Keysight Technologies Inc (KEYS) Fair Value & Analysis
Technology · US · Market cap $54.0B · ISIN US49338L1035
What is Keysight Technologies Inc really worth?
Keysight Technologies Inc
KEYS · US
A solid business, but trading 201% above our fair value of $107.22.
Strengths
Risks
Fair value as of: Aug 23, 2026
From 26 valuation models · updated 13 days ago
Share price −5.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
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 23, 2026.
How to read this chart
60‑month range $119.31 – $373.34 · fair‑value band $72.50 – $135.64 · the $322.62 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 23, 2026.
Analysis
Keysight Technologies Inc (KEYS) currently trades at $322.62, while our model-based Fair Value estimate is $107.22, implying the stock looks roughly 200.9% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Technology sector. Bull case: the Growth Earnings group reads highest at a median of $117.41 per share, and 0 of the 26 models we run sit above the $322.62 price. Bear case: the Asset-Based group reads lowest at $23.04, and 26 of the 26 models stay below the price. Evidence for this calculation is 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 23, 2026
Our scenario range runs from $72.50 (bear case) to $135.64 (bull case); at $322.62, 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 13% below its 52-week high and 111% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −55% fair-value upside, at −67%, KEYS screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 10 months have passed since. In that time the company retained roughly $5.24 per share, which is 4.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings ($117.41) versus Dividend Discount ($5.02). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 71 · Market factors (momentum, volatility) 64
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
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 % · buybacks/dilution −0.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
KEYS screens 201% overvalued. Compare with Garmin Ltd →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Can Keysight's Solutions Accelerate Advanced IC Development?
- Keysight Technologies Announces Participation in Upcoming Investor Conferences
- Does Keysight’s Raised Outlook and AI Design Wins Change The Bull Case For Keysight Technologies (KEYS)?
- Why Is Keysight Technologies (KEYS) Adding A New Director And Spotlighting EDA Wins?
Peer Group
Scientific & Technical Instruments · 164 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
Strength profile in five axes (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.
Similar stocks
10 more Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Garmin Ltd GRMN | $309.98 | $139.44 | −55% |
| Teledyne Technologies Incorporated TDY | $607.87 | $488.95 | −20% |
| Chroma ATE Inc 2360 | 2,195 TWD | 322.57 TWD | −85% |
| Hexagon AB HEXAB | kr 99.00 | kr 74.09 | −25% |
| MKS Inc MKSI | $281.60 | $76.00 | −73% |
| AVIC Chengdu Aircraft Company 302132 | ¥60.00 | ¥24.39 | −59% |
| Fortive Corporation FTV | $61.54 | $33.48 | −46% |
| Trimble Inc TRMB | $56.99 | $34.12 | −40% |
| Cognex Corporation CGNX | $60.79 | $19.25 | −68% |
| Wuhan Guide Infrared Co 002414 | ¥12.97 | ¥4.50 | −65% |
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