KEYS Technology

Keysight Technologies, Inc.

$305.11+2.06%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Technology
Industry: Scientific & Technical Instruments
Country: United States
Market cap: 51.9B USD
Enterprise value: 56.3B USD
Full-time employees: 16,600

Overall health

Drawback: its share price swings more than most peers’ (beta 1.18 vs a peer median of 0.87)bigger price swings (beta 1.18 vs peers 0.87)
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #404 of 1,612 technology companies (top 26%)

See how it ranks against its peers

Worth knowing

Sales growing faster than profits. Since FY Oct 2022: revenue −0.8%, operating profit −34%.
Since FY Oct 2022, Keysight Technologies's revenue changed −0.8% while operating profit fell 34%: costs rose faster than sales.
Profit is backed by cash. Free cash flow is 117% of reported profit.
Keysight Technologies's free cash flow is 117% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Wide margins. Operating margin 20% (12 months to Jul 2026) vs a peer median of 6.3%.Operating margin 20% vs peers 6.3%.
Keysight Technologies keeps 20% of revenue as operating profit, more than 86% of peers (median 6.3%).
Fast revenue growth. Revenue grew 26% in the 12 months to July 2026 vs the 12 months before, faster than 83% of peers.
Revenue grew 26% in the 12 months to July 2026 vs the 12 months before, faster than 83% of its peers.

StockQuotient Score

63/ 100

Oct 5 63 → Nov 4 63

Valuation

Is the price right?

43/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.4%

SEC filings · 12 months to Jul 2026Reported value30% base weight · Z-score 0.08Sector median: 0.0225 · MAD: 0.0225

EBITDA yield3.3%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.27Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield2.8%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.03Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield12.7%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

86/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 8.1%

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth133.8%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 4.02Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth5.6%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 0.09Sector median: 0.0483 · MAD: 0.0793

Revenue growth25.5%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.67Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

82/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 2.1 points to 20.3%

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin20.3%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.96Sector median: 0.0631 · MAD: 0.0710

Return on assets10.6%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 2.11Sector median: 0.0293 · MAD: 0.0362

Return on invested capital16.2%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 1.11Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin64.7%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity19.2%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.18

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.83Sector median: 0.8710 · MAD: 0.3700

Current ratio2.02×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.28Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.38×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.59Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Keysight Technologies

Is Keysight Technologies getting weaker?: Its latest SEC filing (Sep 2, 2026) got stronger: operating margin rose 2.1 points to 20.3%. Its overall score is unchanged at 63/100 since Oct 28, 2026.
How is Keysight Technologies valued vs its peers?: Priced about in line with its peers. Valuation scores 43/100 against 1,711 technology peers.
Is Keysight Technologies growing?: Yes, faster than most of its peers. Growth scores 86/100 against 1,711 technology peers. Earnings per share growth 133.8% vs a peer median of 11.1% (stronger than 91% of peers).Earnings per share growth 133.8% vs peers 11.1% (stronger than 91% of peers).
How profitable is Keysight Technologies?: More profitable than most of its peers. Profitability scores 82/100 against 1,711 technology peers. Return on assets 10.6% vs a peer median of 2.9% (stronger than 87% of peers).Return on assets 10.6% vs peers 2.9% (stronger than 87% of peers).
How risky is Keysight Technologies?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 1.18 vs a peer median of 0.87 (weaker than 69% of peers).Beta 1.18 vs peers 0.87 (weaker than 69% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 31, 2026 · filed Sep 2, 2026 · compared with the quarter ended Apr 30, 2026

Got stronger

Operating margin rose 2.1 points to 20.3%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	6.1B USD	6.6B USD	+8.1%
Net income (12 months)	1.1B USD	1.3B USD	+19.5%
Operating margin	18.2%	20.3%	+2.1 pts
Free cash flow (12 months)	1.4B USD	1.5B USD	+8.3%
Debt	2.5B USD	2.5B USD	−0.6%
Cash	2.4B USD	2.6B USD	+8.0%
Shares outstanding	170.9M	170.2M	−0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Technology · 320 companies

Valuations in Technology are above their usual range since 2016.

70% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +5% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +68% vs the whole market, against a usual +58%.

2016Shaded: most expensive fifth of its range2026

Shown for Technology: too few Scientific & Technical Instruments companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Oct 2021	FY Oct 2022	FY Oct 2023	FY Oct 2024	FY Oct 2025	Change
Gross margin	62.1%	63.7%	64.6%	62.9%	62.1%	▼ 0.8 pts
Operating margin	21.9%	24.6%	24.9%	16.7%	16.3%	▼ 0.4 pts
Net margin	18.1%	20.7%	19.3%	12.3%	15.8%	▲ 3.5 pts
Return on assets (ROA)	11.5%	13.9%	12.2%	6.6%	7.5%	▲ 0.9 pts
Return on equity (ROE)	23.6%	27.0%	22.7%	12.0%	14.5%	▲ 2.4 pts
Free cash flow margin	23.2%	17.7%	22.2%	18.0%	23.8%	▲ 5.8 pts
Current ratio	2.93×	3.01×	2.35×	2.98×	2.35×	▼ 21%
Quick ratio	2.34×	2.40×	1.87×	2.27×	1.78×	▼ 21%
Debt to equity	0.47×	0.43×	0.39×	0.35×	0.43×	▲ 23%
Interest coverage	13.67×	16.89×	17.41×	9.92×	9.13×	▼ 8.0%

KEYS price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its share price swings more than most peers’ (beta 1.18 vs a peer median of 0.87)bigger price swings (beta 1.18 vs peers 0.87)

About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #404 of 1,612 technology companies (top 26%)

See how it ranks against its peers

Worth knowing

Sales growing faster than profits. Since FY Oct 2022: revenue −0.8%, operating profit −34%.

Since FY Oct 2022, Keysight Technologies's revenue changed −0.8% while operating profit fell 34%: costs rose faster than sales.

Profit is backed by cash. Free cash flow is 117% of reported profit.

Keysight Technologies's free cash flow is 117% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Wide margins. Operating margin 20% (12 months to Jul 2026) vs a peer median of 6.3%.Operating margin 20% vs peers 6.3%.

Keysight Technologies keeps 20% of revenue as operating profit, more than 86% of peers (median 6.3%).

Fast revenue growth. Revenue grew 26% in the 12 months to July 2026 vs the 12 months before, faster than 83% of peers.

Revenue grew 26% in the 12 months to July 2026 vs the 12 months before, faster than 83% of its peers.

Questions investors ask about Keysight Technologies

Is Keysight Technologies getting weaker?

Its latest SEC filing (Sep 2, 2026) got stronger: operating margin rose 2.1 points to 20.3%. Its overall score is unchanged at 63/100 since Oct 28, 2026.

How is Keysight Technologies valued vs its peers?

Priced about in line with its peers. Valuation scores 43/100 against 1,711 technology peers.

Is Keysight Technologies growing?

Yes, faster than most of its peers. Growth scores 86/100 against 1,711 technology peers. Earnings per share growth 133.8% vs a peer median of 11.1% (stronger than 91% of peers).Earnings per share growth 133.8% vs peers 11.1% (stronger than 91% of peers).

How profitable is Keysight Technologies?

More profitable than most of its peers. Profitability scores 82/100 against 1,711 technology peers. Return on assets 10.6% vs a peer median of 2.9% (stronger than 87% of peers).Return on assets 10.6% vs peers 2.9% (stronger than 87% of peers).

How risky is Keysight Technologies?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 1.18 vs a peer median of 0.87 (weaker than 69% of peers).Beta 1.18 vs peers 0.87 (weaker than 69% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

6.1B USD

6.6B USD

+8.1%

Net income (12 months)

1.1B USD

1.3B USD

+19.5%

Operating margin

18.2%

20.3%

+2.1 pts

Free cash flow (12 months)

1.4B USD

1.5B USD

+8.3%

Debt

2.5B USD

2.5B USD

−0.6%

Cash

2.4B USD

2.6B USD

+8.0%

Shares outstanding

170.9M

170.2M

−0.4%

Key ratios

FY Oct 2021

FY Oct 2022

FY Oct 2023

FY Oct 2024

FY Oct 2025

Change

Gross margin

62.1%

63.7%

64.6%

62.9%

62.1%

▼ 0.8 pts

Operating margin

21.9%

24.6%

24.9%

16.7%

16.3%

▼ 0.4 pts

Net margin

18.1%

20.7%

19.3%

12.3%

15.8%

▲ 3.5 pts

Return on assets (ROA)

11.5%

13.9%

12.2%

6.6%

7.5%

▲ 0.9 pts

Return on equity (ROE)

23.6%

27.0%

22.7%

12.0%

14.5%

▲ 2.4 pts

Free cash flow margin

23.2%

17.7%

22.2%

18.0%

23.8%

▲ 5.8 pts

Current ratio

2.93×

3.01×

2.35×

2.98×

2.35×

▼ 21%

Quick ratio

2.34×

2.40×

1.87×

2.27×

1.78×

▼ 21%

Debt to equity

0.47×

0.43×

0.39×

0.35×

0.43×

▲ 23%

Interest coverage

13.67×

16.89×

17.41×

9.92×

9.13×

▼ 8.0%