KLA Corporation

Name: KLA Corporation financial statements and ratios
Creator: Annalist

KLAC · Nasdaq · Technology, semiconductor equipment · United States · US GAAP · Fiscal year ends June

Latest report: Q1 FY2027, the quarter ended 30 September 2026, released 29 October 2026. Snapshot FY2027Q1_0dedf09d.

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Overview

Revenue, quarter

+28.9% year on year

Pre-tax income, quarter

+39.3% year on year

Net income, quarter

+38.1% year on year

Diluted EPS, quarter

+38.8% year on year

Pre-tax margin, last 4 quarters

+3.3pp year on year

Return on equity, last 4 quarters

−7.8pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest quarter, with their history over earlier quarters.

Revenue for the quarter ended 30 September 2026 was US$4.1 billion, 28.9% higher than in the same quarter a year earlier.
Strengthenedin Q1 FY2027 · stated since Q1 FY202528.9% from 15.2% in Q4 FY2026
Rule: Revenue against a year earlier · Sources 10-Q 2026-09
History of this finding, 9 records
1. Q1 FY2027 StrengthenedRevenue for the quarter ended 30 September 2026 was US$4.1 billion, 28.9% higher than in the same quarter a year earlier.Recorded from FY2027Q1_0dedf09d · data update
2. Q4 FY2026 StrengthenedRevenue for the quarter ended 30 June 2026 was US$3.7 billion, 15.2% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q3 FY2026 StrengthenedRevenue for the quarter ended 31 March 2026 was US$3.4 billion, 11.5% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q2 FY2026 WeakenedRevenue for the quarter ended 31 December 2025 was US$3.3 billion, 7.2% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q1 FY2026 WeakenedRevenue for the quarter ended 30 September 2025 was US$3.2 billion, 13.0% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q4 FY2025 WeakenedRevenue for the quarter ended 30 June 2025 was US$3.2 billion, 23.6% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q3 FY2025 StrengthenedRevenue for the quarter ended 31 March 2025 was US$3.1 billion, 29.8% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q2 FY2025 StrengthenedRevenue for the quarter ended 31 December 2024 was US$3.1 billion, 23.7% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q1 FY2025 NewRevenue for the quarter ended 30 September 2024 was US$2.8 billion, 18.5% higher than in the same quarter a year earlier.Reconstructed · initial
Net income attributable to the company was US$1.5 billion, 38.1% higher than in the same quarter a year earlier.
Strengthenedin Q1 FY2027 · stated since Q1 FY202538.1% from 13.3% in Q4 FY2026
Rule: Net income against a year earlier · Sources 10-Q 2026-09
History of this finding, 9 records
1. Q1 FY2027 StrengthenedNet income attributable to the company was US$1.5 billion, 38.1% higher than in the same quarter a year earlier.Recorded from FY2027Q1_0dedf09d · data update
2. Q4 FY2026 StrengthenedNet income attributable to the company was US$1.4 billion, 13.3% higher than in the same quarter a year earlier.Reconstructed · data update
3. Q3 FY2026 WeakenedNet income attributable to the company was US$1.2 billion, 10.3% higher than in the same quarter a year earlier.Reconstructed · data update
4. Q2 FY2026 StrengthenedNet income attributable to the company was US$1.1 billion, 39.0% higher than in the same quarter a year earlier.Reconstructed · data update
5. Q1 FY2026 WeakenedNet income attributable to the company was US$1.1 billion, 18.5% higher than in the same quarter a year earlier.Reconstructed · data update
6. Q4 FY2025 WeakenedNet income attributable to the company was US$1.2 billion, 43.8% higher than in the same quarter a year earlier.Reconstructed · data update
7. Q3 FY2025 StrengthenedNet income attributable to the company was US$1.1 billion, 80.9% higher than in the same quarter a year earlier.Reconstructed · data update
8. Q2 FY2025 StrengthenedNet income attributable to the company was US$825 million, 41.5% higher than in the same quarter a year earlier.Reconstructed · data update
9. Q1 FY2025 NewNet income attributable to the company was US$946 million, 27.6% higher than in the same quarter a year earlier.Reconstructed · initial
Return on equity over the last 4 quarters was 91.4%, against 99.2% a year earlier.
Weakenedin Q1 FY2027 · stated since Q3 FY2026
Rule: Return on equity against a year earlier · Sources 10-Q 2025-09, 10-Q 2026-09, 10-Q 2025-12 and 3 more
History of this finding, 11 records
1. Q1 FY2027 WeakenedReturn on equity over the last 4 quarters was 91.4%, against 99.2% a year earlier.Recorded from FY2027Q1_0dedf09d · data update
2. Q4 FY2026 StrengthenedReturn on equity over the last 4 quarters was 87.5%, against 100.8% a year earlier.Reconstructed · data update
3. Q3 FY2026 NewReturn on equity over the last 4 quarters was 95.0%, against 104.1% a year earlier.Reconstructed · data update
4. Q3 FY2026 RetiredThe finding changed to lower than a year earlier.Reconstructed · data update
5. Q2 FY2026 NewReturn on equity over the last 4 quarters was 100.7%, against 96.8% a year earlier.Reconstructed · data update
6. Q2 FY2026 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
7. Q1 FY2026 NewReturn on equity over the last 4 quarters was 99.2%.Reconstructed · data update
8. Q1 FY2026 RetiredThe finding changed to stated without a comparison.Reconstructed · data update
9. Q4 FY2025 WeakenedReturn on equity over the last 4 quarters was 100.8%, against 87.8% a year earlier.Reconstructed · data update
10. Q3 FY2025 StrengthenedReturn on equity over the last 4 quarters was 104.1%, against 90.4% a year earlier.Reconstructed · data update
11. Q2 FY2025 NewReturn on equity over the last 4 quarters was 96.8%, against 95.9% a year earlier.Reconstructed · initial
Free cash flow over the last 4 quarters was US$4.0 billion, and operating cash flow was 0.9 times net income attributable to the company.
Interpretation. Operating cash flow paid for all capital expenditure, and the rest is free for dividends, share buybacks or debt repayment.
Strengthenedin Q1 FY2027 · stated since Q1 FY2025
Rule: Free cash flow · Sources 10-Q 2025-09, 10-Q 2025-12, 10-Q 2026-03 and 2 more
History of this finding, 9 records
1. Q1 FY2027 StrengthenedFree cash flow over the last 4 quarters was US$4.0 billion, and operating cash flow was 0.9 times net income attributable to the company.Recorded from FY2027Q1_0dedf09d · data update
2. Q4 FY2026 WeakenedFree cash flow over the last 4 quarters was US$3.8 billion, and operating cash flow was 0.9 times net income attributable to the company.Reconstructed · data update
3. Q3 FY2026 WeakenedFree cash flow over the last 4 quarters was US$4.0 billion, and operating cash flow was 0.9 times net income attributable to the company.Reconstructed · data update
4. Q2 FY2026 StrengthenedFree cash flow over the last 4 quarters was US$4.4 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
5. Q1 FY2026 ConfirmedFree cash flow over the last 4 quarters was US$3.9 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
6. Q4 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$3.7 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
7. Q3 FY2025 ConfirmedFree cash flow over the last 4 quarters was US$3.5 billion, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · data update
8. Q2 FY2025 StrengthenedFree cash flow over the last 4 quarters was US$3.4 billion, and operating cash flow was 1.1 times net income attributable to the company.Reconstructed · data update
9. Q1 FY2025 NewFree cash flow over the last 4 quarters was US$3.2 billion, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · initial

Records before Q1 FY2027 are reconstructed from the latest snapshot. Ledger: findings.json.

Credit, liquidity, earnings quality and score findings: Analysis.

Findings No Longer Stated

Rules whose findings applied in earlier quarters but not in the latest one.

Net debt or net cash · retired in Q1 FY2026
1. Q1 FY2026 RetiredThe rule did not apply to the figures as at Q1 FY2026.Reconstructed · data update
2. Q4 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$2.1 billion at 30 June 2025.Reconstructed · data update
3. Q3 FY2025 ConfirmedCash and short-term investments exceeded total debt by US$1.9 billion at 31 March 2025.Reconstructed · data update
4. Q2 FY2025 StrengthenedCash and short-term investments exceeded total debt by US$1.8 billion at 31 December 2024.Reconstructed · data update
5. Q1 FY2025 NewCash and short-term investments exceeded total debt by US$1.2 billion at 30 September 2024.Reconstructed · initial

Data

Source documents25 documents, latest Form 10-Q, period ended 30 September 2026List

DownloadsExcel workbook · JSON

SnapshotFY2027Q1_0dedf09d

Corporate Events

Stock split6 August 2026
The filing reported a stock split of 10000 for 1.
Source 10-K 2026-06

Earnings, Returns and Balance Sheet

Revenue

By quarter, US dollars

Income Before Income Taxes

By quarter, US dollars

Net Income Attributable to the Company

By quarter, US dollars

Margins

Last 4 quarters at each quarter end, per cent

Returns

Last 4 quarters, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by quarter, US dollars

Net Debt

Total debt less cash and short-term investments, at quarter end, US dollars

Diluted Earnings per Share

By quarter, as reported

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a quarter derived from cumulative reports.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

Q1 FY2027

Form 10-Q, period ended 30 September 2026, filed 29 October 2026. Changes are against the previous report, and each figure shows its period.

5changes1threshold crossed

Changes in This Report 5

StrengthenedRevenue Against a Year Earlier10-Q 2026-09
Revenue for the quarter ended 30 September 2026 was US$4.1 billion, 28.9% higher than in the same quarter a year earlier.
Earlier record, Q4 FY2026
Revenue for the quarter ended 30 June 2026 was US$3.7 billion, 15.2% higher than in the same quarter a year earlier.
StrengthenedNet Income Against a Year Earlier10-Q 2026-09
Net income attributable to the company was US$1.5 billion, 38.1% higher than in the same quarter a year earlier.
Earlier record, Q4 FY2026
Net income attributable to the company was US$1.4 billion, 13.3% higher than in the same quarter a year earlier.
WeakenedReturn on Equity Against a Year Earlier10-Q 2026-09
Return on equity over the last 4 quarters was 91.4%, against 99.2% a year earlier.
Earlier record, Q4 FY2026
Return on equity over the last 4 quarters was 87.5%, against 100.8% a year earlier.
StrengthenedFree Cash Flow10-Q 2026-09
Free cash flow over the last 4 quarters was US$4.0 billion, and operating cash flow was 0.9 times net income attributable to the company.
Earlier record, Q4 FY2026
Free cash flow over the last 4 quarters was US$3.8 billion, and operating cash flow was 0.9 times net income attributable to the company.

1 more change

RetiredLiquidity Cover
The rule did not apply to the figures as at Q1 FY2027.
Earlier record, Q4 FY2025
Cash, short-term investments and operating cash flow over the 4 quarters ended 30 June 2025 equalled 5.0 times the sum of debt due within 12 months, capital expenditure and dividends.

Thresholds Crossed 1

ConfirmedCash Backing of Earnings
Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 4.3% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).

Fiscal years and the latest quarter, with flows over the last 4 quarters and balances at the quarter end. Select a value for its formula and the figures it uses.

Credit MetricsLease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

These ratios are not computed for this company; the method below gives the reason.

Method

Not computed: at 31 March 2022 the debt maturity schedule reports debt that the balance sheet items do not capture, so total debt is incomplete.
Lease-adjusted debt is total debt plus operating lease liabilities, before the deduction of cash. Adjusted EBITDA adds goodwill impairment, share-based compensation and operating lease cost to EBIT and depreciation and amortisation; restructuring and litigation charges, other impairments and profits on disposals stay in EBIT. FFO deducts cash interest, lease interest and cash taxes.
Lease interest is the average operating lease liability times the weighted average discount rate of the leases, or the implied cost of debt where the rate is not reported.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.

Liquidity and MaturitiesCash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

Findings No Longer Stated

Rules whose findings applied in earlier quarters but not in the latest one.

Liquidity cover · retired in Q1 FY2027
1. Q1 FY2027 RetiredThe rule did not apply to the figures as at Q1 FY2027.Recorded from FY2027Q1_0dedf09d · data update
2. Q4 FY2025 ConfirmedCash, short-term investments and operating cash flow over the 4 quarters ended 30 June 2025 equalled 5.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · restatement
3. Q4 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
4. Q3 FY2025 ConfirmedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
5. Q2 FY2025 StrengthenedCash, short-term investments and operating cash flow over the last 4 quarters equalled 5.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · data update
6. Q1 FY2025 NewCash, short-term investments and operating cash flow over the last 4 quarters equalled 3.0 times the sum of debt due within 12 months, capital expenditure and dividends.Reconstructed · initial

Sources and Uses, Fiscal 2025

Sources	Amount
Cash and short-term investments	$2.1bn
Operating cash flow	$4.1bn
Sources	$6.2bn

Uses	Amount
Debt due within 12 months	$0
Capital expenditure	$335m
Dividends paid	$905m
Uses	$1.2bn

Liquidity cover 4.97x

By Fiscal Year

Ratio	FY202130 Jun 2021	FY202230 Jun 2022	FY202330 Jun 2023	FY202430 Jun 2024	FY202530 Jun 2025
Liquidity coverCash on hand plus a year of operating cash flow, against the cash needed in the next 12 months for maturing debt, capital spending and dividends. Above 1, these sources cover the uses without new borrowing.(Cash + short-term investments + operating cash flow) / (debt due within 12 months + capital expenditure + dividends); the flows of the fiscal year or of the last 4 quarters are taken as those of the next 12 months, and undrawn facilities are not included
Debt due within 12 monthsBorrowings due within the next 12 months, which the company must repay or refinance.The larger of long-term debt maturing within 12 months in the maturity schedule and the current portion of long-term debt, + short-term borrowings

Method

Debt due within 12 months is the larger of the first year of the maturity schedule and the current portion of long-term debt, plus short-term borrowings. The schedule of a quarterly report can cover the rest of the fiscal year only and leaves out finance leases.
Capital expenditure and dividends of the fiscal year, or of the last 4 quarters, are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityEarnings above cash flowCash-flow accruals 4.3% · Q1 FY2027

Accruals and the cash backing of reported earnings.

Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 4.3% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).
Confirmedin Q1 FY2027 · stated since Q3 FY20264.3% from 4.0% in Q4 FY2026
Rule: Cash backing of earnings · Sources 10-Q 2025-09, 10-Q 2026-09, 10-Q 2025-12 and 2 more
History of this finding, 10 records
1. Q1 FY2027 ConfirmedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 4.3% of average total assets.Recorded from FY2027Q1_0dedf09d · data update
2. Q4 FY2026 StrengthenedNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 4.0% of average total assets.Reconstructed · data update
3. Q3 FY2026 NewNet income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.7% of average total assets.Reconstructed · data update
4. Q3 FY2026 RetiredThe finding changed to earnings led by accruals.Reconstructed · data update
5. Q2 FY2026 StrengthenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 1.3% of average total assets.Reconstructed · data update
6. Q1 FY2026 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.1% of average total assets.Reconstructed · data update
7. Q4 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.1% of average total assets.Reconstructed · data update
8. Q3 FY2025 WeakenedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 0.8% of average total assets.Reconstructed · data update
9. Q2 FY2025 ConfirmedOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.0% of average total assets.Reconstructed · data update
10. Q1 FY2025 NewOperating cash flow over the last 4 quarters exceeded net income attributable to the company by an amount equal to 3.0% of average total assets.Reconstructed · initial

Net Income and Operating Cash Flow

Last 4 quarters at each quarter end, US dollars

By Fiscal Year

Ratio	FY202230 Jun 2022	FY202330 Jun 2023	FY202430 Jun 2024	FY202530 Jun 2025	FY202630 Jun 2026	Q1 FY2027latest quarter
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Balance sheet accrualsThe same gap between profit and cash, measured from the changes in the balance sheet (Sloan, 1996).[(Change in current assets - change in cash) - (change in current liabilities - change in short-term debt - change in taxes payable) - depreciation and amortisation] / average total assets (Sloan, 1996)
Total accrualsAccruals that also cover long-term operating and financial assets and liabilities (Richardson, Sloan, Soliman and Tuna, 2005). Acquisitions raise the figure.Change in net operating working capital, net non-current operating assets and net financial assets / average total assets (Richardson, Sloan, Soliman and Tuna, 2005)
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company
Working capital investment to revenueCash put into receivables and stock, less extra credit from suppliers and customers, as a share of revenue. A positive figure means growth or slower collection uses cash.(Increase in receivables + increase in inventories - increase in payables - increase in contract liabilities) / revenue

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresAltman Z'' 6.40, Beneish −2.08 · Piotroski 7 of 9 · Last 4 quarters 6.48 at Q1 FY2027 · FY2026

Published distress and misstatement models, with their original coefficients and thresholds.

The Altman Z'' score for fiscal 2026 was 6.40, above the safe threshold of 2.60.
Interpretation. By this model, the balance sheet and earnings look like those of companies that did not go bankrupt in its original study: above 2.60 means safe, below 1.10 distress.
Strengthenedin FY2026 · stated since FY20246.40 from 5.64 in FY2025
Rule: Altman Z'' zone · Sources 10-Q 2026-09, 10-K 2026-06
History of this finding, 3 records
1. FY2026 StrengthenedThe Altman Z'' score for fiscal 2026 was 6.40, above the safe threshold of 2.60.Reconstructed · data update
2. FY2025 StrengthenedThe Altman Z'' score for fiscal 2025 was 5.64, above the safe threshold of 2.60.Reconstructed · data update
3. FY2024 NewThe Altman Z'' score for fiscal 2024 was 4.34, above the safe threshold of 2.60.Reconstructed · initial
The Beneish M-score for fiscal 2026 was minus 2.08, below the model threshold of minus 1.78.
Interpretation. The model finds no sign of earnings manipulation. Beneish (1999) set a threshold of minus 1.78, above which a company resembles the companies that manipulated their earnings.
Weakenedin FY2026 · stated since FY2024−2.08 from −2.23 in FY2025
Rule: Beneish M-score against its threshold · Sources 10-K 2026-06, 10-K 2025-06, 10-Q 2026-09
History of this finding, 3 records
1. FY2026 WeakenedThe Beneish M-score for fiscal 2026 was minus 2.08, below the model threshold of minus 1.78.Reconstructed · data update
2. FY2025 WeakenedThe Beneish M-score for fiscal 2025 was minus 2.23, below the model threshold of minus 1.78.Reconstructed · data update
3. FY2024 NewThe Beneish M-score for fiscal 2024 was minus 2.72, below the model threshold of minus 1.78.Reconstructed · initial
The Piotroski F-score for fiscal 2026 was 7 of 9. The 2 signals not met were operating cash flow above net income and no common equity issued.
Interpretation. The score counts how many of 9 tests of profit, debt, liquidity and efficiency the company passes. A score of 7 to 9 is the strongest group: Piotroski (2000) placed 0 to 3 in the weakest.
Weakenedin FY2026 · stated since FY20257.00 from 8.00 in FY2025
Rule: Piotroski F-score · Sources 10-K 2025-06, 10-K 2026-06, 10-Q 2026-09
History of this finding, 4 records
1. FY2026 WeakenedThe Piotroski F-score for fiscal 2026 was 7 of 9. The 2 signals not met were operating cash flow above net income and no common equity issued.Reconstructed · data update
2. FY2025 NewThe Piotroski F-score for fiscal 2025 was 8 of 9. The signal not met was no common equity issued.Reconstructed · data update
3. Q4 FY2025 RetiredThe finding changed to a high score.Reconstructed · data update
4. FY2024 NewThe Piotroski F-score for fiscal 2024 was 5 of 9. The 4 signals not met were return on assets higher than a year earlier, current ratio higher than a year earlier, no common equity issued and asset turnover higher than a year earlier.Reconstructed · initial

By Fiscal Year

Ratio	FY202230 Jun 2022	FY202330 Jun 2023	FY202430 Jun 2024	FY202530 Jun 2025	FY202630 Jun 2026	Q1 FY2027latest quarter
Altman Z'' scoreA measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.6.56 x working capital / total assets + 3.26 x retained earnings / total assets + 6.72 x EBIT / total assets + 1.05 x total equity / total liabilities (Altman, 1995); distress zone below 1.10, safe zone above 2.60	safe zone	safe zone	safe zone	safe zone	safe zone	safe zone
Beneish M-scoreA screen for earnings manipulation, built from 8 changes in the accounts, such as receivables growing faster than sales. Above minus 1.78 the model groups a company with the companies in the Beneish sample that manipulated their earnings.-4.84 + 0.920 DSRI + 0.528 GMI + 0.404 AQI + 0.892 SGI + 0.115 DEPI - 0.172 SGAI + 4.679 TATA - 0.327 LVGI (Beneish, 1999); model threshold -1.78	below threshold	below threshold	below threshold	below threshold	below threshold	n/a
Dechow F-scoreThe probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.Predicted probability of a misstatement (model 1 of Dechow, Ge, Larson and Sloan, 2011) / 0.0037, the unconditional probability; 1 equals the base rate	n/a					n/a
Piotroski F-scoreA count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.Number of 9 binary signals met on profitability, cash flow, debt, liquidity, equity issuance, margin and asset turnover (Piotroski, 2000)	n/a					n/a

Altman Z'' Score

fiscal 2026

A measure of the risk of financial distress, built from working capital, retained earnings, operating profit and equity. Above 2.60 the model counts a company as safe and below 1.10 as in distress; between the 2 is a grey zone.

Distress zone, below 1.10

Grey zone, 1.10 to 2.60

6.40Safe zone, above 2.60

The score of 6.40 is in the safe zone of the model, above 2.60. The largest part is working capital, at 2.95.

Part	Value	Coefficient	Contribution
Working capital / total assetsCurrent assets less current liabilities, against total assets: the short-term funds available for operations.	0.450	6.560	2.952
Retained earnings / total assetsProfits kept in the business over its life, against total assets.	0.205	3.260	0.669
EBIT / total assetsOperating profit against total assets: the earning power of the assets.	0.328	6.720	2.205
Total equity / total liabilitiesBook equity against liabilities: how far the assets could fall in value before liabilities exceed them.	0.547	1.050	0.575
Score			6.400

Altman, Hartzell and Peck (1995), for non-manufacturing companies. The model omits the ratio of sales to total assets of the 1968 model and uses book equity. Working capital below zero and equity reduced by share repurchases lower the score.

Beneish M-score

fiscal 2026

A screen for earnings manipulation, built from 8 changes in the accounts, such as receivables growing faster than sales. Above minus 1.78 the model groups a company with the companies in the Beneish sample that manipulated their earnings.

−2.08Below the threshold, −1.78 and below

Above the threshold, above −1.78

The score of minus 2.08 is below the model threshold of minus 1.78. Of the 8 measures, profit not backed by cash raises the score most.

Part	Value	Coefficient	Contribution
Intercept			−4.840
Days sales in receivables indexReceivables against sales, against a year earlier. A rise can mean sales recorded before customers pay.	1.142	0.920	1.051
Gross margin indexGross margin a year earlier against the current gross margin. Above 1, margins fell, which the model treats as a risk factor.	0.994	0.528	0.525
Asset quality indexAssets other than current assets and property, plant and equipment, as a share of total assets, against a year earlier. A rise can mean more costs recorded as assets.	0.911	0.404	0.368
Sales growth indexSales against a year earlier. The model treats fast growth as a risk factor.	1.117	0.892	0.996
Depreciation indexThe rate of depreciation a year earlier against the current rate. Above 1, depreciation slowed, which raises profit.	0.988	0.115	0.114
Selling, general and administrative expenses indexOverheads against sales, against a year earlier.	0.984	−0.172	−0.169
Total accruals to total assetsNet income less operating cash flow, against total assets: profit not backed by cash. It carries the largest coefficient in the model.	0.038	4.679	0.179
Leverage indexDebt against total assets, against a year earlier.	0.943	−0.327	−0.308
Score			−2.085

Beneish (1999), estimated on 74 companies identified as earnings manipulators in SEC enforcement releases and the press for 1982 to 1992, against 2,332 Compustat companies. The model classes a score above minus 1.78 with the first group. An index whose inputs are not reported counts as 1.

Dechow F-score

fiscal 2026

The probability of a material misstatement in the accounts, estimated from accruals, receivables, stock, cash sales, profitability and new financing, against the average. A score of 1 means average risk and 2 means twice the average.

A score of 1.80 means a probability of a misstatement 1.80 times the average rate in the Dechow sample: 0.67% against 0.37%.

Part	Value	Coefficient	Contribution
Intercept			−7.893
Total accruals (Richardson, Sloan, Soliman and Tuna)Total accruals: the growth of operating and financial assets net of liabilities, against average assets.	0.123	0.790	0.097
Change in receivables / average total assetsThe growth of receivables against average assets.	0.037	2.518	0.093
Change in inventories / average total assetsThe growth of stock against average assets.	0.026	1.191	0.031
Assets other than cash and property, plant and equipment / total assetsAssets other than cash and property, plant and equipment, as a share of total assets: assets whose value depends more on judgement.	0.831	1.979	1.645
Change in cash salesThe growth of sales collected in cash.	0.105	0.171	0.018
Change in return on assetsThe change in return on assets against a year earlier. A fall raises the score.	0.026	−0.932	−0.024
Debt or equity issued in the year, 1 or 01 when the company issued shares or debt in the year.	1.000	1.029	1.029
Predicted value			−5.005
Probability of a misstatement			0.67%

Model 1 of Dechow, Ge, Larson and Sloan (2011), estimated on misstatements named in SEC Accounting and Auditing Enforcement Releases. The score is the predicted probability of a misstatement over 0.37%, the unconditional probability in their sample, so 1.00 equals that base rate.

Piotroski F-score

fiscal 2026

A count of 9 yes or no tests on profitability, cash flow, debt, liquidity, new shares, margins and the use of assets. A score of 7 to 9 indicates improving strength and 0 to 3 indicates weakness.

7 of the 9 tests are met, in the high group of 7 to 9.

Signal	FY2026	FY2025
Return on assets above zero	Met	Met
Operating cash flow above zero	Met	Met
Return on assets higher than a year earlier	Met	Met
Operating cash flow above net income	Not met	Met
Long-term debt to assets lower than a year earlier	Met	Met
Current ratio higher than a year earlier	Met	Met
No common equity issued	Not met	Not met
Margin higher than a year earlier	Met	Met
Asset turnover higher than a year earlier	Met	Met

Piotroski (2000), 9 signals on profitability, funding and operating efficiency, designed for companies with high book-to-market ratios. Piotroski grouped scores of 8 and 9 as high and 0 and 1 as low; the findings group 7 to 9 and 0 to 3.

Source Documents

Documents of this snapshot, latest first.

Document	Date	Id
Form 10-Q, period ended 30 September 2026	29 Oct 2026	10-Q:0000319201-26-000034
Form 10-K, period ended 30 June 2026	6 Aug 2026	10-K:0000319201-26-000027
Form 10-Q, period ended 31 March 2026	30 Apr 2026	10-Q:0000319201-26-000016
Form 10-Q, period ended 31 December 2025	30 Jan 2026	10-Q:0000319201-26-000008
Form 10-Q, period ended 30 September 2025	31 Oct 2025	10-Q:0000319201-25-000034
Form 10-K, period ended 30 June 2025	8 Aug 2025	10-K:0000319201-25-000024
Form 10-Q, period ended 31 March 2025	1 May 2025	10-Q:0000319201-25-000012
Form 10-Q, period ended 31 December 2024	31 Jan 2025	10-Q:0000319201-25-000006
Form 10-Q, period ended 30 September 2024	31 Oct 2024	10-Q:0000319201-24-000027
Form 10-K, period ended 30 June 2024	5 Aug 2024	10-K:0000319201-24-000021
Form 10-Q, period ended 31 March 2024	26 Apr 2024	10-Q:0000319201-24-000012
Form 10-Q, period ended 31 December 2023	26 Jan 2024	10-Q:0000319201-24-000006
Form 10-Q, period ended 30 September 2023	27 Oct 2023	10-Q:0000319201-23-000039
Form 10-K, period ended 30 June 2023	4 Aug 2023	10-K:0000319201-23-000031
Form 10-Q, period ended 31 March 2023	28 Apr 2023	10-Q:0000319201-23-000020
Form 10-Q, period ended 31 December 2022	27 Jan 2023	10-Q:0000319201-23-000010
Form 10-Q, period ended 30 September 2022	28 Oct 2022	10-Q:0001628280-22-027311
Form 10-K, period ended 30 June 2022	5 Aug 2022	10-K:0000319201-22-000023
Form 10-Q, period ended 31 March 2022	29 Apr 2022	10-Q:0000319201-22-000012
Form 10-Q, period ended 31 December 2021	28 Jan 2022	10-Q:0000319201-22-000006
Form 10-Q, period ended 30 September 2021	28 Oct 2021	10-Q:0000319201-21-000037
Form 10-K, period ended 30 June 2021	6 Aug 2021	10-K:0000319201-21-000029
Form 10-Q, period ended 31 March 2021	30 Apr 2021	10-Q:0000319201-21-000017
Form 10-Q, period ended 31 December 2020	4 Feb 2021	10-Q:0000319201-21-000008
Form 10-Q, period ended 30 September 2020	30 Oct 2020	10-Q:0000319201-20-000057

Checks

318309 of 318 checks passed, 9 warnings

Fiscal calendar66 passedFiscal years last 350 to 380 days, quarters 80 to 125 days, and each period starts on the day after the one before. Checked at error level.

Quarters and fiscal year149 of 150 passedThe 4 quarters of every item add up to its fiscal year, or a later filing restated the year. Checked at error level; a difference that a later report explains is a warning, which does not stop publication.

Amortisation of intangible assets, FY2023: $261m against $261m

Filer identity1 passedThe documents are those of the company of this page. Checked at error level.

Balance sheet identity25 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Balance sheet structure21 passedTotal assets equal liabilities, temporary equity and total equity. Checked at warning level.

Lease liabilities25 passedLease payments due, less imputed interest, equal the lease liabilities. Checked at warning level.

Debt maturities0 of 4 passedThe debt maturity schedule adds up to the long-term debt. Checked at warning level.

30 Jun 2021: $1,270m against $0

30 Sep 2021: $1,250m against $0

31 Dec 2021: $1,250m against $0

31 Mar 2022: $1,250m against $0

Quarters and 9 months10 passedThe 3 reported quarters of a fiscal year add up to the reported 9-month figure. Checked at error level.

Gross profit1 passedRevenue less cost of revenue equals reported gross profit. Checked at warning level.

Earnings per share6 passedNet income divided by average shares agrees with reported basic earnings per share. Checked at warning level.

Interest and debt0 of 4 passedInterest expense of a fiscal year is between 0.5% and 15% of the average total debt at its opening and closing dates, so that the debt captured carries the interest reported. Checked at warning level.

FY2021: interest expense equals 786.6% of average total debt

FY2022: interest expense equals 801.7% of average total debt

FY2024: interest expense equals 41.5% of average total debt

FY2025: interest expense equals 40.3% of average total debt

Primary statements5 passedEach key figure of the latest fiscal year is a line of the income statement, the balance sheet or the cash flow statement of the annual report. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	1,559
Confirmed by other figures	53.8%, 838 values
Confirmed by a second document	0.0%, 0 values
Derived from reported figures	20.3%, 316 values
Values withheld	0
Restated figures tracked	22
Changes compared on one basis	2
Company lines mapped	0 of 0 reviewed

Citation

Annalist, KLA Corporation, snapshot kla/FY2027Q1_0dedf09d (as of FY2027 Q1); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2027Q1_0dedf09d · dataset SHA-256 0dedf09d220172295ca0435cb17c514a053d924bd34ac40345f4220bc2509ac5 · findings rules 0.5

Data: info.json · dataset.json · validation.json · documents.json