For the year ending 2025-10-31, KEYS had $76M increase in cash & cash equivalents over the period. $1,281M in free cash flow.
| Cash Flow | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 |
|---|---|---|---|---|
| Net income | 850 | 614 | 1,057 | 1,124 |
| Depreciation | 131 | 126 | 120 | 117 |
| Amortization | 145 | 144 | 92 | 106 |
| Share-based compensation | 162 | 137 | 135 | 125 |
| Deferred tax expense (benefit) | -116 | 268 | -3 | 7 |
| Excess and obsolete inventory-related charges | 43 | 35 | 27 | 27 |
| Loss on settlement of pension plan | - | - | 0 | 0 |
| Gain on insurance proceeds received for damage to property, plant and equipment | - | - | - | 0 |
| Gain on sale of investments | 21 | - | - | - |
| Unrealized loss (gain) on investments in equity securities | 93 | - | 5 | -31 |
| Other non-cash expenses (income), net | -6 | 1 | -4 | -11 |
| Accounts receivable | -23 | -71 | -14 | 204 |
| Inventory | 24 | 49 | 148 | 125 |
| Accounts payable | 26 | 26 | -62 | 56 |
| Employee compensation and benefits | - | -36 | -43 | -17 |
| Increase (decrease) in employee related liabilities | 47 | - | - | - |
| Deferred revenue | 35 | -12 | 61 | 79 |
| Income taxes payable | 105 | 30 | -40 | -14 |
| Retirement and post-retirement benefits | - | - | -8 | -19 |
| Interest rate swap agreement termination proceeds | 0 | 0 | 107 | - |
| Prepaid assets | - | -14 | -7 | 124 |
| Income taxes receivable | -105 | 202 | - | - |
| Other assets and liabilities | 15 | 113 | -93 | 36 |
| Net cash provided by operating activities | 1,409 | 1,052 | 1,408 | 1,144 |
| Investments in property, plant and equipment | 128 | 154 | 196 | 185 |
| Proceeds from government incentives | 1 | 7 | - | - |
| Acquisitions of businesses and intangible assets, net of cash acquired | 2,022 | 681 | 85 | 33 |
| Insurance proceeds received for damage to property, plant and equipment | - | - | - | 0 |
| Proceeds from divestiture | 399 | - | - | - |
| Purchase of investments | - | 11 | 7 | 33 |
| Payments for (proceeds from) investments | -30 | - | - | - |
| Payment for (proceeds from) other investing activity | 7 | -20 | - | - |
| Net cash used in investing activities | -1,727 | -819 | -288 | -251 |
| Proceeds from issuance of common stock under employee stock plans | 63 | 66 | 67 | 63 |
| Payment of taxes related to net share settlement of equity awards | 39 | 31 | 49 | 74 |
| Acquisition of non-controlling interests | 0 | 458 | - | - |
| Treasury stock repurchases, including excise tax payments | 377 | 443 | - | - |
| Proceeds from issuance of long-term debt | 748 | 599 | - | - |
| Repayment of debt | 0 | 624 | - | - |
| Treasury stock repurchases | - | - | 702 | 849 |
| Debt issuance costs | 8 | 12 | - | - |
| Other financing activities | -2 | -10 | -3 | -1 |
| Net cash provided by (used in) financing activities | 385 | -913 | -687 | -861 |
| Effect of exchange rate movements | 9 | 6 | -2 | -43 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 76 | -674 | 431 | -11 |
| Cash and cash equivalents at beginning of period | 1,814 | 2,488 | 2,057 | 2,068 |
| Cash and cash equivalents at end of period | 1,890 | 1,814 | 2,488 | 2,057 |
Keysight Technologies, Inc. (KEYS)
Keysight Technologies, Inc. (KEYS)