(KEYS) Keysight Technologies - Ratings and Ratios
Oscilloscopes, Analyzers, Generators, Software, Services
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 32.7% |
| Value at Risk 5%th | 46.1% |
| Relative Tail Risk | -14.22% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.75 |
| Alpha | 5.35 |
| CAGR/Max DD | 0.18 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.496 |
| Beta | 1.305 |
| Beta Downside | 1.486 |
| Drawdowns 3y | |
|---|---|
| Max DD | 36.71% |
| Mean DD | 17.05% |
| Median DD | 16.56% |
Description: KEYS Keysight Technologies October 14, 2025
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.
Piotroski VR‑10 (Strict, 0-10) 6.5
| Net Income (846.0m TTM) > 0 and > 6% of Revenue (6% = 322.5m TTM) |
| FCFTA 0.12 (>2.0%) and ΔFCFTA 2.79pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 46.47% (prev 56.84%; Δ -10.36pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.12 (>3.0%) and CFO 1.41b > Net Income 846.0m (YES >=105%, WARN >=100%) |
| Net Debt (1.10b) to EBITDA (1.43b) ratio: 0.77 <= 3.0 (WARN <= 3.5) |
| Current Ratio 2.35 (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 0.0% (target <= -2.0% for YES) |
| Gross Margin 62.08% (prev 62.92%; Δ -0.84pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 52.28% (prev 53.72%; Δ -1.44pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 11.98 (EBITDA TTM 1.43b / Interest Expense TTM 96.0m) >= 6 (WARN >= 3) |
Altman Z'' 5.57
| (A) 0.22 = (Total Current Assets 4.35b - Total Current Liabilities 1.85b) / Total Assets 11.29b |
| (B) 0.63 = Retained Earnings (Balance) 7.07b / Total Assets 11.29b |
| (C) 0.11 = EBIT TTM 1.15b / Avg Total Assets 10.28b |
| (D) 1.26 = Book Value of Equity 6.83b / Total Liabilities 5.42b |
| Total Rating: 5.57 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 63.74
| 1. Piotroski 6.50pt |
| 2. FCF Yield 3.74% |
| 3. FCF Margin 26.21% |
| 4. Debt/Equity 0.51 |
| 5. Debt/Ebitda 0.77 |
| 6. ROIC - WACC (= 1.58)% |
| 7. RoE 15.24% |
| 8. Rev. Trend -15.80% |
| 9. EPS Trend -53.49% |
What is the price of KEYS shares?
Over the past week, the price has changed by +2.43%, over one month by +17.36%, over three months by +24.23% and over the past year by +27.65%.
Is KEYS a buy, sell or hold?
- 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 | 215.5 | 0.7% |
| Analysts Target Price | 215.5 | 0.7% |
| ValueRay Target Price | 220.4 | 2.9% |
KEYS Fundamental Data Overview December 12, 2025
P/E Trailing = 42.3865
P/E Forward = 26.2467
P/S = 6.8033
P/B = 6.2004
P/EG = 1.6091
Beta = 1.196
Revenue TTM = 5.38b USD
EBIT TTM = 1.15b USD
EBITDA TTM = 1.43b USD
Long Term Debt = 2.53b USD (from longTermDebt, two quarters ago)
Short Term Debt = 51.0m USD (from shortTermDebt, last quarter)
Debt = 2.97b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.10b USD (from netDebt column, last quarter)
Enterprise Value = 37.67b USD (36.57b + Debt 2.97b - CCE 1.87b)
Interest Coverage Ratio = 11.98 (Ebit TTM 1.15b / Interest Expense TTM 96.0m)
FCF Yield = 3.74% (FCF TTM 1.41b / Enterprise Value 37.67b)
FCF Margin = 26.21% (FCF TTM 1.41b / Revenue TTM 5.38b)
Net Margin = 15.74% (Net Income TTM 846.0m / Revenue TTM 5.38b)
Gross Margin = 62.08% ((Revenue TTM 5.38b - Cost of Revenue TTM 2.04b) / Revenue TTM)
Gross Margin QoQ = 61.24% (prev 61.69%)
Tobins Q-Ratio = 3.34 (Enterprise Value 37.67b / Total Assets 11.29b)
Interest Expense / Debt = 0.94% (Interest Expense 28.0m / Debt 2.97b)
Taxrate = 21.74% (70.0m / 322.0m)
NOPAT = 900.0m (EBIT 1.15b * (1 - 21.74%))
Current Ratio = 2.35 (Total Current Assets 4.35b / Total Current Liabilities 1.85b)
Debt / Equity = 0.51 (Debt 2.97b / totalStockholderEquity, last quarter 5.88b)
Debt / EBITDA = 0.77 (Net Debt 1.10b / EBITDA 1.43b)
Debt / FCF = 0.78 (Net Debt 1.10b / FCF TTM 1.41b)
Total Stockholder Equity = 5.55b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.49% (Net Income 846.0m / Total Assets 11.29b)
RoE = 15.24% (Net Income TTM 846.0m / Total Stockholder Equity 5.55b)
RoCE = 14.22% (EBIT 1.15b / Capital Employed (Equity 5.55b + L.T.Debt 2.53b))
RoIC = 11.64% (NOPAT 900.0m / Invested Capital 7.73b)
WACC = 10.06% (E(36.57b)/V(39.54b) * Re(10.82%) + D(2.97b)/V(39.54b) * Rd(0.94%) * (1-Tc(0.22)))
Discount Rate = 10.82% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -81.65 | Cagr: -1.14%
[DCF Debug] Terminal Value 71.35% ; FCFE base≈1.20b ; Y1≈1.39b ; Y5≈1.96b
Fair Price DCF = 126.5 (DCF Value 21.66b / Shares Outstanding 171.3m; 5y FCF grow 17.99% → 3.0% )
EPS Correlation: -53.49 | EPS CAGR: 3.98% | SUE: 0.48 | # QB: 0
Revenue Correlation: -15.80 | Revenue CAGR: 3.44% | SUE: 4.0 | # QB: 6
EPS next Quarter (2026-01-31): EPS=1.99 | Chg30d=+0.143 | Revisions Net=+8 | Analysts=12
EPS current Year (2026-10-31): EPS=8.09 | Chg30d=+0.297 | Revisions Net=+10 | Growth EPS=+12.9% | Growth Revenue=+15.1%
EPS next Year (2027-10-31): EPS=9.25 | Chg30d=+0.426 | Revisions Net=+7 | Growth EPS=+14.4% | Growth Revenue=+6.4%
Additional Sources for KEYS Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle