Keysight Technologies, Inc.

NYSE:KEYS Stock Report

Market Cap: US$56.4b

Keysight Technologies Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow 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.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: KEYS ($325.65) is trading below our estimate of future cash flow value ($365.68)

Significantly Below Future Cash Flow Value: KEYS is trading below future cash flow 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 Ratio43.3x
EarningsUS$1.28b
Market CapUS$56.35b

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 Average41.9x
TDY Teledyne Technologies
28.4x7.83%US$27.6b
ZBRA Zebra Technologies
30.2x15.32%US$16.3b
AEIS Advanced Energy Industries
49.7x43.50%US$11.4b
CGNX Cognex
59.4x19.30%US$10.4b
KEYS Keysight Technologies
43.3x20.44%US$56.4b

Price-To-Earnings vs Peers: KEYS is expensive based on its Price-To-Earnings Ratio (43.3x) compared to the peer average (41.9x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

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

7 CompaniesPrice / EarningsEstimated GrowthMarket Cap
DSWL Deswell Industries
4.6xn/aUS$49.09m
TRCK Track Group
1xn/aUS$21.54m
WETH Wetouch Technology
1.9xn/aUS$15.66m
NEON Neonode
1.8xn/aUS$14.59m
KEYS 43.3xIndustry Avg. 28.6xNo. of Companies11PE020406080100+
7 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KEYS is expensive based on its Price-To-Earnings Ratio (43.3x) compared to the US Electronic industry average (28.6x).

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 Ratio43.3x
Fair PE Ratio34.9x

Price-To-Earnings vs Fair Ratio: KEYS is expensive based on its Price-To-Earnings Ratio (43.3x) compared to the estimated Fair Price-To-Earnings Ratio (34.9x).

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$325.65
US$415.08
+27.46%
6.19%US$452.00US$350.00n/a12
Sep ’27US$319.27
US$415.08
+30.01%
6.19%US$452.00US$350.00n/a12
Aug ’27US$319.08
US$388.33
+21.70%
11.44%US$426.00US$250.00n/a12
Jul ’27US$335.60
US$383.08
+14.15%
11.35%US$426.00US$250.00n/a13
Jun ’27US$330.00
US$383.08
+16.08%
11.35%US$426.00US$250.00n/a13
May ’27US$352.41
US$315.15
-10.57%
12.42%US$384.00US$220.00n/a13
Apr ’27US$289.84
US$305.77
+5.50%
10.06%US$340.00US$220.00n/a13
Mar ’27US$307.33
US$298.62
-2.84%
10.73%US$340.00US$220.00n/a13
Feb ’27US$216.33
US$220.69
+2.02%
6.51%US$243.00US$190.00n/a13
Jan ’27US$203.19
US$219.77
+8.16%
6.26%US$240.00US$190.00n/a13
Dec ’26US$197.54
US$213.38
+8.02%
6.70%US$232.00US$190.00n/a13
Nov ’26US$182.96
US$188.00
+2.75%
6.35%US$200.00US$157.00n/a12
Oct ’26US$173.10
US$188.73
+9.03%
6.47%US$200.00US$157.00n/a11
Sep ’26US$163.43
US$188.73
+15.48%
6.47%US$200.00US$157.00US$319.2711
Aug ’26US$158.68
US$188.00
+18.48%
6.36%US$200.00US$157.00US$319.0812
Jul ’26US$164.47
US$183.44
+11.54%
7.64%US$200.00US$156.78US$335.6013
Jun ’26US$157.04
US$183.44
+16.81%
7.64%US$200.00US$156.78US$330.0013
May ’26US$145.54
US$177.16
+21.73%
9.03%US$200.00US$156.00US$352.4113
Apr ’26US$150.04
US$184.86
+23.20%
8.11%US$200.00US$157.00US$289.8413
Mar ’26US$159.53
US$184.86
+15.87%
8.11%US$200.00US$157.00US$307.3313
Feb ’26US$178.35
US$180.43
+1.16%
8.09%US$200.00US$157.00US$216.3312
Jan ’26US$160.63
US$180.43
+12.32%
8.09%US$200.00US$157.00US$203.1912
Dec ’25US$170.84
US$177.93
+4.15%
7.61%US$200.00US$157.00US$197.5412
Nov ’25US$151.55
US$168.52
+11.20%
6.90%US$185.00US$150.00US$182.9612
Oct ’25US$154.71
US$168.52
+8.92%
6.90%US$185.00US$150.00US$173.1012
Sep ’25US$154.12
US$169.20
+9.78%
6.64%US$185.00US$150.00US$163.4312
US$415.08
Fair Value
21.5% undervalued intrinsic discount
12
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/10 23:01
End of Day Share Price 2026/09/10 00:00
Earnings2026/07/31
Annual Earnings2025/10/31

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.

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 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 Github.

Analyst Sources

Keysight Technologies, Inc. is covered by 18 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
Quinn FredricksonBaird
Robert MasonBaird