Analysis of Investments
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- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities
KLA Corp., adjustment to net income attributable to KLA
US$ in thousands
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).
The financial data presents reported and adjusted net income attributable to KLA Corp. over six consecutive fiscal years ending June 30, from 2020 to 2025.
- Reported Net Income
- The reported net income shows a generally upward trajectory from 2020 through 2025, beginning at approximately $1.22 billion in 2020 and reaching over $4.06 billion in 2025. There is a notable increase between 2020 and 2021, where net income rises by about 70.8%. The upward trend continues through 2022 and 2023 with robust growth, peaking in 2023 at around $3.39 billion. However, there is a decline in 2024, where net income decreases by approximately 18.4% compared to 2023. Subsequently, the net income rebounds sharply in 2025, increasing by nearly 47% from the prior year.
- Adjusted Net Income
- The adjusted net income closely mirrors the trend observed in the reported net income figures, starting at about $1.22 billion in 2020 and reaching approximately $4.07 billion in 2025. The adjustments seem minimal, as values are consistently slightly higher than the reported figures by a small margin across all years. This indicates that the adjustments do not significantly alter the overall net income trend. The pattern of growth, slight dip in 2024, and recovery in 2025 is consistent with the reported net income.
Overall, the data depicts strong profitability growth over the six-year period with a temporary decline in the fifth year, followed by a significant recovery. The minimal difference between reported and adjusted net incomes suggests the adjustments have limited impact on the income figures, implying stable financial reporting quality and consistency in earnings recognition.
Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)
KLA Corp., adjusted profitability ratios
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).
- Net Profit Margin
- The net profit margin demonstrated a general upward trend from 20.96% in 2020 to a peak of 36.06% in 2022. Subsequently, it declined to 28.15% in 2024 before rising again to 33.41% in 2025. The adjusted net profit margin closely mirrored the reported figures, indicating consistency between reported and adjusted results with only minor variations.
- Return on Equity (ROE)
- ROE exhibited significant volatility over the period analyzed. Starting at 45.65% in 2020, it surged dramatically to 237.04% in 2022, before declining drastically to 82.00% in 2024 and slightly improving to 86.56% in 2025. The adjusted ROE values followed an almost identical pattern to the reported ROE, suggesting stable adjustment practices.
- Return on Assets (ROA)
- ROA increased steadily from 13.11% in 2020 to a high of 26.37% in 2022. Afterward, it decreased to 17.90% in 2024 but showed recovery to 25.28% in 2025. The adjusted ROA values tracked closely with the reported figures, indicating minor discrepancies between reported and adjusted data.
- Overall Trends and Insights
- Performance metrics such as net profit margin, ROE, and ROA peaked around 2022, indicating a period of strong profitability and efficiency. However, all metrics experienced a noticeable decline in 2024, before partial recovery in 2025. The close alignment between reported and adjusted figures across all indicators suggests reliability and consistency in financial reporting and adjustment methodologies. The sharp spike and subsequent decrease in ROE warrant further examination, possibly reflecting extraordinary items or changes in equity structure during the period.
KLA Corp., Profitability Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).
2025 Calculations
1 Net profit margin = 100 × Net income attributable to KLA ÷ Revenues
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to KLA ÷ Revenues
= 100 × ÷ =
- Net Income Trends
- The reported net income attributable to the company shows a consistent upward trend across the time periods, starting from approximately 1.22 billion USD in mid-2020 and reaching over 4.06 billion USD by mid-2025. An increase is observed each year except for the period between mid-2023 and mid-2024, where there is a noticeable decline from about 3.39 billion USD to approximately 2.76 billion USD. The adjusted net income follows a very similar pattern, indicating that adjustments made to the reported figures do not substantially alter the overall income trend.
- Net Profit Margin Trends
- The reported net profit margin exhibits growth from around 21.0% in mid-2020 to a peak near 36.1% in mid-2022, reflecting improved profitability during this period. After this peak, the margin declines to about 28.15% by mid-2024 before recovering moderately to 33.41% by mid-2025. The adjusted net profit margin closely mirrors the reported margin, suggesting that the adjustments do not significantly affect the margin profile.
- Comparison Between Reported and Adjusted Data
- The adjusted net income and net profit margins are consistently close to the reported figures throughout the entire period. This consistency implies that adjustments, possibly related to investment considerations or extraordinary items, have minimal impact on the underlying profitability and income metrics, suggesting stable core operating performance.
- Overall Insights
- Overall, the data indicates strong and generally increasing profitability over the five-year span with a temporary dip in both net income and profit margin around mid-2024. The recovery in the final year suggests resilience in the company's earnings capacity. The close alignment between reported and adjusted figures reflects reliable financial reporting and stable operational results without major distortions from extraordinary or nonrecurring items.
Adjusted Return on Equity (ROE)
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).
2025 Calculations
1 ROE = 100 × Net income attributable to KLA ÷ Total KLA stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to KLA ÷ Total KLA stockholders’ equity
= 100 × ÷ =
The financial data reveals significant trends in both reported and adjusted net income attributable to the company, as well as corresponding returns on equity (ROE) over the six-year period ending in 2025.
- Net Income Trends
- The reported net income shows a consistent upward trajectory from 1,216,785 thousand US dollars in June 2020 to a peak of 3,387,277 thousand US dollars in June 2023. This is followed by a decline to 2,761,896 thousand US dollars in June 2024, and then a substantial recovery to 4,061,643 thousand US dollars by June 2025. The adjusted net income follows a nearly identical pattern, with very slight differences in values, indicating that adjustments have a marginal impact on net income figures but do not alter the overall trend.
- Return on Equity (ROE) Trends
- The reported ROE exhibits considerable volatility. It begins at 45.65% in 2020 and increases to a high of 237.04% in 2022, reflecting an exceptionally strong return relative to shareholder equity that year. However, this figure declines sharply to 116.01% in 2023, further softening to 82% in 2024, before rising modestly to 86.56% in 2025. Adjusted ROE values parallel the reported figures closely, displaying the same pattern of rapid increase followed by decline and slight recovery, with minimal divergence between the two measures.
- Analysis of Patterns and Implications
- The dramatic spike in ROE in 2022, coupled with the substantial increase in net income during the same period, suggests an extraordinary event or operational efficiency that greatly enhanced profitability relative to equity. The subsequent decline in both net income and ROE levels through 2024 indicates a normalization or possible external factors affecting performance. The rebound observed in 2025 points to a recovery phase, potentially driven by renewed growth or improved operational conditions.
- The close alignment between reported and adjusted figures suggests that adjustments made to income and ROE do not materially affect the overall financial performance narrative. This indicates stability in accounting practices and consistency in financial reporting.
Adjusted Return on Assets (ROA)
Based on: 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30).
2025 Calculations
1 ROA = 100 × Net income attributable to KLA ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to KLA ÷ Total assets
= 100 × ÷ =
- Net Income Trends
- The reported net income attributable to the company showed a strong upward trajectory from 1,216,785 thousand US dollars in mid-2020 to a peak of 3,387,277 thousand US dollars in mid-2023. Thereafter, it experienced a decline to 2,761,896 thousand US dollars in mid-2024, followed by a substantial recovery reaching 4,061,643 thousand US dollars by mid-2025. The adjusted net income mirrored a nearly identical pattern with marginal deviations, indicating consistent accounting adjustments over the periods.
- Return on Assets (ROA) Trends
- Reported ROA exhibited an overall increasing trend from 13.11% in mid-2020, peaking at 26.37% in mid-2022, before declining to 17.9% by mid-2024. This was followed by a notable rebound to 25.28% in mid-2025. Adjusted ROA values followed the same general pattern, maintaining slight differences from reported ROA, which suggests stable adjustments in asset performance assessments.
- Analysis of Patterns and Insights
- The data reveals a strong growth phase in both net income and ROA until mid-2022 or mid-2023, suggesting improved profitability and asset utilization efficiency during these years. The subsequent dip in both net income and ROA around mid-2024 may indicate temporary challenges or market factors impacting financial performance. However, the sharp recovery in mid-2025 highlights the company’s ability to rebound and achieve higher profitability and optimal asset management. The close alignment between reported and adjusted figures throughout the periods suggests that adjustments made for investment considerations have minimal impact on the overall financial performance trends.