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Stocks · Technology · Industrial Instruments For Measurement, Display, and Control

Keysight Technologies

KEYS Clue Score46
United States Fiscal year ends October CIK 0001601046
$382.75 +2.16% Close, 9 Oct 2026
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Price $382.75 +136.73% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2.92Operating income0.41Net income0.34EPS, diluted1.95Fiscal year 2017Revenue3.19 +9.3%Operating income0.15Net income0.10 −69.6%EPS, diluted0.56 −71.3%Fiscal year 2018Revenue3.88 +21.6%Operating income−0.39Net income0.17 +61.8%EPS, diluted0.86 +53.6%Fiscal year 2019Revenue4.30 +11.0%Operating income0.71Net income0.62 +276.4%EPS, diluted3.25 +277.9%Fiscal year 2020Revenue4.22 −1.9%Operating income0.77Net income0.63 +1.0%EPS, diluted3.31 +1.8%Fiscal year 2021Revenue4.94 +17.1%Operating income1.08Net income0.89 +42.6%EPS, diluted4.78 +44.4%Fiscal year 2022Revenue5.42 +9.7%Operating income1.33Net income1.12 +25.7%EPS, diluted6.18 +29.3%Fiscal year 2023Revenue5.46 +0.8%Operating income1.36Net income1.06 −6.0%EPS, diluted5.91 −4.4%Fiscal year 2024Revenue4.98 −8.9%Operating income0.83Net income0.61 −41.9%EPS, diluted3.51 −40.6%Fiscal year 2025Revenue5.38 +8.0%Operating income0.88Net income0.85 +38.4%EPS, diluted4.91 +39.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2.92 3.19 3.88 4.30 4.22 4.94 5.42 5.46 4.98 5.38
Growth +9.3% +21.6% +11.0% −1.9% +17.1% +9.7% +0.8% −8.9% +8.0%
Operating income 0.41 0.15 −0.39 0.71 0.77 1.08 1.33 1.36 0.83 0.88
Net income 0.34 0.10 0.17 0.62 0.63 0.89 1.12 1.06 0.61 0.85
Growth −69.6% +61.8% +276.4% +1.0% +42.6% +25.7% −6.0% −41.9% +38.4%
EPS, diluted 1.95 0.56 0.86 3.25 3.31 4.78 6.18 5.91 3.51 4.91
Growth −71.3% +53.6% +277.9% +1.8% +44.4% +29.3% −4.4% −40.6% +39.9%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin13.9%Net margin11.5%Free cash flow margin11.3%Fiscal year 2017Operating margin4.6%Net margin3.2%Free cash flow margin8.0%Fiscal year 2018Operating margin−10.2%Net margin4.3%Free cash flow margin10.9%Fiscal year 2019Operating margin16.5%Net margin14.4%Free cash flow margin20.4%Fiscal year 2020Operating margin18.1%Net margin14.9%Free cash flow margin21.3%Fiscal year 2021Operating margin21.9%Net margin18.1%Free cash flow margin23.2%Fiscal year 2022Operating margin24.6%Net margin20.7%Free cash flow margin17.7%Fiscal year 2023Operating margin24.9%Net margin19.3%Free cash flow margin22.2%Fiscal year 2024Operating margin16.7%Net margin12.3%Free cash flow margin18.0%Fiscal year 2025Operating margin16.3%Net margin15.8%Free cash flow margin23.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 13.9% 4.6% −10.2% 16.5% 18.1% 21.9% 24.6% 24.9% 16.7% 16.3%
Net margin 11.5% 3.2% 4.3% 14.4% 14.9% 18.1% 20.7% 19.3% 12.3% 15.8%
Free cash flow margin 11.3% 8.0% 10.9% 20.4% 21.3% 23.2% 17.7% 22.2% 18.0% 23.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.42Capital expenditure−0.09Free cash flow0.33Buybacks−0.06Fiscal year 2017Operating cash flow0.33Capital expenditure−0.07Free cash flow0.26 −22.2%Buybacks0.00Fiscal year 2018Operating cash flow0.56Capital expenditure−0.13Free cash flow0.42 +65.2%Buybacks−0.12Fiscal year 2019Operating cash flow1.00Capital expenditure−0.12Free cash flow0.88 +107.6%Buybacks−0.16Fiscal year 2020Operating cash flow1.02Capital expenditure−0.12Free cash flow0.90 +2.4%Buybacks−0.41Fiscal year 2021Operating cash flow1.32Capital expenditure−0.17Free cash flow1.15 +27.7%Buybacks−0.67Fiscal year 2022Operating cash flow1.14Capital expenditure−0.19Free cash flow0.96 −16.5%Buybacks−0.85Fiscal year 2023Operating cash flow1.41Capital expenditure−0.20Free cash flow1.21 +26.3%Buybacks−0.70Fiscal year 2024Operating cash flow1.05Capital expenditure−0.15Free cash flow0.90 −25.8%Buybacks−0.44Fiscal year 2025Operating cash flow1.41Capital expenditure−0.13Free cash flow1.28 +42.7%Buybacks−0.38
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.42 0.33 0.56 1.00 1.02 1.32 1.14 1.41 1.05 1.41
Capital expenditure −0.09 −0.07 −0.13 −0.12 −0.12 −0.17 −0.19 −0.20 −0.15 −0.13
Free cash flow 0.33 0.26 0.42 0.88 0.90 1.15 0.96 1.21 0.90 1.28
Growth −22.2% +65.2% +107.6% +2.4% +27.7% −16.5% +26.3% −25.8% +42.7%
Buybacks −0.06 0.00 −0.12 −0.16 −0.41 −0.67 −0.85 −0.70 −0.44 −0.38

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.78Total debt1.09Net cash (debt)−0.31Shareholders’ equity1.51Debt to equity0.72Fiscal year 2017Cash0.82Total debt2.05Net cash (debt)−1.23Shareholders’ equity2.31Debt to equity0.89Fiscal year 2018Cash0.91Total debt1.79Net cash (debt)−0.88Shareholders’ equity2.43Debt to equity0.74Fiscal year 2019Cash1.60Total debt1.79Net cash (debt)−0.19Shareholders’ equity3.00Debt to equity0.60Fiscal year 2020Cash1.76Total debt1.79Net cash (debt)−0.03Shareholders’ equity3.30Debt to equity0.54Fiscal year 2021Cash2.05Total debt1.79Net cash (debt)0.26Shareholders’ equity3.78Debt to equity0.47Fiscal year 2022Cash2.04Total debt1.79Net cash (debt)0.25Shareholders’ equity4.16Debt to equity0.43Fiscal year 2023Cash2.47Total debt1.79Net cash (debt)0.68Shareholders’ equity4.65Debt to equity0.39Fiscal year 2024Cash1.80Total debt1.79Net cash (debt)0.01Shareholders’ equity5.11Debt to equity0.35Fiscal year 2025Cash1.87Total debt2.53Net cash (debt)−0.66Shareholders’ equity5.88Debt to equity0.43
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.78 0.82 0.91 1.60 1.76 2.05 2.04 2.47 1.80 1.87
Total debt 1.09 2.05 1.79 1.79 1.79 1.79 1.79 1.79 1.79 2.53
Net cash (debt) −0.31 −1.23 −0.88 −0.19 −0.03 0.26 0.25 0.68 0.01 −0.66
Shareholders’ equity 1.51 2.31 2.43 3.00 3.30 3.78 4.16 4.65 5.11 5.88
Debt to equity 0.72 0.89 0.74 0.60 0.54 0.47 0.43 0.39 0.35 0.43

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending October, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Oct 2016 FY2017 31 Oct 2017 FY2018 31 Oct 2018 FY2019 31 Oct 2019 FY2020 31 Oct 2020 FY2021 31 Oct 2021 FY2022 31 Oct 2022 FY2023 31 Oct 2023 FY2024 31 Oct 2024 FY2025 31 Oct 2025
Revenue and profit
2.92 3.19 3.88 4.30 4.22 4.94 5.42 5.46 4.98 5.38
Growth +9.3% +21.6% +11.0% −1.9% +17.1% +9.7% +0.8% −8.9% +8.0%
1.29 1.49 1.77 1.77 1.69 1.87 1.97 1.93 1.85 2.04
0.43 0.51 0.62 0.69 0.72 0.81 0.84 0.88 0.92 1.01
0.82 1.06 1.21 1.16 1.10 1.20 1.28 1.31 1.40 1.47
0.41 0.15 −0.39 0.71 0.77 1.08 1.33 1.36 0.83 0.88
Growth −63.5% −366.2% +7.6% +41.2% +23.5% +1.8% −38.7% +5.2%
0.55 0.60 0.74 0.72 0.76 1.01 1.29 1.36 0.87 1.08
0.03 0.08 −0.58 0.09 0.13 0.12 0.16 0.30 0.25 0.21
0.34 0.10 0.17 0.62 0.63 0.89 1.12 1.06 0.61 0.85
Growth −69.6% +61.8% +276.4% +1.0% +42.6% +25.7% −6.0% −41.9% +38.4%
Per share
1.97 0.57 0.88 3.31 3.35 4.84 6.23 5.95 3.53 4.93
1.95 0.56 0.86 3.25 3.31 4.78 6.18 5.91 3.51 4.91
Growth −71.3% +53.6% +277.9% +1.8% +44.4% +29.3% −4.4% −40.6% +39.9%
170.0 180.0 187.0 188.0 187.0 185.0 180.0 178.0 174.0 172.0
172.0 182.0 191.0 191.0 189.0 187.0 182.0 179.0 175.0 173.0
Growth +5.8% +4.9% +0.0% −1.0% −1.1% −2.7% −1.6% −2.2% −1.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 5.0% a year over five years, and earnings per share grew 8.2% a year.
  • The diluted share count fell 8.5% in five years, so buybacks did some of the work per share.
  • Operating margin is down 1.8 points on five years ago, at 16.3%.
  • Profitable in every one of the 10 years on file.