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Keysight Technologies Inc KEYS

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Stock XNYS Rating as of
$138.40 +2.51 (1.85%)
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Company Report

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Keysight Has Carved a Wide Moat with a Broad Communications Testing Portfolio

William Kerwin

We think Keysight Technologies is the leader in communications testing and measurement solutions, and offers a vendor-agnostic way to invest in the rapidly growing 5G and high-speed networking markets. In our view, Keysight has the strongest and broadest communications testing capabilities in the market, inclusive of hardware, software, and services. We think a comprehensive portfolio allows Keysight to act as a strategic partner to its customers, enabling new designs and accelerating time to market for network operators, network equipment OEMs, device OEMs, and suppliers.

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Price vs Fair Value

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KEYS is trading at a 56% premium.
Price
$138.40
Fair Value
$898.00
Uncertainty
Medium
1-Star Price
$287.84
5-Star Price
$657.50
Economic Moat
Wnjd
Capital Allocation
Mwmnxhj

Bulls Say, Bears Say

Bulls

We think Keysight’s large research and development budget has created a competitively advantaged portfolio for communications testing that we don’t expect other firms would be able to easily replicate.

Bears

We think Keysight faces an uphill battle to disrupt an automotive testing market which we think is more fragmented and competitive.

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Trading Information

Previous Close Price
$135.89
Day Range
$137.18–138.98
52-Week Range
$118.57–170.60
Bid/Ask
$138.00 / $138.71
Market Cap
$24.16 Bil
Volume/Avg
816,144 / 1.2 Mil

Key Statistics

Price/Earnings (Normalized)
19.17
Price/Sales
4.74
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
2.96%

Company Profile

Keysight Technologies is a leader in the field of testing and measurement, helping electronics OEMs and suppliers alike bring products to market to fit industry standards and specifications. Keysight specializes in the communications market, but also supplies into the government, automotive, industrial, and semiconductor manufacturing markets. Keysight’s solutions include testing tools, analytical software, and services. The firm’s stated objective is to reduce time to market and improve efficiency at its more than 30,000 customers.
Sector
Technology
Industry
Scientific & Technical Instruments
Stock Style Box
Mid Core
Total Number of Employees
15,400
Website
https://www.keysight.com

Competitors

Valuation

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Metric
KEYS
FTV
EMR
Price/Earnings (Normalized)
 19.1719.7722.64
Price/Book Value
 4.922.373.20
Price/Sales
 4.744.104.06
Price/Cash Flow
 18.6417.2420.81
Price/Earnings
KEYS
FTV
EMR

Financial Strength

Metric
KEYS
FTV
EMR
Quick Ratio
 1.240.770.68
Current Ratio
 1.991.231.18
Interest Coverage
 13.248.078.06
Quick Ratio
KEYS
FTV
EMR

Profitability

Metric
KEYS
FTV
EMR
Return on Assets (Normalized)
 14.44%7.67%5.56%
Return on Equity (Normalized)
 26.65%12.41%12.76%
Return on Invested Capital (Normalized)
 18.46%10.20%6.72%
Return on Assets
KEYS
FTV
EMR
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