Keysight Technologies, Inc.

NYSE:KEYS Stock Report

Market Cap: US$29.5b

Keysight Technologies Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • 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 ($166.3) is trading below our estimate of fair value ($180.08)

Significantly Below Fair Value: KEYS is trading below fair value, but not by a significant amount.

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 Ratio46.7x
EarningsUS$614.00m
Market CapUS$29.49b

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 Average33.3x
TDY Teledyne Technologies
23.2x0.5%US$22.2b
TRMB Trimble
12.1x-53.2%US$18.1b
ZBRA Zebra Technologies
53.3x20.7%US$21.0b
NATI National Instruments
44.4x12.7%US$8.0b
KEYS Keysight Technologies
46.7x15.3%US$29.5b

Price-To-Earnings vs Peers: KEYS is expensive based on its Price-To-Earnings Ratio (46.7x) compared to the peer average (29.5x).

Price to Earnings Ratio vs Industry

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

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SHMD SCHMID Group
3.4xn/aUS$140.53m
DSWL Deswell Industries
3.7xn/aUS$38.56m
SGE Strong Global Entertainment
3.8xn/aUS$12.27m
SMX SMX (Security Matters)
0.6xn/aUS$876.13k
KEYS 46.7xIndustry Avg. 26.4xNo. of Companies9PE01632486480+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KEYS is expensive based on its Price-To-Earnings Ratio (46.7x) compared to the US Electronic industry average (26.4x).

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 Ratio46.7x
Fair PE Ratio27.8x

Price-To-Earnings vs Fair Ratio: KEYS is expensive based on its Price-To-Earnings Ratio (46.7x) compared to the estimated Fair Price-To-Earnings Ratio (27.8x).

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
CurrentUS$166.30
US$180.43
+8.5%
8.1%US$200.00US$157.00n/a12
Dec ’25US$170.84
US$177.93
+4.2%
7.6%US$200.00US$157.00n/a12
Nov ’25US$151.55
US$168.52
+11.2%
6.9%US$185.00US$150.00n/a12
Oct ’25US$154.71
US$168.52
+8.9%
6.9%US$185.00US$150.00n/a12
Sep ’25US$154.12
US$169.20
+9.8%
6.6%US$185.00US$150.00n/a12
Aug ’25US$132.53
US$165.49
+24.9%
7.5%US$195.00US$150.00n/a11
Jul ’25US$134.93
US$164.54
+21.9%
7.6%US$195.00US$150.00n/a10
Jun ’25US$138.48
US$165.30
+19.4%
7.8%US$195.00US$150.00n/a10
May ’25US$144.95
US$163.12
+12.5%
11.1%US$208.00US$135.00n/a11
Apr ’25US$155.00
US$164.53
+6.1%
10.9%US$208.00US$135.00n/a12
Mar ’25US$157.07
US$164.62
+4.8%
10.0%US$208.00US$135.00n/a15
Feb ’25US$154.52
US$165.40
+7.0%
10.9%US$208.00US$134.00n/a15
Jan ’25US$159.09
US$161.40
+1.5%
10.4%US$208.00US$134.00n/a15
Dec ’24US$137.88
US$161.29
+17.0%
10.8%US$208.00US$134.00US$170.8414
Nov ’24US$120.80
US$166.79
+38.1%
10.7%US$208.00US$142.00US$151.5514
Oct ’24US$132.31
US$171.40
+29.5%
11.7%US$208.00US$142.00US$154.7115
Sep ’24US$133.88
US$170.20
+27.1%
12.3%US$208.00US$142.00US$154.1215
Aug ’24US$161.07
US$189.13
+17.4%
7.7%US$220.00US$163.00US$132.5315
Jul ’24US$167.45
US$188.14
+12.4%
7.1%US$208.00US$163.00US$134.9314
Jun ’24US$163.14
US$187.23
+14.8%
7.2%US$208.00US$163.00US$138.4813
May ’24US$144.54
US$190.38
+31.7%
5.8%US$208.00US$175.00US$144.9513
Apr ’24US$161.48
US$192.17
+19.0%
6.7%US$218.00US$175.00US$155.0012
Mar ’24US$157.12
US$194.54
+23.8%
7.9%US$225.00US$175.00US$157.0713
Feb ’24US$179.49
US$198.08
+10.4%
6.9%US$225.00US$180.00US$154.5213
Jan ’24US$171.07
US$196.54
+14.9%
7.5%US$225.00US$175.00US$159.0913
Dec ’23US$181.48
US$194.38
+7.1%
8.5%US$225.00US$170.00US$137.8813

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/17 00:50
End of Day Share Price 2024/12/17 00:00
Earnings2024/10/31
Annual Earnings2024/10/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Keysight Technologies, Inc. is covered by 20 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrew Charles BealeArete Research Services LLP
Robert MasonBaird
Ishan MajumdarBaptista Research