KEYS FY 2025 Earnings Report — Keysight Technologies, Inc. Revenue & Financial Results | Market Cap Arena

Keysight Technologies, Inc.KEYS

FY 2025 Earnings

Reported December 17, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$5.4B	—	$5.0B	—	8.0%
Op. Income	$948M	—	$833M	—	13.8%
Gross Margin	62.1%	—	62.9%	—	-0.8pp
Net Margin	15.7%	—	12.3%	—	3.4pp
EPS (Diluted)	$4.88	—	$3.51	—	39.0%
Free Cash Flow	$1.3B	—	$898M	—	42.7%

Revenue Flow

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$2.0B
GROSS PROFIT	$3.3B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.4B
Other Expenses	-$16M
Operating Expenses	$2.4B
Cost & Expenses	$4.4B
OPERATING INCOME	$948M
Interest Income	$102M
Interest Expense	$96M
Other Income/Expenses	$134M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$213M
Net Income from Continuing Ops	$869M
Net Income from Discontinued Ops	-$23M
Other Adjustments	$0
NET INCOME	$846M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$846M
D&A	$275M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$5.4B
Cost of Revenue	$2.0B
GROSS PROFIT	$3.3B
R&D Expenses	$1.0B
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.4B
Other Expenses	-$16M
Operating Expenses	$2.4B
Cost & Expenses	$4.4B
OPERATING INCOME	$948M
Interest Income	$102M
Interest Expense	$96M
Other Income/Expenses	$134M
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$213M
Net Income from Continuing Ops	$869M
Net Income from Discontinued Ops	-$23M
Other Adjustments	$0
NET INCOME	$846M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$846M
D&A	$275M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$846M
Depreciation & Amortization	$131M
Stock-Based Compensation	$162M
Deferred Income Tax	-$112M
Other Non-Cash Items	$305M
Change in Working Capital	$77M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	-$128M
Acquisitions (Net)	-$2.0B
Purchases of Investments	-$93M
Sales/Maturities of Investments	$9M
Other Investing Activities	$507M
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$740M
Common Stock Repurchased	-$377M
Common Dividends Paid	$0
Other Financing Activities	-$41M
NET CASH FROM FINANCING	$385M
FREE CASH FLOW	$1.3B
Net Change in Cash	$76M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$0
Net Receivables	$939M
Inventory	$1.1B
Other Current Assets	$486M
TOTAL CURRENT ASSETS	$4.3B
PP&E (Net)	$1.0B
Goodwill	$3.4B
Intangible Assets	$1.3B
Long-Term Investments	$211M
Tax Assets	$373M
Other Non-Current Assets	$610M
TOTAL NON-CURRENT ASSETS	$6.9B
TOTAL ASSETS	$11.3B
Account Payables	$355M
Short-Term Debt	$0
Deferred Revenue	$652M
Other Current Liabilities	$399M
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$2.7B
Deferred Revenue NC	$232M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$414M
TOTAL NON-CURRENT LIABILITIES	$3.6B
TOTAL LIABILITIES	$5.4B
Common Stock	$2M
Additional Paid-In Capital	$2.9B
Retained Earnings	$7.1B
Treasury Stock	-$3.8B
Accum. Other Comp. Income	-$248M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$5.9B
Minority Interest	$0
TOTAL EQUITY	$5.9B
TOTAL LIABILITIES & EQUITY	$11.3B
Total Debt	$3.0B
Net Debt	$1.1B