Common-Size Balance Sheet: Assets
Quarterly Data
KLA Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-09-30), 10-K (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-Q (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30).
A structural shift in the asset composition is evident, characterized by a steady increase in the proportion of current assets relative to non-current assets. Total current assets grew from 51.02% of total assets in September 2020 to 68.32% by September 2026, indicating a transition toward a more liquid balance sheet profile.
- Current Asset Composition
- Inventories exhibit the most significant upward trend among current assets, rising from 14.96% in September 2020 to 22.22% in September 2026. This suggests a growing allocation of capital toward stock levels. Marketable securities also show a notable increase, particularly from 2024 onward, peaking at 18.79% in December 2025 before settling at 17.44% in September 2026. Conversely, cash and cash equivalents remained relatively stable for several years but experienced a decline in the final periods, dropping to 8.32% by September 2026.
- Intangible and Goodwill Erosion
- There is a pronounced downward trend in the weight of non-physical assets. Goodwill decreased from 21.95% in September 2020 to 9.72% by September 2026. More dramatically, purchased intangible assets fell from 14.39% to 1.16% over the same period, reflecting consistent amortization and a diminishing impact of historical acquisitions on the total asset base.
- Fixed and Other Non-Current Assets
- Land, property, and equipment, net, maintained a relatively stable presence, though a gradual increase is observed, moving from 6.03% in September 2020 to 8.37% in September 2026. Deferred income taxes showed a general increase from 2.64% to a peak of 6.93% in September 2025, before ending at 5.73% in September 2026. Other non-current assets also saw a moderate increase, rising from 3.99% to 6.70% over the analyzed timeframe.
Overall, the balance sheet has evolved from one heavily weighted toward intangible assets and goodwill to one dominated by working capital, specifically inventories and marketable securities. This represents a fundamental migration from long-term, non-physical asset valuations toward short-term operational and liquid assets.
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