Keysight Technologies, Inc. KEYS SPXAI

Technology · Scientific & Technical Instruments · United States

https://www.keysight.com

Keysight Technologies, Inc. provides electronic design and test solutions worldwide. The company operates through Communications Solutions Group and Electronic Industrial Solutions Group segments. It offers electronic design and test software, instrumentation, systems, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of communication systems in wireless, data center ecosystem, enterprise, and aerospace, defense, and government end markets. The company also develops and deploys communications products and services; and operates communications networks. In addition, it provides electronic design, test and simulation software, instrumentation, systems, computer-aided engineering solutions, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of electronic equipment in the automotive and energy, semiconductor solutions, and general electronics industries. Further, the company offers product support; technical and application support for hardware, software, and solutions; and professional services, such as installation, training, engineering, optimization of equipment and solution adoption, utilization, and integration services. Additionally, it provides oscilloscopes; generators, sources and power supplies; software products; analyzers; wireless products; network test and security; modular instruments; meters; network visibility; and other products, as well as KeysightCare support plans, calibration, repair, technology refresh, test as a service, network/security, consulting, financial alternatives, education, software testing, support, managed, device vulnerability analysis, support portal, and used equipment services. Keysight Technologies, Inc. was founded in 1939 and is headquartered in Santa Rosa, California.

Market & Price

Market Cap

$57.77B

Current Price

$338.33

High / Low (52W)

$366.68 / $157.04

Beta

1.26

Valuation

Stock P/E

54.31

Industry PE

32.74

Forward P/E

28.54

PEG Ratio

1.46

Book Value

$37.02

Price to Book

9.14

P/S

9.49

EV/EBITDA

38.24

Dividend Yield

Profitability & Returns

ROCE

12.46%

ROE

18.17%

ROA

6.55%

Profit Margin

17.31%

Op Margin

18.06%

EPS (Latest Qtr)

$2.02

EPS (TTM)

$6.23

Balance Sheet & Liquidity

Debt/Equity

0.44

Quick Ratio

1.30

Current Ratio

1.90

Debt

$2.76B

Total Assets

$11.30B

Current Assets

$4.35B

Working Capital

$2.50B

Ownership

Promoter Holding

0.59%

Chg in Prom Hold

FII / Inst Holding

93.01%

Chg in FII Hold

0.01%

Financial Snapshot

Enterprise Value

$58.20B

Total Revenue (TTM)

$6.09B

EBITDA

$1.52B

Free Cash Flow

$1.14B

Operating Cash Flow

$1.49B

Shares Outstanding

170.74M

Gross Margin

63.67%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-0.28%

Profit 5Y

-8.89%

Revenue (YoY)

31.50%

Earnings (YoY)

35.60%

PROS

Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 54.3.
Revenue declined at -0.3% CAGR over 5 years.
Earnings shrank at -8.9% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	KEYS Keysight Technologies, Inc. SPXAI	338.33	54.31	$57.77B	-	12.46%	18.17%	-0.28%	-8.89%
2	NVDA NVIDIA Corporation NDXSPXAI	211.14	32.38	$5.11T	0.47%	81.14%	114.29%	100.05%	201.80%
3	AAPL Apple Inc. NDXSPX	312.06	37.73	$4.58T	0.35%	68.72%	141.47%	1.81%	3.92%
4	MSFT Microsoft Corporation NDXSPXAI	450.24	26.82	$3.34T	0.81%	26.37%	34.01%	12.42%	11.87%
5	TSM Taiwan Semiconductor Manufacturing Company Limited AI	418.45	35.86	$2.17T	0.91%	32.04%	36.21%	18.94%	19.57%
6	MU Micron Technology, Inc. NDXSPXAI	971.00	45.87	$1.10T	0.06%	14.20%	39.82%	6.71%	-0.57%
7	AMD Advanced Micro Devices, Inc. NDXSPXAI	516.10	172.61	$841.55B	-	6.33%	8.06%	13.64%	48.64%
8	ORCL Oracle Corporation SPXAI	225.78	40.46	$649.35B	0.89%	13.07%	57.57%	10.59%	22.81%
9	ASML ASML Holding N.V. NDXAI	1,612.76	53.76	$621.59B	0.54%	43.81%	52.24%	15.55%	19.55%

Quarterly Results

Figures in USD.

Metric	Jan 2014	Apr 2014	Jul 2014	Jan 2015	Apr 2015	Jul 2015	Jan 2016	Apr 2016	Jul 2016	Jan 2017	Apr 2017	Jul 2017	Jan 2018	Apr 2018	Jul 2018	Jan 2019	Apr 2019	Jul 2019	Jan 2020	Apr 2020	Jul 2020	Jan 2021	Apr 2021	Jul 2021	Jan 2022	Apr 2022	Jul 2022	Jan 2023	Apr 2023	Jul 2023	Jan 2024	Apr 2024	Jul 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.22B	1.30B	1.31B	1.35B	1.42B	1.60B	-
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	478.00M	492.00M	518.00M	550.00M	605.00M	-
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	820.00M	814.00M	834.00M	869.00M	995.00M	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	602.00M	607.00M	600.00M	652.00M	747.00M	-
Operating Income	91.00M	127.00M	121.00M	87.00M	133.00M	100.00M	98.00M	95.00M	106.00M	162.00M	42.00M	-4.00M	-17.00M	86.00M	117.00M	121.00M	185.00M	197.00M	203.00M	102.00M	182.00M	212.00M	235.00M	284.00M	271.00M	327.00M	357.00M	322.00M	354.00M	365.00M	221.00M	177.00M	205.00M	218.00M	207.00M	234.00M	217.00M	248.00M	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	285.00M	408.00M	336.00M	425.00M	332.00M	-
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20.00M	20.00M	28.00M	28.00M	29.00M	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	199.00M	320.00M	241.00M	322.00M	198.00M	-
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30.00M	63.00M	50.00M	70.00M	-83.00M	-
Net Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	260.00M	283.00M	288.00M	172.00M	126.00M	389.00M	169.00M	257.00M	191.00M	233.00M	281.00M	-
Diluted EPS	0.44	0.66	0.64	0.41	0.56	0.41	0.37	0.51	0.53	0.63	0.27	-0.10	0.50	0.34	0.63	0.60	0.80	0.83	0.86	0.37	0.93	0.92	0.99	1.36	1.24	1.41	1.87	1.45	1.58	1.61	0.98	0.72	2.22	-	1.49	1.10	1.33	1.63	2.02
R&D Expense	90.00M	89.00M	91.00M	96.00M	96.00M	90.00M	108.00M	108.00M	104.00M	108.00M	119.00M	132.00M	150.00M	160.00M	154.00M	173.00M	171.00M	168.00M	187.00M	166.00M	169.00M	199.00M	209.00M	207.00M	210.00M	210.00M	206.00M	227.00M	222.00M	215.00M	232.00M	228.00M	226.00M	249.00M	250.00M	250.00M	-	303.00M	-

Profit & Loss (Annual)

Figures in USD.

Metric	Oct 2013	Oct 2014	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Revenue	-	-	-	-	-	-	4.30B	4.22B	4.94B	5.42B	5.46B	4.98B	5.38B
Cost of Revenue	-	-	-	-	-	-	-	-	-	1.97B	1.93B	1.85B	2.04B
Gross Profit	-	-	-	-	-	-	-	-	-	3.45B	3.53B	3.13B	3.34B
Operating Expenses	-	-	-	-	-	-	-	-	-	2.12B	2.17B	2.30B	2.46B
Operating Income	496.00M	469.00M	431.00M	406.00M	148.00M	-394.00M	711.00M	765.00M	1.08B	1.33B	1.36B	833.00M	876.00M
EBITDA	-	-	-	-	-	-	-	-	-	1.59B	1.65B	1.22B	1.45B
Interest Expense	-	-	-	-	-	-	-	-	-	79.00M	78.00M	84.00M	96.00M
Pretax Income	-	-	-	-	-	-	-	-	-	1.28B	1.36B	865.00M	1.08B
Tax Provision	-	-	-	-	-	-	-	-	-	161.00M	300.00M	251.00M	213.00M
Net Income	-	-	-	-	-	-	-	-	-	1.12B	1.06B	614.00M	850.00M
Diluted EPS	2.74	2.35	3.00	1.95	0.56	0.86	3.25	3.31	4.78	6.18	5.91	3.51	4.89
R&D Expense	375.00M	361.00M	387.00M	425.00M	507.00M	624.00M	688.00M	715.00M	811.00M	841.00M	882.00M	919.00M	1.01B

Compounded Sales Growth

5 Years:	-0.28%
1 Year:	31.50%

Compounded Profit Growth

5 Years:	-8.89%
1 Year:	35.60%

Stock Price Performance

1 Year:	+115.44%
6 Months:	+73.09%
3 Months:	+10.09%
1 Month:	+0.86%

Balance Sheet (Annual)

Figures in USD.

Metric	Oct 2012	Oct 2013	Oct 2014	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Total Assets	-	-	3.05B	3.51B	3.80B	5.93B	5.82B	6.62B	7.22B	7.78B	8.10B	8.68B	9.27B	11.30B
Current Assets	-	-	-	-	-	-	-	-	-	-	4.23B	4.81B	4.26B	4.35B
Cash & Equivalents	0	0	810.00M	483.00M	783.00M	818.00M	913.00M	1.60B	1.76B	2.05B	2.04B	2.47B	1.80B	1.87B
Inventory	-	-	-	-	-	-	-	-	-	-	858.00M	985.00M	1.02B	1.05B
Receivables	-	-	-	-	-	-	-	-	-	-	905.00M	900.00M	857.00M	939.00M
Total Liabilities	-	-	2.28B	2.21B	2.28B	3.62B	3.39B	3.62B	3.92B	4.00B	3.94B	4.03B	4.16B	5.42B
Current Liabilities	-	-	769.00M	686.00M	644.00M	819.00M	1.46B	1.00B	1.08B	1.31B	1.41B	2.05B	1.43B	1.85B
Long Term Debt	-	-	1.10B	1.10B	1.09B	2.04B	1.29B	1.79B	1.79B	1.79B	1.79B	1.20B	1.79B	2.53B
Total Debt	-	-	-	-	-	-	-	-	-	-	2.02B	2.03B	2.03B	2.78B
Total Equity	-	-	769.00M	1.30B	1.51B	2.31B	2.43B	3.00B	3.30B	3.78B	4.16B	4.65B	5.11B	5.88B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	199.00M	200.00M	201.01M	202.08M

Cash Flows (Annual)

Figures in USD.

Metric	Oct 2013	Oct 2014	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Operating Cash Flow	566.00M	563.00M	376.00M	420.00M	328.00M	555.00M	998.00M	1.02B	-	1.14B	1.41B	1.05B	1.41B
Investing Cash Flow	-85.00M	-82.00M	-671.00M	-90.00M	-1.72B	-108.00M	-196.00M	-442.00M	-	-251.00M	-288.00M	-819.00M	-1.73B
Financing Cash Flow	-481.00M	335.00M	-19.00M	-29.00M	1.43B	-341.00M	-122.00M	-413.00M	-	-861.00M	-687.00M	-913.00M	385.00M
Capital Expenditure	-69.00M	-70.00M	-92.00M	-91.00M	-72.00M	-132.00M	-120.00M	-117.00M	-	-185.00M	-197.00M	-154.00M	-128.00M
Free Cash Flow	497.00M	493.00M	284.00M	329.00M	256.00M	423.00M	878.00M	899.00M	-	959.00M	1.21B	898.00M	1.28B
Net Change in Cash	-	-	-	-	-	-	-	-	-	32.00M	433.00M	-680.00M	67.00M
Share Buybacks	-	0	0	62.00M	0	120.00M	159.00M	411.00M	673.00M	849.00M	702.00M	439.00M	375.00M

Ratios (Annual)

Figures in %.

Metric	Oct 2013	Oct 2014	Oct 2015	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Gross Margin %	-	-	-	-	-	-	-	-	-	63.7%	64.6%	62.9%	62.1%
Operating Margin %	-	-	-	-	-	-	16.5%	18.1%	21.9%	24.6%	24.9%	16.7%	16.3%
Net Margin %	-	-	-	-	-	-	-	-	-	20.7%	19.3%	12.3%	15.8%
ROE %	-	-	-	-	-	-	-	-	-	27.0%	22.7%	12.0%	14.5%
ROCE %	-	20.6%	15.3%	12.9%	2.9%	-9.0%	12.7%	12.5%	16.7%	19.9%	20.5%	10.6%	9.3%

Shareholding Pattern

Insiders

0.59%

Institutions

93.01%

Public Float

93.56%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	10.85%	18.61M	$6.30B
2	Price (T.Rowe) Associates Inc	8.71%	14.94M	$5.05B
3	Vanguard Capital Management LLC	6.50%	11.16M	$3.77B
4	Vanguard Portfolio Management LLC	5.02%	8.62M	$2.92B
5	State Street Corporation	4.66%	8.00M	$2.71B
6	Geode Capital Management, LLC	2.70%	4.63M	$1.57B
7	Capital World Investors	1.97%	3.37M	$1.14B
8	T. Rowe Price Investment Management, Inc.	1.79%	3.07M	$1.04B
9	Boston Partners	1.64%	2.81M	$950.56M
10	Amundi	1.30%	2.22M	$752.54M

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KEYS · Technology