Stock Analysis on Net
Stock Analysis on Net

KLA Corp. (NASDAQ:KLAC)

Price to FCFE (P/FCFE)

Microsoft Excel

Free Cash Flow to Equity (FCFE)

KLA Corp., FCFE calculation

US$ in thousands

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12 months ended: Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Net income attributable to KLA 2,761,896 3,387,277 3,321,807 2,078,292 1,216,785 1,175,617
Net (income) loss attributable to non-controlling interest — 74 253 (939) (1,760) (600)
Net noncash charges 747,860 272,341 296,053 350,986 651,190 303,958
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions (201,181) 10,113 (305,411) (243,313) (87,365) (326,343)
Net cash provided by operating activities 3,308,575 3,669,805 3,312,702 2,185,026 1,778,850 1,152,632
Capital expenditures (277,384) (341,591) (307,320) (231,628) (152,675) (130,498)
Payment of debt issuance costs — (6,515) — — — —
Proceeds from issuance of debt, net of issuance costs 735,043 — 2,967,409 40,343 741,832 1,183,785
Proceeds from revolving credit facility, net of costs — 300,000 875,000 — 450,000 900,000
Repayment of debt — (1,087,250) (620,000) (70,000) (1,171,033) (902,474)
Free cash flow to equity (FCFE) 3,766,234 2,534,449 6,227,791 1,923,741 1,646,974 2,203,445

Based on: 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), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to KLA Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. KLA Corp. FCFE decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Price to FCFE Ratio, Current

KLA Corp., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 133,759,778
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 3,766,234
FCFE per share 28.16
Current share price (P) 615.66
Valuation Ratio
P/FCFE 21.87
Benchmarks
P/FCFE, Competitors1
Advanced Micro Devices Inc. 201.79
Analog Devices Inc. 25.88
Applied Materials Inc. 18.18
Broadcom Inc. 44.82
First Solar Inc. —
Intel Corp. —
Lam Research Corp. 22.57
Micron Technology Inc. —
NVIDIA Corp. 139.70
Qualcomm Inc. 17.68
Texas Instruments Inc. 47.65
P/FCFE, Sector
Semiconductors & Semiconductor Equipment 118.48
P/FCFE, Industry
Information Technology 51.78

Based on: 10-K (reporting date: 2024-06-30).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

KLA Corp., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
No. shares of common stock outstanding1 134,425,022 136,720,074 141,803,776 152,737,157 155,461,444 159,255,950
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 3,766,234 2,534,449 6,227,791 1,923,741 1,646,974 2,203,445
FCFE per share3 28.02 18.54 43.92 12.60 10.59 13.84
Share price1, 4 703.48 496.47 395.74 353.35 202.85 136.12
Valuation Ratio
P/FCFE5 25.11 26.78 9.01 28.05 19.15 9.84
Benchmarks
P/FCFE, Competitors6
Advanced Micro Devices Inc. — 241.70 33.46 44.72 133.51 —
Analog Devices Inc. — 22.28 24.14 34.67 33.98 37.52
Applied Materials Inc. — 17.53 19.17 27.20 23.21 19.53
Broadcom Inc. — 30.06 14.62 22.35 9.16 5.64
First Solar Inc. — — 61.91 — — —
Intel Corp. — — — 14.25 8.57 16.55
Lam Research Corp. 25.89 18.67 24.95 34.58 16.89 6.14
Micron Technology Inc. — — 18.66 37.24 81.71 13.92
NVIDIA Corp. 65.45 151.07 54.83 35.22 44.24 30.15
Qualcomm Inc. 18.57 11.97 19.13 17.93 34.91 16.39
Texas Instruments Inc. — 37.61 23.88 21.87 24.10 18.77
P/FCFE, Sector
Semiconductors & Semiconductor Equipment — 48.29 29.17 25.08 17.87 14.27
P/FCFE, Industry
Information Technology — 33.47 26.69 27.52 23.46 19.14

Based on: 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), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 3,766,234,000 ÷ 134,425,022 = 28.02

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

5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= 703.48 ÷ 28.02 = 25.11

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. KLA Corp. P/FCFE ratio increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.