KLA Corp., current enterprise value calculation

Current share price (P)	$183.97
No. shares of common stock outstanding	1,306,546,783
US$ in thousands
Common equity (market value)¹	240,365,412)
Add: Preferred stock, $0.001 par value, none outstanding (per books)	—)
Add: Non-controlling interest in consolidated subsidiaries (per books)	—)
Total equity	240,365,412)
Add: Short-term debt (per books)	—)
Add: Current portion of long-term debt (per books)	—)
Add: Long-term debt, excluding current portion (per books)	5,887,415)
Total equity and debt	246,252,827)
Less: Cash and cash equivalents	1,649,842)
Less: Marketable securities	3,252,566)
Enterprise value (EV)	241,350,419)

Based on: 10-K (reporting date: 2026-06-30).

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 183.97 × 1,306,546,783

KLA Corp., EV calculation

	Jun 30, 2026	Jun 30, 2025	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021
Share price^1, 2	$193.22	$91.48	$70.35	$49.65	$39.57	$35.34
No. shares of common stock outstanding¹	1,306,546,783	1,319,613,700	1,344,250,220	1,367,200,740	1,418,037,760	1,527,371,570
US$ in thousands
Common equity (market value)³	252,450,969)	120,718,261)	94,568,003)	67,881,517)	56,111,754)	53,977,311)
Add: Preferred stock, $0.001 par value, none outstanding (book value)	—)	—)	—)	—)	—)	—)
Add: Non-controlling interest in consolidated subsidiaries (book value)	—)	—)	—)	—)	(2,261)	(1,912)
Total equity	252,450,969)	120,718,261)	94,568,003)	67,881,517)	56,109,493)	53,975,399)
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)	5,887,415)	5,884,257)	5,880,199)	5,890,736)	6,660,718)	3,422,767)
Total equity and debt	258,338,384)	126,602,518)	101,198,138)	73,772,253)	62,770,211)	57,418,166)
Less: Cash and cash equivalents	1,649,842)	2,078,908)	1,977,129)	1,927,865)	1,584,908)	1,434,610)
Less: Marketable securities	3,252,566)	2,415,715)	2,526,866)	1,315,294)	1,123,100)	1,059,912)
Enterprise value (EV)	253,435,976)	122,107,895)	96,694,143)	70,529,094)	60,062,203)	54,923,644)

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 Data adjusted for splits and stock dividends.

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

³ 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 193.22 × 1,306,546,783

A consistent and accelerating upward trend is observed across all valuation metrics from June 30, 2021, through June 30, 2026. The growth trajectory transitions from moderate annual increases in the early period to an exponential surge in the final projected year.

Market Capitalization and Equity Trends: Common equity market value demonstrates steady growth from 53.98 billion USD in 2021 to 120.72 billion USD by 2025. A significant valuation spike occurs between June 30, 2025, and June 30, 2026, where the market value increases by approximately 109%, reaching 252.45 billion USD. The alignment between common equity market value and total equity suggests a capital structure primarily driven by common shares.
Enterprise Value (EV) Progression: Enterprise value mirrors the growth pattern of the market capitalization, rising from 54.92 billion USD in 2021 to 122.11 billion USD in 2025. Similar to equity, the enterprise value experiences a dramatic escalation in 2026, closing at 253.44 billion USD. This indicates a substantial increase in the overall perceived value of the business operations.
Capital Structure and Net Debt Implications: The narrow variance between enterprise value and common equity market value throughout the analyzed period suggests a minimal net debt position. While total equity and debt remain higher than total equity—indicating the presence of liabilities—the proximity of the enterprise value to the market capitalization implies that cash and cash equivalents significantly offset the total debt load.

The overall financial trajectory is characterized by an aggressive expansion of value, with the most profound growth occurring in the 2026 period, reflecting a sharp increase in both the market's valuation of equity and the total enterprise value.

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KLA Corp. (NASDAQ:KLAC)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)