Keysight Technologies (KEYS) 10-K Summary — Year Ended Oct 31, 2024
Keysight Technologies reported a decline in revenue and net income for the fiscal year, with operating cash flow also decreasing. The results were impacted by a one-time income tax charge.
Key takeaway
Year ended Oct 31, 2024 · FY2025 10-K
Keysight Technologies reported a decline in revenue and net income for the fiscal year, with operating cash flow also decreasing. The results were impacted by a one-time income tax charge.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$5B
Revenue reported for the fiscal year.
Operating income
$833M
Income from operations reported for the year.
Net income
$614M
Net income reported for the year.
Operating cash flow
$1.1B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 31, 2021 | $4.9B | n/a |
| Oct 31, 2022 | $5.4B | +9.7% |
| Oct 31, 2023 | $5.5B | +0.8% |
| Oct 31, 2024 | $5B | -8.9% |
Business overview
The provided filing context does not include a detailed business description. It only references the Business section item number.
Financial performance
Revenue decreased compared to the prior year, following two consecutive years of growth. Operating income remained positive but net income fell significantly due to a large deferred tax expense from a tax rate adjustment.
Material risks
The risk factors section is only identified by item number in the provided context; no specific risks are described.
Liquidity and capital
Cash from operations declined, partly due to a one-time income tax charge and changes in working capital. The company's liquidity is subject to global economic fluctuations and regulatory constraints on cash movements.
What to watch
Investors should monitor the impact of the one-time tax charge on future effective tax rates and deferred tax asset valuations.