KLA Corporation (KLAC)
KLA makes the process-control and inspection systems chipmakers rely on to detect defects during semiconductor manufacturing.
KLAC vs SMCI: how the two businesses compare
- Bigger business: SMCI, with $22.0B of yearly revenue, about 1.8× KLAC's $12.2B.
- More profitable: KLAC keeps 33 cents of each sales dollar as profit, against 5 cents at SMCI.
- More cash from each sale: KLAC turns 34 cents of each sales dollar into operating cash flow, against 8 cents at SMCI.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Super Micro Computer (SMCI) is the larger business by reported revenue: $22.0B in its fiscal year ended Jun 2025, about 1.8× KLAC's $12.2B (fiscal year ended Jun 2025). KLAC's net margin was 33.4% and SMCI's 4.8%. The SEC classifies them differently (Optical Instruments & Lenses; Electronic Computers); what connects them is shared exposure to the Tariffs & trade and Artificial intelligence research themes, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Information Technology
- Different
- Separate classifications
- June 30
- Same calendar
- Aug 31, 2026
KLAC vs SMCI: quick comparison
| Company fact | KLAC | SMCI |
|---|---|---|
| Company | KLA Corporation | Super Micro Computer, Inc. |
| Exchange | NASDAQ | NASDAQ |
| SEC industry | Optical Instruments & Lenses | Electronic Computers |
| Fiscal year-end | June 30 | June 30 |
| Latest annual filing | 10-K · 2026-08-06 | 10-K · 2026-08-31 |
KLAC vs SMCI: audited financials
- Scale: SMCI's $22.0B of revenue is about 1.8× KLAC's $12.2B.
- Net margin: KLAC kept 33.4% of revenue as net income versus 4.8% at SMCI.
- Cash conversion: operating cash flow equalled KLAC 33.6% of revenue, or 1.00× net income; SMCI 7.6% of revenue, or 1.58× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: both fiscal years end on 2025-06-30, so these annual figures cover the same months.
| Metric | KLAC | SMCI |
|---|---|---|
| Revenue | $12.2B2024-07-01 to 2025-06-30 · SEC filing | $22.0B2024-07-01 to 2025-06-30 · SEC filing |
| Net income | $4.1B2024-07-01 to 2025-06-30 · SEC filing | $1.0B2024-07-01 to 2025-06-30 · SEC filing |
| Operating cash flow | $4.1B2024-07-01 to 2025-06-30 · SEC filing | $1.7B2024-07-01 to 2025-06-30 · SEC filing |
| Diluted EPS | $3.042024-07-01 to 2025-06-30 · SEC filing | $1.682024-07-01 to 2025-06-30 · SEC filing |
| Net margin | 33.4%2024-07-01 to 2025-06-30 · SEC filing | 4.8%2024-07-01 to 2025-06-30 · SEC filing |
KLAC: FY ending 2025-06-30 · SMCI: FY ending 2025-06-30. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where KLAC and SMCI overlap, and where they don't
Overlap
- Shared research themes: Tariffs & trade and Artificial intelligence.
- Same fiscal calendar: both fiscal years end June 30.
Differences
- Different SEC industries: KLAC files as Optical Instruments & Lenses; SMCI as Electronic Computers.
- Scale: SMCI reported about 1.8× the annual revenue of KLAC.
- Profitability: net margin of 33.4% for KLAC versus 4.8% for SMCI.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Super Micro Computer, Inc. (SMCI)
Super Micro Computer builds high-performance servers and storage systems tailored for AI and data-center workloads.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves KLAC
We have not yet published a company-specific driver list for KLAC. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-08-06.
What moves SMCI
We have not yet published a company-specific driver list for SMCI. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-08-31.
The investment question
You now know SMCI reports about 1.8× KLAC's revenue, and KLAC keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to tariffs & trade and artificial intelligence, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end June 30, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 10 matched transaction rows for KLAC and 11 matched transaction rows for SMCI. 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
SMCI 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 SMCI FAQs
Are KLAC and SMCI direct competitors?
Not necessarily. KLA files as Optical Instruments & Lenses and Super Micro Computer as Electronic Computers. The pair is compared because both map to the Tariffs & trade and Artificial intelligence research themes, not because the filings show head-to-head competition.
Is KLAC or SMCI the bigger company by revenue?
Super Micro Computer (SMCI) is the larger business by reported revenue: $22.0B in its fiscal year ended Jun 2025, about 1.8× KLAC's $12.2B (fiscal year ended Jun 2025). KLAC's net margin was 33.4% and SMCI's 4.8%. The SEC classifies them differently (Optical Instruments & Lenses; Electronic Computers); what connects them is shared exposure to the Tariffs & trade and Artificial intelligence research themes, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, KLAC or SMCI?
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 SMCI 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 Super Micro Computer, Inc. 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 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
KLAC vs SMCI compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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