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, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Cash and cash equivalents 12.81 13.70 12.58 13.97 13.30 11.28
Marketable securities 16.37 9.35 8.92 10.32 8.04 8.03
Accounts receivable, net 11.88 12.46 14.38 12.71 11.93 10.99
Inventories 19.66 20.44 17.04 15.34 14.13 14.01
Deferred costs of revenue 1.81 0.95 0.99 0.58 0.83 0.79
Prepaid expenses 0.81 0.86 0.86 0.75 0.81 0.98
Prepaid income and other taxes 0.66 0.46 0.71 0.67 0.61 0.58
Contract assets 0.45 0.83 0.91 0.89 1.08 1.04
Other current assets 0.54 0.44 0.51 0.24 0.17 0.20
Other current assets 4.27% 3.54% 3.99% 3.12% 3.50% 3.59%
Current assets 65.00% 59.49% 56.91% 55.46% 50.90% 47.90%
Land, property and equipment, net 7.19 7.33 6.75 6.46 5.60 4.98
Goodwill, net 13.06 16.19 18.42 19.58 22.04 24.55
Deferred income taxes 5.93 5.80 4.60 2.63 2.55 2.29
Purchased intangible assets, net 4.33 6.65 9.48 11.54 14.99 17.32
Executive Deferred Savings Plan (EDSP) 1.97 1.83 1.78 2.59 2.30 2.30
Operating lease ROU assets 1.50 1.48 1.00 1.00 1.09 0.00
Other non-current assets 1.02 1.22 1.06 0.74 0.52 0.65
Other non-current assets 4.49% 4.53% 3.85% 4.33% 3.91% 2.95%
Non-current assets 35.00% 40.51% 43.09% 44.54% 49.10% 52.10%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2019-06-30).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets fluctuated modestly over the period, increasing from 11.28% in mid-2019 to a peak of 13.97% in mid-2021, then slightly declining to 12.81% by mid-2024.
Marketable securities
The share of marketable securities demonstrated an overall upward trend, notably rising from around 8% in 2019 and 2020 to 16.37% in mid-2024, indicating a growing allocation of assets toward marketable securities in recent years.
Accounts receivable, net
Accounts receivable as a percentage of total assets increased gradually from 10.99% in 2019 to a high of 14.38% in 2022, before decreasing to 11.88% in 2024, reflecting some variability in credit sales or collection efficiency.
Inventories
Inventories rose steadily from 14.01% of total assets in 2019 to a peak of 20.44% in 2023, with a slight reduction to 19.66% in 2024. This steady increase suggests a build-up in inventory levels over the period, potentially aligned with business expansion or supply chain dynamics.
Deferred costs of revenue
This item remained relatively minor but showed an increasing trend, rising from less than 1% in 2019 to 1.81% in 2024, reflecting possibly growing advances or costs related to revenue recognition.
Prepaid expenses
The portion attributed to prepaid expenses exhibited a slight decline from 0.98% in 2019 to around 0.81% in 2024, indicating relatively stable prepaid asset levels without major fluctuations.
Prepaid income and other taxes
Percentages were generally low and fairly stable, fluctuating between 0.46% and 0.71%, with no clear directional trend observed through the years.
Contract assets
Contract assets showed a decline from about 1.04% in 2019 to 0.45% in 2024, which may indicate reduced work-in-progress or changing contract terms over time.
Other current assets
Two entries for other current assets were presented, both showing modest amounts relative to total assets. One series increased slightly from 0.2% in 2019 to 0.54% in 2024, while the other hovered around 3.5% to 4.3%, suggesting a small but stable component of current assets in this category.
Current assets
The total current assets as a percentage of total assets increased significantly from 47.9% in 2019 to 65% in 2024, indicating a strategic shift towards a more liquid asset base over the analyzed period.
Land, property and equipment, net
This category showed a gradual increase from 4.98% in 2019 to a peak near 7.33% in 2023 before a slight decrease to 7.19% in 2024, suggesting steady investment in fixed assets.
Goodwill, net
A consistent downward trend was observed in goodwill, decreasing from 24.55% in 2019 to 13.06% in 2024, which may reflect amortization, impairment, or divestitures over time.
Deferred income taxes
Deferred income taxes as a proportion of total assets increased notably from 2.29% in 2019 to around 5.93% in 2024, indicating growing deferred tax balances on the balance sheet.
Purchased intangible assets, net
A marked decrease was evident in purchased intangible assets, declining from 17.32% in 2019 to 4.33% in 2024, paralleling the reduction in goodwill and suggesting diminishing intangible assets overall.
Executive Deferred Savings Plan (EDSP)
The allocation for EDSP stayed relatively stable, fluctuating narrowly around 1.78% to 2.59%, indicating a steady, minor portion of assets in this plan.
Operating lease Right-of-Use assets
This asset category emerged in 2020 at 1.09% and remained relatively stable around 1.0% to 1.5%, reflecting consistent recognition of leased assets.
Other non-current assets
Two lines of other non-current assets showed slight variances, with one increasing from 0.65% to 1.22% by 2023 and then slightly decreasing to 1.02%, and the other rising from 2.95% in 2019 to around 4.49% in 2024, indicating gradual growth in various non-current assets.
Non-current assets
The total non-current assets as a percentage of total assets declined from 52.1% in 2019 to 35% in 2024, reflecting a significant shift in the asset mix away from long-term assets toward current assets.
Overall asset composition
There is a clear trend toward increased liquidity, with current assets rising substantially as a share of total assets, while non-current assets and intangible assets declined. Notably, marketable securities more than doubled as a percentage of total assets by 2024, and goodwill and purchased intangibles contracted significantly, illustrating a strategic pivot in asset holdings.