Keysight Technologies, Inc. KEYS
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 4.93 | 3.53 | 5.95 | 6.23 | 4.84 | 3.35 | 3.31 | 0.88 | 0.57 | 1.97 |
| EPS, diluted | 4.91 | 3.51 | 5.91 | 6.18 | 4.78 | 3.31 | 3.25 | 0.86 | 0.56 | 1.95 |
| Shares, diluted (wtd. avg.) | $173.0M | $175.0M | $179.0M | $182.0M | $187.0M | $189.0M | $191.0M | $191.0M | $182.0M | $172.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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