KLA Corp.
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+ FollowMarket Cap$206.07B
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Earnings Call Q1 2027
October 28, 2026 - AI Summary
Q4/Sep-26 results: beat and strong profitability
- Revenue $4.14B, above guidance midpoint; +29% YoY and +13% sequentially.
- Gross margin 62.7% (slightly above midpoint).
- Operating margin 46.1% — first time KLA has exceeded 46% operating margin; operating margins expanded ~240 bps sequentially.
- Free cash flow (FCF) $1.34B; cash flow from operations $1.53B.
- EPS: Non-GAAP diluted EPS $1.22; GAAP diluted EPS $1.18 (both above midpoint guidance).
Near-term outlook: December quarter acceleration and strong demand visibility
- December quarter revenue guidance: $4.7B ± $200M.
- This implies meaningful H2-26 acceleration: management expects H2 revenue growth ~25% over H1 (i.e., growth is accelerating as long-lead supply constraints clear).
- Expected mix for semiconductor process control revenue (for semiconductor customers): Foundry/logic ~60% and memory ~40% (DRAM within memory ~84%).
- Gross margin guidance: 62.5% ± 1pp, with memory cost headwinds partially offset by efficiency and pricing/value-sharing actions.
2026–2027 market forecast upgrades and company confidence
- Management raised expectations for the wafer equipment market (including advanced packaging) to ~mid-$150B range for calendar 2026.
- Expect wafer equipment market >$200B in calendar 2027.
- KLA emphasized unprecedented sales funnel / backlog visibility and believes momentum continues into December quarter and into 2027, positioning for significant growth in 2027.
- They project sequential strength for the next several quarters, expecting more “linear” growth rather than the dramatic H2-26 step-up repeating each half.
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$55.92
62.7% downside
Current Fair Value
62.7% downsideOvervalued by 62.7% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $206.07 Billion |
|---|---|
| Enterprise Value | $211.85 Billion |
| Annual dividend | $0.84 |
| Dividend yield | 0.53% |
| Earnings per Share | $3.68 |
| Beta | 1.45 |
| Outstanding Shares | 1,305,330,000 |
Return
| Return on Equity | 82.81% |
|---|---|
| Return on Assets | 29.29% |
| Return on Invested Capital | 44.06% |
Valuation & Multiples
| P/E Ratio | 39.25 |
|---|---|
| PEG | 102.92 |
| Price to Sales | 13.62 |
| Price to Book Ratio | 37.45 |
| Enterprise Value to Revenue | 14.6 |
| Enterprise Value to EBIT | 35.23 |
| Enterprise Value to Net Income | 40 |
| Total Debt to Enterprise | 0.04 |
| Debt to Equity | 1.17 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS Estimate
$1.13
Consensus analyst estimateRevenue Estimate
$3.93 B
Consensus analyst estimateNext Earnings Call
Expected Date
February 4, 2027
EPS Estimate
$1.42
Consensus analyst estimateRevenue Estimate
$4.72 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.82, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.8247▼ 77.12% |
|---|---|
| Total Calls | 269,440▼ 98.02% |
| Total Puts | 222,200▼ 98.98% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 5.12%▼ 86.86% |
|---|---|
| Total Invested | $13.03B▼ 96.50% |
| Investors Holding | 928▼ 1660.00% |
About KLA Corp.
10,000 employees
CEO: Richard Wallace
KLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuit...