KEYS FY 2022 Earnings Report — Keysight Technologies, Inc. Revenue & Financial Results | Market Cap Arena

Keysight Technologies, Inc.KEYS

FY 2022 Earnings

Reported December 15, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$5.4B	—	$4.9B	—	9.7%
Op. Income	$1.3B	—	$1.1B	—	23.5%
Gross Margin	63.7%	—	62.1%	—	1.5pp
Net Margin	20.7%	—	18.1%	—	2.6pp
EPS (Diluted)	$6.18	—	$4.78	—	29.3%
Free Cash Flow	$959M	—	$1.1B	—	-16.5%

Revenue Flow

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$2.0B
GROSS PROFIT	$3.5B
R&D Expenses	$841M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	-$8M
Operating Expenses	$2.1B
Cost & Expenses	$4.1B
OPERATING INCOME	$1.3B
Interest Income	$16M
Interest Expense	$79M
Other Income/Expenses	-$49M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$161M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$223M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$2.0B
GROSS PROFIT	$3.5B
R&D Expenses	$841M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.3B
Other Expenses	-$8M
Operating Expenses	$2.1B
Cost & Expenses	$4.1B
OPERATING INCOME	$1.3B
Interest Income	$16M
Interest Expense	$79M
Other Income/Expenses	-$49M
INCOME BEFORE TAX	$1.3B
Income Tax Expense	$161M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$223M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$223M
Stock-Based Compensation	$125M
Deferred Income Tax	$7M
Other Non-Cash Items	$69M
Change in Working Capital	-$404M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$185M
Acquisitions (Net)	-$33M
Purchases of Investments	-$33M
Sales/Maturities of Investments	$216M
Other Investing Activities	-$216M
NET CASH FROM INVESTING	-$251M
Net Debt Issuance	$0
Common Stock Repurchased	-$849M
Common Dividends Paid	$0
Other Financing Activities	-$75M
NET CASH FROM FINANCING	-$861M
FREE CASH FLOW	$959M
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$2.0B
Short-Term Investments	$0
Net Receivables	$905M
Inventory	$858M
Other Current Assets	$149M
TOTAL CURRENT ASSETS	$4.2B
PP&E (Net)	$910M
Goodwill	$1.6B
Intangible Assets	$189M
Long-Term Investments	$62M
Tax Assets	$667M
Other Non-Current Assets	$454M
TOTAL NON-CURRENT ASSETS	$3.9B
TOTAL ASSETS	$8.1B
Account Payables	$348M
Short-Term Debt	$0
Deferred Revenue	$495M
Other Current Liabilities	$333M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$1.8B
Deferred Revenue NC	$197M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$354M
TOTAL NON-CURRENT LIABILITIES	$2.5B
TOTAL LIABILITIES	$3.9B
Common Stock	$2M
Additional Paid-In Capital	$2.3B
Retained Earnings	$4.6B
Treasury Stock	-$2.3B
Accum. Other Comp. Income	-$454M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.2B
Minority Interest	$0
TOTAL EQUITY	$4.2B
TOTAL LIABILITIES & EQUITY	$8.1B
Total Debt	$2.0B
Net Debt	-$24M