Short answer
KLA Corporation (KLAC) filed its fiscal 2025 10-K annual report with the SEC on Aug 8, 2025. It reported revenue of $12.2B (+23.9% year over year) and net income of $4.1B.
- Top risk flagged: Regulatory risk: Impact of more stringent U.S. export controls reducing revenue share from China, which declined from 43% to 33% of total revenues in fiscal 2025
FY2025 key financial metrics · XBRL
- Revenue
- $12.2B
- +23.9% YoY
- Net income
- $4.1B
- +47.1% YoY
- EPS (diluted)
- $30.37
- +49.8% YoY
- ROE
- 86.6%
- +4.6 pp YoY
- Operating cash flow
- $4.1B
- +23.4% YoY
Source: XBRL data from the KLA Corporation (KLAC) FY2025 10-K on SEC EDGAR. USD.
KLA Corporation FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Semiconductor process control and yield management solutions provider
- Patent portfolio expanded to over 8,500 active patents and 3,500 pending applications as of June 30, 2025
- Navigated impact of new U.S. tariffs and foreign countermeasures with non-material effect on FY 2025 results
- No single patent essential to overall business, reflecting diversified IP strategy and emphasis on technology breadth
Management Discussion & Analysis
- Revenue increased in fiscal 2025 driven by growth in services (22% of total revenue) and Taiwan semiconductor demand; revenue from Chinese customers decreased YoY
- Gross margin and overall financial performance improved in fiscal 2025 compared to fiscal 2024 due to higher volume and cost management (exact % not provided)
- Semiconductor Process Control segment is largest, benefiting from AI, advanced packaging and memory investments; Specialty Semiconductor Process and PCB segments less highlighted
- Tariffs and export controls impacted backlog and sales in China but were not material to fiscal 2025 results
- Management highlights risks from technology adoption delays, export restrictions, tariffs, and inventory charges as key concerns for future earnings volatility
Risk Factors
- Regulatory risk: Impact of more stringent U.S. export controls reducing revenue share from China, which declined from 43% to 33% of total revenues in fiscal 2025
- Geopolitical risk: Significant revenue concentration in Asia, especially Taiwan (27% of total revenues in 2025), exposing firm to regional economic and political changes
- Operational risk: $239.1 million goodwill and intangible impairment in PCB and Component Inspection segment due to long-term forecast deterioration and internal reorganization in fiscal 2025
- Competitive risk: Exit from Display business in March 2024 after market deterioration and customer cancellation of technology project, impacting product portfolio and revenue streams
- Financial risk: High leverage with $5.95 billion senior notes outstanding as of June 30, 2025, though leverage ratio at 1.02:1, with $1.50 billion revolving credit facility unused but available
Generated from the filing text; verify against the original. How to read a 10-K
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