Keysight Technologies
Design, emulation, and test systems spanning electronics R&D through network operations.
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Profile
Provides electronic design, emulation, and test instruments, software, and services for communications, aerospace and defense, automotive, semiconductor, and general-electronics customers. Most business runs through direct sales, with revenue centered on R&D workflows and the larger Communications Solutions Group.
Supplies electronic design, emulation, and test hardware, software, and services across product development, manufacturing, deployment, and operations. Instruments such as oscilloscopes and signal and network analyzers pair with PathWave design tools, virtual prototyping, automated software testing, network assurance, calibration, and engineering support.
Communications Solutions Group serves commercial communications and aerospace, defense, and government markets; Electronic Industrial Solutions Group covers automotive and energy, semiconductors, and general electronics. A global direct-sales and applications-engineering network connects customers with R&D teams, while specialized in-house component technology supports high-performance instruments.
Sales span more than 100 countries, with international markets contributing most revenue. Production combines proprietary U.S. and German technology centers, a major Malaysian manufacturing hub, and contract suppliers; custom components can lack ready substitutes, and export controls can restrict technology and software sales.
Company facts
Key statistics
Year to date +54.7% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 19, 2026 | Morgan Stanley | Reiterate | Overweight | $400 | $425 |
| Aug 19, 2026 | UBS | Reiterate | Buy | $420 | $440 |
| Aug 19, 2026 | Truist Financial | Target | $376 | $400 | |
| Aug 19, 2026 | Susquehanna | Reiterate | Positive | $425 | $440 |
| Aug 19, 2026 | Robert W. Baird | Target | $385 | $410 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 18, 2026Q3 FY26 | $2.48 | $3.07 | +23.8% | $1.75B | $1.85B | +5.7% | −6.32% |
| May 19, 2026Q2 FY26 | $2.32 | $2.87 | +23.7% | $1.71B | $1.72B | +0.7% | −0.59% |
| Feb 23, 2026Q1 FY26 | $2.00 | $2.17 | +8.5% | $1.54B | $1.60B | +3.9% | +23.05% |
| Nov 24, 2025Q4 FY25 | $1.83 | $1.91 | +4.4% | $1.38B | $1.42B | +2.5% | +10.01% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $1.35B | $1.42B | $1.60B | $1.72B | $1.85B | |
| Gross profit | $814.0M | $834.0M | $869.0M | $995.0M | $1.18B | $1.22B | |
| Operating income | $207.0M | $234.0M | $217.0M | $248.0M | $407.0M | $461.0M | |
| Net income | $257.0M | $191.0M | $229.0M | $281.0M | $349.0M | $397.0M | |
| Diluted EPS | $1.49 | $1.10 | $1.32 | $1.63 | $2.02 | $2.29 | |
| Gross margin | 62.3% | 61.7% | 61.2% | 62.2% | 68.6% | 65.9% | |
| Operating margin | 15.8% | 17.3% | 15.3% | 15.5% | 23.7% | 25.0% |
Fiscal years (4-quarter sums)FY21 $4.94B · FY22 $5.42B · FY23 $5.46B · FY24 $4.98B · FY25 $5.38B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jul 31, 2026Cash & short-term investments $2.61B · Total debt $2.75B · Total assets $11.92B · Shareholders' equity $6.57B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 170.90M · Float 169.86M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 20.08M | 11.75% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 11.19M | 6.55% | 13F | Aug 13, 2026 |
| Price T Rowe Associates Inc /MD/ | 9.61M | 5.63% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 8.62M | 5.04% | 13F | Aug 13, 2026 |
| State Street Corp | 8.27M | 4.84% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Jean Mcclung Nye | director | −3,000 | $319.22 |
| Aug 20, 2026 | Ingrid A. Estrada | officer: SVP | −2,000 | $314.66 |
| Jun 30, 2026 | Ingrid A. Estrada | officer: SVP | −2,000 | $340.87 |
| Jun 25, 2026 | Satish Dhanasekaran | director, officer: President and CEO | −507 | $361.32 |
| Jun 2, 2026 | James Cullen | director | −3,000 | $346.58 |
Peers
- Ralliant
Tektronix, Keithley — oscilloscopes, precision measurement, semiconductor test.
- Viavi Solutions
Network test and fiber assurance; absorbed three Spirent units from Keysight.
- Teradyne
Top-2 ATE vendor; competes in wireless, semiconductor, and board test.
- Emerson Electric
NI/Emerson PXI and software-centric automated test — LabVIEW vs PathWave.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Keysight Technologies | $319.97 | +0.09% | $54.68B | 44.1 | 24.0 | 8.3 | +36.5% |
| Ralliant | $61.41 | −0.45% | $6.83B | — | 20.0 | 3.1 | +12.8% |
| Viavi Solutions | $36.96 | +1.18% | $9.01B | — | 22.7 | 5.9 | +52.5% |
| Teradyne | $356.69 | +0.55% | $55.50B | 48.7 | 36.2 | 12.4 | +103.9% |
| Emerson Electric | $156.00 | +0.53% | $86.93B | 34.0 | 22.0 | 4.7 | +7.0% |
| Median | 41.3 | 22.4 | 5.3 | +32.7% |