KLA Corp. (NASDAQ:KLAC)

Current Assets

The current assets exhibit a consistent upward trend over the analyzed periods. Starting at approximately 4.72 billion in mid-2020, they steadily increased each year, reaching around 10.7 billion by mid-2025. This reflects significant growth in the company's liquidity position and possibly indicates an expansion in operational scale or accumulation of short-term resources.

Adjusted Current Assets

Adjusted current assets follow a similar positive trajectory, closely mirroring the pattern seen in current assets. Beginning at approximately 4.74 billion in mid-2020, these values rise steadily to about 10.73 billion by mid-2025. The slight difference between adjusted and reported current assets is relatively stable, suggesting consistent adjustments applied across the periods without substantial variation.

Overall Analysis

The data reveals a strong and continuous improvement in asset liquidity. The nearly doubling of current assets over five years may be indicative of robust financial health and potentially enhanced operational efficiency. The consistency between reported and adjusted figures suggests reliable financial adjustments and stable accounting practices over time.

Total assets

The total assets of the company increased consistently over the six-year period, rising from approximately 9.28 billion USD in mid-2020 to around 16.07 billion USD by mid-2025. This steady growth indicates ongoing asset accumulation and expansion, with particularly notable increases between 2021 and 2022, as well as between 2022 and 2023.

Adjusted total assets

Adjusted total assets also showed a continuous upward trend, growing from about 9.05 billion USD in June 2020 to nearly 14.996 billion USD by mid-2025. The pattern closely mirrors that of total assets, though the adjusted values remain consistently slightly lower. This suggests that while the company’s asset base has expanded, certain adjustments—likely related to valuation or non-operational assets—have a measurable impact but do not alter the positive growth trajectory.

The analysis of the current liabilities for the company over the presented periods reveals a consistent upward trend from June 30, 2020, through June 30, 2024, followed by a decline in June 30, 2025.

Current Liabilities

The current liabilities increased significantly from approximately 1.7 billion US dollars in mid-2020 to about 4.66 billion US dollars by mid-2024. This represents a substantial rise over four years, nearly tripling in amount. However, in the following year ending June 30, 2025, current liabilities decreased to around 4.08 billion US dollars.

Adjusted Current Liabilities

Adjusted current liabilities also exhibited a clear growth pattern, starting at around 1.13 billion US dollars in mid-2020 and increasing steadily up to approximately 3.17 billion US dollars by mid-2024. Similar to the overall current liabilities, adjusted current liabilities declined in the year ending June 30, 2025, falling to about 2.72 billion US dollars.

The steady increase in both measures up to 2024 could indicate rising operational or financing needs. The adjustment in current liabilities may reflect refinements in the classification or accounting treatments of certain short-term obligations. The reduction in liabilities observed in the last period might suggest efforts to improve liquidity, repay short-term debts, or a change in business activity levels.

Total Liabilities

Total liabilities showed an overall increasing trend from June 30, 2020 to June 30, 2025, with fluctuations along the way. Starting at approximately 6.6 billion USD in 2020, liabilities increased modestly to around 6.9 billion USD in 2021. A significant jump occurred by 2022, with total liabilities reaching roughly 11.2 billion USD. This elevated level was maintained in 2023, with a slight decrease to about 11.15 billion USD. Subsequent years saw further variation, rising again to approximately 12.1 billion USD in 2024 before declining to approximately 11.4 billion USD in 2025. This pattern suggests periods of increased borrowing or obligations followed by some repayment or reclassification.

Adjusted Total Liabilities

Adjusted total liabilities also rose over the period but remained consistently below total liabilities, reflecting adjustments for certain items. Starting near 5.3 billion USD in 2020, they increased steadily to around 5.6 billion USD in 2021. Similar to total liabilities, a sharp rise occurred in 2022 to approximately 9.5 billion USD, followed by a slight contraction in the next year to around 9.4 billion USD. There was a modest increase again in 2024 to about 9.8 billion USD, before a decline to approximately 9.2 billion USD in 2025. These adjusted figures suggest a pattern of liabilities growth with some volatility, though the adjustments applied appear to moderate the absolute values relative to total liabilities.

Comparative Insights

The gap between total liabilities and adjusted total liabilities remains substantial throughout the periods, indicating material adjustments applied consistently. Both metrics follow a similar trajectory with substantial increases between 2021 and 2022, maintaining elevated levels thereafter. The fluctuations in later years may reflect ongoing liabilities management, repayment schedules, or accounting adjustments. The data implies a strategic balancing act in managing financial obligations, with sizeable leverage maintained over the observed time horizon.

Total KLA stockholders’ equity

The total stockholders' equity experienced notable fluctuations across the periods observed. From June 30, 2020, to June 30, 2021, there was a considerable increase from approximately 2.67 billion US dollars to 3.38 billion US dollars. This was followed by a sharp decline to around 1.40 billion US dollars as of June 30, 2022. Subsequently, the equity rebounded strongly to 2.92 billion in 2023 and continued an upward trajectory through 2024 and 2025, reaching approximately 4.69 billion US dollars by the end of the last reporting period. The trend suggests a period of volatility with a significant recovery and growth thereafter.

Adjusted total stockholders’ equity

The adjusted total stockholders' equity shows a similar pattern, with an initial increase from about 3.78 billion US dollars in 2020 to 4.44 billion in 2021, followed by a reduction to roughly 2.51 billion in 2022. From 2023 onwards, the adjusted equity steadily increased each year, reaching 3.91 billion, then 4.75 billion, and peaking at approximately 5.78 billion US dollars by 2025. The adjustment appears to smooth the equity values, yet the pattern of recovery and growth after 2022 remains evident, indicating strengthening financial position over the longer term.

Overall Insights

Both total and adjusted stockholders’ equity display a pronounced dip in 2022, which may reflect an unusual or transitional financial event during that period. Post-2022, the upward trend through 2023 to 2025 highlights a substantial improvement in equity levels, signaling positive developments in financial health, potential profitability, or capital management strategies. The adjusted figures consistently remain higher than the total reported equity, indicating adjustments that likely reflect more comprehensive considerations of the company's financial position.

Total Reported Debt

The total reported debt experienced a significant increase from June 2020 through June 2022, nearly doubling from approximately $3.47 billion to $6.66 billion. This was followed by a decrease in June 2023 to about $5.89 billion, a rebound in June 2024 to around $6.63 billion, and a subsequent decline in June 2025 to approximately $5.88 billion. The pattern indicates volatility with notable peaks in 2022 and 2024.

Total KLA Stockholders’ Equity

Stockholders' equity showed a generally increasing trend over the six-year period, starting at roughly $2.67 billion in 2020. It rose to about $3.38 billion by mid-2021, dipped sharply to approximately $1.40 billion in 2022, and then exhibited a steady recovery reaching $4.69 billion by 2025. The sharp dip in 2022 suggests a significant event impacting equity, but the subsequent recovery indicates strengthening financial position.

Total Reported Capital

Total reported capital consistently increased over the period, starting at about $6.14 billion in 2020 and reaching nearly $10.58 billion by 2025. The growth was steady without major reversals, reflecting an overall expansion in the company’s capital base despite fluctuations in debt and equity components.

Adjusted Total Debt

Adjusted total debt mirrored the pattern of total reported debt, increasing significantly from approximately $3.57 billion in 2020 to $6.77 billion in 2022. Following this, adjusted debt decreased to about $6.06 billion in 2023, increased again in 2024 to $6.82 billion, and then declined to roughly $6.09 billion in 2025. The fluctuations indicate adjustments that slightly alter the magnitude but maintain the overall trend of volatility.

Adjusted Total Stockholders’ Equity

The adjusted stockholders’ equity shows an upward trend with some volatility. Starting at about $3.78 billion in 2020, it increased to roughly $4.44 billion in 2021, then dropped sharply to approximately $2.51 billion in 2022. Afterward, equity rebounded and grew steadily to around $5.78 billion by 2025. This pattern reflects a similar trend as reported equity, indicating underlying adjustments but consistent recovery and growth over time.

Adjusted Total Capital

The adjusted total capital steadily increased from approximately $7.35 billion in 2020 to about $11.87 billion in 2025. The upward trend is consistent year-over-year, confirming growth in the company’s financial resources. The adjusted figures suggest an expansion in capital that accompanies the fluctuations observed in debt and equity, highlighting strengthening capital structure over time.

Revenue Trends

The revenues show a general upward trend over the observed period. Starting at approximately $5.81 billion in mid-2020, revenues increased steadily year-over-year, reaching about $10.50 billion by mid-2023. There was a slight decline in 2024 to approximately $9.81 billion, followed by a significant rebound to about $12.16 billion in 2025.

Adjusted Revenues Trends

Adjusted revenues exhibit a similar pattern to total revenues, starting around $5.88 billion in 2020 and increasing consistently each year up to $10.73 billion in 2023. A mild decrease is observed in 2024, dropping to roughly $10.35 billion, before recovering strongly to approximately $12.09 billion in 2025.

Comparative Insights Between Revenues and Adjusted Revenues

Adjusted revenues are marginally higher than reported revenues in each period, indicating potential adjustments for non-recurring items or other accounting considerations. Both metrics track closely, with similar growth rates and timing of fluctuations, suggesting consistency in revenue recognition and adjustment policies.

Year-over-Year Growth Patterns

Revenues and adjusted revenues both demonstrated strong growth from 2020 through 2023, reflecting positive performance and expansion. The slight dip in 2024 may indicate temporary market or operational challenges. The rebound in 2025 suggests a recovery or new growth initiatives taking effect.

The financial data over the six-year period reveals notable fluctuations in the net income attributable to the company and its adjusted net income. Both figures generally exhibit an upward trend with some variability in the growth pattern.

Net income attributable to the company

The net income shows substantial growth from 1,216,785 thousand USD in 2020 to 4,061,643 thousand USD in 2025. This represents a more than threefold increase over the period. A significant jump is observed between 2020 and 2022, where net income increased from approximately 1.2 million to over 3.3 million USD. The year 2023 continues the upward trend but at a much slower rate, followed by a noticeable decline in 2024 to around 2.76 million USD. The net income then rebounds sharply in 2025, reaching its highest value within the timeframe.

Adjusted net income

The adjusted net income follows a similar trajectory and remains close to the net income values for each year, indicating consistent adjustments relative to net income. Starting at roughly 1.19 million USD in 2020, it peaks at around 3.36 million USD in 2022, dips slightly in 2023, then declines further in 2024 to about 3.15 million USD before increasing again in 2025 to nearly 3.8 million USD. The smaller fluctuations compared to net income in some years may reflect adjustments aimed at smoothing one-time items or normalization of earnings.

Overall, the reported financial results demonstrate strong growth in profitability over the period, with a temporary setback in 2024 followed by robust recovery. The close alignment between net income and adjusted net income suggests that underlying business operations have remained fundamentally solid despite the year-to-year variations.