KLA Corp., current enterprise value calculation

Current share price (P)	$269.16
No. shares of common stock outstanding	1,306,275,210
US$ in thousands
Common equity (market value)¹	351,597,036)
Add: Preferred stock, $0.001 par value, none outstanding (per books)	—)
Add: Non-controlling interest in consolidated subsidiaries (per books)	—)
Total equity	351,597,036)
Add: Short-term debt (per books)	—)
Add: Current portion of long-term debt (per books)	—)
Add: Long-term debt, excluding current portion (per books)	5,884,257)
Total equity and debt	357,481,293)
Less: Cash and cash equivalents	2,078,908)
Less: Marketable securities	2,415,715)
Enterprise value (EV)	352,986,670)

Based on: 10-K (reporting date: 2025-06-30).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 269.16 × 1,306,275,210

KLA Corp., EV calculation

	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Share price^1, 2	$91.48	$70.35	$49.65	$39.57	$35.34	$20.29
No. shares of common stock outstanding¹	1,319,613,700	1,344,250,220	1,367,200,740	1,418,037,760	1,527,371,570	1,554,614,440
US$ in thousands
Common equity (market value)³	120,718,261)	94,568,003)	67,881,517)	56,111,754)	53,977,311)	31,543,127)
Add: Preferred stock, $0.001 par value, none outstanding (book value)	—)	—)	—)	—)	—)	—)
Add: Non-controlling interest in consolidated subsidiaries (book value)	—)	—)	—)	(2,261)	(1,912)	15,586)
Total equity	120,718,261)	94,568,003)	67,881,517)	56,109,493)	53,975,399)	31,558,713)
Add: Short-term debt (book value)	—)	—)	—)	—)	20,000)	—)
Add: Current portion of long-term debt (book value)	—)	749,936)	—)	—)	—)	—)
Add: Long-term debt, excluding current portion (book value)	5,884,257)	5,880,199)	5,890,736)	6,660,718)	3,422,767)	3,469,670)
Total equity and debt	126,602,518)	101,198,138)	73,772,253)	62,770,211)	57,418,166)	35,028,383)
Less: Cash and cash equivalents	2,078,908)	1,977,129)	1,927,865)	1,584,908)	1,434,610)	1,234,409)
Less: Marketable securities	2,415,715)	2,526,866)	1,315,294)	1,123,100)	1,059,912)	746,063)
Enterprise value (EV)	122,107,895)	96,694,143)	70,529,094)	60,062,203)	54,923,644)	33,047,911)

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 Data adjusted for splits and stock dividends.

² Closing price as at the filing date of KLA Corp. Annual Report.

³ 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 91.48 × 1,319,613,700

A sustained and significant increase in the overall valuation of the entity is observed from June 2020 through June 2025. The enterprise value and market capitalization exhibit a strong positive correlation, reflecting a consistent and aggressive expansion in the perceived market value of the organization over the six-year period.

Market Valuation Trends: Common equity market value experienced a substantial increase, rising from 31.5 billion USD in 2020 to 120.7 billion USD by 2025. This growth represents a nearly four-fold increase, with the most significant gains occurring in the final two years of the period, where the value rose from 67.9 billion USD in 2023 to 120.7 billion USD in 2025.
Enterprise Value (EV) Expansion: Enterprise value followed a trajectory closely aligned with market capitalization, starting at 33.0 billion USD in 2020 and climbing to 122.1 billion USD by 2025. The steady climb in EV indicates a consistent increase in the total value of the business operations.
Capital Structure and Debt Dynamics: Total equity and debt grew from 35.0 billion USD in 2020 to 126.6 billion USD in 2025. The proximity between the common equity market value and total equity suggests that equity is the dominant component of the company's valuation. Furthermore, the relatively narrow and stable gap between enterprise value and common equity market value indicates that net debt has not grown proportionally with the overall valuation, suggesting a conservative leverage profile relative to the increase in market cap.

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KLA Corp. (NASDAQ:KLAC)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)