Analysis of Profitability Ratios
Quarterly Data
Profitability ratios measure the company ability to generate profitable sales from its resources (assets).
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Profitability Ratios (Summary)
KLA Corp., profitability ratios (quarterly data)
Based on: 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), 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).
The analysis of the quarterly financial ratios reveals several notable trends in profitability and efficiency over the examined periods.
- Gross Profit Margin
- The gross profit margin shows a consistent level around the high 50s to low 60s percent range from late 2018 through mid-2024. Beginning at 59.08% in September 2018, it dipped slightly through early to mid-2019, then steadily increased and stabilized around 60% from late 2020 onward, suggesting sustained strong product or service profitability and stable cost management.
- Operating Profit Margin
- This margin experienced more volatility. Starting around 30.41% in September 2018, it declined to about 23.51% by June 2019, reflecting possible increased operating expenses or pressure on operational efficiencies. However, from late 2019 onward, it recovered notably, peaking at over 40% in late 2021 and early 2022, indicating improved operational control or higher operating leverage. The margin then showed a slight downward trend toward approximately 33-38% in the final quarters, though remaining robust overall.
- Net Profit Margin
- The net profit margin followed a generally upward trajectory with some fluctuations. Starting in the mid-to-high 20% range in 2018-2019, it experienced increases in 2020 and particularly a substantial rise in 2021, peaking at 36.57% in late 2021. The margin slightly softened afterward but remained above 27%, indicating sustained net profitability and possibly benefiting from tax, financing, or other non-operating factors.
- Return on Equity (ROE)
- The return on equity displayed significant variability and some extreme values in later periods. Initially in the low to mid-40% range from 2018 through early 2021, ROE surged dramatically after mid-2021, reaching an extraordinary 237.04% at one point, followed by a decline but still maintaining very high levels above 80% through 2024. This spike potentially reflects unusual financial events, leverage effects, or accounting adjustments impacting shareholders’ equity, warranting further detailed investigation.
- Return on Assets (ROA)
- The return on assets progressively increased from about 13% in 2018-2019 to mid-20% range in 2021 and 2022, reflecting enhanced asset utilization and profitability. Despite a slight dip in some quarters, ROA finished near 24% in mid-2024, indicating efficient use of the company’s asset base to generate earnings.
Overall, the financial data indicates a company with solid gross margins, improving operating performance post-2019, and strong net profitability. The operating margin recovery and asset efficiency enhancement suggest successful management actions or favorable market conditions in recent years. The extreme spikes in ROE, however, suggest caution and call for closer scrutiny of equity and financing structures to fully understand the sources and sustainability of this metric.
Return on Sales
Return on Investment
Gross Profit Margin
KLA Corp., gross profit margin calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Gross margin | |||||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||||
| Gross profit margin1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Gross Profit Margin, 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-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), 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).
1 Q3 2025 Calculation
Gross profit margin = 100
× (Gross marginQ3 2025
+ Gross marginQ2 2025
+ Gross marginQ1 2025
+ Gross marginQ4 2024)
÷ (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The gross margin values exhibit a generally upward trend from September 2018 through March 2025. Starting at approximately 711.9 million US dollars in September 2018, the gross margin rises with some fluctuations, reaching near 1.89 billion US dollars by March 2025. Notable increases are observed particularly after 2020, with consistent growth through 2024 and into early 2025. Some quarters, such as March 2023 and December 2023, demonstrate a dip relative to previous quarters, but the overall trajectory remains positive.
Revenue figures display a similar pattern of growth over the period analyzed. Beginning around 1.09 billion US dollars in late 2018, revenues increase steadily, peaking close to 3.07 billion US dollars by June 2024, then slightly retreating by March 2025 to just over 3.06 billion US dollars. The revenue increments are consistent across most quarters, highlighting sustained expansion. Temporary declines or slower growth are observable in some quarters, notably around late 2022 and early 2023.
The gross profit margin percentage data, available from June 2019 onward, shows a stable and modest uptrend. Starting near 59.08%, the gross profit margin gradually climbs to around 60.56% by March 2025. This pattern indicates incremental efficiency improvements in managing production costs or pricing power over time. Variability is limited, with the margin hovering close to 60% for most periods, signaling consistent profitability at the gross level.
- Gross Margin Trend
- Steady increase over the analyzed timeframe with some dips but strong overall growth from around 712 million to nearly 1.89 billion US dollars.
- Revenue Trend
- Consistent growth from approximately 1.09 billion to over 3 billion US dollars, showing expansion in sales and market presence with some short-term fluctuations.
- Gross Profit Margin Percentage
- Stable gradual increase from just above 59% to about 60.5%, indicating improving cost control or pricing strategies maintaining gross profitability.
In summary, both revenue and gross margin have expanded significantly during the period, while the gross profit margin percentage has remained consistently strong with slight upward momentum. This pattern suggests effective operational management and successful scaling of the core business over multiple years.
Operating Profit Margin
KLA Corp., operating profit margin calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Income from operations | |||||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||||
| Operating profit margin1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Operating Profit Margin, 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-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), 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).
1 Q3 2025 Calculation
Operating profit margin = 100
× (Income from operationsQ3 2025
+ Income from operationsQ2 2025
+ Income from operationsQ1 2025
+ Income from operationsQ4 2024)
÷ (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
The financial data exhibits significant fluctuations and general upward trends over the analyzed periods for the key financial metrics.
- Income from Operations
- The income from operations shows considerable volatility across the quarters. Initial figures in late 2018 and early 2019 reflect lower levels, with a notable dip in the first quarter of 2020. Following this, there is a recovery and a steady increase, peaking around the fourth quarter of 2022 and early 2023. There is some decline mid-2023, but the figures rise again towards mid-2024 and early 2025, reaching the highest values in this timeframe. This pattern suggests a strong cyclical performance with recoveries possibly influenced by external market factors or operational improvements.
- Revenues
- Revenues display an overall growth trajectory throughout the periods. Beginning from approximately 1.09 billion in late 2018, revenues increased consistently, with minor fluctuations, reaching a peak exceeding 3 billion by the first quarter of 2025. This steady revenue enhancement indicates successful market expansion or increased sales volume. There are minor dips in early 2023, followed by rebounds in subsequent quarters. The growth trend is more pronounced in the periods post-2020, indicating accelerated business scaling or improved market conditions.
- Operating Profit Margin
- The operating profit margin reveals a notable increasing trend from mid-2019, starting around 23-30% and rising steadily to reach approximately 38-40% by late 2022 and into 2023. There is a slight decline observed toward mid-2024 but the margin remains robust above 33%, indicating enhanced operational efficiency and profitability over time. This improvement suggests effective cost management and possibly higher-margin product sales or pricing power. The margins' stability near or above 30% points to a strong profitability profile despite revenue and operational income fluctuations.
In summary, the data shows strong revenue growth supported by improving operating profit margins, reflecting enhanced profitability. Income from operations, while more volatile, aligns broadly with revenue trends and profit margin improvements, indicating that the company manages to convert increased revenues into substantial operating incomes despite periodic setbacks. The overall performance metrics suggest a company experiencing growth and improved efficiency over the evaluated periods.
Net Profit Margin
KLA Corp., net profit margin calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Net income attributable to KLA | |||||||||||||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||||
| Net profit margin1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Net Profit Margin, 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-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), 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).
1 Q3 2025 Calculation
Net profit margin = 100
× (Net income attributable to KLAQ3 2025
+ Net income attributable to KLAQ2 2025
+ Net income attributable to KLAQ1 2025
+ Net income attributable to KLAQ4 2024)
÷ (RevenuesQ3 2025
+ RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024)
= 100 × ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Net Income Attributable to KLA
- The net income figures exhibit significant fluctuations over the analyzed periods. Initially, the net income was relatively stable, with amounts around $370,000 to $395,000 thousand from late 2018 through late 2019. A notable decline is observed in early 2020, with net income dropping to around $78,452 thousand, followed by a sharp recovery and sustained growth from mid-2020 through 2021. The peak occurs in the third quarter of 2021, exceeding $1,068,417 thousand. Subsequently, net income remains strong, though with some variability, staying generally above $600,000 thousand from 2022 onward. The data toward the end of the series suggest continued robust profitability, with net income again surpassing $1,000,000 thousand in the first quarter of 2025.
- Revenues
- Revenues have demonstrated a clear upward trend throughout the periods assessed. Starting at approximately $1,093,260 thousand in late 2018, revenues gradually increased quarter by quarter, with occasional minor decreases. There was consistent growth through 2019 and into 2020, despite some volatility matching the fluctuations seen in net income. From 2021 into 2024, revenue growth accelerates, reaching nearly $3,076,851 thousand in early 2025. This indicates strong top-line expansion and likely reflects business scaling or favorable market conditions during the latter periods.
- Net Profit Margin
- Net profit margin data, available intermittently from mid-2019 onwards, reflect a generally high level of profitability relative to revenues. Margins start at approximately 25.73% in mid-2019 and exhibit an increasing trend, peaking above 36% in late 2021 and early 2022. Following this peak, margins experience a slight decline but remain robust, fluctuating mostly in the range of 27% to 33%. Towards early 2025, the margin shows renewed improvement, approaching 32%. These margins indicate efficient cost management and strong operational performance over the observed periods.
- Overall Trends and Insights
- The financial data reflect a company experiencing overall growth in both revenue and net income, accompanied by strong profitability. The event in early 2020, which includes a significant dip in net income, suggests a temporary disruption, possibly related to external economic factors. However, the subsequent recovery and peak performance periods highlight resilience and effective strategic execution. Consistent increases in revenue and robust profit margins support the conclusion of an improving financial position over time. The latest data suggest continued positive momentum entering 2025.
Return on Equity (ROE)
KLA Corp., ROE calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Net income attributable to KLA | |||||||||||||||||||||||||||||||||||
| Total KLA stockholders’ equity | |||||||||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||||
| ROE1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| ROE, 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-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), 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).
1 Q3 2025 Calculation
ROE = 100
× (Net income attributable to KLAQ3 2025
+ Net income attributable to KLAQ2 2025
+ Net income attributable to KLAQ1 2025
+ Net income attributable to KLAQ4 2024)
÷ Total KLA stockholders’ equity
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
The financial data reveals significant fluctuations in net income attributable to the company over the observed periods. Net income experienced an initial decline from 395,944 thousand USD in September 2018 to 78,452 thousand USD in March 2020, before rebounding strongly and peaking at 1,068,417 thousand USD in September 2021. Following this peak, net income showed variability with a general downward trend, fluctuating between approximately 580,000 thousand USD and 1,000,000 thousand USD in subsequent quarters, ending at 1,088,416 thousand USD in March 2025.
Total stockholders' equity showed a general upward trend from 1,567,369 thousand USD in September 2018 to a peak of 4,086,307 thousand USD in March 2022. However, there was a notable decrease to 1,401,351 thousand USD in June 2022, after which equity gradually increased again, reaching 4,004,739 thousand USD by March 2025. This suggests periods of significant equity fluctuations, including a sharp dip mid-way through the series.
The return on equity (ROE) displayed considerable volatility. Data before September 2019 is incomplete, but from the available figures, ROE was high, ranging around 44% to 47% from September 2019 to June 2020. Subsequently, ROE increased sharply, peaking at 237.04% in June 2022, coinciding with the period just before the equity dip. After this peak, ROE gradually declined, settling around 82% – 92% in the final quarters up to March 2025. The very high ROE values relative to typical benchmarks suggest periods of either exceptionally high profitability relative to equity or periods where equity was low, inflating the ratio.
- Net Income
- Marked by an initial decline, followed by a strong recovery and significant peaks in late 2021 and early 2025, with variability in between.
- Total Stockholders’ Equity
- Generally upward trending with notable volatility, including a significant drop in mid-2022, before recovering towards the end of the period.
- Return on Equity (ROE)
- Initially steady at high levels, ROE surged to extremely high values near mid-2022, then gradually declined but remained elevated through the final quarters under review.
Overall, the data indicates periods of substantial financial performance variability with strong income generation and equity movements. The sharp changes in ROE might indicate episodes of shifting capital structure or profitability changes. The mid-2022 equity dip and ROE spike warrant further investigation to understand underlying causes, such as asset revaluations, share buybacks, or other capital actions. The ongoing elevated ROE suggests sustained efficiency in leveraging equity for profit generation in recent quarters.
Return on Assets (ROA)
KLA Corp., ROA calculation (quarterly data)
| 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 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Net income attributable to KLA | |||||||||||||||||||||||||||||||||||
| Total assets | |||||||||||||||||||||||||||||||||||
| Profitability Ratio | |||||||||||||||||||||||||||||||||||
| ROA1 | |||||||||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| ROA, 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-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), 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).
1 Q3 2025 Calculation
ROA = 100
× (Net income attributable to KLAQ3 2025
+ Net income attributable to KLAQ2 2025
+ Net income attributable to KLAQ1 2025
+ Net income attributable to KLAQ4 2024)
÷ Total assets
= 100 × ( + + + )
÷ =
2 Click competitor name to see calculations.
- Net Income Attributable to KLA
- The net income demonstrates considerable volatility across the reported periods. Initially, there was a decline from 395,944 thousand USD in September 2018 to a low point of 78,452 thousand USD in March 2020. From that low, a marked recovery is observed with earnings increasing sharply to 1,068,417 thousand USD by September 2021, reflecting a significant growth period. Subsequently, fluctuations have occurred with net income showing a general downward trend toward the end of 2023, falling to 582,534 thousand USD in December 2023 before rebounding somewhat through the first quarter of 2025. The net income pattern indicates periods of rapid growth as well as notable declines, suggesting exposure to cyclical or market-specific factors impacting profitability.
- Total Assets
- Total assets remain relatively stable through 2018 but experience a sharp increase starting in March 2019, rising from approximately 5.6 billion USD to over 11 billion USD by September 2021. This period corresponds with the increase in net income, potentially reflecting asset growth associated with business expansion or acquisitions. From late 2021 through 2024, assets continue to grow but at a slower and more fluctuating pace, with a peak around 15.7 billion USD in September 2024, followed by a dip to about 15 billion USD by the first quarter of 2025. Overall, asset growth suggests ongoing investment and scaling activities with some volatility in recent quarters.
- Return on Assets (ROA)
- ROA data begins from March 2019 and exhibits an upward trend initially, moving from approximately 13.05% to a peak exceeding 26% between early and mid-2022. This improvement signifies enhanced efficiency in utilizing assets to generate profit during this period, aligning with strong net income growth. However, following this peak, ROA declines gradually to 17.45% at the end of 2023, indicating reduced asset profitability. In 2024 and early 2025, ROA again improves, reaching 24.33% by March 2025. This pattern implies that although the company faced challenges affecting asset returns after 2022, it is recovering its efficiency toward the most recent periods.
- Overall Financial Trends and Insights
- The data reveals a company experiencing significant growth phases interspersed with periods of correction or slower performance. The surge in net income and total assets from 2019 to 2021 suggests aggressive expansion or favorable market conditions, which also coincides with increased operational efficiency as reflected in the rising ROA. The subsequent volatility with fluctuations in net income and a decrease in ROA post-2022 highlight emerging challenges or market shifts. However, the partial recovery in profitability metrics in recent quarters signals adaptability and potential resilience. Monitoring these indicators going forward will be critical to assess sustained financial health and operational performance.