Stock Analysis on Net
Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

KLA Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Jun 30, 2025 Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020
Accounts payable 2.85 2.33 2.64 3.52 3.33 2.85
Deferred system revenue 5.08 6.39 4.63 3.98 2.87 3.62
Deferred service revenue 3.41 3.25 2.96 3.03 2.77 2.52
Short-term debt 0.00 0.00 0.00 0.00 0.19 0.00
Current portion of long-term debt 0.00 4.86 0.00 0.00 0.00 0.00
Customer deposits 3.96 4.18 5.46 3.13 0.00 0.00
Compensation and benefits 2.60 2.41 2.63 2.79 2.97 2.71
Executive Deferred Savings Plan (EDSP) 2.18 1.96 1.83 1.79 2.61 2.32
Income taxes payable 1.04 0.95 2.72 1.01 0.85 0.38
Interest payable 0.68 0.83 0.75 0.32 0.35 0.39
Current operating lease liabilities 0.28 0.24 0.24 0.26 0.31 0.31
Other liabilities and accrued expenses 3.33 2.79 2.72 2.97 4.20 3.21
Other current liabilities 14.08% 13.37% 16.37% 12.27% 11.30% 9.33%
Current liabilities 25.43% 30.20% 26.60% 22.79% 20.48% 18.32%
Long-term debt, excluding current portion 36.62 38.10 41.86 52.88 33.32 37.39
Deferred tax liabilities 2.78 3.15 3.76 5.23 6.33 7.12
Deferred service revenue 2.17 1.91 1.26 0.99 0.85 1.04
Income taxes payable 1.38 1.89 2.29 2.91 3.25 4.13
Non-current operating lease liabilities 0.99 0.99 0.98 0.65 0.69 0.76
Pension liabilities 0.32 0.34 0.45 0.62 0.85 0.85
Customer deposits 0.04 0.65 1.11 1.63 0.00 0.00
Other non-current liabilities 1.06 0.95 0.94 1.20 1.35 1.50
Other non-current liabilities 3.79% 4.81% 5.78% 7.01% 6.15% 7.24%
Non-current liabilities 45.37% 47.98% 52.65% 66.10% 46.66% 52.79%
Total liabilities 70.80% 78.18% 79.25% 88.89% 67.13% 71.11%
Preferred stock, $0.001 par value, none outstanding 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.001 par value 0.00 0.00 0.00 0.00 0.00 0.00
Capital in excess of par value 15.63 14.77 14.98 8.43 21.18 22.52
Retained earnings 13.56 7.37 6.03 2.91 12.43 7.06
Accumulated other comprehensive income (loss) 0.01 -0.32 -0.26 -0.22 -0.74 -0.86
Total KLA stockholders’ equity 29.20% 21.82% 20.75% 11.12% 32.88% 28.72%
Non-controlling interest in consolidated subsidiaries 0.00 0.00 0.00 -0.02 -0.02 0.17
Total stockholders’ equity 29.20% 21.82% 20.75% 11.11% 32.87% 28.89%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Current liabilities
Current liabilities as a percentage of total liabilities and stockholders’ equity showed an upward trend from 18.32% in 2020 to a peak of 30.2% in 2024, followed by a decline to 25.43% in 2025. This indicates a general increase in short-term obligations relative to the company's capital structure over the period, with some easing in the most recent year.
Accounts payable
Accounts payable increased gradually from 2.85% in 2020 to 3.52% in 2022, then declined to 2.33% in 2024 before rising again to 2.85% in 2025. This pattern suggests some variability but relative stability overall in the company's payment obligations to suppliers.
Deferred system and service revenues
Deferred system revenue exhibited significant growth, rising from 3.62% in 2020 to a high of 6.39% in 2024 before moderating to 5.08% in 2025. Deferred service revenue also increased steadily from 2.52% to 3.41% over the six-year period. These increases point to growth in unearned revenue, potentially reflecting increased prepayments or contract liabilities.
Debt structure
Long-term debt (excluding current portion) showed considerable fluctuations, decreasing from 37.39% in 2020 to 33.32% in 2021, then spiking to 52.88% in 2022, before declining steadily to 36.62% by 2025. The current portion of long-term debt appeared only in 2024 at 4.86%, indicating some reclassification or new debt maturing within a year. Short-term debt presence was minimal and sporadic. Overall, the data reflect a shifting debt maturity profile over the years.
Customer deposits
Customer deposits as a portion of total liabilities peaked in 2023 (5.46%) and generally decreased thereafter, falling sharply in the non-current category down to 0.04% by 2025. This decline may indicate reduced advance payments or changes in contract terms with customers.
Compensation and benefits liabilities
These liabilities decreased modestly from 2.71% in 2020 to 2.41% in 2024, with a slight increase to 2.6% in 2025. This suggests relative stability in accrued employee-related obligations over time.
Income taxes payable
Income taxes payable relative to total liabilities and equity showed variability; short-term taxes payable surged notably in 2023 to 2.72% but decreased thereafter, while long-term income tax liabilities declined consistently from 4.13% in 2020 to 1.38% in 2025. This may reflect timing differences in tax payments and adjustments in deferred tax positions.
Deferred tax liabilities
Deferred tax liabilities steadily decreased from 7.12% in 2020 to 2.78% in 2025, indicating a reduction in deferred tax obligations over the period.
Lease liabilities
Current operating lease liabilities maintained a small and relatively stable share around 0.24–0.31%, while non-current lease liabilities fluctuated mildly, increasing from 0.76% to around 0.99%, reflecting consistent but minor lease obligations.
Other liabilities and accrued expenses
Other liabilities first rose from 3.21% to 4.2% in 2021, then generally declined with some fluctuations, ending at 3.33% in 2025. Similarly, other current liabilities increased from 9.33% to a high of 16.37% in 2023 before decreasing slightly. The non-current other liabilities trended downward overall from 7.24% to 3.79%, implying some deleveraging or reclassification efforts within other liabilities categories.
Total liabilities
Total liabilities as a percent of total financing showed a marked increase from 71.11% in 2020 to 88.89% in 2022, then steadily declined to 70.8% in 2025. This suggests a peak leverage position in 2022 with a subsequent reduction in reliance on liabilities.
Stockholders’ equity components
Stockholders’ equity demonstrated volatility; total equity dropped sharply from 28.89% in 2020 to 11.11% in 2022 before recovering to 29.2% by 2025. Capital in excess of par value declined significantly in 2022 but rebounded in subsequent years. Retained earnings fluctuated with a low of 2.91% in 2022 and a strong recovery to 13.56% in 2025. The accumulated other comprehensive income improved from negative values to slightly positive by 2025. This pattern points to a temporary deterioration in equity position around 2022 with robust recovery thereafter.
Overall capital structure
Over the six-year span, the company exhibited fluctuating leverage with a peak in total liabilities in 2022, corresponding to a trough in equity proportions. Post-2022, there is a clear trend toward deleveraging and strengthening of equity, improving the balance between liabilities and stockholders’ equity. The increasing deferred revenues and shifting debt maturities suggest evolving operational and financing strategies. Employee-related and lease liabilities remained relatively stable, while significant changes in deferred tax liabilities and other non-current liabilities contributed to the overall financial dynamics.