KLA Corporation
ConvictionStrong
Capital-equipment + recurring service/software: sells inspection & metrology systems (~75-80% of rev) to chipmakers, then earns a high-margin, multi-year service annuity (install base growth 13-15% CAGR target) plus reticle/software.
Revenue
$3.415B Q3 FY26Mar-2026 qtr); $13.10B TTM; $12.16B FY25 [fact]Rev growth
+11.5% YoY Q3 FY26+13.4% TTM; +24% FY25 [fact]Gross margin
62.2% non-GAAP Q3 FY26~61.2% GAAP) [fact]Op margin
~42% non-GAAP / 41.5% GAAP Q3 FY26~43% FY25 [fact]Capex intensity
~2.8%capex ~$340M / $12.16B rev FY25) — asset-light [fact]Market cap
~$338B25 Jun 2026, post 10-for-1 split; price ~$259) [fact]Price · 1-year trend
real · weekly$221+141% 1yUSD
52-week range
$84 – $302
52w lowas of 2026-07-08 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityStrong
AI Compute Value-Chain
Full context
position · longModerate
AI Compute Value-Chain
Full context
book · long
AI Compute Value-Chain
Full context
opportunityStrong
Memory super-cycle monitor
Full context
position · longStrong
Memory super-cycle monitor
Full context
book · long
Memory super-cycle monitor
Full context
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2025-08-08. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’21
$6.9B
FY’22
$9.2B+33%
FY’23
$10.5B+14%
FY’24
$9.8B-7%
FY’25
$12.2B+24%
Margins & balance sheet — FY’25
Net margin33.4%
Net debt$4.1B
The read
Where our coverage leans
Bull & bear in tension
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Full financial intelligence for KLA Corporation
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence