KEYS
Keysight Technologies, Inc.
KEYS has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over KEYS overall, supported by stronger valuation and stronger fundamentals.
KEYS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
KEYS's revenue, profitability, cash flow and balance sheet are all currently strong.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK'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.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK 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 |
Analysts expect earnings and revenue growth for KEYS, with profitability improving.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
Analysts expect strong earnings and revenue growth for SNDK, with profitability improving.
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.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over KEYS in the latest year-over-year earnings comparison.
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.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK has the edge over KEYS on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK 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.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK generated $17.4B in free cash flow over the past year, more than ten times what it generated the year before.
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 the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| 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.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
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 more cash than debt.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has the edge over KEYS on leverage, with a lower net debt burden relative to earnings.
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).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (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.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK 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 stronger trend alignment. KEYS is above 3 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-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 finished higher in four of the last six years. It's up 48% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over KEYS on returns for 2026, with the stronger performance.