Keysight Technologies

Methodology

Keysight Technologies' electronic test and measurement equipment generates moderately cyclical earnings tied to 5G infrastructure buildouts, semiconductor capital spending, and aerospace R&D budgets. The company's technical leadership in RF and high-speed digital testing provides competitive advantages. This calculation works reasonably well when normalizing for technology investment cycles.

Methodology

Keysight typically shows moderate PEG ratios reflecting growth from 5G deployments, semiconductor process nodes, and connected device proliferation. The company's technology leadership and software transition support consistent execution. Compare to other test equipment manufacturers to assess whether Keysight's RF capabilities and end-market diversification justify valuations relative to cycle positioning.

Methodology

Keysight pays a minimal dividend as management prioritizes reinvestment in R&D for next-generation test capabilities and strategic acquisitions. The company generates strong cash flows but focuses capital on technology leadership. Total return depends primarily on earnings growth from expanding test complexity in 5G, automotive, and semiconductor markets rather than dividend income.