KLAC.US

KLA CORP

United StatesConsumerOptical Instruments & LensesNasdaq

153.11

USD · Close 2 Nov 2026

Intrinsic value vs last close

Model estimate

Close above intrinsic value

−60.9%Intrinsic value vs last close

−50%At last close+100%+500%

Last close (USD): 153.11
Intrinsic value (USD): 59.80

Intrinsic value = sector model's value (no adjustment)

Earnings-capitalised value

24.36−84.1%vs last close

Cost of equity 19.2% · price volatility 61.5%

Last year's earnings per share, capitalised at a cost of equity that rises with this share's own price swings, growing at the sector's long-run rate.

This is a different figure from the intrinsic value above. The intrinsic value is what the sector model says the business is worth. On Vietnamese stocks this figure has ranked future returns best in our track record; this market has no track record here yet.

Model reliability: High; Model fitInput stabilityRisk checks; High requires the model’s diagnostic criteria to be met.
Probability of outperforming peers: 52.3%; 12 monthsHistorical calibration; Chance the return beats the median return of its sector peers.

Assessed 2 Nov 2026Not updated with daily prices

These assessments address different questions. Neither establishes that the displayed valuation is correct or guarantees a future return.

Published filingsValued 2 Nov 2026Anchored to close on 2 Nov 2026The gap is recalculated when the close changes; the value updates weekly.

Valuation Breakdown

Optical Instruments & Lenses→Consumer

Classified as consumer from the industry its market data reports: “Optical Instruments & Lenses”.

ModelFCF-Based DCF

Intrinsic = 70% x DCF Value + 30% x (Fair P/E x EPS)

A Discounted Cash Flow model built on Free Cash Flow (FCF), the cash a business generates after operating expenses and capital expenditures. Future FCF is projected for 10 years with gradually decaying growth, then discounted to today's value using WACC. The DCF value is blended 70/30 with a value from the company's own historical P/E.

Technical details

Why this model

Consumer staples/retail generate steady, predictable free cash flows, making them ideal for DCF. The time value of money principle means a dollar today is worth more than a dollar tomorrow. DCF captures this by discounting future cash flows at a rate reflecting the investment's risk (WACC).

How it works

Takes 3-year median FCF as the base. Estimates growth via ROIC x reinvestment rate (Damodaran framework), falling back to historical revenue growth. Projects 10 years with decay toward the sector's long-run growth rate. Discounts at CAPM-derived WACC. Blends 70% of the DCF value with 30% of a P/E value: the company's 5-year median P/E, held between 5x and 25x, times EPS.

Best for

Stable consumer businesses (food, beverage, retail, healthcare) with predictable, positive free cash flows.

Weighted Avg Cost of Capital

Risk-Free (Rf)

4.94%

Betasector default

1.592

ERP

4.20%

CRP

0.22%

Cost of Equity (Ke)

11.84%

E/(D+E)

44.37%

Kd(1-t)

4.37%

D/(D+E)

55.63%

WACC

8.00%

Growth Estimate

fundamental firm blend4.84%

Growth decays 10%/yr toward terminal

Model Inputs

Base FCF→4.00B

Projection years→10

Valuation

We compare the sector model's value with the last close. This market has no track record here yet, so the value is shown as the model gives it.

Last close (USD)→153.11

Intrinsic value vs last close→−60.9%

Intrinsic value = sector model's value (no adjustment)

Intrinsic value (USD)

59.80

What feeds each step— click a source to highlight it in the statements

Discount rate (WACC)8.00%

Growth rate4.84%growth method: fundamental firm blend

Base cash flow4.0Bone off strip ratio: 0

DCF Sensitivity

Values from the standalone DCF scenarios below. These scenarios leave out the other parts of a blended model and do not reproduce the headline value.

WACC \ Growth	1.8%	3.3%	4.8%	6.3%	7.8%
6.0%	153.09	155.39	158.24	165.56	176.55
7.0%	100.98	102.51	104.40	109.23	116.40
8.0%	74.92	76.07	77.49	81.06	86.34
9.0%	59.29	60.21	61.34	64.16	68.30
10.0%	48.86	49.63	50.57	52.90	56.28

Above market priceBelow market priceCurrent estimate

Feeds valuation:Cost of capitalGrowthModel inputsFinal calculation

Line item	2026	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Cash and cash equivalentsNet debt bridge	1,650	2,079	1,977	1,928	1,585	1,435	1,234	1,016	1,404	1,153	1,108	838	631	985	751	711	530	525	1,128
Short-term investmentsNet debt bridge	·	·	·	·	·	·	746	723	1,476	1,864	1,383	1,549	2,522	1,933	1,783	1,327	1,004	·	·
Inventories, Net	3,649	3,212	3,035	2,877	2,147	1,575	1,311	1,263	932	733	699	618	656	634	651	576	402	·	·
Fixed assets	1,381	1,253	1,110	1,032	850	663	520	449	286	284	278	315	330	305	278	257	237	·	·
TOTAL ASSETS	17,952	16,068	15,434	14,072	12,597	10,271	9,280	9,009	5,619	5,532	4,962	4,826	5,539	5,287	5,100	4,676	3,907	·	·
Short-term borrowingsDiscount rate (WACC) +1	·	0.00	750	0.00	0.00	20	0.00	250	0.00	250	0.00	17	0.00	·	·	·	·	·	·
Long-term borrowingsDiscount rate (WACC) +1	5,887	5,884	5,880	5,891	6,661	3,423	3,470	3,173	2,237	2,680	3,058	3,173	745	·	·	·	·	·	·
OWNER'S EQUITYDiscount rate (WACC)	6,350	4,692	3,368	2,920	1,399	3,376	2,681	2,678	1,621	1,326	689	421	3,669	3,482	3,316	2,861	2,247	2,184	2,982
MINORITY INTERESTSNet debt bridge	·	·	·	0.00	−2	−2	16	19	0.00	·	·	·	·	·	·	·	·	·	·

Earnings Quality

Fiscal year 2026

Fair

Accrual QualityLow accruals vs reported earnings

Cash ConversionOperating cash flow vs net income

Margin StabilityConsistency of profit margins

Revenue QualityConsistency of revenue growth

Quantitative Scores

F-Score

5/9

Neutral

Sharpe

0.39

Positive

Composite

50 to 69

Piotroski F-Score Breakdown

✓Net Income > 0

✓Operating CF > 0

✓ROA Rising

✗OCF > Net Income

✓Lower Leverage

✗Better Liquidity

✓No Dilution

✗Margin Up

✗Turnover Up

Price Risk

Momentum

+70.4%

Volatility

65.8%

Max Drawdown

−51.7%

Key Ratios

Fiscal year 2026

43.46P/E

P/B: 33.04
P/S: 15.45
ROE: 76.1%
EPS: 3.68
BVPS: 4.84
Net Margin: 35.6%
D/E: 0.93
Rev Growth: +11.7%
EV/EBITDA: 34.06
Div Yield: —

Company Overview

Shares outstanding: 1,303M
Industry: Optical Instruments & Lenses

Computed 02/11/2026