KEYS Financials Keysight Technologies

7 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated 30 h ago Overview →

Growth & profitability

Revenue has grown 5.0% per year over the past 5 years.
Net income has grown slower than revenue (-8.9% vs 5.0% per year).
Operating margin has contracted, at 16.3% in the latest year.
Free cash flow has grown 7.3% per year over the past 5 years.

Financial health

Total debt ($2.5B) exceeds cash ($1.9B); net debt is $661M.
Total debt has grown in line with revenue (7.2% vs 5.0% per year).
Operating income covered interest expense 9.1× in the latest year, down from 9.8× 5 years ago.
Total debt is 2.9× EBITDA.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
2025	$5.4B	$850M	62.1%	16.3%	$1.3B	$2.5B	$1.9B
2024	$5.0B	$614M	62.9%	16.7%	$898M	$1.8B	$1.8B
2023	$5.5B	$1.1B	64.6%	24.9%	$1.2B	$1.8B	$2.5B
2022	$5.4B	$1.1B	63.7%	24.6%	$959M	$1.8B	$2.0B
2021	$4.9B	—	62.1%	21.9%	$1.1B	$1.8B	$2.1B
2020	$4.2B	—	60.0%	18.1%	$899M	$1.8B	$1.8B
2019	$4.3B	—	58.9%	16.5%	$878M	$1.8B	$1.6B

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	FCF	Total debt	Cash
Apr '26	$1.7B	$349M	68.6%	23.7%	$472M	$2.5B	$2.4B
Jan '26	$1.6B	$281M	62.2%	15.5%	$407M	$2.5B	$2.2B
Oct '25	—	$233M	—	—	$187M	$2.5B	$1.9B
Jul '25	$1.4B	$191M	61.7%	17.3%	$291M	$2.5B	$2.6B
Apr '25	$1.3B	$257M	62.3%	15.8%	$457M	$2.5B	$3.1B
Jan '25	$1.3B	$169M	63.2%	16.8%	$346M	$1.8B	$2.1B
Oct '24	—	-$73M	—	—	$321M	$1.8B	$1.8B
Jul '24	$1.2B	$389M	62.0%	16.8%	$222M	$1.8B	$1.6B
Apr '24	—	$126M	—	—	$74M	$1.8B	$1.7B
Jan '24	—	$172M	—	—	$281M	$1.8B	$1.7B
Oct '23	—	$226M	—	—	$339M	$1.8B	$2.5B
Jul '23	—	$288M	—	—	$196M	$1.8B	$2.6B
Apr '23	—	$283M	—	—	$370M	$1.8B	$2.5B
Jan '23	—	$260M	—	—	$306M	$1.8B	$2.2B

Valuation over time

How the market has priced KEYS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has risen from 24.6× (Mar '23) to 72.4× (Jun '26).
The price-to-sales ratio has risen from 5.1× (Mar '23) to 11.5× (Jun '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Frequently asked questions

Is KEYS growing its revenue and profit?

Over the past 5 years, Keysight Technologies's revenue has grown 5.0% per year, and net income declined 8.9% per year. These are computed facts, not advice.

How much debt does KEYS have?

As of FY2025, Keysight Technologies reported $2.5B of total debt against $1.9B of cash; operating income covered interest expense 9.1×.

What is KEYS's profit margin?

In FY2025, gross margin was 62.1%, operating margin 16.3%, and net margin 15.8%.

What is KEYS's P/E ratio?

As of Jun '26, Keysight Technologies traded at a price-to-earnings ratio of about 72.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.