KLA CORP (KLAC)

Optical Instruments & Lenses

Latest Price

$169.09

TTM P/E

4.79

Normalized P/E

6.53

Div Yield

4.49%

Book Value

44.54

P/B Ratio

3.80

Valuation metrics

EPS: $3.66

Book value / share: $4.86

Formula: √(22.5 × EPS × BVPS)

Graham Number

$20.00

88% downside

Norm. op. income: $3.6B (median of 7yr)

Tax rate: 12%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$21.33

87% downside

Base FCF: $3.3B (median of recent 5yr)

Growth: 15%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$90.95

46% downside

EPS: $3.66

Target P/E: 7×

Formula: EPS × P/E

P/E Fair Value

$25.62

85% downside

91.5% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	126.20M	$38.08B	9.66%	+113.60M	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	85.32M	$25.74B	6.53%	+76.80M	2026-06-30
STATE STREET CORP	62.89M	$18.98B	4.81%	+56.74M	2026-06-30
Capital World Investors	45.32M	$13.67B	3.47%	+41.23M	2026-06-30
Invesco Ltd.	44.85M	$13.53B	3.43%	+43.19M	2026-06-30
FMR LLC	43.01M	$12.97B	3.29%	+38.61M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	39.39M	$11.88B	3.01%	+35.36M	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	36.49M	$10.99B	2.79%	+32.82M	2026-06-30
Capital International Investors	35.56M	$10.71B	2.72%	+32.83M	2026-06-30
GOLDMAN SACHS GROUP INC	20.88M	$6.30B	1.60%	+19.02M	2026-06-30