{"schemaVersion":1,"research":true,"symbol":"klac","name":"KLA","topic":"moat","path":"/stock/klac/moat","status":"published","version":3,"updatedAt":"2026-10-18T12:35:42.682Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"KLA has a narrow moat supported by production-line qualification and integration costs, continuing installed-base service demand, and specialized process-control engineering. Service growth across three fiscal years and disclosed product adoption support a current advantage, although industry investment also explains growth. Realized pricing premiums and sustained price increases are not established. Customer cancellation rights, competitive innovation, actual export-related disruption and component-cost pressure limit durability and pricing freedom.","advantages":[{"mechanism":"switching_costs","claim":"Qualifying, installing and integrating process-control equipment requires significant customer resources, creating friction against replacing an incumbent supplier within a production-line application. Installed-base service growth supports continuing customer dependency, although it does not measure renewal rates.","durability":"Application-specific integration can persist through a production line's operating life. Management's statement that customers rely on selected equipment for extended periods is supported indirectly by service revenue growth of 10%, 15% and 16% in fiscal 2024, 2025 and 2026, respectively; replacement costs and equipment lifetimes are not quantified.","risks":"The same qualification barrier protects competing incumbents. New production lines reopen supplier selection, and export restrictions can prevent KLA from serving existing customers. Orders generally remain cancellable or deferrable with limited or no penalty, so operational dependency does not ensure contractual revenue protection.","invalidation":"Evidence of customers routinely replacing qualified KLA tools without substantial requalification effort, sustained deterioration in service demand after accounting for installed-base utilization and regulatory restrictions, or repeated losses of incumbent production-line applications would undermine this advantage.","competitors":["Applied Materials, Inc.","ASML Holding N.V.","Hitachi High-Tech Corporation","Lasertec, Inc.","Onto Innovation, Inc."],"evidenceIds":["e1","e2","e3","e4","e5","e6","e11","e12"],"counterEvidenceIds":["e10","e13","e14","e17","e18"]},{"mechanism":"intangible_assets","claim":"Specialized inspection, metrology and analytics engineering supports a commercially adopted process-control portfolio. Reported advanced-packaging adoption, inspection demand and growing process-control revenue support a current capability advantage; management's differentiation claims do not establish technical superiority over every competitor.","durability":"Continuing R&D and customer adoption support renewal of the engineering capability, but substantial ongoing investment is necessary. Process-control revenue grew from approximately $8.73 billion in fiscal 2024 to $12.24 billion in fiscal 2026 alongside increased R&D spending. The passages do not establish patent protection, comparative tool performance or durable market-share leadership.","risks":"Named rivals compete on performance, support and ownership cost, and some may have greater resources. Sector spending and AI investment contribute to demand, so revenue growth alone cannot establish share gains. Historical impairments and weaker specialty-process results show that strength does not extend uniformly across the portfolio. Input-cost increases also demonstrate limits to economic insulation.","invalidation":"Repeated failure to win adoption at new technology transitions, sustained loss of process-control demand relative to customer investment, or demonstrated competitor performance parity accompanied by price concessions and displacement would undermine the engineering advantage.","competitors":["Applied Materials, Inc.","ASML Holding N.V.","Hitachi High-Tech Corporation","Lasertec, Inc.","Onto Innovation, Inc."],"evidenceIds":["e7","e8","e9","e11","e12"],"counterEvidenceIds":["e10","e13","e18","e19","e20","e24"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Risk factors / customer equipment qualification, installation and integration","excerpt":"•Semiconductor manufacturers generally must commit significant resources to qualify, install and integrate process control and yield management equipment into a semiconductor production line."},{"id":"e2","sourceId":"filing-1","location":"Risk factors / management belief concerning extended equipment reliance","excerpt":"We believe that once a semiconductor manufacturer selects a particular supplier’s process control and yield management equipment, the manufacturer generally relies upon that equipment for that specific production line application for an extended period of time."},{"id":"e3","sourceId":"filing-1","location":"MD&A / service revenue drivers and renewals","excerpt":"The amount of our service revenues is typically a function of the number of systems installed at our customers’ sites and the utilization of those systems, but it is also impacted by other factors, such as our rate of service contract renewals, the types of systems being serviced and fluctuations in foreign currency exchange rates."},{"id":"e4","sourceId":"filing-1","location":"MD&A / fiscal 2026 service growth","excerpt":"Revenue growth also benefited from higher service revenues, which increased 16% due to growth in our installed base of tools."},{"id":"e5","sourceId":"filing-4","location":"MD&A / fiscal 2025 service growth","excerpt":"The increase in service revenues by 15% in the fiscal year ended June 30, 2025 compared to the prior fiscal year is primarily attributable to the growth of our installed base."},{"id":"e6","sourceId":"filing-5","location":"MD&A / fiscal 2024 service growth","excerpt":"The increase in service revenues by 10% in the fiscal year ended June 30, 2024 compared to the prior fiscal year is primarily attributable to an increase in our installed base."},{"id":"e7","sourceId":"filing-1","location":"Segment reporting / process-control portfolio","excerpt":"Semiconductor Process Control The Semiconductor Process Control segment offers a comprehensive portfolio of inspection, metrology and data analytics products, and related services, which helps IC manufacturers achieve target yield throughout the entire semiconductor fabrication process, from R&D to final volume production."},{"id":"e8","sourceId":"filing-4","location":"MD&A / product adoption and fiscal 2025 demand drivers","excerpt":"The increase in total revenues by 24% in the fiscal year ended June 30, 2025 compared to the prior fiscal year is primarily attributable to the increase in our product revenues and is due to increased investments by leading edge foundries driven by the AI infrastructure buildout, strong customer adoption of our advanced packaging portfolio of products and strong demand for many of our products, especially those in our inspection portfolio, partially offset by a decrease of 4% in revenues from our customers in China."},{"id":"e9","sourceId":"filing-1","location":"Segment reporting / fiscal 2024–2026 revenue, R&D and profit","excerpt":"(In thousands) Semiconductor Process Control Specialty Semiconductor Process PCB and Component Inspection Total For the year ended June 30, 2024 Revenues $ 8,733,556 $ 528,701 $ 552,491 $ 9,814,748 Less: Costs of revenues 3,104,254 245,791 393,531 R&D 1,077,366 40,043 147,867 SG&A 728,349 43,959 116,074 Other segment items (1) 56,014 108,069 365,292 Segment profit (loss) $ 3,767,573 $ 90,839 $ (470,273) $ 3,388,139 For the year ended June 30, 2025 Revenues $ 10,947,359 $ 587,107 $ 621,721 $ 12,156,187 Less: Costs of revenues 3,922,735 283,160 358,847 R&D 1,165,858 47,054 133,487 SG&A 814,074 48,980 102,662 Other segment items (1) 41,946 108,961 307,882 Segment profit (loss) $ 5,002,746 $ 98,952 $ (281,157) $ 4,820,541 For the year ended June 30, 2026 Revenues $ 12,244,733 $ 584,064 $ 750,415 $ 13,579,212 Less: Costs of revenues 4,453,558 305,303 365,120 R&D 1,341,321 59,418 130,166 SG&A 930,850 47,423 100,930 Other segment items (1) 36,174 107,347 46,155 Segment profit $ 5,482,830 $ 64,573 $ 108,044 $ 5,655,447 __________________ (1)Other segment items for each reportable segment includes: •Semiconductor Process Control — amortization of purchased intangible assets and acquisition related expenses."},{"id":"e10","sourceId":"filing-1","location":"Business / competition factors","excerpt":"Competition The worldwide market for technologically advanced process control, process-enabling and yield management solutions used by semiconductor and electronics manufacturers is highly competitive, with important competitive factors including system performance, ease of use, reliability, technical service and support, and overall cost of ownership."},{"id":"e11","sourceId":"filing-1","location":"Business / named competitors","excerpt":"In each of our product markets, we have many competitors, including companies such as Applied Materials, Inc., ASML Holding N.V., Hitachi High-Tech Corporation, Lasertec, Inc."},{"id":"e12","sourceId":"filing-1","location":"Business / named competitor and comparative resource risk","excerpt":"and Onto Innovation, Inc., some of which may have greater financial, research, engineering, manufacturing and marketing resources than we have."},{"id":"e13","sourceId":"filing-1","location":"Business / expected competitor product improvements","excerpt":"We expect our competitors to continue to improve the design and performance of their current products and to introduce new products with improved pricing and performance characteristics."},{"id":"e14","sourceId":"filing-1","location":"Risk factors / customer cancellation and delay rights","excerpt":"During down cycles in our industry, the financial results of our customers may be negatively impacted, which could result not only in a decrease in, or cancellation or delay of, orders (which are generally subject to cancellation or delay by the customer with limited or no penalty) but also a weakening of their financial condition that could impair their ability to pay for our products or our ability to recognize revenue from certain customers."},{"id":"e15","sourceId":"filing-1","location":"Risk factors / volume purchase agreements and incentives","excerpt":"Furthermore, we occasionally enter into volume purchase agreements with our larger customers, and these agreements may provide for certain volume purchase incentives, such as credits toward future purchases."},{"id":"e16","sourceId":"filing-1","location":"Risk factors / potential revenue reductions from purchase incentives","excerpt":"However, these arrangements could require us to recognize a reduced level of revenue for the products that are initially purchased, to account for the potential future credits or other volume purchase incentives."},{"id":"e17","sourceId":"filing-2","location":"Risk factors / realized export-license harm to backlog","excerpt":"Failure to obtain export licenses has harmed and could continue to harm our backlog, requiring us to return substantial deposits received from customers in China for purchase orders, and/or further limiting our ability to meet our contractual obligations and sell our products or provide services to our customers in China."},{"id":"e18","sourceId":"filing-2","location":"Risk factors / potential competitive effects of China export restrictions","excerpt":"In addition, the U.S. export restrictions on semiconductors and semiconductor technology to China and Chinese customers may reduce the need for our products and make it easier for our China-based competitors to develop and sell their own products and take market share from us."},{"id":"e19","sourceId":"filing-2","location":"Risk factors / realized DRAM component shortages and acquisition-cost increases","excerpt":"Recently, a few large suppliers have discontinued manufacturing certain DRAM chips that are incorporated in a number of our products, and the resulting shortage has caused a dramatic increase in the prices to acquire these chips."},{"id":"e20","sourceId":"filing-2","location":"MD&A / component-cost gross-margin pressure and management outlook","excerpt":"Looking ahead, while we expect continued revenue growth in calendar year 2026, escalating costs for DRAM chips used in the Company’s image computers will continue to negatively impact our gross margin, though we expect this impact to be transitory."},{"id":"e21","sourceId":"filing-2","location":"MD&A / quarterly and nine-month gross-margin bridges","excerpt":"The following table summarizes the major factors that contributed to the changes in gross margin: Gross Margin Three Months Ended Nine Months Ended March 31, 2025 61.6% 60.5% Revenue volume of products and services 0.5% 0.4% Mix of products and services sold (0.5)% 0.5% Manufacturing labor, overhead and efficiencies (0.1)% 0.1% Other service and manufacturing costs (0.4)% (0.2)% March 31, 2026 61.1% 61.3% Changes in gross margin from revenue volume of products and services reflect our ability to leverage existing infrastructure to generate higher revenues."},{"id":"e22","sourceId":"filing-3","location":"Pay versus performance / fiscal 2022–2026 operating cash flow, capital expenditure and free cash flow","excerpt":"Free Cash Flow Measures (Dollars in millions) For the twelve months ended June 30, 2022 June 30, 2023 June 30, 2024 June 30, 2025 June 30, 2026 Net cash provided by operating activities $3,312.7 $3,669.8 $3,308.6 $4,081.9 $4,143.1 Less Capital expenditures $ (307.3) $ (341.6) $ (277.4) $ (335.3) $ (375.9) Free cash flow $3,005.4 $3,328.2 $3,031.2 $3,746.6 $3,767.1 Total revenues $9,211.9 $10,496.1 $9,812.2 $12,156.2 $13,579.5 Free cash flow margin 32.6% 31.7% 30.9% 30.8% 27.7% | 2026 Proxy Statement Table of Contents 72 | Executive Compensation Tables Narrative Disclosure to Pay Versus Performance Table Relationship Between Compensation Actually Paid and Total Shareholder Return, Net Income and Free Cash Flow Margin The following charts graphically depict the relationship between compensation actually paid to our PEO and the average of the compensation actually paid to our non-PEO NEOs and each of our cumulative total shareholder return, Peer Index total shareholder return , our net income and free cash flow margin."},{"id":"e23","sourceId":"filing-3","location":"Proxy summary / fiscal 2026 operating results and shareholder distributions","excerpt":"Fiscal Year 2026 Performance Highlights (Dollars in thousands) Total revenues $13,579,476 11.7% from FY25 Net income $4,830,771 18.9% from FY25 Dividends and stock repurchases $3,347,601 9.6% from FY25 | 2026 Proxy Statement Table of Contents 4| Proposal One: Election of Directors Proposal One: Election of Directors NOMINEES Nine incumbent directors are nominated for election at the Annual Meeting."},{"id":"e24","sourceId":"filing-1","location":"Risk factors / historical restructuring, inventory write-offs and fiscal 2025 impairments","excerpt":"Historically, we have recorded restructuring charges related to our prior global workforce reductions, large excess inventory write-offs, and material impairment charges related to our goodwill and purchased intangible assets, such as the goodwill and purchased intangible asset impairment charges recorded in the second quarter of fiscal 2025."},{"id":"e25","sourceId":"filing-3","location":"Executive compensation / fiscal 2026 PRSU performance metric","excerpt":"Our fiscal year 2026 annual PRSUs are tied to three-year Relative Free Cash Flow Margin (as defined below)."},{"id":"e26","sourceId":"filing-3","location":"Executive compensation / earned PRSU service-vesting requirement","excerpt":"Earned PRSUs vest 100% at three years from date of grant, subject to continued service through the vesting date."},{"id":"e27","sourceId":"filing-3","location":"Executive compensation / fiscal 2023 PRSU actual results and completed vesting schedule","excerpt":"The terms of the fiscal year 2023 annual PRSUs, including the target performance and payout level, actual results and vesting schedule, are summarized in the following table: Terms of Fiscal Year 2023 Annual PRSUs Threshold Target Level Maximum Level Actual Results Relative Free Cash Flow Margin performance 30 th percentile 55 th percentile 75 th percentile 75 th percentile Payout level as a percentage of target shares Vesting schedule With respect to the earned fiscal year 2023 annual PRSUs, 50% vested in August 2025 and the remaining 50% vested in August 2026 | 2026 Proxy Statement Table of Contents 52| Executive Compensation and Other Matters The following table sets forth the threshold, target and maximum shares achievable by the NEOs, as well as the actual number of shares earned by them, with respect to the fiscal year 2023 PRSUs (rounded down to the nearest whole share)."},{"id":"e28","sourceId":"filing-3","location":"Executive compensation practices / hedging and pledging prohibition","excerpt":"No hedging and pledging: We prohibit officers, directors and employees from hedging against our stock or pledging our stock."},{"id":"e29","sourceId":"filing-3","location":"Corporate governance / independent director executive sessions","excerpt":"CONDUCTING FORMAL INDEPENDENT DIRECTOR SESSIONS At the conclusion of each regularly scheduled Board meeting, the independent directors meet in an executive session without KLA management or any non-independent directors."},{"id":"e30","sourceId":"filing-3","location":"Board committees / current Audit Committee independence determination","excerpt":"Independence: The Board has determined that each of the members of the Audit Committee meets the independence requirements (including the heightened requirements for Audit Committee members) of NASDAQ and under the rules and regulations of the SEC, and has no material relationship with KLA (including any relationship that, in the opinion of the Board, would interfere with the exercise of independent judgment as a director) outside of their service on the Board and its committees."},{"id":"e31","sourceId":"filing-3","location":"Related-party transactions / Audit Committee review policy","excerpt":"Under this policy, the Audit Committee reviews transactions, arrangements or relationships in which the Company (including any of its subsidiaries) is a participant, the amount involved exceeds $100,000 in any fiscal year, and one of our executive officers, directors, director nominees or 5% stockholders (or their immediate family members) has a direct or indirect material interest (other than solely as a result of being a director or beneficial owner of less than a specified percentage of shares of the other entity (5% for publicly traded entities and 10% for other entities))."},{"id":"e32","sourceId":"filing-3","location":"Governance highlights / shareholder rights and nominee-based board statistics","excerpt":"AC = Audit Committee CTC = Compensation and Talent Committee NGC = Nominating and Governance Committee | 2026 Proxy Statement Table of Contents 3 GOVERNANCE HIGHLIGHTS Board and Governance Information* Size of the Board 9 Independent Chair Yes Number of Independent Directors 8 Proxy Access Yes Average Age of Directors 61.3 Stockholder Action by Written Consent No Average Tenure of Directors 8.7 years Stockholder Ability to Call Special Meeting No Annual Election of Directors Yes Poison Pill No Women/Men 33% / 67% Stock Ownership Guidelines for Directors and Executive Officers Yes Ethnic/Racial Diversity 22% Anti-Hedging and Pledging Policies Yes Majority Voting in Director Elections Yes Clawback Policy Yes * The information in this table reflects only the directors nominated."},{"id":"e33","sourceId":"filing-3","location":"Executive compensation / bonus metric exclusions","excerpt":"For our calendar year 2025 Bonus Plan, “Operating Margin Dollar” represents our total revenues less total costs of revenues, research and development expenses and selling, general and administrative expenses, other than expenses related to acquisitions, goodwill impairment, severance and merger-related items."},{"id":"e34","sourceId":"filing-3","location":"Executive compensation practices / stock ownership guidelines","excerpt":"Stock ownership guidelines: We impose stock ownership guidelines on all executive officers and Outside Directors."},{"id":"e35","sourceId":"filing-1","location":"MD&A / increased purchase commitments to secure components","excerpt":"We have also increased our purchase commitments, in part to secure the supply of key components, which may affect the timing and magnitude of our costs and working capital requirements."}],"changes":["Retain the previous narrow verdict; explicit qualification and integration disclosures strengthen the switching-cost rationale beyond inference from manufacturing integration.","Add three fiscal years of installed-base service growth as indirect evidence of continuing demand, without treating growth as a disclosed renewal rate.","The September 22, 2026 filed proxy supplies actual incentive terms, historical performance-award vesting, cash-generation history and governance practices, permitting supported management grades.","Clarify that export-license failures have already harmed backlog, while future competitor share gains remain a risk rather than a demonstrated outcome.","Keep realized pricing ungraded because the supplied passages establish purchase incentives and cost pressure but do not isolate realized selling-price outcomes."],"limitations":["Only the supplied issuer passages were used. Their dates retain dateKind filed; no retrieval date is treated as a publication date.","Named competitors are disclosed at the company level. Product-by-product overlap, relative performance and market shares are not established; China-based competitors are unnamed.","Extended customer reliance and technical differentiation include management assertions. Operating results support adoption and continuing demand, but do not independently prove comparative superiority or exceptional durability.","No quantified replacement costs, customer renewal rates, same-tool service retention, realized pricing premiums or selling-price bridge are supplied. Growth includes cyclical customer investment.","Ownership guidelines are disclosed, but actual executive ownership and compliance with those guidelines are not supplied.","The proxy's board summary explicitly describes nominees. The November 4, 2026 election and advisory compensation vote are future events, not completed approvals; the assessment instead uses separately disclosed current practices and historical awards.","The evidence does not establish network effects, a relative cost advantage or efficient-scale protection."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":3,"rationale":"Significant qualification and integration resources, supported by continuing installed-base service demand and adopted products, establish meaningful current switching friction and engineering capability. Comparative technology leadership is not quantified.","evidenceIds":["e1","e3","e4","e8","e9"]},{"criterion":"durability","grade":2,"rationale":"Service growth across fiscal 2024–2026 supports persistence, but the extended-reliance statement is management's belief. Continued R&D and competition at new technology transitions make durability conditional.","evidenceIds":["e2","e4","e5","e6","e9","e13"]},{"criterion":"customer_dependency","grade":3,"rationale":"Production-line integration and maintenance demand demonstrate substantial operational dependency. Service growth is indirect retention evidence; customer-level renewals and replacement frequency are absent.","evidenceIds":["e1","e2","e3","e4","e5","e6"]},{"criterion":"erosion_resilience","grade":2,"rationale":"Fiscal 2026 growth and process-control results demonstrate resilience despite disruption. Actual export-related backlog harm, historical impairments and component shortages constrain the assessment; potential rival share gains are not treated as realized losses.","evidenceIds":["e9","e17","e18","e19","e23","e24"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":null,"rationale":"Volume incentives are disclosed, but their actual effect on selling prices is not quantified. Revenue growth, product mix and input-cost changes cannot establish realized pricing outcomes in either direction.","evidenceIds":["e15","e16","e21"]},{"criterion":"retention","grade":3,"rationale":"Qualification friction and three years of growing installed-base service revenue support strong continuing demand indirectly. No renewal rate or same-customer retention rate is inferred, and growth partly reflects additional installed tools.","evidenceIds":["e1","e2","e3","e4","e5","e6"]},{"criterion":"margin_resilience","grade":2,"rationale":"March 2026 quarterly gross margin fell from 61.6% to 61.1%, while nine-month margin rose from 60.5% to 61.3%. The bridge identifies volume, mix and costs, and disclosed DRAM pressure limits resilience. These operating outcomes do not demonstrate price pass-through.","evidenceIds":["e19","e20","e21"]},{"criterion":"contractual_freedom","grade":1,"rationale":"Orders generally permit cancellation or delay with limited or no penalty, and larger-customer agreements can include future purchase credits. These disclosed terms provide weak revenue protection; unilateral repricing rights are not established.","evidenceIds":["e14","e15","e16"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Five years of positive cash generation and fiscal 2026 distributions of approximately $3.35 billion against approximately $3.77 billion of free cash flow support discipline. Historical impairments and write-offs, increased supply commitments and declining free cash flow margin provide counterweights. Buyback valuation effectiveness is unestablished.","evidenceIds":["e22","e23","e24","e35"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Actual PRSU terms link awards to three-year relative free cash flow margin and continued service; historical awards were earned and vested. Ownership guidelines and hedging restrictions support alignment. Bonus exclusions for acquisition, impairment and other charges weaken full economic accountability, and actual ownership compliance is unavailable.","evidenceIds":["e25","e26","e27","e28","e33","e34"]},{"criterion":"execution","grade":3,"rationale":"Reported product adoption, sustained service growth, expanding process-control revenue and higher fiscal 2026 revenue and net income demonstrate strong execution. This is assessed from operating outcomes, which also benefited from customer investment; specialty-process weakness and past impairments prevent an exceptional grade.","evidenceIds":["e4","e5","e6","e8","e9","e23","e24"]},{"criterion":"governance","grade":3,"rationale":"Current independent director sessions, disclosed Audit Committee independence and related-party review procedures support strong governance safeguards. Shareholders lack written-consent and special-meeting rights. Nominee statistics do not establish completion of the forthcoming election, and policy existence does not prove exceptional oversight outcomes.","evidenceIds":["e29","e30","e31","e32"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"671ad9c6ce40a9b66b7e65245cab264d87b7a1d8343c7c15c3f8845358084bc3","updatedAt":"2026-10-18T12:35:42.682Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000027/klac-20260630.htm","publishedAt":"2026-08-06","sha256":"4c043136f914291da60530feaf6f214f11d5fcb95e183f734151df85f4809d3b","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000016/klac-20260331.htm","publishedAt":"2026-04-30","sha256":"78daefb7059bf2d46c975fc6cacb4919c5fb386c2f5af147fed2157d3f234025","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/319201/000119312526397898/d83268ddef14a.htm","publishedAt":"2026-09-22","sha256":"4ae04c0abc25146e62ce58dc6c68436e77a6dd4e0a9a0ab1c17cc80f96a1418e","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920125000024/klac-20250630.htm","publishedAt":"2025-08-08","sha256":"2195562f7afc1a6848712863dbf3c50cdca889a19ed583b9ea84bd5409e34530","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920124000021/klac-20240630.htm","publishedAt":"2024-08-05","sha256":"80325b3ff193864d98f09a56abebd95cf2ea61092ce41b17df7d7cdf450b0ec9","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/319201/000031920126000008/klac-20251231.htm","publishedAt":"2026-01-30","sha256":"ea7b33542068a85bff923a0ea805dc49472192077fd8728cd5cbd4dd0e2b8ce7","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:6a174dc8cad32fc72e4bc294d9a8064ea31b2d77f7a7978683d68283056b2266","usage":{"input_tokens":85101,"cached_input_tokens":0,"cache_write_input_tokens":0,"output_tokens":4447,"reasoning_output_tokens":342}},"signals":[{"period":"2022","end":"2022-06-30","values":{"gross_margin":61.00209913651747,"operating_margin":null,"roic":null,"fcf_margin":32.625056136731224,"sbc_revenue":1.377763916454432},"issues":{"ev_ebitda":"Operating 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