Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

Analysis of Long-term (Investment) Activity Ratios

Microsoft Excel

Long-term Activity Ratios (Summary)

KLA Corp., long-term (investment) activity ratios

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Net fixed asset turnover 10.17 10.84 10.44 11.17 10.18 14.10
Net fixed asset turnover (including operating lease, right-of-use asset) 8.46 9.43 9.03 9.36 10.18 14.10
Total asset turnover 0.75 0.73 0.67 0.63 0.51 0.72
Equity turnover 3.59 6.57 2.05 2.18 1.72 2.49

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. KLA Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). KLA Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. KLA Corp. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. KLA Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.

Net Fixed Asset Turnover

KLA Corp., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Selected Financial Data (US$ in thousands)
Revenues 10,496,056 9,211,883 6,918,734 5,806,424 4,568,904 4,036,701
Land, property and equipment, net 1,031,841 849,929 663,027 519,824 448,799 286,306
Long-term Activity Ratio
Net fixed asset turnover1 10.17 10.84 10.44 11.17 10.18 14.10
Benchmarks
Net Fixed Asset Turnover, Competitors2
Advanced Micro Devices Inc. 14.27 15.60 23.41 15.23 13.46
Analog Devices Inc. 3.82 5.00 3.70 5.00 4.91 5.37
Applied Materials Inc. 9.37 11.18 11.93 10.72 9.55 12.26
Broadcom Inc. 16.63 14.94 11.69 9.52 8.81 7.91
Intel Corp. 0.56 0.78 1.25 1.38 1.30
Lam Research Corp. 9.39 10.46 11.22 9.37 9.12 12.27
Micron Technology Inc. 0.41 0.80 0.83 0.69 0.83 1.28
NVIDIA Corp. 7.09 9.69 7.76 6.52 8.34
ON Semiconductor Corp. 1.86 2.38 2.65 2.09 2.13
Qualcomm Inc. 7.10 8.55 7.36 6.34 7.88 7.64
Texas Instruments Inc. 1.75 2.91 3.57 4.42 4.35
Net Fixed Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 1.66 2.11 2.32 2.12 2.13
Net Fixed Asset Turnover, Industry
Information Technology 3.51 4.14 4.44 4.23 4.27

Based on: 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).

1 2023 Calculation
Net fixed asset turnover = Revenues ÷ Land, property and equipment, net
= 10,496,056 ÷ 1,031,841 = 10.17

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. KLA Corp. net fixed asset turnover ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

KLA Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Selected Financial Data (US$ in thousands)
Revenues 10,496,056 9,211,883 6,918,734 5,806,424 4,568,904 4,036,701
 
Land, property and equipment, net 1,031,841 849,929 663,027 519,824 448,799 286,306
Operating lease ROU assets 208,706 126,444 102,883 100,790
Land, property and equipment, net (including operating lease, right-of-use asset) 1,240,547 976,373 765,910 620,614 448,799 286,306
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 8.46 9.43 9.03 9.36 10.18 14.10
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Advanced Micro Devices Inc. 10.21 11.96 15.37 11.50 9.55
Analog Devices Inc. 3.52 4.51 3.24 4.07 4.91 5.37
Applied Materials Inc. 8.28 9.56 10.35 9.27 9.55 12.26
Broadcom Inc. 13.69 12.12 9.35 7.71 8.81 7.91
Intel Corp. 0.56 0.78 1.24 1.36 1.28
Lam Research Corp. 8.30 9.19 9.90 8.06 9.12 12.27
Micron Technology Inc. 0.40 0.78 0.82 0.68 0.83 1.28
NVIDIA Corp. 5.57 7.46 5.84 4.76 8.34
ON Semiconductor Corp. 1.76 2.22 2.48 1.98 2.04
Qualcomm Inc. 6.34 7.62 6.62 5.64 7.88 7.64
Texas Instruments Inc. 1.66 2.74 3.27 4.03 3.95
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Semiconductors & Semiconductor Equipment 1.61 2.04 2.23 2.04 2.10
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Information Technology 3.08 3.59 3.79 3.60 3.99

Based on: 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).

1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Revenues ÷ Land, property and equipment, net (including operating lease, right-of-use asset)
= 10,496,056 ÷ 1,240,547 = 8.46

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). KLA Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Total Asset Turnover

KLA Corp., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Selected Financial Data (US$ in thousands)
Revenues 10,496,056 9,211,883 6,918,734 5,806,424 4,568,904 4,036,701
Total assets 14,072,357 12,597,088 10,271,124 9,279,960 9,008,516 5,619,356
Long-term Activity Ratio
Total asset turnover1 0.75 0.73 0.67 0.63 0.51 0.72
Benchmarks
Total Asset Turnover, Competitors2
Advanced Micro Devices Inc. 0.33 0.35 1.32 1.09 1.12
Analog Devices Inc. 0.25 0.24 0.14 0.26 0.28 0.30
Applied Materials Inc. 0.86 0.96 0.89 0.77 0.77 0.97
Broadcom Inc. 0.49 0.45 0.36 0.31 0.33 0.42
Intel Corp. 0.28 0.35 0.47 0.51 0.53
Lam Research Corp. 0.93 1.00 0.92 0.69 0.80 0.89
Micron Technology Inc. 0.24 0.46 0.47 0.40 0.48 0.70
NVIDIA Corp. 0.65 0.61 0.58 0.63 0.88
ON Semiconductor Corp. 0.62 0.70 0.70 0.61 0.65
Qualcomm Inc. 0.70 0.90 0.81 0.66 0.74 0.70
Texas Instruments Inc. 0.54 0.74 0.74 0.75 0.80
Total Asset Turnover, Sector
Semiconductors & Semiconductor Equipment 0.44 0.50 0.53 0.51 0.55
Total Asset Turnover, Industry
Information Technology 0.59 0.63 0.61 0.57 0.58

Based on: 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).

1 2023 Calculation
Total asset turnover = Revenues ÷ Total assets
= 10,496,056 ÷ 14,072,357 = 0.75

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. KLA Corp. total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Equity Turnover

KLA Corp., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018
Selected Financial Data (US$ in thousands)
Revenues 10,496,056 9,211,883 6,918,734 5,806,424 4,568,904 4,036,701
Total KLA stockholders’ equity 2,919,753 1,401,351 3,377,554 2,665,424 2,659,108 1,620,511
Long-term Activity Ratio
Equity turnover1 3.59 6.57 2.05 2.18 1.72 2.49
Benchmarks
Equity Turnover, Competitors2
Advanced Micro Devices Inc. 0.41 0.43 2.19 1.67 2.38
Analog Devices Inc. 0.35 0.33 0.19 0.47 0.51 0.56
Applied Materials Inc. 1.62 2.11 1.88 1.63 1.78 2.52
Broadcom Inc. 1.49 1.46 1.10 1.00 0.91 0.78
Intel Corp. 0.51 0.62 0.83 0.96 0.93
Lam Research Corp. 2.12 2.74 2.43 1.94 2.07 1.70
Micron Technology Inc. 0.35 0.62 0.63 0.55 0.65 0.94
NVIDIA Corp. 1.22 1.01 0.99 0.89 1.25
ON Semiconductor Corp. 1.06 1.35 1.47 1.49 1.67
Qualcomm Inc. 1.66 2.45 3.37 3.87 4.94 24.50
Texas Instruments Inc. 1.04 1.37 1.38 1.57 1.61
Equity Turnover, Sector
Semiconductors & Semiconductor Equipment 0.79 0.90 1.01 1.07 1.11
Equity Turnover, Industry
Information Technology 1.44 1.61 1.67 1.65 1.65

Based on: 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).

1 2023 Calculation
Equity turnover = Revenues ÷ Total KLA stockholders’ equity
= 10,496,056 ÷ 2,919,753 = 3.59

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. KLA Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level.