Explain this page
Arphra AIPlain-English read on Keysight Technologies, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $4.94B | $5.42B | $5.46B | $4.98B | $5.38B | $6.89B | $7.65B | $8.24B | $7.53B |
| Cost of revenue | $1.87B | $1.97B | $1.93B | $1.85B | $2.04B | $2.47B | $2.88B | $3.03B | $2.74B |
| Gross profit | $3.07B | $3.45B | $3.53B | $3.13B | $3.34B | $4.28B | $4.93B | $5.29B | $4.66B |
| Gross margin | +62.11% | +63.65% | +64.64% | +62.92% | +62.08% | +62.05% | +64.46% | +64.23% | +61.94% |
| Operating | |||||||||
| Research & development | $811M | $841M | $882M | $919M | $1.01B | $1.25B | $1.37B | $1.45B | $1.37B |
| Selling, general & administrative | $1.2B | $1.28B | $1.31B | $1.4B | $1.4B | $1.81B | $1.99B | $2.09B | $1.95B |
| Total operating expenses | $1.99B | $2.12B | $2.17B | $2.3B | $2.39B | $2.97B | $3.42B | $3.53B | $3.36B |
| Operating income | $1.08B | $1.33B | $1.36B | $833M | $948M | $1.32B | $1.5B | $1.66B | $1.52B |
| Operating margin | +21.86% | +24.61% | +24.85% | +16.73% | +17.64% | +19.19% | +19.64% | +20.11% | +20.24% |
| EBITDA | $1.38B | $1.59B | $1.65B | $1.22B | $1.43B | $1.87B | $2.07B | $2.23B | $2.08B |
| EBIT | $1.09B | $1.36B | $1.44B | $949M | $1.15B | $1.5B | $1.74B | $1.88B | $1.7B |
| Below the line | |||||||||
| Interest expense | $79M | $79M | $78M | $84M | $96M | $111.97M | $124.48M | $131.97M | $120.91M |
| Interest income | $3M | $16M | $102M | $81M | $102M | $123.49M | $134.18M | $146.1M | $133.15M |
| Other income / expense | -$70M | -$49M | -$1M | $32M | $134M | — | — | — | — |
| Pre-tax income | $1.01B | $1.29B | $1.36B | $865M | $1.08B | $1.44B | $1.61B | $1.72B | $1.55B |
| Income tax expense | $116M | $161M | $300M | $251M | $213M | $347.63M | $381.34M | $393.21M | $378.92M |
| Earnings | |||||||||
| Net income | $894M | $1.12B | $1.06B | $614M | $846M | $1.09B | $1.2B | $1.32B | $1.16B |
| Net income · continuing ops | $894M | $1.12B | $1.06B | $614M | $869M | $1.09B | $1.25B | $1.35B | $1.2B |
| Net margin | +18.09% | +20.74% | +19.34% | +12.33% | +15.74% | +15.75% | +15.68% | +15.97% | +15.46% |
| EPS · basic | $4.83 | $6.24 | $5.94 | $3.53 | $4.90 | $10.20 | $12.01 | $13.33 | $11.29 |
| EPS · diluted | $4.78 | $6.18 | $5.91 | $3.51 | $4.88 | $10.18 | $11.80 | $13.10 | $11.18 |
| EPS · low estimate | — | — | — | — | — | $9.59 | $11.07 | $12.58 | $10.93 |
| EPS · high estimate | — | — | — | — | — | $11.16 | $12.17 | $13.62 | $11.48 |
| Shares · basic | 185M | 180M | 178M | 174M | 173M | 173.16M | 174.34M | 174.3M | 173.05M |
| Shares · diluted | 187M | 182M | 179M | 175M | 173M | 171.62M | 172.81M | 173.15M | 171.9M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 9 | 9 | 4 |
| Analysts (EPS) | — | — | — | — | — | 7 | 7 | 2 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro