KLAC vs. ON: KLA vs. ON Semiconductor Stock Comparison

November 11, 2026

How do KLA (KLAC) and ON Semiconductor (ON) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

KLA (KLAC) and ON Semiconductor (ON) both belong to the Semiconductors & Semiconductor Equipment industry, though KLAC is classified under Semiconductor Materials & Equipment while ON falls under Semiconductors.

Company profile comparison for KLA (KLAC) and ON Semiconductor (ON)
Profile Item	KLAC	ON
Name	KLA Corporation	ON Semiconductor Corporation
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Industry	Semiconductors & Semiconductor Equipment	Semiconductors & Semiconductor Equipment
GICS Sub-Industry	Semiconductor Materials & Equipment	Semiconductors
Market Capitalization	180.45 billion USD	24.65 billion USD
Currency	USD	USD
Exchange	Nasdaq	Nasdaq
Listing Date	October 8, 1980	May 2, 2000
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

KLAC

GSPC

KLA (KLAC) vs. ON Semiconductor (ON), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for KLA (KLAC) and ON Semiconductor (ON). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for KLA (KLAC) and ON Semiconductor (ON). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
Total Return (1Y)	26.92%	43.93%
Total Return (3Y, Annualized)	44.97%	2.27%
Total Return (5Y, Annualized)	30.55%	3.42%

Risk Profile

Drawdown History

KLAC

GSPC

KLA (KLAC) vs. ON Semiconductor (ON), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for KLA (KLAC) and ON Semiconductor (ON). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
Volatility (1Y, Annualized)	63.92%	64.26%
Beta (5Y)	1.51	2.14
Max Drawdown (5Y)	-56.93%	-70.44%
Avg. Volume (3M)	10.66M	10.22M

Risk-Adjusted Performance

Risk-Return Positioning

KLAC and ON are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
Sharpe Ratio (1Y)	0.35	0.62
Sortino Ratio (1Y)	0.50	0.88

Profitability

ROE (TTM)

KLA (KLAC) at 91.38% clears its industry range for ROE, a sharper capital-efficiency signal than ON Semiconductor (ON) at 8.91%, which is closer to a typical peer reading.

KLAC

Semiconductors & Semiconductor Equipment industry group

91.38%

KLAC: 91.38%
Max: 52.82%
Q3: 22.26%
Median: 10.58%
Q1: 1.29%
Min: -16.89%

ON

Semiconductors & Semiconductor Equipment industry group

8.91%

Max: 52.82%
Q3: 22.26%
Median: 10.58%
ON: 8.91%
Q1: 1.29%
Min: -16.89%

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their ROE against the Semiconductors & Semiconductor Equipment industry group benchmark.

Net Margin (TTM)

KLA (KLAC) at 36.25% retains a top-quartile share of revenue as profit, ahead of ON Semiconductor (ON) at 10.82%, which keeps about the industry-typical share.

KLAC

Semiconductors & Semiconductor Equipment industry group

36.25%

Max: 63.80%
KLAC: 36.25%
Q3: 28.36%
Median: 11.44%
Q1: 0.90%
Min: -37.77%

ON

Semiconductors & Semiconductor Equipment industry group

10.82%

Max: 63.80%
Q3: 28.36%
Median: 11.44%
ON: 10.82%
Q1: 0.90%
Min: -37.77%

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their net margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Operating Margin (TTM)

KLA (KLAC) at 45.01% operates in the top operating margin quartile, ahead of ON Semiconductor (ON) at 22.23%, which runs around its industry’s norm.

KLAC

Semiconductors & Semiconductor Equipment industry group

45.01%

Max: 58.66%
KLAC: 45.01%
Q3: 30.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

ON

Semiconductors & Semiconductor Equipment industry group

22.23%

Max: 58.66%
Q3: 30.23%
ON: 22.23%
Median: 15.91%
Q1: 7.54%
Min: -25.74%

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their operating margin against the Semiconductors & Semiconductor Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
ROE (TTM)	91.38%	8.91%
ROA (TTM)	22.27%	6.03%
Net Margin (TTM)	36.25%	10.82%
Operating Margin (TTM)	45.01%	22.23%
Gross Margin (TTM)	61.47%	39.90%

Growth

Revenue Growth

KLA (KLAC) at 11.71% is around its peer norm for revenue growth, while ON Semiconductor (ON) at -15.35% drops into the bottom quartile, signaling weaker demand or pricing momentum.

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their Revenue Growth across different time periods.

EPS Growth

KLA (KLAC) at 20.51% is around its peer norm for EPS growth, while ON Semiconductor (ON) at -92.01% drops into the bottom quartile, signaling weaker earnings momentum.

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
Revenue Growth (YoY)	11.71%	-15.35%
Revenue Growth (3Y CAGR)	8.96%	-10.37%
EPS Growth (YoY)	20.51%	-92.01%
EPS Growth (3Y CAGR)	14.87%	-59.10%

Financial Strength

Current Ratio (MRQ)

Both KLA (KLAC) at 2.76 and ON Semiconductor (ON) at 3.55 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

KLAC

Semiconductors & Semiconductor Equipment industry group

2.76

Max: 10.33
Q3: 5.62
Median: 3.33
KLAC: 2.76
Q1: 2.35
Min: 1.03

ON

Semiconductors & Semiconductor Equipment industry group

3.55

Max: 10.33
Q3: 5.62
ON: 3.55
Median: 3.33
Q1: 2.35
Min: 1.03

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their current ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Debt / Equity (MRQ)

ON Semiconductor (ON) at 0.62 carries an industry-typical debt-to-equity mix, while KLA (KLAC) at 0.92 uses more debt funding than most peers.

KLAC

Semiconductors & Semiconductor Equipment industry group

0.92

Max: 1.46
KLAC: 0.92
Q3: 0.65
Median: 0.27
Q1: 0.04
Min: 0.00

ON

Semiconductors & Semiconductor Equipment industry group

0.62

Max: 1.46
Q3: 0.65
ON: 0.62
Median: 0.27
Q1: 0.04
Min: 0.00

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their debt-to-equity ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
Current Ratio (MRQ)	2.76	3.55
Debt / Equity (MRQ)	0.92	0.62
Net Debt / EBITDA	0.19	0.18

Dividends

Dividend Yield (TTM)

ON Semiconductor (ON) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile KLA (KLAC) reports a yield of 0.65%, ranking against industry peers normally.

KLAC

Semiconductors & Semiconductor Equipment industry group

0.65%

Max: 1.37%
Q3: 0.65%
KLAC: 0.65%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 1.37%
Q3: 0.65%
ON: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their dividend yield against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

ON Semiconductor (ON) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile KLA (KLAC) reports a payout of 21.03%, ranking against industry peers normally.

KLAC

Semiconductors & Semiconductor Equipment industry group

21.03%

Max: 49.64%
Q3: 21.71%
KLAC: 21.03%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ON

Semiconductors & Semiconductor Equipment industry group

0.00%

Max: 49.64%
Q3: 21.71%
ON: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their payout ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
Dividend Yield (TTM)	0.65%	0.00%
Dividend Payout Ratio (TTM)	21.03%	0.00%

Valuation

P/E Ratio (TTM)

Both KLA (KLAC) at 34.71 and ON Semiconductor (ON) at 37.02 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

KLAC

Semiconductors & Semiconductor Equipment industry group

34.71

Max: 110.34
Q3: 66.81
Median: 37.02
KLAC: 34.71
Q1: 23.96
Min: 8.12

ON

Semiconductors & Semiconductor Equipment industry group

37.02

Max: 110.34
Q3: 66.81
ON: 37.02
Median: 37.02
Q1: 23.96
Min: 8.12

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their P/E ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/S Ratio (TTM)

ON Semiconductor (ON) at 3.87 is priced about in line with its industry on P/S ratio, while KLA (KLAC) at 12.44 sits in the pricier quartile — KLAC costs more per dollar of sales.

KLAC

Semiconductors & Semiconductor Equipment industry group

12.44

Max: 21.42
KLAC: 12.44
Q3: 12.27
Median: 5.76
Q1: 2.73
Min: 0.00

ON

Semiconductors & Semiconductor Equipment industry group

3.87

Max: 21.42
Q3: 12.27
Median: 5.76
ON: 3.87
Q1: 2.73
Min: 0.00

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their P/S ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

P/B Ratio (MRQ)

ON Semiconductor (ON) at 3.26 sits near its industry’s typical P/B ratio, while KLA (KLAC) at 27.67 prices above its benchmark range — KLAC looks rich relative to book.

KLAC

Semiconductors & Semiconductor Equipment industry group

27.67

KLAC: 27.67
Max: 14.06
Q3: 7.44
Median: 4.29
Q1: 2.30
Min: 0.20

ON

Semiconductors & Semiconductor Equipment industry group

3.26

Max: 14.06
Q3: 7.44
Median: 4.29
ON: 3.26
Q1: 2.30
Min: 0.20

KLA (KLAC) vs. ON Semiconductor (ON): A comparison of their P/B ratio against the Semiconductors & Semiconductor Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for KLA (KLAC) and ON Semiconductor (ON)
Metric	KLAC	ON
P/E Ratio (TTM)	34.71	37.02
P/S Ratio (TTM)	12.44	3.87
P/B Ratio (MRQ)	27.67	3.26
Free Cash Flow Yield (TTM)	1.56%	6.55%