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KEYS (Keysight Technologies) Piotroski F-Score : 5 (As of Oct. 31, 2024)


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What is Keysight Technologies Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Keysight Technologies has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Keysight Technologies's Piotroski F-Score or its related term are showing as below:

KEYS' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 5

During the past 13 years, the highest Piotroski F-Score of Keysight Technologies was 9. The lowest was 3. And the median was 6.


Keysight Technologies Piotroski F-Score Historical Data

The historical data trend for Keysight Technologies's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Keysight Technologies Piotroski F-Score Chart

Keysight Technologies Annual Data
Trend Oct14 Oct15 Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 6.00 8.00 9.00 6.00

Keysight Technologies Quarterly Data
Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 9.00 6.00 6.00 6.00 5.00

Competitive Comparison of Keysight Technologies's Piotroski F-Score

For the Scientific & Technical Instruments subindustry, Keysight Technologies's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Keysight Technologies's Piotroski F-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Keysight Technologies's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Keysight Technologies's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jul24) TTM:Last Year (Jul23) TTM:
Net Income was 226 + 172 + 126 + 389 = $913 Mil.
Cash Flow from Operations was 378 + 328 + 110 + 255 = $1,071 Mil.
Revenue was 1311 + 1259 + 1216 + 1217 = $5,003 Mil.
Gross Profit was 844 + 813 + 763 + 755 = $3,175 Mil.
Average Total Assets from the begining of this year (Jul23)
to the end of this year (Jul24) was
(8826 + 8683 + 9060 + 8988 + 9323) / 5 = $8976 Mil.
Total Assets at the begining of this year (Jul23) was $8,826 Mil.
Long-Term Debt & Capital Lease Obligation was $1,393 Mil.
Total Current Assets was $3,996 Mil.
Total Current Liabilities was $1,949 Mil.
Net Income was 299 + 260 + 283 + 288 = $1,130 Mil.

Revenue was 1443 + 1381 + 1390 + 1382 = $5,596 Mil.
Gross Profit was 910 + 883 + 909 + 896 = $3,598 Mil.
Average Total Assets from the begining of last year (Jul22)
to the end of last year (Jul23) was
(7852 + 8098 + 8448 + 8708 + 8826) / 5 = $8386.4 Mil.
Total Assets at the begining of last year (Jul22) was $7,852 Mil.
Long-Term Debt & Capital Lease Obligation was $1,980 Mil.
Total Current Assets was $4,902 Mil.
Total Current Liabilities was $1,338 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Keysight Technologies's current Net Income (TTM) was 913. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Keysight Technologies's current Cash Flow from Operations (TTM) was 1,071. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jul23)
=913/8826
=0.10344437

ROA (Last Year)=Net Income/Total Assets (Jul22)
=1130/7852
=0.14391238

Keysight Technologies's return on assets of this year was 0.10344437. Keysight Technologies's return on assets of last year was 0.14391238. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Keysight Technologies's current Net Income (TTM) was 913. Keysight Technologies's current Cash Flow from Operations (TTM) was 1,071. ==> 1,071 > 913 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jul24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul23 to Jul24
=1393/8976
=0.15519162

Gearing (Last Year: Jul23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jul22 to Jul23
=1980/8386.4
=0.23609654

Keysight Technologies's gearing of this year was 0.15519162. Keysight Technologies's gearing of last year was 0.23609654. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jul24)=Total Current Assets/Total Current Liabilities
=3996/1949
=2.0502822

Current Ratio (Last Year: Jul23)=Total Current Assets/Total Current Liabilities
=4902/1338
=3.66367713

Keysight Technologies's current ratio of this year was 2.0502822. Keysight Technologies's current ratio of last year was 3.66367713. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Keysight Technologies's number of shares in issue this year was 175. Keysight Technologies's number of shares in issue last year was 179. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=3175/5003
=0.63461923

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=3598/5596
=0.64295926

Keysight Technologies's gross margin of this year was 0.63461923. Keysight Technologies's gross margin of last year was 0.64295926. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jul23)
=5003/8826
=0.56684795

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jul22)
=5596/7852
=0.71268467

Keysight Technologies's asset turnover of this year was 0.56684795. Keysight Technologies's asset turnover of last year was 0.71268467. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+0+1+0+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Keysight Technologies has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Keysight Technologies  (NYSE:KEYS) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Keysight Technologies Piotroski F-Score Related Terms

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Keysight Technologies Business Description

Address
1400 Fountaingrove Parkway, Santa Rosa, CA, USA, 95403-1738
Keysight Technologies is a leader in the field of testing and measurement, helping electronics OEMs and suppliers alike bring products to market to fit industry standards and specifications. Keysight specializes in the communications market, but also supplies into the government, automotive, industrial, and semiconductor manufacturing markets. Keysight's solutions include testing tools, analytical software, and services. The firm's stated objective is to reduce time to market and improve efficiency at its more than 30,000 customers.
Executives
Richard P Hamada director 2211 S 47TH ST, PHOENIX AZ 85034
Lisa M. Poole officer: VP and Controller 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
Kevin A Stephens director 1220 AUGUSTA DRIVE, SUITE 600, HOUSTON TX 77057
Kailash Narayanan officer: SVP 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
Ronald S. Nersesian director, officer: CEO 5301 STEVENS CREEK BLVD., MS 1A-LC, SANTA CLARA CA 95051
Neil Dougherty officer: SVP & CFO 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
Huei Sin Ee officer: SVP 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
Jeffrey K Li officer: SVP and Secretary 1400 FOUNTAINGROVE PKWY, SANTA ROSA CA 95403
John Page officer: SVP 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
Soon Chai Gooi officer: SVP 5301 STEVENS CREEK BLVD., SANTA CLARA CA 95051
James Cullen director 5301 STEVENS CREEK BLVD, MS 1A-LC, SANTA CLARA CA 95051
Satish Dhanasekaran officer: SVP 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
Charles J Dockendorff director COVIDIEN LTD., 15 HAMPSHIRE STREET, MANSFIELD MA 02048
Ingrid A Estrada officer: SVP 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403
John C. Skinner officer: VP & Controller 1400 FOUNTAINGROVE PARKWAY, SANTA ROSA CA 95403