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Stocks / United States / KEYS · Industrial Instruments For Measurement, Display, And Control · NYSE

Keysight Technologies, Inc. (KEYS)

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Keysight Technologies, Inc. (KEYS) reported revenue of $1.8 billion for Q3 FY2026, the quarter ended 31 July 2026, up 36.5% on the same quarter a year earlier. Net income was $397 million, up 107.9% on the year, and diluted earnings per share $2.30. The figures are the company's own, from the 10-Q it filed with the SEC on 2 September 2026.

Revenue$1.8 billionup 36.5%
Net income$397 millionup 107.9%
Diluted EPS$2.30
QuarterQ3 FY2026ended 31 July 2026

Ratios

From the filings

ROE19.2%
ROCE14.7%
Operating margin20.3%
Net margin19.1%
FCF margin22.3%
Interest cover12.34
Debt to equity0.38
Cash conversion1.27
Share count, 1 year-0.9%
Sales CAGR, 3 years-0.3%
Profit CAGR, 3 years-8.9%
EPS, TTM$7.30

At the close of 21 September 2026

Price$342.03
Market cap$58.2 billion
Stock P/E46.85
Price to book8.86
EV / EBITDA33.82
Dividend yieldn/a
Market cap / sales8.85
52-week high$373.34
52-week low$159.49
Price, 1 year92.0%
Price CAGR, 3 years37.7%
Price CAGR, 5 years14.1%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Keysight Technologies, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on KEYS

Filings20 in twelve months: 10 current reports (8-K), about 4 results of operations; 3 officer or director change; 1 new financial obligation; 1 shareholder vote; 1 regulation fd disclosure
Planned insider sales26 Form 144 notices in twelve months, $32.2 million; latest 21 September 2026
Options tapeput/call 0.63 by open interest on 23 September 2026; the straddle prices a 7.5% move to 16 October 2026
Holders11 of the followed funds hold it; largest Geode Capital Management; 5 Schedule 13D or 13G filings in twelve months
Insider trading24 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest2.9 million shares short, 1.51 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,3111,2591,2161,2171,2871,2981,3061,3521,4191,6001,7171,846
Cost of revenue467446453462485478492518550605539630
Gross profit8448137637558028208148348699951,1781,216
Gross margin64%65%63%62%62%63%62%62%61%62%69%66%
R&D218232228226233249250250258303320312
SG&A313362361329343361360354399447456446
Operating income317221177205230218207234217248407461
Operating margin24%18%15%17%18%17%16%17%15%16%24%25%
Interest expense20.020.020.021.023.020.020.028.028.029.025.026.0
Pre-tax income276229175213248199320241322198418477
Tax rate18%25%28%-83%129%15%20%21%22%-42%17%17%
Net income226172126389-73.0169257191233281349397
Net margin17%14%10%32%-6%13%20%14%16%18%20%22%
Diluted EPS$1.27$0.98$0.72$2.22-$0.41$0.97$1.49$1.10$1.35$1.63$2.02$2.30
Operating cash flow378328110255359378484322225441501437
Capital expenditure38.047.036.033.038.032.027.031.038.034.029.034.0
Free cash flow34028174.0222321346457291187407472403
Buybacks42693.046.015015075.015050.010087.0220210
Shares outstanding175m175m175m174m173m173m172m172m172m172m171m170m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016 FY2017 FY2018 FY2019 FY2020 FY2021FY2022FY2023 FY2024FY2025TTM
Revenue2,9332,8562,9183,1893,8784,3034,2214,9415,4205,4644,9795,3756,582
Cost of revenue1,3131,2691,2941,4871,7671,7691,6881,8721,9701,9321,8462,0382,324
Gross profit1,6201,5871,6241,7022,1222,5342,5333,0693,4503,5323,1333,3374,258
Gross margin55.2%55.6%55.7%53.4%54.7%58.9%60.0%62.1%63.7%64.6%62.9%62.1%64.7%
Research and development3613874255076246887158118418829191,0071,193
Selling, general and administrative7907878181,0581,2051,1551,0971,1951,2831,3071,3951,4741,748
Operating income469431406148-3947117651,0801,3341,3588338761,333
Operating margin16.0%15.1%13.9%4.6%-10.2%16.5%18.1%21.9%24.6%24.9%16.7%16.3%20.3%
Interest expense3.046.047.080.083.080.078.079.079.078.084.096.0108
Pre-tax income6015595465987357157611,0101,2851,3578651,0821,415
Income tax83.0-12531.077.0-57694.0134116161300251213136
Effective tax rate13.8%-22.4%5.7%12.9%-78.4%13.1%17.6%11.5%12.5%22.1%29.0%19.7%9.6%
Net income3925133351021656216278941,1241,0576148501,260
Net margin13.4%18.0%11.5%3.2%4.3%14.4%14.9%18.1%20.7%19.3%12.3%15.8%19.1%
Diluted EPS$2.35$3.00$1.95$0.56$0.86$3.25$3.31$4.78$6.18$5.91$3.51$4.91$7.30
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014FY2015FY2016 FY2017 FY2018 FY2019 FY2020 FY2021FY2022FY2023 FY2024FY2025TTM
Operating cash flow5633764203285559981,0161,3221,1441,4081,0521,4091,604
Capital expenditure70.092.091.072.0132120117174185197154128135
Free cash flow4932843292564238788991,1489591,2118981,2811,469
Free cash flow margin16.8%9.9%11.3%8.0%10.9%20.4%21.3%23.2%17.7%22.2%18.0%23.8%22.3%
Depreciation and amortisation84.099.0134225307306324291220210264268386
Share-based compensation43.055.049.056.059.082.092.0103125135137162214
Buybacks0.00.062.00.0120159411673849702439375617
Diluted shares, weighted167m171m172m182m191m191m189m187m182m179m175m173m173m
Shares outstanding at period end167m170mn/an/an/an/an/an/an/an/an/an/a170m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016 FY2017 FY2018 FY2019 FY2020 FY2021FY2022FY2023 FY2024FY2025TTM
Total assets3,0503,5083,8035,9335,8246,6237,2187,7818,0988,6839,26911,30111,921
Cash and equivalents8104837838189131,5981,7562,0522,0422,4721,7961,8732,605
Receivables3573984375476246686067359059008579391,067
Inventory4984874745886197057577778589851,0221,0501,047
Goodwill3927007361,8821,1711,2091,5371,6281,5821,6402,3883,4243,462
Long-term debt1,0991,0991,0932,0381,2911,7881,7891,7911,7931,7941,7902,5342,517
Borrowings, as the company tags themn/a1,0991,100n/an/an/an/an/an/an/an/an/an/a
Operating lease liabilitiesn/an/an/an/an/a0.0149191186192197193176
Shareholders' equity7691,3021,5132,3102,4333,0043,2973,7844,1614,6545,1055,8816,571
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded6.5%5.0%-0.3%25.5%
Profit growth, compounded5.2%6.3%-8.9%131.6%
Return on equity, average17.3%20.0%16.4%14.5%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Industrial Instruments For Measurement, Display, And Control

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Danaher Corp. DHR$151.7 billion38.277.6%20.4%4.6%0.51n/a
Keysight Technologies, Inc. KEYS$58.2 billion46.8519.2%20.3%25.5%0.38n/a
AMETEK Inc/ AME$55.3 billion35.2714.0%25.9%12.7%0.090.2%
Roper Technologies Inc. ROP$36.1 billion15.1413.4%28.0%10.9%0.570.9%
Fortive Corp. FTV$16.8 billion32.998.9%16.9%-15.9%0.570.5%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q31 July 20262 September 2026EDGAR
10-Q30 April 20264 June 2026EDGAR
10-Q31 January 20265 March 2026EDGAR
10-K31 October 202517 December 2025EDGAR
10-Q31 July 202529 August 2025EDGAR
10-Q30 April 20253 June 2025EDGAR
10-Q31 January 20256 March 2025EDGAR
10-K31 October 202417 December 2024EDGAR
10-Q31 July 202429 August 2024EDGAR
10-Q30 April 202431 May 2024EDGAR

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