Keysight Technologies Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Keysight Technologies Inc (KEYS) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Keysight Technologies Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 6,582M vs 5,767M combined for tracked competitors (53.3% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+12.2% annualized vs trailing 12 months), vs accelerating (+4.0%) for its tracked peer group.
- Growth: Keysight Technologies Inc generated 36.5% revenue growth year over year in Q3 2026, vs 15.4% for its tracked competitors combined.
- Profitability: Its 21.5% net margin compares with 17.5% for the peer group.
- Scale: Keysight Technologies Inc ranks #4 of 71 companies by market capitalization in the IT Infrastructure industry, holding 7.0% of industry market cap.
- Peer revenue share: Keysight Technologies Inc accounted for 55.2% of combined revenue among its tracked peer group, up from 51.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.39M compares with $0.32M for the peer group (1.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
KEYS Sales vs. its Competitors, Q3 2026
Keysight Technologies Inc reported revenue growth of 36.54 % year on year in Q3 2026, above its competitors' combined revenue growth of 15.44 %.
With a net margin of 21.51 %, Keysight Technologies Inc achieved higher profitability than its competitors (17.52 %).
Keysight Technologies Inc generated 55.18 % of the combined sales of its peer group, up from 51.00 % a year earlier.
Keysight Technologies Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Keysight Technologies Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Keysight Technologies inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Keysight Technologies Inc's competitor groups requires a Commercial License.
For context: the IT Infrastructure industry grew revenue 21.0% year over year, combined, vs 36.5% for Keysight Technologies Inc. Keysight Technologies Inc's share of combined industry revenue moved from 2.48% to 2.80%, a gain of 0.32 percentage points.
Keysight Technologies Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Keysight Technologies inc | Yes | Yes | Yes | No |
| Competitors combined (4) | ||||
| High-Confidence Competitors (9) | ||||
| Similar-Size Competitors (8) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
KEYS Stock Performance relative to its Competitors
KEYS Stock Performance relative to High-Confidence Competitors
KEYS Stock Performance relative to Similar-Size Competitors
KEYS Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Viavi Solutions Inc | 282.9% | Outperformed |
| 2 | Ceva Inc | 282.9% | Outperformed |
| 3 | Mettler toledo International Inc | 282.9% | Outperformed |
| 4 | Cadence Design Systems Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Keysight Technologies Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Keysight Technologies Inc's Comment on Competition and Industry Peers
The market for electronic design and test solutions is highly competitive across our targeted markets. In the communications test market, our primary competitors are Anritsu Corporation, Ansoft Corporation (a subsidiary of Ansys Corporation), Cobham plc, National Instruments Corporation, Rohde & Schwarz GmbH & Co. KG, Tektronix, Inc. (a subsidiary of Danaher Corporation) and Teradyne, Inc. In the aerospace and defense market our primary competitors are Cobham plc, Rohde & Schwarz GmbH & Co. KG, and Tektronix, Inc. In the industrial, computer, and semiconductor market, we compete against companies such as Ametek, Inc., Fluke Corporation (a subsidiary of Danaher Corporation), National Instruments Corporation, Rohde & Schwarz GmbH & Co. KG, Tektronix, Inc., Teledyne Technologies Incorporated and Teradyne, Inc.
Our electronic measurement customer support and services business competes
with independent test instrument service providers and other original equipment
manufacturers. Many of these competitors offer a wide range of services and
can support instruments from multiple manufacturers. Service quality, cost and
turn-around time drive competitiveness. In addition, some of our customers have
in-house calibration and repair capabilities.
We compete with regional and country-specific test instrument service providers
and government measurement laboratories that are not original equipment manufacturers.
Our primary competitors are Trescal Limited, Tektronix Instrument Calibration
Services and Ceprei Laboratories. Due to differing country and regulatory accreditation
standards, the services provided may vary greatly.
Our refurbished instruments business faces competition from other electronic measurement instrument competitors with trade-in programs and from numerous rental companies, equipment dealers, brokers and resellers.
Publicly Traded Peers of Keysight Technologies inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Keysight Technologies inc | 62,235.02 | 6,582.00 |
| Cadence Design Systems Inc | 89,425.96 | 5,528.61 |
| Mettler toledo International Inc | 31,162.17 | 4,133.88 |
| Viavi Solutions Inc | 9,379.66 | 1,516.80 |
| Ceva Inc | 971.18 | 115.88 |
| SUBTOTAL | 193,174.00 | 17,877.17 |
Sources: Keysight Technologies inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Keysight Technologies inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Keysight Technologies Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| National Instruments Corporation | Named by the company | 85% |
| Ametek, Inc. | Named by the company | 85% |
| Rohde & Schwarz GmbH & Co. KG | Named by the company | 85% |
| Gigamon | Named by the company | 85% |
| Teradyne, Inc. | Named by the company | 85% |
| Anritsu Corporation | Named by the company | 85% |
| Spirent Communications plc | Named by the company | 85% |
| Silvaco Group Inc | Named by the company | 85% |
| VIAVI Solutions Inc. | Named by the company | 85% |
| Fortive Corporation | Named by the company | 85% |
| Teledyne Technologies | Named by the company | 85% |
| Pdf Solutions Inc | Named by the company | 85% |
| Cadence Design Systems Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Keysight Technologies Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Keysight Technologies Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Keysight Technologies inc | Communications Solutions Group 70.25 % |
| Cadence Design Systems Inc | Reportable 100.00 % |
| Mettler toledo International Inc | US Operations 34.31 % |
| Viavi Solutions Inc | Network and Service Enablement 79.17 % |
| Ceva Inc | Connectivity Products 78.13 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Keysight Technologies Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Keysight Technologies inc | 62,235 | 391,786 | 75,000 |
| Cadence Design Systems Inc | 89,426 | 400,624 | 84,853 |
| Mettler toledo International Inc | 31,162 | 249,029 | 54,555 |
| Viavi Solutions Inc | 9,380 | 369,951 | -7,415 |
| Ceva Inc | 971 | 273,304 | -25,887 |
| PEERS TOTAL | 130,939 | 323,421 | 58,275 |
Keysight Technologies Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Keysight Technologies inc | Americas 42.50 % |
| Cadence Design Systems Inc | United States 46.36 % |
| Mettler toledo International Inc | Us Operations segment 34.31 % |
| Viavi Solutions Inc | United States 37.92 % |
| Ceva Inc | Asia Pacific 59.25 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Keysight Technologies Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 66 companies in Keysight Technologies Inc's industry classification, broader than the peer set above. Market cap in millions of $.Keysight Technologies Inc ranks #4 of 66 companies by market capitalization in its industry, holding 7.02 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,231, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Amphenol Corporation | 217,810 | 24.51 % |
| 2 | Danaher Corporation | 158,640 | 17.85 % |
| 3 | Vertiv Holdings Co | 97,926 | 11.02 % |
| 4 | Keysight Technologies inc | 62,400 | 7.02 % |
| 5 | Teradyne Inc | 1,234 | 5.2% |
| 6 | Ametek Inc | 1,234 | 5.2% |
| 7 | Roper Technologies Inc | 1,234 | 5.2% |
| 8 | Hubbell Inc | 1,234 | 5.2% |
| 9 | Veralto Corporation | 1,234 | 5.2% |
| 10 | Mks Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Keysight Technologies Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Keysight Technologies Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Amphenol Corporation | 217,810 | -30.94 % |
| 2 | Danaher Corporation | 158,640 | 23.55 % |
| 3 | Vertiv Holdings Co | 97,926 | 78.39 % |
| 4 | Keysight Technologies inc | 62,400 | 109.30 % |
| 5 | Teradyne Inc | 1,234 | 12.3% |
| 6 | Ametek Inc | 1,234 | 12.3% |
| 7 | Roper Technologies Inc | 1,234 | 12.3% |
| 8 | Hubbell Inc | 1,234 | 12.3% |
| 9 | Veralto Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Keysight Technologies Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Keysight Technologies Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the IT Infrastructure industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (79 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 64.69 % | 39.24 % (avg) | +25.4 pp |
| Operating Margin | 20.25 % | industry median | +16.8 pp |
| EBITDA Margin | 29.41 % | 5.24 % (avg) | +24.2 pp |
| Capital Intensity (Capex / Revenue) | - | 3.72 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Keysight Technologies Inc's Valuation vs Competitive Position
Valuation multiples vs the IT Infrastructure industry average (79 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 46.3x | 39.9x | +6.3x |
| EV / EBITDA | 30.5x | 20.9x | +9.5x |
| P/B | 9.5x | 4.7x | +4.8x |
| Return on Equity | 20.43 % | industry aggregate | 6.78 % |
| Return on Invested Capital | 8.59 % | -0.81 % (avg) | 9.40 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Keysight Technologies Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 1.63 % | 12.90 % | 13.31 % | -2.00 % | 16.37 % | 10.78 % | -6.31 % | 13.13 % |
| Operating Margin | 16.08 % | 2.18 % | 17.89 % | 17.97 % | 22.73 % | 24.95 % | 13.67 % | 15.96 % |
| Return on Invested Capital | 13.08 % | 0.97 % | 9.54 % | 8.20 % | 11.16 % | 12.92 % | 5.44 % | 6.06 % |
| P/E | 16.3x | 93.8x | 29.8x | 37.9x | 37.5x | 27.3x | 47.3x | 36.1x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Keysight Technologies Inc's Strategic Group Map
Every company in Keysight Technologies Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Keysight Technologies Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Keysight Technologies Inc's BCG Growth-Share Matrix
Relative market share (vs Keysight Technologies Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Keysight Technologies Inc falls in the Dog quadrant: relative market share of 0.29x vs its largest competitor, in an industry growing revenue 8.6% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Keysight Technologies Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,231 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Keysight Technologies Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Keysight Technologies Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Keysight Technologies Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Keysight Technologies Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Keysight Technologies Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 16.8 points above the industry median.
- Return on equity 6.8 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+12.2% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.29x).
Opportunities
- A meaningful share of tracked competitors (50.00 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Keysight Technologies Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Keysight Technologies inc | 0.98 | 2.12 | 0.44 |
| Cadence Design Systems Inc | 1.49 | 2.44 | 0.47 |
| Mettler toledo International Inc | 0.04 | 1.13 | - |
| Viavi Solutions Inc | 1.07 | 1.73 | 0.83 |
| Ceva Inc | 1.14 | 9.78 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Keysight Technologies Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Keysight Technologies inc | Q2 2026 | +36.5 % | +107.9 % |
| Cadence Design Systems Inc | Q1 2026 | +18.7 % | +22.7 % |
| Mettler toledo International Inc | Q2 2026 | +4.5 % | +15.1 % |
| Viavi Solutions Inc | Q2 2026 | +52.5 % | +308.8 % |
| Ceva Inc | Q2 2026 | +15.5 % | - |
| PEERS TOTAL | +23.8 % | +48.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Keysight Technologies Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Keysight Technologies inc | Q2 2026 | +21.6 % | +9.7 % |
| Cadence Design Systems Inc | Q1 2026 | +31.4 % | +111.7 % |
| Mettler toledo International Inc | Q2 2026 | +30.3 % | +16.4 % |
| Viavi Solutions Inc | Q2 2026 | +42.8 % | +101.8 % |
| Ceva Inc | Q2 2026 | +21.5 % | -8.2 % |
Keysight Technologies Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Keysight Technologies inc | 10.89% | 13.47% | 20.43% |
| Cadence Design Systems Inc | 11.32% | 14.30% | 21.06% |
| Mettler toledo International Inc | 24.86% | 34.41% | - |
| Viavi Solutions Inc | - | - | - |
| Ceva Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Keysight Technologies Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Keysight Technologies inc | 49.28 | 9.46 |
| Cadence Design Systems Inc | 76.10 | 16.18 |
| Mettler toledo International Inc | 34.91 | 7.54 |
| Viavi Solutions Inc | - | 6.18 |
| Ceva Inc | - | 8.38 |
| PEERS AVERAGE | 58.62 | 10.81 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.