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Keysight Technologies, Inc. provides electronic design and test solutions worldwide. The company operates through Communications Solutions Group and Electronic Industrial Solutions Group segments. It offers electronic design and test software, instrumentation, systems, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of communication systems in wireless, data center ecosystem, enterprise, and aerospace, defense, and government end markets. The company also develops and deploys communications products and services; and operates communications networks. In addition, it provides electronic design, test and simulation software, instrumentation, systems, computer-aided engineering solutions, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of electronic equipment in the automotive and energy, semiconductor solutions, and general electronics industries. Further, the company offers product support; technical and application support for hardware, software, and solutions; and professional services, such as installation, training, engineering, optimization of equipment and solution adoption, utilization, and integration services. Additionally, it provides oscilloscopes; generators, sources and power supplies; software products; analyzers; wireless products; network test and security; modular instruments; meters; network visibility; and other products, as well as KeysightCare support plans, calibration, repair, technology refresh, test as a service, network/security, consulting, financial alternatives, education, software testing, support, managed, device vulnerability analysis, support portal, and used equipment services. Keysight Technologies, Inc. was founded in 1939 and is headquartered in Santa Rosa, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $5.4B | $1.5B | $850M | $1.3B | 14.5% | 8.0% | 38.4% |
| 2024 | $5.0B | $1.2B | $614M | $898M | 12.0% | -8.9% | -41.9% |
| 2023 | $5.5B | $1.6B | $1.1B | $1.2B | 22.7% | 0.8% | -6.0% |
| 2022 | $5.4B | $1.6B | $1.1B | $959M | 27.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 5,420 | 5,464 | 4,979 | 5,375 |
| Operating Revenue | - | 5,420 | 5,464 | 4,979 | 5,375 |
| Cost Of Revenue | - | 1,970 | 1,932 | 1,846 | 2,038 |
| Gross Profit | - | 3,450 | 3,532 | 3,133 | 3,337 |
| Operating Expense | - | 2,116 | 2,174 | 2,300 | 2,461 |
| Research And Development | - | 841 | 882 | 919 | 1,007 |
| Selling General And Administration | - | 1,283 | 1,307 | 1,395 | 1,474 |
| Total Expenses | - | 4,086 | 4,106 | 4,146 | 4,499 |
| Operating Income | - | 1,334 | 1,358 | 833 | 876 |
| Total Operating Income As Reported | - | 1,334 | 1,358 | 833 | 876 |
| EBITDA | - | 1,587 | 1,647 | 1,219 | 1,454 |
| Normalized EBITDA | - | 1,587 | 1,647 | 1,219 | 1,454 |
| EBIT | - | 1,364 | 1,435 | 949 | 1,178 |
| Interest Income | - | 16 | 102 | 81 | 102 |
| Interest Expense | - | 79 | 78 | 84 | 96 |
| Net Interest Income | - | -63 | 24 | -3 | 6 |
| Other Non Operating Income Expenses | - | 14 | -25 | 35 | 200 |
| Other Income Expense | - | 14 | -25 | 35 | 200 |
| Interest Income Non Operating | - | 16 | 102 | 81 | 102 |
| Interest Expense Non Operating | - | 79 | 78 | 84 | 96 |
| Net Non Operating Interest Income Expense | - | -63 | 24 | -3 | 6 |
| Pretax Income | - | 1,285 | 1,357 | 865 | 1,082 |
| Tax Provision | - | 161 | 300 | 251 | 213 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 1,124 | 1,057 | 614 | 869 |
| Net Income From Continuing And Discontinued Operation | - | 1,124 | 1,057 | 614 | 850 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,124 | 1,057 | 614 | 869 |
| Net Income | - | 1,124 | 1,057 | 614 | 850 |
| Net Income Common Stockholders | - | 1,124 | 1,057 | 614 | 850 |
| Net Income Including Noncontrolling Interests | - | 1,124 | 1,057 | 614 | 850 |
| Normalized Income | - | 1,124 | 1,057 | 614 | 869 |
| Diluted NI Availto Com Stockholders | - | 1,124 | 1,057 | 614 | 850 |
| Basic Average Shares | - | 180 | 178 | 174 | 172 |
| Diluted Average Shares | - | 182 | 179 | 175 | 173 |
| Reconciled Depreciation | - | 223 | 212 | 270 | 276 |
| Reconciled Cost Of Revenue | - | 1,970 | 1,932 | 1,846 | 2,038 |
| Net Income Discontinuous Operations | - | - | 0 | 0 | -19 |
| Other Operating Expenses | - | -8 | -15 | -14 | -20 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Keysight Technologies, Inc.this co. | KEYS | $58.6B | 68.92↓ discount | 9.96 | 14.5% | 40.91 |
| Hewlett Packard Enterprise Company | HPE | $71.1B | 1247.31 | 2.88 | 0.2% | 20.41 |
| Motorola Solutions, Inc. | MSI | $68.2B | 31.65 | 28.29 | 89.4% | 21.35 |
| TE Connectivity plc | TEL | $64.4B | 34.98 | 5.12 | 14.6% | 16.75 |
| Teradyne, Inc. | TER |
| - |
| - |
| - |
| - |
| - |
| - |
| $63.7B |
| 114.96 |
| 22.78 |
| 19.8% |
| 80.80 |
| Microchip Technology Incorporated | MCHP | $52.2B | 439.41 | 8.12 | 1.8% | 48.80 |
| ON Semiconductor Corporation | ON | $51.3B | 423.57 | 6.68 | 1.6% | 58.67 |
| Autodesk, Inc. | ADSK | $49.3B | 43.89 | 16.20 | 36.9% | 25.05 |
| Garmin Ltd. | GRMN | $46.7B | 28.04 | 5.20 | 18.5% | 21.58 |
| Peer Median | - | 79.42 | 7.40 | 16.6% | 23.31 | |