KLA (KLAC) FY2021 results: revenue $6.9 billion, up 19.2% on the year
KLA Corp. (KLAC) reported revenue of $6.9 billion for fiscal 2021, the year ended 30 June 2021, up 19.2% on the year before. Net income was $2.1 billion, up 70.8%, and diluted earnings per share $1.34. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2021.
Revenue
$6.9 billion
+19.2% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$2.1 billion
+70.8% on the year
FY2014FY2021
Diluted EPS
$1.34
+73.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
6,919
5,806
4,569
+19.2%
Cost of revenue
2,772
2,450
1,869
+13.2%
Gross profit
4,147
3,357
2,700
+23.5%
Gross margin
59.9%
57.8%
59.1%
Research and development
928
864
711
+7.5%
Selling, general and administrative
730
734
599
-0.6%
Interest expense
157
160
125
-1.8%
Pre-tax income
2,360
1,317
1,296
+79.3%
Income tax
283
102
121
+178.4%
Effective tax rate
12.0%
7.7%
9.4%
Net income
2,078
1,217
1,176
+70.8%
Net margin
30.0%
21.0%
25.7%
Diluted EPS
$1.34
$0.77
$0.75
+73.6%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,185
1,779
1,153
+22.8%
Capital expenditure
232
153
130
+51.7%
Free cash flow
1,953
1,626
1,022
+20.1%
Free cash flow margin
28.2%
28.0%
22.4%
Cash from investing
-500
-259
-1,181
Cash from financing
-1,498
-1,300
-360
Depreciation and amortisation
333
348
233
-4.2%
Share-based compensation
112
111
94.2
+0.4%
Buybacks
939
829
1,095
+13.2%
Dividends paid
559
522
472
+7.1%
Dividend per share
$0.36
$0.33
$0.30
+9.1%
Diluted shares, weighted
1,554m
1,580m
1,569m
-1.6%
Shares outstanding at period end
1,528m
1,555m
1,595m
-1.7%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
3,378
2,665
2,659
+26.7%
Non-controlling interest
-1.9
15.6
18.6
Debt
3,443
3,470
3,423
-0.8%
Operating lease liabilities
70.7
70.9
n/a
-0.2%
Other liabilities
3,382
3,058
2,907
+10.6%
Total liabilities and equity
10,271
9,280
9,009
+10.7%
Fixed assets
663
520
449
+27.5%
Goodwill
2,011
2,045
2,212
-1.7%
Intangible assets
1,185
1,391
1,561
-14.8%
Investments
n/a
746
723
Securities held for sale or to maturity
1,060
n/a
n/a
Cash and equivalents
1,435
1,234
1,016
+16.2%
Receivables
1,305
1,107
990
+17.9%
Inventory
1,575
1,311
1,262
+20.2%
Other assets
1,036
924
795
+12.1%
Total assets
10,271
9,280
9,009
+10.7%
10-K for the year ended 30 June 2021, filed 6 August 2021: the filing.