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KLA cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$1.3B in Q1 FY27 · $4.0B over twelve months

Operating cash flow$1.5B
Capital spending−$195M
Free cash flow+$1.3B
Cash / net income1.0×
Cash conversion cycle252 days

Analysis

In Q1 FY27, KLA generated $1.5B of operating cash flow and spent $195M on capital projects, leaving free cash flow of $1.3B. That is $270M more than in Q1 FY26 ($1.1B).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.5B; the largest uses were buybacks ($2.7B), dividends ($1.1B), other investing ($483M); besides operations, cash came from other financing ($98.2M), net borrowing (+) / repaid (−) ($70.4M); the cash balance fell by $414M.

Operating cash flow was $1.5B against net income of $1.5B — 1.0× profit, roughly in line with earnings. The largest differences: inventory −$434M, other liabilities +$222M, receivables −$183M.

Its cash conversion cycle was 252 days (receivables 66 + inventory 226 − payables 40).

Free cash flow

KLA: free cash flow by quarterKLA: free cash flow by quarter$757MQ2 FY25$990MQ3 FY25$1.1BQ4 FY25$1.1BQ1 FY26$1.3BQ2 FY26$622MQ3 FY26$817MQ4 FY26$1.3BQ1 FY27
Operating cash flow less capital spending.
KLA: operating cash flow against capital spendingKLA: operating cash flow against capital spendingOperating cash flowCapital spending$850M$92.3MQ2 FY25$1.1B$82.1MQ3 FY25$1.2B$100MQ4 FY25$1.2B$95.9MQ1 FY26$1.4B$106MQ2 FY26$707M$85.2MQ3 FY26$906M$89.3MQ4 FY26$1.5B$195MQ1 FY27
Latest (Q1 FY27): Operating cash flow $1.5B, Capital spending $195M.

Capital allocation, year by year

KLA: where the cash came from (up) and went (down), by fiscal yearKLA: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $3.3BFY22: Net borrowing $3.2BFY22: Shares issued $113MFY22: Asset sales $27.7MFY22: Capital spending −$307MFY22: Acquisitions −$479MFY22: Buybacks −$4.0BFY22: Dividends −$639M$6.7BFY22FY23: Operating cash flow $3.7BFY23: Net borrowing −$787MFY23: Shares issued $125MFY23: Asset sales $75.4MFY23: Capital spending −$342MFY23: Acquisitions −$27.1MFY23: Buybacks −$1.3BFY23: Dividends −$733M$3.9BFY23FY24: Operating cash flow $3.3BFY24: Net borrowing $735MFY24: Shares issued $145MFY24: Asset sales $5.1MFY24: Capital spending −$277MFY24: Acquisitions −$3.7MFY24: Buybacks −$1.7BFY24: Dividends −$773M$4.2BFY24FY25: Operating cash flow $4.1BFY25: Net borrowing −$750MFY25: Shares issued $152MFY25: Asset sales $161KFY25: Capital spending −$335MFY25: Buybacks −$2.1BFY25: Dividends −$905M$4.2BFY25FY26: Operating cash flow $4.1BFY26: Shares issued $169MFY26: Capital spending −$376MFY26: Buybacks −$2.3BFY26: Dividends −$1.1B$4.3BFY26
Over these 5 years operating cash flow totalled $18.5B; the largest uses were buybacks ($11.5B) and dividends ($4.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.5B
Debt$5.7B
Net debt$4.2B

KLA funds itself: free cash flow was $4.0B over the last twelve months, and $1.5B of cash and investments stands against $5.7B of debt.

Where the cash came from and went

KLA: sources (+) and uses (−) of cash, Q1 FY27KLA: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$1.5BBuybacks−$936MDividends−$305MTaxes on employees’ shares−$239MCapital spending−$195MCash drawn (+) / kept (−)$118MOther investing$16.8MExchange rates$8.7MNet borrowing (+) / repaid (−)$2.6MOther financing−$2.6M
KLA: sources (+) and uses (−) of cash, TTM to Q1 FY27KLA: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$4.5BBuybacks−$2.7BDividends−$1.1BOther investing−$483MCapital spending−$475MCash drawn (+) / kept (−)$414MTaxes on employees’ shares−$363MOther financing$98.2MNet borrowing (+) / repaid (−)$70.4MExchange rates$14.8M

From profit to cash

KLA: net income to operating cash flow, Q1 FY27KLA: net income to operating cash flow, Q1 FY27Net income$1.5BDepreciation & amortization$97.4MStock-based pay$84.1MDeferred taxes−$27.1MReceivables−$183MInventory−$434MPayables$117MDeferred revenue−$67.3MContract assets−$71.4MPrepaid and other assets$177MOther liabilities$222MOperating cash flow$1.5B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY276622640252
Q4 FY266522837256
Q3 FY265822832254
Q2 FY266123831268
Q1 FY266524133273
Q4 FY256324033270
Q3 FY256623733270
Q2 FY256423230265

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$1.5B−$195M−$936M−$305M$2.6M—$118M$1.3B
Q4 FY26$906M−$89.3M−$571M−$305M—$113M$137M$817M
Q3 FY26$707M−$85.2M−$626M−$249M—$1K$665M$622M
Q2 FY26$1.4B−$106M−$548M−$250M$2.8M—−$506M$1.3B
Q1 FY26$1.2B−$95.9M−$545M−$254M——$133M$1.1B
Q4 FY25$1.2B−$100M−$426M−$254M—$104M−$221M$1.1B
Q3 FY25$1.1B−$82.1M−$507M−$226M——−$19.7M$990M
Q2 FY25$850M−$92.3M−$650M−$227M$33.4M—$139M$757M

KLA: income statement and cash flow

KLA, Q1 FY27: revenue $4.1B (+29% year over year), operating margin 44.1%. The chart follows the revenue to costs, profit and cash.

KLA: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.