Keysight Technologies, Inc. (KEYS) Income Statement
KEYS FY2025 at a glance
Fiscal year ended October 31, 2025 · U.S. dollarsKEYS revenue and net income
Where KEYS's revenue goes
FY2025Each bar shows an amount and its share of revenue. KEYS kept 15.7% of revenue as net income.
KEYS profit margins
KEYS growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.0% | −0.3% | +5.0% | +6.5% |
| Gross profit | +6.5% | −1.1% | +5.7% | +7.7% |
| Operating income | +13.8% | −5.5% | +4.4% | +8.2% |
| Net income | +37.8% | −9.0% | +6.2% | +5.1% |
| EPS (diluted) | +14.2% | −2.1% | +8.1% | +11.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KEYS quarterly EPS vs estimates
Keysight beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 23, 2026 (estimate $3.09).
KEYS income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.38B | $4.98B | $5.46B | $5.42B | $4.94B | $4.22B | $4.30B | $3.88B | $3.19B | $2.92B |
| Cost of revenue | $2.04B | $1.85B | $1.93B | $1.97B | $1.87B | $1.69B | $1.77B | $1.77B | $1.49B | $1.29B |
| Gross profit | $3.34B | $3.13B | $3.53B | $3.45B | $3.07B | $2.53B | $2.53B | $2.11B | $1.70B | $1.62B |
| Research & development | $1.01B | $919.0M | $882.0M | $841.0M | $811.0M | $715.0M | $688.0M | $624.0M | $507.0M | $425.0M |
| Sales, general & admin | $1.47B | $1.40B | $1.31B | $1.28B | $1.20B | $1.10B | $1.16B | $1.19B | $1.05B | $818.0M |
| Total operating expenses | $2.39B | $2.30B | $2.17B | $1.12B | $1.99B | $1.77B | $1.82B | $2.50B | $1.55B | $1.22B |
| Operating income | $948.0M | $833.0M | $1.36B | $1.12B | $1.08B | $765.0M | $711.0M | −$394.0M | $148.0M | $406.0M |
| Interest income | $102.0M | $81.0M | $102.0M | $16.0M | $3.0M | $11.0M | $23.0M | $12.0M | $7.0M | $3.0M |
| Interest expense | $96.0M | $84.0M | $78.0M | $79.0M | $79.0M | $78.0M | $80.0M | $83.0M | $80.0M | $47.0M |
| Income before taxes | $1.08B | $865.0M | $1.36B | $1.12B | $1.01B | $761.0M | $715.0M | −$411.0M | $179.0M | $366.0M |
| Income taxes | $213.0M | $251.0M | $300.0M | $161.0M | $116.0M | $134.0M | $94.0M | −$576.0M | $77.0M | $31.0M |
| Net income | $846.0M | $614.0M | $1.06B | $1.12B | $894.0M | $627.0M | $621.0M | $165.0M | $102.0M | $335.0M |
| EBITDA | $1.43B | $1.22B | $1.65B | $1.38B | $1.38B | $1.17B | $1.10B | −$18.0M | $484.0M | $547.0M |
| EPS (diluted) | $7.15 | $6.26 | $8.32 | $7.63 | $6.23 | $4.85 | $4.73 | $3.24 | $2.53 | $2.43 |
| Gross margin | 62.1% | 62.9% | 64.6% | 63.7% | 62.1% | 60.0% | 58.9% | 54.4% | 53.2% | 55.7% |
| Operating margin | 17.6% | 16.7% | 24.9% | 20.7% | 21.9% | 18.1% | 16.5% | −10.2% | 4.6% | 13.9% |
| Net margin | 15.7% | 12.3% | 19.3% | 20.7% | 18.1% | 14.9% | 14.4% | 4.3% | 3.2% | 11.5% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.85B | $1.72B | $1.60B | $1.42B | $1.35B | $1.31B | $1.30B | $1.29B | $1.22B | $1.22B | $1.26B | $1.31B |
| Cost of revenue | $630.0M | $539.0M | $605.0M | $550.0M | $518.0M | $492.0M | $478.0M | $485.0M | $462.0M | $453.0M | $446.0M | $467.0M |
| Gross profit | $1.22B | $1.18B | $995.0M | $869.0M | $834.0M | $814.0M | $820.0M | $802.0M | $755.0M | $763.0M | $813.0M | $844.0M |
| Research & development | $312.0M | $320.0M | $303.0M | $258.0M | $250.0M | $250.0M | $249.0M | $233.0M | $226.0M | $228.0M | $232.0M | $218.0M |
| Sales, general & admin | $446.0M | $456.0M | $447.0M | $399.0M | $354.0M | $360.0M | $361.0M | $343.0M | $329.0M | $361.0M | $362.0M | $319.0M |
| Total operating expenses | $755.0M | $771.0M | $747.0M | $652.0M | $600.0M | $607.0M | $602.0M | $572.0M | $550.0M | $586.0M | $592.0M | $527.0M |
| Operating income | $461.0M | $407.0M | $248.0M | $217.0M | $234.0M | $207.0M | $218.0M | $230.0M | $205.0M | $177.0M | $221.0M | $317.0M |
| Interest income | $20.0M | $18.0M | $16.0M | $31.0M | $31.0M | $21.0M | $19.0M | $21.0M | $19.0M | $18.0M | $23.0M | $32.0M |
| Interest expense | $26.0M | $25.0M | $29.0M | $28.0M | $28.0M | $20.0M | $20.0M | $23.0M | $21.0M | $20.0M | $20.0M | $20.0M |
| Income before taxes | $477.0M | $418.0M | $198.0M | $322.0M | $241.0M | $320.0M | $199.0M | $248.0M | $213.0M | $175.0M | $229.0M | $276.0M |
| Income taxes | $80.0M | $69.0M | −$83.0M | $70.0M | $50.0M | $63.0M | $30.0M | $321.0M | −$176.0M | $49.0M | $57.0M | $50.0M |
| Net income | $397.0M | $349.0M | $281.0M | $229.0M | $191.0M | $257.0M | $169.0M | −$73.0M | $389.0M | $126.0M | $172.0M | $226.0M |
| EBITDA | $609.0M | $443.0M | $265.0M | $397.0M | $335.0M | $408.0M | $285.0M | $339.0M | $298.0M | $265.0M | $317.0M | $346.0M |
| EPS (diluted) | $2.82 | $2.87 | $2.17 | $1.91 | $1.72 | $1.70 | $1.82 | $1.65 | $1.57 | $1.41 | $1.63 | $1.99 |
| Gross margin | 65.9% | 68.6% | 62.2% | 61.2% | 61.7% | 62.3% | 63.2% | 62.3% | 62.0% | 62.7% | 64.6% | 64.4% |
| Operating margin | 25.0% | 23.7% | 15.5% | 15.3% | 17.3% | 15.8% | 16.8% | 17.9% | 16.8% | 14.6% | 17.6% | 24.2% |
| Net margin | 21.5% | 20.3% | 17.6% | 16.1% | 14.1% | 19.7% | 13.0% | −5.7% | 32.0% | 10.4% | 13.7% | 17.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KEYS's financial statements (latest annual report filed December 17, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KEYS financial results
In fiscal year 2025 (ended October 31, 2025), Keysight reported revenue of $5.4 billion, up 8.0% from the year before. It had net income of $846.0 million (up 37.8%), a net profit margin of 15.7%. Diluted earnings per share came to $7.15. Over five years revenue grew at an average rate of 5.0% a year.
See the KEYS stock overview for the latest quote and news, or the KEYS chart for price history and technical indicators.
KEYS income statement FAQ
What is Keysight's annual revenue?
Keysight reported total revenue of $5.4 billion for fiscal year 2025, which ended on October 31, 2025. That was up 8.0% from $5.0 billion the previous year.
Is Keysight profitable?
Yes. Keysight reported net income of $846.0 million in fiscal 2025, a net profit margin of 15.7%; its operating margin was 17.6%.
What is Keysight's gross margin?
Keysight's gross margin was 62.1% in fiscal 2025: for every $100 of revenue, Keysight kept $62 after the direct cost of its products and services.
How much does Keysight spend on research and development?
Keysight spent $1.0 billion on research and development in fiscal 2025, 18.7% of revenue.
How fast is Keysight growing?
Revenue grew 5.0% a year on average over the last five fiscal years, from $4.2 billion to $5.4 billion.
What are Keysight's earnings per share?
Keysight earned $7.15 per diluted share in fiscal 2025, compared with $6.26 a year earlier.
When will Keysight report its next earnings?
Keysight is expected to report results for the quarter ending October 31, 2026 on November 23, 2026.
When does Keysight's fiscal year end?
Keysight's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on December 17, 2025.