KEYS
Keysight Technologies, Inc.
Hardware, Equipment & Parts
Market Cap$62.89B
5Y Perf.+239.1%
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Stock Comparison
KEYS vs COHR
Revenue, margins, valuation, and 5-year total return — side by side.
COHR
Coherent, Inc.
Hardware, Equipment & Parts
Market Cap$54.66B
5Y Perf.+625.2%
KEYS vs COHR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | KEYS | COHR |
|---|---|---|
| Industry | Hardware, Equipment & Parts | Hardware, Equipment & Parts |
| Market Cap | $62.89B | $54.66B |
| Revenue (TTM) | $5.68B | $1.81T |
| Net Income (TTM) | $958M | $191.68B |
| Gross Margin | 61.9% | 0.1% |
| Operating Margin | 16.0% | 0.0% |
| Forward P/E | 41.2x | 64.2x |
| Total Debt | $2.97B | $3.89B |
| Cash & Equiv. | $1.87B | $909M |
KEYS vs COHR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
KEYS
COHR
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Keysight Technologi… (KEYS) | 100 | 339.1 | +239.1% |
| Coherent, Inc. (COHR) | 100 | 725.2 | +625.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: KEYS vs COHR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: KEYS leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. Coherent, Inc. is the stronger pick specifically for growth and revenue expansion and dividend income and shareholder returns. As sector peers, any of these can serve as alternatives in the same allocation.
KEYS
Keysight Technologies, Inc.
The Income Pick
KEYS carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- beta 1.71
- Lower volatility, beta 1.71, Low D/E 50.6%, current ratio 2.35x
- Beta 1.71, current ratio 2.35x
Best for: income & stability and sleep-well-at-night
COHR
Coherent, Inc.
The Growth Play
COHR is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth 23.4%, EPS growth 71.7%, 3Y rev CAGR 20.5%
- 15.7% 10Y total return vs KEYS's 13.1%
- 23.4% revenue growth vs KEYS's 8.0%
Best for: growth exposure and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | COHR | 23.4% revenue growth vs KEYS's 8.0% |
| Value | KEYS | Lower P/E (41.2x vs 64.2x) |
| Quality / Margins | KEYS | 16.9% margin vs COHR's 10.6% |
| Stability / Safety | KEYS | Beta 1.71 vs COHR's 2.79 |
| Dividends | COHR | 0.0% yield; the other pay no meaningful dividend |
| Momentum (1Y) | COHR | +393.9% vs KEYS's +150.2% |
| Efficiency (ROA) | KEYS | 8.3% ROA vs COHR's 4.4%, ROIC 11.5% vs 3.6% |
KEYS vs COHR — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
KEYS vs COHR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLKEYSLAGGINGCOHR
COHRCoherent, Inc.
2leads
KEYSKeysight Technologies…
3leads
6 Total Categories
CATEGORYLEADERvs COHRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
KEYS4/6
Valuation MetricsMultiples, price ratios, and targets
COHR4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
KEYS7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
COHR5/6
Risk & VolatilityBeta, volatility, and downside exposure
KEYS2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
KEYS leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
COHR is the larger business by revenue, generating $1.81T annually — 318.9x KEYS's $5.7B. KEYS is the more profitable business, keeping 16.9% of every revenue dollar as net income compared to COHR's 10.6%. On growth, COHR holds the edge at +1204.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | KEYSKeysight Technolo… | COHRCoherent, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $5.7B | $1.81T |
| EBITDAEarnings before interest/tax | $1.2B | $913M |
| Net IncomeAfter-tax profit | $958M | $191.7B |
| Free Cash FlowCash after capex | $1.5B | -$537.2B |
| Gross MarginGross profit ÷ Revenue | +61.9% | +0.1% |
| Operating MarginEBIT ÷ Revenue | +16.0% | +0.0% |
| Net MarginNet income ÷ Revenue | +16.9% | +10.6% |
| FCF MarginFCF ÷ Revenue | +25.8% | -29.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +23.3% | +1204.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +68.0% | +9.8% |
KEYS leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
COHR leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, COHR's 52.3x EV/EBITDA is more attractive than KEYS's 52.3x.
| Metric | KEYSKeysight Technolo… | COHRCoherent, Inc. |
|---|---|---|
| Market CapShares × price | $62.9B | $54.7B |
| Enterprise ValueMkt cap + debt − cash | $64.0B | $57.6B |
| Trailing P/EPrice ÷ TTM EPS | 75.14x | -662.83x |
| Forward P/EPrice ÷ next-FY EPS est. | 41.17x | 64.23x |
| PEG RatioP/E ÷ EPS growth rate | 9.38x | — |
| EV / EBITDAEnterprise value multiple | 52.32x | 52.28x |
| Price / SalesMarket cap ÷ Revenue | 11.70x | 9.41x |
| Price / BookPrice ÷ Book value/share | 10.79x | 6.29x |
| Price / FCFMarket cap ÷ FCF | 49.10x | 283.54x |
COHR leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
KEYS leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
KEYS delivers a 15.4% return on equity — every $100 of shareholder capital generates $15 in annual profit, vs $7 for COHR. COHR carries lower financial leverage with a 0.46x debt-to-equity ratio, signaling a more conservative balance sheet compared to KEYS's 0.51x. On the Piotroski fundamental quality scale (0–9), COHR scores 7/9 vs KEYS's 5/9, reflecting strong financial health.
| Metric | KEYSKeysight Technolo… | COHRCoherent, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +15.4% | +6.9% |
| ROA (TTM)Return on assets | +8.3% | +4.4% |
| ROICReturn on invested capital | +11.5% | +3.6% |
| ROCEReturn on capital employed | +11.0% | +4.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 0.51x | 0.46x |
| Net DebtTotal debt minus cash | $1.1B | $3.0B |
| Cash & Equiv.Liquid assets | $1.9B | $909M |
| Total DebtShort + long-term debt | $3.0B | $3.9B |
| Interest CoverageEBIT ÷ Interest expense | 11.03x | 0.01x |
KEYS leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
COHR leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in COHR five years ago would be worth $57,531 today (with dividends reinvested), compared to $25,676 for KEYS. Over the past 12 months, COHR leads with a +393.9% total return vs KEYS's +150.2%. The 3-year compound annual growth rate (CAGR) favors COHR at 120.5% vs KEYS's 36.8% — a key indicator of consistent wealth creation.
| Metric | KEYSKeysight Technolo… | COHRCoherent, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +77.5% | +77.4% |
| 1-Year ReturnPast 12 months | +150.2% | +393.9% |
| 3-Year ReturnCumulative with dividends | +156.2% | +972.1% |
| 5-Year ReturnCumulative with dividends | +156.8% | +475.3% |
| 10-Year ReturnCumulative with dividends | +1311.4% | +1573.2% |
| CAGR (3Y)Annualised 3-year return | +36.8% | +120.5% |
COHR leads this category, winning 5 of 6 comparable metrics.
Risk & Volatility
KEYS leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
KEYS is the less volatile stock with a 1.71 beta — it tends to amplify market swings less than COHR's 2.79 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. KEYS currently trades 100.0% from its 52-week high vs COHR's 94.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | KEYSKeysight Technolo… | COHRCoherent, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.71x | 2.79x |
| 52-Week HighHighest price in past year | $366.74 | $364.80 |
| 52-Week LowLowest price in past year | $145.51 | $66.71 |
| % of 52W HighCurrent price vs 52-week peak | +100.0% | +94.5% |
| RSI (14)Momentum oscillator 0–100 | 71.0 | 61.7 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 6.7M |
KEYS leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates KEYS as "Buy" and COHR as "Buy". Consensus price targets imply -21.1% upside for KEYS (target: $289) vs -26.7% for COHR (target: $253).
| Metric | KEYSKeysight Technolo… | COHRCoherent, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $289.25 | $252.50 |
| # AnalystsCovering analysts | 15 | 29 |
| Dividend YieldAnnual dividend ÷ price | — | +0.0% |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | $0.07 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.6% | +0.1% |
Insufficient data to determine a leader in this category.
Key Takeaway
KEYS leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). COHR leads in 2 (Valuation Metrics, Total Returns).
Best OverallKeysight Technologies, Inc. (KEYS)Leads 3 of 6 categories
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KEYS vs COHR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is KEYS or COHR a better buy right now?
For growth investors, Coherent, Inc.
(COHR) is the stronger pick with 23. 4% revenue growth year-over-year, versus 8. 0% for Keysight Technologies, Inc. (KEYS). Keysight Technologies, Inc. (KEYS) offers the better valuation at 75. 1x trailing P/E (41. 2x forward), making it the more compelling value choice. Analysts rate Keysight Technologies, Inc. (KEYS) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — KEYS or COHR?
On forward P/E, Keysight Technologies, Inc.
is actually cheaper at 41. 2x.
03Which is the better long-term investment — KEYS or COHR?
Over the past 5 years, Coherent, Inc.
(COHR) delivered a total return of +475. 3%, compared to +156. 8% for Keysight Technologies, Inc. (KEYS). Over 10 years, the gap is even starker: COHR returned +1573% versus KEYS's +1311%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — KEYS or COHR?
By beta (market sensitivity over 5 years), Keysight Technologies, Inc.
(KEYS) is the lower-risk stock at 1. 71β versus Coherent, Inc. 's 2. 79β — meaning COHR is approximately 63% more volatile than KEYS relative to the S&P 500. On balance sheet safety, Coherent, Inc. (COHR) carries a lower debt/equity ratio of 46% versus 51% for Keysight Technologies, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — KEYS or COHR?
By revenue growth (latest reported year), Coherent, Inc.
(COHR) is pulling ahead at 23. 4% versus 8. 0% for Keysight Technologies, Inc. (KEYS). On earnings-per-share growth, the picture is similar: Coherent, Inc. grew EPS 71. 7% year-over-year, compared to 39. 0% for Keysight Technologies, Inc.. Over a 3-year CAGR, COHR leads at 20. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — KEYS or COHR?
Keysight Technologies, Inc.
(KEYS) is the more profitable company, earning 15. 7% net margin versus 0. 8% for Coherent, Inc. — meaning it keeps 15. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KEYS leads at 17. 6% versus 9. 4% for COHR. At the gross margin level — before operating expenses — KEYS leads at 62. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is KEYS or COHR more undervalued right now?
On forward earnings alone, Keysight Technologies, Inc.
(KEYS) trades at 41. 2x forward P/E versus 64. 2x for Coherent, Inc. — 23. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for KEYS: -21. 1% to $289. 25.
08Which pays a better dividend — KEYS or COHR?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
09Is KEYS or COHR better for a retirement portfolio?
For long-horizon retirement investors, Keysight Technologies, Inc.
(KEYS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+1311% 10Y return). Coherent, Inc. (COHR) carries a higher beta of 2. 79 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (KEYS: +1311%, COHR: +1573%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between KEYS and COHR?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: KEYS is a mid-cap quality compounder stock; COHR is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(KEYS: 23.3% · COHR: 120446.5%)Net Margin>
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