Stock Analysis on Net
Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

Price to Earnings (P/E)
since 2005

Microsoft Excel

Calculation

KLA Corp., P/E, long-term trends, calculation

Microsoft Excel
P/E = Share price1, 2, 3 ÷ Earnings per share1 (EPS) EPS1 = Net income (loss) attributable to KLA1
(in thousands)		 ÷ No. shares of common stock outstanding2
Aug 8, 2025 29.72 = 91.48 ÷ 3.08 3.08 = 4,061,643 ÷ 1,319,613,700
Aug 5, 2024 34.24 = 70.35 ÷ 2.05 2.05 = 2,761,896 ÷ 1,344,250,220
Aug 4, 2023 20.04 = 49.65 ÷ 2.48 2.48 = 3,387,277 ÷ 1,367,200,740
Aug 5, 2022 16.89 = 39.57 ÷ 2.34 2.34 = 3,321,807 ÷ 1,418,037,760
Aug 6, 2021 25.97 = 35.34 ÷ 1.36 1.36 = 2,078,292 ÷ 1,527,371,570
Aug 7, 2020 25.92 = 20.29 ÷ 0.78 0.78 = 1,216,785 ÷ 1,554,614,440
Aug 16, 2019 18.44 = 13.61 ÷ 0.74 0.74 = 1,175,617 ÷ 1,592,559,500
Aug 6, 2018 23.02 = 11.83 ÷ 0.51 0.51 = 802,265 ÷ 1,561,265,080
Aug 4, 2017 15.04 = 8.88 ÷ 0.59 0.59 = 926,076 ÷ 1,568,404,200
Aug 5, 2016 17.18 = 7.76 ÷ 0.45 0.45 = 704,422 ÷ 1,559,950,030
Aug 7, 2015 22.54 = 5.24 ÷ 0.23 0.23 = 366,158 ÷ 1,575,308,780
Aug 8, 2014 20.52 = 7.23 ÷ 0.35 0.35 = 582,755 ÷ 1,653,681,520
Aug 8, 2013 17.82 = 5.84 ÷ 0.33 0.33 = 543,149 ÷ 1,657,319,110
Aug 6, 2012 11.45 = 5.20 ÷ 0.45 0.45 = 756,015 ÷ 1,665,163,160
Aug 5, 2011 7.61 = 3.62 ÷ 0.48 0.48 = 794,488 ÷ 1,670,002,170
Aug 6, 2010 25.53 = 3.23 ÷ 0.13 0.13 = 212,300 ÷ 1,678,314,650
Aug 7, 2009 — = 3.12 ÷ -0.31 -0.31 = -523,368 ÷ 1,706,680,730
Aug 7, 2008 18.23 = 3.78 ÷ 0.21 0.21 = 359,083 ÷ 1,732,228,000
Aug 20, 2007 21.95 = 6.00 ÷ 0.27 0.27 = 528,098 ÷ 1,931,537,110
Jan 29, 2007 25.83 = 4.92 ÷ 0.19 0.19 = 380,452 ÷ 1,997,259,570
Sep 2, 2005 20.83 = 4.92 ÷ 0.24 0.24 = 466,695 ÷ 1,975,858,230

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), 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$

2 Data adjusted for splits and stock dividends.

3 Closing price as at the filing date of KLA Corp. Annual Report.

The financial performance between 2005 and 2025 is characterized by substantial long-term growth in both equity value and profitability. Share prices experienced a consistent upward trajectory, particularly accelerating after 2019, rising from 4.92 in 2005 to 91.48 by August 2025. This price appreciation was largely supported by a significant increase in earnings per share, which grew from 0.24 in 2005 to 3.08 in 2025, despite a period of negative earnings in 2009.

Earnings Performance and Volatility
Earnings per share exhibited relative stability in the early period, followed by a sharp contraction in 2009, where EPS dropped to -0.31. Recovery was established in 2010, with a steady climb through 2016. A period of accelerated earnings growth is evident from 2019, where EPS rose from 0.74 to a peak of 3.08 by 2025, indicating a strong expansion in the company's bottom-line profitability.
Price-to-Earnings (P/E) Ratio Fluctuations
The P/E ratio remained largely within a range of 15 to 26 for the majority of the period from 2005 to 2020. A notable valuation trough occurred in 2011, where the ratio fell to 7.61, representing the lowest multiple in the observed timeframe. Following this, the ratio normalized, oscillating between 15 and 25 for nearly a decade.
Valuation Expansion Trends
A distinct shift in market valuation is observable starting in 2023. While historical P/E ratios typically centered around the 20x mark, the ratio expanded significantly to 34.24 in 2023 and remained elevated at 29.72 in 2025. This trend indicates a valuation expansion, where the share price growth began to outpace the growth rate of earnings per share, suggesting higher investor expectations for future growth.

AI Ask an analyst for more

Comparison to Competitors

KLA Corp., P/E, long-term trends, comparison to competitors

Microsoft Excel
KLA Corp. Advanced Micro Devices Inc. Analog Devices Inc. Applied Materials Inc. Broadcom Inc. Intel Corp. Lam Research Corp. Micron Technology Inc. NVIDIA Corp. Qualcomm Inc. Texas Instruments Inc.
Aug 8, 2025 29.72 75.29 54.43 29.37 67.63 — 24.09 24.69 43.95 34.74 40.19
Aug 5, 2024 34.24 110.61 66.48 19.20 175.56 — 27.05 145.72 56.68 18.95 34.72
Aug 4, 2023 20.04 317.27 27.14 19.63 36.78 109.27 19.26 — 131.70 17.07 22.24
Aug 5, 2022 16.89 96.16 31.21 13.55 20.70 14.54 13.77 6.62 68.08 9.75 18.88
Aug 6, 2021 25.97 45.54 68.31 22.05 40.73 10.59 21.03 13.38 78.54 17.15 20.38
Aug 7, 2020 25.92 41.66 41.43 22.31 66.38 11.02 24.23 21.80 67.59 28.06 27.95
Aug 16, 2019 18.44 169.62 31.04 20.25 47.09 13.91 13.64 7.98 22.77 22.03 24.47
Aug 6, 2018 23.02 68.76 22.17 9.75 8.14 10.41 11.70 3.40 48.05 — 18.05
Aug 4, 2017 15.04 282.39 44.94 16.16 63.27 22.15 15.33 9.20 36.34 31.96 27.77
Aug 5, 2016 17.18 — 26.07 20.68 — 16.72 15.81 — 28.95 17.37 21.45
Aug 7, 2015 22.54 — 27.06 15.88 28.48 11.85 17.37 6.25 19.88 17.18 17.66
Aug 8, 2014 20.52 — 27.51 27.87 98.35 13.90 18.20 11.39 22.17 16.11 21.89
Aug 8, 2013 17.82 — 23.06 78.13 23.31 12.80 66.48 14.78 14.02 17.19 22.29
Aug 6, 2012 11.45 — 18.56 118.67 13.97 9.48 37.82 — 15.69 16.21 21.47
Aug 5, 2011 7.61 10.61 11.45 7.52 12.75 10.29 6.16 32.47 41.12 20.59 17.06
Aug 6, 2010 25.53 13.36 15.08 18.91 15.37 10.60 13.40 4.16 — 22.76 12.93
Aug 7, 2009 — 17.53 35.03 — — 26.39 — — — 46.01 20.53
Aug 7, 2008 18.23 — 6.28 14.45 — 12.70 10.91 — 13.91 17.31 10.17
Aug 20, 2007 21.95 — 18.79 14.37 — 16.91 6.95 — 22.62 19.70 15.55
Jan 29, 2007 25.83 — 20.98 16.71 — 23.84 17.41 25.89 27.68 24.33 10.29
Sep 2, 2005 20.83 118.04 33.33 25.22 — 13.93 13.36 45.76 42.67 30.98 20.56

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), 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., P/E, long-term trends, comparison to sector (semiconductors & semiconductor equipment)

Microsoft Excel
KLA Corp. Semiconductors & Semiconductor Equipment
Aug 8, 2025 29.72 47.17
Aug 5, 2024 34.24 78.62
Aug 4, 2023 20.04 48.39
Aug 5, 2022 16.89 22.88
Aug 6, 2021 25.97 24.52
Aug 7, 2020 25.92 25.24
Aug 16, 2019 18.44 19.28
Aug 6, 2018 23.02 13.87
Aug 4, 2017 15.04 24.12
Aug 5, 2016 17.18 25.31
Aug 7, 2015 22.54 15.18
Aug 8, 2014 20.52 17.26
Aug 8, 2013 17.82 17.06
Aug 6, 2012 11.45 15.68
Aug 5, 2011 7.61 12.77
Aug 6, 2010 25.53 13.41
Aug 7, 2009 — 55.64
Aug 7, 2008 18.23 20.73
Aug 20, 2007 21.95 22.62
Jan 29, 2007 25.83 20.07
Sep 2, 2005 20.83 20.37

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), 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., P/E, long-term trends, comparison to industry (information technology)

Microsoft Excel
KLA Corp. Information Technology
Aug 8, 2025 29.72 40.65
Aug 5, 2024 34.24 45.35
Aug 4, 2023 20.04 36.11
Aug 5, 2022 16.89 26.94
Aug 6, 2021 25.97 29.77
Aug 7, 2020 25.92 31.23
Aug 16, 2019 18.44 23.31
Aug 6, 2018 23.02 23.18
Aug 4, 2017 15.04 23.50
Aug 5, 2016 17.18 19.51
Aug 7, 2015 22.54 16.54
Aug 8, 2014 20.52 17.12
Aug 8, 2013 17.82 14.14
Aug 6, 2012 11.45 14.37
Aug 5, 2011 7.61 13.73
Aug 6, 2010 25.53 14.99
Aug 7, 2009 — 21.45
Aug 7, 2008 18.23 15.68
Aug 20, 2007 21.95 36.28
Jan 29, 2007 25.83 31.95
Sep 2, 2005 20.83 33.66

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), 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).