Stock Analysis on Net
Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

Common-Size Balance Sheet: Assets

KLA Corp., common-size consolidated balance sheet: assets

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Jun 30, 2026 Jun 30, 2025 Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021
Cash and cash equivalents 9.19 12.94 12.81 13.70 12.58 13.97
Marketable securities 18.12 15.03 16.37 9.35 8.92 10.32
Accounts receivable, net 16.09 14.09 11.88 12.46 14.38 12.71
Inventories 20.32 19.99 19.66 20.44 17.04 15.34
Deferred costs of revenues 1.43 1.39 1.81 0.95 0.99 0.58
Prepaid expenses 1.25 1.25 0.81 0.86 0.86 0.75
Prepaid income and other taxes 0.94 0.40 0.66 0.46 0.71 0.67
Contract assets 0.73 0.65 0.45 0.83 0.91 0.89
Other current assets 0.89 0.83 0.54 0.44 0.51 0.24
Other current assets 5.25% 4.53% 4.27% 3.54% 3.99% 3.12%
Current assets 68.97% 66.58% 65.00% 59.49% 56.91% 55.46%
Land, property and equipment, net 7.69 7.80 7.19 7.33 6.75 6.46
Goodwill, net 9.96 11.15 13.06 16.19 18.42 19.58
Deferred income taxes 5.78 6.88 5.93 5.80 4.60 2.63
Purchased intangible assets, net 1.43 2.77 4.33 6.65 9.48 11.54
Executive Deferred Savings Plan (EDSP) assets 2.32 2.18 1.97 1.83 1.78 2.59
Operating lease ROU assets 1.87 1.68 1.50 1.48 1.00 1.00
Long-term accounts receivable, net 1.01 0.00 0.00 0.00 0.00 0.00
Other non-current assets 0.98 0.96 1.02 1.22 1.06 0.74
Other non-current assets 6.17% 4.81% 4.49% 4.53% 3.85% 4.33%
Non-current assets 31.03% 33.42% 35.00% 40.51% 43.09% 44.54%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2026-06-30), 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).

The asset composition demonstrates a structural shift from long-term, intangible-heavy assets toward current assets, resulting in a significantly more liquid balance sheet over the analyzed period.

Liquidity and Current Asset Composition
Current assets have expanded consistently from 55.46% of total assets in 2021 to 68.97% in 2026. A primary driver of this trend is the increase in marketable securities, which grew from 10.32% to 18.12%. Conversely, cash and cash equivalents remained relatively stable between 12% and 14% for five years before declining to 9.19% in 2026, suggesting a strategic reallocation of liquid holdings into investment securities.
Working Capital Dynamics
There is a visible upward trend in the proportion of assets tied up in operations. Inventories increased from 15.34% in 2021 to 20.32% in 2026, indicating a higher concentration of value in unsold goods. Similarly, net accounts receivable rose from 12.71% to 16.09%, reflecting an increase in credit extended to customers relative to the total asset base.
Intangible Asset Attrition
Non-current assets have decreased from 44.54% to 31.03% of total assets. This contraction is most pronounced in intangible categories: goodwill declined from 19.58% to 9.96%, and purchased intangible assets saw a sharp reduction from 11.54% to 1.43%. This trend suggests significant amortization or a dilution effect caused by the growth of current assets.
Fixed and Other Non-Current Assets
Land, property, and equipment have remained relatively stable, fluctuating slightly between 6.46% and 7.80%, indicating that physical capacity expansion has kept pace with the overall growth of the balance sheet. Deferred income taxes showed an increasing trend from 2.63% in 2021 to a peak of 6.88% in 2025, before moderating to 5.78% in 2026.

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