KEYS vs TRMB: Keysight Technologies and Trimble compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Keysight Technologies is the larger company, worth $62.5B, about 4.4 times Trimble.
- Keysight Technologies grew revenue faster over the last year (+36.5% vs +11.0%).
- Keysight Technologies keeps more of each dollar of revenue as operating profit (20.2% vs 17.0%).
- On earnings, Trimble is the cheaper stock (32.1x vs 58.9x).
- Keysight Technologies's price assumes faster free cash flow growth: about 17% a year, against 14% for Trimble (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | KEYS | TRMB |
|---|---|---|
| Market cap | $62.5B | $14.3B |
| Share price | $382.75 | $60.09 |
| Revenue (last fiscal year) | $5.4B | $3.6B |
| Free cash flow (last fiscal year) | $1.3B | $361M |
| Revenue growth, last year | +36.5% | +11.0% |
| Revenue growth per year, last 5 fiscal years | +2.1% | -0.5% |
| Operating margin | 20.2% | 17.0% |
| Net margin | 19.1% | -2.8% |
| Return on equity | 19.2% | -2.0% |
| P/E (trailing) | 58.9x | 32.1x |
| Price / free cash flow | 48.8x | 107.2x |
| EV / EBITDA | 32.9x | 55.6x |
| FCF growth the price implies | 16.7% | 13.9% |
| Dividend yield | — | — |
| Debt / equity | 0.81x | 0.67x |
| Fundamental grade | B | D |
| Superinvestors holding it | 9 | 3 |
| Insider purchases, last 12 months | 4 | 6 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Keysight Technologies
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.9B | $1.1B | 21.9% |
| 2022 | $5.4B | $959M | 24.6% |
| 2023 | $5.5B | $1.2B | 24.9% |
| 2024 | $5.0B | $898M | 16.7% |
| 2025 | $5.4B | $1.3B | 16.3% |
Trimble
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.7B | $704M | 15.3% |
| 2022 | $3.7B | $348M | 13.9% |
| 2023 | $3.8B | $555M | 11.8% |
| 2024 | $3.7B | $498M | 12.5% |
| 2025 | $3.6B | $361M | 16.5% |
Where the revenue comes from
Keysight Technologies · by segments, 2025
CSG$3.7B69%
EISG$1.6B31%
Trimble · by segments, 2025
Field Systems$1.5B43%
AECO$1.5B42%
T&L$549M15%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open KEYS in InvestinglyQuestions
Which is bigger, Keysight Technologies or Trimble?
Keysight Technologies (KEYS), at $62.5B against $14.3B.
Is KEYS or TRMB cheaper?
By trailing P/E, Trimble (32.1x) is cheaper than Keysight Technologies (58.9x). A lower multiple can also mean the market expects less growth.
Which grows faster, KEYS or TRMB?
Keysight Technologies: revenue grew +36.5% over the last year, against +11.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.