KEYS

MKT CAP:$60B

Keysight Technologies, Inc.

Market Cap

$60B

Technology·Hardware, Equipment & Parts·🇺🇸 United States·NYSE

Technology·Hardware,·🇺🇸·NYSE

Stock Price

$350.07+$143.48 (+69.45%)

Apr 24, 2026

Company Details

Keysight Technologies, Inc. provides electronic design and test solutions to commercial communications, networking, aerospace, defense and government, automotive, energy, semiconductor, electronic, and education industries in the Americas, ...

CEO

Satish C. Dhanasekaran

IPO Date

Oct 20, 2014

Website

www.keysight.com

Key Metrics TTM

Revenue

$5.7B

+13.1% YoY

Net Income

$958M

EPS (Diluted)

$5.54

Free Cash Flow

$1.4B

Revenue / Share

$32.82

Gross Margin

61.9%

Operating Margin

16.0%

Net Margin

16.9%

FCF Margin

25.2%

P/S

10.6x

P/E

62.6x

Earnings Reports

Q1 2026

Mar 5, 2026

$1.6B+23.3%EPS $1.63

FY 2025

Dec 17, 2025

$5.4B+8.0%EPS $4.88

Q4 2025

Dec 17, 2025

$1.4B+10.3%EPS $1.32

Q3 2025

Aug 29, 2025

$1.4B+11.1%EPS $1.10

Q2 2025

Jun 3, 2025

$1.3B+7.4%EPS $1.49

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$1.4B	$859M	$327M
Q3 22	$1.4B	$877M	$357M
Q4 22	$1.4B	$910M	$379M
Q1 23	$1.4B	$883M	$322M
Q2 23	$1.4B	$909M	$354M
Q3 23	$1.4B	$896M	$365M
Q4 23	$1.3B	$844M	$317M
Q1 24	$1.3B	$813M	$221M
Q2 24	$1.2B	$763M	$177M
Q3 24	$1.2B	$755M	$205M
Q4 24	$1.3B	$802M	$230M
Q1 25	$1.3B	$820M	$218M
Q2 25	$1.3B	$814M	$207M
Q3 25	$1.4B	$834M	$234M
Q4 25	$1.4B	$869M	$217M
Q1 26	$1.6B	$995M	$248M

Valuation

Quarter	P/S	P/E
Q2 22	4.9x	24.8x
Q3 22	5.6x	26.5x
Q4 22	5.7x	27.6x
Q1 23	5.7x	27.3x
Q2 23	4.6x	21.8x
Q3 23	5.1x	25.1x
Q4 23	3.9x	19.9x
Q1 24	5.2x	28.8x
Q2 24	5.1x	32.2x
Q3 24	4.8x	26.2x
Q4 24	5.4x	43.9x
Q1 25	6.0x	49.6x
Q2 25	4.8x	33.4x
Q3 25	5.5x	53.0x
Q4 25	6.0x	38.1x
Q1 26	6.8x	40.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$298M	$245M
Q3 22	$224M	$192M
Q4 22	$398M	$340M
Q1 23	$366M	$306M
Q2 23	$423M	$370M
Q3 23	$241M	$196M
Q4 23	$378M	$340M
Q1 24	$328M	$281M
Q2 24	$110M	$74M
Q3 24	$255M	$222M
Q4 24	$359M	$321M
Q1 25	$378M	$346M
Q2 25	$484M	$457M
Q3 25	$322M	$381M
Q4 25	$225M	$187M
Q1 26	$441M	$407M

Capital Expenditures

Quarter	CapEx
Q2 22	$53M
Q3 22	$32M
Q4 22	$58M
Q1 23	$60M
Q2 23	$53M
Q3 23	$45M
Q4 23	$38M
Q1 24	$47M
Q2 24	$36M
Q3 24	$33M
Q4 24	$38M
Q1 25	$32M
Q2 25	$27M
Q3 25	$59M
Q4 25	$38M
Q1 26	$34M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+10.6%	+3.9%
Q3 22	+10.4%	+5.9%
Q4 22	+11.5%	+12.6%
Q1 23	+10.5%	+8.2%
Q2 23	+2.9%	+1.2%
Q3 23	+0.4%	-0.2%
Q4 23	-9.1%	-6.6%
Q1 24	-8.8%	-2.0%
Q2 24	-12.5%	+0.3%
Q3 24	-11.9%	-0.5%
Q4 24	-1.8%	+6.3%
Q1 25	+3.1%	+4.0%
Q2 25	+7.4%	+5.8%
Q3 25	+11.1%	+10.5%
Q4 25	+10.3%	+13.7%
Q1 26	+23.3%	+25.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$27M	2.0%
Q3 22	$25M	1.8%
Q4 22	$23M	1.6%
Q1 23	$54M	3.9%
Q2 23	$30M	2.2%
Q3 23	$26M	1.9%
Q4 23	$25M	1.9%
Q1 24	$48M	3.8%
Q2 24	$36M	3.0%
Q3 24	$29M	2.4%
Q4 24	$26M	2.0%
Q1 25	$62M	4.8%
Q2 25	$36M	2.8%
Q3 25	$31M	2.3%
Q4 25	$33M	2.3%
Q1 26	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 22	$210M	—	—	$319M
Q3 22	$206M	$15M	$302M	—
Q4 22	$215M	—	—	$321M
Q1 23	$227M	—	—	$338M
Q2 23	$222M	—	—	$337M
Q3 23	$215M	$15M	$304M	—
Q4 23	$218M	—	—	$313M
Q1 24	$232M	—	—	$362M
Q2 24	$228M	—	—	$361M
Q3 24	$226M	—	—	$329M
Q4 24	$233M	—	—	$343M
Q1 25	$249M	—	—	$361M
Q2 25	$250M	—	—	$360M
Q3 25	$250M	—	—	$354M
Q4 25	$258M	—	—	$399M
Q1 26	$303M	$447M	—	—

Revenue Segments

Quarter	Communications Solutions Group	Electronic Industrial Solutions Group
Q2 22	$963M	$388M
Q3 22	$970M	$406M
Q4 22	$992M	$451M
Q1 23	$939M	$442M
Q2 23	$937M	$453M
Q3 23	$918M	$464M
Q4 23	$891M	$420M
Q1 24	$839M	$420M
Q2 24	$840M	$376M
Q3 24	$847M	$370M
Q4 24	$894M	$393M
Q1 25	$883M	$415M
Q2 25	$913M	$393M
Q3 25	$940M	$412M
Q1 26	$1.1B	$476M

Revenue by Geography

Quarter	Americas	Asia Pacific	Europe
Q2 22	$563M	$570M	$218M
Q3 22	$562M	$607M	$207M
Q4 22	$595M	$617M	$231M
Q1 23	$561M	$563M	$257M
Q2 23	$517M	$644M	$229M
Q3 23	$556M	$583M	$243M
Q4 23	$571M	$513M	$227M
Q1 24	$514M	$490M	$255M
Q2 24	$492M	$496M	$228M
Q3 24	$500M	$496M	$221M
Q4 24	$549M	$508M	$230M
Q1 25	$551M	$488M	$259M
Q2 25	$510M	$573M	$223M
Q3 25	$566M	$569M	$217M
Q1 26	$680M	$592M	$328M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$1.9B	$0	$1.9B
Q3 22	$1.8B	$0	$1.8B
Q4 22	$2.0B	$0	$2.0B
Q1 23	$2.2B	$0	$2.2B
Q2 23	$2.5B	$0	$2.5B
Q3 23	$2.6B	$0	$2.6B
Q4 23	$2.5B	$0	$2.5B
Q1 24	$1.7B	$0	$1.7B
Q2 24	$1.7B	$0	$1.7B
Q3 24	$1.6B	$0	$1.6B
Q4 24	$1.8B	$0	$1.8B
Q1 25	$2.1B	$0	$2.1B
Q2 25	$3.1B	$0	$3.1B
Q3 25	$2.6B	$0	$2.6B
Q4 25	$1.9B	$0	$1.9B
Q1 26	$2.2B	$0	$2.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	183M	-0.5%	-2.1%
Q3 22	181M	-1.1%	-2.7%
Q4 22	180M	-0.6%	-3.2%
Q1 23	180M	0.0%	-2.2%
Q2 23	179M	-0.6%	-2.2%
Q3 23	179M	0.0%	-1.1%
Q4 23	177M	-1.1%	-1.7%
Q1 24	176M	-0.6%	-2.2%
Q2 24	175M	-0.6%	-2.2%
Q3 24	175M	0.0%	-2.2%
Q4 24	173M	-1.1%	-2.3%
Q1 25	174M	+0.6%	-1.1%
Q2 25	173M	-0.6%	-1.1%
Q3 25	173M	0.0%	-1.1%
Q4 25	173M	0.0%	0.0%
Q1 26	173M	0.0%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$94.5K	14K
Q3 22	$96.2K	14K
Q4 22	$96.2K	15K
Q1 23	$92.1K	15K
Q2 23	$92.7K	15K
Q3 23	$92.1K	15K
Q4 23	$88.0K	15K
Q1 24	$84.5K	15K
Q2 24	$81.6K	15K
Q3 24	$81.7K	15K
Q4 24	$83.0K	16K
Q1 25	$83.7K	16K
Q2 25	$84.3K	16K
Q3 25	$87.2K	16K
Q4 25	$84.5K	17K
Q1 26	$95.2K	17K

Revenue / Employee