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Fortive vs Keysight Technologies: revenue, profit, margins and growth compared

Fortive brought in $4.2B of revenue in fiscal 2025, Keysight Technologies $5.4B in fiscal 2025. Revenue changed by +1.9% at Fortive and +8.0% at Keysight Technologies on the year before, so Keysight Technologies grew faster. Fortive kept 13.9% of its revenue as net profit, Keysight Technologies 15.8%. Free cash flow was $978.1M at Fortive and $1.3B at Keysight Technologies.

Side by side, latest fiscal year

FTVKEYS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (October 31, 2025)
Revenue$4.2B$5.4B
Revenue growth+1.9%+8.0%
Net income$579.2M$850M
Net margin13.9%15.8%
Free cash flow$978.1M$1.3B
Free cash flow margin23.5%23.8%
Earnings per share (diluted)$1.73$4.91
Cash$375.5M$1.9B
Debt$3.2B$2.5B
Price to earnings32.473.8
Market value$16.9B$61.9B
Dividend yieldn/an/a
Rank by revenue in sector#138 of 451 · Industrials#118 of 451 · Industrials

Over the years

Revenue
FTV FY2018: $6.5BFTV FY2019: $4.6BFTV FY2020: $4.6BFTV FY2021: $5.3BFTV FY2022: $5.8BFTV FY2023: $3.9BFTV FY2024: $4.1BFTV FY2025: $4.2BKEYS FY2018: $3.9BKEYS FY2019: $4.3BKEYS FY2020: $4.2BKEYS FY2021: $4.9BKEYS FY2022: $5.4BKEYS FY2023: $5.5BKEYS FY2024: $5BKEYS FY2025: $5.4BFY18FY19FY20FY21FY22FY23FY24FY25
FTV $4.2BKEYS $5.4B
Net income
FTV FY2018: $2.9BFTV FY2019: $669.9MFTV FY2020: $1.5BFTV FY2021: $573.9MFTV FY2022: $755.2MFTV FY2023: $865.8MFTV FY2024: $832.9MFTV FY2025: $579.2MKEYS FY2018: $165MKEYS FY2019: $621MKEYS FY2020: $627MKEYS FY2021: $894MKEYS FY2022: $1.1BKEYS FY2023: $1.1BKEYS FY2024: $614MKEYS FY2025: $850MFY18FY19FY20FY21FY22FY23FY24FY25
FTV $579.2MKEYS $850M
Net margin
FTV FY2018: 44.6%FTV FY2019: 14.7%FTV FY2020: 33.3%FTV FY2021: 10.9%FTV FY2022: 13.0%FTV FY2023: 22.1%FTV FY2024: 20.4%FTV FY2025: 13.9%KEYS FY2018: 4.3%KEYS FY2019: 14.4%KEYS FY2020: 14.9%KEYS FY2021: 18.1%KEYS FY2022: 20.7%KEYS FY2023: 19.3%KEYS FY2024: 12.3%KEYS FY2025: 15.8%FY18FY19FY20FY21FY22FY23FY24FY25
FTV 13.9%KEYS 15.8%
Revenue growth
FTV FY2019: -29.3%FTV FY2020: +1.5%FTV FY2021: +13.4%FTV FY2022: +10.9%FTV FY2023: -32.8%FTV FY2024: +4.3%FTV FY2025: +1.9%KEYS FY2019: +11.0%KEYS FY2020: -1.9%KEYS FY2021: +17.1%KEYS FY2022: +9.7%KEYS FY2023: +0.8%KEYS FY2024: -8.9%KEYS FY2025: +8.0%FY19FY20FY21FY22FY23FY24FY25
FTV +1.9%KEYS +8.0%
Free cash flow
FTV FY2018: $1.3BFTV FY2019: $1.2BFTV FY2020: $1.4BFTV FY2021: $911.1MFTV FY2022: $1.2BFTV FY2023: $1.3BFTV FY2024: $1.4BFTV FY2025: $978.1MKEYS FY2018: $423MKEYS FY2019: $878MKEYS FY2020: $899MKEYS FY2021: $1.1BKEYS FY2022: $959MKEYS FY2023: $1.2BKEYS FY2024: $898MKEYS FY2025: $1.3BFY18FY19FY20FY21FY22FY23FY24FY25
FTV $978.1MKEYS $1.3B

Fiscal years as each company reports them; the two may end in different months.

Questions about Fortive and Keysight Technologies

Which is bigger by revenue, Fortive or Keysight Technologies?

Keysight Technologies is bigger by revenue: $5.4B in fiscal 2025, against $4.2B for Fortive in fiscal 2025.

Which keeps more of its revenue as profit, Fortive or Keysight Technologies?

Fortive had a net margin of 13.9% in fiscal 2025; Keysight Technologies had 15.8% in fiscal 2025.

Which grew revenue faster, Fortive or Keysight Technologies?

In their latest fiscal years revenue changed by +1.9% at Fortive and +8.0% at Keysight Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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