Keysight Technologies, Inc.

KEYS 10-K · FY 2025

KEYS FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 5,375 4,979 +8.0%
Show Product Lines breakouts
Product 4,063 3,717 +9.3%
Service Other 1,312 1,262 +4.0%
Show Business Segments breakouts
CSG 3,726 3,420 +8.9%
CSG · Aerospace, Defense & Government 1,238 1,149 +7.7%
CSG · Americas 1,799 1,657 +8.6%
CSG · Asia Pacific 1,390 1,245 +11.6%
CSG · Commercial Communications 2,488 2,271 +9.6%
CSG · Europe 537 518 +3.7%
CSG · Transferred At Point In Time 2,966 2,683 +10.5%
CSG · Transferred Over Time 760 737 +3.1%
EISG 1,649 1,559 +5.8%
EISG · Americas 408 398 +2.5%
EISG · Asia Pacific 822 745 +10.3%
EISG · Electronic Industrial 1,649 1,559 +5.8%
EISG · Europe 419 416 +0.7%
EISG · Transferred At Point In Time 1,371 1,273 +7.7%
EISG · Transferred Over Time 278 286 -2.8%
Show Geography breakouts
Americas 2,207 2,055 +7.4%
Asia Pacific 2,212 1,990 +11.2%
Europe 956 934 +2.4%
Show End-markets [Axis] breakouts
Aerospace, Defense & Government 1,238 1,149 +7.7%
Commercial Communications 2,488 2,271 +9.6%
Electronic Industrial 1,649 1,559 +5.8%
Show Timing Of Transfer Of Good Or Service breakouts
Transferred At Point In Time 4,337 3,956 +9.6%
Transferred Over Time 1,038 1,023 +1.5%
Cost of Revenue 2,038 1,846 +10.4%
Show Product Lines breakouts
Product 1,603 1,452 +10.4%
Service Other 435 394 +10.4%
Show Business Segments breakouts
CSG · Operating Segments 1,235 1,107 +11.6%
EISG · Operating Segments 667 626 +6.5%
Total Segments [Member] · Operating Segments 1,901 1,733 +9.7%
Total Costs & Expenses 4,499 4,146 +8.5%
Research & Development 1,007 919 +9.6%
Show Business Segments breakouts
CSG · Operating Segments 697 618 +12.8%
EISG · Operating Segments 258 253 +2.0%
Total Segments [Member] · Operating Segments 954 871 +9.5%
Selling, General & Administrative 1,474 1,395 +5.7%
Show Business Segments breakouts
CSG · Operating Segments 822 784 +4.8%
EISG · Operating Segments 325 327 -0.6%
Total Segments [Member] · Operating Segments 1,147 1,111 +3.2%
Operating Income 876 833 +5.2%
Show Business Segments breakouts
CSG · Operating Segments 986 921 +7.1%
EISG · Operating Segments 407 357 +14.0%
Total Segments [Member] 1,393 1,278 +9.0%
Total Segments [Member] · Operating Segments 1,393 1,278 +9.0%
Interest Expense -96 -84 -14.3%
Interest Income 102 81 +25.9%
Other Non-Operating Income (Expense) 200 35 +471.4%
Income Before Taxes 1,082 865 +25.1%
Income Tax Expense (Benefit) 213 251 -15.1%
Net Income 850 614 +38.4%
Show Equity Components breakouts
Retained Earnings 850 614 +38.4%
Comprehensive Income 966 716 +34.9%
EPS (Basic) 4.93 3.53 +39.7%
EPS (Diluted) 4.91 3.51 +39.9%
Wtd Avg Shares (Basic) 172 174 -1.1%
Wtd Avg Shares (Diluted) 173 175 -1.1%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 5 7 -28.6%
Operating Lease Lease Income 10 10 0.0%
Revenue From Contract With Customer Including Assessed Tax 5,375 4,979 +8.0%
Show Business Segments breakouts
CSG · Operating Segments 3,726 3,420 +8.9%
EISG · Operating Segments 1,649 1,559 +5.8%
Total Segments [Member] · Operating Segments 5,375 4,979 +8.0%
Show Geography breakouts
CN 938 884 +6.1%
Rest of the World [Member] 2,568 2,326 +10.4%
US 1,869 1,769 +5.7%
Interest Expense -96 -84 -14.3%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 1,873 1,796 +4.3%
Accounts Receivable 939 857 +9.6%
Inventory 1,050 1,022 +2.7%
Prepaid Expenses & Other Current Assets 486 582 -16.5%
Total Current Assets 4,348 4,257 +2.1%
Non-Current Assets
Property, Plant & Equipment 795 774 +2.7%
Operating Lease Right-of-Use Assets 236 234 +0.9%
Goodwill 3,424 2,388 +43.4%
Show Business Segments breakouts
CSG 1,967 1,240 +58.6%
EISG 1,457 1,148 +26.9%
Intangible Assets 1,287 562 +129.0%
Deferred Tax Assets 373 378 -1.3%
Other Non-Current Assets 610 521 +17.1%
Total Assets 11,301 9,269 +21.9%
Show Business Segments breakouts
CSG · Operating Segments 6,144 4,721 +30.1%
EISG · Operating Segments 3,524 2,952 +19.4%
Total Segments [Member] 9,668 7,673 +26.0%
Long Term Investments 211 110 +91.8%
Current Liabilities
Accounts Payable 355 313 +13.4%
Deferred Revenue 652 561 +16.2%
Total Current Liabilities 1,850 1,427 +29.6%
Non-Current Liabilities
Long-Term Debt 2,534 1,790 +41.6%
Long-Term Debt 2,534 1,790 +41.6%
Operating Lease Liabilities 193 197 -2.0%
Other Non-Current Liabilities 536 463 +15.8%
Total Liabilities 5,420 4,164 +30.2%
Stockholders' Equity
Common Stock 2 2 0.0%
Additional Paid-In Capital 2,851 2,664 +7.0%
Retained Earnings 7,075 6,225 +13.7%
Accumulated Other Comprehensive Income -248 -364 +31.9%
Total Stockholders' Equity 5,881 5,105 +15.2%
Total Liabilities & Equity 11,301 9,269 +21.9%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Stock-Based Compensation 162 137 +18.2%
Deferred Income Taxes -116 268 -143.3%
Other Non-Cash Items 6 7 -14.3%
Change in Accounts Receivable 23 71 -67.6%
Change in Inventory -24 -49 +51.0%
Change in Accounts Payable 26 26 0.0%
Change in Deferred Revenue 549
Net Cash from Operations 1,409 1,052 +33.9%
Investing Activities
Capital Expenditures -128 -154 +16.9%
Other Investing Activities -7 -2 -250.0%
Net Cash from Investing -1,727 -819 -110.9%
Financing Activities
Share Repurchases 375 439 -14.6%
Tax Withholding for Share Compensation -39 -31 -25.8%
Debt Issuance Costs -8 -12 +33.3%
Net Cash from Financing 385 -913 +142.2%
Supplemental
Income Taxes Paid 120 146 -17.8%
Interest Paid 77 75 +2.7%
Unpaid Capital Expenditures 21 19 +10.5%
Other Cash Flow
Net Change in Cash 76 -674 +111.3%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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