Keysight Technologies, Inc (KEYS) Fair Value & Analysis
Technology · US · Market cap $54.0B
Keysight Technologies, Inc
KEYS · US
Fair value as of: Aug 13, 2026
From 26 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from $84.16 to $107.22 (+27.4%) since Jul 20, 2026. Share price +8.6% over the past month.
A solid business, but screening 70% overvalued on our models.
What matters now
- A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case ($135.64). The favourable scenario is already priced in.
- A fairly wide model range ($72.50 to $135.64) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range $119.31 – $373.34 · fair‑value band $72.50 – $135.64 · the $353.85 price screens above the $107.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Keysight Technologies, Inc (KEYS) currently trades at $353.85, while our model-based Fair Value estimate is $107.22, implying the stock looks roughly 69.7% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Keysight Technologies, Inc generated revenue of $6.1B at a net margin of 17.3%. Revenue grew 31.5% year over year. It earns a return on equity of 18.2%. Net debt stands at $1.1B. Fundamentals as of Aug 13, 2026
Our scenario range runs from $72.50 (bear case) to $135.64 (bull case); at $353.85, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 4% below its 52-week high and 132% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -46% fair-value upside, at -70%, KEYS screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings ($117.41) versus Dividend Discount ($5.02). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 74
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Keysight Technologies, Inc. provides electronic design and test solutions worldwide. The company operates through Communications Solutions Group and Electronic Industrial Solutions Group segments.
Full company description
Keysight Technologies, Inc. provides electronic design and test solutions worldwide. The company operates through Communications Solutions Group and Electronic Industrial Solutions Group segments. It offers electronic design and test software, instrumentation, systems, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of communication systems in wireless, data center ecosystem, enterprise, and aerospace, defense, and government end markets. The company also develops and deploys communications products and services; and operates communications networks. In addition, it provides electronic design, test and simulation software, instrumentation, systems, computer-aided engineering solutions, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of electronic equipment in the automotive and energy, semiconductor solutions, and general electronics industries. Further, the company offers product support; technical and application support for hardware, software, and solutions; and professional services, such as installation, training, engineering, optimization of equipment and solution adoption, utilization, and integration services. Additionally, it provides oscilloscopes; generators, sources and power supplies; software products; analyzers; wireless products; network test and security; modular instruments; meters; network visibility; and other products, as well as KeysightCare support plans, calibration, repair, technology refresh, test as a service, network/security, consulting, financial alternatives, education, software testing, support, managed, device vulnerability analysis, support portal, and used equipment services. Keysight Technologies, Inc. was founded in 1939 and is headquartered in Santa Rosa, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Keysight Technologies, Inc reported revenue of $5.4B in FY2025 versus $4.9B in FY2021, a compound +2.1%/yr. Reported net income was $846M in FY2025, compounding −1.4%/yr from FY2021.
of which total revenue +6.9 pp · buybacks/dilution −0.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
KEYS screens 70% overvalued. Compare with Garmin Ltd →
Peer Group
Scientific & Technical Instruments · 169 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Garmin Ltd GRMN | $309.98 | $139.44 | -55% |
| Teledyne Technologies Incorporated TDY | $686.49 | $488.95 | -29% |
| Hexagon AB HEXAB | kr 95.06 | kr 73.99 | -22% |
| MKS Inc MKSI | $294.38 | $76.00 | -74% |
| AVIC Chengdu Aircraft Company 302132 | ¥57.89 | ¥34.47 | -40% |
| Fortive Corporation FTV | $61.54 | $33.48 | -46% |
| Trimble Inc TRMB | $57.98 | $34.12 | -41% |
| Cognex Corporation CGNX | $60.67 | $19.25 | -68% |
| Wuhan Guide Infrared Co 002414 | ¥13.99 | ¥4.50 | -68% |
| ESCO Technologies Inc ESE | $300.42 | $105.78 | -65% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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