KLA Corporation (KLAC) Stock

KLA Corporation (KLAC) is a Technology stock trading at $229.43 (as of 2026-07-09), with a market capitalization of $299.70B and a trailing P/E of 65.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for semiconductor and related electronics manufacturers. It operates through four segments (including Semiconductor Process Control and Specialty Semiconductor Process) and provides inspection, metrology, in situ process management, associated software, and refurbished products for IC manufacturing.

Understand KLA Corporation: how it makes money

KLA Corporation designs, manufactures, and markets process control, process-enabling, and yield management solutions for semiconductor and related electronics manufacturers, and it makes money by selling inspection and metrology products and also providing services.

A meaningful share of KLA's profit model comes from selling process control and yield management equipment, then monetizing that installed base through services (services revenue and services installs are tracked).

Business quality (Exceptional): KLA has very high profitability in the quarter provided, and its solution set includes multiple inspection and metrology workflows plus services, but reported operating performance can be sensitive to shifts across customer types within semiconductor process control and to how consistently customers use services.

Valuation: At 7× earnings, KLAC trades 88% below the Measuring & Control Equipment average (60×). Note: one-time items can distort reported P/E.

Bull case

  • High operating profitability: For the quarter ended 2026-03-31, gross margin was 61.1% and operating margin was 41.5%.
  • Integrated inspection and metrology coverage: KLA offers product capabilities spanning wafer inspection and review and metrology, wafer and substrate defect inspection and metrology, reticle defect inspection and metrology, and chemical/materials quality analysis.
  • Services component is explicitly tracked: KLA tracks both services revenue and services installs (record), indicating a recurring element alongside system sales.

Bear case

  • Customer-type mix can shift: Semiconductor process control mix is 63% Foundry Logic, 26% DRAM, and 11% NAND, so changes in that mix could affect results across the semiconductor process control business.
  • Services performance depends on ongoing usage: Services revenue and services installs (record) suggest part of earnings depends on continued service activity for installed systems; reduced service demand could pressure that revenue stream.
Valuation — source: SEC EDGAR (first-party)
Price$229.43
Market Cap$299.70B
P/E Ratio65.8
EV / EBITDA48.9
Price / Book51.40
Price / Sales23.08
FCF Yield3.0%
DCF Value (model)$380.20
DCF Upside vs Price65.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$12.16B
Net Margin33.4%
Revenue Growth (YoY)11.5%
EPS Growth (YoY)11.7%
FCF Growth (YoY)10.0%
Financial Health — source: SEC EDGAR
Altman Z-Score3.99 (safe)
Piotroski F-Score9/9 (strong)
Valuation vs Sector & Industry
Stock P/E65.8
Sector P/E (Technology)33.6
Industry P/E (Measuring & Control Equipment)58.0
vs Sector95.7%
vs Industry13.4%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($18.55B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorTechnology
IndustryMeasuring & Control Equipment
CEORichard Wallace
Employees15,000
CountryUS
IPO Date1980-10-08

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KLAC earnings history · KLAC institutional & insider holders · KLAC KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-09.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.