AGILENT TECHNOLOGIES, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AGILENT TECHNOLOGIES, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	4,202	4,472	4,914	5,163	5,339	6,319	6,848	6,833	6,510	6,948
Cost of revenue	2,005	2,063	2,234	2,358	2,502	2,912	3,126	3,368	2,975	3,305
Gross profit	2,197	2,409	2,680	2,805	2,837	3,407	3,722	3,465	3,535	3,643
Research and development	329	341	387	404	495	441	467	481	479	455
Selling, general and administrative	1,253	1,251	1,389	1,460	1,496	1,619	1,637	1,634	1,568	1,709
Operating income	615	807	904	941	846	1,347	1,618	1,350	1,488	1,479
Interest expense	72	79	75	74	78	81	84	95	96	112
Interest income	11	22	38	36	8	2	9	51	80	62
Other non-operating income	-10	53	79	16	66	92	-39	33	49	6
Pre-tax income	859	974	946	919	842	1,360	1,504	1,339	1,521	1,435
Income tax	82	119	630	-152	123	150	250	99	232	132
Income from continuing operations	462	684
Net income	462	684	316	1,071	719	1,210	1,254	1,240	1,289	1,303
EBITDA	861	1,019	1,114	1,179	1,154	1,668	1,935	1,621	1,745	1,767
EPS, basic	1.42	2.12	0.98	3.41	2.33	3.98	4.19	4.22	4.44	4.59
EPS, diluted	1.40	2.10	0.97	3.37	2.30	3.94	4.18	4.19	4.43	4.57
Shares, basic (weighted)	326	322	321	314	309	304	299	294	290	284
Shares, diluted (weighted)	329	326	325	318	312	307	300	296	291	285
Dividend per share	0.46	0.53	0.60	0.66	0.72	0.78	0.84	0.90	0.94	0.99

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	2,289	2,678	2,247	1,382	1,441	1,484	1,053	1,590	1,329	1,789
Receivables	631	724	776	930	1,038	1,172	1,405	1,291	1,324	1,487
Inventory	533	575	638	679	720	830	1,038	1,031	972	1,025
Other current assets	182	192	187	198	216	222	282	274	334	293
Total current assets	3,635	4,169	3,848	3,189	3,415	3,799	3,778	4,186	3,959	4,594
Property, plant and equipment	639	757	822	850	845	945	1,100	1,270	1,778	2,023
Lease right-of-use assets				0	175	178	150	154	177	183
Goodwill	2,517	2,607	2,973	3,593	3,602	3,975	3,952	3,960	4,477	4,473
Intangible assets	416	361	491	1,107	831	981	821	475	547	445
Long-term investments	135	138	68	102	158	185	195	164	175	133
Other non-current assets	452	394	339	611	776	820	686	708	910	1,059
Total assets	7,794	8,426	8,541	9,452	9,627	10,705	10,532	10,763	11,846	12,727
Accounts payable	257	305	340	354	354	446	580	418	540	570
Accrued liabilities	235	276	304	334	367	493	455	371	368	443
Deferred revenue	269	291	324	336	386	441	461	505	544	624
Short-term debt	0	210	0	616	75	0	36	0	45	304
Total current liabilities	945	1,263	1,171	2,080	1,467	1,708	1,861	1,603	1,895	2,347
Long-term debt	1,904	1,801	1,799	1,791	2,284	2,729
Lease liabilities					127	130	101	118	142	145
Other non-current liabilities	339	293	761	473	614	659	536	477	578	463
Total liabilities	3,548	3,591	3,970	4,704	4,754	5,316	5,227	4,918	5,948	5,986
Total debt	1,888	1,790	1,792	1,786	2,284	2,729	2,733	2,735	3,345	3,050
Paid-in capital	9,159	5,300	5,308	5,277	5,311	5,320	5,325	5,387	5,450	5,575
Retained earnings	6,089	-126	-336	-18	81	348	324	782	750	1,389
Treasury stock	-10,508	0	0
Other comprehensive income	-503	-346	-408	-514	-522	-282	-347	-327	-305	-226
Shareholders' equity	4,243	4,831	4,567	4,748	4,873	5,389	5,305	5,845	5,898	6,741
Minority interests	3	4	4	0
Total equity	4,246	4,835	4,571	4,748	4,873	5,389	5,305	-327	-305	-226
Total liabilities and equity	7,794	8,426	8,541	9,452	9,627	10,705	10,532	10,763	11,846	12,727
Shares outstanding	614	322	318	309	306	302	295	292	285	283

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	462	684	316	1,071	719	1,210	1,254	1,240	1,289	1,303
Depreciation and amortization	246	212	210	238	308	321	317	271	257	288
Stock-based compensation	58	60	70	72	83	110	125	111	129	128
Deferred income tax	3	102	-16	-255	29	14	8	-56	-64	-130
Change in receivables	-33	-81	-65	-106	-107	-128	-321	132	7	-149
Change in inventory	-7	-61	-83	-36	-68	-136	-248	-33	34	-97
Change in payables	-15	2	40	29	2	64	121	-171	103	16
Cash from operations	793	889	1,087	1,021	921	1,485	1,312	1,772	1,751	1,559
Capital expenditures	-139	-176	-177	-155	-119	-188	-291	-298	-378	-407
Acquisitions	-261	-128	-516	-1,408	0	-547	-52	-51	-862	4
Purchases of investments		-1	-11	-23
Sales and maturities of investments	1	0	0
Cash from investing	-238	-304	-705	-1,590	-147	-749	-338	-310	-1,258	-394
Debt issued	299	0	0	497	499	848	600	0	1,197	4
Debt repaid	0					-417	-609	0	-600	-3
Share buybacks	-434	-194	-422	-723	-469	-788	-1,139	-575	-1,150	-425
Dividends paid	-150	-170	-191	-206	-222	-236	-250	-265	-274	-282
Cash from financing	-268	-202	-797	-299	-717	-696	-1,372	-930	-752	-715
Exchange rate effect	-1	8	-17	2	2	3	-36	5	-2	9
Net change in cash	286	391	-432	-866	59	43	-434	537	-261	459
Free cash flow	654	713	910	866	802	1,297	1,021	1,474	1,373	1,152
Interest paid	73	82	80	80	71	76	85	89	80	101
Income taxes paid	67	63	102	159	361	211	279	199	314	318

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $172.79 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	53.8%	Gross profit / revenue.
Operating margin	22.2%	Operating income / revenue.
EBITDA margin	25.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	22.5%	Pre-tax income / revenue.
Net margin	19.5%	Net income / revenue.
FCF margin	17.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.8%	Cash from operations / revenue.
Effective tax rate	13.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	19.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.3%	Net income / average total assets.
Return on invested capital (ROIC)	15.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	6.6%	Research and development expense / revenue.
SG&A / revenue	25.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	4.6%	Capital expenditures / revenue.
D&A / revenue	3.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-0.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-0.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-2.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	11.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	1.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	8.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	1.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	1.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	12.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	3.2%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	3.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-11.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	11.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-16.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	4.1%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	5.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	6.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	14.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	6.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.05x	Current assets / current liabilities.
Quick ratio	1.41x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.77x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.50x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	26.1%	Total debt / total assets.
Liabilities / assets	47.3%	Total liabilities / total assets.
Net debt	$1.89B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.99x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	15.5x	Operating income / interest expense.
Working capital	$2.40B	Current assets - current liabilities.
Goodwill and intangibles / assets	42.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.43B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.53x	Revenue / average total assets.
Fixed asset turnover	3.45x	Revenue / average property, plant and equipment.
Inventory turnover	3.05x	Cost of revenue / average inventory.
Days inventory	120 days	365 x average inventory / cost of revenue.
Receivables turnover	4.99x	Revenue / average receivables.
Days sales outstanding	73 days	365 x average receivables / revenue.
Days payables	65 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	128 days	Days inventory + days sales outstanding - days payables.
FCF conversion	88.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	21.3%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$5.09	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$26.05	Revenue / diluted weighted shares.
FCF per share	$4.48	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.69	Cash from operations / diluted weighted shares.
Book value per share	$26.11	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$5.06	Tangible book value / shares outstanding.
Cash per share	$6.23	(Cash + short-term investments) / shares outstanding.
Payout ratio	19.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	22.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	30.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$48.80B	Share price x shares outstanding.
Enterprise value	$50.69B	Market cap + total debt - cash - short-term investments.
P/E	33.9x	Market cap / net income. Only when net income is positive.
P/S	6.62x	Market cap / revenue.
P/B	6.63x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	34.2x	Market cap / tangible book value, when positive.
P/FCF	38.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	30.3x	Market cap / cash from operations, when positive.
EV/Sales	6.88x	Enterprise value / revenue.
EV/EBIT	30.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	26.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	40.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.6%	Free cash flow / market cap.
Earnings yield	3.0%	Net income / market cap (the inverse of P/E).
Dividend yield	0.6%	Dividends paid over the period / market cap.
Shareholder yield	1.4%	(Dividends paid + share buybacks) / market cap.
PEG	11.2x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was AGILENT TECHNOLOGIES, INC.'s revenue in fiscal 2025?

AGILENT TECHNOLOGIES, INC. reported revenue of $6.95B for fiscal 2025, 6.7% higher than the year before.

Was AGILENT TECHNOLOGIES, INC. profitable in fiscal 2025?

Yes. Net income was $1.30B, a net margin of 18.8%.

How much free cash flow did AGILENT TECHNOLOGIES, INC. generate in fiscal 2025?

Cash from operations of $1.56B minus capital expenditures of $407.0M left free cash flow of $1.15B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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