KEYSIGHT TECHNOLOGIES, INC. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $5.4B |
| Gross margin | 62.1% |
| Operating income | $876.0M |
| Net income | $850.0M |
| Diluted EPS | $4.91 |
| Cash & equivalents | $1.9B |
| Total assets | $11.3B |
| Long-term debt | $2.5B |
Key takeaway
Revenue grew to $5.375 billion in fiscal 2025 from $5.0 billion in 2024, recovering most of the decline seen from 2023's $5.5 billion.
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Beneath the surface
The late-October 2025 acquisitions of Spirent, OSG, and PowerArtist closed right at fiscal year-end, meaning their revenue/earnings contribution is minimal in FY2025 results but goodwill (+$1.001B) and intangible assets (+$821M acquired) already inflate the balance sheet, setting up higher amortization ahead ($262M expected next twelve months alone).
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