Agilent Technologies Inc.

Laboratory Analytical Instruments

AMixed10 of 11 basics passed

$170.54

+1.41%

Market cap $48.1B

$170.54

+1.41%

Market cap $48.1B

Originally spun out of Hewlett-Packard in 1999, Agilent has evolved into a leading life science and diagnostic firm.

It is a $48.1B technology company. Revenue grew 8.6% over the last year, it keeps 20¢ of every dollar of sales as profit, and its net debt equals ~1.2 years of free cash flow. It trades at 33.4× earnings — in the most expensive third of its own history.

Website: agilent.com
Location: Santa Clara, CA
Employees: 18 200
Sector: Technology
Founded: 1999

Share price · 3 years

$113.29 → $170.54+50.5%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $7.37B
Profit: keeps 20¢ of every $1 sold; $1.44B
Free cash flow: cash left after running the business; $1.27B
Net debt: debt minus cash on hand; $1.56B
P/E: years of profit in the price; 33.4
EPS: earnings per share, TTM; $5.05
Dividend: pays out 20% of profit · 23% of FCF; 0.59%
Shares: down 13% since 2016 — buybacks; 285.0M
Volatility: beta vs the market — under 1 swings less; 1.25

Revenue, last 10 years

52-week range

Low $110.24$170.54High $175.21

Today's price is 93% of the way from the year's low to its high.

P/E vs its history5y

33.4×median 30.2×

Higher than 74% of past days — in the most expensive third of its own history.

Valuation vs own history

P/E

33.4×

24%

P/S

6.5×

16%

EV/EBITDA

28.5×

37%

P/B

6.5×

51%

FCF yield

2.6%

18%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

-$96.0Knet selling

Purchases$0

Sales$96.0K

Insiders trading, last 14d0 buy · 0 sell

Standing in Technology

Size$48.1Btop 33%
Revenue growth+0%top 84%
Net margin20%top 34%
Return on equity20%top 42%
P/E33.4×top 47%
Dividend yield0.59%top 63%

Ranked against 220 Technology companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Strong profitability, quality and moat; Valuation lags behind.

Valuation27

P/E vs own history74th pct · 5/25
FCF yield2.6% · 5/25
P/S6.5x · 12/25
EV/EBITDA26.3x · 5/25

Growth57

Revenue CAGR2.4% · 6/25
Net income CAGR1.9% · 6/25
EPS CAGR ~5Y14.7% · 20/25
Fwd implied growth33.8% · 25/25

Profitability80

ROIC16.8% · 20/25
ROE20.5% · 20/25
Net margin19.5% · 20/25
Operating margin22.2% · 20/25

Health62

Altman Zn/a · 0/25
Current ratio2.05 · 25/25
Interest coverage17.3x · 25/25
Net cash / debtD/A 12% · 12/25

Quality82

Piotroski F6/9 · 15/25
Beneish M-2.42 · 20/25
FCF conversion88% · 22/25
Margin stabilityσ 3.0% · 25/25

Moat88

ROIC >12% years9/10 yrs · 25/25
Median gross margin53.9% · 20/25
FCF-positive years10/10 yrs · 25/25
Worst-year net marginworst 6.4% · 18/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2025Financial
Best year on record
$1.30B net income
2020Product
Agilent introduced CrossLab Virtual Assist, a mobile app that facilities high-quality remote technical support
2019Acquisition
Agilent acquired US-based BioTek Instruments, a designer, manufacturer
FY2016Financial
Profitable every year on record
10 consecutive profitable years in our data
FY2016Financial
Revenue already above $1B
$4.20B in first reported year
FY2016Financial
Positive free cash flow every year since
10-year streak
Jul 7, 2016Acquisition
Agilent announced that it had acquired U.K. based Cobalt Light Systems
2016Milestone
Avago changed its name to Broadcom Limited
1999Founded
Agilent was established in 1999 as a spin-off from Hewlett-Packard
1999Product
Agilent Technologies was created in 1999 as a spin-off of several business units of Hewlett-Packard including test &…
1999Milestone
From 1999 to 2014, the company produced optics (LED, laser), semiconductors, EDA software and test and measurement…

Achievements

Verifiable track record, straight from the reported numbers.

#73 largest of 220 Technology companies by market cap

$10 000 invested in 2021 would be worth ~$9 911 today — price return only

$6.9B revenue in FY2025

Revenue up 8.6% year over year

Profitable 10 years in a row

Positive free cash flow 10 years in a row

18 200 employees

ROIC of 16.8%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (53.9%)
Strong cash conversion — FCF is 17.2% of revenue
Interest covered 17.3× by operating earnings
High returns on invested capital (ROIC 16.8%)

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

10 of 11 checks passed

Revenue growing — the company sells more than a year ago+8.6% YoY
Profitable — makes more than it spends$1.44B TTM
Profit growing — earnings are higher than last year+3.0% YoY
Generates cash — cash left after running and investing$1.27B TTM
Debt under control — could handle its obligations~1.2y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$48.1B market cap
Not printing shares — share count not ballooning — you keep your slice-8.7% shares over ~5y
Proven track record — years of profitability behind it10/10 profitable years
Financially stable — balance sheet not near distresshealth score 50/100
Pays a dividend — returns cash to shareholdersyield 0.59%
Valuation not extreme — price not wildly above earningsP/E 33.4

Peer comparisonAgilent Technologies Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
A this company	$48.1B	33.4	+8.6%	19.5%	Mixed
NVDA Nvidia Corp	$5.5T	28.6	+83.4%	63.7%	Mixed
AAPL Apple Inc.	$4.9T	38.1	+14.2%	27.6%	Strong
GOOGL Alphabet Inc.	$4.3T	17.6	+20.1%	54.8%	Mixed
MSFT Microsoft Corp	$4.0T	29.7	+17.8%	40.3%	Strong
SPCX Space Exploration Technologies Corp.	$2.1T	—	+33.2%	-34.0%	Strained
META Meta Platforms, Inc.	$1.8T	26.9	+27.7%	29.8%	Mixed

Head-to-head: A vs NVDA · A vs AAPL · A vs GOOGL

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 8Buy 15Hold 7

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $7.37B · net income $1.44B (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2025 revenue flows to profit

RevenueNet income

Revenue (TTM)

$7.37B

YoY 8.6%

Net income (TTM)

$1.44B

Margin 19.5%

Gross margin

53.9%

Operating margin

22.2%

P/E ratio

33.4

Dividend yield

0.59%

Income statement — full detail

Figures in USD billions · EPS in USD

	2020	2021	2022	2023	2024	2025
Revenue	5.3	6.3	6.8	6.8	6.5	6.9
Gross profit	2.8	3.4	3.7	3.5	3.5	3.6
Operating income (EBIT)	0.8	1.3	1.6	1.4	1.5	1.5
Net income	0.7	1.2	1.3	1.2	1.3	1.3
EPS (diluted)	2.30	3.94	4.18	4.19	4.43	4.57

Cash flowFree cash flow $1.27B · operating cash flow $1.61B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.27B

Margin 17.2%

Operating cash flow (TTM)

$1.61B

FCF margin

17.2%

Cash flow statement — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Operating cash flow	0.9	1.5	1.3	1.8	1.8	1.6
Capital expenditure	-0.1	-0.2	-0.3	-0.3	-0.4	-0.4
Free cash flow	0.8	1.3	1.0	1.5	1.4	1.2
FCF margin	15.0%	20.5%	14.9%	21.6%	21.1%	16.6%

Balance sheetAssets $12.7B · net debt $1.56B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $12.7B of assets is financed

47%

53%

Liabilities $5.99B — borrowed moneyEquity $6.74B — owners' stake

Cash vs debt

Total debt $3.35B − cash $1.79B = net debt $1.56B

Cash on hand covers 53% of debt.

Debt repayment

0.0 yrs

Years of free cash flow to clear net debt

Interest coverage

17.3x

EBIT ÷ interest expense

ROE

20.5%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2020	2021	2022	2023	2024	2025
Cash & equivalents	1.4	1.5	1.1	1.6	1.3	1.8
Total assets	9.6	10.7	10.5	10.8	11.8	12.7
Total liabilities	4.8	5.3	5.2	4.9	5.9	6.0
Total debt	2.4	2.7	2.8	2.7	3.4	3.4
Equity	4.9	5.4	5.3	5.8	5.9	6.7
Net debt	0.9	1.2	1.7	1.1	2.1	1.6

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of A on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $170.54 · market cap $48.1B.