Keysight Technologies is the market-leading provider of electronic design and test solutions with roots tracing to 1939, delivering record Q2 FY2026 results (revenue +31% YoY) fueled by AI, 5G/6G, and defense demand, supported by a Moderate Buy analyst consensus with average price targets implying meaningful upside, while serving over 40,000 customers across diversified end markets amid premium valuation metrics.
| Period | KEYS Total Return | S&P 500 Comparison |
|---|---|---|
| YTD (as of early Aug 2026) | ~58% | ~11% |
| 1-Year | ~103% | ~22% |
| 3-Year | ~103% | ~69% |
| 5-Year | ~93% | ~72% |
Performance has significantly outpaced the broader market, with notable acceleration in 2025-2026 linked to AI infrastructure investments. Source: Yahoo Finance performance data
Data Limitation: Returns are trailing total returns as of approximately August 3, 2026; past performance does not guarantee future results. 52-week range referenced in sources but current price omitted per guidelines.
| Metric | Value | Notes |
|---|---|---|
| Revenue (TTM) | $6.09 billion | Strong sequential growth |
| Net Income (TTM) | $1.07 billion | Profit margin 17.31% |
| EPS (TTM, diluted) | $6.22 | GAAP basis |
| ROE (TTM) | 18.17% | Return on Equity |
| ROA (TTM) | 6.04% | Return on Assets |
| Beta (5Y Monthly) | 1.21 | Moderate volatility |
| Market Cap (approx.) | ~$55 billion | As referenced in sources |
| Cash (mrq) | $2.41 billion | Strong liquidity |
| Debt/Equity (mrq) | 43.64% | Manageable leverage |
Full-year FY2025 revenue was $5.37B (+8% YoY). Management raised FY2026 outlook post-Q2, guiding strong double-digit growth. Source: Keysight Investor Relations earnings releases
Interpretation: Robust growth appears driven by AI data center, commercial communications, aerospace/defense, and semiconductor demand, with segment margins expanding (e.g., CSG ~33% in recent quarter).
Uncertainties: Forward guidance depends on sustained AI capex and macro conditions; Q3 FY2026 guidance was $1.73B–$1.75B revenue (~29% YoY at midpoint).
| Rating | Count/Details |
|---|---|
| Consensus | Moderate Buy / Buy |
| Buy Ratings | 10–11 (majority) |
| Hold | 3–4 |
| Sell | 0–1 |
| Average Price Target | $362–$388 (range: Low $220–$250, High $425–$426) |
Recent actions include multiple upgrades (e.g., Morgan Stanley to Overweight, Susquehanna, Citi, JPMorgan, Truist, Baird raising targets post-Q2 earnings). Sources: MarketBeat, TipRanks, Yahoo Finance analyst summaries
Interpretation: Analysts view the company favorably due to earnings beats, raised guidance, and exposure to secular AI/6G/defense trends.
Uncertainties: Targets reflect 12-month horizons and can shift with new data; wide range indicates some divergence in valuation views.
Diversified base with concentration in communications ecosystem; solutions used from design through network optimization. Source: Keysight Investor Relations
| Competitor | Key Overlap Areas | Relative Position Notes |
|---|---|---|
| Rohde & Schwarz | RF/wireless, defense, spectrum analysis | Strong premium rival in communications/defense |
| Anritsu | Wireless test, optical, service assurance | Direct competitor in field and protocol testing |
| Tektronix (Fortive) | Oscilloscopes, general electronics test | Key player in lab/debug equipment |
| Teledyne LeCroy | Oscilloscopes, protocol analyzers | Specialized in high-speed serial data |
| Viavi Solutions | Network test, optical, visibility | Focus on service assurance and monitoring |
| NI (National Instruments, Emerson) | Modular instruments, test systems | Automated test equipment competitor |
No single competitor matches Keysight's full breadth; competition varies by product family and geography. Keysight holds #1 share (~23-27%) in key segments per company estimates. Sources: Company filings, market analyses (e.g., Pestel, Umbrex)
Interpretation: Keysight's integrated software-hardware ecosystem and installed base provide competitive moat, particularly in regulated/high-reliability markets.
Overview: Keysight Technologies, Inc. provides electronic design and test solutions for communications, electronics, and related industries. Operates via two segments: Communications Solutions Group (CSG) and Electronic Industrial Solutions Group (EISG). Helps customers accelerate innovation from simulation to deployment. ~16,500–16,800 employees. HQ: Santa Rosa, CA. Website: keysight.com
History: Origins in 1939 as Hewlett-Packard's electronic measurement business. Part of Agilent Technologies spin-off; Keysight spun out as independent public company in 2014. Sources: Company profile, historical analyses
Overall Data Limitations: All information compiled from publicly available web sources as of August 2026; financials and ratings subject to revision with new filings/earnings. No forward-looking guarantees; consult official SEC filings and professional advisors for investment decisions. Stock performance excludes dividends unless noted as total return.
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