(KEYS) Keysight Technologies - Overview
Stock: Oscilloscopes, Analyzers, Generators, Software, Services
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 34.9% |
| Relative Tail Risk | -13.5% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.83 |
| Alpha | 10.54 |
| Character TTM | |
|---|---|
| Beta | 1.339 |
| Beta Downside | 1.447 |
| Drawdowns 3y | |
|---|---|
| Max DD | 36.71% |
| CAGR/Max DD | 0.23 |
Description: KEYS Keysight Technologies December 17, 2025
Keysight Technologies (NYSE: KEYS) designs and manufactures electronic test and measurement equipment, serving customers worldwide through two business units: Communications Solutions and Electronic Industrial Solutions. Its product portfolio spans oscilloscopes, spectrum and network analyzers, signal generators, 5G test gear, and a suite of software tools for design automation, workflow, and security testing, complemented by extensive support and integration services.
In FY 2023 the company reported revenue of roughly $6.0 billion and GAAP earnings per share of $5.60, with research-and-development spending hovering around 15 % of sales-a level that underscores its focus on staying ahead in fast-moving segments such as 5G NR base-station testing and semiconductor validation.
Key macro drivers for Keysight include the global semiconductor capital-expenditure cycle, which fuels demand for high-precision test equipment, and rising defense and aerospace budgets that sustain long-term contracts for ruggedized test systems. Additionally, the acceleration of cloud-based network monitoring and cybersecurity testing creates cross-selling opportunities for its software-enabled solutions.
For a deeper quantitative view, the ValueRay platform offers a granular breakdown of KEYS valuation metrics and scenario analysis.
Piotroski VR‑10 (Strict, 0-10) 7.5
| Net Income: 846.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 2.45 > 1.0 |
| NWC/Revenue: 46.47% < 20% (prev 56.84%; Δ -10.36% < -1%) |
| CFO/TA 0.12 > 3% & CFO 1.41b > Net Income 846.0m |
| Net Debt (1.10b) to EBITDA (1.43b): 0.77 < 3 |
| Current Ratio: 2.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (173.0m) vs 12m ago 0.0% < -2% |
| Gross Margin: 62.08% > 18% (prev 0.63%; Δ 6145 % > 0.5%) |
| Asset Turnover: 52.28% > 50% (prev 53.72%; Δ -1.44% > 0%) |
| Interest Coverage Ratio: 11.98 > 6 (EBITDA TTM 1.43b / Interest Expense TTM 96.0m) |
Altman Z'' 5.57
| A: 0.22 (Total Current Assets 4.35b - Total Current Liabilities 1.85b) / Total Assets 11.29b |
| B: 0.63 (Retained Earnings 7.07b / Total Assets 11.29b) |
| C: 0.11 (EBIT TTM 1.15b / Avg Total Assets 10.28b) |
| D: 1.26 (Book Value of Equity 6.83b / Total Liabilities 5.42b) |
| Altman-Z'' Score: 5.57 = AAA |
Beneish M -2.99
| DSRI: 0.87 (Receivables 939.0m/995.0m, Revenue 5.38b/4.98b) |
| GMI: 1.01 (GM 62.08% / 62.92%) |
| AQI: 1.21 (AQ_t 0.52 / AQ_t-1 0.43) |
| SGI: 1.08 (Revenue 5.38b / 4.98b) |
| TATA: -0.05 (NI 846.0m - CFO 1.41b) / TA 11.29b) |
| Beneish M-Score: -2.99 (Cap -4..+1) = A |
What is the price of KEYS shares?
Over the past week, the price has changed by +6.76%, over one month by +8.10%, over three months by +24.80% and over the past year by +30.05%.
Is KEYS a buy, sell or hold?
- StrongBuy: 6
- Buy: 5
- Hold: 1
- Sell: 1
- StrongSell: 0
What are the forecasts/targets for the KEYS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 220.7 | -4.4% |
| Analysts Target Price | 220.7 | -4.4% |
| ValueRay Target Price | 243.8 | 5.6% |
KEYS Fundamental Data Overview February 07, 2026
P/E Forward = 27.3224
P/S = 7.0811
P/B = 6.4606
P/EG = 1.6752
Revenue TTM = 5.38b USD
EBIT TTM = 1.15b USD
EBITDA TTM = 1.43b USD
Long Term Debt = 2.53b USD (from longTermDebt, last quarter)
Short Term Debt = 51.0m USD (from shortTermDebt, last quarter)
Debt = 2.97b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.10b USD (from netDebt column, last quarter)
Enterprise Value = 39.16b USD (38.06b + Debt 2.97b - CCE 1.87b)
Interest Coverage Ratio = 11.98 (Ebit TTM 1.15b / Interest Expense TTM 96.0m)
EV/FCF = 28.56x (Enterprise Value 39.16b / FCF TTM 1.37b)
FCF Yield = 3.50% (FCF TTM 1.37b / Enterprise Value 39.16b)
FCF Margin = 25.51% (FCF TTM 1.37b / Revenue TTM 5.38b)
Net Margin = 15.74% (Net Income TTM 846.0m / Revenue TTM 5.38b)
Gross Margin = 62.08% ((Revenue TTM 5.38b - Cost of Revenue TTM 2.04b) / Revenue TTM)
Gross Margin QoQ = 61.24% (prev 61.69%)
Tobins Q-Ratio = 3.47 (Enterprise Value 39.16b / Total Assets 11.29b)
Interest Expense / Debt = 0.94% (Interest Expense 28.0m / Debt 2.97b)
Taxrate = 21.74% (70.0m / 322.0m)
NOPAT = 900.0m (EBIT 1.15b * (1 - 21.74%))
Current Ratio = 2.35 (Total Current Assets 4.35b / Total Current Liabilities 1.85b)
Debt / Equity = 0.51 (Debt 2.97b / totalStockholderEquity, last quarter 5.88b)
Debt / EBITDA = 0.77 (Net Debt 1.10b / EBITDA 1.43b)
Debt / FCF = 0.80 (Net Debt 1.10b / FCF TTM 1.37b)
Total Stockholder Equity = 5.55b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.23% (Net Income 846.0m / Total Assets 11.29b)
RoE = 15.24% (Net Income TTM 846.0m / Total Stockholder Equity 5.55b)
RoCE = 14.22% (EBIT 1.15b / Capital Employed (Equity 5.55b + L.T.Debt 2.53b))
RoIC = 11.39% (NOPAT 900.0m / Invested Capital 7.90b)
WACC = 10.12% (E(38.06b)/V(41.03b) * Re(10.85%) + D(2.97b)/V(41.03b) * Rd(0.94%) * (1-Tc(0.22)))
Discount Rate = 10.85% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -81.65 | Cagr: -1.14%
[DCF Debug] Terminal Value 73.75% ; FCFF base≈1.18b ; Y1≈1.38b ; Y5≈2.08b
Fair Price DCF = 138.3 (EV 24.81b - Net Debt 1.10b = Equity 23.72b / Shares 171.5m; r=10.12% [WACC]; 5y FCF grow 17.99% → 2.90% )
EPS Correlation: -64.43 | EPS CAGR: -47.70% | SUE: -4.0 | # QB: 0
Revenue Correlation: -15.80 | Revenue CAGR: 3.44% | SUE: 4.0 | # QB: 6
EPS next Quarter (2026-04-30): EPS=1.91 | Chg30d=+0.006 | Revisions Net=+2 | Analysts=10
EPS current Year (2026-10-31): EPS=8.11 | Chg30d=-0.001 | Revisions Net=+2 | Growth EPS=+13.2% | Growth Revenue=+15.1%
EPS next Year (2027-10-31): EPS=9.29 | Chg30d=+0.009 | Revisions Net=+2 | Growth EPS=+14.6% | Growth Revenue=+6.4%