Keysight Technologies (KEYS)

NYSEInformation TechnologyHardware, Equipment & PartsSnapshot 2026-10-15

$331.21-3.18%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge Keysight Technologies’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

+0.4%

+10% or more+5%0%−5%−10% or less

13.71 → 13.77 EPS · FY ending Oct 31, 2027 · 6 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 6 to 6; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

Three key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Non-GAAP EPS near $2.46 in Q3 FY2026	Profit per share is rising, with EPS near $2.46 next quarter.	Intact	EPS falls below $2.43 in Q3 FY2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Successful integration of VPIphotonics acquisition	A supporting condition in Keysight Technologies's published investment case. The stated target is Integration completed and contributing to growth by FY26 end.	Intact	Acquisition fails to contribute to revenue or profit growth by FY26 end	Qualitative: Integration contributing to growth (Orders >$2B, Raised FY26 Outlook) Keysight raised its FY26 outlook and reported orders topping $2B, driven by AI and 6G expansion. Context reviewed through Oct 15, 2026Last status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth reaching about $1.74 billion in Q3 FY2026	Keysight grows revenue about 19% a year, hitting $1.74 billion next quarter.	Intact	revenue falls below $1.69B in Q3 FY2026	Revenue: $1.846B FY2026-Q3; GAAP. Published target: ~$1.74B. Same fiscal period as the stored target. Source published Sep 2, 20261,846,000,000 USD · source valueSource reportLast status assessment Oct 15, 2026 Measurement source consolidated · GAAP FY2026-Q3 · Period ending Jul 31, 2026 Source: company_financial_results. Reference: 045ccd12-b644-41b5-9584-d76e63fd5f68. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-10-31 · fmp

FY2027 EPS$13.77

$11.83 → $13.77 · observed estimates

FY2027 revenue$8.15B

$7.65B → $8.15B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$11.83	$7,648,389,050	7 / 9
2026-07-25	$11.83	$7,648,389,050	7 / 9
2026-07-26	$11.83	$7,648,389,050	7 / 9
2026-07-27	$11.83	$7,648,389,050	7 / 9
2026-07-28	$11.83	$7,648,389,050	7 / 9
2026-07-29	$11.83	$7,648,389,050	7 / 9
2026-07-30	$11.83	$7,648,389,050	7 / 9
2026-07-31	$11.86	$7,677,892,715	6 / 8
2026-08-01	$11.86	$7,677,892,715	6 / 8
2026-08-02	$11.86	$7,677,892,715	6 / 8
2026-08-03	$11.86	$7,677,892,715	6 / 8
2026-08-04	$11.92	$7,688,720,650	12 / 11
2026-08-05	$11.92	$7,688,720,650	12 / 11
2026-08-06	$11.92	$7,688,720,650	12 / 11
2026-08-07	$11.86	$7,677,892,715	6 / 8
2026-08-08	$11.92	$7,688,720,650	12 / 11
2026-08-09	$11.92	$7,688,720,650	12 / 11
2026-08-10	$11.92	$7,688,720,650	12 / 11
2026-08-12	$11.86	$7,677,892,715	6 / 8
2026-08-13	$11.86	$7,677,892,715	6 / 8
2026-08-14	$11.86	$7,677,892,715	6 / 8
2026-08-15	$11.86	$7,677,892,715	6 / 8
2026-08-16	$11.86	$7,677,892,715	6 / 8
2026-08-17	$11.86	$7,677,892,715	6 / 8
2026-08-18	$11.86	$7,677,892,715	6 / 8
2026-08-19	$11.86	$7,677,892,715	6 / 8
2026-08-20	$13.46	$8,071,045,639	6 / 8
2026-08-21	$13.46	$8,071,045,639	6 / 8
2026-08-22	$13.46	$8,071,045,639	6 / 8
2026-08-23	$13.46	$8,071,045,639	6 / 8
2026-08-24	$13.46	$8,071,045,639	6 / 8
2026-08-25	$13.46	$8,071,045,639	6 / 8
2026-08-26	$13.46	$8,071,045,639	6 / 8
2026-08-27	$13.46	$8,071,045,639	6 / 8
2026-08-28	$13.46	$8,071,045,639	6 / 8
2026-08-29	$13.71	$8,135,270,621	6 / 8
2026-08-30	$13.71	$8,135,270,621	6 / 8
2026-08-31	$13.71	$8,135,270,621	6 / 8
2026-09-01	$13.71	$8,135,270,621	6 / 8
2026-09-02	$13.71	$8,135,270,621	6 / 8
2026-09-03	$13.71	$8,135,270,621	6 / 8
2026-09-04	$13.71	$8,135,270,621	6 / 8
2026-09-05	$13.71	$8,135,270,621	6 / 8
2026-09-06	$13.71	$8,135,270,621	6 / 8
2026-09-07	$13.71	$8,135,270,621	6 / 8
2026-09-08	$13.71	$8,135,270,621	6 / 8
2026-09-09	$13.71	$8,135,270,621	6 / 8
2026-09-10	$13.71	$8,135,270,621	6 / 8
2026-09-11	$13.71	$8,135,270,621	6 / 8
2026-09-12	$13.71	$8,135,270,621	6 / 8
2026-09-13	$13.71	$8,135,270,621	6 / 8
2026-09-14	$13.71	$8,135,270,621	6 / 8
2026-09-15	$13.71	$8,135,270,621	6 / 8
2026-09-16	$13.70	$8,137,460,320	6 / 8
2026-09-17	$13.70	$8,137,460,320	6 / 8
2026-09-18	$13.70	$8,137,460,320	6 / 8
2026-09-19	$13.70	$8,137,460,320	6 / 8
2026-09-20	$13.70	$8,137,460,320	6 / 8
2026-09-21	$13.70	$8,137,460,320	6 / 8
2026-09-22	$13.70	$8,137,460,320	6 / 8
2026-09-23	$13.70	$8,137,460,320	6 / 8
2026-09-24	$13.70	$8,137,460,320	6 / 8
2026-09-25	$13.70	$8,137,460,320	6 / 8
2026-09-26	$13.70	$8,137,460,320	6 / 8
2026-09-27	$13.70	$8,137,460,320	6 / 8
2026-09-28	$13.70	$8,137,460,320	6 / 8
2026-09-29	$13.70	$8,137,460,320	6 / 8
2026-09-30	$13.70	$8,137,460,320	6 / 8
2026-10-01	$13.70	$8,137,460,320	6 / 8
2026-10-02	$13.70	$8,137,460,320	6 / 8
2026-10-03	$13.70	$8,137,460,320	6 / 8
2026-10-04	$13.70	$8,137,460,320	6 / 8
2026-10-05	$13.70	$8,137,460,320	6 / 8
2026-10-06	$13.70	$8,137,460,320	6 / 8
2026-10-07	$13.77	$8,154,087,220	6 / 8
2026-10-08	$13.77	$8,154,087,220	6 / 8
2026-10-09	$13.77	$8,154,087,220	6 / 8
2026-10-10	$13.77	$8,154,087,220	6 / 8
2026-10-11	$13.77	$8,154,087,220	6 / 8
2026-10-12	$13.77	$8,154,087,220	6 / 8
2026-10-13	$13.77	$8,154,087,220	6 / 8
2026-10-14	$13.77	$8,154,087,220	6 / 8
2026-10-15	$13.77	$8,154,087,220	6 / 8

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	10	2	2
2026-06-01	10	2	1
2026-07-01	11	2	2
2026-08-01	10	2	2
2026-09-01	10	2	0
2026-10-01	10	2	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 10 Buy / Strong Buy · 2 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 16–Oct 15 · 1 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Non-GAAP EPS near $2.46 in Q3 FY2026Direct metric needs a verified mapping

Next proof point

Nov 23, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

1 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.7%Typical daily move · historical

Downside history

-20.5%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Keysight Technologies outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

This investment represents a durable compounder, focusing on sustained revenue and earnings growth. The current thesis state is intact, supported by strong recent financial performance.

What's priced into Keysight Technologies

The market currently reflects a stretched valuation, indicating that expectations are high. There is a premium compared to peers, suggesting that investors are anticipating continued strong performance.

What the fundamentals likely do

Management is on track with priorities to sustain revenue growth and drive earnings per share growth. Recent financial results show strong revenue increases, but there is a moderate risk of missing future guidance.

What Keysight Technologies hinges on

Key factors include the potential for the Federal Reserve to cut rates, which could benefit KEYS, and the performance of sector leaders that may influence broader tech momentum. Additionally, any guidance cuts from KEYS could negatively impact sentiment.