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Sentiment · FY2026 Q4
KLA posted Q3 FY2026 (March quarter) revenue of $3.415 billion, up 11% year-over-year and 4% sequentially, with non-GAAP EPS of $9.40 as AI-driven semiconductor demand accelerated. Advanced packaging revenue acceleration continued, and process control market share gains expanded across the portfolio. The WFE market outlook strengthened to $140B+ for calendar 2026, with the services business growing 16% to $775 million. DRAM pricing headwinds persisted on gross margins, and China market moderation reflected trade restriction impacts. The June quarter was guided to $3.575 billion.
Demand | Competitive Dynamics | Innovation & R&D | Revenue Growth | Capex Investment | Trade Tariffs | Margin | Supply Chain | |
|---|---|---|---|---|---|---|---|---|
| 2025Q2 | 10 | 8 | 4 | 9 | 2 | 5 | 1 | |
| 2025Q3 | 6 | 3 | 5 | 4 | 4 | 6 | 4 | 3 |
| 2025Q4 | 9 | 6 | 7 | 3 | 2 | 3 | 1 | |
| 2026Q1 | 12 | 8 | 7 | 2 | 7 | 3 | 2 | |
| 2026Q2 | 11 | 9 | 4 | 4 | 4 | 3 | 2 | 3 |
| 2026Q3 | 8 | 5 | 2 | 7 | 9 | 1 | 2 | 3 |
| '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|
| Demand | 10 | 6 | 9 | 12 | 11 | 8 |
| Competitive Dynamics | 8 | 3 | 6 | 8 | 9 | 5 |
| Innovation & R&D | 4 | 5 | 7 | 7 | 4 | 2 |
| Revenue Growth | 9 | 4 | 3 | 2 | 4 | 7 |
| Capex Investment | 2 | 4 | 2 | 7 | 4 | 9 |
| Trade Tariffs | 5 | 6 | 3 | 3 | 3 | 1 |
| Margin | 1 | 4 | 1 | 2 | 2 | 2 |
| Supply Chain | 3 | 3 | 3 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $2.84B | +18.5% | $0.70 | +29.6% | 59.6% | 39.4% | 33.3% | $935M |
| FY2025 Q2 | $3.08B | +23.7% | $0.61 | +43.2% | 60.3% | 40.4% | 26.8% | $757M |
| FY2025 Q3 | $3.06B | +30.0% | $0.82 |
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Harlan Sur | JPMorgan | 14 (0%) |
| Tim Arcuri | UBS | 14 (43%) |
| CJ Muse | Cantor Fitzgerald | 13 |
| +84.2% |
| 61.6% |
| 42.5% |
| 35.5% |
| $987M |
| FY2025 Q4 | $3.17B | +23.7% | $0.91 | +46.6% | 62.0% | 42.6% | 37.9% | $1.06B |
| FY2026 Q1 | $3.21B | +13.0% | $0.85 | +20.8% | 61.3% | 41.7% | 34.9% | $1.07B |
| FY2026 Q2 | $3.30B | +7.2% | $0.87 | +41.6% | 61.4% | 41.3% | 34.7% | $1.26B |
| FY2026 Q3 | $3.42B | +11.5% | $0.91 | +11.5% | 61.1% | 41.2% | 35.2% | $622M |
| FY2026 Q4 | $3.66B | +15.2% | $1.04 | +14.8% | 61.4% | 42.5% | 37.3% | $817M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Joe Quatrochi | Wells Fargo | 13 (0%) |
| Krish Sankar | TD Cowen | 10 (20%) |
| Shane Brett | Morgan Stanley | 9 (0%) |
| Tom O'Malley | Barclays | 9 (11%) |
| Vivek Arya | Bank of America | 9 (11%) |
| Chris Caso | Wolfe Research | 8 (0%) |
| Charles Shi | Needham | 8 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 14 (0%) |
| UBS | 1 | 14 (43%) |
| Cantor Fitzgerald | 1 | 13 (0%) |
| Wells Fargo | 1 | 13 (0%) |
| TD Cowen | 2 | 12 (17%) |
| Bank of America | 2 | 11 (9%) |
| Barclays | 1 | 9 (11%) |
| Morgan Stanley | 1 | 9 (0%) |
What KLAC and other companies said about each other on FY2026 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Intel was public about increasing their metrology usage as you heard on their call.”
KLA notes Intel publicly discussed increasing its metrology usage to lift yield on existing capacity, a positive process-control demand read-through and a sign of Intel investing in prior-node output.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
KLAC KLA Corporation | 7 | +11.5% | |
| ADI Analog Devices | 9 | +30.4% | |
| ALAB Astera Labs, Inc. Common Stock | 9 | +93.4% | |
| AMAT Applied Materials | 5 | -2.1% | |
| AMD Advanced Micro Devices, Inc. | 9 | +37.9% | |
| ARM Arm Holdings | 7 | +20.1% | |
| ASML ASML Holding | 9 | +13.3% | |
| AVGO Broadcom Inc. | 9 | +29.5% | |
| INTC Intel Corporation | 6 | +7.2% | |
| LRCX Lam Research | 9 | +23.8% | |
| MCHP Microchip Technology | 9 | +35.1% | |
| MPWR Monolithic Power Systems | 10 | +26.1% | |
| MRVL Marvell Technology | 10 | +22.1% | |
| MU Micron Technology, Inc. | 9 | +196.3% | |
| NVDA NVIDIA Corporation | 10 | +73.2% | |
| NXPI NXP Semiconductors | 7 | +12.2% | |
| ON ON Semiconductor | 6 | +4.7% | |
| Q Qnity Electronics, Inc. | 10 | +17.6% | |
| QCOM Qualcomm | 3 | -3.5% | |
| SWKS Skyworks Solutions | 3 | -1.0% | |
| TER Teradyne | 9 | +87.0% | |
| TXN Texas Instruments | 9 | +18.6% |