Income StatementBalance SheetCash FlowSegments
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Keysight Technologies Cash Flow Statement

Operating, investing, and financing cash movements

Keysight Technologies generated $1.5B in operating cash flow over the trailing twelve months. After $130.0M in capital expenditures, free cash flow was $1.3B. Free cash flow increased 0.4% year-over-year. Based on the Q4 2025 filing.

Net Cash From Operating (TTM)$1.5BNet Cash From Investing (TTM)-$1.7BNet Cash From Financing (TTM)$327.0MCapital Expenditures (TTM)$130.0MNet Change In Cash (TTM)$467.0M
Latest FilingQ4 2025
Report Date2026-03-05
Market Cap$61.8B
P/E Ratio64.23
ROE16.89%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$8.0M$0.0$3.0M$0.0$1.4B$16.0M
Capital expenditures$38.0M$32.0M$27.0M$31.0M$38.0M$34.0M
Proceeds from other investments—$0.0———$7.0M
Net cash from investing activities-$38.0M-$33.0M-$33.0M-$31.0M-$1.6B-$44.0M
Net Payments for or Proceeds from Investments-$2.8M-$7.5M-$7.5M-$7.5M-$7.5M—
Payment for (Proceeds from) Other Investing Activity-$12.0M$1.0M$3.0M$0.0$3.0M$1.0M
Proceeds from government incentives$1.8M$250.0K$250.0K$250.0K$250.0K—

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures incurred but not yet paid$2.0M$13.0M$1.0M$5.0M$2.0M$11.0M
Interest paid$37.0M$0.0$39.0M$0.0$38.0M$32.0M
Income Taxes Paid, Net$16.0M$9.0M$35.0M$30.0M$46.0M$18.0M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable$30.0M-$16.0M$23.0M$22.0M—-$13.0M
Change in accounts receivable—-$53.0M-$70.0M-$50.0M—-$33.0M
Change in income taxes payable/receivable$54.0M$34.0M$22.0M-$14.0M$63.0M-$41.0M
Change in inventories$0.0$26.0M-$8.0M$3.0M$3.0M$3.0M
Other working capital changes$49.0M-$68.0M$65.0M-$15.0M$33.0M$15.0M
Deferred income taxes$289.0M-$10.0M-$30.0M-$18.0M-$58.0M-$1.0M
Net cash from operating activities$359.0M$378.0M$484.0M$322.0M$225.0M$441.0M
Net income—$169.0M$257.0M$191.0M$233.0M$281.0M
Stock-based compensation$26.0M$62.0M$36.0M$31.0M$33.0M$76.0M
Amortization$36.0M$35.0M$35.0M$34.0M$41.0M$67.0M
Depreciation$32.0M$31.0M$33.0M$33.0M$34.0M$38.0M
Gain (Loss) on Sale of Investments$0.0$0.0———$5.0M
Accrued compensation—-$38.0M$58.0M-$28.0M—-$61.0M
Deferred revenue—$43.0M$9.0M-$64.0M$47.0M$70.0M
Increase (Decrease) in Income Taxes Receivable$50.5M$5.0M———$53.0M
Inventory write-downs$9.0M$9.0M$13.0M$8.0M$13.0M$9.0M
Other Noncash Income (Expense)—-$1.0M-$1.0M-$3.0M-$1.0M-$6.0M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$321.0M$346.0M$457.0M$291.0M$187.0M$407.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash$4.0M-$8.0M$18.0M-$1.0M$0.0$7.0M
Net increase (decrease) in cash—$263.0M$1.1B$262.0M—$305.0M
Unrealized Gain (Loss) on Investments$1.0M$37.0M-$14.0M$16.0M$54.0M-$53.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net cash from financing activities-$160.0M-$74.0M$589.0M-$28.0M—-$99.0M
Taxes paid for net share settlement$0.0$29.0M$0.0$9.0M$1.0M$31.0M
Payments For Repurchase Of Common Stock and related Excise Tax$110.8M$75.0M$153.0M$50.0M$99.0M$87.0M
Payments Of Debt Issuance Costs$3.0M$0.0$7.0M$1.0M$0.0$13.0M
Payments to Noncontrolling Interests$0.0$0.0$0.0$0.0$0.0—
Proceeds From Issuance Of Senior Long Term Debt$149.8M$187.0M$187.0M$187.0M$187.0M—
Proceeds from exercises of stock options and other stock issuances$1.0M$31.0M$0.0$32.0M$0.0$32.0M
Other, net—-$1.0M———$0.0
Repayments of Debt$156.0M$0.0$0.0$0.0$0.0—