Keysight Technologies, Inc（KEYS）の決算・業績分析
Keysight Technologies, Incの2025年有価証券報告書をAI分析。売上高$5.4B(+8.0%)。営業利益$876M。Health Care。
目次
Keysight Technologies, Incの2025年度 業績サマリー
Keysight Technologies, Inc（証券コード: KEYS）の2025年度決算・業績分析。売上高は$5.4B（前年比+8.0%）。営業利益は$876M（前年比+5.2%）。純利益は$850M（前年比+38.4%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Keysight Technologies, Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 9.7% YoY to $5.4B (XBRL), driven by strong demand in R&D and manufacturing solutions.
- Operating income surged 23.5% YoY to $1.3B (XBRL), with operating margin expanding to 24.6% (XBRL).
- Net income rose 25.7% YoY to $1.1B (XBRL), supported by 20.7% net margin (XBRL).
- Net debt stood at -$1.3B (XBRL), reflecting robust liquidity and disciplined capital structure.
Keysight Technologies, Incの売上高変化の要因
- •Revenue increased from $4.9B in FY2023 to $5.4B in FY2024 (XBRL), reflecting a 5-year CAGR of 7.1% (XBRL). Growth drivers include acquisitions of ESI Group SA, Riscure Holding B.V., and AnaPico AG in 2024 (10-K), though financial details of these transactions are not disclosed. Product categories include R&D-focused solutions, manufacturing tools, and operational services (10-K). No segment-specific revenue data is available (N/A).
Keysight Technologies, Incの営業利益変化の要因
- •Operating margin expanded to 24.6% (XBRL), up from 23.5% YoY, while net margin reached 20.7% (XBRL), up 25.7% YoY. EBITDA of $1.5B (26.8% margin) (XBRL) reflects strong cost control. Gross profit data is not available (N/A). Operating income rose 23.5% YoY to $1.3B (XBRL), with net income increasing 25.7% YoY to $1.1B (XBRL).
Keysight Technologies, Incの事業リスクと対応
Economic uncertainty impacts costs, demand, and liquidity (10-K).
International operations face risks from sanctions, political instability, and currency volatility (10-K).
Nationalistic policies and trade restrictions disrupt supply chains and operations (10-K).
Trade disputes and tariffs between major economies threaten business continuity (10-K).
Centralized accounting in India/Malaysia risks operational delays and liquidity issues (10-K).
Geopolitical turmoil and conflicting regulatory requirements across jurisdictions pose challenges (10-K).
Keysight Technologies, Incの今後の見通し・業績予想
Keysight Technologies, Incの事業内容
Keysight Technologies (KEYS) provides design and test solutions for R&D applications, with revenue also generated from manufacturing and operations (10-K). The company serves over 40,000 end users annually, including Fortune 1000 companies in communications, aerospace, automotive, and semiconductor industries (10-K). Key offerings include hardware, software, and services supporting engineering workflows in design, manufacturing, deployment, and optimization (10-K). Competitive advantages include global customer relationships, proprietary semiconductor technology, and R&D investments (10-K).
Keysight Technologies, IncのAI業績分析レポート（2024年度）
Keysight Technologies, Inc. (KEYS) FY2024 Annual Report Analysis
Highlights
Business Overview
Keysight Technologies (KEYS) provides design and test solutions for R&D applications, with revenue also generated from manufacturing and operations (10-K). The company serves over 40,000 end users annually, including Fortune 1000 companies in communications, aerospace, automotive, and semiconductor industries (10-K). Key offerings include hardware, software, and services supporting engineering workflows in design, manufacturing, deployment, and optimization (10-K). Competitive advantages include global customer relationships, proprietary semiconductor technology, and R&D investments (10-K).
Revenue Analysis
Revenue increased from $4.9B in FY2023 to $5.4B in FY2024 (XBRL), reflecting a 5-year CAGR of 7.1% (XBRL). Growth drivers include acquisitions of ESI Group SA, Riscure Holding B.V., and AnaPico AG in 2024 (10-K), though financial details of these transactions are not disclosed. Product categories include R&D-focused solutions, manufacturing tools, and operational services (10-K). No segment-specific revenue data is available (N/A).
Profitability Analysis
Operating margin expanded to 24.6% (XBRL), up from 23.5% YoY, while net margin reached 20.7% (XBRL), up 25.7% YoY. EBITDA of $1.5B (26.8% margin) (XBRL) reflects strong cost control. Gross profit data is not available (N/A). Operating income rose 23.5% YoY to $1.3B (XBRL), with net income increasing 25.7% YoY to $1.1B (XBRL).
Balance Sheet Analysis
Total assets grew to $8.7B (XBRL), with total equity rising to $4.7B (XBRL). The equity ratio is 53.6% (XBRL), and debt-to-equity ratio is 0.87x (XBRL). Current ratio of 2.35x (XBRL) indicates strong liquidity. Long-term debt is $1.2B (XBRL), but net debt is -$1.3B (XBRL), reflecting cash reserves of $2.5B (XBRL).
Cash Flow Analysis
Operating cash flow was $1.1B (XBRL), with free cash flow (FCF) of $959M (XBRL) after $185M in CapEx (XBRL). Investing cash flow was -$251M (XBRL), and financing cash flow was -$861M (XBRL), driven by $849M in share repurchases (XBRL). R&D expense totaled $841M (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 190 days (XBRL), with receivables days at 61, inventory days at 182, and payables days at 53 (XBRL).
Risks
Outlook
Management guidance and forward-looking trends are not explicitly detailed in the provided 10-K text. Historical revenue growth (5.5B in FY2025 forecast) suggests continued expansion (XBRL).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 3.9B | 4.3B | 4.2B | 4.9B | 5.4B | 5.5B |
| Operating Income | -394M | 711M | 765M | 1.1B | 1.3B | 1.4B |
| Net Income | 165M | 621M | 627M | 894M | 1.1B | 1.1B |
| Total Assets | 6.6B | 7.2B | 7.8B | 8.1B | 8.7B | 9.3B |
| Total Equity | 3.0B | 3.3B | 3.8B | 4.2B | 4.7B | 5.1B |
| Operating Cash Flow | 555M | 998M | 1.0B | 1.3B | 1.1B | 1.4B |
Health Careの企業一覧
Keysight Technologies, Incと同じ「Health Care」セクターの企業