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Keysight Technologies, Inc. (KEYS) financial health, profit and balance sheet · Scorvest

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

Keysight Technologies, Inc.

Santa Rosa, CA · Fiscal year ends in October · Figures in USD

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In shortKeysight Technologies, Inc. is profitable, generates cash and carries moderate debt, with revenue growing (+8.0% last year).

Financial health

Strong

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability72

Operating marginShare of each sale left after running the business, before interest and tax.	16.3%	71/100
Net marginShare of each sale left as profit after every cost, interest and tax.	15.8%	83/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	15.5%	77/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	8.4%	56/100

Weight in the score: 25%

Balance sheet91

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	2.35×	100/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.43×	87/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	0.66×	96/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	9.13×	73/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	5.15	100/100

Weight in the score: 25%

Cash generation100

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	23.8%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	1.51×	100/100
Years with positive free cash flow (last 5)	5 of 5	100/100

Weight in the score: 20%

Stability78
Profitable years (last 5) 5 of 5 100/100
Years of revenue decline (last 5) 1 of 5 67/100
Revenue growth volatility 9.8% 75/100
Operating margin volatility 4.2% 71/100
Weight in the score: 20%
Growth8
Revenue growth, 3-year average -0.3% 15/100
EPS growth, 3-year average -7.4% 0/100
Weight in the score: 10%

Profitable years (last 5)	5 of 5	100/100
Years of revenue decline (last 5)	1 of 5	67/100
Revenue growth volatility	9.8%	75/100
Operating margin volatility	4.2%	71/100

Revenue growth, 3-year average	-0.3%	15/100
EPS growth, 3-year average	-7.4%	0/100

Fiscal year 2025 · change vs prior year

Revenue: $5.4B; ▲ 8.0%
Net income: $850.0M; ▲ 38.4%
Free cash flow: $1.3B; ▲ 42.7%
Operating margin: 16.3%; −0.4 pts
Cash & investments: $1.9B; –
Total debt: $2.5B; ▲ 41.6%
Diluted EPS: $4.91; ▲ 39.9%
Return on equity: 15.5%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	4,941	5,420	5,464	4,979	5,375
Cost of revenue	1,872	1,970	1,932	1,846	2,038
Gross profit	3,069	3,450	3,532	3,133	3,337
Research & development	811	841	882	919	1,007
Selling, general & admin	1,195	1,283	1,307	1,395	1,474
Operating income	1,080	1,334	1,358	833	876
Interest expense	79	79	78	84	96
Pre-tax income	1,010	1,285	1,357	865	1,082
Income tax	116	161	300	251	213
Net income	894	1,124	1,057	614	850
Diluted EPS	$4.78	$6.18	$5.91	$3.51	$4.91
Diluted shares (millions)	187	182	179	175	173

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Quarterly results

The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.

The last 8 quarters of Keysight Technologies, Inc. are included in the Investor plan. Try free for 7 days →

Risk checks

Altman Z'' score

5.15 Safe zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

5/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: passed
Positive operating cash flow: passed
Return on assets improved: passed
Cash flow exceeds net income: passed
Long-term debt ratio fell: failed
Current ratio improved: failed
No share dilution: passed
Gross margin improved: failed
Asset turnover improved: failed

Sources

10-QPeriod ending Jul 31, 2026Filed Sep 2, 2026Open the report ↗
10-QPeriod ending Apr 30, 2026Filed Jun 4, 2026Open the report ↗
10-QPeriod ending Jan 31, 2026Filed Mar 5, 2026Open the report ↗
10-KPeriod ending Oct 31, 2025Filed Dec 17, 2025Open the report ↗
10-QPeriod ending Jul 31, 2025Filed Aug 29, 2025Open the report ↗
10-QPeriod ending Apr 30, 2025Filed Jun 3, 2025Open the report ↗
10-QPeriod ending Jan 31, 2025Filed Mar 6, 2025Open the report ↗
10-KPeriod ending Oct 31, 2024Filed Dec 17, 2024Open the report ↗