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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- Income Statement
- Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Sales (P/S) since 2005
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Segment Profit Margin
KLA Corp., profit margin by reportable segment
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Semiconductor Process Control | ||||||
| Specialty Semiconductor Process | ||||||
| PCB and Component Inspection | ||||||
| Other |
Based on: 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), 10-K (reporting date: 2020-06-30).
- Semiconductor Process Control Segment
- The profit margin for this segment exhibited a generally stable and strong performance from June 2020 to June 2022, increasing modestly from 63.81% to 65.21%. However, there was a notable decline starting in June 2023, with the margin dropping sharply to 43.97%, followed by a slight further decrease to 43.14% in June 2024. The margin showed some recovery in June 2025, rising to 45.7%, but remained substantially below the earlier peak levels. This trend indicates a period of sustained high profitability initially, followed by a significant margin compression beginning in mid-2023 with some limited improvement afterward.
- Specialty Semiconductor Process Segment
- This segment demonstrated relatively stable profit margins around the mid-50% range from June 2020 to June 2021, slightly decreasing from 55.7% to 55.99%, then dropping more noticeably to 53.12% in June 2022. From June 2023 onwards, a pronounced decline occurred, with margins falling steeply to 14.99% and then marginally improving to 17.18% in June 2024, before slightly declining again to 16.85% in June 2025. The data reflect considerable margin erosion post-2022, suggesting challenges impacting profitability in this segment during the recent years.
- PCB and Component Inspection Segment
- The profit margin in this segment fluctuated moderately between 43.4% and 48.06% from June 2020 to June 2021 but started decreasing to 45.54% by June 2022. Subsequently, a dramatic deterioration occurred, with the margin turning negative at -22.55% in June 2023, plummeting further to -85.12% in June 2024, before improving somewhat to -45.22% in June 2025. These figures reflect severe profitability issues in this segment beginning in mid-2023, with recurring losses significantly impacting overall segment performance, despite some recovery in the most recent period.
- Other Segment
- The "Other" segment displayed negative profit margins, with -1.74% in June 2020 worsening to -9.2% in June 2021. Data beyond this point are unavailable, limiting further analysis. The negative margins suggest ongoing unprofitability or cost pressures in this segment during the observed periods.
Segment Profit Margin: Semiconductor Process Control
KLA Corp.; Semiconductor Process Control; segment profit margin calculation
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 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), 10-K (reporting date: 2020-06-30).
1 2025 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
- Revenue Trends
- Revenues exhibited consistent growth over the observed periods, increasing from approximately $4.75 billion in June 2020 to over $10.9 billion in June 2025. Notably, there was a significant jump in revenue between June 2021 and June 2022, followed by continued expansion through June 2025, despite a slight dip in June 2024.
- Segment Profit Trends
- Segment profit showed a steady upward trend from June 2020 through June 2022, peaking at approximately $5.17 billion. However, after June 2022, segment profit decreased substantially in June 2023 and June 2024, before rising again in June 2025 to roughly $5 billion.
- Profit Margin Analysis
- The segment profit margin remained robust and relatively stable above 60% from June 2020 to June 2022, reaching a high of 65.21%. Subsequently, there was a pronounced decline beginning in June 2023, with margins dropping to below 45%, and a slight recovery observed in June 2025 to 45.7%. This indicates a notable contraction in profitability relative to revenues during the latter periods despite growth in absolute segment profits.
- Overall Interpretation
- The segment experienced strong revenue growth throughout the periods analyzed, accompanied by rising segment profits initially. However, starting from mid-2022, the segment encountered pressure on profitability margins, suggesting increased cost structures or pricing challenges. Despite these margin compressions, the absolute profit level rebounded in the most recent period. This pattern points to evolving operational or market conditions impacting efficiency or cost management, demanding further investigation to sustain profitability amid expanding revenues.
Segment Profit Margin: Specialty Semiconductor Process
KLA Corp.; Specialty Semiconductor Process; segment profit margin calculation
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 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), 10-K (reporting date: 2020-06-30).
1 2025 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
- Revenues
- The revenues show a consistent upward trend from June 30, 2020, to June 30, 2023, increasing from 329,700 thousand US dollars to 543,398 thousand US dollars. However, there is a slight decline in revenue in the period ending June 30, 2024, dropping to 528,701 thousand US dollars before recovering to 587,107 thousand US dollars in the latest period ending June 30, 2025. Overall, the revenue growth appears robust despite the minor dip in 2024.
- Segment Profit (Loss)
- The segment profit rose steadily from 183,641 thousand US dollars as of June 30, 2020, to a peak of 242,520 thousand US dollars by June 30, 2022. Following this peak, a significant decline occurred, with segment profit reducing sharply to 81,475 thousand US dollars by June 30, 2023. Thereafter, the profit shows moderate recovery, increasing to 90,839 thousand in 2024 and further to 98,952 thousand in 2025, but it remains well below the peak achieved in 2022.
- Segment Profit Margin
- The segment profit margin exhibited a strong and stable performance above 50% through June 2022, with figures ranging from 53.12% to 55.99%. However, from June 30, 2023, there is a marked decline in margin to 14.99%, which persists in the subsequent periods, slightly improving to 17.18% in 2024 and marginally retracting to 16.85% in 2025. This substantial drop in margin indicates a significant increase in costs or other factors adversely affecting profitability despite the increase in revenues in the later years.
- Overall Insights
- The segment experienced robust revenue and profit growth until mid-2022, followed by a pronounced decrease in segment profit and profit margin, signaling challenges impacting cost efficiency or pricing pressures. Revenues showed resilience and continued to grow overall, though profits have not returned to prior peak levels. The sharp reduction in profitability margin post-2022 suggests a need for the segment to address factors affecting operating leverage or cost structure.
Segment Profit Margin: PCB and Component Inspection
KLA Corp.; PCB and Component Inspection; segment profit margin calculation
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 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), 10-K (reporting date: 2020-06-30).
1 2025 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
The segment data reveals significant fluctuations in financial performance over the six-year period analyzed. Initially, there is a positive trend in both revenue and profitability from 2020 through 2022. Revenues increase steadily from approximately $727 million in 2020 to about $832 million in 2022, reflecting growth in the segment's sales. Correspondingly, segment profit increases from approximately $316 million in 2020 to nearly $391 million in 2021, with a slight decrease to around $379 million in 2022. The profit margin remains robust during this period, peaking at just over 48% in 2021 and maintaining an above 45% level in 2022.
From 2023 onward, there is a marked and sharp downturn in financial results. Revenues decline substantially, reaching around $632 million in 2023 and further dropping to approximately $552 million in 2024, before a modest recovery to about $622 million in 2025. The segment encounters significant losses starting in 2023, with the segment profit turning negative at approximately -$142 million and worsening to a loss of nearly -$470 million in 2024. Although the loss reduces somewhat in 2025 to about -$281 million, profitability remains severely impaired. This negative shift is also reflected in the profit margin, which plunges from positive territory above 45% in 2022 to a negative margin of -22.55% in 2023, declining further to -85.12% in 2024, before improving slightly to -45.22% in 2025.
Overall, the data indicate a period of healthy growth and profitability from 2020 through 2022, followed by a pronounced decline beginning in 2023. The downturn is characterized by declining revenues and substantial losses, suggesting challenges in maintaining profitability within the segment. Despite a slight revenue rebound in 2025, profitability remains negative, signaling ongoing operational or market difficulties affecting the segment's financial health.
Segment Profit Margin: Other
KLA Corp.; Other; segment profit margin calculation
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Segment profit (loss) | ||||||
| Revenues | ||||||
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | ||||||
Based on: 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), 10-K (reporting date: 2020-06-30).
1 2025 Calculation
Segment profit margin = 100 × Segment profit (loss) ÷ Revenues
= 100 × ÷ =
The analysis of the "Other" reportable segment over the periods ending June 30, 2020, through June 30, 2024, reveals several notable trends and patterns based on the available data.
- Revenues
- Revenues in this segment decreased significantly from 3,614 thousand US dollars in June 2020 to 739 thousand US dollars in June 2021. This drastic decline indicates a substantial contraction in the segment's sales or operational scale over the examined year. No subsequent revenue data is provided beyond 2021, which limits further trend analysis for later periods.
- Segment Profit (Loss)
- The segment consistently reported losses in both available years. The loss worsened from 63 thousand US dollars in June 2020 to 68 thousand US dollars in June 2021, representing a slight increase in negative results. The absence of profit or loss data for subsequent years prevents observation of later profitability trends.
- Segment Profit Margin
- The segment profit margin deteriorated markedly, moving from a negative 1.74% in June 2020 to a much larger negative 9.2% in June 2021. This steep decline aligns with the increased absolute loss and the significant drop in revenues, indicating worsening operational efficiency or increased costs relative to revenue.
In summary, the "Other" segment experienced a notable contraction in revenues combined with a deepening of losses and a worsening profit margin between mid-2020 and mid-2021. Due to missing data for subsequent years, it is not possible to determine whether these trends persisted, improved, or worsened beyond 2021.
Revenues
KLA Corp., revenues by reportable segment
US$ in thousands
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Semiconductor Process Control | ||||||
| Specialty Semiconductor Process | ||||||
| PCB and Component Inspection | ||||||
| Other | ||||||
| Total |
Based on: 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), 10-K (reporting date: 2020-06-30).
The revenue data reveals distinct trends across the reportable segments over the six-year period ending June 30, 2025.
- Semiconductor Process Control
- This segment shows a strong overall growth trend with some fluctuations. Revenues increased steadily from approximately 4.75 billion US dollars in 2020 to over 9.32 billion in 2023. Although there was a slight decrease in 2024 to about 8.73 billion, the segment rebounded significantly to reach approximately 10.95 billion in 2025, marking the highest revenue in the period analyzed. This indicates sustained demand and possibly increased market penetration or product enhancements in this core segment.
- Specialty Semiconductor Process
- The Specialty Semiconductor Process segment exhibited consistent growth over the six years, starting from roughly 330 million US dollars in 2020 and rising to nearly 587 million by 2025. Despite a modest dip in 2024, the general upward trajectory reflects a steady expansion or diversification within this niche market. The increments are moderate but stable, suggesting a reliable revenue stream with potential for further growth.
- PCB and Component Inspection
- Revenues in the PCB and Component Inspection segment display a less favorable trend compared to others. After increasing from approximately 727 million US dollars in 2020 to a peak of about 832 million in 2022, there is a notable decline to 631 million in 2023 and further down to approximately 552 million in 2024. A modest recovery occurs in 2025, reaching around 622 million. This pattern suggests challenges in maintaining revenue momentum, which could be due to market conditions or competitive pressures.
- Other
- The Other category presents minimal and inconsistent revenue values with data only available for 2020 and 2021, amounting to small figures of 3.6 million and 0.7 million US dollars respectively. This indicates negligible contribution to total revenues and a lack of continuity in this segment's reporting or activity.
- Total Revenues
- Total company revenues grew from approximately 5.81 billion US dollars in 2020 to a peak of about 10.50 billion in 2023, followed by a slight decrease to 9.81 billion in 2024. Revenues then rose sharply to approximately 12.16 billion in 2025, reflecting an overall positive growth trend. This pattern mirrors the fluctuations seen predominantly in the Semiconductor Process Control segment, which constitutes the largest portion of total revenues.
In summary, the Semiconductor Process Control segment drives the company's revenue growth with strong increases despite some short-term declines. The Specialty Semiconductor Process segment also contributes steady incremental growth, while the PCB and Component Inspection segment faces revenue decreases with partial recovery. The total revenue trajectory aligns closely with the trends of the largest segment, underscoring its impact on the overall financial performance.
Segment profit (loss)
KLA Corp., segment profit (loss) by reportable segment
US$ in thousands
| Jun 30, 2025 | Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | |
|---|---|---|---|---|---|---|
| Semiconductor Process Control | ||||||
| Specialty Semiconductor Process | ||||||
| PCB and Component Inspection | ||||||
| Other | ||||||
| Total |
Based on: 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), 10-K (reporting date: 2020-06-30).
The data reveals distinct trends across the various segments over the six-year period ending June 30, 2025.
- Semiconductor Process Control
- This segment shows an overall upward trajectory in profit, with fluctuations. Starting at approximately $3.03 billion in 2020, it increased significantly to about $5.17 billion in 2022. A decline occurred in 2023 and 2024, dropping to about $3.77 billion, followed by a rebound to roughly $5.00 billion in 2025. This pattern suggests cyclical performance with robust recovery potential.
- Specialty Semiconductor Process
- The profit in this segment steadily increased from about $184 million in 2020 to roughly $243 million in 2022. However, it sharply contracted in 2023 to approximately $81 million but recovered moderately to around $99 million by 2025. This indicates volatility after 2022, with a moderate upward trend resuming in the most recent data.
- PCB and Component Inspection
- Profitability in this segment initially improved from roughly $316 million in 2020 to about $391 million in 2021 but then declined slightly in 2022 to approximately $379 million. After 2022, the segment moved into negative territory, reporting losses starting at around -$142 million in 2023, worsening to about -$470 million in 2024, with a slight improvement to a loss of approximately -$281 million in 2025. This significant shift from profit to loss signals operational or market challenges specific to this segment.
- Other
- The category labeled "Other" shows minor losses of around $63,000 to $68,000 in 2020 and 2021, with no data beyond that period. Its impact on total segment profit is minimal.
- Total Segment Profit (Loss)
- The aggregate profit follows a pattern influenced by the Semiconductor Process Control segment. Total profit increased from about $3.53 billion in 2020 to a peak near $5.79 billion in 2022. This was followed by a decline to approximately $3.39 billion in 2024, during which the losses in the PCB and Component Inspection segment likely contributed significantly. The total profit then recovers to an estimated $4.82 billion in 2025.
In summary, the company's profitability is predominantly driven by the Semiconductor Process Control segment, which demonstrates resilience and substantial contribution to overall profits. The Specialty Semiconductor Process segment shows moderate but inconsistent growth, while the PCB and Component Inspection segment experiences a notable downturn into losses after 2022. The total segment profit reflects these dynamics, showing cyclical fluctuations with a recovery phase evident in the most recent year.