greeksoup/ stock research
Stock research / United States / KEYS / FY2024

Keysight Technologies (KEYS) FY2024 results: revenue $5.0 billion, down 8.9% on the year

Keysight Technologies, Inc. (KEYS) reported revenue of $5.0 billion for fiscal 2024, the year ended 31 October 2024, down 8.9% on the year before. Net income was $614 million, down 41.9%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 17 December 2024.

Revenue
$5.0 billion
-8.9% on the year
FY2017FY2024
Operating margin
16.7%
24.9% a year earlier
FY2017FY2024
Net income
$614 million
-41.9% on the year
FY2017FY2024
Diluted EPS
$3.51
-40.6% on the year
FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ millionFY2024FY2023FY2022On the yearLast 8 years
Revenue4,9795,4645,420-8.9%
Cost of revenue1,8461,9321,970-4.5%
Gross profit3,1333,5323,450-11.3%
Gross margin62.9%64.6%63.7%
Research and development919882841+4.2%
Selling, general and administrative1,3951,3071,283+6.7%
Operating income8331,3581,334-38.7%
Operating margin16.7%24.9%24.6%
Interest expense84.078.079.0+7.7%
Pre-tax income8651,3571,285-36.3%
Income tax251300161-16.3%
Effective tax rate29.0%22.1%12.5%
Net income6141,0571,124-41.9%
Net margin12.3%19.3%20.7%
Diluted EPS$3.51$5.91$6.18-40.6%
$ million except per share.
Read moreFree 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.

Cash flow

$ millionFY2024FY2023FY2022On the yearLast 8 years
Operating cash flow1,0521,4081,144-25.3%
Capital expenditure154197185-21.8%
Free cash flow8981,211959-25.8%
Free cash flow margin18.0%22.2%17.7%
Cash from investing-819-288-251
Cash from financing-913-687-861
Depreciation and amortisation264210220+25.7%
Share-based compensation137135125+1.5%
Buybacks439702849-37.5%
Diluted shares, weighted175m179m182m-2.2%

Balance sheet

$ millionFY2024FY2023FY2022On the yearLast 8 years
Shareholders' equity5,1054,6544,161+9.7%
Debt1,7901,7941,793-0.2%
Operating lease liabilities197192186+2.6%
Other liabilities2,1772,0431,958+6.6%
Total liabilities and equity9,2698,6838,098+6.7%
Fixed assets774761690+1.7%
Goodwill2,3881,6401,582+45.6%
Intangible assets607155189+291.6%
Investments11081.062.0+35.8%
Cash and equivalents1,7962,4722,042-27.3%
Receivables857900905-4.8%
Inventory1,022985858+3.8%
Other assets1,7151,6891,770+1.5%
Total assets9,2698,6838,098+6.7%

10-K for the year ended 31 October 2024, filed 17 December 2024: the filing.