Agilent Technologies, Inc. (A) 10-Year Financial Performance & Capital Metrics

A • • Industrial / General

HealthcareDiagnostics & ResearchLife Sciences Instrumentation & ToolsLaboratory Equipment & Consumables

AboutAgilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The Life Sciences and Applied Markets segment offers liquid chromatography systems and components; liquid chromatography mass spectrometry systems; gas chromatography systems and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; inductively coupled plasma optical emission spectrometry instruments; raman spectroscopy; cell analysis plate based assays; flow cytometer; real-time cell analyzer; cell imaging systems; microplate reader; laboratory software; information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps, and measurement technologies. The Diagnostics and Genomics segment provides arrays for DNA mutation detection, genotyping, gene copy number determination, identification of gene rearrangements, DNA methylation profiling, gene expression profiling, next generation sequencing, target enrichment and genetic data management, and interpretation support software; and produces synthesized oligonucleotide. It also offers immunohistochemistry in situ hybridization, and hematoxylin and eosin staining and special staining; consumables, and software for quality control analysis of nucleic acid samples; and reagents for use in turbidimetry and flow cytometry, as well as develops liquid-based pharmacodiagnostics. The Agilent CrossLab segment provides GC and LC columns, sample preparation products, custom chemistries, and laboratory instrument supplies; and startup, operational, training, compliance support, software as a service, asset management, and consultation services. The company markets its products through direct sales, distributors, resellers, manufacturer's representatives, and electronic commerce. Agilent Technologies, Inc. was incorporated in 1999 and is headquartered in Santa Clara, California.Show more

Revenue $6.95B +6.7%
EBITDA $1.77B +1.3%
Net Income $1.3B +1.1%
EPS (Diluted) 4.57 +3.2%
Gross Margin 52.43% -3.4%
EBITDA Margin 25.43% -5.1%
Operating Margin 21.29% -6.9%
Net Margin 18.75% -5.3%
ROE 20.62% -6.1%
ROIC 13.49% -8.6%
Debt/Equity 0.50 -17.9%
Interest Coverage 13.21 -14.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.6%
✓FCF machine: 16.6% free cash flow margin
✓10 consecutive years of dividend growth
✓Share count reduced 2.4% through buybacks
✓Healthy 5Y average net margin of 18.8%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.58%

5Y5.41%

3Y0.48%

TTM6.73%

Profit (Net Income) CAGR

10Y12.51%

5Y12.63%

3Y1.29%

TTM1.09%

EPS CAGR

10Y14.31%

5Y14.72%

3Y3.02%

TTM3.39%

ROCE

10Y Avg13.66%

5Y Avg15.86%

3Y Avg15.09%

Latest14.55%

Peer Comparison

Laboratory Equipment & Consumables

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
QGENQiagen N.V.	9.97B	48.38	127.32	0.66%	19.58%	11.11%	5.08%	0.40
RVTYRevvity, Inc.	13.08B	115.33	47.85	0.16%	8.47%	3.23%	4.14%	0.43
DHRDanaher Corporation	169.45B	239.89	45.35	-0.06%	14.43%	6.86%	3.13%	0.35
TMOThermo Fisher Scientific Inc.	234.69B	624.65	37.79	0.05%	15.02%	12.84%	3.1%	0.66
WATWaters Corporation	23.5B	394.59	36.84	0.07%	20.89%	27.84%	2.64%	0.93
MTDMettler-Toledo International Inc.	30.57B	1496.61	36.80	2.22%	21.2%		2.83%
AAgilent Technologies, Inc.	41.06B	144.83	31.69	6.73%	18.75%	19.33%	2.81%	0.50
TWSTTwist Bioscience Corporation	2.53B	41.27	-31.75	20.32%	-23.51%	-17.81%		0.16

Profit & Loss

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Sales/Revenue+	4.2B	4.47B	4.91B	5.16B	5.34B	6.32B	6.85B	6.83B	6.51B	6.95B
Revenue Growth %	0.04%	0.06%	0.1%	0.05%	0.03%	0.18%	0.08%	-0%	-0.05%	0.07%
Cost of Goods Sold+	2B	2.06B	2.23B	2.36B	2.5B	2.91B	3.13B	3.37B	2.98B	3.31B
COGS % of Revenue	0.48%	0.46%	0.45%	0.46%	0.47%	0.46%	0.46%	0.49%	0.46%	0.48%
Gross Profit+	2.2B	2.41B	2.69B	2.81B	2.84B	3.41B	3.72B	3.46B	3.54B	3.64B
Gross Margin %	0.52%	0.54%	0.55%	0.54%	0.53%	0.54%	0.54%	0.51%	0.54%	0.52%
Gross Profit Growth %	0.08%	0.1%	0.12%	0.04%	0.01%	0.2%	0.09%	-0.07%	0.02%	0.03%
Operating Expenses+	1.58B	1.57B	1.78B	1.86B	1.99B	2.06B	2.1B	2.12B	2.05B	2.16B
OpEx % of Revenue	0.38%	0.35%	0.36%	0.36%	0.37%	0.33%	0.31%	0.31%	0.31%	0.31%
Selling, General & Admin	1.25B	1.23B	1.37B	1.46B	1.5B	1.62B	1.64B	1.63B	1.52B	1.71B
SG&A % of Revenue	0.3%	0.27%	0.28%	0.28%	0.28%	0.26%	0.24%	0.24%	0.23%	0.25%
Research & Development	329M	339M	385M	404M	495M	441M	467M	481M	479M	455M
R&D % of Revenue	0.08%	0.08%	0.08%	0.08%	0.09%	0.07%	0.07%	0.07%	0.07%	0.07%
Other Operating Expenses	0	0	17M	0	0	0	0	0	50M	0
Operating Income+	615M	841M	904M	941M	846M	1.35B	1.62B	1.35B	1.49B	1.48B
Operating Margin %	0.15%	0.19%	0.18%	0.18%	0.16%	0.21%	0.24%	0.2%	0.23%	0.21%
Operating Income Growth %	0.18%	0.37%	0.07%	0.04%	-0.1%	0.59%	0.2%	-0.17%	0.1%	-0.01%
EBITDA+	862M	1.05B	1.11B	1.18B	1.15B	1.67B	1.94B	1.62B	1.75B	1.77B
EBITDA Margin %	0.21%	0.24%	0.23%	0.23%	0.22%	0.26%	0.28%	0.24%	0.27%	0.25%
EBITDA Growth %	0.11%	0.22%	0.06%	0.06%	-0.02%	0.45%	0.16%	-0.16%	0.08%	0.01%
D&A (Non-Cash Add-back)	247M	214M	210M	238M	308M	321M	317M	271M	257M	288M
EBIT	616M	882M	1.02B	993M	920M	1.44B	1.59B	1.43B	1.62B	1.55B
Net Interest Income+	-61M	-57M	-37M	-38M	-70M	-79M	-75M	-44M	-16M	-50M
Interest Income	11M	22M	38M	36M	8M	2M	9M	51M	80M	62M
Interest Expense	72M	79M	75M	74M	78M	81M	84M	95M	96M	112M
Other Income/Expense	-71M	-38M	42M	-22M	-4M	13M	-114M	-11M	33M	-44M
Pretax Income+	544M	803M	946M	919M	842M	1.36B	1.5B	1.34B	1.52B	1.44B
Pretax Margin %	0.13%	0.18%	0.19%	0.18%	0.16%	0.22%	0.22%	0.2%	0.23%	0.21%
Income Tax+	82M	119M	630M	-152M	123M	150M	250M	99M	232M	132M
Effective Tax Rate %	0.85%	0.85%	0.33%	1.17%	0.85%	0.89%	0.83%	0.93%	0.85%	0.91%
Net Income+	460M	684M	316M	1.07B	719M	1.21B	1.25B	1.24B	1.29B	1.3B
Net Margin %	0.11%	0.15%	0.06%	0.21%	0.13%	0.19%	0.18%	0.18%	0.2%	0.19%
Net Income Growth %	0.15%	0.49%	-0.54%	2.39%	-0.33%	0.68%	0.04%	-0.01%	0.04%	0.01%
Net Income (Continuing)	462M	684M	316M	1.07B	719M	1.21B	1.25B	1.24B	1.29B	1.3B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	3M	4M	4M	0	0	0	0	0	0	0
EPS (Diluted)+	1.40	2.10	0.97	3.37	2.30	3.94	4.18	4.19	4.43	4.57
EPS Growth %	0.17%	0.5%	-0.54%	2.47%	-0.32%	0.71%	0.06%	0%	0.06%	0.03%
EPS (Basic)	1.42	2.12	0.98	3.41	2.33	3.98	4.19	4.22	4.44	4.59
Diluted Shares Outstanding	329M	326M	325M	318M	312M	307M	300M	296M	291M	284M
Basic Shares Outstanding	326M	322M	321M	314M	309M	304M	299M	294M	290M	283M
Dividend Payout Ratio	0.33%	0.25%	0.6%	0.19%	0.31%	0.2%	0.2%	0.21%	0.21%	0.22%

Balance Sheet

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Total Current Assets+	3.63B	4.17B	3.85B	3.19B	3.42B	3.8B	3.78B	4.19B	3.96B	4.59B
Cash & Short-Term Investments	2.29B	2.68B	2.25B	1.38B	1.44B	1.57B	1.05B	1.59B	1.33B	1.79B
Cash Only	2.29B	2.68B	2.25B	1.38B	1.44B	1.48B	1.05B	1.59B	1.33B	1.79B
Short-Term Investments	0	0	0	0	0	91M	0	0	0	0
Accounts Receivable	631M	724M	776M	930M	1.04B	1.17B	1.41B	1.29B	1.32B	1.49B
Days Sales Outstanding	54.81	59.09	57.64	65.75	70.96	67.7	74.89	68.96	74.23	78.12
Inventory	533M	575M	638M	679M	720M	830M	1.04B	1.03B	991M	1.02B
Days Inventory Outstanding	97.03	101.73	104.57	105.1	105.04	104.03	121.2	111.73	121.58	113.2
Other Current Assets	182M	192M	187M	198M	216M	222M	282M	274M	315M	293M
Total Non-Current Assets+	4.16B	4.26B	4.69B	6.26B	6.21B	6.91B	6.75B	6.58B	7.89B	8.13B
Property, Plant & Equipment	639M	757M	822M	850M	845M	945M	1.1B	1.42B	1.96B	2.02B
Fixed Asset Turnover	6.58x	5.91x	5.98x	6.07x	6.32x	6.69x	6.23x	4.80x	3.33x	3.43x
Goodwill	2.52B	2.61B	2.97B	3.59B	3.6B	3.98B	3.95B	3.96B	4.47B	4.47B
Intangible Assets	408M	361M	491M	1.11B	831M	981M	821M	475M	547M	445M
Long-Term Investments	135M	138M	68M	102M	158M	185M	195M	164M	175M	133M
Other Non-Current Assets	460M	394M	339M	611M	776M	820M	686M	554M	297M	1.06B
Total Assets+	7.79B	8.43B	8.54B	9.45B	9.63B	10.71B	10.53B	10.76B	11.85B	12.73B
Asset Turnover	0.54x	0.53x	0.58x	0.55x	0.55x	0.59x	0.65x	0.63x	0.55x	0.55x
Asset Growth %	0.04%	0.08%	0.01%	0.11%	0.02%	0.11%	-0.02%	0.02%	0.1%	0.07%
Total Current Liabilities+	945M	1.26B	1.17B	2.08B	1.47B	1.71B	1.86B	1.6B	1.9B	2.35B
Accounts Payable	257M	305M	340M	354M	354M	446M	580M	418M	540M	570M
Days Payables Outstanding	46.79	53.96	55.73	54.8	51.64	55.9	67.72	45.3	66.25	62.95
Short-Term Debt	0	210M	0	616M	75M	0	36M	0	45M	304M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	235M	276M	304M	334M	367M	493M	455M	371M	326M	443M
Current Ratio	3.85x	3.30x	3.29x	1.53x	2.33x	2.22x	2.03x	2.61x	2.09x	1.96x
Quick Ratio	3.28x	2.85x	2.74x	1.21x	1.84x	1.74x	1.47x	1.97x	1.57x	1.52x
Cash Conversion Cycle	105.06	106.86	106.48	116.05	124.36	115.83	128.36	135.39	129.57	128.37
Total Non-Current Liabilities+	2.6B	2.33B	2.8B	2.62B	3.29B	3.61B	3.37B	3.31B	4.05B	3.64B
Long-Term Debt	1.9B	1.8B	1.8B	1.79B	2.28B	2.73B	2.73B	2.73B	3.35B	3.05B
Capital Lease Obligations	0	0	0	0	0	0	0	0	142M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	699M	527M	1B	833M	1B	879M	633M	580M	566M	589M
Total Liabilities	3.55B	3.59B	3.97B	4.7B	4.75B	5.32B	5.23B	4.92B	5.95B	5.99B
Total Debt+	1.9B	2.01B	1.8B	2.41B	2.36B	2.73B	2.77B	2.73B	3.57B	3.35B
Net Debt	-385M	-667M	-448M	1.02B	918M	1.25B	1.72B	1.15B	2.25B	1.56B
Debt / Equity	0.45x	0.42x	0.39x	0.51x	0.48x	0.51x	0.52x	0.47x	0.61x	0.50x
Debt / EBITDA	2.21x	1.91x	1.61x	2.04x	2.04x	1.64x	1.43x	1.69x	2.05x	1.90x
Net Debt / EBITDA	-0.45x	-0.63x	-0.40x	0.87x	0.80x	0.75x	0.89x	0.71x	1.29x	0.89x
Interest Coverage	8.54x	10.65x	12.05x	12.72x	10.85x	16.63x	19.26x	14.21x	15.50x	13.21x
Total Equity+	4.25B	4.83B	4.57B	4.75B	4.87B	5.39B	5.3B	5.84B	5.9B	6.74B
Equity Growth %	0.02%	0.14%	-0.05%	0.04%	0.03%	0.11%	-0.02%	0.1%	0.01%	0.14%
Book Value per Share	12.91	14.83	14.06	14.93	15.62	17.55	17.68	19.75	20.27	23.74
Total Shareholders' Equity	4.24B	4.83B	4.57B	4.75B	4.87B	5.39B	5.3B	5.84B	5.9B	6.74B
Common Stock	6M	3M	3M	3M	3M	3M	3M	3M	3M	3M
Retained Earnings	6.09B	-126M	-336M	-18M	81M	348M	324M	782M	750M	1.39B
Treasury Stock	-10.51B	0	0	0	0	0	0	0	0	0
Accumulated OCI	-503M	-352M	-408M	-514M	-522M	-282M	-347M	-327M	-305M	-226M
Minority Interest	3M	4M	4M	0	0	0	0	0	0	0

Cash Flow

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Cash from Operations+	793M	889M	1.09B	1.02B	921M	1.49B	1.31B	1.77B	1.75B	1.56B
Operating CF Margin %	0.19%	0.2%	0.22%	0.2%	0.17%	0.24%	0.19%	0.26%	0.27%	0.22%
Operating CF Growth %	-0.4%	0.12%	0.22%	-0.06%	-0.1%	0.61%	-0.12%	0.35%	-0.01%	-0.11%
Net Income	460M	684M	316M	1.07B	719M	1.21B	1.25B	1.24B	1.29B	434M
Depreciation & Amortization	246M	212M	210M	238M	308M	321M	317M	271M	257M	288M
Stock-Based Compensation	58M	60M	70M	72M	83M	110M	125M	111M	129M	128M
Deferred Taxes	3M	102M	-16M	-255M	29M	14M	8M	-56M	-64M	-130M
Other Non-Cash Items	66M	-71M	36M	283M	78M	-68M	86M	322M	57M	897M
Working Capital Changes	-40M	-98M	471M	-388M	-296M	-102M	-478M	-116M	83M	-58M
Change in Receivables	-33M	-81M	-65M	-106M	-107M	-128M	-321M	132M	7M	-149M
Change in Inventory	-7M	-61M	-83M	-36M	-68M	-136M	-248M	-33M	34M	45M
Change in Payables	-15M	2M	40M	30M	2M	64M	121M	-171M	103M	16M
Cash from Investing+	-238M	-305M	-704M	-1.59B	-147M	-749M	-338M	-310M	-1.26B	-394M
Capital Expenditures	-139M	-176M	-177M	-156M	-119M	-189M	-291M	-298M	-378M	-207M
CapEx % of Revenue	0.03%	0.04%	0.04%	0.03%	0.02%	0.03%	0.04%	0.04%	0.06%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	244M	-2M	-1M	-2M	-8M	-4M	-4M	-8M	-13M	-199M
Cash from Financing+	-268M	-202M	-797M	-299M	-717M	-696M	-1.37B	-930M	-752M	-715M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-150M	-170M	-191M	-206M	-222M	-236M	-250M	-265M	-274M	-282M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	54M	52M	509M	46M	19M	-28M	58M	-55M	35M	-39M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	654M	713M	910M	865M	802M	1.3B	1.02B	1.47B	1.37B	1.15B
FCF Margin %	0.16%	0.16%	0.19%	0.17%	0.15%	0.21%	0.15%	0.22%	0.21%	0.17%
FCF Growth %	0.66%	0.09%	0.28%	-0.05%	-0.07%	0.62%	-0.21%	0.44%	-0.07%	-0.16%
FCF per Share	1.99	2.19	2.80	2.72	2.57	4.22	3.40	4.98	4.72	4.06
FCF Conversion (FCF/Net Income)	1.72x	1.30x	3.44x	0.95x	1.28x	1.23x	1.05x	1.43x	1.36x	1.20x
Interest Paid	73M	82M	80M	80M	71M	76M	85M	89M	80M	0
Taxes Paid	67M	63M	102M	159M	361M	211M	279M	199M	314M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.93%	15.06%	6.72%	22.99%	14.95%	23.58%	23.45%	22.24%	21.95%	20.62%
Return on Invested Capital (ROIC)	12.01%	15.71%	16.36%	14.26%	10.97%	16.26%	17.77%	14.45%	14.75%	13.49%
Gross Margin	52.28%	53.87%	54.68%	54.33%	53.14%	53.92%	54.35%	50.71%	54.3%	52.43%
Net Margin	10.95%	15.3%	6.43%	20.74%	13.47%	19.15%	18.31%	18.15%	19.8%	18.75%
Debt / Equity	0.45x	0.42x	0.39x	0.51x	0.48x	0.51x	0.52x	0.47x	0.61x	0.50x
Interest Coverage	8.54x	10.65x	12.05x	12.72x	10.85x	16.63x	19.26x	14.21x	15.50x	13.21x
FCF Conversion	1.72x	1.30x	3.44x	0.95x	1.28x	1.23x	1.05x	1.43x	1.36x	1.20x
Revenue Growth	4.06%	6.43%	9.88%	5.07%	3.41%	18.36%	8.37%	-0.22%	-4.73%	6.73%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Life Sciences and Applied Markets	-	2.07B	2.17B	2.27B	2.3B	2.39B	2.82B	4.01B	3.86B	3.21B
Life Sciences and Applied Markets Growth	-	-	4.63%	4.66%	1.41%	3.91%	18.02%	41.94%	-3.77%	-16.62%
Diagnostics and Genomics	662M	709M	772M	943M	1.02B	1.05B	1.3B	1.39B	1.41B	1.65B
Diagnostics and Genomics Growth	-	7.10%	8.89%	22.15%	8.27%	2.55%	23.78%	7.18%	1.44%	17.18%
Agilent CrossLab	-	1.42B	1.53B	1.7B	1.84B	1.9B	2.2B	1.45B	1.57B	1.64B
Agilent CrossLab Growth	-	-	7.82%	11.10%	8.17%	3.26%	15.79%	-34.00%	7.99%	4.85%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	1.21B	1.25B	1.31B	1.41B	1.86B	1.97B	2.4B	2.68B	2.73B	2.57B
Americas Growth	-	3.73%	5.04%	7.61%	31.61%	5.75%	22.15%	11.56%	1.86%	-5.82%
Asia Pacific	-	-	-	-	1.86B	1.93B	2.23B	2.47B	2.35B	2.17B
Asia Pacific Growth	-	-	-	-	-	3.60%	15.51%	10.78%	-4.86%	-7.67%
Europe	-	-	-	-	1.44B	1.44B	1.69B	1.7B	1.75B	1.77B
Europe Growth	-	-	-	-	-	0.14%	16.98%	0.65%	3.24%	0.91%
Rest Of World	2.2B	2.13B	2.26B	2.48B	-	-	-	-	-	-
Rest Of World Growth	-	-3.14%	6.01%	10.05%	-	-	-	-	-	-
CHINA	633M	821M	900M	1.01B	-	-	-	-	-	-
CHINA Growth	-	29.70%	9.62%	12.78%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Agilent Technologies, Inc. (A) has a price-to-earnings (P/E) ratio of 31.7x. This suggests investors expect higher future growth.

Growth & Financials

Agilent Technologies, Inc. (A) reported $6.95B in revenue for fiscal year 2025. This represents a 1% increase from $6.86B in 2012.

Agilent Technologies, Inc. (A) grew revenue by 6.7% over the past year. This is steady growth.

Yes, Agilent Technologies, Inc. (A) is profitable, generating $1.30B in net income for fiscal year 2025 (18.8% net margin).

Dividend & Returns

Yes, Agilent Technologies, Inc. (A) pays a dividend with a yield of 0.69%. This makes it attractive for income-focused investors.

Agilent Technologies, Inc. (A) has a return on equity (ROE) of 20.6%. This is excellent, indicating efficient use of shareholder capital.

Agilent Technologies, Inc. (A) generated $1.47B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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