KEYSKeysight Technologies

$314.61+94% 1Y

$314.61

$162.1952 weeks$388.01

Is the business good?

Mixed

The checks split: earnings fully cash-backed (1.3×), but margins compressing.

1 good, 1 to watch, 2 neutral

Fundamental health (F-score)5 / 9SEC EDGAR · Oct 31, 2025

Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.

Profits arrive as cash1.33×derived · Jul 31, 2026

Operating profit is fully backed by cash. Conversion is worsening vs a year ago.

Margin direction, 3 years−5.5 pts

Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.

Where ROE comes from9% ROA

Margin-driven, fat margins on slower asset turns. ROE 16% = margin × turnover × leverage.

Unless marked, from derived.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

FCF conversionmiddle of the market

Leverage (Debt/EBITDA)better than 72% of the market

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

Keysight Technologies earns 16% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.

16%

Return on invested capital · cost of capital 9.0% · 7.2 points above what the capital costs: growth creates value

Operating margin: 20%
Operating margin · Scientific & Technical Instruments median 17% · 12 months to Q3 2026
Cash conversion: 1.33×
Cash conversion · 3.22× a year ago · operating cash flow covers the operating profit after tax
Share count, year on year: 0.00%
Share count, year on year · flat: no meaningful dilution

Details›

Gross margin12 months to Q3 2026: 65%
Operating margin12 months to Q3 2026: 20%
Net margin12 months to Q3 2026: 19%
Free cash flow margin: 22%
R&D as % of revenue: 18%
Revenue, trailing twelve months: $6.58B
Free cash flow, trailing twelve months: $1.47B
Net income, trailing twelve months: $1.26B
Return on invested capitaloperating profit after tax ÷ debt + equity − cash: 16%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.

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