Common-Size Income Statement
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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KLA Corp., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-K (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30).
- Revenue Composition
- The proportion of product revenues generally increased over the period, rising from about 75.85% in September 2018 to a peak around 82.56% in December 2022 before fluctuating downward to approximately 78.15% in March 2025. Service revenues followed an inverse pattern, decreasing from roughly 24.15% in September 2018 to a low of 17.44% in December 2022, then recovering somewhat to about 21.85% by March 2025.
- Costs and Gross Margin
- The cost of revenues as a percentage of revenues rose sharply from -34.89% in September 2018 to a peak near -47.1% in June 2019, indicating increased cost pressures during that period. Subsequently, costs declined and stabilized around the -39% to -40% range from 2020 onward, with a slight upward spike back toward -42.12% in December 2023. Correspondingly, the gross margin saw a pronounced drop to approximately 52.9% in June 2019 but rebounded and remained relatively stable, averaging around 60% in the later years, despite a slight dip in late 2023.
- Research and Development Expenses
- R&D expenses as a percentage of revenues exhibited a downward trend over the time series. Starting at around -14.04% in September 2018, they decreased steadily to near -11% from 2022 onward, reflecting a relative reduction in R&D spending intensity as a share of revenues.
- Selling, General, and Administrative Expenses
- SG&A expenses showed a marked improvement over time, decreasing from approximately -10.47% in September 2018 to levels near -8% by the end of the series. There were fluctuations, including a peak near -16.6% in March 2019, but the overall trend was toward reduced SG&A burden relative to revenues.
- Impairment Charges
- Notable one-time impairment charges impacted the financials in selected quarters as a percentage of revenues: a significant charge of -18.02% in the March 2020 quarter, followed by smaller impairments of -8.81% and -2.99% in late 2023, and another charge of -7.77% in March 2025. These charges indicate occasional asset write-downs affecting profitability in those periods.
- Income from Operations
- Operating income exhibited volatility with a sharp dip during early 2020 due to increased costs and impairments, reaching a low of 12.36% in March 2020. After that, operating income recovered strongly, maintaining a range mostly between 35% and 42%, with some fluctuations reflecting the underlying cost and revenue dynamics and occasional impairments.
- Interest Expense and Debt-Related Charges
- Interest expense remained relatively stable, generally ranging from -1.6% to -3.4% of revenues. There was a slight downward trend in the latter part of the period, but spikes near -3.4% occurred as well. There were also isolated loss on extinguishment of debt charges noted in the first quarter of 2020 (-1.58%) and late 2022 (-0.49%), reflecting debt restructuring activities impacting financial costs.
- Other Income (Expense), Net
- Other income and expense items fluctuated but generally contributed positive amounts to pre-tax income in most quarters, except for some negative periods in 2020 and 2021. The trend demonstrated improved other income effects in recent quarters, with amounts up to nearly 2% of revenues, providing a modest boost to earnings.
- Income Before Income Taxes
- Pre-tax income followed a pattern similar to operating income, with a trough in early 2020 and recovery thereafter. Values ranged from lows near 8% in March 2020 to peaks exceeding 40% in late 2024 and early 2025, indicating strong profitability after accounting for interest and other items.
- Income Tax Provision
- The tax provision as a percentage of revenues was generally negative, reflecting tax expenses ranging from around -1% to -5%. Some exceptional quarters showed unusual tax benefits or higher charges, such as a substantial tax benefit (approximately 14.5%) in September 2021 and more pronounced tax expenses in related quarters. These fluctuations suggest variability in tax rate impacts and one-time tax effects.
- Net Income
- Net income trends largely mirrored pre-tax income and tax effects. Net income as a percentage of revenues fluctuated significantly, with a notable dip to around 5.48% in March 2020 coinciding with impairment and cost spikes, followed by recovery to levels around 30% or more in most recent quarters. The exceptional net income magnitude of about 51.27% in September 2021 reflects an unusual positive event, likely tax or impairment-related, boosting net profitability substantially in that period.
- Attribution of Net Income
- The net income attributable to the parent company closely tracked overall net income, with only marginal differences due to non-controlling interests, which were negligible throughout the period.