Keysight Technologies Inc
KEYS
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+ FollowMarket Cap$58.27B
Close$
Earnings Call Q2 2026
May 19, 2026 - AI Summary
Q2 was record-setting across the board (good): Orders $2.05B (+56% YoY reported; +48% core) and revenue $1.72B (+31% YoY reported; +24% core); EPS $2.87 (or $2.58 ex-tariff items, +52% YoY). Free cash flow: $472M (record) with $501M cash from operations. Gross margin 72.3% reported (adjusted 67.6% excluding tariff items, +300 bps).
Tariff-related accounting impact (bad / one-time): Following a U.S. Supreme Court decision validating certain IEA/Tariff items, the company recorded tariff refund impacts in Q2: $40M revenue reduction and $97M cost/expense reduction. Management also states that excluding these one-time impacts, operating performance was stronger (e.g., EPS and gross margin improved materially).
Guidance: solid sequential profile + raised FY confidence (surprising/positive):
- Q3 FY26 revenue: $1.73B–$1.75B (+29% YoY at midpoint).
- Q3 EPS: $2.43–$2.49 (+43% YoY at midpoint).
- For FY26, Keysight now expects revenue growth in the “high-20s%” range (upward confidence driven by pipeline/visibility from H1 and expectations for stronger H2). They also expect a historically typical sequential revenue increase into Q4.
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$103.40
70.8% downside
Current Fair Value
70.8% downsideOvervalued by 70.8% based on the discounted cash flow analysis.
Share Statistics
| Market cap | $58.27 Billion |
|---|---|
| Enterprise Value | $59.48 Billion |
| Dividend Yield | $- (-) |
| Earnings per Share | $4.9 |
| Beta | 1.21 |
| Outstanding Shares | 173,000,000 |
Return
| Return on Equity | 16.59% |
|---|---|
| Return on Assets | 8.95% |
| Return on Invested Capital | 13.60% |
Valuation & Multiples
| P/E Ratio | 56.08 |
|---|---|
| PEG | 156.66 |
| Price to Sales | 10.11 |
| Price to Book Ratio | 9.83 |
| Enterprise Value to Revenue | 9.77 |
| Enterprise Value to EBIT | 48.12 |
| Enterprise Value to Net Income | 56 |
| Total Debt to Enterprise | 0.06 |
| Debt to Equity | 0.57 |
Revenue Sources
No data
Insider Trades
Last Earnings Call
Report Date
May 19, 2026
EPS Estimate
$2.32
Average shareholder expectationRevenue Estimate
$1.71 B
Average shareholder expectationNext Earnings Call
Expected Date
August 18, 2026
EPS Estimate
$2.48
Average shareholder expectationRevenue Estimate
$1.75 B
Average shareholder expectationInstitutional Put/Call Ratio
Market sentiment based on institutional option activity.
| Put/Call Ratio | 0.0744▼ 159.83% |
|---|---|
| Total Calls | 55,100▼ 89.90% |
| Total Puts | 4,100▼ 99.55% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 26.96%▼ 61.29% |
|---|---|
| Total Invested | $16.16B▼ 62.27% |
| Investors Holding | 684▼ 484.00% |
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...