KLA Corporation (KLAC)
KLA makes the process-control and inspection systems chipmakers rely on to detect defects during semiconductor manufacturing.
Information Technology stock comparison
KLAC vs LRCX: which business are you actually underwriting?
Compare KLA Corporation with Lam Research Corporation using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Information
- Industry
- Different SIC
- Shared themes
- 2
- Updated
- 2026-08-07
KLAC vs LRCX: quick comparison
| Company fact | KLAC | LRCX |
|---|---|---|
| Company | KLA Corporation | Lam Research Corporation |
| Exchange | NASDAQ | NASDAQ |
| SEC industry | Optical Instruments & Lenses | Special Industry Machinery, NEC |
| Fiscal year-end | June 30 | June 28 |
| Latest annual filing | 10-K · 2026-08-06 | 10-K · 2026-08-07 |
KLAC vs LRCX: audited financials
LRCX reported about 1.9× the revenue of KLAC in the latest audited fiscal year. On profitability, KLAC converted a larger share of revenue into net income (33.4% versus 31.3%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | KLAC | LRCX |
|---|---|---|
| Revenue | $12.2B | $23.2B |
| Net income | $4.1B | $7.3B |
| Operating cash flow | $4.1B | $5.9B |
| Diluted EPS | $3.04 | $5.76 |
| Net margin | 33.4% | 31.3% |
KLAC: FY ending 2025-06-30 · LRCX: FY ending 2026-06-28. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
KLAC and LRCX have different SEC industry classifications, but both map to the maintained Tariffs & trade and Artificial intelligence research themes inside the Information Technology sector. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
Lam Research Corporation (LRCX)
Lam Research supplies wafer-fabrication equipment specializing in etch and deposition steps for advanced memory and logic chips.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. KLAC is classified by the SEC as Optical Instruments & Lenses, while LRCX is classified as Special Industry Machinery, NEC. The different industry codes are a warning against treating sector membership as proof of identical economics.
Members-only research
We've published in-depth research on LRCX
LRCX · Jan 30, 2026
Lam Research and the economics of harder-to-build memoryA paid research reconstruction using information available January 30, 2026: NAND conversions, manufacturing complexity, cash conversion and the price of waiting. Includes a separate timing audit and post-mortem.
Sep 22, 2026
Meta jumped 11%. What must happen next to justify the price?A member research report on Meta’s AI rally: Muse, subscription economics, the cash-flow burden, legal costs and the earnings assumptions behind the new price.
The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study KLAC when…
- The AI capital-expenditure cycle
- Interest rates and the cost of long-duration growth
- Enterprise IT budgets and cloud migration
- Export controls and the US–China chip race
Study LRCX when…
- The AI capital-expenditure cycle
- Interest rates and the cost of long-duration growth
- Enterprise IT budgets and cloud migration
- Export controls and the US–China chip race
Shared research themes
Tariffs & tradeArtificial intelligence
SEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable.KLAC's fiscal year ends June 30, while LRCX's ends June 28. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 10matched transaction rows for KLACand 38 for LRCX. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
KLAC primary filings
LRCX primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
KLAC vs LRCX FAQs
Are KLAC and LRCX direct competitors?
KLA Corporation and Lam Research Corporation sit in the same Information Technology sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, KLAC or LRCX?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this KLAC vs LRCX comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers KLA Corporation and Lam Research Corporation tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
KLAC vs LRCX shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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