---
title: Keysight Technologies (KEYS) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/keys
ticker: KEYS
as_of: 2026-10-17
sector: Technology
industry: Hardware, Equipment & Parts
---
# Keysight Technologies (KEYS)

Keysight Technologies (KEYS) closed at $331.21 on Oct 16, 2026, overvalued by 224% vs its model value of $102.12 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $331.21 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $102.12 |
| Price vs model | overvalued by 224% vs model |
| Range of that model | $68.09 – $204.39 |
| Market value | $56.4B |
| P/E (fiscal 2025) | 67.5 |
| Net margin (fiscal 2025) | 15.7% |
| Free cash flow (fiscal 2025) | $1.3B |
| Dividend yield (trailing twelve months) | 0.00% |
| Beta | 1.18 |
| Cost of capital (WACC) | 9.48% |
| Business classification | Profitable Growth (Revenue declining (~-1% recent), Moderate margins (16% net margin), Highly cyclical earnings) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Best performing this year | #27 | +63.0% | https://sweetvaluelab.com/lists/best-performing-this-year |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $102.12 | $68.09 | $204.39 |
| DCF · Perpetuity growth · 10y | cross check | $119.56 | $80.91 | $234.28 |
| DCF · EBITDA exit · 5y | cross check | $315.18 | $259.31 | $379.96 |
| DCF · EBITDA exit · 10y | cross check | $313.73 | $240.29 | $408.54 |
| P/E · peers | cross check | $327.67 | $276.86 | $418.19 |
| P/E · own history | cross check | $275.96 | $213.83 | $381.91 |
| PEG | sanity check | $261.76 | $261.76 | $261.76 |
| EV/EBITDA · peers | cross check | $241.44 | $228.59 | $308.83 |
| EV/Revenue · peers | cross check | $387.16 | $249.28 | $533.03 |
| Earnings power value | cross check | $36.52 | $31.01 | $44.10 |
| Dividend discount | cross check | $0.00 | $0.00 | $0.00 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 6 open-market sales ($4.1M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 30, 2026 | Dhanasekaran Satish | President and CEO | Open-market sell | 3,000 | $1.1M |
| Sep 23, 2026 | POOLE LISA M. | VP and Controller | Open-market sell | 200 | $69,602 |
| Sep 21, 2026 | Dougherty Neil | EVP and CFO | Open-market sell | 2,000 | $681,570 |
| Sep 4, 2026 | Estrada Ingrid A | SVP | Open-market sell | 2,000 | $652,200 |
| Aug 26, 2026 | Reese Scott | Director | Grant / award | 435 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 2, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1601046/000160104626000036/keys-20260731.htm |
| Aug 26, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1601046/000160104626000032/keys-20260826.htm |
| Aug 18, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1601046/000160104626000029/keys-20260818.htm |
| Jun 4, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1601046/000160104626000024/keys-20260430.htm |
| May 19, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1601046/000160104626000019/keys-20260519.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Loeb | 2026-06-30 | 585,000 | $204.8M |
| John Rogers | 2026-06-30 | 145,711 | $51.0M |
| Francois Rochon | 2026-06-30 | 143,072 | $50.1M |
| Bridgewater | 2026-06-30 | 82,934 | $29.0M |

6 tracked managers in all.

## About

Keysight Technologies, Inc. specializes in providing advanced electronic design and testing solutions to a diverse array of global industries, spanning commercial communications, networking, aerospace, defense, government, automotive, energy, semiconductor manufacturing, general electronics, and education. The company's operations extend across the Americas, Europe, and the Asia Pacific region. Its Communications Solutions Group focuses on electronic design automation (EDA) software and sophisticated radio frequency (RF) and microwave testing systems, along with associated software. This segment also delivers cutting-edge hardware and virtual platforms for network testing, addressing areas such as data centers, routing and switching, software-defined networking (SDN), security, and encryption. Furthermore, it supplies a range of precision measurement instruments including oscilloscopes,…

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Source: https://sweetvaluelab.com/stocks/keys (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.