What is Keysight Technologies, Inc. (KEYS) DCF Fair Value and Intrinsic Value in 2026?

Keysight Technologies, Inc. (KEYS) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is Keysight Technologies, Inc.'s historical Return on Invested Capital (ROIC) and Moat Rating?

Keysight Technologies, Inc. operates in the Technology sector (Electronic Components) with an economic moat rating of NARROW. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is Keysight Technologies, Inc.'s financial health rating and Piotroski F-Score?

Keysight Technologies, Inc.'s balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor Keysight Technologies, Inc. (KEYS) for quarterly SEC filing thesis breaks?

LocalAlpha audits Keysight Technologies, Inc.'s 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksKEYS

KEYS

Keysight Technologies Inc.Technology / Scientific & Technical InstrumentsINTACT

Keysight Technologies, Inc. provides electronic design and test solutions worldwide. The company operates through Communications Solutions Group and Electronic Industrial Solutions Group segments. It offers electronic design and test software, instrumentation, systems, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of communication systems in wireless, data center ecosystem, enterprise, and aerospace, defense, and government end markets. The company also develops and deploys communications products and services; and operates communications networks. In addition, it provides electronic design, test and simulation software, instrumentation, systems, computer-aided engineering solutions, and related services used in the design, simulation, validation, manufacturing, installation, and optimization of electronic equipment in the automotive and energy, semiconductor solutions, and general electronics industries. Further, the company offers product support; technical and application support for hardware, software, and solutions; and professional services, such as installation, training, engineering, optimization of equipment and solution adoption, utilization, and integration services. Additionally, it provides oscilloscopes; generators, sources and power supplies; software products; analyzers; wireless products; network test and security; modular instruments; meters; network visibility; and other products, as well as KeysightCare support plans, calibration, repair, technology refresh, test as a service, network/security, consulting, financial alternatives, education, software testing, support, managed, device vulnerability analysis, support portal, and used equipment services. Keysight Technologies, Inc. was founded in 1939 and is headquartered in Santa Rosa, California.

Share Price

$338.64

52W: $158.79 - $374.96

DCF Fair Value

$284.36

-19.1% Premium

Thesis Hub

P/E (TTM)

45.8x

ROIC

19.3%

Operating Margin

25.7%

FCF Yield

3.2%

Debt / Equity

0.42x

Piotroski Score

8/9

Altman Z-Score

3.02

Market Cap

$57.7B

Price vs. Intrinsic Value Corridor

Overvalued vs DCF ($284.36)

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

DCF Fair Value

$284.36

MOS Buy Target (-25%)

$213.27

Valuation Overlays: DCF Fair Value ($284.36) 25% MOS Buy Target ($213.27) Revised Graham ($188.32) Graham Number ($80.10)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$338.64

DCF Fair Value

$284.93

-18.9% Premium

Starting Free Cash Flow ($M)$1,867M

$100M$1,867M (Reported)$50,000M

Stage 1 Growth (Years 1-5)12.9%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$200M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$20.2B

PV of Terminal Value

$28.4B

Implied Enterprise Value

$48.6B

Implied Equity Value

$48.4B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$2,108	$2,380	$2,687	$3,033	$3,425	$3,579	$3,740	$3,908	$4,084	$4,268
Present Value (PV)	$1,934	$2,003	$2,075	$2,149	$2,226	$2,134	$2,046	$1,961	$1,880	$1,803

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-322.8% Premium

$80.10

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $7.39BVPS: $38.59

Revised Graham Formula-79.8% Premium

$188.32

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings3.1% Yield

$10.43 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $1.8BYield: 3.1%

Reverse DCF: Market Growth Expectation

FAIR BARRIER

11.4% CAGR (Next 10 Yrs)

At the current price of $338.64, the market is assuming the business will compound Free Cash Flow at 11.4% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

ℹ Fair expectations: Requires steady execution.

Autonomous Thesis Underwriting

Surveil KEYS with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for Keysight Technologies Inc.. If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 25.7% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

Track KEYS & Set Alerts Browse S&P 500 Coverage

Frequently Asked Questions: Keysight Technologies Inc. (KEYS) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for Keysight Technologies Inc..

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, Keysight Technologies Inc. has an estimated DCF intrinsic fair value of $284.36 per share compared to its current market price of $338.64. This represents an estimated 19.1% premium over fair value. Additionally, its classic Benjamin Graham Number stands at $80.10.