KEYS Keysight Technologies Inc. Common Stock
About Keysight Technologies Inc. Common Stock Company overview from Wikipedia
Keysight Technologies, Inc. is a global company headquartered in Santa Rosa, California, that manufactures hardware and software for engineering workflows across design, test, and emulation. It serves industries including communications (5G/6G/NTN), aerospace and defense, AI/data center networking, automotive, semiconductors, digital healthcare, quantum computing, and energy.
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Keysight Technologies, Inc. is a global company headquartered in Santa Rosa, California, that manufactures hardware and software for engineering workflows across design, test, and emulation. It serves industries including communications (5G/6G/NTN), aerospace and defense, AI/data center networking, automotive, semiconductors, digital healthcare, quantum computing, and energy.
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 1930s to the turn of the millennium, by Hewlett-Packard. Its name is a portmanteau of key and insight.
Since 2022, Satish Dhanasekaran has served as Keysight's CEO and president. Additional C-level executives include Neil Dougherty (CFO), Jason Kary (President, Electronic Industrial Solutions Group), and Kailash Narayanan (President, Communications Solutions Group).
Through expansions and acquisitions, the S&P 500-indexed company has grown beyond its initial focus on oscilloscopes to produce electronic design automation (EDA) software, network visibility and cybersecurity solutions, manufacturing technology, and system-level simulation platforms. It also works closely with more than 35 international engineering standards bodies to develop new standards and ensure accurate tests.
Products
Keysight's products include engineering hardware and software for a variety of form factors including benchtop, modular, and field instruments, for applications throughout the engineering lifecycle.
Keysight’s portfolio of test instruments includes:
Digital test instruments
Oscilloscopes, including the recently launched HD3 and XR8, as well as 110-GHz bandwidth UXR model
Sampling oscilloscopes
Digital multimeters
Bit error rate testers (BERTs), digitizers, and data acquisition systems (DAQs)
Digital protocol and logic analyzers
Waveform and function generators
Photonic and quantum instruments
Photonic test
Optical test
Quantum design, test, and control, including the world’s largest commercial Quantum Control System at the National Institute of Advanced Industrial Science and Technology (AIST) G-QuAT in Japan
Power test instruments, including high-power ATE system power supplies, including regenerative models, up to 12 kW
AC power supplies
DC power supplies
DC electronic loads
Power analyzers
Source measure units
EV charging and grid test systems
Radio-frequency (RF) test instruments
LCR meters and impedance analyzers
Signal, spectrum, and wireless analyzers, including the FieldFox D-Series handheld analyzer with 120-MHz gap-free IQ data transfer
Noise figure and phase noise analyzers
Signal sources
RF vector transceivers
Network analyzers
RF power meters
Keysight's design engineering software includes:
PathWave electronic design automation engineering software
Chiplet interconnect design
Engineering data management
Software quality engineering
Computer aided engineering
Optical design engineering
Instrument measurement software
Application software testing
Keysight's portfolio of emulators includes:
IP traffic emulators
Ethernet traffic emulation
Network emulators
Interconnect test up to 3.2 Tbps
Wireless emulators
Channel emulators
UE, RAN, and core emulators
Cellular device testing
WLAN and Internet of Things (IoT) testing
Over-the-air (OTA) testing
Non-terrestrial network (NTN) emulators
Automotive emulators
EV emulators
Autonomous drive testing
Automotive communications testing
Security testing emulators
Security attack
Security device testing
Vulnerability assessment
Keysight’s manufacturing and operations products include:
Network operations monitoring
Network visibility equipment
Network application monitoring
5G NR base station test
Network modeling
Application and threat intelligence
Semiconductor and manufacturing
Semiconductor test
In-circuit test for manufacturing
Additional products and solutions include:
Keysight AI (KAI) Data Center Builder (AI data center workload emulation solution)
Laser interferometer and calibration
Monolithic laser combiners
Parametric test systems
Monolithic microwave integrated circuit (MMIC) millimeter-wave and microwave devices
Cyber training and security operations
Automotive body in white (BIW) simulator
AI data management, readiness, and compliance
Keysight serves a broad scope of advanced industries, including:
Wireless telecommunications, 5G, and 6G
Aerospace and defense
Artificial intelligence, data centers, and wireline
Digital healthcare
Grid and energy, including EV charging
Quantum and computing
Semiconductor
Automotive
Keysight also serves engineering education and universities, including the Institute of Electrical and Electronics Engineers (IEEE), with instruments, software, training, and labs. This includes its education-focused Keysight Digital Learning Suite.
History
Acquisitions
In the same year of its spin-off from Agilent (2014), Keysight expanded its multi-vendor calibration offerings by finalizing the acquisition of Primary Standards North America. Keysight acquired British electronic measurement instrument maker Anite in 2015 for £388 million ($607 million). It also purchased U.K.-based calibration company Electroservices Enterprises the same year. In 2016, it acquired Signadyne, a quantum-focused modular measuring equipment company incubated by the ICFO (Institute of Photonic Sciences).
In 2017, Keysight acquired data technology company Ixia, including its network security solution BreakingPoint, for about $US1.6 billion in cash. It acquired Scienlab electronic systems GmbH, including its China division, in 2017 for $62 million. Expanding its calibrations services even further, the company acquired Liberty Calibration in 2017 and Melbourne-based Thales Calibration Services in 2018. Additionally, Keysight acquired Prisma Telecom Testing Srl in 2019 for $90 million.
The company acquired British software testing company Eggplant Software from The Carlyle Group for $330 million in 2020. In March of that year, it also acquired quantum computing instrument control and lab automation software company, Labber.
From 2019 to 2021, the company focused on 5G, introducing advanced products such as the Infiniium UXR-Series oscilloscopes. It acquired California-based Scalable Network Technologies in 2021 to expand its software and digital twin capabilities. The same year, Keysight also acquired Sanjole, a Hawaiian technology firm focused on testing wireless data networks, German EV charging test company Verisco GmbH, as well as quantum computing testing company Quantum Benchmark.
Keysight invested in quantum, high-speed digital/6G, and software-defined vehicle tech, respectively, in 2022 with acquisitions of QuaMotion, Micram Microelectronic GmbH, and NORDSYS.
In 2023, the company acquired France-based ESI Group for approximately $1 billion, as well as Cliosoft, Inc., data property management platform, for $85 million.
Keysight outbid Viavi Solutions in 2024 to acquire British telecommunications testing company Spirent for $1.5 billion. That June, the US Department of Justice required the company to divest three of Spirent's businesses prior to closing the sale, due to antitrust concerns. The sale closed October 15, 2025, including the regulatory required spin-off of three divisions.
Keysight acquired multiple other companies in 2024, including AnaPico, a Swiss RF and microwave test and measurement company, for $117 million. It also acquired Riscure, automated device and semiconductor security company, for $78 million, and Easics, a Belgian ASIC chip design services company.
Keysight acquired Synopsys Optical Solutions Group, an optical design and analysis software platform, from Synopsys, Inc., and PowerArtist, an RTL (Register-transfer level) power consumption analysis tool, from Ansys, Inc., in 2025. The Synopsys Optical Solutions Group acquisition expanded Keysight's capabilities in imaging systems design, illumination design, and automotive lighting design, plus virtual prototyping and electromagnetic photonic and optoelectronic simulation. PowerArtist expanded Keysight's role in semiconductor design with early-stage power analysis.
Controversies
On August 3, 2021, Keysight entered into a consent agreement with the Directorate of Defense Trade Controls, Bureau of Political-Military Affairs, Department of State ("DTCC") to resolve alleged violations of the Arms Export Control Act and the International Traffic in Arms Regulations ("ITAR"), after agreeing to a $6.6 million fine. On May 3, 2024, Keysight submitted a letter to the DTCC certifying that it had implemented all aspects of the consent agreement and that the company's compliance program was adequate to identify, prevent, detect, correct, and report violations of the ITAR.
In its 2024 Corporate Social Responsibility Progress Report, Keysight claimed successful completion of the consent agreement and the formal closure of the matter with the DTCC. It continues to provide ITAR data handling support for its customers with EDA (electronic design automation) support agreements.
Research and development
From its launch in 2014 until 2020, Keysight increased its investment in R&D from approximately 12% to 16%, a percentage increase that represented almost a doubling of the investment in absolute dollars. In 2025, Keysight's research and development expenses reached $1.007B, a 9.58% increase over the previous year ($919M in 2024). Keysight's research and development budget has consistently increased annually since its 2014 spin-off from Agilent Technologies. Its current focus is on enabling technologies, system design, simulation, and measurement, with R&D distributed throughout the US, Singapore, India, Germany, Malaysia, Romania, China, Japan, Spain, United Kingdom, and France.
In 2024, Keysight collaborated with Google Quantum AI to introduce the industry's first quantum circuit simulation with flux quantization, representing a breakthrough in quantum computing and superconducting circuit design. This was followed in 2025 by Keysight's delivery of a quantum control system to the National Institute of Advanced Industrial Science and Technology (AIST) in Japan capable of supporting over 1,000 qubits, as part of the organizations’ ongoing quantum research.
Keysight focuses R&D efforts on AI data center infrastructure and networking technologies, including a 2025 survey report conducted by Heavy Reading on the infrastructure challenges facing AI advancements. Keysight collaborated with McGill University, Ciena, and Hyperlight on the industry's first demonstration of 448G PAM4 driverless optical transmission in 2025, which was also demonstrated at the European Exhibition on Optical Communications (ECOC) [link] and through collaboration with NTT Innovative Devices and Lumentum at an Optical Fiber Communications Conference (OFC) demonstration the same year.
Keysight is also advancing research in non-terrestrial networks (NTN) that integrate satellite and terrestrial communications for future 5G and 6G communications. In 2026, Keysight collaborated with Airbus UpNext on the SpaceRAN demonstrator to validate 5G NTN capabilities using software-defined satellite technology. The company also works with Samsung Electronics to validate new NR-NTN devices using its 5G Network Emulator, supporting satellite-to-mobile connectivity aligned with emerging low-Earth-orbit (LEO) constellations such as Starlink.
Recognition
Keysight won the 2014 Global Frost & Sullivan award for market leadership with $300 million in instrumentation software revenue, with its R&D investment of 12% of revenue ($365 million in 2013) cited as an important factor.
Keysight was ranked No. 46th on Fortune's 100 Best Companies to Work For list in 2022.
In 2023, Keysight was recognized by Forbes as #5 of America's Best Midsize Employers and #123 of America's Most Cybersecure Companies. In 2024, it ranked Keysight #8 of America's Best Employers for Diversity.
Keysight won the Frost & Sullivan Best Practices Award in 2024 for New Product Innovation, Keysight Network Packet Brokers, and in 2025 for Global 6G Test and Measurement Company of the Year, Excellence in 6G Test and Measurement.
Time ranked the company #127th of 500 on its Worlds Most Sustainable Companies of 2025 list.
Keysight was named 2025 winner of the Excellence in Omnichannel Customer Experience Optimization Award by TSIA (Technology & Services Industry Association).
Forbes named Keysight #599 on its list of World's Best Employers 2025 and #188 on its list of the World's Most Trusted Companies in America 2026.
Keysight was named a Leader in the 2025 Gartner® Magic Quadrant™ for AI-Augmented Software Testing Tools for its Eggplant software including automated test design, real-time visual validation, and trusted deployment (Iron Bank Certification) capabilities.
Newsweek in 2026 named Keysight #13 of America's Most Responsible Companies and awarded it 4.5 out of 5 stars on its list of America's Greenest Companies.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
KEYS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
KEYS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
KEYS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 5 26.3%
- Buy 11 57.9%
- Hold 3 15.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
12 analysts · 2026-08-13Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Sept. 30, 2026 | $3.07 | $2.52 | — |
| June 30, 2026 | $2.87 | $2.37 | 0.50% |
| March 31, 2026 | $2.17 | $2.04 | 0.13% |
| Dec. 31, 2025 | $1.91 | $1.87 | 0.04% |
| Sept. 30, 2025 | $1.72 | $1.70 | 0.02% |
| June 30, 2025 | $1.70 | $1.68 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| KEYS | $36.97B | 37.3 | 8.0% | 15.8% | 15.5% | — |
| TDY | $23.89B | 27.4 | 7.9% | 14.6% | 8.6% | — |
| ZBRA | $12.04B | 29.7 | 8.3% | 7.8% | 11.6% | 48.0% |
| AEIS | $7.91B | 54.5 | 21.4% | 8.2% | 11.3% | 37.7% |
| CGNX | $6.01B | 52.9 | 8.7% | 11.5% | 7.6% | 66.9% |
| RAL | $5.75B | -4.7 | -4.0% | -59.1% | -52.3% | 50.3% |
| NOVT | $4.24B | 80.9 | 3.3% | 5.5% | 5.2% | 44.4% |
| VNT | $5.29B | 13.5 | 3.2% | 13.2% | 35.4% | — |
| ITRI | $4.17B | 14.3 | -3.0% | 12.7% | 19.4% | 37.7% |
| MIR | — | 212.9 | 7.5% | 3.1% | 1.7% | 47.4% |
| OSIS | $3.78B | 25.8 | 11.3% | 8.7% | 16.8% | 34.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.38B | $4.98B | $5.46B | $5.42B | $4.94B | $4.22B | $4.30B | $3.88B | $3.19B | $2.92B | $2.86B | $2.93B | |
| Cost of Revenue | $2.04B | $1.85B | $1.93B | $1.97B | $1.87B | $1.69B | $1.77B | $1.77B | $1.49B | $1.29B | $1.27B | $1.31B | |
| R&D Expense | $1.01B | $919M | $882M | $841M | $811M | $715M | $688M | $624M | $507M | $425M | $387M | $361M | |
| SG&A Expense | $1.47B | $1.40B | $1.31B | $1.28B | $1.20B | $1.10B | $1.16B | $1.21B | $1.06B | $818M | $787M | $790M | |
| Operating Expenses | $4.50B | $4.15B | $4.11B | $4.09B | $3.86B | $3.46B | $3.59B | $4.27B | $3.04B | $2.51B | $2.42B | $2.46B | |
| Operating Income | $876M | $833M | $1.36B | $1.33B | $1.08B | $765M | $711M | $-394M | $148M | $406M | $431M | $469M | |
| Interest Expense | $96M | $84M | $78M | $79M | $79M | $78M | $80M | $83M | $80M | $47M | $46M | $3M | |
| Interest Income | $102M | $81M | $102M | $16M | $3M | $11M | $23M | $12M | $7M | $3M | $1M | $0 | |
| Other Non-op | $200M | $35M | $-25M | $14M | $6M | $63M | $61M | $54M | $104M | $4M | $2M | $9M | |
| Pretax Income | $1.08B | $865M | $1.36B | $1.28B | $1.01B | $761M | $715M | $735M | $598M | $546M | $559M | $601M | |
| Income Tax | $213M | $251M | $300M | $161M | $116M | $134M | $94M | $-576M | $77M | $31M | $-125M | $83M | |
| Net Income | $850M | $614M | $1.06B | $1.12B | $894M | $627M | $621M | $165M | $102M | $335M | $513M | $392M | |
| EPS (Basic) | $4.93 | $3.53 | $5.95 | $6.23 | $4.84 | $3.35 | $3.31 | $0.88 | $0.57 | $1.97 | $3.04 | $2.35 | |
| EPS (Diluted) | $4.91 | $3.51 | $5.91 | $6.18 | $4.78 | $3.31 | $3.25 | $0.86 | $0.56 | $1.95 | $3.00 | $2.35 | |
| Shares (Basic) | 172,000,000 | 174,000,000 | 178,000,000 | 180,000,000 | 185,000,000 | 187,000,000 | 188,000,000 | 187,000,000 | 180,000,000 | 170,000,000 | 169,000,000 | 167,000,000 | |
| Shares (Diluted) | 173,000,000 | 175,000,000 | 179,000,000 | 182,000,000 | 187,000,000 | 189,000,000 | 191,000,000 | 191,000,000 | 182,000,000 | 172,000,000 | 171,000,000 | 167,000,000 | |
| EBITDA | $876M | $833M | $1.36B | $1.33B | $1.08B | $765M | $711M | $-346M | $464M | $540M | · | · |
Balance Sheet 30
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.87B | $1.80B | $2.47B | $2.04B | $2.05B | $1.76B | $1.60B | $913M | $818M | $783M | $483M | $810M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Receivables | $939M | $857M | $900M | $905M | $735M | $606M | $668M | $624M | $547M | $437M | $398M | $357M | |
| Inventory | $1.05B | $1.02B | $985M | $858M | $777M | $757M | $705M | $619M | $588M | $474M | $487M | $498M | |
| Prepaid Expense | $486M | $582M | $452M | $429M | $270M | · | · | · | · | · | · | · | |
| Other Current Assets | $201M | $157M | $124M | $149M | $102M | $255M | $244M | $222M | $224M | $160M | $137M | $79M | |
| Current Assets | $4.35B | $4.26B | $4.81B | $4.23B | $3.83B | $3.37B | $3.21B | $2.38B | $2.18B | $1.85B | $1.58B | $1.85B | |
| PP&E (Net) | $795M | $774M | $761M | $690M | $650M | $595M | $576M | $555M | $530M | $512M | $518M | $470M | |
| PP&E (Gross) | $2.60B | $2.48B | $2.38B | $2.23B | $2.17B | $2.03B | $1.92B | $1.83B | $1.75B | $1.68B | $1.63B | $1.55B | |
| Accum. Depreciation | $1.80B | $1.71B | $1.62B | $1.54B | $1.52B | $1.44B | $1.35B | $1.28B | $1.22B | $1.16B | $1.11B | $1.08B | |
| Goodwill | $3.42B | $2.39B | $1.64B | $1.58B | $1.63B | $1.54B | $1.21B | $1.17B | $1.88B | $736M | $700M | $392M | |
| Intangibles | $1.30B | $607M | $155M | $189M | $272M | $361M | $490M | $645M | $855M | $208M | $246M | $18M | |
| Other Non-current Assets | $610M | $521M | $340M | $454M | $389M | $368M | $332M | $279M | $240M | $39M | $100M | $94M | |
| Total Assets | $11.30B | $9.27B | $8.68B | $8.10B | $7.78B | $7.22B | $6.62B | $5.82B | $5.93B | $3.80B | $3.51B | $3.05B | |
| Accounts Payable | $355M | $313M | $286M | $348M | $287M | $224M | $253M | $242M | $211M | $189M | $209M | $173M | |
| Current Liabilities | $1.85B | $1.43B | $2.05B | $1.41B | $1.31B | $1.08B | $1.00B | $1.46B | $819M | $644M | $686M | $769M | |
| Capital Leases | $193M | $197M | $192M | $186M | $191M | $149M | $0 | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $1M | $15M | $2M | |
| Other Non-current Liabilities | $536M | $463M | $313M | $296M | $352M | $365M | $295M | $287M | $356M | $69M | $80M | $131M | |
| Total Liabilities | $5.42B | $4.16B | $4.03B | $3.94B | $4.00B | $3.92B | $3.62B | $3.39B | $3.62B | $2.28B | $2.21B | $2.28B | |
| Long-term Debt | $2.53B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.29B | $2.04B | $1.09B | · | · | |
| Total Debt | $2.53B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $1.79B | $2.05B | $1.10B | · | · | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Paid-in Capital | $2.85B | $2.66B | $2.49B | $2.33B | $2.22B | $2.11B | $2.01B | $1.89B | $1.79B | $1.24B | $1.17B | $1.00B | |
| Retained Earnings | $7.08B | $6.22B | $5.61B | $4.55B | $3.43B | $2.54B | $1.91B | $1.21B | $1.04B | $949M | $614M | $101M | |
| Treasury Stock | $3.80B | $3.42B | $2.98B | $2.27B | $1.43B | $752M | $342M | $182M | $62M | $62M | $0 | · | |
| AOCI | $-248M | $-364M | $-466M | $-454M | $-442M | $-599M | $-578M | $-488M | $-457M | $-618M | $-479M | $-336M | |
| Stockholders' Equity | $5.88B | $5.11B | $4.65B | $4.16B | $3.78B | $3.30B | $3.00B | $2.43B | $2.31B | $1.51B | $1.30B | $769M | |
| Liabilities + Equity | $11.30B | $9.27B | $8.68B | $8.10B | $7.78B | $7.22B | $6.62B | $5.82B | $5.93B | $3.80B | $3.51B | $3.05B | |
| Shares Outstanding | 202,080,000 | 201,008,000 | 199,771,000 | 198,569,000 | 197,248,000 | 195,661,000 | 193,769,000 | 191,204,000 | 188,310,000 | · | 170,000,000 | 167,000,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | $225M | $134M | $99M | $84M | |
| Stock-based Comp | $162M | $137M | $135M | $125M | $103M | $92M | $82M | $59M | $56M | $49M | $55M | $43M | |
| Deferred Tax | $-116M | $268M | $-3M | $7M | $-53M | $41M | $-2M | $-789M | $-47M | $17M | $-163M | $23M | |
| Amort. of Intangibles | $137M | $138M | $90M | $103M | $174M | $220M | $210M | $204M | $131M | $43M | $15M | $8M | |
| Restructuring | · | · | · | · | · | · | · | · | $12M | $0 | $16M | $-3M | |
| Other Non-cash | · | · | · | · | · | · | · | · | $-23M | $-119M | · | · | |
| Operating Cash Flow | $1.41B | $1.05B | $1.41B | $1.14B | $1.32B | $1.02B | $998M | $555M | $328M | $420M | $376M | $563M | |
| CapEx | $128M | $154M | $197M | $185M | $174M | $117M | $120M | $132M | $72M | $91M | $92M | $70M | |
| Investing Cash Flow | $-1.73B | $-819M | $-288M | $-251M | $-353M | $-442M | $-196M | $-108M | $-1.72B | $-90M | $-671M | $-82M | |
| Stock Issued | · | · | · | · | · | · | $0 | $0 | $444M | $0 | $0 | · | |
| Stock Repurchased | $375M | $439M | $702M | $849M | $673M | $411M | $159M | $120M | $0 | $62M | $0 | $0 | |
| Net Stock Activity | $-375M | $-439M | $-702M | $-849M | $-673M | $-411M | $-159M | $-120M | $444M | $-62M | · | · | |
| Financing Cash Flow | $385M | $-913M | $-687M | $-861M | $-671M | $-413M | $-122M | $-341M | $1.43B | $-29M | $-19M | $335M | |
| Net Change in Cash | $76M | $-674M | $431M | $-11M | $301M | $167M | $683M | $97M | $35M | $300M | $-327M | $810M | |
| Taxes Paid | $120M | $146M | $343M | $191M | $130M | $84M | $103M | $27M | $121M | $23M | $40M | $4M | |
| Free Cash Flow | $1.28B | $898M | $1.21B | $959M | $1.15B | $899M | $878M | $423M | $241M | $325M | · | · | |
| Levered FCF | $1.20B | $838M | $1.15B | $890M | $1.08B | $831M | $805M | $279M | $171M | $281M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 16.3% | 16.7% | 24.9% | 24.6% | 21.9% | 18.1% | 16.5% | -8.9% | 7.5% | 13.9% | · | · | |
| Net Margin | 15.8% | 12.3% | 19.3% | 20.7% | 18.1% | 14.8% | 14.4% | 4.2% | 3.2% | 11.5% | · | · | |
| Pretax Margin | 20.1% | 17.4% | 24.8% | 23.7% | 20.4% | 25.3% | 24.1% | 20.2% | 19.4% | 18.7% | · | · | |
| EBITDA Margin | 16.3% | 16.7% | 24.9% | 24.6% | 21.9% | 18.1% | 16.5% | -8.9% | 14.5% | 18.5% | · | · | |
| ROA | 8.3% | 6.8% | 12.6% | 14.2% | 11.9% | 9.1% | 10.0% | 2.8% | 2.1% | 9.2% | · | · | |
| ROE | 15.5% | 12.6% | 24.0% | 28.3% | 25.2% | 19.9% | 22.8% | 7.0% | 5.3% | 23.8% | · | · | |
| ROIC | 8.4% | 8.6% | 16.4% | 19.6% | 17.2% | 13.2% | 13.5% | -14.2% | 4.8% | 14.7% | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.4 | 3.0 | 2.3 | 3.0 | 2.9 | 3.1 | 3.2 | 1.6 | 2.7 | 2.9 | · | · | |
| Quick Ratio | 1.5 | 1.9 | 1.6 | 2.1 | 2.1 | 2.2 | 2.3 | 1.1 | 1.7 | 1.9 | · | · | |
| Debt / Equity | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | 0.5 | 0.6 | 0.7 | 0.9 | 0.7 | · | · | |
| LT Debt / Equity | 0.4 | 0.4 | 0.3 | 0.4 | 0.5 | 0.5 | 0.6 | 0.5 | 0.9 | 0.7 | · | · | |
| Interest Coverage | 9.1 | 9.9 | 17.4 | 16.9 | 13.7 | 9.8 | 8.9 | -4.2 | 3.0 | 8.6 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.6 | 0.7 | 0.7 | 0.7 | 0.6 | 0.7 | 0.7 | 0.7 | 0.8 | · | · | |
| Inventory Turnover | 2.0 | 1.8 | 2.1 | 2.4 | 2.4 | 2.3 | 2.7 | 2.9 | 2.8 | 2.7 | · | · | |
| Receivables Turnover | 6.0 | 5.7 | 6.1 | 6.6 | 7.4 | 6.6 | 6.6 | 6.6 | 6.5 | 7.0 | · | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.0% | -8.9% | 0.81% | 9.7% | 17.1% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -0.28% | 0.26% | 9.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 39.9% | -40.6% | -4.4% | 29.3% | 44.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -7.4% | -9.8% | 21.3% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 8.2% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 38.4% | -41.9% | -6.0% | 25.7% | 42.6% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -8.9% | -11.8% | 19.0% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 6.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.38B | $4.98B | $5.46B | $5.42B | $4.94B | $4.22B | $4.30B | $3.88B | $3.19B | $2.92B | $2.86B | $2.93B | |
| Net Income TTM | $850M | $614M | $1.06B | $1.12B | $894M | $627M | $621M | $165M | $102M | $335M | $513M | $392M | |
| Market Cap | $36.97B | $29.95B | $24.38B | $34.58B | $35.51B | $20.52B | · | · | · | · | · | · | |
| Enterprise Value | $37.63B | $29.95B | $23.70B | $34.33B | $35.25B | $20.55B | · | · | · | · | · | · | |
| P/E | 37.3 | 42.5 | 20.7 | 28.2 | 37.7 | 31.7 | 31.0 | 66.4 | 79.8 | 16.8 | 11.0 | 13.4 | |
| P/S | 6.9 | 6.0 | 4.5 | 6.4 | 7.2 | 4.9 | · | · | · | · | · | · | |
| P/B | 6.3 | 5.9 | 5.2 | 8.3 | 9.4 | 6.2 | · | · | · | · | · | · | |
| P / Tangible Book | 32.1 | 14.2 | 8.5 | 14.5 | 18.8 | 14.7 | · | · | · | · | · | · | |
| P / Cash Flow | 26.2 | 28.5 | 17.3 | 30.2 | 26.9 | 20.2 | · | · | · | · | · | · | |
| P / FCF | 28.9 | 33.4 | 20.1 | 36.1 | 30.9 | 22.8 | · | · | · | · | · | · | |
| EV / EBITDA | 43.0 | 35.9 | 17.5 | 25.7 | 32.6 | 26.9 | · | · | · | · | · | · | |
| EV / FCF | 29.4 | 33.3 | 19.6 | 35.8 | 30.7 | 22.9 | · | · | · | · | · | · | |
| EV / Revenue | 7.0 | 6.0 | 4.3 | 6.3 | 7.1 | 4.9 | · | · | · | · | · | · | |
| Earnings Yield | 2.7% | 2.4% | 4.8% | 3.5% | 2.7% | 3.2% | 3.2% | 1.5% | 1.2% | 5.9% | 9.1% | 7.5% |
Income Statement 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.72B | $1.60B | $1.42B | $1.35B | $1.31B | $1.30B | $1.29B | $1.22B | $1.22B | $1.26B | $1.31B | $1.38B | $1.39B | $1.38B | $1.44B | $1.38B | |
| Cost of Revenue | $539M | $605M | $550M | $518M | $492M | $478M | $485M | $462M | $453M | $446M | $467M | $486M | $481M | $498M | $533M | $499M | |
| R&D Expense | $320M | $303M | $258M | $250M | $250M | $249M | $233M | $226M | $228M | $232M | $218M | $215M | $222M | $227M | $215M | $206M | |
| SG&A Expense | $456M | $447M | $399M | $354M | $360M | $361M | $343M | $329M | $361M | $362M | $313M | $319M | $337M | $338M | $321M | $317M | |
| Operating Expenses | $1.31B | $1.35B | $1.20B | $1.12B | $1.10B | $1.08B | $1.06B | $1.01B | $1.04B | $1.04B | $994M | $1.02B | $1.04B | $1.06B | $1.06B | $1.02B | |
| Operating Income | $407M | $248M | $217M | $234M | $207M | $218M | $230M | $205M | $177M | $221M | $317M | $365M | $354M | $322M | $379M | $357M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $20M | $20M | $19M | $20M | $19M | $20M | $20M | |
| Interest Income | $18M | $16M | $31M | $31M | $21M | $19M | $21M | $19M | $18M | $23M | $32M | $29M | $22M | $19M | $10M | $4M | |
| Other Non-op | $18M | $-37M | $102M | $4M | $112M | $-18M | $20M | $10M | $0 | $5M | $-53M | $14M | $5M | $9M | $-1M | $5M | |
| Pretax Income | $418M | $198M | $322M | $241M | $320M | $199M | $248M | $213M | $175M | $229M | $276M | $389M | $361M | $331M | $368M | $346M | |
| Income Tax | $69M | $-83M | $70M | $50M | $63M | $30M | $321M | $-176M | $49M | $57M | $50M | $101M | $78M | $71M | $69M | $8M | |
| Net Income | $349M | $281M | $233M | $191M | $257M | $169M | $-73M | $389M | $126M | $172M | $226M | $288M | $283M | $260M | $299M | $338M | |
| EPS (Basic) | $2.04 | $1.64 | $1.36 | $1.11 | $1.49 | $0.97 | $-0.41 | $2.23 | $0.73 | $0.98 | $1.28 | $1.62 | $1.59 | $1.46 | $1.67 | $1.89 | |
| EPS (Diluted) | $2.02 | $1.63 | $1.35 | $1.10 | $1.49 | $0.97 | $-0.41 | $2.22 | $0.72 | $0.98 | $1.27 | $1.61 | $1.58 | $1.45 | $1.66 | $1.87 | |
| Shares (Basic) | 171,000,000 | 172,000,000 | -345,000,000 | 172,000,000 | 172,000,000 | 173,000,000 | -349,000,000 | 174,000,000 | 174,000,000 | 175,000,000 | -356,000,000 | 178,000,000 | 178,000,000 | 178,000,000 | -363,000,000 | 179,000,000 | |
| Shares (Diluted) | 173,000,000 | 173,000,000 | -347,000,000 | 173,000,000 | 173,000,000 | 174,000,000 | -351,000,000 | 175,000,000 | 175,000,000 | 176,000,000 | -359,000,000 | 179,000,000 | 179,000,000 | 180,000,000 | -366,000,000 | 181,000,000 | |
| EBITDA | $407M | $248M | · | $234M | $207M | $218M | · | $205M | $177M | $221M | · | $365M | $354M | $322M | · | $357M |
Balance Sheet 28
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.41B | $2.18B | $1.87B | $2.64B | $3.12B | $2.06B | $1.80B | $1.63B | $1.66B | $1.75B | · | $2.57B | $2.50B | $2.23B | · | $1.85B | |
| Receivables | $1.02B | $914M | $939M | $692M | $744M | $797M | $857M | $802M | $809M | $808M | · | $893M | $864M | $920M | · | $882M | |
| Inventory | $1.04B | $1.05B | $1.05B | $1.02B | $1.03B | $1.04B | $1.02B | $1.03B | $1.02B | $1.02B | · | $975M | $948M | $909M | · | $837M | |
| Prepaid Expense | $570M | $561M | $486M | $1.25B | $578M | $560M | $582M | $536M | $482M | $499M | · | $462M | $454M | $441M | · | · | |
| Other Current Assets | $199M | $175M | $166M | $192M | $163M | $118M | $157M | $208M | $169M | $197M | · | $137M | $137M | $146M | · | $395M | |
| Current Assets | $5.04B | $4.70B | $4.35B | $5.60B | $5.47B | $4.46B | $4.26B | $4.00B | $3.97B | $4.08B | · | $4.90B | $4.76B | $4.50B | · | $3.96B | |
| PP&E (Net) | $741M | $757M | $795M | $766M | $769M | $764M | $774M | $776M | $769M | $771M | · | $754M | $746M | $728M | · | $668M | |
| PP&E (Gross) | · | · | $2.60B | · | · | · | $2.48B | · | · | · | · | · | · | · | · | $2.22B | |
| Accum. Depreciation | · | · | $1.80B | · | · | · | $1.71B | · | · | · | · | · | · | · | · | $1.55B | |
| Goodwill | $3.46B | $3.47B | $3.42B | $2.43B | $2.43B | $2.35B | $2.39B | $2.39B | $2.28B | $2.25B | $1.64B | $1.66B | $1.66B | $1.61B | $1.58B | $1.61B | |
| Intangibles | $1.17B | $1.25B | $1.30B | $524M | $556M | $556M | $607M | $637M | $609M | $616M | · | $175M | $198M | $166M | · | $216M | |
| Other Non-current Assets | $592M | $592M | $610M | $555M | $568M | $521M | $521M | $504M | $351M | $355M | · | $366M | $364M | $469M | · | $442M | |
| Total Assets | $11.74B | $11.48B | $11.30B | $10.65B | $10.54B | $9.39B | $9.27B | $9.32B | $8.99B | $9.06B | · | $8.83B | $8.71B | $8.45B | · | $7.85B | |
| Accounts Payable | $392M | $334M | $355M | $342M | $317M | $289M | $313M | $280M | $268M | $281M | · | $289M | $302M | $325M | · | $328M | |
| Current Liabilities | $2.65B | $1.80B | $1.85B | $1.56B | $1.61B | $1.51B | $1.43B | $1.95B | $1.99B | $2.12B | · | $1.34B | $1.42B | $1.47B | · | $1.31B | |
| Capital Leases | $176M | $186M | $193M | $183M | $187M | $187M | $197M | $197M | $201M | $198M | · | $186M | $188M | $186M | · | $192M | |
| Other Non-current Liabilities | $423M | $439M | $536M | $413M | $425M | $426M | $463M | $473M | $416M | $441M | · | $320M | $316M | $322M | · | $305M | |
| Total Liabilities | $5.41B | $5.28B | $5.42B | $4.98B | $5.06B | $4.20B | $4.16B | $4.09B | $4.08B | $4.24B | · | $3.93B | $4.00B | $4.04B | · | $3.93B | |
| Long-term Debt | $2.53B | $2.53B | $2.53B | $2.53B | $2.53B | $1.79B | $1.79B | $1.80B | $1.79B | $1.82B | · | · | · | · | · | · | |
| Total Debt | $2.53B | $2.53B | · | $2.53B | $2.53B | $1.79B | · | $1.80B | $1.79B | $1.82B | · | $1.79B | $1.79B | $1.79B | · | $1.79B | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Paid-in Capital | $2.98B | $2.93B | $2.85B | $2.82B | $2.77B | $2.73B | $2.66B | $2.64B | $2.58B | $2.55B | · | $2.46B | $2.40B | $2.38B | · | $2.31B | |
| Retained Earnings | $7.71B | $7.36B | $7.08B | $6.84B | $6.65B | $6.39B | $6.22B | $6.30B | $5.91B | $5.78B | $5.61B | $5.38B | $5.10B | $4.81B | · | $4.25B | |
| Treasury Stock | $4.11B | $3.89B | $3.80B | $3.70B | $3.65B | $3.50B | $3.42B | $3.27B | $3.12B | $3.07B | $2.98B | $2.55B | $2.40B | $2.40B | · | $2.15B | |
| AOCI | $-250M | $-199M | $-248M | $-295M | $-293M | $-443M | $-364M | $-437M | $-469M | $-442M | · | $-402M | $-399M | $-391M | · | $-500M | |
| Stockholders' Equity | $6.33B | $6.21B | $5.88B | $5.67B | $5.48B | $5.19B | $5.11B | $5.23B | $4.90B | $4.82B | · | $4.90B | $4.71B | $4.40B | · | $3.92B | |
| Liabilities + Equity | $11.74B | $11.48B | $11.30B | $10.65B | $10.54B | $9.39B | $9.27B | $9.32B | $8.99B | $9.06B | · | $8.83B | $8.71B | $8.45B | · | $7.85B | |
| Shares Outstanding | 202,773,000 | 202,736,000 | 202,080,000 | 202,074,000 | 201,704,000 | 201,681,000 | 201,008,000 | 200,970,000 | 200,655,000 | 200,621,000 | 199,771,000 | 199,748,000 | 199,398,000 | 199,382,000 | 198,569,000 | 198,516,000 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $58M | $76M | $33M | $31M | $36M | $62M | $26M | $29M | $34M | $48M | $25M | $26M | $30M | $54M | $23M | $25M | |
| Deferred Tax | $-29M | $-1M | $-58M | $-18M | $-30M | $-10M | $289M | $-12M | $-15M | $6M | $-13M | $12M | $-1M | $-1M | $-12M | $6M | |
| Amort. of Intangibles | $66M | $65M | $40M | $33M | $32M | $32M | $32M | $31M | $37M | $38M | $19M | $23M | $25M | $23M | $25M | $26M | |
| Operating Cash Flow | $501M | $441M | $225M | $322M | $484M | $378M | $359M | $255M | $110M | $328M | $378M | $241M | $423M | $366M | $398M | $224M | |
| CapEx | $29M | $34M | $38M | $31M | $27M | $32M | $38M | $33M | $36M | $47M | $39M | $45M | $53M | $60M | $58M | $32M | |
| Investing Cash Flow | $-36M | $-44M | $-1.63B | $-31M | $-33M | $-33M | $-38M | $-150M | $-120M | $-511M | $-38M | $-45M | $-145M | $-60M | $-61M | $-48M | |
| Stock Repurchased | $220M | $87M | $100M | $50M | $150M | $75M | $150M | $150M | $46M | $93M | $426M | $151M | $0 | $125M | $126M | $239M | |
| Net Stock Activity | · | $-87M | · | · | · | $-75M | · | · | · | $-93M | · | · | · | $-125M | · | · | |
| Financing Cash Flow | $-229M | $-99M | $-102M | $-28M | $589M | $-74M | $-160M | $-132M | $-73M | $-548M | $-428M | $-119M | $-1M | $-139M | $-127M | $-207M | |
| Net Change in Cash | $235M | $305M | $-1.51B | $262M | $1.06B | $263M | $165M | $-25M | $-91M | $-723M | $-100M | $74M | $270M | $187M | $194M | $-37M | |
| Taxes Paid | $66M | $18M | $46M | $30M | $35M | $9M | $16M | $-16M | $134M | $12M | $75M | $88M | $166M | $14M | $34M | $35M | |
| Free Cash Flow | · | $407M | · | · | · | $346M | · | · | · | $281M | · | · | · | $306M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $266M | · | · | · | $291M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.7% | 15.5% | · | 17.3% | 15.8% | 16.8% | · | 16.8% | 14.6% | 17.5% | · | 26.4% | 25.5% | 23.3% | · | 25.9% | |
| Net Margin | 20.3% | 17.6% | · | 14.1% | 19.7% | 13.0% | · | 32.0% | 10.4% | 13.7% | · | 20.8% | 20.4% | 18.8% | · | 24.6% | |
| Pretax Margin | 24.3% | 12.4% | · | 17.8% | 24.5% | 15.3% | · | 17.5% | 14.4% | 18.2% | · | 28.1% | 26.0% | 24.0% | · | 25.1% | |
| EBITDA Margin | 23.7% | 15.5% | · | 17.3% | 15.8% | 16.8% | · | 16.8% | 14.6% | 17.5% | · | 26.4% | 25.5% | 23.3% | · | 25.9% | |
| ROA | 3.1% | 2.7% | · | 1.9% | 2.6% | 1.8% | · | 4.3% | 1.4% | 2.0% | · | 3.5% | 3.4% | 3.2% | · | 4.3% | |
| ROE | 5.9% | 4.9% | · | 3.5% | 5.0% | 3.4% | · | 7.7% | 2.6% | 3.7% | · | 6.5% | 6.7% | 6.3% | · | 8.8% | |
| ROIC | 3.8% | 4.0% | · | 2.3% | 2.1% | 2.6% | · | 5.3% | 1.9% | 2.5% | · | 4.0% | 4.3% | 4.1% | · | 6.1% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 2.6 | · | 3.6 | 3.4 | 3.0 | · | 2.1 | 2.0 | 1.9 | · | 3.7 | 3.4 | 3.1 | · | 3.0 | |
| Quick Ratio | 1.3 | 1.7 | · | 2.1 | 2.4 | 1.9 | · | 1.2 | 1.2 | 1.2 | · | 2.6 | 2.4 | 2.1 | · | 2.1 | |
| Debt / Equity | 0.4 | 0.4 | · | 0.4 | 0.5 | 0.3 | · | 0.3 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | |
| LT Debt / Equity | 0.3 | 0.4 | · | 0.4 | 0.5 | 0.3 | · | 0.2 | 0.2 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 11.1 | · | 19.2 | 17.7 | 16.9 | · | 17.9 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | 0.5 | 0.6 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.6 | · | 0.6 | |
| Receivables Turnover | 1.9 | 1.9 | · | 1.8 | 1.7 | 1.6 | · | 1.4 | 1.5 | 1.5 | · | 1.6 | 1.7 | 1.7 | · | 1.8 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $5.97B | $5.56B | · | $5.17B | $5.04B | $4.99B | · | $5.07B | $5.25B | $5.41B | · | $5.53B | $5.50B | $5.36B | · | $5.22B | |
| Net Income TTM | $1.08B | $898M | · | $1.01B | $941M | $856M | · | $975M | $869M | $1.00B | · | $1.17B | $1.14B | $1.08B | · | $1.08B | |
| Market Cap | $70.95B | $43.86B | · | $33.12B | $29.33B | $35.97B | · | $28.05B | $29.68B | $30.75B | · | $32.18B | $28.84B | $35.76B | · | $32.28B | |
| Enterprise Value | $71.07B | $44.21B | · | $33.02B | $28.74B | $35.70B | · | $28.21B | $29.82B | $30.82B | · | $31.40B | $28.14B | $35.32B | · | $32.22B | |
| P/E | 56.1 | 41.7 | · | 28.4 | 26.9 | 36.5 | · | 25.2 | 30.3 | 27.3 | · | 24.7 | 22.9 | 30.0 | · | 27.7 | |
| P/S | 11.9 | 7.9 | · | 6.4 | 5.8 | 7.2 | · | 5.5 | 5.7 | 5.7 | · | 5.8 | 5.2 | 6.7 | · | 6.2 | |
| P/B | 11.2 | 7.1 | · | 5.8 | 5.4 | 6.9 | · | 5.4 | 6.1 | 6.4 | · | 6.6 | 6.1 | 8.1 | · | 8.2 | |
| P / Tangible Book | 41.9 | 29.6 | · | 12.2 | 11.8 | 15.8 | · | 12.7 | 14.8 | 15.8 | · | 10.5 | 10.1 | 13.6 | · | 15.4 | |
| P / Cash Flow | · | 99.5 | · | · | · | 95.2 | · | · | · | 93.7 | · | · | · | 97.7 | · | · | |
| P / FCF | · | 107.8 | · | · | · | 104.0 | · | · | · | 109.4 | · | · | · | 116.9 | · | · | |
| EV / EBITDA | 174.6 | 178.3 | · | 141.1 | 138.8 | 163.8 | · | 137.6 | 168.5 | 139.5 | · | 86.0 | 79.5 | 109.7 | · | 90.3 | |
| EV / FCF | · | 108.6 | · | · | · | 103.2 | · | · | · | 109.7 | · | · | · | 115.4 | · | · | |
| EV / Revenue | 11.9 | 8.0 | · | 6.4 | 5.7 | 7.2 | · | 5.6 | 5.7 | 5.7 | · | 5.7 | 5.1 | 6.6 | · | 6.2 | |
| Earnings Yield | 1.8% | 2.4% | · | 3.5% | 3.7% | 2.7% | · | 4.0% | 3.3% | 3.7% | · | 4.0% | 4.4% | 3.3% | · | 3.6% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | |
|---|---|---|---|---|---|
| Revenue | $5.38B | $4.98B | $5.46B | $5.42B | $4.94B |
| Operating Margin % | 16.3% | 16.7% | 24.9% | 24.6% | 21.9% |
| Net Income | $850M | $614M | $1.06B | $1.12B | $894M |
| Diluted EPS | $4.91 | $3.51 | $5.91 | $6.18 | $4.78 |
Balance Sheet
| 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 |
| Current Ratio | 2.4 | 3.0 | 2.3 | 3.0 | 2.9 |
| Quick Ratio | 1.5 | 1.9 | 1.6 | 2.1 | 2.1 |
Cash Flow
| 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $1.28B | $898M | $1.21B | $959M | $1.15B |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 1,331 filers · $31.3B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 215 (-31 vs prior Q) | 78 (+15 vs prior Q) | 451 (+103 vs prior Q) | 378 (+7 vs prior Q) | +36.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $3,916,515,247 | 11,187,806 | 12.52% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3,016,946,669 | 8,618,124 | 9.64% | Shares |
| STATE STREET CORP | $2,895,326,750 | 8,270,708 | 9.25% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,480,391,071 | 4,232,275 | 4.73% | Shares |
| Capital World Investors | $1,201,758,927 | 3,433,647 | 3.84% | Shares |
| NORGES BANK | $766,802,080 | 2,190,425 | 2.45% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $719,482,768 | 2,055,254 | 2.30% | Shares |
| FMR LLC | $480,291,197 | 1,371,986 | 1.53% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $466,831,647 | 1,333,538 | 1.49% | Shares |
| AMERIPRISE FINANCIAL INC | $425,105,249 | 1,214,362 | 1.36% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $385,578,300 | 1,101,432 | 1.23% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $352,369,144 | 1,006,568 | 1.13% | Shares |
| JENNISON ASSOCIATES LLC | $348,871,107 | 996,575 | 1.11% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $341,449,176 | 975,374 | 1.09% | Shares |
| Qube Research & Technologies Ltd | $302,137,715 | 863,078 | 0.97% | Shares |
| Focus Partners Wealth | $299,737,789 | 856,240 | 0.96% | Shares |
| BlackRock, Inc. | $244,117,114 | 697,338 | 0.78% | Shares |
| Swedbank AB | $236,758,642 | 676,318 | 0.76% | Shares |
| LONDON CO OF VIRGINIA | $217,732,743 | 621,965 | 0.70% | Shares |
| Alphinity Investment Management Pty Ltd | $216,259,943 | 617,762 | 0.69% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $206,182,480 | 588,975 | 0.66% | Shares |
| Third Point LLC | $204,790,950 | 585,000 | 0.65% | Shares |
| Assenagon Asset Management S.A. | $202,475,587 | 578,386 | 0.65% | Shares |
| VANGUARD GROUP INC | $195,126,811 | 960,317 | 0.62% | Shares |
| CITADEL ADVISORS LLC | $189,159,974 | 540,349 | 0.60% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $179,602,013 | 513,046 | 0.57% | Shares |
| Swiss National Bank | $169,328,859 | 483,700 | 0.54% | Shares |
| Fenimore Asset Management Inc | $168,846,463 | 482,322 | 0.54% | Shares |
| Legal & General Group Plc | $161,055,306 | 460,066 | 0.51% | Shares |
| Findlay Park Partners LLP | $157,136,621 | 448,872 | 0.50% | Shares |
| EARNEST PARTNERS LLC | $154,941,682 | 442,602 | 0.50% | Shares |
| JANUS HENDERSON GROUP PLC | $154,434,958 | 546,866 | 0.49% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $147,448,084 | 421,196 | 0.47% | Shares |
| JANE STREET GROUP, LLC | $143,096,364 | 408,765 | 0.46% | Shares |
| Madison Asset Management, LLC | $139,371,146 | 398,124 | 0.45% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $133,755,382 | 382,082 | 0.43% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $133,017,148 | 379,973 | 0.43% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $132,381,071 | 378,156 | 0.42% | Shares |
| ANTIPODES PARTNERS Ltd | $131,123,970 | 374,565 | 0.42% | Shares |
| D. E. Shaw & Co., Inc. | $131,032,951 | 374,305 | 0.42% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $130,951,035 | 374,071 | 0.42% | Shares |
| Quantinno Capital Management LP | $129,967,201 | 371,260 | 0.42% | Shares |
| Vanguard Global Advisers, LLC | $129,491,243 | 369,901 | 0.41% | Shares |
| PRUDENTIAL FINANCIAL INC | $124,114,168 | 354,541 | 0.40% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $119,250,645 | 340,648 | 0.38% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $119,175,030 | 340,432 | 0.38% | Shares |
| TWO SIGMA INVESTMENTS, LP | $118,784,002 | 339,315 | 0.38% | Shares |
| BANK OF AMERICA CORP /DE/ | $116,699,686 | 333,361 | 0.37% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $115,862,318 | 330,969 | 0.37% | Shares |
| Cartenna Capital, LP | $113,772,750 | 325,000 | 0.36% | Shares |
| RHUMBLINE ADVISERS | $113,290,917 | 323,624 | 0.36% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $111,614,218 | 318,834 | 0.36% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $109,969,940 | 314,137 | 0.35% | Shares |
| BARCLAYS PLC | $108,949,834 | 311,223 | 0.35% | Shares |
| California Public Employees Retirement System | $101,381,322 | 289,603 | 0.32% | Shares |
| National Pension Service | $99,030,602 | 282,888 | 0.32% | Shares |
| DSM CAPITAL PARTNERS LLC | $92,841,014 | 265,207 | 0.30% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $92,710,708 | 282,087 | 0.30% | Shares |
| Robeco Institutional Asset Management B.V. | $91,751,947 | 262,096 | 0.29% | Shares |
| TD Asset Management Inc | $91,268,850 | 260,716 | 0.29% | Shares |
| Madison Investment Advisors, LLC | $88,165,710 | 548,874 | 0.28% | Shares |
| Styrax Capital, LP | $87,517,500 | 250,000 | 0.28% | Shares |
| Caisse de depot et placement du Quebec | $84,129,873 | 240,323 | 0.27% | Shares |
| Candriam S.C.A. | $79,888,153 | 228,426 | 0.26% | Shares |
| Point72 Asset Management, L.P. | $79,653,177 | 227,535 | 0.25% | Shares |
| SNYDER CAPITAL MANAGEMENT L P | $76,890,075 | 219,642 | 0.25% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $76,420,281 | 218,300 | 0.24% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $76,275,761 | 270,127 | 0.24% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $75,510,099 | 215,700 | 0.24% | Call option |
| GOLDMAN SACHS GROUP INC | $74,304,458 | 212,256 | 0.24% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $73,725,442 | 210,602 | 0.24% | Shares |
| NEUBERGER BERMAN GROUP LLC | $73,128,380 | 208,896 | 0.23% | Shares |
| Squarepoint Ops LLC | $72,917,481 | 208,294 | 0.23% | Shares |
| Korea Investment CORP | $72,576,512 | 207,320 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $71,384,830 | 252,806 | 0.23% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $70,958,839 | 202,699 | 0.23% | Shares |
| UBS Group AG | $70,271,652 | 200,736 | 0.22% | Shares |
| SEB Asset Management AB | $70,097,592 | 200,239 | 0.22% | Shares |
| Central Securities Corp | $70,014,000 | 200,000 | 0.22% | Shares |
| Electron Capital Partners, LLC | $69,989,846 | 199,931 | 0.22% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $68,958,190 | 196,984 | 0.22% | Shares |
| ROYAL BANK OF CANADA | $68,277,000 | 195,039 | 0.22% | Shares |
| BROWN BROTHERS HARRIMAN & CO | $67,726,993 | 193,467 | 0.22% | Shares |
| MARSHALL WACE, LLP | $67,461,290 | 192,708 | 0.22% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $66,901,696 | 191,109 | 0.21% | Shares |
| Vinva Investment Management Ltd | $65,408,360 | 192,304 | 0.21% | Shares |
| FIRST MANHATTAN CO. LLC. | $61,436,235 | 175,497 | 0.20% | Shares |
| FIRST TRUST ADVISORS LP | $59,578,947 | 170,192 | 0.19% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $58,475,602 | 167,626 | 0.19% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $58,041,436 | 205,551 | 0.19% | Shares |
| Zurich Insurance Group Ltd/FI | $56,356,019 | 160,985 | 0.18% | Shares |
| TUDOR INVESTMENT CORP ET AL | $54,888,526 | 156,793 | 0.18% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $53,502,948 | 152,835 | 0.17% | Shares |
| 1832 Asset Management L.P. | $53,007,599 | 151,420 | 0.17% | Shares |
| GENEVA CAPITAL MANAGEMENT LLC | $52,573,810 | 150,181 | 0.17% | Shares |
| AVIVA PLC | $52,528,354 | 150,051 | 0.17% | Shares |
| COMMERCE BANK | $52,192,987 | 149,093 | 0.17% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $51,457,489 | 146,992 | 0.16% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $51,396,704 | 151,109 | 0.16% | Shares |
| EP Wealth Advisors, LLC | $51,049,636 | 145,827 | 0.16% | Shares |
Company insiders 26 insiders · 16 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Satish Dhanasekaran | President and CEO | June 25, 2026 S | 121,391 | 0 | 1 | $-183,189 |
| Ronald S. Nersesian | President and CEO | Dec. 20, 2018 F | 313,351 | 0 | 0 | $0 |
| Neil Dougherty | SVP and CFO | Feb. 27, 2019 M | 77,217 | 0 | 0 | $0 |
| Lisa M. Poole | VP and Controller | Aug. 1, 2026 F | 6,334 | 0 | 0 | $0 |
| Arnaud Allouche | SVP | July 6, 2026 A | 1,474 | 0 | 0 | $0 |
| Ingrid A Estrada | SVP | June 30, 2026 S | 105,861 | 0 | 1 | $-681,740 |
| Jay Alexander | SVP | Aug. 26, 2019 M | 76,622 | 0 | 0 | $0 |
| Jeffrey K Li | SVP and Secretary | July 1, 2019 A | 12,354 | 0 | 0 | $0 |
| Mark Pierpoint | SVP | July 1, 2019 M | 33,915 | 0 | 0 | $0 |
| Mark Adam Wallace | SVP | March 15, 2019 M | 54,033 | 0 | 0 | $0 |
| Soon Chai Gooi | SVP | Feb. 27, 2019 S | 182,295 | 0 | 0 | $0 |
| John C. Skinner | VP and Controller | Feb. 26, 2019 S | 30,377 | 0 | 0 | $0 |
| Stephen D. Williams | SVP and Secretary | Nov. 23, 2018 S | 56,986 | 0 | 0 | $0 |
| John Page | SVP | Nov. 16, 2018 F | 44,799 | 0 | 0 | $0 |
| Michael Gasparian | SVP | July 17, 2017 M | 63,249 | 0 | 0 | $0 |
| Guy Sene | SVP | Dec. 11, 2015 F | 129,849 | 0 | 0 | $0 |
| James Cullen | Director | June 2, 2026 S | 21,821 | 0 | 1 | $-1,039,740 |
| Richard P Hamada | Director | March 30, 2026 S | 42,160 | 0 | 1 | $-239,929 |
| Jean Halloran | Director | March 20, 2026 A | 38,752 | 0 | 0 | $0 |
| Joanne Beth Olsen | Director | May 23, 2019 A | 1,763 | 0 | 0 | $0 |
| Robert A. Rango | Director | March 22, 2019 A | 19,493 | 0 | 0 | $0 |
| Paul A Lacouture | Director | March 22, 2019 A | 2,351 | 0 | 0 | $0 |
| Paul N Clark | Director | March 22, 2019 A | 67,655 | 0 | 0 | $0 |
| Mark B Templeton | Director | March 23, 2018 A | 16,743 | 0 | 0 | $0 |
| Charles J Dockendorff | — | March 20, 2026 A | 55,213 | 0 | 0 | $0 |
| Bethany Mayer | — | May 17, 2017 A | 20,408 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Keysight Technologies, Inc. ( | Feb. 2, 2017 | — | Initial filing | M&A / sale | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 210 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| EPMB · Harbor ETF Trust | 3.51% | 452 NS | April 30, 2026 | N-PORT |
| TOLL · Tema ETF Trust | 3.35% | 4,851 NS | May 31, 2026 | N-PORT |
| EQTY · Valued Advisers Trust | 2.90% | 108,994 NS | April 30, 2026 | N-PORT |
| NUMV · Nushares ETF Trust | 2.86% | 35,254 NS | April 30, 2026 | N-PORT |
| PJBF · PGIM ETF Trust | 2.72% | 940 NS | May 29, 2026 | N-PORT |
| FCUS · Tidal Trust II | 2.28% | 6,323 NS | May 31, 2026 | N-PORT |
| BOBP · EXCHANGE TRADED CONCEPTS TRUST | 1.92% | 98 NS | April 30, 2026 | N-PORT |
| ALRG · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 1.65% | 349 NS | April 30, 2026 | N-PORT |
| TEC · Harbor ETF Trust | 1.60% | 309 NS | April 30, 2026 | N-PORT |
| RGEF · Tidal Trust III | 1.53% | 34,704 NS | April 30, 2026 | N-PORT |
| CGMM · Capital Group Equity ETF Trust I | 1.41% | 116,649 NS | May 31, 2026 | N-PORT |
| PWB · Invesco Exchange-Traded Fund Trust | 1.36% | 96,754 SH | Aug. 8, 2026 | Daily |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.36% | 233,643 SH | Aug. 8, 2026 | Daily |
| FOWF · Pacer Funds Trust | 1.09% | 462 NS | April 30, 2026 | N-PORT |
| WLDR · Two Roads Shared Trust | 1.07% | 2,182 NS | April 30, 2026 | N-PORT |
| VOE · VANGUARD INDEX FUNDS | 1.03% | 1,098,453 SH | Aug. 8, 2026 | Daily |
| IETC · iShares U.S. ETF Trust | 1.02% | 21,347 SH | Aug. 8, 2026 | Daily |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.99% | 35,747 NS | April 30, 2026 | N-PORT |
| NULC · Nushares ETF Trust | 0.95% | 1,539 NS | April 30, 2026 | N-PORT |
| IWP · iShares Trust | 0.94% | 562,834 SH | Aug. 8, 2026 | Daily |
| PPA · Invesco Exchange-Traded Fund Trust | 0.86% | 221,366 SH | Aug. 8, 2026 | Daily |
| SPHB · Invesco Exchange-Traded Fund Trust … | 0.83% | 23,070 SH | Aug. 8, 2026 | Daily |
| JOET · Virtus ETF Trust II | 0.81% | 5,491 NS | April 30, 2026 | N-PORT |
| IMCG · iShares Trust | 0.77% | 92,480 SH | Aug. 8, 2026 | Daily |
| LGDX · Tidal Trust III | 0.77% | 3,018 NS | April 30, 2026 | N-PORT |
| HIBL · Direxion Shares ETF Trust | 0.73% | 1,639 NS | April 30, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.73% | 319 NS | April 30, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.70% | 3,095 NS | April 30, 2026 | N-PORT |
| IYJ · iShares Trust | 0.67% | 38,843 SH | Aug. 8, 2026 | Daily |
| VO · VANGUARD INDEX FUNDS | 0.58% | 3,705,316 SH | Aug. 8, 2026 | Daily |
| PDP · Invesco Exchange-Traded Fund Trust | 0.58% | 25,518 SH | Aug. 8, 2026 | Daily |
| PEXL · Pacer Funds Trust | 0.56% | 733 NS | April 30, 2026 | N-PORT |
| RCGE · EA Series Trust | 0.55% | 1,484 NS | April 30, 2026 | N-PORT |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.51% | 6,123 NS | May 31, 2026 | N-PORT |
| FEX · First Trust Exchange-Traded AlphaDE… | 0.51% | 21,753 NS | April 30, 2026 | N-PORT |
| MTUM · iShares Trust | 0.50% | 378,079 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.49% | 6,765 NS | April 30, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.49% | 3,981 NS | April 30, 2026 | N-PORT |
| INFO · Harbor ETF Trust | 0.49% | 10,815 NS | April 30, 2026 | N-PORT |
| KRMA · Global X Funds | 0.48% | 1,705 NS | May 31, 2026 | N-PORT |
| FBUF · Fidelity Greenwood Street Trust | 0.44% | 238 NS | April 30, 2026 | N-PORT |
| XAIX · DBX ETF Trust | 0.43% | 1,979 NS | May 31, 2026 | N-PORT |
| KNCT · Invesco Exchange-Traded Fund Trust | 0.43% | 2,029 SH | Aug. 8, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.41% | 88,027 NS | April 30, 2026 | N-PORT |
| IWR · iShares Trust | 0.41% | 695,311 SH | Aug. 8, 2026 | Daily |
| SUSA · iShares Trust | 0.41% | 50,417 SH | Aug. 8, 2026 | Daily |
| HAPI · Harbor ETF Trust | 0.40% | 5,428 NS | April 30, 2026 | N-PORT |
| EVUS · iShares Trust | 0.40% | 4,453 SH | Aug. 8, 2026 | Daily |
| IMCB · iShares Trust | 0.39% | 19,570 SH | Aug. 8, 2026 | Daily |
| SZNE · Pacer Funds Trust | 0.38% | 145 NS | April 30, 2026 | N-PORT |