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Side-by-side financial comparison of Keysight Technologies (KEYS) and NCR Atleos Corp (NATL). Click either name above to swap in a different company.
Keysight Technologies is the larger business by last-quarter revenue ($1.4B vs $1.2B, roughly 1.2× NCR Atleos Corp). Keysight Technologies runs the higher net margin — 16.4% vs 7.2%, a 9.2% gap on every dollar of revenue. On growth, Keysight Technologies posted the faster year-over-year revenue change (10.3% vs 4.0%). NCR Atleos Corp produced more free cash flow last quarter ($194.0M vs $187.0M). Over the past eight quarters, Keysight Technologies's revenue compounded faster (6.2% CAGR vs 4.9%).
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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
KEYS vs NATL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $1.2B |
| Net Profit | $233.0M | $83.0M |
| Gross Margin | 61.2% | — |
| Operating Margin | 15.3% | 13.5% |
| Net Margin | 16.4% | 7.2% |
| Revenue YoY | 10.3% | 4.0% |
| Net Profit YoY | 419.2% | 102.4% |
| EPS (diluted) | $1.35 | $1.09 |
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 | $1.2B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $979.0M | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.2B | $1.1B | ||
| Q2 24 | $1.2B | $1.1B | ||
| Q1 24 | $1.3B | $1.0B |
| Q4 25 | $233.0M | $83.0M | ||
| Q3 25 | $191.0M | $26.0M | ||
| Q2 25 | $257.0M | $39.0M | ||
| Q1 25 | $169.0M | $14.0M | ||
| Q4 24 | $-73.0M | $41.0M | ||
| Q3 24 | $389.0M | $21.0M | ||
| Q2 24 | $126.0M | $27.0M | ||
| Q1 24 | $172.0M | $-9.0M |
| 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% | 13.5% | ||
| Q3 25 | 17.3% | 9.8% | ||
| Q2 25 | 15.8% | 10.8% | ||
| Q1 25 | 16.8% | 9.5% | ||
| Q4 24 | 17.9% | 13.4% | ||
| Q3 24 | 16.8% | 10.6% | ||
| Q2 24 | 14.6% | 9.8% | ||
| Q1 24 | 17.6% | 6.5% |
| Q4 25 | 16.4% | 7.2% | ||
| Q3 25 | 14.1% | 2.3% | ||
| Q2 25 | 19.7% | 3.5% | ||
| Q1 25 | 13.0% | 1.4% | ||
| Q4 24 | -5.7% | 3.7% | ||
| Q3 24 | 32.0% | 2.0% | ||
| Q2 24 | 10.4% | 2.5% | ||
| Q1 24 | 13.7% | -0.9% |
| Q4 25 | $1.35 | $1.09 | ||
| Q3 25 | $1.10 | $0.34 | ||
| Q2 25 | $1.49 | $0.52 | ||
| Q1 25 | $0.97 | $0.19 | ||
| Q4 24 | $-0.41 | $0.56 | ||
| Q3 24 | $2.22 | $0.28 | ||
| Q2 24 | $0.72 | $0.37 | ||
| Q1 24 | $0.98 | $-0.13 |
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 | $456.0M |
| Total DebtLower is stronger | $2.5B | $2.7B |
| Stockholders' EquityBook value | $5.9B | $403.0M |
| Total Assets | $11.3B | $5.7B |
| Debt / EquityLower = less leverage | 0.43× | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $456.0M | ||
| Q3 25 | $2.6B | $412.0M | ||
| Q2 25 | $3.1B | $357.0M | ||
| Q1 25 | $2.1B | $352.0M | ||
| Q4 24 | $1.8B | $419.0M | ||
| Q3 24 | $1.6B | $395.0M | ||
| Q2 24 | $1.7B | $374.0M | ||
| Q1 24 | $1.7B | $343.0M |
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $2.5B | $2.8B | ||
| Q2 25 | $2.5B | $2.8B | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.8B | $2.9B | ||
| Q3 24 | $1.8B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $1.8B | — |
| Q4 25 | $5.9B | $403.0M | ||
| Q3 25 | $5.7B | $330.0M | ||
| Q2 25 | $5.5B | $350.0M | ||
| Q1 25 | $5.2B | $275.0M | ||
| Q4 24 | $5.1B | $219.0M | ||
| Q3 24 | $5.2B | $264.0M | ||
| Q2 24 | $4.9B | $250.0M | ||
| Q1 24 | $4.8B | $283.0M |
| Q4 25 | $11.3B | $5.7B | ||
| Q3 25 | $10.7B | $5.7B | ||
| Q2 25 | $10.5B | $5.8B | ||
| Q1 25 | $9.4B | $5.7B | ||
| Q4 24 | $9.3B | $5.5B | ||
| Q3 24 | $9.3B | $5.7B | ||
| Q2 24 | $9.0B | $5.8B | ||
| Q1 24 | $9.1B | $5.8B |
| Q4 25 | 0.43× | 6.63× | ||
| Q3 25 | 0.45× | 8.45× | ||
| Q2 25 | 0.46× | 8.05× | ||
| Q1 25 | 0.35× | — | ||
| Q4 24 | 0.35× | 13.05× | ||
| 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 | $231.0M |
| Free Cash FlowOCF − Capex | $187.0M | $194.0M |
| FCF MarginFCF / Revenue | 13.2% | 16.8% |
| Capex IntensityCapex / Revenue | 2.7% | 3.2% |
| Cash ConversionOCF / Net Profit | 0.97× | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $225.0M | $231.0M | ||
| Q3 25 | $322.0M | $25.0M | ||
| Q2 25 | $484.0M | $-23.0M | ||
| Q1 25 | $378.0M | $123.0M | ||
| Q4 24 | $359.0M | $80.0M | ||
| Q3 24 | $255.0M | $107.0M | ||
| Q2 24 | $110.0M | $9.0M | ||
| Q1 24 | $328.0M | $148.0M |
| Q4 25 | $187.0M | $194.0M | ||
| Q3 25 | $291.0M | $-5.0M | ||
| Q2 25 | $457.0M | $-44.0M | ||
| Q1 25 | $346.0M | $94.0M | ||
| Q4 24 | $321.0M | $62.0M | ||
| Q3 24 | $222.0M | $85.0M | ||
| Q2 24 | $74.0M | $-14.0M | ||
| Q1 24 | $281.0M | $124.0M |
| Q4 25 | 13.2% | 16.8% | ||
| Q3 25 | 21.5% | -0.4% | ||
| Q2 25 | 35.0% | -4.0% | ||
| Q1 25 | 26.7% | 9.6% | ||
| Q4 24 | 24.9% | 5.6% | ||
| Q3 24 | 18.2% | 7.9% | ||
| Q2 24 | 6.1% | -1.3% | ||
| Q1 24 | 22.3% | 11.9% |
| Q4 25 | 2.7% | 3.2% | ||
| Q3 25 | 2.3% | 2.7% | ||
| Q2 25 | 2.1% | 1.9% | ||
| Q1 25 | 2.5% | 3.0% | ||
| Q4 24 | 3.0% | 1.6% | ||
| Q3 24 | 2.7% | 2.1% | ||
| Q2 24 | 3.0% | 2.1% | ||
| Q1 24 | 3.7% | 2.3% |
| Q4 25 | 0.97× | 2.78× | ||
| Q3 25 | 1.69× | 0.96× | ||
| Q2 25 | 1.88× | -0.59× | ||
| Q1 25 | 2.24× | 8.79× | ||
| Q4 24 | — | 1.95× | ||
| Q3 24 | 0.66× | 5.10× | ||
| Q2 24 | 0.87× | 0.33× | ||
| Q1 24 | 1.91× | — |
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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
