Stock Analysis on Net
Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
Quarterly Data

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

KLA Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = ROA × Financial Leverage
Dec 31, 2023 88.92% = 18.95% × 4.69
Sep 30, 2023 103.76% = 21.95% × 4.73
Jun 30, 2023 116.01% = 24.07% × 4.82
Mar 31, 2023 130.76% = 25.64% × 5.10
Dec 31, 2022 136.01% = 25.79% × 5.27
Sep 30, 2022 156.01% = 24.99% × 6.24
Jun 30, 2022 237.04% = 26.37% × 8.99
Mar 31, 2022 77.19% = 26.21% × 2.95
Dec 31, 2021 73.76% = 25.57% × 2.89
Sep 30, 2021 70.61% = 24.46% × 2.89
Jun 30, 2021 61.53% = 20.23% × 3.04
Mar 31, 2021 59.60% = 18.68% × 3.19
Dec 31, 2020 46.59% = 13.93% × 3.34
Sep 30, 2020 46.99% = 13.85% × 3.39
Jun 30, 2020 45.65% = 13.11% × 3.48
Mar 31, 2020 44.35% = 11.57% × 3.83
Dec 31, 2019 42.61% = 12.30% × 3.46
Sep 30, 2019 42.32% = 12.20% × 3.47
Jun 30, 2019 44.21% = 13.05% × 3.39
Mar 31, 2019 45.86% = 14.22% × 3.22
Dec 31, 2018 88.93% = 25.35% × 3.51
Sep 30, 2018 58.52% = 16.25% × 3.60
Jun 30, 2018 49.51% = 14.28% × 3.47
Mar 31, 2018 — = — × 4.09
Dec 31, 2017 — = — × 4.41
Sep 30, 2017 — = — × 3.89

Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2024 is the decrease in profitability measured by return on assets ratio (ROA).

Three-Component Disaggregation of ROE

KLA Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Dec 31, 2023 88.92% = 27.98% × 0.68 × 4.69
Sep 30, 2023 103.76% = 30.51% × 0.72 × 4.73
Jun 30, 2023 116.01% = 32.27% × 0.75 × 4.82
Mar 31, 2023 130.76% = 33.01% × 0.78 × 5.10
Dec 31, 2022 136.01% = 33.77% × 0.76 × 5.27
Sep 30, 2022 156.01% = 33.28% × 0.75 × 6.24
Jun 30, 2022 237.04% = 36.06% × 0.73 × 8.99
Mar 31, 2022 77.19% = 36.41% × 0.72 × 2.95
Dec 31, 2021 73.76% = 36.57% × 0.70 × 2.89
Sep 30, 2021 70.61% = 36.52% × 0.67 × 2.89
Jun 30, 2021 61.53% = 30.04% × 0.67 × 3.04
Mar 31, 2021 59.60% = 28.77% × 0.65 × 3.19
Dec 31, 2020 46.59% = 22.52% × 0.62 × 3.34
Sep 30, 2020 46.99% = 21.76% × 0.64 × 3.39
Jun 30, 2020 45.65% = 20.96% × 0.63 × 3.48
Mar 31, 2020 44.35% = 18.26% × 0.63 × 3.83
Dec 31, 2019 42.61% = 21.55% × 0.57 × 3.46
Sep 30, 2019 42.32% = 23.04% × 0.53 × 3.47
Jun 30, 2019 44.21% = 25.73% × 0.51 × 3.39
Mar 31, 2019 45.86% = 29.83% × 0.48 × 3.22
Dec 31, 2018 88.93% = 33.01% × 0.77 × 3.51
Sep 30, 2018 58.52% = 22.05% × 0.74 × 3.60
Jun 30, 2018 49.51% = 19.87% × 0.72 × 3.47
Mar 31, 2018 — = — × — × 4.09
Dec 31, 2017 — = — × — × 4.41
Sep 30, 2017 — = — × — × 3.89

Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2024 is the decrease in profitability measured by net profit margin ratio.

Five-Component Disaggregation of ROE

KLA Corp., decomposition of ROE (quarterly data)

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Dec 31, 2023 88.92% = 0.87 × 0.91 × 35.32% × 0.68 × 4.69
Sep 30, 2023 103.76% = 0.87 × 0.92 × 38.04% × 0.72 × 4.73
Jun 30, 2023 116.01% = 0.89 × 0.93 × 38.93% × 0.75 × 4.82
Mar 31, 2023 130.76% = 0.89 × 0.94 × 39.81% × 0.78 × 5.10
Dec 31, 2022 136.01% = 0.88 × 0.95 × 40.46% × 0.76 × 5.27
Sep 30, 2022 156.01% = 0.86 × 0.95 × 40.49% × 0.75 × 6.24
Jun 30, 2022 237.04% = 0.95 × 0.96 × 39.62% × 0.73 × 8.99
Mar 31, 2022 77.19% = 0.97 × 0.95 × 39.35% × 0.72 × 2.95
Dec 31, 2021 73.76% = 0.98 × 0.95 × 39.16% × 0.70 × 2.89
Sep 30, 2021 70.61% = 1.03 × 0.94 × 37.51% × 0.67 × 2.89
Jun 30, 2021 61.53% = 0.88 × 0.94 × 36.40% × 0.67 × 3.04
Mar 31, 2021 59.60% = 0.90 × 0.93 × 34.34% × 0.65 × 3.19
Dec 31, 2020 46.59% = 0.89 × 0.91 × 27.85% × 0.62 × 3.34
Sep 30, 2020 46.99% = 0.90 × 0.90 × 26.81% × 0.64 × 3.39
Jun 30, 2020 45.65% = 0.92 × 0.89 × 25.47% × 0.63 × 3.48
Mar 31, 2020 44.35% = 0.89 × 0.88 × 23.28% × 0.63 × 3.83
Dec 31, 2019 42.61% = 0.91 × 0.89 × 26.57% × 0.57 × 3.46
Sep 30, 2019 42.32% = 0.91 × 0.90 × 28.22% × 0.53 × 3.47
Jun 30, 2019 44.21% = 0.91 × 0.91 × 31.11% × 0.51 × 3.39
Mar 31, 2019 45.86% = 0.89 × 0.93 × 36.16% × 0.48 × 3.22
Dec 31, 2018 88.93% = 0.88 × 0.94 × 40.08% × 0.77 × 3.51
Sep 30, 2018 58.52% = 0.59 × 0.93 × 39.84% × 0.74 × 3.60
Jun 30, 2018 49.51% = 0.55 × 0.93 × 38.90% × 0.72 × 3.47
Mar 31, 2018 — = — × — × — × — × 4.09
Dec 31, 2017 — = — × — × — × — × 4.41
Sep 30, 2017 — = — × — × — × — × 3.89

Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The primary reason for the decrease in return on equity ratio (ROE) over Q2 2024 is the decrease in operating profitability measured by EBIT margin ratio.

Two-Component Disaggregation of ROA

KLA Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Dec 31, 2023 18.95% = 27.98% × 0.68
Sep 30, 2023 21.95% = 30.51% × 0.72
Jun 30, 2023 24.07% = 32.27% × 0.75
Mar 31, 2023 25.64% = 33.01% × 0.78
Dec 31, 2022 25.79% = 33.77% × 0.76
Sep 30, 2022 24.99% = 33.28% × 0.75
Jun 30, 2022 26.37% = 36.06% × 0.73
Mar 31, 2022 26.21% = 36.41% × 0.72
Dec 31, 2021 25.57% = 36.57% × 0.70
Sep 30, 2021 24.46% = 36.52% × 0.67
Jun 30, 2021 20.23% = 30.04% × 0.67
Mar 31, 2021 18.68% = 28.77% × 0.65
Dec 31, 2020 13.93% = 22.52% × 0.62
Sep 30, 2020 13.85% = 21.76% × 0.64
Jun 30, 2020 13.11% = 20.96% × 0.63
Mar 31, 2020 11.57% = 18.26% × 0.63
Dec 31, 2019 12.30% = 21.55% × 0.57
Sep 30, 2019 12.20% = 23.04% × 0.53
Jun 30, 2019 13.05% = 25.73% × 0.51
Mar 31, 2019 14.22% = 29.83% × 0.48
Dec 31, 2018 25.35% = 33.01% × 0.77
Sep 30, 2018 16.25% = 22.05% × 0.74
Jun 30, 2018 14.28% = 19.87% × 0.72
Mar 31, 2018 — = — × —
Dec 31, 2017 — = — × —
Sep 30, 2017 — = — × —

Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2024 is the decrease in profitability measured by net profit margin ratio.

Four-Component Disaggregation of ROA

KLA Corp., decomposition of ROA (quarterly data)

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Dec 31, 2023 18.95% = 0.87 × 0.91 × 35.32% × 0.68
Sep 30, 2023 21.95% = 0.87 × 0.92 × 38.04% × 0.72
Jun 30, 2023 24.07% = 0.89 × 0.93 × 38.93% × 0.75
Mar 31, 2023 25.64% = 0.89 × 0.94 × 39.81% × 0.78
Dec 31, 2022 25.79% = 0.88 × 0.95 × 40.46% × 0.76
Sep 30, 2022 24.99% = 0.86 × 0.95 × 40.49% × 0.75
Jun 30, 2022 26.37% = 0.95 × 0.96 × 39.62% × 0.73
Mar 31, 2022 26.21% = 0.97 × 0.95 × 39.35% × 0.72
Dec 31, 2021 25.57% = 0.98 × 0.95 × 39.16% × 0.70
Sep 30, 2021 24.46% = 1.03 × 0.94 × 37.51% × 0.67
Jun 30, 2021 20.23% = 0.88 × 0.94 × 36.40% × 0.67
Mar 31, 2021 18.68% = 0.90 × 0.93 × 34.34% × 0.65
Dec 31, 2020 13.93% = 0.89 × 0.91 × 27.85% × 0.62
Sep 30, 2020 13.85% = 0.90 × 0.90 × 26.81% × 0.64
Jun 30, 2020 13.11% = 0.92 × 0.89 × 25.47% × 0.63
Mar 31, 2020 11.57% = 0.89 × 0.88 × 23.28% × 0.63
Dec 31, 2019 12.30% = 0.91 × 0.89 × 26.57% × 0.57
Sep 30, 2019 12.20% = 0.91 × 0.90 × 28.22% × 0.53
Jun 30, 2019 13.05% = 0.91 × 0.91 × 31.11% × 0.51
Mar 31, 2019 14.22% = 0.89 × 0.93 × 36.16% × 0.48
Dec 31, 2018 25.35% = 0.88 × 0.94 × 40.08% × 0.77
Sep 30, 2018 16.25% = 0.59 × 0.93 × 39.84% × 0.74
Jun 30, 2018 14.28% = 0.55 × 0.93 × 38.90% × 0.72
Mar 31, 2018 — = — × — × — × —
Dec 31, 2017 — = — × — × — × —
Sep 30, 2017 — = — × — × — × —

Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The primary reason for the decrease in return on assets ratio (ROA) over Q2 2024 is the decrease in operating profitability measured by EBIT margin ratio.

Disaggregation of Net Profit Margin

KLA Corp., decomposition of net profit margin ratio (quarterly data)

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Dec 31, 2023 27.98% = 0.87 × 0.91 × 35.32%
Sep 30, 2023 30.51% = 0.87 × 0.92 × 38.04%
Jun 30, 2023 32.27% = 0.89 × 0.93 × 38.93%
Mar 31, 2023 33.01% = 0.89 × 0.94 × 39.81%
Dec 31, 2022 33.77% = 0.88 × 0.95 × 40.46%
Sep 30, 2022 33.28% = 0.86 × 0.95 × 40.49%
Jun 30, 2022 36.06% = 0.95 × 0.96 × 39.62%
Mar 31, 2022 36.41% = 0.97 × 0.95 × 39.35%
Dec 31, 2021 36.57% = 0.98 × 0.95 × 39.16%
Sep 30, 2021 36.52% = 1.03 × 0.94 × 37.51%
Jun 30, 2021 30.04% = 0.88 × 0.94 × 36.40%
Mar 31, 2021 28.77% = 0.90 × 0.93 × 34.34%
Dec 31, 2020 22.52% = 0.89 × 0.91 × 27.85%
Sep 30, 2020 21.76% = 0.90 × 0.90 × 26.81%
Jun 30, 2020 20.96% = 0.92 × 0.89 × 25.47%
Mar 31, 2020 18.26% = 0.89 × 0.88 × 23.28%
Dec 31, 2019 21.55% = 0.91 × 0.89 × 26.57%
Sep 30, 2019 23.04% = 0.91 × 0.90 × 28.22%
Jun 30, 2019 25.73% = 0.91 × 0.91 × 31.11%
Mar 31, 2019 29.83% = 0.89 × 0.93 × 36.16%
Dec 31, 2018 33.01% = 0.88 × 0.94 × 40.08%
Sep 30, 2018 22.05% = 0.59 × 0.93 × 39.84%
Jun 30, 2018 19.87% = 0.55 × 0.93 × 38.90%
Mar 31, 2018 — = — × — × —
Dec 31, 2017 — = — × — × —
Sep 30, 2017 — = — × — × —

Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30).

The primary reason for the decrease in net profit margin ratio over Q2 2024 is the decrease in operating profitability measured by EBIT margin ratio.