Keysight Technologies, Inc.KEYS
NYSE•Technology•Scientific & Technical Instruments
Keysight Technologies, Inc. provides electronic design and test solutions worldwide. The company operates through Communications Solutions Group and Electronic Industrial Solutions Group segments. It offers electronic design and test software, instrumentation, systems, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of communication systems in wireless, data center ecosystem, enterprise, and aerospace, defense, and government end markets. The company also develops and deploys communications products and services; and operates communications networks. In addition, it provides electronic design, test and simulation software, instrumentation, systems, computer-aided engineering solutions, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of electronic equipment in the automotive and energy, semiconductor solutions, and general electronics industries. Further, the company offers product support; technical and application support for hardware, software, and solutions; and professional services, such as installation, training, engineering, optimization of equipment and solution adoption, utilization, and integration services. Additionally, it provides oscilloscopes; generators, sources and power supplies; software products; analyzers; wireless products; network test and security; modular instruments; meters; network visibility; and other products, as well as KeysightCare support plans, calibration, repair, technology refresh, test as a service, network/security, consulting, financial alternatives, education, software testing, support, managed, device vulnerability analysis, support portal, and used equipment services. Keysight Technologies, Inc. was founded in 1939 and is headquartered in Santa Rosa, California.
as of April 2026
Are revenues and earnings expanding?
$6.09B in TTM revenue grew 19.2% YoY, reaching $1.72B last quarter. TTM EBITDA of $1.11B on operating income of $407.00M shows growth is flowing through. Net income of $1.05B TTM confirms the company is converting revenue into profit. Revenue is growing at a healthy pace — a signal to hold.
Is revenue turning into profit effectively?
Op. margin of 23.7% is up 7.9% YoY — cost efficiency is improving. Net margin at 20.3%. ROE of 16.6% shows the company generates solid returns on shareholder equity.
Is the stock cheap or expensive?
At 57.9x P/E, the stock trades at a premium — the market expects above-average growth. P/S of 10.0x and P/B of 9.6x provide additional context. Assess whether the current multiple is justified by the company's growth and profitability trajectory.
Is the company financially stable?
With $11.74B in assets and $1.83B in long-term debt, the D/E of 0.3 shows a conservative capital structure — the company has a strong financial cushion to weather downturns.
Is the business self-funding?
FCF of $472.00M. The FCF / Net Income ratio of 0.4x indicates partial cash conversion — earnings quality needs attention. Cash reserves of $2.41B provide financial flexibility. Share count is stable — no dilution or buyback activity.
Competitive analysis based on 46 quarters of fundamental data
Operating margins are expanding at ~17.4%, suggesting durable pricing power and cost discipline.
ROE is positive at ~13.9% on average, adequate but below the threshold typically associated with wide moats.
Data-driven red flags and warnings across 46 quarters
Margins are stable or improving at ~18.0% — no sign of cost or pricing stress.
FCF covers net income by 0.6x on average — earnings are well-supported by cash generation.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~21.7% growth over the period. Strong demand durability.