margin measured 61.365% and operating margin 42.486%; EBIT margin at 44.365% sits above the industry peer mean (36.752%) and above the industry peer high (41.643%), indicating superior margin delivery versus the peer range. Return on equity equals 21.466% and return on assets 7.828%—both show positive operating leverage and ROE above the industry peer mean (13.518%).
Cash, leverage, and liquidity: Cash and short-term investments total $4.902 billion and cash equals $1.649842 billion, supporting liquidity ratios: current ratio 2.876 and quick ratio 2.029. Net debt stands at $4.237573 billion with debt-to-EBITDA approximately 3.57 and interest coverage near 22.15x, indicating manageable leverage relative to operating earnings and strong interest coverage.
Capital allocation and cash flow: Free cash flow totals $817,142,000 with free cash flow yield about 0.294% and free cash flow growth YoY at 310.5%; free cash to net income equals 59.95%, showing substantial cash conversion. Dividend payout ratio around 22.40% and dividend coverage 4.46x reflect continued distribution capacity.
Valuation context: WMDST values the stock as over-valued. Market multiples show elevated investor expectations: trailing PE ~202.25x (industry peer mean ~181.89x), price-to-book ~43.71x (industry peer mean ~24.51x), and price-to-sales ~75.88x (industry peer mean ~56.12x). Forward metrics remain stretched—forward PE ~123.55x and forward PS ~193.34—supporting the WMDST over-valuation conclusion given current earnings and cash-flow levels versus market price.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-28 |
| NEXT REPORT DATE: | 2026-10-27 |
| CASH FLOW | Begin Period Cash Flow | $ 1.8 B |
| Operating Cash Flow | $ 774.1 M | |
| Capital Expenditures | $ -89.29 M | |
| Change In Working Capital | $ -748.73 M | |
| Dividends Paid | $ -305.33 M | |
| Cash Flow Delta | $ -137.17 M | |
| End Period Cash Flow | $ 1.6 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 3.7 B | |
| Forward Revenue | $ 1.4 B | |
| COSTS | ||
| Cost Of Revenue | $ 1.4 B | |
| Depreciation | $ 98.6 M | |
| Depreciation and Amortization | $ 98.6 M | |
| Research and Development | $ 399.0 M | |
| Total Operating Expenses | $ 2.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 2.2 B | |
| EBITDA | $ 1.7 B | |
| EBIT | $ 1.6 B | |
| Operating Income | $ 1.6 B | |
| Interest Income | $ 177.1 M | |
| Interest Expense | $ 73.3 M | |
| Net Interest Income | $ 103.8 M | |
| Income Before Tax | $ 1.5 B | |
| Tax Provision | $ 186.3 M | |
| Tax Rate | 12.026 % | |
| Net Income | $ 1.4 B | |
| Net Income From Continuing Operations | $ 1.4 B | |
| EARNINGS | ||
| EPS Estimate | $ 1.00 | |
| EPS Actual | $ 1.05 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 5.0 % | |
| Forward EPS | $ 1.64 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 18.0 B | |
| Intangible Assets | $ 2.0 B | |
| Net Tangible Assets | $ 4.3 B | |
| Total Current Assets | $ 12.4 B | |
| Cash and Short-Term Investments | $ 4.9 B | |
| Cash | $ 1.6 B | |
| Net Receivables | $ 2.9 B | |
| Inventory | $ 3.6 B | |
| Long-Term Investments | $ 175.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 623.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 4.3 B | |
| Net Debt | $ 4.2 B | |
| Total Debt | $ 6.2 B | |
| Total Liabilities | $ 11.6 B | |
| EQUITY | ||
| Total Equity | $ 6.3 B | |
| Retained Earnings | $ 3.7 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 4.86 | |
| Shares Outstanding | 1.307 B | |
| Revenue Per-Share | $ 2.80 | |
| VALUATION | Market Capitalization | $ 277.6 B |
| Enterprise Value | $ 278.8 B | |
| Enterprise Multiple | 161.974 | |
| Enterprise Multiple QoQ | 23.905 % | |
| Enterprise Multiple YoY | 108.326 % | |
| Enterprise Multiple IPRWA | high: 204.721 KLAC: 161.974 median: 146.579 mean: 146.536 low: -293.876 |
|
| EV/R | 76.226 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.827 | |
| Asset To Liability | 1.547 | |
| Debt To Capital | 0.492 | |
| Debt To Assets | 0.343 | |
| Debt To Assets QoQ | -5.909 % | |
| Debt To Assets YoY | -9.562 % | |
| Debt To Assets IPRWA | high: 0.423 KLAC: 0.343 median: 0.159 mean: 0.114 low: 0.002 |
|
| Debt To Equity | 0.969 | |
| Debt To Equity QoQ | -8.083 % | |
| Debt To Equity YoY | -25.331 % | |
| Debt To Equity IPRWA | high: 1.213 KLAC: 0.969 median: 0.299 mean: 0.216 low: -0.075 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 43.71 | |
| Price To Book QoQ | 23.608 % | |
| Price To Book YoY | 78.525 % | |
| Price To Book IPRWA | KLAC: 43.71 high: 31.988 median: 29.291 mean: 24.512 low: -9.2 |
|
| Price To Earnings (P/E) | 202.248 | |
| Price To Earnings QoQ | 20.864 % | |
| Price To Earnings YoY | 123.106 % | |
| Price To Earnings IPRWA | high: 234.604 KLAC: 202.248 mean: 181.889 median: 175.276 low: -129.292 |
|
| PE/G Ratio | 17.283 | |
| Price To Sales (P/S) | 75.884 | |
| Price To Sales QoQ | 25.693 % | |
| Price To Sales YoY | 109.69 % | |
| Price To Sales IPRWA | KLAC: 75.884 high: 68.545 median: 59.344 mean: 56.124 low: 6.505 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 123.552 | |
| Forward PE/G | 10.558 | |
| Forward P/S | 193.341 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 1.283 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.21 | |
| Asset Turnover Ratio QoQ | 3.31 % | |
| Asset Turnover Ratio YoY | 3.402 % | |
| Asset Turnover Ratio IPRWA | high: 0.342 mean: 0.224 KLAC: 0.21 median: 0.203 low: 0.004 |
|
| Receivables Turnover | 1.408 | |
| Receivables Turnover Ratio QoQ | -9.719 % | |
| Receivables Turnover Ratio YoY | -1.869 % | |
| Receivables Turnover Ratio IPRWA | high: 1.831 mean: 1.481 median: 1.419 KLAC: 1.408 low: 0.659 |
|
| Inventory Turnover | 0.399 | |
| Inventory Turnover Ratio QoQ | 0.939 % | |
| Inventory Turnover Ratio YoY | 5.193 % | |
| Inventory Turnover Ratio IPRWA | high: 2.21 median: 0.642 mean: 0.594 KLAC: 0.399 low: 0.148 |
|
| Days Sales Outstanding (DSO) | 64.787 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 269.15 | |
| Cash Conversion Cycle Days QoQ | 1.215 % | |
| Cash Conversion Cycle Days YoY | -2.567 % | |
| Cash Conversion Cycle Days IPRWA | high: 554.83 KLAC: 269.15 mean: 223.981 median: 170.295 low: 40.819 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.453 | |
| CapEx To Revenue | -0.024 | |
| CapEx To Depreciation | -0.905 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 12.2 B | |
| Net Invested Capital | $ 12.2 B | |
| Invested Capital | $ 12.2 B | |
| Net Tangible Assets | $ 4.3 B | |
| Net Working Capital | $ 8.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.139 | |
| Current Ratio | 2.876 | |
| Current Ratio QoQ | -4.94 % | |
| Current Ratio YoY | 9.84 % | |
| Current Ratio IPRWA | high: 10.33 KLAC: 2.876 median: 2.508 mean: 2.152 low: 1.334 |
|
| Quick Ratio | 2.029 | |
| Quick Ratio QoQ | -3.833 % | |
| Quick Ratio YoY | 10.713 % | |
| Quick Ratio IPRWA | high: 8.33 KLAC: 2.029 median: 1.804 mean: 1.512 low: 0.804 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 3.574 | |
| Cost Of Debt | 0.975 % | |
| Interest Coverage Ratio | 22.145 | |
| Interest Coverage Ratio QoQ | 4.864 % | |
| Interest Coverage Ratio YoY | 15.51 % | |
| Interest Coverage Ratio IPRWA | high: 1138.0 median: 75.705 mean: 63.683 KLAC: 22.145 low: -444.6 |
|
| Operating Cash Flow Ratio | 0.18 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 39.13 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.464 | |
| Dividend Payout Ratio | 0.224 | |
| Dividend Rate | $ 0.23 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.389 % | |
| Revenue Growth | 7.1 % | |
| Revenue Growth QoQ | 98.49 % | |
| Revenue Growth YoY | 94.681 % | |
| Revenue Growth IPRWA | high: 36.183 % median: 12.659 % mean: 10.302 % KLAC: 7.1 % low: -6.721 % |
|
| Earnings Growth | 11.702 % | |
| Earnings Growth QoQ | 88.286 % | |
| Earnings Growth YoY | 1.457 % | |
| Earnings Growth IPRWA | high: 126.667 % median: 20.168 % mean: 15.874 % KLAC: 11.702 % low: -31.148 % |
|
| MARGINS | ||
| Gross Margin | 61.365 % | |
| Gross Margin QoQ | 0.396 % | |
| Gross Margin YoY | -0.979 % | |
| Gross Margin IPRWA | high: 85.054 % KLAC: 61.365 % mean: 52.086 % median: 51.75 % low: 13.903 % |
|
| EBIT Margin | 44.365 % | |
| EBIT Margin QoQ | 1.876 % | |
| EBIT Margin YoY | 0.466 % | |
| EBIT Margin IPRWA | KLAC: 44.365 % high: 41.643 % median: 37.057 % mean: 36.752 % low: -55.266 % |
|
| Return On Sales (ROS) | 42.486 % | |
| Return On Sales QoQ | 3.084 % | |
| Return On Sales YoY | -0.218 % | |
| Return On Sales IPRWA | KLAC: 42.486 % high: 37.391 % median: 37.057 % mean: 34.477 % low: -48.45 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 817.1 M | |
| Free Cash Flow Yield | 0.294 % | |
| Free Cash Flow Yield QoQ | -2.649 % | |
| Free Cash Flow Yield YoY | -68.216 % | |
| Free Cash Flow Yield IPRWA | high: 0.775 % median: 0.318 % KLAC: 0.294 % mean: 0.221 % low: -1.49 % |
|
| Free Cash Growth | 31.318 % | |
| Free Cash Growth QoQ | -161.78 % | |
| Free Cash Growth YoY | 310.513 % | |
| Free Cash Growth IPRWA | high: 185.89 % median: 56.632 % KLAC: 31.318 % mean: 10.191 % low: -217.099 % |
|
| Free Cash To Net Income | 0.599 | |
| Cash Flow Margin | 21.164 % | |
| Cash Flow To Earnings | 0.568 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 7.828 % | |
| Return On Assets QoQ | 9.483 % | |
| Return On Assets YoY | 1.702 % | |
| Return On Assets IPRWA | high: 10.276 % KLAC: 7.828 % median: 7.201 % mean: 7.126 % low: -7.716 % |
|
| Return On Capital Employed (ROCE) | 11.891 % | |
| Return On Equity (ROE) | 0.215 | |
| Return On Equity QoQ | 4.214 % | |
| Return On Equity YoY | -16.26 % | |
| Return On Equity IPRWA | high: 0.279 KLAC: 0.215 mean: 0.135 median: 0.134 low: -0.171 |
|
| DuPont ROE | 22.381 % | |
| Return On Invested Capital (ROIC) | 11.665 % | |
| Return On Invested Capital QoQ | 8.421 % | |
| Return On Invested Capital YoY | -2.775 % | |
| Return On Invested Capital IPRWA | high: 14.252 % KLAC: 11.665 % median: 11.037 % mean: 10.964 % low: -11.245 % |
|