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Keysight Technologies, Inc. (KEYS) Q3 FY2026 Financial Statements: Revenue $1.85B, Net income $397.00M

CIK 0001601046 · NYSE · Latest period: Q3 FY2026 (ended 2026-07-31, 10-Q accession 0001601046-26-000036) · Annual report: FY2025 10-K (filed 2025-12-17, accession 0001601046-25-000127) · Next expected filing: 10-K ~2026-12-16

More for Keysight Technologies: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ3 FY2026

Published

Keysight Technologies reported $1.85 billion in revenue for Q3 FY2026, the quarter ended July 31, 2026, up 36.5% from a year earlier, and net income of $397 million, or $2.30 per diluted share, against $191 million, or $1.10, in the same quarter a year before. The gain came from the business itself: income from operations rose to $461 million from $234 million as revenue grew faster than costs. The Communications Solutions Group, Keysight's larger segment, posted revenue of $1.34 billion, up 43.1%, with growth led by commercial communications customers investing in networking for AI data centers; acquisitions including Spirent Communications contributed part of the company's growth.

MetricAmountvs. year ago
Revenue$1,846,000,000up 36.5%
Net income$397,000,000up 107.9%
Diluted EPS$2.30up 109.1%
Operating income$461,000,000up 97.0%
Communications Solutions Group revenue$1,345,000,000up 43.1%

Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.

About this file

TickerKEYS
CIK0001601046
CompanyKeysight Technologies, Inc.
Business typeindustrial
Schema templatestandard industrial/technology: revenue (products and services), cost of revenue, gross profit, operating expenses, operating income, net income, EPS and share counts; cash, debt, assets, liabilities, equity; operating cash flow, capital expenditures, free cash flow, acquisitions, buybacks; plus revenue and segment income from operations for the two reportable segments (CSG and EISG)
Reporting currencyUSD
Converted to USDno
Unitsactual US dollars (not millions); per-share amounts in US dollars; share counts in actual shares

KEYS annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Period start2024-11-012023-11-012022-11-01
Period end2025-10-312024-10-312023-10-31
Period typefiscal yearfiscal yearfiscal year
Source accession10-K10-K10-K
Source form10-K filed 2025-12-1710-K filed 2025-12-1710-K filed 2025-12-17
Income statement
Total revenue5,375,000,0004,979,000,0005,464,000,000
Product revenue4,063,000,0003,717,000,0004,336,000,000
Services and other revenue1,312,000,0001,262,000,0001,128,000,000
Cost of products1,603,000,0001,452,000,0001,552,000,000
Cost of services and other435,000,000394,000,000380,000,000
Total cost of revenue2,038,000,0001,846,000,0001,932,000,000
Research and development1,007,000,000919,000,000882,000,000
Selling general and administrative1,474,000,0001,395,000,0001,307,000,000
Other operating expense income net-20,000,000-14,000,000-15,000,000
Total costs and expenses4,499,000,0004,146,000,0004,106,000,000
Operating income876,000,000833,000,0001,358,000,000
Interest income102,000,00081,000,000102,000,000
Interest expense-96,000,000-84,000,000-78,000,000
Other income expense net200,000,00035,000,000-25,000,000
Income before taxes1,082,000,000865,000,0001,357,000,000
Provision for income taxes213,000,000251,000,000300,000,000
Net income from continuing operations869,000,000614,000,0001,057,000,000
Net loss from discontinued operations-19,000,00000
Net income850,000,000614,000,0001,057,000,000
Basic EPS4.933.535.95
Diluted EPS continuing operations5.023.515.91
Diluted EPS4.913.515.91
Weighted average basic shares172,000,000174,000,000178,000,000
Weighted average diluted shares173,000,000175,000,000179,000,000
Gross profit3,337,000,0003,133,000,0003,532,000,000
Balance sheet
Cash and cash equivalents1,873,000,0001,796,000,000
Accounts receivable net939,000,000857,000,000
Inventory1,050,000,0001,022,000,000
Total current assets4,348,000,0004,257,000,000
Property plant and equipment net795,000,000774,000,000
Goodwill3,424,000,0002,388,000,000
Other intangible assets net1,304,000,000607,000,000
Total assets11,301,000,0009,269,000,000
Accounts payable355,000,000313,000,000
Deferred revenue current652,000,000561,000,000
Total current liabilities1,850,000,0001,427,000,000
Long term debt2,534,000,0001,790,000,000
Total liabilities5,420,000,0004,164,000,000
Treasury stock at cost-3,799,000,000-3,422,000,000
Retained earnings7,075,000,0006,225,000,000
Total stockholders equity5,881,000,0005,105,000,0004,654,000,000
Total liabilities and equity11,301,000,0009,269,000,000
Total debt2,534,000,0001,790,000,000
Common shares outstanding171,267,000172,584,000174,322,000
Cash flow
Depreciation131,000,000126,000,000120,000,000
Amortization145,000,000144,000,00092,000,000
Share based compensation162,000,000137,000,000135,000,000
Operating cash flow1,409,000,0001,052,000,0001,408,000,000
Capex-128,000,000-154,000,000-197,000,000
Proceeds from government incentives1,000,0007,000,0001,000,000
Acquisitions net of cash acquired-2,022,000,000-681,000,000-85,000,000
Proceeds from divestiture399,000,00000
Investing cash flow-1,727,000,000-819,000,000-288,000,000
Share repurchases-377,000,000-443,000,000-702,000,000
Proceeds from issuance of long term debt748,000,000599,000,0000
Repayment of debt0-624,000,0000
Financing cash flow385,000,000-913,000,000-687,000,000
Cash and restricted cash end of period1,890,000,0001,814,000,0002,488,000,000
Free cash flow1,281,000,000898,000,0001,211,000,000
Segments
Communications solutions group
Revenue3,726,000,0003,420,000,0003,685,000,000
Segment income from operations986,000,000921,000,0001,068,000,000
Electronic industrial solutions group
Revenue1,649,000,0001,559,000,0001,779,000,000
Segment income from operations407,000,000357,000,000581,000,000
Total reportable segments
Revenue5,375,000,0004,979,000,0005,464,000,000
Segment income from operations1,393,000,0001,278,000,0001,649,000,000

KEYS quarterly income statement, balance sheet and cash flow

Q3 FY2026Q3 FY2025
Fiscal quarter33
Period start2026-05-012025-05-01
Period end2026-07-312025-07-31
Period typethree monthsthree months
Source accession10-Q10-Q
Source form10-Q filed 2026-09-0210-Q filed 2026-09-02
Cash flow source accession0001601046-26-0000290001601046-26-000029
Income statement
Product revenue1,464,000,0001,023,000,000
Services and other revenue382,000,000329,000,000
Total revenue1,846,000,0001,352,000,000
Cost of products504,000,000409,000,000
Cost of services and other126,000,000109,000,000
Total cost of revenue630,000,000518,000,000
Research and development312,000,000250,000,000
Selling general and administrative446,000,000354,000,000
Other operating expense income net-3,000,000-4,000,000
Total costs and expenses1,385,000,0001,118,000,000
Operating income461,000,000234,000,000
Interest income20,000,00031,000,000
Interest expense-26,000,000-28,000,000
Other income expense net22,000,0004,000,000
Income before taxes477,000,000241,000,000
Provision for income taxes80,000,00050,000,000
Net income397,000,000191,000,000
Basic EPS2.331.11
Diluted EPS2.31.1
Weighted average basic shares171,000,000172,000,000
Weighted average diluted shares173,000,000173,000,000
Gross profit1,216,000,000834,000,000
Balance sheet
Cash and cash equivalents2,605,000,000
Accounts receivable net1,067,000,000
Inventory1,047,000,000
Total current assets5,286,000,000
Property plant and equipment net735,000,000
Goodwill3,462,000,000
Other intangible assets net1,113,000,000
Total assets11,921,000,000
Current portion of long term debt700,000,000
Accounts payable424,000,000
Deferred revenue current707,000,000
Total current liabilities2,612,000,000
Long term debt1,817,000,000
Total liabilities5,350,000,000
Treasury stock at cost-4,319,000,000
Retained earnings8,102,000,000
Total stockholders equity6,571,000,0005,670,000,000
Total liabilities and equity11,921,000,000
Total debt2,517,000,000
Common shares outstanding170,298,000171,855,000
Cash flow
Operating cash flow437,000,000322,000,000
Capex-34,000,000-31,000,000
Free cash flow403,000,000291,000,000
Segments
Communications solutions group
Revenue1,345,000,000940,000,000
Segment income from operations458,000,000246,000,000
Electronic industrial solutions group
Revenue501,000,000412,000,000
Segment income from operations155,000,00092,000,000
Total reportable segments
Revenue1,846,000,0001,352,000,000
Segment income from operations613,000,000338,000,000
  • Cash flow source form. 8-K filed 2026-08-18, Exhibit 99.1 (third quarter 2026 earnings release)

KEYS year-to-date income statement and cash flow

Nine months FY2026Nine months FY2025
Period start2025-11-012024-11-01
Period end2026-07-312025-07-31
Period typenine monthsnine months
Source accession10-Q10-Q
Source form10-Q filed 2026-09-0210-Q filed 2026-09-02
Income statement
Product revenue4,028,000,0002,994,000,000
Services and other revenue1,135,000,000962,000,000
Total revenue5,163,000,0003,956,000,000
Cost of products1,417,000,0001,170,000,000
Cost of services and other357,000,000318,000,000
Total cost of revenue1,774,000,0001,488,000,000
Research and development935,000,000749,000,000
Selling general and administrative1,349,000,0001,075,000,000
Other operating expense income net-11,000,000-15,000,000
Total costs and expenses4,047,000,0003,297,000,000
Operating income1,116,000,000659,000,000
Interest income54,000,00071,000,000
Interest expense-80,000,000-68,000,000
Other income expense net3,000,00098,000,000
Income before taxes1,093,000,000760,000,000
Provision for income taxes66,000,000143,000,000
Net income1,027,000,000617,000,000
Basic EPS6.003.58
Diluted EPS5.933.56
Weighted average basic shares171,000,000172,000,000
Weighted average diluted shares173,000,000173,000,000
Gross profit3,389,000,0002,468,000,000
Cash flow
Depreciation116,000,00097,000,000
Amortization202,000,000104,000,000
Share based compensation181,000,000129,000,000
Operating cash flow1,379,000,0001,184,000,000
Capex-97,000,000-90,000,000
Acquisitions net of cash acquired-33,000,000-3,000,000
Investing cash flow-135,000,000-97,000,000
Share repurchases-520,000,000-278,000,000
Proceeds from issuance of long term debt0748,000,000
Financing cash flow-515,000,000487,000,000
Cash and restricted cash end of period2,622,000,0003,397,000,000
Free cash flow1,282,000,0001,094,000,000
Segments
Communications solutions group
Revenue3,700,000,0002,736,000,000
Segment income from operations1,178,000,000722,000,000
Electronic industrial solutions group
Revenue1,463,000,0001,220,000,000
Segment income from operations446,000,000298,000,000
Total reportable segments
Revenue5,163,000,0003,956,000,000
Segment income from operations1,624,000,0001,020,000,000

KEYS trailing twelve month income statement and cash flow

Twelve months ended July 31, 2026 (derived)
Period start2025-08-01
Period end2026-07-31
Period typetrailing twelve months
Source accession10-Q
Derived from accessions
Annual0001601046-25-000127
Year to date0001601046-26-000036
Income statement
Product revenue5,097,000,000
Services and other revenue1,485,000,000
Total revenue6,582,000,000
Total cost of revenue2,324,000,000
Gross profit4,258,000,000
Research and development1,193,000,000
Selling general and administrative1,748,000,000
Operating income1,333,000,000
Income before taxes1,415,000,000
Provision for income taxes136,000,000
Net income1,260,000,000
Cash flow
Operating cash flow1,604,000,000
Capex-135,000,000
Free cash flow1,469,000,000
Share repurchases-619,000,000
  • Derivation. FY2025 (10-K, accession 0001601046-25-000127) plus the nine months ended July 31, 2026, less the nine months ended July 31, 2025 (both from the Q3 FY2026 10-Q, accession 0001601046-26-000036). This is a computed roll-forward, not a figure Keysight reports. Per-share amounts are not shown because weighted share counts cannot be combined this way.

Adjustments

Splits appliednone
ADR ration/a
FXNone. Keysight reports in US dollars.
ADRNone. Keysight common stock is listed directly on the New York Stock Exchange; per-share figures are per common share.
SplitsNone. Keysight has no stock split in the periods covered.

Notes

  • Keysight's fiscal year ends October 31; its fiscal quarters end January 31, April 30 and July 31. Q3 FY2026 is the three months ended July 31, 2026.
  • Annual figures (FY2023 to FY2025) come from the FY2025 Form 10-K (accession 0001601046-25-000127). The Q3 FY2026 and Q3 FY2025 quarters, the nine-month periods and the July 31, 2026 balance sheet come from the Q3 FY2026 Form 10-Q (accession 0001601046-26-000036). The 10-Q's October 31, 2025 balance sheet column matches the 10-K and is recorded once, under FY2025.
  • The 10-Q presents cash flows only for the nine months. The three-month operating cash flow, capital expenditure and free cash flow figures for Q3 FY2026 and Q3 FY2025 come from Keysight's third quarter 2026 earnings release, furnished as Exhibit 99.1 to the Form 8-K filed August 18, 2026 (accession 0001601046-26-000029); those periods record that filing under cash_flow_source_accession. The release's nine-month figures ($1,379 million operating cash flow, $97 million capital expenditure) agree with the 10-Q.
  • Gross profit is not printed by Keysight; it is computed here as total revenue less total cost of revenue (cost of products plus cost of services and other, which the 10-K labels 'Total costs' and the 10-Q 'Total cost of sales').
  • Free cash flow is computed as net cash provided by operating activities less investments in property, plant and equipment. Keysight's own free cash flow measure deducts those investments net of proceeds from government incentives, which the 10-K reports as $1 million, $7 million and $1 million for FY2025, FY2024 and FY2023, so Keysight's annual figures are higher by those amounts. For the quarters and nine-month periods no such proceeds are reported, and the figures equal Keysight's own.
  • Total debt is the current portion of long-term debt plus long-term debt; the balance sheets show no other borrowings. At July 31, 2026, $700 million of long-term debt was classified as current. The FY2025 and FY2024 balance sheets in the 10-K show no current portion of debt.
  • Common shares outstanding is shares issued less treasury shares, both taken from the statement of equity (printed in thousands). For FY2023 and Q3 FY2025 these filings print no balance sheet; those periods carry only total stockholders' equity and shares outstanding, from the statement of equity.
  • FY2025 net income of $850 million includes a $19 million net loss from discontinued operations; income from continuing operations was $869 million and diluted EPS from continuing operations was $5.02 (total diluted EPS $4.91). The FY2025 comparative columns in the 10-Q show no discontinued operations, so the loss fell in the fourth quarter of FY2025 and is included in the trailing-twelve-month net income.
  • Signs follow the statements: interest expense, capital expenditures, acquisitions and share repurchases are negative; 'other operating expense (income), net' is negative where it was net income.
  • Weighted average share counts are printed in whole millions, so net income divided by diluted shares matches the reported diluted EPS only approximately. EPS figures are as reported.
  • Segment figures are Keysight's two reportable segments, Communications Solutions Group (CSG) and Electronic Industrial Solutions Group (EISG). Segment income from operations excludes share-based compensation, amortization of acquisition-related balances, acquisition and integration costs, restructuring and other items, so it is higher than GAAP income from operations (Q3 FY2026: $613 million total segment income against $461 million GAAP income from operations).
  • Keysight acquired Spirent Communications plc in the fourth quarter of FY2025 for $1,415 million, net of $127 million cash acquired, and the Optical Solutions Group business of Synopsys, Inc. on October 17, 2025 for $581 million (FY2025 10-K). The 10-Q states that Spirent added $61 million of revenue in Q3 FY2026 and $204 million in the nine months ended July 31, 2026.
  • In the nine months ended July 31, 2026, Keysight recorded a $100 million receivable for refunds of IEEPA tariffs previously paid, with offsets of $93 million to cost of sales, $4 million to selling, general and administrative expense and $3 million to interest income, and reduced revenue by $40 million for surcharge refunds owed to customers.
  • Keysight has not paid dividends (FY2025 10-K), so no dividend figures are shown.
  • No stock split, currency conversion or depositary-share adjustment applies: Keysight reports in US dollars and its common stock trades directly on the New York Stock Exchange.

Uncertainties

  • The three-month cash flow figures for Q3 FY2026 and Q3 FY2025 come from an earnings release table marked preliminary, not from the 10-Q, which prints nine-month cash flows only. The nine-month totals in the release match the 10-Q.
  • Gross profit, free cash flow, total debt, common shares outstanding and every trailing-twelve-month figure are computed from printed lines, as described in the notes, rather than printed by Keysight.

Company details

NameKeysight Technologies, Inc.
TickerKEYS
CIK0001601046
ExchangeNYSE
StateCalifornia
IncorporationDelaware
SIC3823
OfficeIndustrial Applications and Services
IndustryIndustrial Instruments For Measurement, Display, and Control

Fiscal period

Fiscal year2026
Fiscal periodQ3
TagFY26Q3
Period end2026-07-31
Form10-Q
Accession0001601046-26-000036
Fiscal year end1031
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionSource
annualno10-K2025FYFY252025-10-312025-12-170001601046-25-000127reported
quarterlyyes10-Q2026Q3FY26Q32026-07-312026-09-020001601046-26-000036facts

FAQ · Keysight Technologies financial statements

How much revenue did Keysight Technologies report in Q3 FY2026?

Keysight Technologies reported $1.85 billion in revenue for Q3 FY2026, the quarter ended July 31, 2026, up 36.5% from $1.35 billion in the same quarter a year earlier. Acquisitions, including Spirent Communications, accounted for part of the increase.

What were Keysight's net income and earnings per share in Q3 FY2026?

Keysight Technologies earned net income of $397 million, or $2.30 per diluted share, in Q3 FY2026, the quarter ended July 31, 2026. That is up 107.9% from $191 million, or $1.10 per diluted share, a year earlier.

Why did Keysight's earnings rise in Q3 FY2026?

Keysight Technologies' income from operations was $461 million in Q3 FY2026, up 97.0% from $234 million a year earlier, as revenue grew faster than costs and expenses. The improvement in net income came from operations rather than from items below the operating line.

How did Keysight's Communications Solutions Group perform in Q3 FY2026?

Keysight Technologies' Communications Solutions Group reported revenue of $1.34 billion in Q3 FY2026, up 43.1% from $940 million a year earlier. Growth was led by commercial communications, where Keysight cites customer investment in high-speed networking and transceiver manufacturing capacity for AI data centers.

Where can I get Keysight Technologies, Inc. (KEYS) financial data in machine-readable form?

Ticker Scout publishes Keysight Technologies, Inc.'s financial statements as JSON at https://tickerscout.ai/keys/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/keys/narrative.md and https://tickerscout.ai/keys/events.md. Keysight Technologies, Inc.'s SEC CIK is 0001601046. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Keysight Technologies, Inc. (KEYS) next file with the SEC?

Keysight Technologies, Inc. (KEYS) is expected to file its next Form 10-K with the SEC on or around December 16, 2026. That date is a projection rather than a company-announced date: it is derived from Keysight Technologies, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q3 FY2026, the period ended 2026-07-31, SEC accession 0001601046-26-000036.

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How this page was built

This page was built from three of Keysight Technologies, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names two such gaps.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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