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Primary reporting period: 2025-10-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Keysight Technologies, Inc. specializes in providing advanced electronic design and testing solutions to a diverse array of global industries, spanning commercial communications, networking, aerospace, defense, government, automotive, energy, semiconductor manufacturing, general electronics, and education. The company's operations extend across the Americas, Europe, and the Asia Pacific region. Its Communications Solutions Group focuses on electronic design automation (EDA) software and sophisticated radio frequency (RF) and microwave testing systems, along with associated software.
How they make money
Keysight generates revenue by providing design, emulation, and test solutions that enable customers to develop and deploy products faster and with less risk. The company sells a portfolio of hardware, software, and services across the entire product lifecycle to customers in the communications, industrial, aerospace, defense, automotive, and semiconductor markets.
Products & services
Design, emulation, and test solutions including benchtop, modular, and handheld instruments, as well as proprietary software and related services.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company does not report any single customer accounting for 10% or more of its total revenue for the fiscal year ended October 31, 2025.
Suppliers, materials & equipment
Electronic components and raw materials suppliers — The company relies on various third-party suppliers for electronic components and raw materials; specific supplier names are not disclosed.Source
Strengths
Proprietary software and hardware technologies developed in-houseSource
Overall investment score · Quality, value, risk and opportunity
39
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
78
Strong
Financial Strength
52
Business Quality / Moat
84
Management
100
Growth Quality
84
Risk / Durability
88
Great Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
37
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
44/100
Building Historical Record
Model Score 44/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for KEYS
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can KEYS maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is KEYS's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Does KEYS's balance between cash and debt leave enough flexibility if business conditions weaken?
•What future growth or profitability would be needed to justify KEYS's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for KEYS
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on KEYS.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Proprietary software and hardware technologies developed in-house.
+Global R&D footprint.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Hardware, Equipment & Parts industry.
−Global economic and geopolitical conditions.
−Supply chain disruptions and component availability.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak39/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Poor
39
Debt Cost3.2%
Debt Reduction YoY-46.4%
Debt / Equity0.51x
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Revenue
Poor
28
Revenue YoY22.5%
Revenue CAGR-0.8%
Net Margin19.1%
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Asset
Weak
49
Asset Growth YoY21.8%
Liquidation/Share$37.98
Net Assets/MCap0.14x
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Capital
Poor
14
Earnings Yield2.0%
Buyback Yield0.9%
Debt Cost3.2%
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Management
Elite
100
ROIC11.3%
ROE19.1%
ROA10.5%
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Moat
Strong
84
EPS Growth14.3%
FCF/Share Growth20.1%
Rev/Share Growth6.0%
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Valuation
Poor
0
Intrinsic Value$61.71
Value Reference$37.03
MOS-441.5%
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Buffett
Fair
50
Revenue28
Moat84
Valuation0
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MOS
Poor
0
MOS %-441.5%
Value Reference$37.03
Deep Discount Reference$24.68
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Financial
Poor
36
Interest Coverage9.9x
ROIC11.3%
FCF Yield2.0%
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Master
Poor
36
Financial36
Valuation0
Debt39
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Resilience
Fair
67
Survival Years1.1 yrs
Current Ratio2.35x
FCF Margin23.8%
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Score Changes
2 historical score records available
Previous Score
38
Jul 24, 2026
Change
+0.4
points
Current Score
39
Oct 1, 2026
Category Changes
Revenue+5.0
Debt0
Assets-0.5
Capital-1.0
Management0
Moat0
Valuation0
Buffett+1.0
KEYS increased 0.4 points because Revenue improved by 5 points.
Positive Contributors
+ Revenue improved by 5 points
Projected Score
Projected Score
46
Projected Change
+6.8 points
Preliminary comparable-period financial changes suggest improvement of approximately 6.8 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$6.58B
$5.38B
$4.98B
$5.46B
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Cost of Revenue
$2.32B
$2.04B
$1.85B
$1.93B
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Gross Profit
$4.26B
$3.34B
$3.13B
$3.53B
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Research & Development
$1.19B
$1.01B
$919.0M
$882.0M
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SG&A Expenses
$1.75B
$1.40B
$1.40B
$1.31B
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Operating Expenses
$2.92B
$2.39B
$2.30B
$2.17B
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EBITDA
$1.71B
$1.43B
$1.22B
$1.65B
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Operating Income
$1.33B
$948.0M
$833.0M
$1.36B
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Interest Expense
$108.0M
$96.0M
$84.0M
$78.0M
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Income Before Tax
$1.42B
$1.08B
$865.0M
$1.36B
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····
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Income Tax Expense
$136.0M
$213.0M
$251.0M
$300.0M
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Net Income
$1.26B
$846.0M
$614.0M
$1.06B
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Basic EPS
$7.26
$4.90
$3.53
$5.94
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Basic Shares
173M
173M
174M
178M
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Diluted Shares
173M
173M
175M
179M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
Debt reduced
What Weakened
Cash position declined
Potential Score Impact
Positive indicators included revenue growth, EPS growth, debt levels, net income margin. Pressure indicators included cash levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 36.5%. EPS increased 108.2%. Cash declined 1.2%. Total debt declined 0.7%. Net income margin improved by 7.4 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.