KEYS Keysight Technologies, Inc.

Overview and Growth

Keysight Technologies, Inc. generated $5.38B of revenue in fiscal 2025, with net income of $850.00M and an operating cash inflow of $1.41B. Revenue of $5.38B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $4.98B in fiscal 2024, revenue recorded a 8.0% year-over-year increase. Diluted earnings per share were $4.91, translating the period’s attributable earnings into the amount reported for each diluted share. Against diluted EPS of $3.51 in fiscal 2024, the current result was 39.9% higher. The revenue-to-assets relationship was 0.48x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Gross profit was $3.34B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 62.1% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $876.00M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 16.3%, showing how efficiently sales converted into operating profit. Net income came to $850.00M, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 15.8%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $1.08B of earnings, providing a bridge between the operating result and final net income. Pretax income represented 20.1% of revenue, placing earnings before tax in the context of the company’s operating scale. The company recognized $213.00M of income tax for the period, completing the transition from pretax income to net income. The effective relationship between income tax and positive pretax income was 19.7%, without assuming a statutory-rate comparison.

Liquidity and Capital Structure

The company held $11.30B of assets against $5.42B of liabilities and $5.88B of equity, revealing how the asset base was financed. The near-term balance sheet paired $4.35B of current assets with $1.85B of current liabilities at the reporting date. At 2.35x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $1.87B, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 101.2% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $2.53B of total debt at period end, which frames its leverage and debt-service burden. Against book equity, debt measured 0.43x, placing the company’s financial leverage in clear balance-sheet terms. Debt represented 22.4% of total assets, placing borrowing in the context of the company’s full resource base. The liabilities-to-assets relationship was 48.0%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 16.6%, a balance-sheet composition measure rather than a liquidity forecast.

Cash Flow and Earnings Quality

The company reported $1.41B of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.66x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $128.00M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 9.1% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $1.28B, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 23.8% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 11.3% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Oct 31, 2025. Analysis generated Oct 21, 2026.