Keysight Technologies

Information Technology Electronic Equipment & Instruments Santa Rosa, California Last filing Dec 17, 2025 · FY2025

                    Revenue
                    FY2025
                
$5.4B
                    3y CAGR -0.3%
                    
                    P25
                    
                    +8.0%
                    
                    Net income
                    FY2025
                
$850.0M
                    Net margin +15.8%
                    
                    P44
                    
                    +38.4%
                    
                    Total assets
                    FY2025
                
$11.3B
                    ROA +7.5%
                    
                    P45
                    
                    +21.9%
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    FCF margin +23.8%
                    
                    P60
                    
                    +33.9%

13 yrs · FY2013–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

35 accounts · 10 years

Total assets $11.3B

Total liabilities $5.4B

Shareholders equity $5.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+10.2%	+10.9%	+17.8%	+17.3%	+21.3%	+22.4%	+26.8%	—	+4.5%	—
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Accounts Receivable	+8.9%	+8.8%	+10.9%	+12.9%	+11.0%	+8.5%	+15.2%	+20.2%	+25.2%	—
Inventory	+9.2%	+10.1%	+11.0%	+10.4%	+10.4%	+12.4%	+14.1%	+14.3%	+24.1%	—
Prepaid Expenses	—	—	—	—	—	—	—	—	—	—
Other Current Assets	—	—	—	—	—	—	—	—	—	—
Total Current Assets	+9.9%	+10.9%	+14.6%	+14.8%	+15.6%	+16.1%	+20.1%	—	+17.4%	—
Property,Plant and Equipment	+5.0%	+5.3%	+5.8%	+5.1%	+4.9%	+3.8%	+4.0%	—	+3.5%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+18.6%	+15.8%	+12.1%	+13.6%	+17.2%	+20.2%	+18.0%	—	+155.7%	—
Intangible Assets	+22.6%	+14.3%	-4.1%	-1.6%	+5.5%	+14.8%	+33.1%	—	+311.1%	—
Long Term Investments	+16.1%	+9.1%	+5.7%	+2.0%	+4.9%	+2.6%	-5.8%	—	+14.5%	—
Deferred Tax Assets	-0.5%	-0.4%	+8.0%	+9.3%	+12.7%	+17.3%	+24.5%	—	+22.0%	—
Other Noncurrent Assets	—	—	—	—	—	—	—	—	—	—
Total Assets	+12.9%	+11.8%	+12.5%	+13.5%	+15.4%	+17.4%	+20.4%	—	+56.3%	—
Liabilities
Accounts Payable	+7.3%	+6.5%	+6.1%	+10.7%	+8.7%	+4.3%	+10.2%	—	+11.6%	—
Accrued Liabilities	+15.5%	+11.9%	+20.6%	+11.1%	+7.7%	+8.2%	+17.6%	+22.1%	+21.6%	—
Deferred Revenue	—	—	—	—	—	—	—	—	—	—
Operating Lease Liabilities	—	—	—	—	—	—	—	—	—	—
Other Current Liabilities	—	—	—	—	—	—	—	—	—	—
Total Current Liabilities	+12.4%	+10.5%	+18.0%	+13.9%	+15.2%	+13.8%	+15.9%	—	+27.2%	—
Long Term Debt	+9.8%	+6.4%	+1.3%	+8.6%	+10.4%	+13.1%	+17.8%	—	+86.5%	—
Deferred Revenue Noncurrent	—	—	—	—	—	—	—	—	—	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	—	+21.2%	+16.5%	+19.6%	+26.9%	+28.3%	+31.0%	—	+635.5%	—
Other Noncurrent Liabilities	—	—	—	—	—	—	—	—	—	—
Total Liabilities	+10.1%	+7.8%	+8.5%	+9.5%	+11.9%	+14.5%	+16.6%	—	+58.7%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—	+0.0%	—
Additional Paid In Capital	+9.7%	+10.0%	+10.4%	+11.1%	+12.3%	+14.2%	+17.5%	—	+43.8%	—
Retained Earnings	+25.0%	+26.5%	+28.9%	+29.9%	+29.3%	+27.9%	+26.2%	+16.5%	+9.7%	—
Treasury Stock	+58.0%	+65.1%	+73.9%	+82.3%	+87.2%	+86.6%	+76.7%	—	+0.0%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	+16.3%	+16.4%	+17.4%	+18.4%	+20.1%	+21.5%	+25.7%	—	+52.7%	—
Total Liabilitiesand Equity	+12.9%	+11.8%	+12.5%	+13.5%	+15.4%	+17.4%	+20.4%	—	+56.3%	—

Income Statement

Revenue, expense, and profitability

19 accounts · 10 years

Revenue $5.4B

Operating income $876.0M

Net income $850.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	—	—	—	—	—	—	—	—	—	—
Expenses Cost of Revenue	—	—	—	—	—	—	—	—	—	—
Expenses Research and Development	+9.8%	+9.8%	+10.7%	+11.7%	+13.3%	+13.3%	+16.6%	—	+16.8%	—
Expenses Selling,General and Administrative	—	—	—	—	—	—	—	—	—	—
Expenses Depreciation and Amortization	—	—	—	—	—	—	—	—	—	—
Expenses Share Based Compensation	+14.2%	+13.7%	+15.6%	+16.9%	+16.0%	+17.1%	+18.7%	—	+14.3%	—
Expenses Operating Expenses	—	—	—	—	—	—	—	—	—	—
Other Income Expense Operating Income	—	—	—	—	—	—	—	—	—	—
Other Income Expense Interest Income	+48.0%	+51.0%	+65.5%	+32.2%	+0.0%	+38.4%	+97.2%	—	+133.3%	—
Other Income Expense Interest Expense	+8.3%	+7.5%	+7.5%	+9.0%	+10.9%	+13.5%	+19.4%	—	+70.2%	—
Other Income Expense Other Income/expense	—	—	—	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	—	—	—	—	—	—	—	—	—	—
Income Tax Income Tax Expense	+23.9%	+29.9%	+38.3%	+31.6%	+30.2%	+44.2%	+44.7%	—	+148.4%	—
net Income net Income	+10.9%	+7.9%	+17.8%	+22.4%	+21.7%	+17.0%	+22.8%	—	-69.6%	—
net Income Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Basic Eps	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Diluted Eps	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Weighted Average Shares Basic	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Weighted Average Shares Diluted	—	—	—	—	—	—	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $1.4B

Investing cash flow $-1.7B

Financing cash flow $385.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	+10.9%	+7.9%	+17.8%	+22.4%	+21.7%	+17.0%	+22.8%	—	-69.6%	—
Operating Activities Depreciation and Amortization	+4.9%	+5.0%	+5.0%	+5.5%	+6.6%	+5.2%	+4.1%	—	+8.2%	—
Operating Activities Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Operating Activities Deferred Income Taxes	—	+41.2%	—	-13.7%	—	+24.6%	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+34.0%	+12.5%	—	-9.0%	—	—	—	—	+13.6%	—
Operating Activities net Cash From Operating Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities Capital Expenditures	+3.9%	+6.8%	+11.7%	+12.6%	+13.8%	+6.5%	+9.7%	—	-20.9%	—
Investing Activities Business Acquisitions	+80.4%	+69.5%	+35.8%	+22.0%	+77.9%	+144.4%	+106.5%	—	+16920.0%	—
Investing Activities Other Investing Activities	—	—	—	—	—	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Repayment of Debt	—	+123.6%	—	—	—	+62.7%	+693.7%	—	+32200.0%	—
Financing Activities Repurchase of Common Stock	+22.1%	+27.7%	+41.4%	+54.7%	+61.1%	+60.5%	+36.9%	—	—	—
Financing Activities Proceeds From Stock Issuance	—	—	—	—	—	—	—	—	—	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Cash At Beginning of Period	+10.3%	+11.0%	+17.9%	+17.4%	+21.4%	+22.5%	+26.8%	—	+4.5%	—
Cash Reconciliation Cash At End of Period	+10.3%	+11.0%	+17.9%	+17.4%	+21.4%	+22.5%	+26.8%	—	+4.5%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+62.1%	—	—	—	—	—	—	—	—	—
Operating margin	+16.3%	+16.7%	+24.9%	+24.6%	+21.9%	+18.1%	+16.5%	—	+4.6%	+12.9%
Net margin	+15.8%	+12.3%	+19.3%	+20.7%	+18.1%	+14.9%	+14.4%	—	+3.2%	+11.5%
FCF margin	+23.8%	+18.0%	+22.2%	+17.7%	+23.2%	+21.3%	+20.4%	—	+8.0%	+11.3%
Growth
Revenue CAGR (3y)	-0.3%	+0.3%	+9.0%	+8.0%	—	+9.8%	+13.8%	—	—	—
Returns
ROE	+14.5%	+12.0%	+22.7%	+27.0%	+23.6%	+19.0%	+20.7%	—	+4.4%	+22.1%
ROA	+7.5%	+6.6%	+12.2%	+13.9%	+11.5%	+8.7%	+9.4%	—	+1.7%	+8.8%
ROIC	+10.8%	+16.3%	+34.2%	+34.1%	+30.7%	+23.0%	+22.3%	—	+4.2%	+20.6%
Liquidity
Current ratio	2.35x	2.98x	2.35x	3.01x	2.93x	3.12x	3.21x	—	2.66x	2.88x
Quick ratio	1.52x	1.86x	1.65x	2.09x	2.13x	2.19x	2.26x	—	1.67x	1.89x
Leverage
D/E	0.92x	0.82x	0.87x	0.95x	1.06x	1.19x	1.20x	—	1.57x	1.51x
Interest coverage	9.12x	9.92x	17.41x	16.89x	13.67x	9.81x	8.89x	—	1.85x	7.98x
Efficiency
Asset turnover	0.48x	0.54x	0.63x	0.67x	0.64x	0.58x	0.65x	—	0.54x	0.77x
Cash conversion cycle	+188d	—	—	—	—	—	—	—	—	—

Valuation

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Keysight Technologies

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