Keysight Technologies, Inc.


SKU: KEYS Category:


This is our first report on Keysight Technologies, one of the major electronic design and test solutions providers in the world. The company reported robust results, showcasing the resilience of its financial model and the strength of its portfolio. Keysight demonstrated strong financial performance, with third-quarter revenue meeting expectations, while earnings per share set a new high by surpassing the guidance range. Though orders came in at the lower end of expectations, the company observed steady customer spending in research and development, particularly in commercial communications, aerospace, defense, government, and automotive EV solutions. However, there was a softening in orders related to semiconductors and manufacturing, primarily in Asia. The demand environment showed continued investment in strategic R&D programs in commercial communications, aerospace, defense, government, and automotive EV solutions. Furthermore, the company secured strategic wins in the automotive sector, supporting EV battery testing and digital health solutions. In the Electronic Industrial Solutions Group (EISG), revenue grew 14%. In the Communications Solutions Group, revenue declined by 5%, with strong demand in aerospace, defense, and government, while commercial communications faced cautious spending and weaker manufacturing activity. Keysight Technologies is also set to introduce a novel solution for controlling and calibrating phased array antennas. The technology is expected to facilitate satellite designers in the development of active electronically scanned arrays for satellite communications applications, allowing them to assess their designs efficiently during the initial validation stage.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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