KLA (KLAC) FY2020 results: revenue $5.8 billion, up 27.1% on the year
KLA Corp. (KLAC) reported revenue of $5.8 billion for fiscal 2020, the year ended 30 June 2020, up 27.1% on the year before. Net income was $1.2 billion, up 3.5%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 10 August 2020.
Revenue
$5.8 billion
+27.1% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$1.2 billion
+3.5% on the year
FY2013FY2020
Diluted EPS
$0.77
+2.8% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
5,806
4,569
4,037
+27.1%
Cost of revenue
2,450
1,869
1,447
+31.0%
Gross profit
3,357
2,700
2,589
+24.4%
Gross margin
57.8%
59.1%
64.1%
Research and development
864
711
609
+21.5%
Selling, general and administrative
734
599
442
+22.5%
Interest expense
160
125
114
+28.6%
Pre-tax income
1,317
1,296
1,456
+1.6%
Income tax
102
121
654
-16.1%
Effective tax rate
7.7%
9.4%
44.9%
Net income
1,217
1,176
802
+3.5%
Net margin
21.0%
25.7%
19.9%
Diluted EPS
$0.77
$0.75
$0.51
+2.8%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,779
1,153
1,229
+54.3%
Capital expenditure
153
130
67.0
+17.0%
Free cash flow
1,626
1,022
1,162
+59.1%
Free cash flow margin
28.0%
22.4%
28.8%
Cash from investing
-259
-1,181
292
Cash from financing
-1,300
-360
-1,270
Depreciation and amortisation
348
233
62.7
+49.2%
Share-based compensation
111
94.2
62.8
+18.2%
Buybacks
829
1,095
203
-24.3%
Dividends paid
522
472
402
+10.6%
Dividend per share
$0.33
$0.30
$0.25
+10.0%
Diluted shares, weighted
1,580m
1,569m
1,574m
+0.7%
Shares outstanding at period end
1,555m
1,595m
1,560m
-2.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,665
2,659
1,621
+0.2%
Non-controlling interest
15.6
18.6
0.0
-16.1%
Debt
3,470
3,423
2,237
+1.4%
Operating lease liabilities
70.9
n/a
n/a
Other liabilities
3,058
2,907
1,781
+5.2%
Total liabilities and equity
9,280
9,009
5,639
+3.0%
Fixed assets
520
449
286
+15.8%
Goodwill
2,045
2,212
355
-7.5%
Intangible assets
1,391
1,561
19.3
-10.8%
Investments
746
723
1,476
+3.1%
Cash and equivalents
1,234
1,016
1,404
+21.5%
Receivables
1,107
990
652
+11.8%
Inventory
1,311
1,262
932
+3.8%
Other assets
924
795
514
+16.3%
Total assets
9,280
9,009
5,639
+3.0%
10-K for the year ended 30 June 2020, filed 10 August 2020: the filing.