Intrinsic value of Keysight Technologies - KEYS

Previous Close

$62.02

  Intrinsic Value

$95.38

stock screener

  Rating & Target

str. buy

+54%

Previous close

$62.02

 
Intrinsic value

$95.38

 
Up/down potential

+54%

 
Rating

str. buy

We calculate the intrinsic value of KEYS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 11.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  31.50
  28.85
  26.47
  24.32
  22.39
  20.65
  19.08
  17.67
  16.41
  15.27
  14.24
  13.32
  12.48
  11.74
  11.06
  10.46
  9.91
  9.42
  8.98
  8.58
  8.22
  7.90
  7.61
  7.35
  7.11
  6.90
  6.71
  6.54
  6.39
  6.25
Revenue, $m
  4,194
  5,403
  6,833
  8,495
  10,397
  12,544
  14,937
  17,578
  20,462
  23,585
  26,944
  30,532
  34,344
  38,374
  42,619
  47,075
  51,741
  56,615
  61,697
  66,991
  72,498
  78,225
  84,178
  90,364
  96,792
  103,474
  110,419
  117,641
  125,155
  132,975
Variable operating expenses, $m
  3,524
  4,462
  5,571
  6,859
  8,333
  9,997
  11,853
  13,899
  16,135
  18,556
  20,886
  23,667
  26,622
  29,747
  33,037
  36,492
  40,108
  43,886
  47,826
  51,929
  56,199
  60,638
  65,253
  70,048
  75,031
  80,210
  85,594
  91,192
  97,017
  103,079
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  3,524
  4,462
  5,571
  6,859
  8,333
  9,997
  11,853
  13,899
  16,135
  18,556
  20,886
  23,667
  26,622
  29,747
  33,037
  36,492
  40,108
  43,886
  47,826
  51,929
  56,199
  60,638
  65,253
  70,048
  75,031
  80,210
  85,594
  91,192
  97,017
  103,079
Operating income, $m
  669
  941
  1,263
  1,636
  2,064
  2,546
  3,085
  3,678
  4,327
  5,029
  6,058
  6,864
  7,721
  8,627
  9,582
  10,584
  11,633
  12,728
  13,871
  15,061
  16,300
  17,587
  18,925
  20,316
  21,761
  23,264
  24,825
  26,449
  28,138
  29,896
EBITDA, $m
  1,123
  1,447
  1,830
  2,276
  2,785
  3,360
  4,001
  4,709
  5,481
  6,318
  7,218
  8,179
  9,200
  10,279
  11,417
  12,610
  13,860
  15,166
  16,527
  17,945
  19,420
  20,955
  22,549
  24,206
  25,928
  27,718
  29,578
  31,513
  33,526
  35,620
Interest expense (income), $m
  64
  111
  172
  246
  334
  436
  552
  683
  830
  992
  1,168
  1,359
  1,565
  1,785
  2,018
  2,265
  2,525
  2,798
  3,083
  3,382
  3,693
  4,017
  4,354
  4,705
  5,069
  5,448
  5,842
  6,251
  6,676
  7,118
  7,578
Earnings before tax, $m
  559
  769
  1,016
  1,302
  1,628
  1,994
  2,401
  2,848
  3,335
  3,861
  4,698
  5,299
  5,937
  6,609
  7,317
  8,059
  8,835
  9,645
  10,489
  11,368
  12,282
  13,233
  14,221
  15,247
  16,313
  17,422
  18,574
  19,773
  21,020
  22,318
Tax expense, $m
  151
  208
  274
  352
  440
  538
  648
  769
  900
  1,042
  1,269
  1,431
  1,603
  1,785
  1,976
  2,176
  2,385
  2,604
  2,832
  3,069
  3,316
  3,573
  3,840
  4,117
  4,405
  4,704
  5,015
  5,339
  5,675
  6,026
Net income, $m
  408
  561
  742
  951
  1,189
  1,456
  1,753
  2,079
  2,435
  2,818
  3,430
  3,868
  4,334
  4,825
  5,341
  5,883
  6,450
  7,041
  7,657
  8,299
  8,966
  9,660
  10,381
  11,130
  11,909
  12,718
  13,559
  14,434
  15,345
  16,292

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  7,795
  10,043
  12,701
  15,790
  19,325
  23,315
  27,765
  32,672
  38,033
  43,839
  50,082
  56,751
  63,836
  71,327
  79,218
  87,501
  96,173
  105,231
  114,679
  124,518
  134,755
  145,401
  156,465
  167,963
  179,912
  192,330
  205,240
  218,664
  232,630
  247,165
Adjusted assets (=assets-cash), $m
  7,795
  10,043
  12,701
  15,790
  19,325
  23,315
  27,765
  32,672
  38,033
  43,839
  50,082
  56,751
  63,836
  71,327
  79,218
  87,501
  96,173
  105,231
  114,679
  124,518
  134,755
  145,401
  156,465
  167,963
  179,912
  192,330
  205,240
  218,664
  232,630
  247,165
Revenue / Adjusted assets
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
  0.538
Average production assets, $m
  1,895
  2,442
  3,089
  3,840
  4,699
  5,670
  6,752
  7,945
  9,249
  10,661
  12,179
  13,800
  15,523
  17,345
  19,264
  21,278
  23,387
  25,590
  27,887
  30,280
  32,769
  35,358
  38,049
  40,845
  43,750
  46,770
  49,909
  53,174
  56,570
  60,105
Working capital, $m
  721
  929
  1,175
  1,461
  1,788
  2,158
  2,569
  3,023
  3,519
  4,057
  4,634
  5,251
  5,907
  6,600
  7,330
  8,097
  8,899
  9,738
  10,612
  11,522
  12,470
  13,455
  14,479
  15,543
  16,648
  17,797
  18,992
  20,234
  21,527
  22,872
Total debt, $m
  3,189
  4,560
  6,182
  8,066
  10,222
  12,656
  15,370
  18,364
  21,634
  25,176
  28,984
  33,052
  37,374
  41,944
  46,757
  51,809
  57,099
  62,625
  68,388
  74,390
  80,635
  87,128
  93,878
  100,891
  108,180
  115,755
  123,630
  131,819
  140,338
  149,205
Total liabilities, $m
  4,755
  6,126
  7,748
  9,632
  11,788
  14,222
  16,936
  19,930
  23,200
  26,742
  30,550
  34,618
  38,940
  43,510
  48,323
  53,375
  58,665
  64,191
  69,954
  75,956
  82,201
  88,694
  95,444
  102,457
  109,746
  117,321
  125,196
  133,385
  141,904
  150,771
Total equity, $m
  3,040
  3,917
  4,954
  6,158
  7,537
  9,093
  10,828
  12,742
  14,833
  17,097
  19,532
  22,133
  24,896
  27,818
  30,895
  34,125
  37,507
  41,040
  44,725
  48,562
  52,555
  56,706
  61,021
  65,506
  70,166
  75,009
  80,043
  85,279
  90,726
  96,394
Total liabilities and equity, $m
  7,795
  10,043
  12,702
  15,790
  19,325
  23,315
  27,764
  32,672
  38,033
  43,839
  50,082
  56,751
  63,836
  71,328
  79,218
  87,500
  96,172
  105,231
  114,679
  124,518
  134,756
  145,400
  156,465
  167,963
  179,912
  192,330
  205,239
  218,664
  232,630
  247,165
Debt-to-equity ratio
  1.050
  1.160
  1.250
  1.310
  1.360
  1.390
  1.420
  1.440
  1.460
  1.470
  1.480
  1.490
  1.500
  1.510
  1.510
  1.520
  1.520
  1.530
  1.530
  1.530
  1.530
  1.540
  1.540
  1.540
  1.540
  1.540
  1.540
  1.550
  1.550
  1.550
Adjusted equity ratio
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390
  0.390

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  408
  561
  742
  951
  1,189
  1,456
  1,753
  2,079
  2,435
  2,818
  3,430
  3,868
  4,334
  4,825
  5,341
  5,883
  6,450
  7,041
  7,657
  8,299
  8,966
  9,660
  10,381
  11,130
  11,909
  12,718
  13,559
  14,434
  15,345
  16,292
Depreciation, amort., depletion, $m
  454
  506
  568
  639
  721
  814
  917
  1,030
  1,155
  1,289
  1,160
  1,314
  1,478
  1,652
  1,835
  2,026
  2,227
  2,437
  2,656
  2,884
  3,121
  3,367
  3,624
  3,890
  4,167
  4,454
  4,753
  5,064
  5,388
  5,724
Funds from operations, $m
  862
  1,068
  1,310
  1,590
  1,910
  2,270
  2,670
  3,110
  3,589
  4,107
  4,590
  5,183
  5,812
  6,477
  7,176
  7,910
  8,677
  9,478
  10,313
  11,183
  12,087
  13,027
  14,005
  15,020
  16,075
  17,172
  18,312
  19,498
  20,732
  22,016
Change in working capital, $m
  173
  208
  246
  286
  327
  369
  412
  454
  496
  537
  578
  617
  656
  693
  730
  766
  802
  838
  874
  910
  947
  985
  1,024
  1,064
  1,106
  1,149
  1,195
  1,242
  1,292
  1,345
Cash from operations, $m
  689
  860
  1,064
  1,304
  1,583
  1,900
  2,258
  2,655
  3,093
  3,570
  4,012
  4,566
  5,156
  5,783
  6,446
  7,143
  7,874
  8,640
  9,439
  10,272
  11,140
  12,042
  12,981
  13,956
  14,970
  16,023
  17,118
  18,256
  19,440
  20,671
Maintenance CAPEX, $m
  -137
  -181
  -233
  -294
  -366
  -448
  -540
  -643
  -757
  -881
  -1,015
  -1,160
  -1,314
  -1,478
  -1,652
  -1,835
  -2,026
  -2,227
  -2,437
  -2,656
  -2,884
  -3,121
  -3,367
  -3,624
  -3,890
  -4,167
  -4,454
  -4,753
  -5,064
  -5,388
New CAPEX, $m
  -454
  -547
  -646
  -751
  -860
  -970
  -1,082
  -1,193
  -1,304
  -1,412
  -1,518
  -1,622
  -1,723
  -1,822
  -1,919
  -2,014
  -2,109
  -2,203
  -2,297
  -2,393
  -2,490
  -2,589
  -2,691
  -2,796
  -2,906
  -3,020
  -3,139
  -3,265
  -3,396
  -3,535
Cash from investing activities, $m
  -591
  -728
  -879
  -1,045
  -1,226
  -1,418
  -1,622
  -1,836
  -2,061
  -2,293
  -2,533
  -2,782
  -3,037
  -3,300
  -3,571
  -3,849
  -4,135
  -4,430
  -4,734
  -5,049
  -5,374
  -5,710
  -6,058
  -6,420
  -6,796
  -7,187
  -7,593
  -8,018
  -8,460
  -8,923
Free cash flow, $m
  98
  132
  185
  259
  357
  482
  636
  819
  1,033
  1,277
  1,479
  1,784
  2,119
  2,483
  2,875
  3,294
  3,739
  4,210
  4,705
  5,224
  5,766
  6,333
  6,923
  7,536
  8,174
  8,837
  9,524
  10,238
  10,979
  11,749
Issuance/(repayment) of debt, $m
  1,141
  1,372
  1,621
  1,884
  2,156
  2,434
  2,714
  2,993
  3,270
  3,542
  3,808
  4,068
  4,322
  4,570
  4,813
  5,053
  5,290
  5,526
  5,763
  6,002
  6,245
  6,494
  6,749
  7,014
  7,289
  7,575
  7,875
  8,189
  8,519
  8,866
Issuance/(repurchase) of shares, $m
  322
  316
  295
  254
  190
  100
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,463
  1,688
  1,916
  2,138
  2,346
  2,534
  2,714
  2,993
  3,270
  3,542
  3,808
  4,068
  4,322
  4,570
  4,813
  5,053
  5,290
  5,526
  5,763
  6,002
  6,245
  6,494
  6,749
  7,014
  7,289
  7,575
  7,875
  8,189
  8,519
  8,866
Total cash flow (excl. dividends), $m
  1,561
  1,820
  2,101
  2,397
  2,704
  3,017
  3,350
  3,813
  4,303
  4,819
  5,287
  5,852
  6,441
  7,053
  7,688
  8,347
  9,029
  9,735
  10,467
  11,225
  12,011
  12,826
  13,672
  14,550
  15,463
  16,412
  17,399
  18,427
  19,499
  20,616
Retained Cash Flow (-), $m
  -730
  -877
  -1,037
  -1,205
  -1,379
  -1,556
  -1,735
  -1,914
  -2,091
  -2,264
  -2,435
  -2,601
  -2,763
  -2,922
  -3,077
  -3,230
  -3,382
  -3,533
  -3,684
  -3,837
  -3,993
  -4,152
  -4,315
  -4,484
  -4,660
  -4,843
  -5,035
  -5,236
  -5,447
  -5,669
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  831
  943
  1,064
  1,192
  1,325
  1,461
  1,615
  1,899
  2,212
  2,555
  2,852
  3,251
  3,678
  4,131
  4,611
  5,116
  5,647
  6,202
  6,783
  7,388
  8,019
  8,675
  9,357
  10,066
  10,803
  11,569
  12,364
  13,192
  14,052
  14,947
Discount rate, %
  5.80
  6.09
  6.39
  6.71
  7.05
  7.40
  7.77
  8.16
  8.57
  9.00
  9.45
  9.92
  10.42
  10.94
  11.48
  12.06
  12.66
  13.29
  13.96
  14.66
  15.39
  16.16
  16.97
  17.81
  18.71
  19.64
  20.62
  21.65
  22.74
  23.87
PV of cash for distribution, $m
  785
  837
  884
  920
  943
  952
  956
  1,014
  1,055
  1,079
  1,057
  1,045
  1,014
  966
  903
  828
  744
  656
  567
  479
  397
  321
  255
  197
  149
  109
  78
  55
  37
  24
Current shareholders' claim on cash, %
  97.3
  95.3
  93.9
  93.0
  92.4
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2
  92.2

Keysight Technologies, Inc. is a measurement company engaged in providing electronic design and test solutions to communications and electronics industries. The Company provides electronic design and test instruments and systems and related software, software design tools and related services that are used in the design, development, manufacture, installation, deployment and operation of electronics equipment. The Company operates through three segments: Communications Solutions Group (CSG), Electronic Industrial Solutions Group (EISG) and Services Solutions Group (SSG). The CSG and EISG segments provide electronic design and test software, instruments, and systems used in the simulation, design, validation, manufacturing, installation and optimization of electronic equipment. The SSG segment provides integrated service solutions, including repair and calibration services, professional services and remanufactured equipment.

FINANCIAL RATIOS  of  Keysight Technologies (KEYS)

Valuation Ratios
P/E Ratio 112.9
Price to Sales 3.6
Price to Book 5
Price to Tangible Book
Price to Cash Flow 36.8
Price to Free Cash Flow 47.8
Growth Rates
Sales Growth Rate 9.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -20.9%
Cap. Spend. - 3 Yr. Gr. Rate 0.6%
Financial Strength
Quick Ratio 74
Current Ratio 0.3
LT Debt to Equity 88.4%
Total Debt to Equity 88.9%
Interest Coverage 4
Management Effectiveness
Return On Assets 2.8%
Ret/ On Assets - 3 Yr. Avg. 10.2%
Return On Total Capital 2.9%
Ret/ On T. Cap. - 3 Yr. Avg. 13.4%
Return On Equity 5.3%
Return On Equity - 3 Yr. Avg. 26.2%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 53.4%
Gross Margin - 3 Yr. Avg. 54.9%
EBITDA Margin 14.7%
EBITDA Margin - 3 Yr. Avg. 17.3%
Operating Margin 7.5%
Oper. Margin - 3 Yr. Avg. 12.2%
Pre-Tax Margin 5.6%
Pre-Tax Margin - 3 Yr. Avg. 10.6%
Net Profit Margin 3.2%
Net Profit Margin - 3 Yr. Avg. 10.9%
Effective Tax Rate 43%
Eff/ Tax Rate - 3 Yr. Avg. 6.4%
Payout Ratio 0%

KEYS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KEYS stock intrinsic value calculation we used $3189 million for the last fiscal year's total revenue generated by Keysight Technologies. The default revenue input number comes from 0001 income statement of Keysight Technologies. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KEYS stock valuation model: a) initial revenue growth rate of 31.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.8%, whose default value for KEYS is calculated based on our internal credit rating of Keysight Technologies, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Keysight Technologies.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KEYS stock the variable cost ratio is equal to 86.1%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KEYS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Keysight Technologies.

Corporate tax rate of 27% is the nominal tax rate for Keysight Technologies. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KEYS stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KEYS are equal to 45.2%.

Life of production assets of 10.5 years is the average useful life of capital assets used in Keysight Technologies operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KEYS is equal to 17.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2310 million for Keysight Technologies - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 187.919 million for Keysight Technologies is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Keysight Technologies at the current share price and the inputted number of shares is $11.7 billion.

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COMPANY NEWS

▶ IBD Stock Of The Day: This Firm Rides 3D Sensor, 5G Wireless Markets   [Oct-01-18 04:34PM  Investor's Business Daily]
▶ Stocks Slump as Trade Talks Cancelled   [Sep-25-18 09:15AM  Zacks]
▶ Keysight Technologies Certified by Great Place to Work   [Aug-23-18 01:21PM  Business Wire]
▶ Keysight: Fiscal 3Q Earnings Snapshot   [04:29PM  Associated Press]
▶ Keysight Technologies Acquires Thales Calibration Services   [Aug-13-18 11:00AM  Business Wire]
▶ Trade War Threatens Small-Cap Stock Juggernaut   [Jul-27-18 08:00AM  Investopedia]
▶ Why Keysight Technologies Shares Jumped Today   [May-31-18 01:03PM  Motley Fool]
▶ Keysight: Fiscal 2Q Earnings Snapshot   [04:21PM  Associated Press]
▶ Here's a RED HOT Tamale in a Flat Stock Market   [Apr-25-18 02:44PM  Zacks]

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