Keysight Technologies Files FY24 10-K

TL;DR

Keysight's FY24 10-K is in, check out their product/service revs and debt maturities through 2034.

AI Summary

Keysight Technologies, Inc. filed its 10-K for the fiscal year ending October 31, 2024, reporting on its financial performance and business operations. The company, headquartered in Santa Rosa, CA, operates in the industrial instruments sector. This filing provides a comprehensive overview of its fiscal year 2024 results, including details on its product and service revenues, and its financial obligations such as senior notes maturing in 2024, 2027, 2029, and 2034.

Why It Matters

This 10-K filing provides investors and analysts with a detailed look at Keysight's financial health and strategic positioning for the fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant new risks.

Key Numbers

• 2024-10-31 — Fiscal Year End (Reporting period for the 10-K)
• 2023-11-01 — Fiscal Year Start (Beginning of the reporting period)

Key Players & Entities

• Keysight Technologies, Inc. (company) — Filer of the 10-K
• 2024-10-31 (date) — Fiscal year end
• Santa Rosa, CA (location) — Company headquarters
• Senior Notes 2024 (dollar_amount) — Debt maturity
• Senior Notes 2027 (dollar_amount) — Debt maturity
• Senior Notes 2029 (dollar_amount) — Debt maturity
• Senior Notes 2034 (dollar_amount) — Debt maturity

FAQ

Key Financial Figures

• $0.01 — hich registered Common Stock par value $0.01 per share KEYS New York Stock Exchange
• $5.0 b — onics, and semiconductor. We generated $5.0 billion, $5.5 billion and $5.4 billion of
• $5.5 billion — iconductor. We generated $5.0 billion, $5.5 billion and $5.4 billion of revenue in 2024, 20
• $5.4 billion — enerated $5.0 billion, $5.5 billion and $5.4 billion of revenue in 2024, 2023 and 2022, resp
• $919 million — cycle. In 2024, R&D investment totaled $919 million. We employ vertical technology integrat

Filing Documents

• keys-20241031.htm (10-K) — 3120KB
• keys-10312024xexx191.htm (EX-19.1) — 24KB
• keys-10312024xexx211.htm (EX-21.1) — 5KB
• keys-10312024xexx231.htm (EX-23.1) — 2KB
• keys-10312024xexx311.htm (EX-31.1) — 11KB
• keys-10312024xexx312.htm (EX-31.2) — 11KB
• keys-10312024xexx321.htm (EX-32.1) — 5KB
• keys-10312024xexx322.htm (EX-32.2) — 5KB
• keys-10312024xexx97.htm (EX-97) — 36KB
• keys-20241031_g1.jpg (GRAPHIC) — 58KB
• keys-20241031_g2.jpg (GRAPHIC) — 83KB
• 0001601046-24-000159.txt ( ) — 18938KB
• keys-20241031.xsd (EX-101.SCH) — 105KB
• keys-20241031_cal.xml (EX-101.CAL) — 110KB
• keys-20241031_def.xml (EX-101.DEF) — 701KB
• keys-20241031_lab.xml (EX-101.LAB) — 1487KB
• keys-20241031_pre.xml (EX-101.PRE) — 1143KB
• keys-20241031_htm.xml (XML) — 3432KB

Forward-Looking Statements

Forward-Looking Statements 3 PART I Item 1

Business

Business 3 Item 1A

Risk Factors

Risk Factors 16 Item 1B Unresolved Staff Comments 29 Item 1 C Cybersecurity 29 Item 2

Properties

Properties 31 Item 3

Legal Proceedings

Legal Proceedings 32 Item 4 Mine Safety Disclosures 32 PART II Item 5 Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 33 Item 6 [Reserved] 34 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 106 Item 9A

Controls and Procedures

Controls and Procedures 106 Item 9B Other Information 106 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 PART III Item 10 Directors, Executive Officers and Corporate Governance 106 Item 11

Executive Compensation

Executive Compensation 107 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 107 Item 13 Certain Relationships and Related Transactions, and Director Independence 108 Item 14 Principal Accounting Fees and Services 108 PART IV Item 15 Exhibits and Financial Statement Schedules 108 Item 16 Form 10-K Summary 113

Signatures

Signatures 114 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This report contains forward-looking statements which include but are not limited to predictions, future guidance, projections, beliefs, and expectations about the company's trends, seasonality, cyclicality and growth in, and drivers of, the markets we sell into, our strategic direction, earnings from our foreign subsidiaries, remediation activities, new solution and service introductions, the ability of our solutions to meet market needs, changes to our manufacturing processes, the use of contract manufacturers, the impact of government regulations on our ability to conduct operations, our liquidity position, our ability to generate cash from operations, growth in our businesses, our investments, the potential impact of adopting new accounting pronouncements, our financial results, our purchase commitments, our contributions to our pension plans, the selection of discount rates and recognition of any gains or losses for our benefit plans, our cost-control activities, savings and headcount reduction recognized from our restructuring programs and other cost saving initiatives, and other regulatory approvals, the integration of our completed acquisitions and other transactions, and our transition to lower-cost regions. The forward-looking statements involve risks and uncertainties that could cause Keysight's results to differ materially from management's current expectations. Such risks and uncertainties include, but are not limited to, the impact of global economic conditions such as inflation or potential recession, slowing demand for products or services, volatility in financial markets, reduced access to credit, changes in interest rates, the existence of political or economic instability, uncertainty related to the impact of national elections results in the U.S. and UK, impacts of geopolitical tension and conflict in regions outside of the U.S., the impacts of increased trade tension and tightening of export control regulations, the i

Business

Item 1. Business Overview Keysight Technologies, Inc. ("we," "us," "Keysight" or the "company"), incorporated in Delaware on December 6, 2013, is a global innovator in the computing, communications and electronics market, committed to advancing our customers' business success by helping them solve critical challenges in the development and commercialization of their products and services. Our mission, "accelerating innovation to connect and secure the world," speaks to the value we provide our customers in a world of ever-increasing technological complexity. We deliver this value through a broad range of design and test solutions that address the critical challenges our customers face in bringing their innovations to market on ever-shorter schedules. Keysight's portfolio of hardware, software, and services enables our customers' engineering workflows as they design, manufacture, deploy, and optimize their products and solutions. Our revenue is derived primarily from solutions addressing research and development ("R&D") applications, and to a lesser degree, applications in manufacturing and operations. The accelerating pace of technological innovation and engineering intensity are long-term secular drivers of demand for Keysight's solutions and services. We serve a global set of customers in over 100 countries across a wide range of industry segments, including communications, aerospace defense, government, automotive, energy, industrial, general electronics, and semiconductor. We generated $5.0 billion, $5.5 billion and $5.4 billion of revenue in 2024, 2023 and 2022, respectively. Revenue, income from operations and assets by business segment as of and for the fiscal years ended October 31, 2024, 2023 and 2022, are provided in Note 16, "Segment Information," to our consolidated financial statements. Keysight Leadership Model We trace our heritage back over 80 years to the beginning of Silicon Valley. The fundamental elements of our culture are represented in

View Full Filing

View this 10-K filing on SEC EDGAR