Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026

Keysight Technologies, Inc. (KEYS)

A forensic read on Keysight Technologies, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

15.3

Distress distance

Clean

Earnings quality

Forensic signals

54.6

P / E (ttm)

14.5%

ROE

$58.1B

Market cap

8.0%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Keysight Technologies, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 15.3, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+24.8%

FY2024→FY2025

Accruals ratio (% of NOA). Net operating assets grew +24.8% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by receivables up +10% against revenue +8%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 10% of net operating assets, diverging from the balance-sheet accrual read.

9.3%

FY2025

Return on invested capital. Return on invested capital is 9.3% in the latest fiscal year and slipping from 25% — around its ~9% cost of capital, so growth is roughly value-neutral.

Key fundamentals

Latest Revenue$5.38B

Revenue Growth YoY+8.0%

Revenue CAGR (3yr)-0.3%

Net Margin15.8%

Free Cash Flow$1.28B

Return on Equity14.5%

Debt / Equity0.43x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.