Keysight Technologies, Inc. logo KEYS - Keysight Technologies, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 12
HOLD 4
SELL 0
STRONG
SELL 0
| PRICE TARGET: $389.63 DETAILS
HIGH: $425.00
LOW: $350.00
MEDIAN: $386.00
CONSENSUS: $389.63
UPSIDE: 20.98%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Revenue
Revenue 5,375 4,979 5,464 5,420 4,941 4,221 4,303 3,878 3,189 2,918 2,856 2,933 2,888 3,315 3,316
Cost of Revenue 2,038 1,846 1,932 1,970 1,872 1,688 1,769 1,767 1,492 1,294 1,269 1,313 1,265 1,434 1,392
Gross Profit 3,337 3,133 3,532 3,450 3,069 2,533 2,534 2,111 1,697 1,624 1,587 1,620 1,623 1,881 1,924
Operating Expenses
R&D Expenses 1,007 919 882 841 811 715 688 624 507 425 387 361 375 377 381
SG&A Expenses 1,400 1,395 1,307 1,283 1,195 1,097 1,155 1,205 1,049 818 787 790 752 771 806
Other Expenses (16) (14) (15) (8) (17) (44) (20) 676 (7) (25) (18) 0 0 0 0
Operating Expenses 2,391 2,300 2,174 2,116 1,989 1,768 1,823 2,505 1,549 1,218 1,156 1,151 1,127 1,148 1,187
Operating Income
Operating Income 948 833 1,358 1,334 1,080 765 711 (394) 148 406 431 469 496 733 737
Interest Expense 96 84 78 79 79 78 80 83 80 47 46 3 0 0 0
Interest Income 102 81 102 16 3 11 23 12 7 3 1 0 0 0 0
Profitability
EBITDA 1,425 1,219 1,647 1,587 1,382 1,165 1,103 (18) 484 547 533 562 578 811 793
EBIT 1,150 949 1,435 1,364 1,089 839 795 (328) 259 413 434 478 501 746 737
Income Before Tax 1,082 865 1,357 1,285 1,010 761 715 (411) 179 366 388 475 501 746 749
Income Tax Expense 213 251 300 161 116 134 94 (576) 77 31 (125) 83 44 (95) (38)
Net Income 846 614 1,057 1,124 894 627 621 165 102 335 513 392 457 841 787
Per Share Data
EPS (Basic) 4.90 3.53 5.94 6.24 4.83 3.35 3.30 0.88 0.57 1.97 3.04 2.35 2.74 5.04 4.72
EPS (Diluted) 4.88 3.51 5.91 6.18 4.78 3.32 3.25 0.86 0.56 1.95 3.00 2.35 2.74 5.04 4.72
Shares Outstanding 173 174 178 180 185 187 188 187 180 170 169 167 166.8 166.8 166.8
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Current Assets
Cash & Cash Equivalents 1,873 1,796 2,472 2,042 2,052 1,756 1,598 913 818 783 483 810 0 0
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 939 995 944 905 735 606 668 624 547 437 398 380 340 392
Inventory 1,050 1,022 985 858 777 757 705 619 588 474 487 498 502 472
Other Current Assets 486 157 124 149 270 255 244 222 224 160 211 162 130 129
Total Current Assets 4,348 4,257 4,809 4,234 3,834 3,374 3,215 2,378 2,177 1,854 1,579 1,850 972 993
Non-Current Assets
Property, Plant & Equipment 1,031 1,008 987 910 877 777 576 555 530 512 518 470 469 493
Goodwill 3,435 2,388 1,640 1,582 1,628 1,537 1,209 1,171 1,882 736 700 392 419 467
Intangible Assets 1,285 607 155 189 272 361 490 645 855 208 246 18 20 28
Long-Term Investments 211 110 81 62 70 61 46 46 63 55 70 63 44 26
Other Non-Current Assets 610 521 340 454 389 368 332 279 240 43 100 94 16 126
Total Non-Current Assets 6,945 5,012 3,874 3,864 3,947 3,844 3,408 3,446 3,756 1,946 1,929 1,200 1,056 1,140
Total Assets 11,293 9,269 8,683 8,098 7,781 7,218 6,623 5,824 5,933 3,800 3,508 3,050 2,028 2,133
Current Liabilities
Account Payables 355 313 286 348 287 224 253 242 211 189 209 173 131 156
Short-Term Debt 0 0 599 0 0 0 0 499 10 0 0 0 0 0
Deferred Revenue 652 561 541 495 478 391 334 334 291 180 175 175 190 200
Other Current Liabilities 399 295 304 333 355 289 278 276 217 183 34 167 142 38
Total Current Liabilities 1,850 1,427 2,049 1,407 1,309 1,081 1,003 1,462 819 644 686 769 560 595
Non-Current Liabilities
Long-Term Debt 2,727 1,790 1,195 1,793 1,791 1,789 1,788 1,291 2,038 1,093 1,099 1,099 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 1 295 0 0 0
Other Non-Current Liabilities 414 544 377 354 519 727 648 511 665 474 65 344 129 111
Total Non-Current Liabilities 3,566 2,737 1,980 2,530 2,688 2,840 2,616 1,929 2,804 1,647 1,520 1,512 223 233
Total Liabilities 5,416 4,164 4,029 3,937 3,997 3,921 3,619 3,391 3,623 2,291 2,206 2,281 783 828
Stockholders' Equity
Common Stock 2 2 2 2 2 2 2 2 2 2 2 2 1,214 1,204
Retained Earnings 7,071 6,225 5,611 4,554 3,430 2,536 1,909 1,212 1,041 949 614 101 0 0
Accumulated Other Comprehensive Income (248) (364) (466) (454) (442) (599) (578) (488) (457) (622) (479) (336) 31 0
Total Stockholders' Equity 5,877 5,105 4,654 4,161 3,784 3,297 3,004 2,433 2,310 1,509 1,302 769 1,245 1,305
Total Liabilities & Equity 11,293 9,269 8,683 8,098 7,781 7,218 6,623 5,824 5,933 3,800 3,508 3,050 2,028 2,133
Debt Metrics
Total Debt 2,971 2,030 2,026 2,018 2,023 1,981 1,788 1,790 2,048 1,093 1,099 1,099 0 0
Net Debt 1,098 234 (446) (24) (29) 225 190 877 1,230 317 616 289 0 0
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Operating Activities
Net Income 846 614 1,057 1,124 894 627 621 165 102 335 513 392 457 841 787
Depreciation & Amortization 131 126 212 223 293 326 308 310 225 134 99 84 77 65 56
Stock-Based Compensation 162 137 135 125 103 92 82 59 56 49 55 43 41 38 36
Change in Working Capital 77 (271) (126) (404) 36 (57) (35) 80 15 (119) (171) (7) (46) (117) (158)
Other Non-Cash Items 305 178 133 69 49 (13) 24 730 (38) 16 38 28 23 15 22
Operating Cash Flow 1,409 1,052 1,408 1,144 1,322 1,016 998 555 313 416 376 563 566 724 751
Investing Activities
Capital Expenditure (128) (154) (196) (185) (174) (117) (120) (132) (72) (91) (92) (70) (69) (103) (95)
Acquisitions (2,022) (681) (85) (33) (178) (357) (88) (11) (1,702) (10) (574) (11) (1) (69) (3)
Purchases of Investments (93) (11) (7) (33) (1) 0 0 0 (1) 0 (7) 0 (15) 0 0
Sales/Maturities of Investments 9 0 0 216 1 0 7 0 45 1 1 0 0 0 5
Other Investing Activities 507 27 0 (216) (1) 32 5 27 8 10 1 (1) 0 0 5
Investing Cash Flow (1,727) (819) (288) (251) (353) (442) (196) (116) (1,722) (90) (671) (82) (85) (172) (88)
Financing Activities
Net Debt Issuance 740 (25) 0 0 0 (7) (4) (260) 958 (1) 0 1,064 0 0 0
Stock Repurchased (377) (443) (702) (849) (673) (411) (159) (120) 0 (62) 0 (940) 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (41) (511) (52) (75) (57) (53) (26) (19) 494 (5) (45) 211 (481) (552) (663)
Financing Cash Flow 385 (913) (687) (861) (671) (413) (122) (335) 1,440 (25) (19) 335 (481) (552) (663)
Cash Position
Net Change in Cash 76 (674) 431 (11) 301 167 683 95 35 300 (327) 810 0 0 0
Cash at Beginning 1,814 2,488 2,057 2,068 1,767 1,600 917 818 783 483 810 0 0 0 0
Cash at End 1,890 1,814 2,488 2,057 2,068 1,767 1,600 913 818 783 483 810 0 0 0
Free Cash Flow 1,281 898 1,212 959 1,148 899 878 423 241 325 284 493 497 621 656
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Income Statement
Revenue 5,375 4,979 5,464 5,420 4,941 4,221 4,303 3,878 3,189 2,918 2,856 2,933 2,888 3,315 3,316
Gross Profit 3,337 3,133 3,532 3,450 3,069 2,533 2,534 2,111 1,697 1,624 1,587 1,620 1,623 1,881 1,924
Operating Income 948 833 1,358 1,334 1,080 765 711 (394) 148 406 431 469 496 733 737
Net Income 846 614 1,057 1,124 894 627 621 165 102 335 513 392 457 841 787
EPS (Diluted) 4.88 3.51 5.91 6.18 4.78 3.32 3.25 0.86 0.56 1.95 3.00 2.35 2.74 5.04 4.72
Balance Sheet
Cash & Equivalents 1,873 1,796 2,472 2,042 2,052 1,756 1,598 913 818 783 483 810 0 0
Total Assets 11,293 9,269 8,683 8,098 7,781 7,218 6,623 5,824 5,933 3,800 3,508 3,050 2,028 2,133
Total Debt 2,971 2,030 2,026 2,018 2,023 1,981 1,788 1,790 2,048 1,093 1,099 1,099 0 0
Stockholders' Equity 5,877 5,105 4,654 4,161 3,784 3,297 3,004 2,433 2,310 1,509 1,302 769 1,245 1,305
Cash Flow
Operating Cash Flow 1,409 1,052 1,408 1,144 1,322 1,016 998 555 313 416 376 563 566 724 751
Capital Expenditure (128) (154) (196) (185) (174) (117) (120) (132) (72) (91) (92) (70) (69) (103) (95)
Free Cash Flow 1,281 898 1,212 959 1,148 899 878 423 241 325 284 493 497 621 656