Keysight Technologies Inc. (KEYS) vs Teledyne Technologies Incorporated (TDY)

Keysight Technologies Inc. and Teledyne Technologies Incorporated are both Scientific & Technical Instruments companies. Keysight Technologies Inc. is the larger, with a market value of $61.0B against $28.4B — 2.2× the size. Teledyne Technologies Incorporated trades at the lower P/E: 29.7× against 49.3×. Keysight Technologies Inc. grew revenue faster over the last twelve months: 25.5% against 7.87%. Keysight Technologies Inc. has the higher net margin (19.1% vs 15.3%) and the higher return on invested capital (12.9% vs 6.15%). Across the 22 metrics below, Teledyne Technologies Incorporated leads on 12 and Keysight Technologies Inc. on 10.

Valuation

Metric KEYS TDY Scientific & Technical Instruments median
P/E 49.27 29.65 35.93
P/S 9.41 4.46 4.46
P/B 9.42 2.60 3.00
Price to free cash flow 41.51 24.90 24.96
EV/EBITDA 35.83 19.04 19.60
EV/Sales 9.40 4.73 4.98
Earnings yield 2.03% 3.37% 0.53%
Free cash flow yield 2.41% 4.02% 1.12%

Profitability

Metric KEYS TDY Scientific & Technical Instruments median
Gross margin 64.69% 43.34% 45.75%
Operating margin 20.25% 19.45% 7.34%
Net margin 19.14% 15.29% 1.56%
Free cash flow margin 22.67% 17.92% 5.84%
Return on equity 20.59% 9.16% 2.87%
Return on assets 11.16% 6.41% 0.99%
Return on invested capital 12.85% 6.15% 3.88%

Growth

Metric KEYS TDY Scientific & Technical Instruments median
Revenue growth (TTM) 25.54% 7.87% 11.28%
EPS growth (last fiscal year) 39.32% 9.70% —
Revenue growth, 5-year CAGR 4.95% 14.66% 7.89%
Net income growth, 5-year CAGR 6.27% 17.36% 0.00%

Health

Metric KEYS TDY Scientific & Technical Instruments median
Debt to equity 0.38 0.19 0.00
Current ratio 2.02 2.18 2.24
Net debt to EBITDA 0.57 1.43 0.44

Dividend

Metric KEYS TDY Scientific & Technical Instruments median
Dividend yield — — 0.72%
Payout ratio 0.00 0.00 0.00

Size

Metric KEYS TDY Scientific & Technical Instruments median
Market cap 61.04b 28.37b 483.67m

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