KEYS
Keysight Technologies, Inc.
KEYS's outlook is improving, though it still trails on the overall score.
NVDA
NVIDIA Corporation
NVDA has the edge over KEYS overall, supported by stronger valuation and stronger modeled upside.
KEYS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
KEYS's revenue, profitability, cash flow and balance sheet are all currently strong.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
KEYS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 22x | $304 | — |
| Cheap | 26x | $192 | -37% |
| Fair | 32x | $235 | -23% |
| Current | 42x | $304 | — |
| Expensive | 46x | $339 | +11% |
Historical ranges are pointers, not guarantees.
KEYS's PE is in its expensive range at 42x. If earnings grow as analysts expect, today's price would be 22x next year's earnings, in its cheap range.
NVDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $166 | — |
| Current | 21x | $166 | — |
| Cheap | 44x | $345 | +108% |
| Fair | 65x | $511 | +207% |
| Expensive | 93x | $734 | +342% |
Historical ranges are pointers, not guarantees.
NVDA has the edge over KEYS in the historical PE scenario, which offers more potential upside but is not a forecast.
KEYS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
KEYS has the edge over NVDA on the outlook, with more favorable profitability expectations.
NVDA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for NVDA, but weaker profitability.
KEYS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +89% |
| Q3 2026 | $7.30 | +132% |
| Q2 2026 | $6.10 | +43% |
| Q1 2026 | $5.57 | +59% |
| Q4 2025 | $4.91 | +40% |
| Q3 2025 | $3.15 | -39% |
| Q2 2025 | $4.27 | -6.8% |
| Q1 2025 | $3.50 | -36% |
| Q4 2024 | $3.51 | -41% |
KEYS earned $7.30 per share over the past year, up 132% from the year before.
NVDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +74% |
| Q3 2026 | $7.91 | +125% |
| Q2 2026 | $6.53 | +111% |
| Q1 2026 | $4.90 | +67% |
| Q4 2025 | $4.03 | +59% |
| Q3 2025 | $3.51 | +65% |
| Q2 2025 | $3.10 | +81% |
| Q1 2025 | $2.94 | +147% |
| Q4 2024 | $2.54 | +234% |
NVDA has the edge over KEYS on earnings, with more consistent year-over-year improvement.
KEYS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.8B | +37% |
| Q2 2026 | $1.7B | +31% |
| Q1 2026 | $1.6B | +23% |
| Q4 2025 | $1.4B | +10% |
| Q3 2025 | $1.4B | +11% |
| Q2 2025 | $1.3B | +7.4% |
| Q1 2025 | $1.3B | +3.1% |
| Q4 2024 | $1.3B | -1.8% |
KEYS's revenue has grown year over year for seven quarters in a row: $1.8B last quarter, up 37% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +7.7 points |
| Q2 2026 | 24% | +7.8 points |
| Q1 2026 | 16% | -1.3 points |
| Q4 2025 | 15% | -2.6 points |
| Q3 2025 | 17% | +0.5 points |
| Q2 2025 | 16% | +1.3 points |
| Q1 2025 | 17% | -0.8 points |
| Q4 2024 | 18% | -6.3 points |
KEYS's operating margin was 25% last quarter, up 7.7 points from the same quarter a year ago.
NVDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $96.2B | +106% |
| Q2 2026 | $81.6B | +85% |
| Q1 2026 | $68.1B | +73% |
| Q4 2025 | $57B | +62% |
| Q3 2025 | $46.7B | +56% |
| Q2 2025 | $44.1B | +69% |
| Q1 2025 | $39.3B | +78% |
| Q4 2024 | $35.1B | +94% |
NVDA has the edge over KEYS on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +5.4 points |
| Q2 2026 | 66% | +17 points |
| Q1 2026 | 65% | +3.9 points |
| Q4 2025 | 63% | +0.8 points |
| Q3 2025 | 61% | -1.2 points |
| Q2 2025 | 49% | -16 points |
| Q1 2025 | 61% | -0.5 points |
| Q4 2024 | 62% | +4.9 points |
NVDA has the edge over KEYS on profitability, with a higher operating margin.
KEYS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $403M | +38% |
| Q2 2026 | $472M | +3.3% |
| Q1 2026 | $407M | +18% |
| Q4 2025 | $187M | -42% |
| Q3 2025 | $291M | +31% |
| Q2 2025 | $457M | +518% |
| Q1 2025 | $346M | +23% |
| Q4 2024 | $321M | -5.6% |
KEYS's free cash flow has been positive every quarter for seven years: $1.5B over the past year, up 3.8% from the year before.
NVDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.4B | +59% |
| Q2 2026 | $48.6B | +86% |
| Q1 2026 | $34.9B | +124% |
| Q4 2025 | $22.1B | +32% |
| Q3 2025 | $13.5B | -0.3% |
| Q2 2025 | $26.2B | +75% |
| Q1 2025 | $15.6B | +38% |
| Q3 2024 | $13.5B | +113% |
NVDA has the edge over KEYS on cash flow, with more consistent year-over-year improvement.
KEYS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | -3.4% | -6M shares |
| 5 years | -7% | -13M shares |
| Available history | -9.4% | -18M shares |
KEYS has 173M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $210M |
| Q2 2026 | $220M |
| Q1 2026 | $87M |
| Q4 2025 | $100M |
| Q3 2025 | $50M |
| Q2 2025 | $150M |
| Q1 2025 | $75M |
| Q4 2024 | $150M |
KEYS spent $617M buying back its own shares over the past year, up 45% from the year before.
NVDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -106M shares |
| 1 year | -1% | -247M shares |
| 3 years | -2.8% | -705M shares |
| 5 years | -4.1% | -1B shares |
| Available history | -1.8% | -435M shares |
NVDA has the edge over KEYS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7B |
| Q2 2026 | $19.3B |
| Q1 2026 | $3.8B |
| Q4 2025 | $12.5B |
| Q3 2025 | $9.7B |
| Q2 2025 | $14.1B |
| Q1 2025 | $7.8B |
| Q4 2024 | $11B |
NVDA spent $55.3B buying back its own shares over the past year, up 30% from the year before.
KEYS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.5x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | -0.0x | Net Cash |
KEYS has the edge over NVDA on leverage, with a lower net debt burden relative to earnings.
NVDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
NVDA's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
KEYS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.5 | Neutral |
| Stochastic | 20.0 | Neutral |
KEYS's weekly RSI is 46 (neutral) and its Stochastic is 20 (neutral).
NVDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 18.1 | Oversold |
NVDA's weekly RSI is 33 (neutral) and its Stochastic is 18 (oversold).
KEYS PE vs Technology Sector
| Metric | KEYS | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 28x | 50% above |
| PE % | 71 | 35 | 36 pts above |
KEYS is trading at 42x earnings, a 50% premium to the Technology sector's median of 28x.
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA has the edge over KEYS on valuation relative to its sector.
KEYS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $332.4 | 8.5% below |
| 20 week MA | $329.2 | 7.6% below |
| 50 week MA | $300.2 | 1.3% above |
| 100 week MA | $232.0 | 31% above |
| 200 week MA | $191.4 | 59% above |
KEYS has the edge over NVDA on trend strength, trading above more of its moving averages.
NVDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $208.9 | 20% below |
| 20 week MA | $212.0 | 22% below |
| 50 week MA | $199.9 | 17% below |
| 100 week MA | $175.1 | 5.1% below |
| 200 week MA | $123.6 | 34% above |
NVDA has fallen below most of its moving averages, though it's still 34% above its 200-week average.
KEYS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $103.2 | $131.0 | +27% |
| 2021 | $131.0 | $201.4 | +54% |
| 2022 | $201.4 | $169.8 | -16% |
| 2023 | $169.8 | $159.1 | -6.3% |
| 2024 | $159.1 | $162.9 | +2.4% |
| 2025 | $162.9 | $206.0 | +26% |
| 2026 YTD | $206.0 | $304.2 | +48% |
KEYS has the edge over NVDA on returns for 2026, with the stronger performance.
NVDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.92 | $13.0 | +119% |
| 2021 | $13.0 | $29.6 | +128% |
| 2022 | $29.6 | $15.2 | -49% |
| 2023 | $15.2 | $49.5 | +226% |
| 2024 | $49.5 | $137.0 | +177% |
| 2025 | $137.0 | $190.5 | +39% |
| 2026 YTD | $190.5 | $166.2 | -13% |
NVDA's yearly returns have swung widely, from +226% in 2023 to −49% in 2022. It's down 13% so far in 2026.