KLA Corp. (NASDAQ:KLAC)

Revenues

The revenue figures exhibit considerable fluctuations over the reported periods, initially showing a moderate increase from approximately 2.1 billion USD in mid-2005 to around 3.2 billion USD by mid-2011. However, a significant decline is observed during the 2008–2009 period, with revenues dropping sharply from approximately 2.5 billion USD to about 1.5 billion USD. This downturn coincides with broader economic challenges, reflecting a potential impact on sales performance. Following this trough, the company demonstrates a robust recovery and growth trajectory from 2010 onwards, culminating in a peak revenue of roughly 10.5 billion USD by mid-2023. Notably, a slight contraction occurs in mid-2024, where revenues decrease to about 9.8 billion USD, before rebounding to approximately 12.2 billion USD in mid-2025. This volatility suggests sensitivity to market conditions but underscores a strong long-term growth trend.

Net Income (Loss) Attributable to KLA

Net income figures reveal substantial variability and notable periods of both profit and loss. Early years indicate positive net income, with fluctuations between approximately 380 million USD and 528 million USD from 2005 to 2007. The company experiences a dramatic loss in 2009, reporting a negative net income near -523 million USD, paralleling the revenue downturn. This loss is followed by a rapid return to profitability from 2010 onward, with net income escalating markedly in the subsequent years. A peak is observed in mid-2018 with net income close to 3.3 billion USD, maintaining high profitability through mid-2023, where it reaches a high of approximately 3.4 billion USD. A decline is noted in mid-2024 with net income reducing to about 2.8 billion USD, yet recovering strongly to over 4 billion USD by mid-2025. These trends indicate strong operational recovery and profitability growth post-crisis periods, with occasional dips that may reflect market or operational challenges.

Overall Financial Trends

Overall, the data demonstrates cyclical fluctuations associated with broader economic conditions, followed by sustained growth in both revenues and net income over the longer term. The downturn around 2008–2009 and the corresponding loss in net income highlight vulnerability during economic stress periods. The strong recovery thereafter, with escalating revenue and profit figures, suggests effective strategic management and market positioning. The recent years show some volatility but maintain an upward momentum, indicating a generally positive outlook with resilience against short-term setbacks.

The analysis of the financial data reveals notable trends in both current assets and total assets over the presented time period.

Current Assets

Current assets exhibit a generally upward trajectory from 2005 through 2025. Starting at approximately 3.2 billion USD in mid-2005, the value experienced some fluctuations in the early years, notably a decrease from 2007 to 2009, reaching a low near 2.4 billion USD in 2009. However, from 2010 onward, the current assets show a consistent and substantial growth pattern. By mid-2025, current assets reached nearly 10.7 billion USD, marking more than a threefold increase over the 20-year horizon. This increase suggests improving liquidity and possibly an expansion in operational scale or working capital management over time.

Total Assets

Total assets also indicate a strong upward trend across the same period but with some volatility in the middle years. Beginning at approximately 4 billion USD in 2005, total assets increased steadily to peak at about 4.8 billion USD in 2008 before experiencing a marked decline to around 3.6 billion USD by 2009, aligning with broader economic challenges during that period. From 2010 onwards, total assets recovered and expanded significantly, reaching over 16 billion USD by 2025. The growth rate after 2010 outpaces the earlier years considerably, evidencing possible sustained investments and asset accumulation.

Overall Trends and Insights

The patterns demonstrate that despite early volatility, particularly around 2008-2009 which coincides with a global financial downturn, the company managed to increase both its current and total asset bases substantially over the long term. The growth in total assets outstrips that of current assets, suggesting an increase in long-term assets and capital investments alongside working capital. This indicates a strategy focused on expanded capacity or infrastructure alongside maintaining sufficient liquidity. The upward trends in asset values signal strengthening financial position and likely support for continued operational growth.

The financial data reveals several notable trends in the company’s liability and equity structure over the analyzed period.

Current Liabilities

Current liabilities initially fluctuated moderately, starting from approximately 932 million US dollars in mid-2005, reaching a low point around mid-2009 at roughly 564 million US dollars. Thereafter, there was a consistent upward trend, peaking above 4.66 billion US dollars by mid-2024 with a slight decline at the end of the period.

Total Liabilities

Total liabilities demonstrated a general upward trajectory, increasing from approximately 932 million US dollars in mid-2005 to a peak above 12.06 billion US dollars by mid-2025. A pronounced increase occurs after mid-2014, indicating a substantial rise in liabilities within the last decade of the dataset. The sharp climb around 2014 coincides with the dramatic increase in total liabilities from approximately 1.87 billion US dollars in mid-2014 to over 4.4 billion US dollars in mid-2015.

Total Debt

Total debt data is not available until mid-2008, when it registers around 745 million US dollars. Following that point, total debt remains relatively stable near the 746 million mark until mid-2014. From mid-2014 onward, total debt surges markedly, reaching levels over 6.6 billion US dollars by mid-2024, indicating aggressive leveraging or increased borrowing during this period. The debt figures show fluctuations post-2014, but remain substantially elevated compared to earlier years.

Total KLA Stockholders’ Equity

Stockholders’ equity displays more volatility compared to liabilities. Starting above 3 billion US dollars in mid-2005, equity showed moderate growth until mid-2007, followed by a decline reaching a low of about 421 million US dollars in mid-2014. This sharp drop may indicate significant financial challenges or accounting events impacting equity.

From mid-2014, stockholders’ equity returned to an upward trend, culminating near 4.69 billion US dollars by mid-2025, suggesting recovery and subsequent growth in shareholder value. The recovery phase is marked by consistent increases from 2015 onwards, with equity nearly quadrupling by the end of the period.

Overall, the data shows a pattern of increasing financial leverage, especially after mid-2014, as reflected by the sharp rises in total liabilities and total debt. Meanwhile, stockholders’ equity underwent a significant contraction during the 2013-2014 period but subsequently recovered and expanded substantially, which may reflect strategic financial or operational restructuring. The interplay between rising liabilities and rebounding equity suggests active management of capital structure, possibly involving increased borrowing coupled with efforts to restore shareholder value.

Operating Activities Cash Flow

The net cash provided by operating activities demonstrated a generally upward trend over the period. Starting from approximately $507 million in mid-2005, there was a notable dip to about $196 million by mid-2009, indicating a contraction in cash generation during that period. However, from 2010 onwards, the cash flow from operations exhibited consistent growth, culminating in a peak around $4.08 billion by mid-2025. This suggests improving operational efficiency or increased profitability over time, particularly notable in the period following 2015, with substantial growth in operating cash inflows.

Investing Activities Cash Flow

The cash flow associated with investing activities showed significant volatility across the years. Early on, the flows swung between positive and negative values, with a peak positive inflow of approximately $918 million in mid-2015 amidst otherwise generally negative cash flows. Notably, the company experienced pronounced outflows in certain years, such as mid-2009 (-$485 million), mid-2019 (-$1.18 billion), and mid-2024 (-$1.48 billion), indicating substantial investment spending or asset acquisitions. The variability in investing cash flows suggests active investment management, with periods of both divestments and heavy investments.

Financing Activities Cash Flow

Net cash used in financing activities consistently reflected cash outflows throughout the years, ranging from about -$81 million in mid-2005 to a significant outflow of nearly -$3.79 billion by mid-2025. While the magnitude fluctuated, the general pattern was one of increased cash paid for financing purposes. Certain years saw steep increases in outflows, such as mid-2015 with over -$1.3 billion and mid-2025 with a sharp increase to nearly -$3.8 billion. This trend could be indicative of debt repayments, dividend distributions, share repurchases, or other financing cash outlays escalating over the years.

Overall Cash Flow Dynamics

The patterns across operating, investing, and financing cash flows suggest a company with growing operational cash generation capability that is actively investing and refinancing its capital structure. The substantial increases in operating cash flows appear to support intense investment periods and increased cash usage in financing activities. The combination of these trends points toward a strategic approach to growth and capital management over the presented years.

Basic earnings per share (EPS) trend

The basic EPS demonstrates notable variability during the observed period. Starting at 2.38 USD in mid-2005, the EPS fluctuated with decreases and recoveries, reaching a negative value of -3.07 USD in 2009. From 2010 onward, a general upward trend is observable, with earnings growing substantially, particularly after 2015. The most significant increases occur between 2020 and 2025, where EPS escalates from 7.76 USD to 30.53 USD, indicating strong profitability growth in recent years.

Diluted earnings per share (EPS) trend

The diluted EPS follows a pattern nearly identical to that of basic EPS, beginning at 2.32 USD in 2005 and dipping to -3.07 USD in 2009 as well. Subsequent years show recovery and marked growth, paralleling the basic EPS movements. The increase from 7.7 USD in 2020 to 30.37 USD in 2025 corroborates strong earnings enhancement under diluted conditions, reflecting consistent performance improvements across all shares.

Dividend per share (DPS) trend

The dividend per share displays a gradual increase from 0.12 USD in 2005 to 0.6 USD by 2008 and remains stable through 2010. A significant jump to 18.5 USD is noted in 2015, which appears anomalous compared to preceding years. Excluding this outlier, the dividend grows steadily from approximately 1 USD in 2010 to 6.75 USD in 2025. The consistent rise in dividends after 2015 suggests a policy of increasing returns to shareholders aligning with the company’s improved earnings performance.

Overall insights

The data reveals a recovery from a challenging fiscal position in 2009, followed by a prolonged period of growth in profitability as indicated by rising EPS values. The dividend payment pattern supports this, showing increases that correspond with strengthened earnings capacity. The exceptional dividend figure in 2015 warrants further investigation to understand its nature. Overall, the financial data points to a robust enhancement in company performance and shareholder value creation over the long term.