Analysis of Reportable Segments
KLA Corp. operates in 4 segments: Semiconductor Process Control; Specialty Semiconductor Process; PCB and Component Inspection; and Other.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Segment Profit Margin
KLA Corp., profit margin by reportable segment
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Semiconductor Process Control | ||||||
| Specialty Semiconductor Process | ||||||
| PCB and Component Inspection | ||||||
| Other |
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
A significant deterioration in segment profitability is observed across the portfolio beginning in 2023. While the 2021 and 2022 fiscal years were characterized by strong positive margins across primary operating segments, the subsequent period from 2023 to 2026 shows a marked contraction in margins and, in some instances, a transition to substantial operating losses.
- Semiconductor Process Control
- This segment exhibited high and stable margins of approximately 65% during 2021 and 2022. A sharp decline occurred in 2023, with the margin dropping to 43.97%. Profitability has since plateaued, fluctuating within a narrower range between 43.14% and 45.70% through 2026.
- Specialty Semiconductor Process
- A severe reduction in profitability is evident in this segment. After maintaining margins between 53.12% and 55.99% in the first two years, the margin collapsed to 14.99% in 2023. For the remainder of the period, margins have remained suppressed, stabilizing between 16.85% and 17.18%.
- PCB and Component Inspection
- This segment demonstrates the most extreme volatility and decline. Initial margins were robust, ranging from 45.54% to 48.06% in 2021 and 2022. However, the segment shifted to negative margins in 2023 (-22.55%), which further deteriorated to a low of -85.12% in 2024 and 2026, indicating significant operational losses.
- Other
- A negative margin of -9.20% was recorded for this category in 2021, with no subsequent data available for the following years.
Segment Profit Margin: Semiconductor Process Control
KLA Corp.; Semiconductor Process Control; segment profit margin calculation
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
1 2026 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
The Semiconductor Process Control segment experienced a period of significant margin compression and revenue volatility between 2021 and 2026. While the segment initially maintained high profitability, a structural shift in margins occurred after 2022, leading to a lower baseline of profitability despite fluctuations in total revenue.
- Revenue Performance
- Revenues demonstrated a general upward trajectory from 2021 to 2025, growing from US$ 5.73 billion to a peak of US$ 10.95 billion. However, this growth was interrupted by a decline in 2024 and a further contraction in 2026, where revenue returned to the US$ 8.73 billion level observed in the previous year.
- Segment Profit Margin Trends
- A sharp decline in profit margins is observed starting in 2023. Margins peaked at 65.21% in 2022 before dropping precipitously to 43.97% in 2023. This contraction persisted through the remainder of the period, with a marginal recovery to 45.70% in 2025, followed by a return to 43.14% in 2026.
- Segment Profitability
- Segment profit peaked in 2022 at US$ 5.17 billion, coinciding with the highest observed profit margins. Although revenue reached its zenith in 2025, the segment profit of US$ 5.00 billion remained below the 2022 peak due to the lowered margin profile. A notable correlation is observed between 2024 and 2026, where both revenue and segment profit remained identical at US$ 8.73 billion and US$ 3.77 billion, respectively.
Segment Profit Margin: Specialty Semiconductor Process
KLA Corp.; Specialty Semiconductor Process; segment profit margin calculation
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
1 2026 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
The Specialty Semiconductor Process segment experienced a significant shift in profitability dynamics between 2021 and 2026. While revenues generally trended upward through 2025, the segment profit margin underwent a severe contraction, transitioning from a high-margin profile to a substantially lower, stabilized baseline.
- Revenue Performance
- Revenues demonstrated growth for the majority of the period, increasing from 369.2 million USD in 2021 to a peak of 587.1 million USD in 2025. Although a decline to 528.7 million USD was observed in 2026, the overall revenue scale remained higher than the levels seen at the start of the analyzed period.
- Profitability Erosion
- A sharp divergence between revenue growth and profit generation occurred in 2023. Despite revenues reaching 543.4 million USD, segment profit plummeted to 81.5 million USD from a previous high of 242.5 million USD in 2022. This led to a dramatic reduction in the segment profit margin, which fell from 53.12% in 2022 to 14.99% in 2023.
- Margin Stabilization
- From 2024 through 2026, the segment profit margin entered a period of relative stability, fluctuating within a narrow range between 16.85% and 17.18%. This indicates that while the segment recovered slightly from its 2023 low, it has failed to recapture the profit margins observed in 2021 and 2022, suggesting a fundamental change in the segment's cost structure or pricing environment.
Segment Profit Margin: PCB and Component Inspection
KLA Corp.; PCB and Component Inspection; segment profit margin calculation
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
1 2026 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
The PCB and Component Inspection segment experienced a severe financial deterioration beginning in 2023, transitioning from a state of high profitability to significant operational losses. This period is characterized by a sharp contraction in both revenue and profit margins, with a failure to return to positive earnings through the end of the analyzed period.
- Revenue Performance
- Revenues peaked in June 2022 at 832.1 million US dollars before entering a period of volatility and decline. A substantial contraction occurred by June 2023, with revenues falling to 631.6 million US dollars, reaching a low of 552.4 million US dollars by June 2024. While a marginal recovery to 621.7 million US dollars was noted in 2025, the figures returned to the 2024 low of 552.4 million US dollars by June 2026.
- Segment Profit Margin Trends
- The segment maintained strong profitability in 2021 and 2022, with margins of 48.06% and 45.54%, respectively. A critical pivot occurred in 2023, as the margin collapsed to -22.55%. The deterioration accelerated in 2024, with the margin plummeting to -85.12%, indicating that operating costs significantly exceeded generated revenue. Although there was a moderate correction to -45.22% in 2025, the margin reverted to -85.12% by June 2026.
- Segment Profit and Loss Magnitude
- Operating results shifted from a profit of 390.6 million US dollars in 2021 to a substantial loss of 470.3 million US dollars by 2024. The magnitude of these losses highlights a stark reversal in segment viability, as the losses recorded in 2024 and 2026 represent the most severe deficits in the analyzed timeframe, despite a temporary reduction in the loss amount to 281.2 million US dollars in 2025.
Segment Profit Margin: Other
KLA Corp.; Other; segment profit margin calculation
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
1 2026 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
The financial performance for the Other segment during the fiscal year ending June 30, 2021, was characterized by an operating loss. The segment failed to achieve profitability, as operating expenses exceeded the total revenue generated during the period.
- Segment Profitability
- For the period ending June 30, 2021, the segment recorded a loss of 68 thousand US dollars on revenues totaling 739 thousand US dollars.
- Profit Margin Analysis
- The segment profit margin stood at -9.20%, indicating that the costs associated with the Other segment outweighed its revenue generation capabilities for the reported period.
Revenues
KLA Corp., revenues by reportable segment
US$ in thousands
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Semiconductor Process Control | ||||||
| Specialty Semiconductor Process | ||||||
| PCB and Component Inspection | ||||||
| Other | ||||||
| Total |
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
Total revenues demonstrate a volatile growth trajectory over the analyzed period, peaking in June 2025 at approximately $12.16 billion. The overall revenue trend is characterized by significant expansion between 2021 and 2023, a cyclical contraction in 2024, and a substantial recovery in 2025, before returning to June 2024 levels in June 2026.
- Semiconductor Process Control
- This segment acts as the primary engine of revenue, maintaining a dominant share of the total portfolio. Revenue increased from $5.73 billion in 2021 to $9.32 billion in 2023. Despite a moderate decline to $8.73 billion in 2024, the segment reached a peak of $10.95 billion in 2025, before reverting to $8.73 billion in 2026.
- Specialty Semiconductor Process
- Growth in this segment was steady from 2021 to 2023, rising from $369 million to $543 million. The segment mirrors the cyclical pattern of the primary process control business, experiencing a slight dip in 2024, a peak of $587 million in 2025, and a subsequent decrease to $529 million in 2026.
- PCB and Component Inspection
- Unlike the semiconductor-focused segments, this area exhibited a general downward trend over the longer term. Following a peak of $832 million in 2022, revenues declined consistently to $552 million by 2024. A brief recovery to $622 million occurred in 2025, followed by a return to $552 million in 2026.
- Revenue Concentration and Divergence
- The financial results indicate a high concentration of revenue within the Semiconductor Process Control segment. While the two semiconductor-related segments generally move in tandem, the PCB and Component Inspection segment shows a divergent and overall declining trend, suggesting a shift in proportional contribution to the total revenue mix.
Segment profit (loss)
KLA Corp., segment profit (loss) by reportable segment
US$ in thousands
| Jun 30, 2026 | Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | |
|---|---|---|---|---|---|---|
| Semiconductor Process Control | ||||||
| Specialty Semiconductor Process | ||||||
| PCB and Component Inspection | ||||||
| Other | ||||||
| Total |
Based on: 10-K (reporting date: 2026-06-30), 10-K (reporting date: 2025-06-30), 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30).
Total segment profit exhibited significant volatility over the observed period, reaching a peak of US$ 5,789,163 thousand in June 2022 before experiencing a decline to a trough of US$ 3,388,139 thousand in June 2024. A subsequent recovery is noted in June 2025, with profits rising to US$ 4,820,541 thousand, although performance in June 2026 returned to the June 2024 level.
- Semiconductor Process Control
- This segment represents the primary driver of overall profitability. Profitability peaked in June 2022 at US$ 5,167,679 thousand. Following this peak, a downward trend occurred through June 2024, where profits fell to US$ 3,767,573 thousand. A sharp recovery was observed in June 2025, with profits increasing to US$ 5,002,746 thousand, before reverting to US$ 3,767,573 thousand in June 2026.
- Specialty Semiconductor Process
- This segment maintained positive contributions throughout the period, though at a significantly lower scale than the primary control segment. Profitability declined from a high of US$ 242,520 thousand in June 2022 to US$ 81,475 thousand in June 2023. A modest upward trend followed through June 2025, reaching US$ 98,952 thousand, before settling at US$ 90,839 thousand in June 2026.
- PCB and Component Inspection
- A critical shift in performance is observed in this segment, moving from profitability to consistent losses. After reporting profits of US$ 390,571 thousand in June 2021 and US$ 378,964 thousand in June 2022, the segment entered a deficit in June 2023 with a loss of US$ 142,413 thousand. Losses deepened to US$ 470,273 thousand by June 2024, showed partial improvement to a loss of US$ 281,157 thousand in June 2025, and returned to a loss of US$ 470,273 thousand in June 2026.
The overall financial trajectory is heavily dependent on the Semiconductor Process Control segment, which offsets the sustained losses incurred by the PCB and Component Inspection division. The recurrence of June 2024 values in the June 2026 reporting period suggests a stabilization or a return to previous performance levels across all major reportable segments.