KLA Corp

Company facts

Industry

Optical Instruments & Lenses

Headquarters

Milpitas, California

Most recent report

10-K, filed Aug 6, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 319201

Fiscal year ends

June

Filer status

Large accelerated filer

What to read: FY2026 10-K

SECSift found 5 of 27 sections worth reading, with 5 positive, 10 notable, and 4 negative flags.

• Business (Item 1)

  Contains many company-specific numbers and changes: backlog, customers, revenue mix, headcount.
  Positive

  • Backlog grew from $7.86B to $12.57B in FY2026, driven by AI demand.
  • Employee voluntary turnover improved to under 3.4% in FY2026 from under 3.8% in FY2025.
  Notable

  • Services revenue rose to 23% of total in FY2026, up from 22% in FY2025.
  • TSMC is the only customer >10% in FY2026; Samsung dropped below that threshold.
  • International revenue slipped to 87% in FY2026 from 89% in the prior two years.
  Negative

  • Trade regulations (export controls, tariffs) had an adverse impact on results, no quantification.

• Risk Factors (Item 1A)

  Packed with company-specific numbers: China revenue drop, ERP deadline, debt, tariffs.
  Notable

  • Supreme Court ruling in Feb 2026 creates uncertainty over prior tariffs and refunds.
  • ERP system upgrade has a specific completion deadline: first quarter of fiscal 2027.
  • $2.00B of fixed-rate debt swapped to floating rate via interest rate swaps in FY2026.
  • Recorded goodwill and intangible impairment charges in Q2 FY2025.
  Negative

  • DRAM chip shortage increased purchase commitments in FY2026, hurting gross margin in FY2027.

• Market for the Stock (Item 5)

  Stock split, $7B buyback boost, dividend increase, all company-specific.
  Positive

  • Quarterly dividend raised post-split to $0.230 per share from $0.19 equivalent (FY2025).
  Notable

  • 10-for-1 stock split effected June 11, 2026. All per-share figures retroactively adjusted.
  • Board added $7.00 billion to buyback authorization on March 11, 2026, bringing total to $9.74B remaining.

• Management's Discussion (Item 7)

  MD&A with detailed segment performance, capital returns, and strategic updates.
  Positive

  • Revenue up 12% to $13.58B; net income up 19% to $4.83B in FY2026.
  • $2.29B in buybacks and $1.06B in dividends; $7B authorization boost, $9.74B remaining.
  Notable

  • China revenue flat at $4.05B (29.8% share) due to export controls offsetting legacy investments.
  Negative

  • Purchase commitments more than doubled to $5.97B from $2.42B, majority due within 12 months.

• Financial Statements (Item 8)

  Full audited results with $4.83B net income, segment detail, and key risk items.
  Negative

  • One customer accounted for 19% of total revenues in both FY2026 and FY2025.

What changed: FY2026 vs. FY2025

About 9% of KLAC's FY2026 10-K is new information. 88 paragraphs were added, 386 changed, and 145 removed. Below are the most important lines SECSift identified.

• Financial Statements (Item 8) 155
• Risk Factors (Item 1A) 103
• Management's Discussion (Item 7) 59
• Business (Item 1) 39
• Form 10-K Summary (Item 16) 13
• Market Risk (Item 7A) 7
• Market for the Stock (Item 5) 6
• Other Information (Item 9B) 5
• Properties (Item 2) 1
• Exhibits (Item 15) 1