KEYS

Keysight Technologies
D

KEYS

Arincen75/100B

Keysight Technologies financials

Yes. Keysight Technologies earned 1.26B USD of net income over the last twelve months, 19.1% of its revenue. It made a profit in 15 of its 15 fiscal years since 2011.

Revenue (TTM)
6.58B USD
Net income (TTM)
1.26B USD
Free cash flow (TTM)
1.47B USD
Cash and short-term investments
2.61B USD
Total debt
2.75B USD
Shareholders' equity
6.57B USD

Cash, debt and equity as of 31 Jul 2026.

Keysight Technologies earnings

Next earnings · Q4 FY2026
EPS estimate
3.37 USD
Revenue estimate
1.95B USD
Last quarter · Q3 FY2026
EPS3.07Beat +23.8%Revenue1.85BBeat +5.7%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q1 FY20283.74——+16.52%2.18B——+10.87%
Q2 FY20273.31——+15.32%2.01B——+17.03%
Q1 FY20273.21——+47.77%1.96B——+22.69%
Q4 FY20263.37——+76.44%1.95B——+37.12%
Q3 FY20262.483.07+23.79%+78.49%1.75B1.85B+5.74%+36.54%
Q2 FY20262.322.87+23.71%+68.82%1.71B1.72B+0.66%+31.47%
Q1 FY20262.002.17+8.50%+19.23%1.54B1.60B+3.87%+23.27%
Q4 FY20251.831.91+4.37%+15.76%1.38B1.42B+2.51%+10.26%
Q3 FY20251.671.72+2.99%+9.55%1.32B1.35B+2.60%+11.09%
Q2 FY20251.651.70+3.03%+20.57%1.28B1.31B+1.87%+7.40%

Keysight Technologies growth and profitability

Full income statement
Revenue (TTM)
6.58B USD
Net income (TTM)
1.26B USD
Gross margin
64.69%
Operating margin
20.25%
Net margin
19.14%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY20255.38B+7.95%846.00M+37.79%62.08%16.30%15.74%1.43B+16.98%
FY20244.98B-8.88%614.00M-41.91%62.92%16.73%12.33%1.22B-25.99%
FY20235.46B+0.81%1.06B-5.96%64.64%24.85%19.34%1.65B+3.78%
FY20225.42B+9.69%1.12B+25.73%63.65%24.61%20.74%1.59B+14.83%
FY20214.94B+17.06%894.00M+42.58%62.11%21.86%18.09%1.38B+18.63%

How Keysight Technologies makes its money

Revenue5.38B 100.0%
Cost of revenue2.04B 37.9%
Gross profit3.34B 62.1%
Research and development1.01B 18.7%
Selling and administration1.40B 26.0%
Other operating expenses56.00M 1.0%
Operating income876.00M 16.3%
Tax213.00M 4.0%
Net income846.00M 15.7%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Keysight Technologies revenue breakdown

By product

FY2024
Communications Solutions Group: 68.7%Electronic Industrial Solutions Group: 31.3%68.7%Communications Solutions Group31.3%Electronic Industrial Solutions Group
SegmentRevenueShare of revenueChange on the year
Communications Solutions Group3.42B68.7%-7.2%
Electronic Industrial Solutions Group1.56B31.3%-12.4%

By region

FY2024
Americas: 41.3%Asia Pacific: 40.0%Europe: 18.8%41.3%Americas40.0%Asia Pacific18.8%Europe
RegionRevenueShare of revenueChange on the year
Americas2.06B41.3%-6.8%
Asia Pacific1.99B40.0%-13.6%
Europe934.00M18.8%-2.3%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY20251.41B1.28B
FY20241.05B898.00M
FY20231.41B1.21B
FY20221.14B959.00M
FY20211.32B1.15B
FY20201.02B899.00M
FY2019998.00M878.00M
FY2018555.00M423.00M
FY2017313.00M241.00M
FY2016416.00M325.00M

Keysight Technologies financial health

Full balance sheet
Cash and short-term investments
2.61B USD
Total debt
2.75B USD
Net cash
-141.00M USD
Free cash flow (TTM)
1.47B USD
Current ratio
2.02
Debt to equity
0.42
Piotroski score
7 / 9
Altman Z-score
7.74

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY20251.87B2.78B1.28B
FY20241.80B2.03B898.00M
FY20232.47B2.03B1.21B
FY20222.04B2.02B959.00M
FY20212.05B2.02B1.15B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY202511.29B5.42B5.88B
FY20249.27B4.16B5.11B
FY20238.68B4.03B4.65B
FY20228.10B3.94B4.16B
FY20217.78B4.00B3.78B
FY20207.22B3.92B3.30B
FY20196.62B3.62B3.00B
FY20185.82B3.39B2.43B
FY20175.93B3.62B2.31B
FY20163.80B2.29B1.51B

Keysight Technologies valuation

Price to earnings ratio (TTM)
40.36
Forward P/E (FY2027)
21.28
Price to sales (TTM)
7.58
Price to book
7.59
EV / EBITDA (TTM)
26.90

Capital structure

Market capitalization
49.89B USD
+
Total debt
2.75B USD
−
Cash and short-term investments
2.61B USD
=
Enterprise value
50.03B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)19.04————
FY2027 (est.)21.2819.04———
FY2026 (est.)25.5721.28———
Now (TTM)40.3621.197.587.5926.90
FY202537.3415.975.895.3922.97
FY202442.2121.065.215.0821.46
FY202320.5528.473.984.6712.92
FY202227.9121.235.787.5319.74
FY202137.4824.116.788.8524.21

Keysight Technologies against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Coherent, Teledyne Technologies, Flex, Jabil, Corning, and Fortive, the US Hardware, Equipment & Parts companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median40.4
    18.867.8
  • Gross marginLowest in 5 years62.1%
    62.1%64.6%
    Against its peers: 1 of 7Peers' median 36.4%
  • Operating marginLowest in 5 years16.3%
    16.3%24.9%
    Against its peers: 3 of 7Peers' median 13.8%
  • Net marginBelow its median15.7%
    12.3%20.7%
    Against its peers: 1 of 7Peers' median 10.7%
  • Return on equityBelow its median14.4%
    12.0%27.0%
    Against its peers: 3 of 7Peers' median 11.2%
  • Free cash flow marginHighest in 5 years23.8%
    17.7%23.8%
    Against its peers: 1 of 7Peers' median 6.4%
  • Revenue growthAt its median8.0%
    -8.9%17.1%
    Against its peers: 5 of 7Peers' median 13.6%
  • EPS growthAbove its median39.9%
    -40.6%44.0%
    Against its peers: 3 of 6Peers' median 10.4%
  • Debt to EBITDAHighest in 5 years1.95×
    1.23×1.95×
    Against its peers: 3 of 7Peers' median 2.26×
  • Current ratioBelow its median2.35
    2.353.01
    Against its peers: 2 of 7Peers' median 1.47

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Keysight Technologies ownership

Institutions
89.91%
Institutional holders
1,301 (+123)
Free float
99.33%

Who owns the shares

Institutions 89.9% Others 10.1%
As of 30 Jun 2026

Shares free to trade

Free float 169.11M shares ·99.3% Closely held 1.14M shares ·0.7%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q3 2026061.91K12.23K
Q2 2026030.006.14K
Q1 2026087.83K46.22K
Q4 2025010144.36K141.11K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025173.00M173.00M-1.14%
FY2024174.00M175.00M-2.23%
FY2023178.00M179.00M-1.65%
FY2022180.00M182.00M-2.67%
FY2021185.00M187.00M-1.06%

Common questions about Keysight Technologies's financials

Source: Financial Modeling Prep