Keysight Technologies Inc
KEYS
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+ FollowMarket Cap$65.39B
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Earnings Call Q3 2026
August 18, 2026 - AI Summary
Record Q3 performance + big upside in guidance (good/surprising):
- Keysight delivered record results with Orders +56% to $2.091B, Revenue +36% to $1.846B, and EPS +79% to $3.07 (all YoY, with FX/acquisitions called out).
- Margins expanded materially: Gross margin 69%; Operating margin 33.2% (+820 bps YoY)—above the company’s long-term 31%–32% target range.
- Cash flow strong: FCF $403M in the quarter; company is “on track” for record operating cash flow in FY26.
Q4 and FY26 outlook raised (forecast/expectations):
- Q4 revenue forecast: $1.930B–$1.950B (~+37% YoY at midpoint).
- Q4 EPS forecast: $3.34–$3.40 (~+76% YoY at midpoint).
- Implied full-year outlook: FY26 revenue +32% and EPS ~+60% (midpoint).
- Guidance is based on weighted diluted share count ~172M (important for EPS math).
Demand sustainability narrative + pipeline strength (opportunity/expectations):
- Management’s base case: Q4 orders slightly up from Q3 (typical seasonality), and Q1 ’27 follows seasonal trend.
- Sales pipeline hit an all-time high; company claims strong funnel intake and continued customer wins.
- Growth drivers include: AI infrastructure scaling, advanced semiconductors, defense modernization, and next-gen communications—with wireline strength particularly notable.
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$94.22
72.5% downside
Current Fair Value
72.5% downsideOvervalued by 72.5% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $65.39 Billion |
|---|---|
| Enterprise Value | $66.40 Billion |
| Dividend Yield | $- (-) |
| Earnings per Share | $4.9 |
| Beta | 1.18 |
| Outstanding Shares | 173,000,000 |
Return
| Return on Equity | 19.11% |
|---|---|
| Return on Assets | 10.54% |
| Return on Invested Capital | 15.79% |
Valuation & Multiples
| P/E Ratio | 52.7 |
|---|---|
| PEG | 48.86 |
| Price to Sales | 9.0 |
| Price to Book Ratio | 9.24 |
| Enterprise Value to Revenue | 10.09 |
| Enterprise Value to EBIT | 45.17 |
| Enterprise Value to Net Income | 52 |
| Total Debt to Enterprise | 0.05 |
| Debt to Equity | 0.55 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
August 18, 2026
EPS Estimate
$2.48
Average shareholder expectationRevenue Estimate
$1.75 B
Average shareholder expectationNext Earnings Call
Expected Date
November 23, 2026
EPS Estimate
$3.36
Average shareholder expectationRevenue Estimate
$1.95 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0000▼ 99.33% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | -▼ 100.00% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 0.39%▼ 89.52% |
|---|---|
| Total Invested | $247.50M▼ 99.54% |
| Investors Holding | 44▼ 1256.00% |
ESG Score
No data
About Keysight Technologies Inc
14,000 employeesKeysight Technologies, Inc. (NYSE: KEYS) is a leading technology company that helps enterprises, service providers and governments accelerate innovation to connect and secure the world. Keysight's solutions optimize networks and bring el...