Liquidity ratios measure the company ability to meet its short-term obligations.
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Liquidity Ratios (Summary)
Based on: 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
- Current ratio
- The current ratio demonstrated an overall fluctuating trend within the observed periods. Starting at 2.24 in September 2019, it gradually increased, peaking around mid-2020 at 2.78, indicating a strengthening liquidity position. Following this peak, the ratio experienced a downward trajectory, hitting a low point around the end of 2023 at 1.91. However, it rebounded moderately in subsequent quarters, reaching approximately 2.62 by mid-2025. This pattern suggests periods of varying short-term financial strength but generally maintaining a current ratio above 2, which signifies adequate current asset coverage of current liabilities.
- Quick ratio
- The quick ratio showed a generally parallel movement to the current ratio but with lower absolute values, as expected given its exclusion of inventories. It began at 1.45 in September 2019 and peaked at 1.82 in June 2020, indicating strong short-term liquidity with readily available assets. Thereafter, a decline followed, reaching a trough of approximately 1.13 by the end of 2023. From early 2024 onwards, the quick ratio exhibited a recovery trend, moving upwards to about 1.65 by mid-2025. This trajectory reflects fluctuating liquid asset availability relative to current liabilities, with periods of both contraction and expansion.
- Cash ratio
- The cash ratio displayed more variability and generally lower values than the current and quick ratios, representing the most conservative liquidity measure. It started near 0.9 in September 2019 and rose to a peak of around 1.20 by March 2021, indicating a temporary increase in cash and cash-equivalent assets relative to current liabilities. Following this, the ratio trended downward, reaching a minimum near 0.73 toward late 2023. Subsequently, it gradually increased again, reaching approximately 1.10 by mid-2025. The pattern suggests that cash and equivalents have fluctuated more significantly, with periods of both tightening and loosening liquidity management.
In summary, all three liquidity ratios experienced increases up to mid-2020, followed by declines reaching lows around late 2023. Afterward, the ratios improved steadily through mid-2025. The trends indicate that the company managed liquidity flexibly in response to changing circumstances, maintaining generally strong current and quick ratios throughout. While the cash ratio was more volatile, its upward movement in recent periods may reflect improved cash management or stronger cash inflows. Overall, liquidity positions remained sufficiently robust to cover short-term obligations during the entire timeframe observed.
Current Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||||||||
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Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
Current assets | |||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||
Current ratio1 | |||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||
Current Ratio, Competitors2 | |||||||||||||||||||||||||||||||
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. |
Based on: 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2025 Calculation
Current ratio = Current assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Current Assets
- Current assets exhibited a general upward trend from September 2019 through June 2025. Beginning at approximately 4.36 billion USD in September 2019, current assets increased steadily with intermittent periods of minor fluctuation. Notable acceleration in growth occurred particularly between the periods of December 2021 and September 2022, where values rose above 7.1 billion USD to over 7.6 billion USD. This positive momentum largely continued, reaching a peak near 10.23 billion USD by March 2025, before experiencing a slight decline in June 2025 to roughly 10.7 billion USD.
- Current Liabilities
- Current liabilities showed a more variable pattern throughout the same timeframe. Starting at about 1.94 billion USD in September 2019, there was an initial decline until March 2020, followed by a moderate increase, peaking near 4.57 billion USD in September 2023. After this peak, liabilities decreased noticeably through the subsequent periods, dropping to around 3.91 billion USD by June 2025. The fluctuations in current liabilities suggest active management of short-term obligations with phases of both accumulation and reduction.
- Current Ratio
- The current ratio, representing liquidity, remained consistently above 2.0 for most of the periods analyzed, indicating a solid liquidity position. Starting at 2.24 in September 2019, it generally trended within the range of 2.2 to 2.7 up to December 2022. A decline to a low of 1.91 was observed around September 2023, suggesting a temporary compression of liquidity relative to current liabilities. However, this was followed by a recovery period where the ratio climbed back above 2.5 by March 2025, signaling restoration of stronger liquidity.
- Overall Analysis
- The financial data reflects a company with growing current assets and actively managed current liabilities over the examined period. Despite the rise in current liabilities at certain points, the maintenance of a current ratio predominantly above 2.0 indicates the company has preserved sufficient liquidity to cover short-term obligations. The dip in liquidity ratios during late 2023 may merit further scrutiny, but the prompt rebound suggests effective corrective measures. The steady increase in current assets over time potentially indicates expanding operational capacity or accumulation of liquid resources.
Quick Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||||||||
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Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||
Accounts receivable, net | |||||||||||||||||||||||||||||||
Total quick assets | |||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||
Quick ratio1 | |||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||
Quick Ratio, Competitors2 | |||||||||||||||||||||||||||||||
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. |
Based on: 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2025 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Quick Assets
- The total quick assets demonstrate an overall upward trend from September 2019 through June 2025. Starting at approximately $2.82 billion, the amount fluctuated moderately during the initial periods but showed consistent growth from early 2021 onward. Notably, there was a significant increase from around $4.19 billion in March 2022 to over $6.58 billion by September 2024. Despite some short-term variations, the general trajectory indicates strengthening liquidity over the examined timeframe.
- Current Liabilities
- Current liabilities showed an increase from approximately $1.94 billion in September 2019 to a peak near $4.58 billion in June 2023. After this peak, liabilities declined to about $3.91 billion by December 2024, followed by a slight increase to around $4.09 billion in June 2025. This pattern suggests a period of rising obligations until mid-2023, after which liabilities were managed downward with some fluctuation thereafter.
- Quick Ratio
- The quick ratio began at 1.45 in September 2019, improving to a peak of 1.82 by June 2020, reflecting strong short-term liquidity. Subsequently, the ratio trended downward to a low of 1.13 in June 2023, indicating increased current liabilities relative to quick assets during this period. However, after June 2023, the quick ratio gradually recovered, reaching 1.65 by June 2025, suggesting an improvement in the ability to cover current liabilities with quick assets towards the end of the timeframe.
- Overall Analysis
- Over the period analyzed, there is clear evidence of enhanced liquidity capacity, as shown by the substantial growth in total quick assets. Current liabilities increased substantially through mid-2023, which may have pressured the quick ratio downwards during this interval. The subsequent reduction in current liabilities coupled with continued growth in quick assets resulted in an improving quick ratio, signaling stronger short-term financial health in the latter periods. The trends collectively indicate active management of liquidity and obligations to maintain a balanced financial position.
Cash Ratio
Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||
Cash and cash equivalents | |||||||||||||||||||||||||||||||
Marketable securities | |||||||||||||||||||||||||||||||
Total cash assets | |||||||||||||||||||||||||||||||
Current liabilities | |||||||||||||||||||||||||||||||
Liquidity Ratio | |||||||||||||||||||||||||||||||
Cash ratio1 | |||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||
Cash Ratio, Competitors2 | |||||||||||||||||||||||||||||||
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. |
Based on: 10-K (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
1 Q4 2025 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= ÷ =
2 Click competitor name to see calculations.
- Total Cash Assets
- The total cash assets demonstrated a generally increasing trend over the observed periods. Starting at approximately 1.75 billion USD in September 2019, cash assets fluctuated but showed a marked rise particularly from the end of 2022 through mid-2024. Notably, cash increased from around 2.87 billion USD in December 2022 to over 4.62 billion USD in September 2024, before experiencing a slight dip in the last few quarters, stabilizing above 4.4 billion USD by June 2025.
- Current Liabilities
- Current liabilities showed a steady upward trajectory from 1.94 billion USD in September 2019 to a peak of approximately 4.8 billion USD in September 2024. After this peak, liabilities decreased somewhat to around 4.1 billion USD by June 2025. The increase in current liabilities reflects growing short-term financial obligations, with the peak period corresponding to the peak in cash assets.
- Cash Ratio
- The cash ratio, representing the company's ability to cover current liabilities with cash, fluctuated within a range between 0.73 and 1.2. Early in the period, it held above 0.9, reaching its highest level of 1.2 in March 2021. Subsequently, the ratio gradually declined to a low of 0.73 in September 2023, indicative of cash covering less than three-quarters of current liabilities during that timeframe. From that point, the ratio improved again, increasing to above 1.0 by June 2025. This improvement suggests enhanced liquidity in the most recent periods.
- Overall Analysis
- The data shows that the company maintained strong liquidity positions generally, despite fluctuations. The increasing total cash assets and current liabilities suggest growth in both resources and obligations. The cash ratio fluctuations imply that liquidity management may have been more conservative in earlier years and tightened approaching late 2023, followed by liquidity recovery. The peak in cash assets and liabilities around 2024 indicates significant operational scaling or financial activities impacting the short-term balance sheet components.