Debt to Equity
since 2005
Calculation
KLA Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total KLA stockholders’ equity1 | |
|---|---|---|---|---|---|
| Jun 30, 2026 | 0.93 | = | 5,887,415) | ÷ | 6,349,820) |
| Jun 30, 2025 | 1.25 | = | 5,884,257) | ÷ | 4,692,453) |
| Jun 30, 2024 | 1.97 | = | 6,630,135) | ÷ | 3,368,328) |
| Jun 30, 2023 | 2.02 | = | 5,890,736) | ÷ | 2,919,753) |
| Jun 30, 2022 | 4.75 | = | 6,660,718) | ÷ | 1,401,351) |
| Jun 30, 2021 | 1.02 | = | 3,442,767) | ÷ | 3,377,554) |
| Jun 30, 2020 | 1.30 | = | 3,469,670) | ÷ | 2,665,424) |
| Jun 30, 2019 | 1.29 | = | 3,423,382) | ÷ | 2,659,108) |
| Jun 30, 2018 | 1.38 | = | 2,237,402) | ÷ | 1,620,511) |
| Jun 30, 2017 | 2.21 | = | 2,930,457) | ÷ | 1,326,417) |
| Jun 30, 2016 | 4.44 | = | 3,057,936) | ÷ | 689,114) |
| Jun 30, 2015 | 7.57 | = | 3,190,416) | ÷ | 421,439) |
| Jun 30, 2014 | 0.20 | = | 747,919) | ÷ | 3,669,346) |
| Jun 30, 2013 | 0.21 | = | 747,376) | ÷ | 3,482,152) |
| Jun 30, 2012 | 0.23 | = | 746,833) | ÷ | 3,315,595) |
| Jun 30, 2011 | 0.26 | = | 746,290) | ÷ | 2,860,893) |
| Jun 30, 2010 | 0.33 | = | 745,747) | ÷ | 2,246,611) |
| Jun 30, 2009 | 0.34 | = | 745,204) | ÷ | 2,184,392) |
| Jun 30, 2008 | 0.25 | = | 744,661) | ÷ | 2,981,730) |
| Jun 30, 2007 | 0.00 | = | —) | ÷ | 3,550,042) |
| Jun 30, 2006 | 0.00 | = | —) | ÷ | 3,567,991) |
| Jun 30, 2005 | 0.00 | = | —) | ÷ | 3,045,257) |
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), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
1 US$ in thousands
The capital structure has undergone significant transformations over the observed period, shifting from a low-leverage profile to periods of high volatility and substantial debt accumulation, followed by a recent trend toward deleveraging.
- Initial Stability Phase (2008–2014)
- Between 2008 and 2014, the leverage profile remained conservative. Total debt was held remarkably steady, fluctuating marginally around 745 million US dollars. During this time, the debt-to-equity ratio exhibited a gradual decline from 0.25 to 0.20, indicating a preference for equity-based financing and a low-risk debt profile.
- Leverage Spike and Adjustment (2015–2019)
- A sharp pivot in capital strategy occurred in 2015, where total debt increased more than fourfold to approximately 3.19 billion US dollars, while stockholders' equity dropped precipitously to 421 million US dollars. This resulted in a peak debt-to-equity ratio of 7.57. Following this peak, a steady deleveraging trend emerged; by 2019, the ratio had decreased to 1.29 as equity recovered to 2.66 billion US dollars and debt was managed more moderately.
- Recent Volatility and Deleveraging Trend (2020–2026)
- A second period of increased leverage was observed between 2020 and 2022. Total debt peaked at 6.66 billion US dollars in 2022, coinciding with a decline in stockholders' equity to 1.40 billion US dollars, which drove the debt-to-equity ratio back up to 4.75. However, from 2023 onward, a strong trend of equity growth is evident, with stockholders' equity rising to 6.35 billion US dollars by 2026. This expansion of the equity base has effectively reduced the debt-to-equity ratio to 0.93, marking a return toward a more balanced capital structure.
The overall trajectory indicates a cyclical approach to leverage, characterized by aggressive debt increases followed by prolonged periods of equity accumulation to restore financial stability.
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Comparison to Competitors
KLA Corp., debt to equity, long-term trends, comparison to competitors
| KLA Corp. | Advanced Micro Devices Inc. | Analog Devices Inc. | Applied Materials Inc. | Broadcom Inc. | Intel Corp. | Lam Research Corp. | Marvell Technology Inc. | Micron Technology Inc. | NVIDIA Corp. | Qualcomm Inc. | Texas Instruments Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 30, 2026 | 0.93 | — | — | — | — | — | 0.30 | 0.31 | — | 0.05 | — | — |
| Jun 30, 2025 | 1.25 | 0.05 | 0.25 | 0.32 | 0.80 | 0.41 | 0.45 | 0.30 | 0.27 | 0.11 | 0.70 | 0.86 |
| Jun 30, 2024 | 1.97 | 0.03 | 0.22 | 0.33 | 1.00 | 0.50 | 0.58 | 0.28 | 0.30 | 0.23 | 0.56 | 0.80 |
| Jun 30, 2023 | 2.02 | 0.04 | 0.20 | 0.34 | 1.64 | 0.47 | 0.61 | 0.29 | 0.30 | 0.50 | 0.71 | 0.66 |
| Jun 30, 2022 | 4.75 | 0.05 | 0.18 | 0.45 | 1.74 | 0.41 | 0.80 | 0.29 | 0.14 | 0.41 | 0.86 | 0.60 |
| Jun 30, 2021 | 1.02 | 0.04 | 0.18 | 0.45 | 1.59 | 0.40 | 0.83 | 0.14 | 0.15 | 0.41 | 1.58 | 0.58 |
| Jun 30, 2020 | 1.30 | 0.06 | 0.43 | 0.52 | 1.72 | 0.45 | 1.12 | 0.17 | 0.17 | 0.16 | 2.59 | 0.74 |
| Jun 30, 2019 | 1.29 | 0.17 | 0.47 | 0.65 | 1.32 | 0.37 | 0.96 | 0.24 | 0.16 | 0.21 | 3.25 | 0.65 |
| Jun 30, 2018 | 1.38 | 0.99 | 0.58 | 0.78 | 0.66 | 0.35 | 0.37 | 0.00 | 0.14 | 0.27 | 17.64 | 0.56 |
| Jun 30, 2017 | 2.21 | 2.28 | 0.77 | 0.57 | 0.87 | 0.39 | 0.40 | 0.00 | 0.60 | 0.48 | 0.71 | 0.39 |
| Jun 30, 2016 | 4.44 | 3.45 | 0.34 | 0.46 | 0.72 | 0.38 | 0.74 | 0.00 | 0.82 | 0.32 | 0.37 | 0.34 |
| Jun 30, 2015 | 7.57 | — | 0.17 | 0.60 | 0.84 | 0.37 | 0.46 | 0.00 | 0.60 | 0.32 | 0.35 | 0.41 |
| Jun 30, 2014 | 0.20 | 11.83 | 0.18 | 0.25 | 1.70 | 0.25 | 0.27 | 0.00 | 0.61 | 0.31 | 0.00 | 0.45 |
| Jun 30, 2013 | 0.21 | 3.78 | 0.18 | 0.27 | 0.00 | 0.23 | 0.29 | 0.00 | 0.66 | 0.00 | 0.00 | 0.48 |
| Jun 30, 2012 | 0.23 | 3.80 | 0.20 | 0.27 | 0.00 | 0.26 | 0.25 | 0.00 | 0.42 | 0.01 | 0.00 | 0.52 |
| Jun 30, 2011 | 0.26 | 1.27 | 0.23 | 0.22 | 0.00 | 0.16 | 0.30 | 0.00 | 0.24 | 0.01 | 0.04 | 0.51 |
| Jun 30, 2010 | 0.33 | 2.39 | 0.13 | 0.03 | 0.15 | 0.04 | 0.01 | 0.00 | 0.29 | 0.01 | 0.05 | 0.00 |
| Jun 30, 2009 | 0.34 | 7.30 | 0.00 | 0.03 | 0.57 | 0.05 | 0.03 | 0.00 | 0.67 | 0.01 | 0.00 | 0.00 |
| Jun 30, 2008 | 0.25 | — | 0.00 | 0.03 | — | 0.05 | 0.17 | 0.12 | 0.44 | 0.00 | 0.00 | 0.00 |
| Jun 30, 2007 | 0.00 | 1.76 | 0.00 | 0.03 | — | 0.05 | 0.21 | 0.13 | 0.31 | 0.00 | 0.00 | 0.00 |
| Jun 30, 2006 | 0.00 | 0.66 | 0.00 | 0.06 | — | 0.06 | 0.25 | 0.01 | 0.07 | 0.00 | 0.00 | 0.00 |
| Jun 30, 2005 | 0.00 | 0.41 | 0.00 | 0.05 | — | 0.07 | 0.00 | 0.01 | 0.20 | 0.00 | 0.00 | 0.06 |
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), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Sector (Semiconductors & Semiconductor Equipment)
KLA Corp., debt to equity, long-term trends, comparison to sector (semiconductors & semiconductor equipment)
| KLA Corp. | Semiconductors & Semiconductor Equipment | |
|---|---|---|
| Jun 30, 2026 | 0.93 | — |
| Jun 30, 2025 | 1.25 | 0.38 |
| Jun 30, 2024 | 1.97 | 0.46 |
| Jun 30, 2023 | 2.02 | 0.46 |
| Jun 30, 2022 | 4.75 | 0.43 |
| Jun 30, 2021 | 1.02 | 0.49 |
| Jun 30, 2020 | 1.30 | 0.60 |
| Jun 30, 2019 | 1.29 | 0.56 |
| Jun 30, 2018 | 1.38 | 0.49 |
| Jun 30, 2017 | 2.21 | 0.56 |
| Jun 30, 2016 | 4.44 | 0.47 |
| Jun 30, 2015 | 7.57 | 0.43 |
| Jun 30, 2014 | 0.20 | 0.26 |
| Jun 30, 2013 | 0.21 | 0.22 |
| Jun 30, 2012 | 0.23 | 0.22 |
| Jun 30, 2011 | 0.26 | 0.18 |
| Jun 30, 2010 | 0.33 | 0.09 |
| Jun 30, 2009 | 0.34 | 0.12 |
| Jun 30, 2008 | 0.25 | 0.12 |
| Jun 30, 2007 | 0.00 | 0.11 |
| Jun 30, 2006 | 0.00 | 0.08 |
| Jun 30, 2005 | 0.00 | 0.07 |
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), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).
Comparison to Industry (Information Technology)
KLA Corp., debt to equity, long-term trends, comparison to industry (information technology)
| KLA Corp. | Information Technology | |
|---|---|---|
| Jun 30, 2026 | 0.93 | — |
| Jun 30, 2025 | 1.25 | 0.52 |
| Jun 30, 2024 | 1.97 | 0.61 |
| Jun 30, 2023 | 2.02 | 0.65 |
| Jun 30, 2022 | 4.75 | 0.70 |
| Jun 30, 2021 | 1.02 | 0.82 |
| Jun 30, 2020 | 1.30 | 0.95 |
| Jun 30, 2019 | 1.29 | 0.97 |
| Jun 30, 2018 | 1.38 | 0.82 |
| Jun 30, 2017 | 2.21 | 0.80 |
| Jun 30, 2016 | 4.44 | 0.65 |
| Jun 30, 2015 | 7.57 | 0.56 |
| Jun 30, 2014 | 0.20 | 0.38 |
| Jun 30, 2013 | 0.21 | 0.28 |
| Jun 30, 2012 | 0.23 | 0.24 |
| Jun 30, 2011 | 0.26 | 0.27 |
| Jun 30, 2010 | 0.33 | 0.24 |
| Jun 30, 2009 | 0.34 | 0.25 |
| Jun 30, 2008 | 0.25 | 0.28 |
| Jun 30, 2007 | 0.00 | 0.26 |
| Jun 30, 2006 | 0.00 | 0.19 |
| Jun 30, 2005 | 0.00 | 0.15 |
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), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30), 10-K (reporting date: 2012-06-30), 10-K (reporting date: 2011-06-30), 10-K (reporting date: 2010-06-30), 10-K (reporting date: 2009-06-30), 10-K (reporting date: 2008-06-30), 10-K (reporting date: 2007-06-30), 10-K (reporting date: 2006-06-30), 10-K (reporting date: 2005-06-30).