Revenue growth accelerated to 10.0% in 2026Q2, while the company maintained a resilient 55.0% gross margin despite ongoing industry-wide inflationary pressures.
| Metric | TTM | Oct'25 | Oct'24 | Oct'23 | Oct'22 | Oct'21 | Oct'20 | Oct'19 | Oct'18 | Oct'17 | Oct'16 | Oct'15 | Oct'14 | Oct'13 | Oct'12 | Oct'11 | Oct'10 | Oct'09 | Oct'08 | Oct'07 | Oct'06 | Oct'05 | Oct'04 | Oct'03 | Oct'02 | Oct'01 | Oct'00 | Oct'99 | Oct'98 |
|---|
| Sales/Revenue | 7.23B | 6.95B | 6.51B | 6.83B | 6.85B | 6.32B | 5.34B | 5.16B | 4.91B | 4.47B | 4.2B | 4.04B | 4.05B | 3.89B | 6.86B | 6.62B | 5.44B | 4.48B | 5.77B | 5.42B | 4.97B | 5.14B | 7.18B | 4.47B | 6.01B | 8.4B | 9.36B | 6.83B | 7.95B |
| Revenue Growth % | 9.11% | 6.73% | -4.73% | -0.22% | 8.37% | 18.36% | 3.41% | 5.07% | 9.88% | 6.43% | 4.06% | -0.25% | 3.95% | -43.22% | 3.67% | 21.51% | 21.49% | -22.39% | 6.53% | 8.99% | -3.23% | -28.44% | 60.72% | -25.66% | -28.42% | -10.31% | 37.06% | -14.11% | - |
| Cost of Goods Sold | 3.4B | 3.31B | 2.98B | 3.37B | 3.13B | 2.91B | 2.5B | 2.36B | 2.23B | 2.06B | 2B | 2B | 2.07B | 1.99B | 3.25B | 3.09B | 2.51B | 2.19B | 2.58B | 2.45B | 2.31B | 2.62B | 4.06B | 61M | 3.69B | 5.17B | 4.59B | 3.63B | 4.04B |
| COGS % of Revenue | - | 47.57% | 45.7% | 49.29% | 45.65% | 46.08% | 46.86% | 45.67% | 45.32% | 46.13% | 47.72% | 49.46% | 51.19% | 51.03% | 47.45% | 46.65% | 46.18% | 48.85% | 44.65% | 45.22% | 46.55% | 50.92% | 56.51% | 1.37% | 61.46% | 61.53% | 48.99% | 53.1% | 50.74% |
| Gross Profit | 3.83B | 3.64B | 3.54B | 3.46B | 3.72B | 3.41B | 2.84B | 2.81B | 2.69B | 2.41B | 2.2B | 2.04B | 1.98B | 1.91B | 3.6B | 3.53B | 2.93B | 2.29B | 3.2B | 2.97B | 2.66B | 2.52B | 3.12B | 1.94B | 2.32B | 3.23B | 4.78B | 3.2B | 3.92B |
| Gross Margin % | 53% | 52.43% | 54.3% | 50.71% | 54.35% | 53.92% | 53.14% | 54.33% | 54.68% | 53.87% | 52.28% | 50.54% | 48.81% | 48.97% | 52.55% | 53.35% | 53.82% | 51.15% | 55.35% | 54.78% | 53.45% | 49.08% | 43.49% | 43.46% | 38.54% | 38.47% | 51.01% | 46.9% | 49.26% |
| Gross Profit Growth % | - | 3.06% | 2.02% | -6.9% | 9.25% | 20.09% | 1.14% | 4.39% | 11.54% | 9.65% | 7.64% | 3.29% | 3.62% | -47.09% | 2.13% | 20.44% | 27.84% | -28.29% | 7.65% | 11.7% | 5.39% | -19.24% | 60.81% | -16.15% | -28.3% | -32.36% | 49.08% | -18.23% | - |
| Operating Expenses | 2.28B | 2.16B | 2.05B | 2.12B | 2.1B | 2.06B | 1.99B | 1.86B | 1.78B | 1.57B | 1.58B | 1.52B | 1.56B | 1.52B | 2.48B | 2.46B | 2.36B | 2.25B | 2.4B | 2.38B | 2.19B | 2.34B | 2.74B | 49M | 3.92B | 4.01B | 3.85B | 2.78B | 3.48B |
| OpEx % of Revenue | - | 31.15% | 31.44% | 30.95% | 30.72% | 32.6% | 37.29% | 36.1% | 36.14% | 35.06% | 37.65% | 37.62% | 38.46% | 39.06% | 36.24% | 37.16% | 43.42% | 50.1% | 41.58% | 44% | 44.12% | 45.55% | 38.11% | 1.1% | 65.27% | 47.74% | 41.14% | 40.72% | 43.7% |
| Selling, General & Admin | 1.79B | 1.71B | 1.52B | 1.63B | 1.64B | 1.62B | 1.5B | 1.46B | 1.37B | 1.23B | 1.25B | 1.19B | 2.04B | 1.88B | 1.82B | 1.81B | 1.75B | 1.6B | 1.7B | 1.7B | 1.66B | 1.6B | 1.8B | 1.97B | 2.75B | 2.66B | 2.94B | 2.21B | 2.05B |
| SG&A % of Revenue | - | 24.6% | 23.32% | 23.91% | 23.9% | 25.62% | 28.02% | 28.28% | 27.96% | 27.48% | 29.82% | 29.45% | 50.47% | 48.28% | 26.49% | 27.35% | 32.18% | 35.77% | 29.39% | 31.37% | 33.38% | 31.19% | 25.12% | 44.05% | 45.82% | 31.67% | 31.41% | 32.28% | 25.78% |
| Research & Development | 473M | 455M | 479M | 481M | 467M | 441M | 495M | 404M | 385M | 339M | 329M | 330M | 719M | 704M | 668M | 649M | 612M | 642M | 704M | 685M | 655M | 738M | 933M | 1.05B | 1.17B | 1.35B | 1.26B | 997M | 948M |
| R&D % of Revenue | - | 6.55% | 7.36% | 7.04% | 6.82% | 6.98% | 9.27% | 7.82% | 7.83% | 7.58% | 7.83% | 8.17% | 17.76% | 18.08% | 9.74% | 9.81% | 11.24% | 14.33% | 12.19% | 12.64% | 13.17% | 14.36% | 12.99% | 23.52% | 19.45% | 16.07% | 13.44% | 14.6% | 11.92% |
| Other Operating Expenses | 1000K | 0 | 50M | 0 | 0 | 0 | 0 | 0 | 17M | 0 | 0 | 0 | -1.21B | -1.06B | 0 | 0 | 0 | 0 | 0 | 0 | -121M | 0 | 0 | -2.97B | 0 | 0 | -347M | -421M | 477M |
| Operating Income | 1.55B | 1.48B | 1.49B | 1.35B | 1.62B | 1.35B | 846M | 941M | 904M | 841M | 615M | 522M | 419M | 386M | 1.12B | 1.07B | 566M | 47M | 795M | 584M | 464M | 181M | 386M | -720M | -1.61B | -778M | 924M | 422M | 442M |
| Operating Margin % | 21.5% | 21.29% | 22.86% | 19.76% | 23.63% | 21.32% | 15.85% | 18.23% | 18.4% | 18.81% | 14.64% | 12.93% | 10.35% | 9.91% | 16.32% | 16.19% | 10.4% | 1.05% | 13.77% | 10.77% | 9.33% | 3.52% | 5.38% | -16.11% | -26.74% | -9.27% | 9.87% | 6.18% | 5.56% |
| Operating Income Growth % | - | -0.6% | 10.22% | -16.56% | 20.12% | 59.22% | -10.1% | 4.09% | 7.49% | 36.75% | 17.82% | 24.58% | 8.55% | -65.5% | 4.48% | 89.22% | 1104.26% | -94.09% | 36.13% | 25.86% | 156.35% | -53.11% | 153.61% | 55.2% | -106.56% | -184.2% | 118.96% | -4.52% | - |
| EBITDA | 1.76B | 1.77B | 1.75B | 1.62B | 1.94B | 1.67B | 1.15B | 1.18B | 1.11B | 1.05B | 862M | 775M | 802M | 758M | 1.42B | 1.32B | 766M | 209M | 996M | 775M | 634M | 361M | 604M | -358M | -872M | -44M | 1.38B | 862M | 919M |
| EBITDA Margin % | 24.41% | 25.43% | 26.8% | 23.72% | 28.26% | 26.4% | 21.61% | 22.84% | 22.67% | 23.59% | 20.51% | 19.19% | 19.81% | 19.47% | 20.71% | 20.02% | 14.07% | 4.66% | 17.25% | 14.3% | 12.75% | 7.02% | 8.41% | -8.01% | -14.51% | -0.52% | 14.78% | 12.62% | 11.56% |
| EBITDA Growth % | 4.19% | 1.26% | 7.65% | -16.23% | 16.01% | 44.54% | -2.12% | 5.83% | 5.59% | 22.39% | 11.23% | -3.37% | 5.8% | -46.62% | 7.25% | 72.85% | 266.51% | -79.02% | 28.52% | 22.24% | 75.62% | -40.23% | 268.72% | 58.95% | -1881.82% | -103.18% | 60.56% | -6.2% | - |
| D&A (Non-Cash Add-back) | 210M | 288M | 257M | 271M | 317M | 321M | 308M | 238M | 210M | 214M | 247M | 253M | 383M | 372M | 301M | 253M | 200M | 162M | 201M | 191M | 170M | 180M | 218M | 362M | 735M | 734M | 460M | 440M | 477M |
| EBIT | 1.65B | 1.55B | 1.62B | 1.43B | 1.59B | 1.44B | 920M | 993M | 1.02B | 882M | 616M | 546M | 339M | 386M | 1.14B | 1.12B | 788M | 95M | 938M | 584M | 464M | 328M | 263M | -720M | -1.61B | -778M | 924M | 422M | 442M |
| Net Interest Income | -44M | -50M | -16M | -44M | -75M | -79M | -70M | -38M | -37M | -57M | -61M | -59M | -101M | -100M | -92M | -72M | -76M | -59M | -10M | 81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 61M | 62M | 80M | 51M | 9M | 2M | 8M | 36M | 38M | 22M | 11M | 7M | 9M | 7M | 9M | 14M | 20M | 29M | 113M | 172M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 105M | 112M | 96M | 95M | 84M | 81M | 78M | 74M | 75M | 79M | 72M | 66M | 110M | 107M | 101M | 86M | 96M | 88M | 123M | 91M | 0 | 0 | 0 | 198M | 0 | 0 | 0 | 0 | 46M |
| Other Income/Expense | 25M | -44M | 33M | -11M | -114M | 13M | -4M | -22M | 42M | -38M | -71M | -42M | -190M | -93M | -76M | -39M | 126M | -40M | 20M | 86M | 163M | 73M | 54M | 24M | 60M | 301M | 94M | 41M | -46M |
| Pretax Income | 1.58B | 1.44B | 1.52B | 1.34B | 1.5B | 1.36B | 842M | 919M | 946M | 803M | 544M | 480M | 229M | 293M | 1.04B | 1.03B | 692M | 7M | 815M | 670M | 627M | 254M | 440M | -696M | -1.55B | -477M | 1.02B | 463M | 396M |
| Pretax Margin % | 21.85% | 20.65% | 23.36% | 19.6% | 21.96% | 21.52% | 15.77% | 17.8% | 19.25% | 17.96% | 12.95% | 11.89% | 5.66% | 7.52% | 15.21% | 15.6% | 12.71% | 0.16% | 14.12% | 12.36% | 12.61% | 4.94% | 6.13% | -15.58% | -25.74% | -5.68% | 10.87% | 6.78% | 4.98% |
| Income Tax | 166M | 132M | 232M | 99M | 250M | 150M | 123M | -152M | 630M | 119M | 82M | 42M | -3M | 68M | -110M | 20M | 8M | 38M | 122M | 32M | 91M | 155M | 57M | 1.09B | -525M | -71M | 346M | 157M | 139M |
| Effective Tax Rate % | 10.51% | 9.2% | 15.25% | 7.39% | 16.62% | 11.03% | 14.61% | -16.54% | 66.6% | 14.82% | 15.07% | 8.75% | -1.31% | 23.21% | -10.55% | 1.94% | 1.16% | 542.86% | 14.97% | 4.78% | 14.51% | 61.02% | 12.95% | -156.61% | 33.94% | 14.88% | 33.99% | 33.91% | 35.1% |
| Net Income | 1.41B | 1.3B | 1.29B | 1.24B | 1.25B | 1.21B | 719M | 1.07B | 316M | 684M | 460M | 401M | 549M | 724M | 1.15B | 1.01B | 684M | -31M | 693M | 638M | 3.31B | 141M | 369M | -2.06B | -1.03B | 168M | 757M | 512M | 257M |
| Net Margin % | 19.55% | 18.75% | 19.8% | 18.15% | 18.31% | 19.15% | 13.47% | 20.74% | 6.43% | 15.3% | 10.95% | 9.93% | 13.56% | 18.59% | 16.81% | 15.3% | 12.56% | -0.69% | 12% | 11.77% | 66.5% | 2.74% | 5.14% | -46.06% | -17.17% | 2% | 8.09% | 7.5% | 3.23% |
| Net Income Growth % | 21.27% | 1.09% | 3.95% | -1.12% | 3.64% | 68.29% | -32.87% | 238.92% | -53.8% | 48.7% | 14.71% | -26.96% | -24.17% | -37.21% | 13.93% | 47.95% | 2306.45% | -104.47% | 8.62% | -80.71% | 2245.39% | -61.79% | 117.93% | -99.42% | -714.29% | -77.81% | 47.85% | 99.22% | - |
| Net Income (Continuing) | 1.41B | 1.3B | 1.29B | 1.24B | 1.25B | 1.21B | 719M | 1.07B | 316M | 684M | 462M | 438M | 232M | 225M | 1.15B | 1.01B | 684M | -31M | 693M | 638M | 1.44B | 191M | 109M | -1.78B | -1.02B | -406M | 672M | 306M | 257M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -37M | 317M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.87B | -50M | 242M | -13M | -10M | 646M | 85M | 206M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4M | 4M | 3M | 3M | 3M | 3M | 3M | 8M | 8M | 0 | 0 | 0 | 11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 4.98 | 4.57 | 4.43 | 4.19 | 4.18 | 3.94 | 2.30 | 3.37 | 0.97 | 2.10 | 1.40 | 1.20 | 1.62 | 2.10 | 3.27 | 2.85 | 1.94 | -0.09 | 1.87 | 1.57 | 7.50 | 0.65 | 0.75 | -4.35 | -2.22 | 0.38 | 1.66 | 1.35 | 0.56 |
| EPS Growth % | 22.96% | 3.16% | 5.73% | 0.24% | 6.09% | 71.3% | -31.75% | 247.42% | -53.81% | 50% | 16.67% | -25.93% | -22.86% | -35.78% | 14.74% | 46.91% | 2265.18% | -104.79% | 19.11% | -79.07% | 1053.85% | -13.33% | 117.24% | -95.95% | -684.21% | -77.11% | 22.96% | 141.07% | - |
| EPS (Basic) | - | 4.59 | 4.44 | 4.22 | 4.19 | 3.98 | 2.33 | 3.41 | 0.98 | 2.12 | 1.42 | 1.20 | 1.65 | 2.12 | 3.31 | 2.92 | 1.97 | -0.09 | 1.91 | 1.62 | 7.67 | 0.66 | 0.76 | -4.35 | -2.22 | 0.38 | 1.68 | 1.35 | 0.58 |
| Diluted Shares Outstanding | 284M | 284M | 291M | 296M | 300M | 307M | 312M | 318M | 325M | 326M | 329M | 335M | 338M | 345M | 353M | 355M | 353M | 346M | 371M | 406M | 441M | 500M | 490M | 473M | 465M | 458M | 455M | 457.5M | 458.93M |
| Basic Shares Outstanding | 283M | 283M | 290M | 294M | 299M | 304M | 309M | 314M | 321M | 322M | 326M | 333M | 333M | 341M | 348M | 347M | 347M | 346M | 363M | 394M | 431M | 494M | 483M | 473M | 465M | 458M | 449M | 380M | 443.1M |
| Dividend Payout Ratio | - | 21.64% | 21.26% | 21.37% | 19.94% | 19.5% | 30.88% | 19.23% | 60.44% | 24.85% | 32.61% | 33.17% | 32.06% | 21.55% | 9.02% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Geopolitical exposure in China
According to recent quarterly filings, Agilent's revenue growth has accelerated to 10.0% in 2026Q2, marking a significant recovery from the negative growth rates observed throughout 2024, suggesting that the company's diversified laboratory workflow strategy is successfully capturing renewed demand across its primary life science and applied market segments.
The transition from negative growth in 2024 to double-digit expansion indicates that the company's instrument placement cycle may be bottoming out. Investors should monitor whether this acceleration is driven by sustainable organic demand or a temporary backlog clearance, as the current trajectory appears to outpace several of its broader life science peers.
As reported in financial statements, Agilent achieved a gross margin of 55.0% in 2026Q2, demonstrating an ability to maintain pricing power despite the inflationary pressures and supply chain complexities that have historically challenged the broader medical diagnostics and research instrument industry over the past ten quarters.
The stability of these margins suggests that the company's high-value intellectual property in mass spectrometry and genomics consumables remains a critical buffer. This structural advantage allows the firm to absorb input cost fluctuations more effectively than competitors with less integrated service and software ecosystems.
Based on the provided income statement data, Agilent's operating income reached $399 million in 2026Q2, reflecting a disciplined approach to overhead management where SG&A expenses have remained relatively contained even as the company scales its top-line revenue growth compared to the previous fiscal year's performance.
The ability to expand operating margins while maintaining consistent R&D investment suggests that the company is successfully leveraging its global field-service infrastructure. This operational efficiency appears to be a key driver of the recent earnings recovery, indicating that the firm is not merely buying growth through excessive spending.
Data from the most recent quarterly report shows a notable absence of stock-based compensation in 2026Q2, which contrasts with the $41 million expense recorded in 2026Q1, suggesting that the reported net income of $339 million is of higher quality and less diluted by non-cash equity incentives.
The variability in stock-based compensation warrants further investigation to determine if this reflects a permanent shift in compensation policy or a temporary accounting anomaly. Investors should remain cautious, as the quality of earnings remains sensitive to these periodic adjustments in non-operating expenses.
While recent growth figures appear positive, historical data indicates that Agilent's revenue remains susceptible to sharp cyclical downturns, as evidenced by the 8.4% contraction in 2024Q2, which highlights the inherent risk of relying on capital-intensive instrument sales during periods of broader industrial and healthcare spending uncertainty.
Short-term observers may argue that the current acceleration is a transient recovery rather than a structural shift in demand. The reliance on the Chinese market as a swing factor for growth remains a significant vulnerability that could lead to future earnings volatility if regional macroeconomic conditions deteriorate further.
Quick answers to the most common questions about buying A stock.
For fiscal year 2025, Agilent Technologies, Inc. (A) reported total revenue of $6.95B. This represents a 12.6% decline compared to $7.95B in 1998.
Agilent Technologies, Inc. (A) is profitable, generating $1.30B in net income for the fiscal year ending 2025 with a net profit margin of 18.8%.
Agilent Technologies, Inc. (A) reported an operating income of $1.48B, resulting in an operating profit margin of 21.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Agilent Technologies, Inc. (A) generated $3.64B in gross profit for the year, representing a gross profit margin of 52.4%. This demonstrates the company's core pricing power and production efficiency.