Keysight Technologies, Inc.

Industrials
Industrial Machinery/Components
www.keysight.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $29.88B
PE 33
Debt $2.40B
Cash $1.65B
EV $30.63B
FCF $917.00M

Earnings

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Sales & Net Margins

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Earnings	$913.00M
EBIT	$894.00M
ROE	17%
ROA	10%
FCF	$917.00M
Equity	$5.23B
Growth Stability	52%
PE	32.73
PEG	2.39
PB	5.71
P/FCF	32.59
P/S	5.97
Price/Cash	0.06
Debt/Equity	0.46
Debt/FCF	2.61
Net Margins	19%
Gross Margins	63%
Op. Margins	18%
Earnings CAGR	23%
Sales Growth YoY	-12%
Sales Growth QoQ	0%
Sales CAGR	9%
FCF CAGR	22%
Equity CAGR	18%
Earnings Stability	0.51
Earnings Growth YoY	35%
Earnings Growth QoQ	209%

Earnings CAGR 5Y	14%
Sales CAGR 5Y	6%
FCF CAGR 5Y	4%
Equity CAGR 5Y	12%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	-0%
Equity CAGR 3Y	13%
Market Cap	$29.88B
Revenue	$5.00B
Assets	$9.32B
Total Debt	$2.40B
Cash	$1.65B
Shares Outstanding	174M
EV	30.63B
Earnings Score	79%
Moat Score	93%
Safety Score	70%
Final Score	81%
Working Capital	2.05B
Current Ratio	2.05
Gross Profit	$3.18B
Shares Growth 3y	-2%
Equity Growth QoQ	7%
Equity Growth YoY	7%

Assets & ROA

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Stockholders Equity & ROE

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Keysight Technologies is a leader in the field of testing and measurement, helping electronics OEMs and suppliers alike bring products to market to fit industry standards and specifications. Keysight specializes in the communications market, but also supplies into the government, automotive, industrial, and semiconductor manufacturing markets. Keysight's solutions include testing tools, analytical software, and services. The firm's stated objective is to reduce time to market and improve efficiency at its more than 30,000 customers.

SEC Filings

Direct access to Keysight Technologies, Inc. (KEYS) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Jul 31
- 10-Q Apr 30
- 10-Q Jan 31
2023
- 10-K Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-Q Jan 31
2022
- 10-K Oct 31
- 10-Q Jul 31
- 10-Q Apr 30
- 10-Q Jan 31

Sector Comparison

How does Keysight Technologies, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Keysight Technologies, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 23%

Stability 51%

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Keysight Technologies, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Keysight Technologies, Inc..

Years

Calculation mode

= $44B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$917M	$1.1B	$1.4B	$1.7B	$2.1B	$2.5B	$3.1B	$3.8B	$4.6B	$5.7B	$6.9B	$69B
DCF		$1B	$1.1B	$1.3B	$1.4B	$1.6B	$1.7B	$1.9B	$2.2B	$2.4B	$2.7B	$27B
Value	$44B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	10/2015	10/2016	10/2017	10/2018	10/2019	10/2020	10/2021	10/2022	10/2023	TTM
Net Margins	18%	11%	3%	4%	14%	15%	18%	21%	19%	19%
ROA	-	14%	10%	13%	16%	15%	14%	16%	16%	10%
ROE	-	22%	4%	7%	21%	19%	24%	27%	23%	17%

Good Net Margins (18.61%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	10/2015	10/2016	10/2017	10/2018	10/2019	10/2020	10/2021	10/2022	10/2023	TTM
Debt over FCF	-	3.38	8.54	4.23	2.04	1.99	1.56	1.87	1.97	2.61
Debt over Equity	0.84	0.73	0.89	0.74	0.6	0.54	0.47	0.43	0.51	0.46
Growth Stability	-	-	-	52%	100%	100%	100%	100%	100%	52%

Neutral Debt/FCF ratio (2.61)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.46)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (52%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	10/2015	10/2016	10/2017	10/2018	10/2019	10/2020	10/2021	10/2022	10/2023	CAGR 5Y
Revenue YoY growth	-	2%	9%	22%	11%	-2%	17%	10%	1%	6%
Earnings YoY growth	-	-35%	-70%	62%	276%	1%	43%	26%	-6%	14%
Equity YoY growth	-	16%	53%	5%	23%	10%	15%	10%	12%	12%
FCF YoY growth	-	14%	-26%	76%	108%	2%	28%	-16%	26%	4%