Keysight Technologies, Inc. KEYS

Technology SIC 3823 - Industrial Instruments For Measurement, Display, and Control NAICS Manufacturing › Computer and Electronic Product Manufacturing › Navigational, Measuring, Electromedical, and Control Instruments Manufacturing › Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables derived NYSE

Keysight Technologies, Inc. ("we," "us," "our," "Keysight" or "the company"), incorporated in Delaware on December 6, 2013, is a global innovator in the computing, communications and electronics markets, committed to advancing our customers' business success by helping them solve critical challenges in the development and commercialization of their products and services. Our mission, "accelerating innovation to connect and secure the world," speaks to the value we provide our customers in a world of ever-increasing technological complexity. We deliver this value through a broad range of design and test solutions that enable our customers to bring their innovations to market on ever-shorter schedules.

Last close 314.77 2026-10-23
Market cap $53.59B 2026-07-31 share count
52-week range 165.06 - 389.93

Valuation FY2025 figures against the last close

P/S10.0x
P/E64.1x
P/FCF41.8x
EV/EBITDA53.9x
Dividend yield—
Diluted EPS4.91

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Rest of the World
  • United States
  • China
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 Rest of the World, FY2025: 2.6B (47.8%) 48% Rest of the World United States, FY2025: 1.9B (34.8%) 35% United States China, FY2025: 938M (17.5%) 17% China FY2024 Rest of the World, FY2024: 2.3B (46.7%) 47% United States, FY2024: 1.8B (35.5%) 36% China, FY2024: 884M (17.8%) 18% FY2023 Rest of the World, FY2023: 2.5B (46.3%) 46% United States, FY2023: 1.9B (35.3%) 35% China, FY2023: 1B (18.4%) 18%
Region FY2025FY2024FY2023
Rest of the World $2.57B $2.33B $2.53B
United States $1.87B $1.77B $1.93B
China $938.0M $884.0M $1.00B

As the company reported it, from the “SEGMENT INFORMATION (Entity-Wide Disclosures on Geographic Areas) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • CSG
  • Eisg
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 CSG, FY2025: 3.7B (69.3%) 69% CSG Eisg, FY2025: 1.6B (30.7%) 31% Eisg FY2024 CSG, FY2024: 3.4B (68.7%) 69% Eisg, FY2024: 1.6B (31.3%) 31% FY2023 CSG, FY2023: 3.7B (67.4%) 67% Eisg, FY2023: 1.8B (32.6%) 33%
Segment FY2025FY2024FY2023
CSG $3.73B $3.42B $3.69B
Eisg $1.65B $1.56B $1.78B

As the company reported it, from the “SEGMENT INFORMATION (Profitability) (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $5.38B$4.98B$5.46B$5.42B$4.94B$4.22B$4.30B$3.88B$3.19B$2.92B
Cost of revenue $2.04B$1.85B$1.93B$1.97B$1.87B$1.69B$1.77B$1.77B$1.49B$1.30B
Gross profit $3.34B$3.13B$3.53B$3.45B$3.07B$2.53B$2.53B$2.11B$1.70B$1.62B
R&D $1.01B$919.0M$882.0M$841.0M$811.0M$715.0M$688.0M$624.0M$507.0M$434.0M
SG&A $1.47B$1.40B$1.31B$1.28B$1.20B$1.10B$1.16B$1.21B$1.06B$832.0M
Total operating expenses $4.50B$4.15B$4.11B$4.09B$3.86B$3.46B$3.59B$4.27B$3.04B$2.54B
Operating income $876.0M$833.0M$1.36B$1.33B$1.08B$765.0M$711.0M-$394.0M$148.0M$375.0M
Interest expense $96.0M$84.0M$78.0M$79.0M$79.0M$78.0M$80.0M$83.0M$80.0M$47.0M
Pre-tax income $1.08B$865.0M$1.36B$1.28B$1.01B$761.0M$715.0M$735.0M$598.0M$515.0M
Income tax $213.0M$251.0M$300.0M$161.0M$116.0M$134.0M$94.0M$576.0M$77.0M$31.0M
Net income $850.0M$614.0M$1.06B$1.12B$894.0M$627.0M$621.0M$165.0M$102.0M$335.0M
EPS, basic 4.933.535.956.234.843.353.310.880.571.97
EPS, diluted 4.913.515.916.184.783.313.250.860.561.95
Shares, diluted (wtd. avg.) 173.0M175.0M179.0M182.0M187.0M189.0M191.0M191.0M182.0M172.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.87B$1.80B$2.49B$2.06B$2.07B$1.77B$1.60B$917.0M$820.0M$785.0M
Receivables $939.0M$857.0M$900.0M$905.0M$735.0M$606.0M$668.0M$624.0M$547.0M$437.0M
Inventory $1.05B$1.02B$985.0M$858.0M$777.0M$757.0M$705.0M$619.0M$588.0M$474.0M
Total current assets $4.35B$4.26B$4.81B$4.23B$3.83B$3.37B$3.21B$2.38B$2.18B$1.85B
Property, plant and equipment $795.0M$774.0M$761.0M$690.0M$650.0M$595.0M$576.0M$555.0M$530.0M$512.0M
Goodwill $3.42B$2.39B$1.64B$1.58B$1.63B$1.54B$1.21B$1.17B$1.88B$736.0M
Other intangibles $1.30B$607.0M$155.0M$189.0M$272.0M$361.0M$490.0M$645.0M$855.0M$208.0M
Total assets $11.30B$9.27B$8.68B$8.10B$7.78B$7.22B$6.62B$5.82B$5.93B$3.80B
Accounts payable $355.0M$313.0M$286.0M$348.0M$287.0M$224.0M$253.0M$242.0M$211.0M$189.0M
Short-term debt —$0$599.0M$0——$0$499.0M$10.0M$0
Total current liabilities $1.85B$1.43B$2.05B$1.41B$1.31B$1.08B$1.00B$1.46B$819.0M$644.0M
Long-term debt $2.53B$1.79B$1.20B$1.79B$1.79B$1.79B$1.79B$1.29B$2.04B$1.09B
Total liabilities $5.42B$4.16B$4.03B$3.94B$4.00B$3.92B$3.62B$3.39B$3.62B$2.28B
Retained earnings $7.08B$6.22B$5.61B$4.55B$3.43B$2.54B$1.91B$1.21B$1.04B$949.0M
Total equity $5.88B$5.11B$4.65B$4.16B$3.78B$3.30B$3.00B$2.43B$2.31B$1.51B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.41B$1.05B$1.41B$1.14B$1.32B$1.02B$998.0M$555.0M$328.0M$420.0M
Depreciation and amortisation $131.0M$126.0M$120.0M$117.0M$117.0M$104.0M$96.0M$103.0M$92.0M$85.0M
Stock-based compensation $162.0M$137.0M$135.0M$125.0M$103.0M$92.0M$82.0M$59.0M$56.0M$49.0M
Capital expenditure $128.0M$154.0M$197.0M$185.0M$174.0M$117.0M$120.0M$132.0M$72.0M$91.0M
Investing cash flow -$1.73B-$819.0M-$288.0M-$251.0M-$353.0M-$442.0M-$196.0M-$108.0M-$1.72B-$90.0M
Financing cash flow $385.0M-$913.0M-$687.0M-$861.0M-$671.0M-$413.0M-$122.0M-$341.0M$1.43B-$29.0M
Buybacks $375.0M$439.0M$702.0M$849.0M$673.0M$411.0M$159.0M$120.0M$0$62.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001601046-25-000127.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 2B 4B 6B Revenue, FY2016: 2.9B Gross profit, FY2016: 1.6B Net income, FY2016: 335M Revenue, FY2017: 3.2B Gross profit, FY2017: 1.7B Net income, FY2017: 102M Revenue, FY2018: 3.9B Gross profit, FY2018: 2.1B Net income, FY2018: 165M Revenue, FY2019: 4.3B Gross profit, FY2019: 2.5B Net income, FY2019: 621M Revenue, FY2020: 4.2B Gross profit, FY2020: 2.5B Net income, FY2020: 627M Revenue, FY2021: 4.9B Gross profit, FY2021: 3.1B Net income, FY2021: 894M Revenue, FY2022: 5.4B Gross profit, FY2022: 3.5B Net income, FY2022: 1.1B Revenue, FY2023: 5.5B Gross profit, FY2023: 3.5B Net income, FY2023: 1.1B Revenue, FY2024: 5B Gross profit, FY2024: 3.1B Net income, FY2024: 614M Revenue, FY2025: 5.4B Gross profit, FY2025: 3.3B Net income, FY2025: 850M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $2.92B $3.19B $3.88B $4.30B $4.22B $4.94B $5.42B $5.46B $4.98B $5.38B
Gross profit $1.62B $1.70B $2.11B $2.53B $2.53B $3.07B $3.45B $3.53B $3.13B $3.34B
Net income $335.0M $102.0M $165.0M $621.0M $627.0M $894.0M $1.12B $1.06B $614.0M $850.0M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Results announced Item 2.02
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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