KLA (KLAC) FY2019 results: revenue $4.6 billion, up 13.2% on the year
KLA Corp. (KLAC) reported revenue of $4.6 billion for fiscal 2019, the year ended 30 June 2019, up 13.2% on the year before. Net income was $1.2 billion, up 46.5%, and diluted earnings per share $0.75. The figures are the company's own, from the 10-K it filed with the SEC on 16 August 2019.
Revenue
$4.6 billion
+13.2% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$1.2 billion
+46.5% on the year
FY2012FY2019
Diluted EPS
$0.75
+46.9% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,569
4,037
3,480
+13.2%
Cost of revenue
1,869
1,447
1,288
+29.2%
Gross profit
2,700
2,589
2,192
+4.3%
Gross margin
59.1%
64.1%
63.0%
Research and development
711
609
527
+16.8%
Selling, general and administrative
599
442
388
+35.5%
Interest expense
125
114
122
+8.9%
Pre-tax income
1,296
1,456
1,173
-11.0%
Income tax
121
654
247
-81.5%
Effective tax rate
9.4%
44.9%
21.1%
Net income
1,176
802
926
+46.5%
Net margin
25.7%
19.9%
26.6%
Diluted EPS
$0.75
$0.51
$0.59
+46.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,153
1,229
1,080
-6.2%
Capital expenditure
130
67.0
38.6
+94.9%
Free cash flow
1,022
1,162
1,041
-12.0%
Free cash flow margin
22.4%
28.8%
29.9%
Cash from investing
-1,181
292
-561
Cash from financing
-360
-1,270
-473
Depreciation and amortisation
233
62.7
57.8
+272.1%
Share-based compensation
94.2
62.8
50.9
+50.0%
Buybacks
1,095
203
25.0
+439.1%
Dividends paid
472
402
344
+17.5%
Dividend per share
$0.30
$0.25
$0.21
+19.0%
Diluted shares, weighted
1,569m
1,574m
1,575m
-0.3%
Shares outstanding at period end
1,595m
1,560m
1,568m
+2.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,659
1,621
1,326
+64.1%
Non-controlling interest
18.6
0.0
n/a
Debt
3,423
2,237
2,930
+53.0%
Other liabilities
2,907
1,781
1,275
+63.3%
Total liabilities and equity
9,009
5,639
5,532
+59.8%
Fixed assets
449
286
284
+56.8%
Goodwill
2,212
355
350
+523.6%
Intangible assets
1,561
19.3
19.0
+7,972.6%
Investments
723
1,476
1,864
-51.0%
Cash and equivalents
1,016
1,404
1,153
-27.7%
Receivables
990
652
571
+51.9%
Inventory
1,262
932
733
+35.5%
Other assets
795
514
559
+54.6%
Total assets
9,009
5,639
5,532
+59.8%
10-K for the year ended 30 June 2019, filed 16 August 2019: the filing.