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(KEYS) Keysight Technologies - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US49338L1035

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KEYS EPS (Earnings per Share)

EPS Growth (3Y CAGR): -21.49%
EPS Trend (3Y Correlation): -79.6%

KEYS Revenue

Revenue Growth (3Y CAGR): -2.34%
Revenue Trend (3Y Correlation): -54.1%

Description: KEYS Keysight Technologies

Keysight Technologies, Inc. (NYSE: KEYS) designs and manufactures electronic test and measurement equipment, serving customers worldwide through two operating segments: the Communications Solutions Group and the Electronic Industrial Solutions Group.

The Communications Solutions Group focuses on test hardware and software for wireless, 5G, and network-infrastructure markets, offering products such as spectrum analyzers, protocol analyzers, wireless drive-test systems, and cloud-based network-security testing platforms.

The Electronic Industrial Solutions Group targets broader electronic-design and test applications, supplying oscilloscopes, digital multimeters, power meters, LCR meters, arbitrary waveform generators, and a suite of automation and workflow software that integrates instrument control and data analysis.

Beyond hardware, Keysight provides a full services portfolio-including technical support, training, system integration, and calibration-to help customers accelerate product development cycles and maintain compliance with industry standards.

In its most recent fiscal year (2023), Keysight reported revenue of approximately $5.9 billion, with an operating margin near 23 % and a free-cash-flow conversion rate of roughly 70 % of net income, reflecting strong pricing power in high-growth test markets.

Key economic drivers for the company include the ongoing global semiconductor capital-expenditure surge (estimated at >$800 billion in 2024) and the rapid rollout of 5G and edge-computing infrastructure, both of which boost demand for high-precision test solutions.

Sector-level trends such as increasing regulatory scrutiny of wireless emissions and the rise of AI-driven design automation are also expanding the addressable market for Keysight’s software-enabled test platforms.

For a deeper, data-driven valuation of KEYS, you may find ValueRay’s analyst toolkit useful.

KEYS Stock Overview

Market Cap in USD	28,329m
Sub-Industry	Electronic Equipment & Instruments
IPO / Inception	2014-11-03

KEYS Stock Ratings

Growth Rating	2.02%
Fundamental	57.5%
Dividend Rating	-
Return 12m vs S&P 500	-8.92%
Analyst Rating	4.23 of 5

KEYS Dividends

Currently no dividends paid

KEYS Growth Ratios

Growth Correlation 3m	40%
Growth Correlation 12m	17.5%
Growth Correlation 5y	12%
CAGR 5y	-1.25%
CAGR/Max DD 3y (Calmar Ratio)	-0.03
CAGR/Mean DD 3y (Pain Ratio)	-0.07
Sharpe Ratio 12m	0.90
Alpha	-13.17
Beta	1.184
Volatility	29.88%
Current Volume	732.5k
Average Volume 20d	961.1k
Stop Loss	162.3 (-3%)
Signal	0.61

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (544.0m TTM) > 0 and > 6% of Revenue (6% = 314.6m TTM)

FCFTA 0.14 (>2.0%) and ΔFCFTA 4.29pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 77.13% (prev 40.92%; Δ 36.22pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.14 (>3.0%) and CFO 1.54b > Net Income 544.0m (YES >=105%, WARN >=100%)

Net Debt (128.0m) to EBITDA (1.30b) ratio: 0.10 <= 3.0 (WARN <= 3.5)

Current Ratio 3.59 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (173.0m) change vs 12m ago -1.14% (target <= -2.0% for YES)

Gross Margin 62.37% (prev 63.46%; Δ -1.09pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 52.50% (prev 53.66%; Δ -1.16pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 9.12 (EBITDA TTM 1.30b / Interest Expense TTM 91.0m) >= 6 (WARN >= 3)

Altman Z'' 6.52

(A) 0.38 = (Total Current Assets 5.60b - Total Current Liabilities 1.56b) / Total Assets 10.65b

(B) 0.64 = Retained Earnings (Balance) 6.84b / Total Assets 10.65b

(D) 1.31 = Book Value of Equity 6.55b / Total Liabilities 4.98b

Total Rating: 6.52 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 57.53

1. Piotroski 6.0pt = 1.0

2. FCF Yield 5.29% = 2.64

3. FCF Margin 28.70% = 7.18

4. Debt/Equity 0.49 = 2.38

5. Debt/Ebitda 0.10 = 2.49

6. ROIC - WACC (= -0.78)% = -0.98

7. RoE 10.15% = 0.85

8. Rev. Trend -54.08% = -4.06

9. EPS Trend -79.64% = -3.98

What is the price of KEYS shares?

As of October 22, 2025, the stock is trading at USD 167.34 with a total of 732,500 shares traded.
Over the past week, the price has changed by +1.52%, over one month by -5.89%, over three months by +2.66% and over the past year by +6.03%.

Is Keysight Technologies a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Keysight Technologies is currently (October 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 57.53 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of KEYS is around 148.84 USD . This means that KEYS is currently overvalued and has a potential downside of -11.06%.

Is KEYS a buy, sell or hold?

Keysight Technologies has received a consensus analysts rating of 4.23. Therefore, it is recommended to buy KEYS.

Strong Buy: 6
Buy: 5
Hold: 1
Sell: 1
Strong Sell: 0

What are the forecasts/targets for the KEYS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	188.7	12.8%
Analysts Target Price	188.7	12.8%
ValueRay Target Price	167.5	0.1%

Last update: 2025-10-17 02:29

KEYS Fundamental Data Overview

Market Cap USD = 28.33b (28.33b USD * 1.0 USD.USD)
P/E Trailing = 52.3302
P/E Forward = 21.8818
P/S = 5.4032
P/B = 5.3091
P/EG = 1.0934
Beta = 1.184
Revenue TTM = 5.24b USD
EBIT TTM = 830.0m USD
EBITDA TTM = 1.30b USD
Long Term Debt = 2.53b USD (from longTermDebt, last quarter)
Short Term Debt = 48.0m USD (from shortTermDebt, last quarter)
Debt = 2.76b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 128.0m USD (from netDebt column, last quarter)
Enterprise Value = 28.46b USD (28.33b + Debt 2.76b - CCE 2.64b)
Interest Coverage Ratio = 9.12 (Ebit TTM 830.0m / Interest Expense TTM 91.0m)
FCF Yield = 5.29% (FCF TTM 1.50b / Enterprise Value 28.46b)
FCF Margin = 28.70% (FCF TTM 1.50b / Revenue TTM 5.24b)
Net Margin = 10.38% (Net Income TTM 544.0m / Revenue TTM 5.24b)
Gross Margin = 62.37% ((Revenue TTM 5.24b - Cost of Revenue TTM 1.97b) / Revenue TTM)
Gross Margin QoQ = 61.69% (prev 62.33%)
Tobins Q-Ratio = 2.67 (Enterprise Value 28.46b / Total Assets 10.65b)
Interest Expense / Debt = 1.01% (Interest Expense 28.0m / Debt 2.76b)
Taxrate = 20.75% (50.0m / 241.0m)
NOPAT = 657.8m (EBIT 830.0m * (1 - 20.75%))
Current Ratio = 3.59 (Total Current Assets 5.60b / Total Current Liabilities 1.56b)
Debt / Equity = 0.49 (Debt 2.76b / totalStockholderEquity, last quarter 5.67b)
Debt / EBITDA = 0.10 (Net Debt 128.0m / EBITDA 1.30b)
Debt / FCF = 0.09 (Net Debt 128.0m / FCF TTM 1.50b)
Total Stockholder Equity = 5.36b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.11% (Net Income 544.0m / Total Assets 10.65b)
RoE = 10.15% (Net Income TTM 544.0m / Total Stockholder Equity 5.36b)
RoCE = 10.52% (EBIT 830.0m / Capital Employed (Equity 5.36b + L.T.Debt 2.53b))
RoIC = 8.75% (NOPAT 657.8m / Invested Capital 7.52b)
WACC = 9.53% (E(28.33b)/V(31.09b) * Re(10.38%) + D(2.76b)/V(31.09b) * Rd(1.01%) * (1-Tc(0.21)))
Discount Rate = 10.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -81.65 | Cagr: -1.14%
[DCF Debug] Terminal Value 71.14% ; FCFE base≈1.27b ; Y1≈1.34b ; Y5≈1.57b
Fair Price DCF = 109.5 (DCF Value 18.82b / Shares Outstanding 171.9m; 5y FCF grow 5.74% → 3.0% )
EPS Correlation: -79.64 | EPS CAGR: -21.49% | SUE: -1.58 | # QB: 0
Revenue Correlation: -54.08 | Revenue CAGR: -2.34% | SUE: 3.53 | # QB: 5

Additional Sources for KEYS Stock

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Fund Manager Positions: Dataroma | Stockcircle