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Side-by-side financial comparison of Keysight Technologies (KEYS) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
Keysight Technologies is the larger business by last-quarter revenue ($1.4B vs $822.5M, roughly 1.7× MSCI Inc.). MSCI Inc. runs the higher net margin — 34.6% vs 16.4%, a 18.2% gap on every dollar of revenue. On growth, MSCI Inc. posted the faster year-over-year revenue change (10.6% vs 10.3%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $187.0M). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 6.2%).
Keysight Technologies, Inc. is an American company that manufactures electronics test and measurement equipment and software. The company was formed as a spin-off of Agilent Technologies, which inherited and rebranded the test and measurement product lines developed and produced, from the late 1960s to the turn of the millennium, by Hewlett-Packard's Test and Measurement division. Its name is a portmanteau of key and insight.
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
KEYS vs MSCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $822.5M |
| Net Profit | $233.0M | $284.7M |
| Gross Margin | 61.2% | — |
| Operating Margin | 15.3% | 56.4% |
| Net Margin | 16.4% | 34.6% |
| Revenue YoY | 10.3% | 10.6% |
| Net Profit YoY | 419.2% | -6.8% |
| EPS (diluted) | $1.35 | $3.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $822.5M | ||
| Q3 25 | $1.4B | $793.4M | ||
| Q2 25 | $1.3B | $772.7M | ||
| Q1 25 | $1.3B | $745.8M | ||
| Q4 24 | $1.3B | $743.5M | ||
| Q3 24 | $1.2B | $724.7M | ||
| Q2 24 | $1.2B | $707.9M | ||
| Q1 24 | $1.3B | $680.0M |
| Q4 25 | $233.0M | $284.7M | ||
| Q3 25 | $191.0M | $325.4M | ||
| Q2 25 | $257.0M | $303.6M | ||
| Q1 25 | $169.0M | $288.6M | ||
| Q4 24 | $-73.0M | $305.5M | ||
| Q3 24 | $389.0M | $280.9M | ||
| Q2 24 | $126.0M | $266.8M | ||
| Q1 24 | $172.0M | $256.0M |
| Q4 25 | 61.2% | — | ||
| Q3 25 | 61.7% | — | ||
| Q2 25 | 62.3% | — | ||
| Q1 25 | 63.2% | — | ||
| Q4 24 | 62.3% | — | ||
| Q3 24 | 62.0% | — | ||
| Q2 24 | 62.7% | — | ||
| Q1 24 | 64.6% | — |
| Q4 25 | 15.3% | 56.4% | ||
| Q3 25 | 17.3% | 56.4% | ||
| Q2 25 | 15.8% | 55.0% | ||
| Q1 25 | 16.8% | 50.6% | ||
| Q4 24 | 17.9% | 54.5% | ||
| Q3 24 | 16.8% | 55.4% | ||
| Q2 24 | 14.6% | 54.0% | ||
| Q1 24 | 17.6% | 49.9% |
| Q4 25 | 16.4% | 34.6% | ||
| Q3 25 | 14.1% | 41.0% | ||
| Q2 25 | 19.7% | 39.3% | ||
| Q1 25 | 13.0% | 38.7% | ||
| Q4 24 | -5.7% | 41.1% | ||
| Q3 24 | 32.0% | 38.8% | ||
| Q2 24 | 10.4% | 37.7% | ||
| Q1 24 | 13.7% | 37.6% |
| Q4 25 | $1.35 | $3.81 | ||
| Q3 25 | $1.10 | $4.25 | ||
| Q2 25 | $1.49 | $3.92 | ||
| Q1 25 | $0.97 | $3.71 | ||
| Q4 24 | $-0.41 | $3.89 | ||
| Q3 24 | $2.22 | $3.57 | ||
| Q2 24 | $0.72 | $3.37 | ||
| Q1 24 | $0.98 | $3.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $515.3M |
| Total DebtLower is stronger | $2.5B | $6.2B |
| Stockholders' EquityBook value | $5.9B | $-2.7B |
| Total Assets | $11.3B | $5.7B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $515.3M | ||
| Q3 25 | $2.6B | $400.1M | ||
| Q2 25 | $3.1B | $347.3M | ||
| Q1 25 | $2.1B | $360.7M | ||
| Q4 24 | $1.8B | $409.4M | ||
| Q3 24 | $1.6B | $501.0M | ||
| Q2 24 | $1.7B | $451.4M | ||
| Q1 24 | $1.7B | $519.3M |
| Q4 25 | $2.5B | $6.2B | ||
| Q3 25 | $2.5B | $5.5B | ||
| Q2 25 | $2.5B | $4.5B | ||
| Q1 25 | $1.8B | $4.5B | ||
| Q4 24 | $1.8B | $4.5B | ||
| Q3 24 | $1.8B | $4.5B | ||
| Q2 24 | $1.8B | $4.5B | ||
| Q1 24 | $1.8B | $4.5B |
| Q4 25 | $5.9B | $-2.7B | ||
| Q3 25 | $5.7B | $-1.9B | ||
| Q2 25 | $5.5B | $-886.2M | ||
| Q1 25 | $5.2B | $-958.6M | ||
| Q4 24 | $5.1B | $-940.0M | ||
| Q3 24 | $5.2B | $-751.0M | ||
| Q2 24 | $4.9B | $-734.5M | ||
| Q1 24 | $4.8B | $-650.5M |
| Q4 25 | $11.3B | $5.7B | ||
| Q3 25 | $10.7B | $5.4B | ||
| Q2 25 | $10.5B | $5.4B | ||
| Q1 25 | $9.4B | $5.3B | ||
| Q4 24 | $9.3B | $5.4B | ||
| Q3 24 | $9.3B | $5.4B | ||
| Q2 24 | $9.0B | $5.5B | ||
| Q1 24 | $9.1B | $5.5B |
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.45× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.37× | — | ||
| Q1 24 | 0.38× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $225.0M | $501.1M |
| Free Cash FlowOCF − Capex | $187.0M | $488.7M |
| FCF MarginFCF / Revenue | 13.2% | 59.4% |
| Capex IntensityCapex / Revenue | 2.7% | 1.5% |
| Cash ConversionOCF / Net Profit | 0.97× | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $225.0M | $501.1M | ||
| Q3 25 | $322.0M | $449.4M | ||
| Q2 25 | $484.0M | $336.1M | ||
| Q1 25 | $378.0M | $301.7M | ||
| Q4 24 | $359.0M | $430.6M | ||
| Q3 24 | $255.0M | $421.6M | ||
| Q2 24 | $110.0M | $349.2M | ||
| Q1 24 | $328.0M | $300.1M |
| Q4 25 | $187.0M | $488.7M | ||
| Q3 25 | $291.0M | $445.5M | ||
| Q2 25 | $457.0M | $324.7M | ||
| Q1 25 | $346.0M | $290.2M | ||
| Q4 24 | $321.0M | $416.4M | ||
| Q3 24 | $222.0M | $415.0M | ||
| Q2 24 | $74.0M | $340.6M | ||
| Q1 24 | $281.0M | $295.9M |
| Q4 25 | 13.2% | 59.4% | ||
| Q3 25 | 21.5% | 56.2% | ||
| Q2 25 | 35.0% | 42.0% | ||
| Q1 25 | 26.7% | 38.9% | ||
| Q4 24 | 24.9% | 56.0% | ||
| Q3 24 | 18.2% | 57.3% | ||
| Q2 24 | 6.1% | 48.1% | ||
| Q1 24 | 22.3% | 43.5% |
| Q4 25 | 2.7% | 1.5% | ||
| Q3 25 | 2.3% | 0.5% | ||
| Q2 25 | 2.1% | 1.5% | ||
| Q1 25 | 2.5% | 1.5% | ||
| Q4 24 | 3.0% | 1.9% | ||
| Q3 24 | 2.7% | 0.9% | ||
| Q2 24 | 3.0% | 1.2% | ||
| Q1 24 | 3.7% | 0.6% |
| Q4 25 | 0.97× | 1.76× | ||
| Q3 25 | 1.69× | 1.38× | ||
| Q2 25 | 1.88× | 1.11× | ||
| Q1 25 | 2.24× | 1.05× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | 0.66× | 1.50× | ||
| Q2 24 | 0.87× | 1.31× | ||
| Q1 24 | 1.91× | 1.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
