Kla's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Kla (KLAC) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Kla vs Its Competitors
- TTM: Trailing 12-month revenue of 13,579M vs 80,872M combined for tracked competitors (14.4% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+7.7% annualized vs trailing 12 months), vs accelerating (+14.6%) for its tracked peer group.
- Growth: Kla generated 15.2% revenue growth year over year in Q4 2026, vs 28.1% for its tracked competitors combined.
- Profitability: Its 37.3% net margin compares with 26.2% for the peer group.
- Scale: Kla ranks #1 of 21 companies by market capitalization in the Scientific & Technical Instruments industry, holding 38.7% of industry market cap.
- Peer revenue share: Kla accounted for 13.6% of combined revenue among its tracked peer group, down from 14.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.80M compares with $1.58M for the peer group (0.5x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
KLAC Sales vs. its Competitors, Q4 2026
Kla reported revenue growth of 15.21 % year on year in Q4 2026, below its competitors' combined revenue growth of 28.09 %.
With a net margin of 37.27 %, Kla achieved higher profitability than its competitors (26.15 %).
Kla generated 13.63 % of the combined sales of its peer group, down from 14.93 % a year earlier.
Kla vs. its Competitors, Q4 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Kla and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Kla Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Kla's competitor groups requires a Commercial License.
For context: the Scientific & Technical Instruments industry grew revenue 12.8% year over year, combined, vs 15.2% for Kla. Kla's share of combined industry revenue moved from 14.43% to 14.74%, a gain of 0.31 percentage points.
Kla's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Kla Corporation | Yes | Yes | Yes | No |
| Competitors combined (32) | ||||
| High-Confidence Competitors (2) | ||||
| Similar-Size Competitors (5) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
KLAC Stock Performance relative to its Competitors
KLAC Stock Performance relative to High-Confidence Competitors
KLAC Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Ase Technology Holding Co Ltd | 282.9% | Outperformed |
| 2 | Formfactor inc | 282.9% | Outperformed |
| 3 | Skywater Technology Inc | 282.9% | Outperformed |
| 4 | Viavi Solutions Inc | 282.9% | Outperformed |
| 5 | Aehr Test Systems | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Kla's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Kla's Comment on Competition and Industry Peers
The worldwide market for process control and yield management systems is highly
competitive. In each of our product markets, we face competition from established
and potential competitors, some of which may have greater financial, research,
engineering, manufacturing and marketing resources than we have, such as Applied
Materials, Inc., ASML Holding N.V. and Hitachi High-Technologies Corporation.
We may also face future competition from new market entrants from other overseas
and domestic sources. We expect our competitors to continue to improve the design
and performance of their current products and processes and to introduce new
products and processes with improved price and performance characteristics.
We believe that, to remain competitive, we will require significant financial
resources to offer a broad range of products, to maintain customer service and
support centers worldwide, and to invest in product and process research and
development.
We believe that, while price and delivery are important competitive factors, the customers’ overriding requirement is for systems that easily and effectively incorporate automated and highly accurate inspection and metrology capabilities into their existing manufacturing processes to enhance productivity. Significant competitive factors in the market for process control and yield management systems include system performance, ease of use, reliability, interoperability with the existing installed base and technical service and support, as well as overall cost of ownership.
Management believes that we are well positioned in the market with respect to both our products and services. However, any loss of competitive position could negatively impact our prices, customer orders, revenues, gross margins and market share, any of which would negatively impact our operating results and financial condition.
Publicly Traded Peers of Kla Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Kla Corporation | 258,509.51 | 13,579.48 |
| Taiwan Semiconductor Manufacturing Company Limited | 2,325,378.42 | 121,423.20 |
| Asml Holding Nv | 702,551.74 | 36,586.96 |
| Lam Research Corporation | 411,043.59 | 23,232.69 |
| Applied Materials Inc | 406,680.00 | 30,837.00 |
| Ase Technology Holding Co Ltd | 96,896.47 | 20,573.41 |
| SUBTOTAL | 4,622,119.14 | 514,024.07 |
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Sources: Kla Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Kla Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Kla's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Onto Innovation Inc | Named by the company | 85% |
| Applied Materials | Named by the company | 85% |
| Hitachi High-Technologies Corporation | Named by the company | 85% |
| Pcb Bancorp | Named by the company | 85% |
| Asml Holding Nv | Named by the company | 85% |
| On Semiconductor Corporation | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Kla's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Kla's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Kla Corporation | Semiconductor Process Control 90.30 % |
| Lam Research Corporation | Reportable 100.00 % |
| Applied Materials Inc | Semiconductor Systems 75.41 % |
| Cadence Design Systems Inc | Reportable 100.00 % |
| Teradyne Inc | Semiconductor Test 84.41 % |
| Agilent Technologies inc | Agilent CrossLab 41.36 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Kla's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Kla Corporation | 258,510 | 798,793 | 284,163 |
| Taiwan Semiconductor Manufacturing Company Limited | 2,325,378 | 1,713,299 | 762,463 |
| Asml Holding Nv | 702,552 | 827,591 | 243,447 |
| Lam Research Corporation | 411,044 | 997,111 | 311,820 |
| Applied Materials Inc | 406,680 | 844,849 | 253,890 |
| Ase Technology Holding Co Ltd | 96,896 | 1,442,938 | 92,106 |
| PEERS TOTAL | 4,363,610 | 1,580,554 | 279,696 |
Kla's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Kla Corporation | Taiwan 25.45 % |
| Asml Holding Nv | Rest of Europe and Middle East 1.43 % |
| Lam Research Corporation | China 33.83 % |
| Applied Materials Inc | Taiwan 27.24 % |
| Cadence Design Systems Inc | United States 46.36 % |
| Teradyne Inc | Asia Pacific 87.20 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Kla's Position in Industry Market Structure
Market-capitalization share and concentration across all 20 companies in Kla's industry classification, broader than the peer set above. Market cap in millions of $.Kla ranks #1 of 20 companies by market capitalization in its industry, holding 38.68 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 3,045, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Kla Corporation | 258,510 | 38.68 % |
| 2 | Thermo Fisher Scientific Inc | 250,948 | 37.55 % |
| 3 | Coherent Corp | 56,994 | 8.53 % |
| 4 | Rockwell Automation Inc | 48,318 | 7.23 % |
| 5 | Onto Innovation Inc | 1,234 | 5.2% |
| 6 | Trimble Inc | 1,234 | 5.2% |
| 7 | Nova Ltd | 1,234 | 5.2% |
| 8 | Camtek Ltd | 1,234 | 5.2% |
| 9 | Mirion Technologies Inc | 1,234 | 5.2% |
| 10 | 908 Devices inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Kla's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-29.
Kla's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Kla Corporation | 258,510 | 84.85 % |
| 2 | Thermo Fisher Scientific Inc | 250,948 | 45.70 % |
| 3 | Coherent Corp | 1,234 | 12.3% |
| 4 | Rockwell Automation Inc | 1,234 | 12.3% |
| 5 | Onto Innovation Inc | 1,234 | 12.3% |
| 6 | Trimble Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Kla's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-29. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Kla's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Scientific & Technical Instruments industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (31 companies). See the full Scientific & Technical Instruments industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 61.30 % | 44.10 % (avg) | +17.2 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 46.50 % | 5.11 % (avg) | +41.4 pp |
| Capital Intensity (Capex / Revenue) | - | 3.13 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Kla's Valuation vs Competitive Position
Valuation multiples vs the Scientific & Technical Instruments industry average (31 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Scientific & Technical Instruments industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 7.8x | 54.1x | -46.4x |
| EV / EBITDA | 45.0x | 26.7x | +18.3x |
| P/B | 51.3x | 5.0x | +46.3x |
| Return on Equity | 88.40 % | industry aggregate | 70.73 % |
| Return on Invested Capital | - | -1.73 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Kla's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 13.34 % | 22.63 % | 15.05 % | 34.46 % | 28.39 % | -7.75 % | 12.15 % | 17.49 % |
| Operating Margin | 39.18 % | 26.24 % | 28.42 % | 38.90 % | 39.86 % | 34.30 % | 31.05 % | 39.75 % |
| Return on Invested Capital | 28.81 % | 13.63 % | 16.76 % | 26.27 % | 33.54 % | 25.02 % | 23.42 % | 30.18 % |
| P/E | 9.3x | 22.4x | 29.8x | 21.1x | 15.8x | 28.4x | 2.8x | 3.7x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Kla's BCG Growth-Share Matrix
Relative market share (vs Kla's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Kla falls in the Cash Cow quadrant: relative market share of 1.03x vs its largest competitor, in an industry growing revenue 7.7% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Kla's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 3,045 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Kla's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Kla's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Kla's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Kla falls in the Medium attractiveness / High strength cell: Invest / Grow.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Kla's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Market leader by capitalization in its industry (#1 of 20, 38.68 % share).
- Return on equity 70.7 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+7.7% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
No rule matched.
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Kla's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Kla Corporation | 0.46 | 2.80 | 1.08 |
| Taiwan Semiconductor Manufacturing Company Limited | 1.82 | 2.51 | 0.02 |
| Asml Holding Nv | - | 1.26 | 0.22 |
| Lam Research Corporation | 0.96 | 2.38 | 0.38 |
| Applied Materials Inc | 0.79 | 2.53 | 0.29 |
| Ase Technology Holding Co Ltd | 0.37 | 1.26 | 0.11 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Kla's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Kla Corporation | Q2 2026 | +15.2 % | +13.3 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +37.6 % | +53.1 % |
| Asml Holding Nv | Q4 2025 | +15.6 % | +26.9 % |
| Lam Research Corporation | Q2 2026 | +30.0 % | +32.4 % |
| Applied Materials Inc | Q2 2026 | +24.8 % | +42.7 % |
| Ase Technology Holding Co Ltd | Q4 2025 | +13.3 % | +27.3 % |
| PEERS TOTAL | +21.7 % | +49.5 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Kla's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Kla Corporation | Q2 2026 | +17.0 % | -11.1 % |
| Taiwan Semiconductor Manufacturing Company Limited | Q4 2025 | +25.7 % | +39.1 % |
| Asml Holding Nv | Q4 2025 | +11.9 % | -21.7 % |
| Lam Research Corporation | Q2 2026 | +25.6 % | +9.6 % |
| Applied Materials Inc | Q2 2026 | +21.1 % | +21.1 % |
| Ase Technology Holding Co Ltd | Q4 2025 | +11.4 % | +129.4 % |
Kla's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Kla Corporation | 28.75% | 37.03% | 88.40% |
| Taiwan Semiconductor Manufacturing Company Limited | 21.37% | 26.29% | 31.41% |
| Asml Holding Nv | 19.00% | 36.53% | 49.00% |
| Lam Research Corporation | 33.19% | 41.27% | 67.41% |
| Applied Materials Inc | 23.70% | 28.79% | 41.02% |
| Ase Technology Holding Co Ltd | 4.63% | 6.38% | 11.18% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Kla's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Kla Corporation | 7.18 | 19.04 |
| Taiwan Semiconductor Manufacturing Company Limited | 83.81 | 19.15 |
| Asml Holding Nv | 73.11 | 19.20 |
| Lam Research Corporation | 56.59 | 17.69 |
| Applied Materials Inc | 43.94 | 13.19 |
| Ase Technology Holding Co Ltd | 75.95 | 4.71 |
| PEERS AVERAGE | 49.49 | 8.99 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.