Keysight Technologies (KEYS)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $63.4B, Keysight Technologies's free cash flow of $1.3B (fiscal 2025) would need to grow about 17% a year for the stock to be worth today's price. That is close to what the company has delivered over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Keysight Technologies's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from KEYS's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Keysight Technologies's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.9B | $5.4B | $5.5B | $5.0B | $5.4B |
| Net income | $894M | $1.1B | $1.1B | $614M | $850M |
| Free cash flow | $1.1B | $959M | $1.2B | $898M | $1.3B |
| EPS (diluted) | $4.78 | $6.18 | $5.91 | $3.51 | $4.91 |
| Operating margin | 21.9% | 24.6% | 24.9% | 16.7% | 16.3% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own KEYS
From each investor's latest 13F filing (what a 13F shows). 9 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Added | $346M | 0.12% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $206M | 0.12% | Q2 2026 |
| Dan Loeb Third Point LLC |
New position | $205M | 4.4% | Q2 2026 |
| John Rogers Ariel Investments |
Trimmed | $51M | 0.51% | Q2 2026 |
| Francois Rochon Giverny Capital Inc. |
Trimmed | $50M | 1.7% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $46M | 0.11% | Q2 2026 |
| Will Nasgovitz Heartland Advisors |
Trimmed | $14M | 0.61% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Trimmed | $2M | 0.02% | Q2 2026 |
| Lee Ainslie Maverick Capital |
New position | $800,960 | 0.01% | Q2 2026 |
Insider buying
Open-market purchases by Keysight Technologies's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Mar 30, 2026 | Ro Khanna |
0 | $268.98 | — |
| Mar 30, 2026 | Ro Khanna |
0 | $268.98 | — |
| Feb 5, 2026 | Ro Khanna |
0 | $221.67 | — |
| Feb 5, 2026 | Ro Khanna |
0 | $221.67 | — |
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In the full deep dive
Questions
What growth does Keysight Technologies's stock price imply?
At a market value of $63.4B, Keysight Technologies would need its free cash flow to grow about 17% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 16% a year.
Are Keysight Technologies insiders buying the stock?
4 open-market insider purchases of KEYS in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Keysight Technologies?
9 of the superinvestors Investingly tracks hold KEYS in their latest 13F, including Cliff Asness, PRIMECAP Management, Dan Loeb.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.