Keysight Technologies (KEYS) Q1 2026 10-Q Quarterly Report
Filed: Mar 5, 2026Period ending Jan 31, 2026
Health Care
Industrial Instruments For Measurement, Display, and ControlSEC EDGAR Keysight Technologies (KEYS) 10-Q quarterly report for Q1 2026, filed with SEC EDGAR on Mar 5, 2026 for the fiscal period ending Jan 31, 2026. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Keysight Technologies Q1 2026 10-Q Analysis
Management Discussion & Analysis
- • Revenue $1,600M, up 23% YoY; Spirent acquisition contributed $88M (8 ppts) of growth
- • Gross margin 62.2% vs 63.1% YoY; operating margin 15.5% vs 16.8% YoY, both pressured by tariffs and acquisition costs
- • CSG best performer: revenue $1,124M, up 27% YoY, operating margin 27.5% vs 27.2%; EISG up 15% YoY, operating margin 27.2% vs 27.4%
- • Cash $2,195M vs $1,890M at Oct-25; new $1,500M buyback authorized Nov-25, $1,413M remaining; capex guidance ~$160M for FY2026
- • Mgmt monitoring tariffs, export controls, and geopolitical risk; confident in long-term secular growth from AI, 5G/6G, and defense modernization
Risk Factors
- • Tariff policy uncertainty escalated: new broad-based U.S. tariffs from Q2 FY2025, significantly higher China rates, ongoing federal court litigation post-Learning Resources v. Trump (Feb 2026 SCOTUS ruling)
- • Tax refund lawsuit filed Jan 23, 2025 in U.S. Court of Federal Claims seeking $107M; adverse outcome would require reversing previously recorded benefit, materially increasing effective tax rate
- • Malaysia tax incentive expired Oct 31, 2025; Singapore incentive expires Jul 31, 2029; renewal not guaranteed, loss could significantly raise effective tax rate
- • Centripetal IP litigation active across multiple venues: Federal Circuit heard ITC and USPTO appeals Jan 2026; UPC (Germany/France/Italy/Netherlands) infringement complaint served Aug 2024, ruled in Keysight's favor Dec 2025 but under appeal
Keysight Technologies Q1 2026 Quarterly FinancialsXBRL
Revenue
$1.6B
▲ +23.3% YoY
Net Income
$281M
▲ +66.3% YoY
Operating Margin
15.5%
▼ -130bp YoY
Net Margin
17.6%
▲ +454bp YoY
ROE
4.5%
Total Assets
$11.5B
▲ +1.6% QoQ
EPS (Diluted)
$1.63
▲ +68.0% YoY
Operating Cash Flow
$441M
▲ +16.7% YoY
Source: XBRL data from Keysight Technologies Q1 2026 10-Q filing on SEC EDGAR. All figures in USD.
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