Keysight Technologies, Inc.

WBAG:KEYS Stock Report

Market Cap: €28.2b

Keysight Technologies Valuation

Is KEYS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KEYS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KEYS (€162.82) is trading above our estimate of fair value (€152.61)

Significantly Below Fair Value: KEYS is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KEYS?

Key metric: As KEYS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KEYS. This is calculated by dividing KEYS's market cap by their current earnings.
What is KEYS's PE Ratio?
PE Ratio47.9x
EarningsUS$614.00m
Market CapUS$29.39b

Price to Earnings Ratio vs Peers

How does KEYS's PE Ratio compare to its peers?

The above table shows the PE ratio for KEYS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.4x
002415 Hangzhou Hikvision Digital Technology
20.4x18.0%CN¥273.2b
TDY Teledyne Technologies
23.9x0.5%US$22.5b
HEXA B Hexagon
21.3x11.4%SEK 246.6b
TRMB Trimble
12x-55.2%US$17.7b
KEYS Keysight Technologies
47.9x15.5%€29.4b

Price-To-Earnings vs Peers: KEYS is expensive based on its Price-To-Earnings Ratio (47.9x) compared to the peer average (19.5x).

Price to Earnings Ratio vs Industry

How does KEYS's PE Ratio compare vs other companies in the European Electronic Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KEYS 47.9xIndustry Avg. 17.8xNo. of Companies18PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KEYS is expensive based on its Price-To-Earnings Ratio (47.9x) compared to the European Electronic industry average (17.8x).

Price to Earnings Ratio vs Fair Ratio

What is KEYS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KEYS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio47.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate KEYS's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KEYS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€162.82
€168.03
+3.2%
7.2%€189.76€148.96n/a12
Nov ’25€140.02
€154.55
+10.4%
6.9%€169.66€137.57n/a12
Oct ’25€140.28
€152.63
+8.8%
6.9%€167.55€135.86n/a12
Sep ’25€138.56
€151.18
+9.1%
6.6%€165.30€134.03n/a12
Aug ’25€124.08
€152.51
+22.9%
7.5%€179.71€138.24n/a11
Jul ’25€126.22
€151.31
+19.9%
7.6%€179.32€137.94n/a10
Jun ’25€126.46
€152.19
+20.3%
7.8%€179.54€138.11n/a10
May ’25€139.36
€153.12
+9.9%
11.1%€195.25€126.72n/a11
Apr ’25€145.84
€153.18
+5.0%
10.9%€193.65€125.69n/a12
Mar ’25€143.46
€152.31
+6.2%
10.0%€192.44€124.90n/a15
Feb ’25€140.42
€152.37
+8.5%
10.9%€191.61€123.44n/a15
Jan ’25€144.18
€148.36
+2.9%
10.4%€191.19€123.17n/a15
Dec ’24€126.02
€148.30
+17.7%
10.8%€191.26€123.21n/a14
Nov ’24€113.92
€157.81
+38.5%
10.7%€196.81€134.36€140.0214
Oct ’24€126.72
€159.86
+26.2%
11.7%€194.00€132.44€140.2815
Sep ’24€123.74
€157.49
+27.3%
12.3%€192.46€131.39€138.5615
Aug ’24€147.34
€168.86
+14.6%
7.7%€196.42€145.53€124.0815
Jul ’24€154.48
€172.41
+11.6%
7.1%€190.61€149.37€126.2214
Jun ’24€150.92
€173.30
+14.8%
7.2%€192.52€150.87€126.4613
May ’24€127.92
€172.39
+34.8%
5.8%€188.34€158.46€139.3613
Apr ’24€147.94
€178.95
+21.0%
6.7%€203.00€162.96€145.8412
Mar ’24€147.50
€183.53
+24.4%
7.9%€212.27€165.10€143.4613
Feb ’24€163.30
€184.11
+12.7%
6.9%€209.14€167.31€140.4213
Jan ’24€160.16
€183.96
+14.9%
7.5%€210.60€163.80€144.1813
Dec ’23n/a
€188.26
0%
8.5%€217.91€164.65€126.0213
Nov ’23n/a
€200.85
0%
9.3%€231.75€177.16€113.9212

Analyst Forecast: Target price is less than 20% higher than the current share price.

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