FLEX vs. KEYS: Flex vs. Keysight Stock Comparison

November 11, 2026

How do Flex (FLEX) and Keysight (KEYS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Flex (FLEX) and Keysight (KEYS) both belong to the Electronic Equipment, Instruments & Components industry, though FLEX is classified under Electronic Manufacturing Services while KEYS falls under Electronic Equipment & Instruments.

Company profile comparison for Flex (FLEX) and Keysight (KEYS)
Profile Item	FLEX	KEYS
Name	Flex Ltd.	Keysight Technologies, Inc.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Technology Hardware & Equipment	Technology Hardware & Equipment
GICS Industry	Electronic Equipment, Instruments & Components	Electronic Equipment, Instruments & Components
GICS Sub-Industry	Electronic Manufacturing Services	Electronic Equipment & Instruments
Market Capitalization	25.78 billion USD	46.33 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	March 18, 1994	October 20, 2014
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

FLEX

KEYS

GSPC

Flex (FLEX) vs. Keysight (KEYS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Flex (FLEX) and Keysight (KEYS). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Flex (FLEX) and Keysight (KEYS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
Total Return (1Y)	24.99%	59.88%
Total Return (3Y, Annualized)	59.41%	33.36%
Total Return (5Y, Annualized)	42.37%	9.24%

Risk Profile

Drawdown History

FLEX

KEYS

GSPC

Flex (FLEX) vs. Keysight (KEYS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Flex (FLEX) and Keysight (KEYS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
Volatility (1Y, Annualized)	76.21%	47.95%
Beta (5Y)	1.82	1.22
Max Drawdown (5Y)	-58.83%	-42.62%
Avg. Volume (3M)	4.28M	1.31M

Risk-Adjusted Performance

Risk-Return Positioning

FLEX and KEYS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
Sharpe Ratio (1Y)	0.27	1.16
Sortino Ratio (1Y)	0.44	1.82

Profitability

ROE (TTM)

Keysight (KEYS) at 20.90% sits in the top ROE quartile, while Flex (FLEX) at 19.13% is closer to the peer norm — stronger capital efficiency for KEYS.

FLEX

Technology Hardware & Equipment industry group

19.13%

Max: 42.47%
FLEX: 19.13%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

KEYS

Technology Hardware & Equipment industry group

20.90%

Max: 42.47%
KEYS: 20.90%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

Flex (FLEX) vs. Keysight (KEYS): A comparison of their ROE against the Technology Hardware & Equipment industry group benchmark.

Net Margin (TTM)

Keysight (KEYS) at 19.14% retains a top-quartile share of revenue as profit, ahead of Flex (FLEX) at 3.35%, which keeps about the industry-typical share.

FLEX

Technology Hardware & Equipment industry group

3.35%

Max: 27.60%
Q3: 11.66%
Median: 4.08%
FLEX: 3.35%
Q1: 0.00%
Min: -11.02%

KEYS

Technology Hardware & Equipment industry group

19.14%

Max: 27.60%
KEYS: 19.14%
Q3: 11.66%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

Flex (FLEX) vs. Keysight (KEYS): A comparison of their net margin against the Technology Hardware & Equipment industry group benchmark.

Operating Margin (TTM)

Keysight (KEYS) at 25.68% operates in the top operating margin quartile, ahead of Flex (FLEX) at 5.05%, which runs around its industry’s norm.

FLEX

Technology Hardware & Equipment industry group

5.05%

Max: 36.27%
Q3: 18.36%
Median: 8.84%
FLEX: 5.05%
Q1: 1.46%
Min: -21.39%

KEYS

Technology Hardware & Equipment industry group

25.68%

Max: 36.27%
KEYS: 25.68%
Q3: 18.36%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

Flex (FLEX) vs. Keysight (KEYS): A comparison of their operating margin against the Technology Hardware & Equipment industry group benchmark.

Profitability Metrics

Profitability metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
ROE (TTM)	19.13%	20.90%
ROA (TTM)	4.39%	7.23%
Net Margin (TTM)	3.35%	19.14%
Operating Margin (TTM)	5.05%	25.68%
Gross Margin (TTM)	9.67%	63.28%

Growth

Revenue Growth

Both Flex (FLEX) at 8.14% and Keysight (KEYS) at 7.95% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Flex (FLEX) vs. Keysight (KEYS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Flex (FLEX) at 10.43% and Keysight (KEYS) at 39.32% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Flex (FLEX) vs. Keysight (KEYS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
Revenue Growth (YoY)	8.14%	7.95%
Revenue Growth (3Y CAGR)	-0.69%	-0.28%
EPS Growth (YoY)	10.43%	39.32%
EPS Growth (3Y CAGR)	10.65%	-7.51%

Financial Strength

Current Ratio (MRQ)

Both Flex (FLEX) at 1.34 and Keysight (KEYS) at 2.02 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

FLEX

Technology Hardware & Equipment industry group

1.34

Max: 5.34
Q3: 3.02
Median: 1.95
FLEX: 1.34
Q1: 1.32
Min: 0.17

KEYS

Technology Hardware & Equipment industry group

2.02

Max: 5.34
Q3: 3.02
KEYS: 2.02
Median: 1.95
Q1: 1.32
Min: 0.17

Flex (FLEX) vs. Keysight (KEYS): A comparison of their current ratio against the Technology Hardware & Equipment industry group benchmark.

Debt / Equity (MRQ)

Keysight (KEYS) at 0.42 carries an industry-typical debt-to-equity mix, while Flex (FLEX) at 1.03 uses more debt funding than most peers.

FLEX

Technology Hardware & Equipment industry group

1.03

Max: 1.76
FLEX: 1.03
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01

KEYS

Technology Hardware & Equipment industry group

0.42

Max: 1.76
Q3: 0.78
KEYS: 0.42
Median: 0.24
Q1: 0.04
Min: 0.01

Flex (FLEX) vs. Keysight (KEYS): A comparison of their debt-to-equity ratio against the Technology Hardware & Equipment industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
Current Ratio (MRQ)	1.34	2.02
Debt / Equity (MRQ)	1.03	0.42
Net Debt / EBITDA	1.32	0.09

Dividends

Dividend Yield (TTM)

Neither Flex (FLEX) nor Keysight (KEYS) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

FLEX

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
FLEX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

KEYS

Technology Hardware & Equipment industry group

0.00%

Max: 0.73%
Q3: 0.31%
KEYS: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Flex (FLEX) vs. Keysight (KEYS): A comparison of their dividend yield against the Technology Hardware & Equipment industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Flex (FLEX) nor Keysight (KEYS) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

FLEX

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
FLEX: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

KEYS

Technology Hardware & Equipment industry group

0.00%

Max: 32.27%
Q3: 14.48%
KEYS: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Flex (FLEX) vs. Keysight (KEYS): A comparison of their payout ratio against the Technology Hardware & Equipment industry group benchmark.

Dividend Metrics

Dividend metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Both Flex (FLEX) at 25.10 and Keysight (KEYS) at 36.82 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

FLEX

Technology Hardware & Equipment industry group

25.10

Max: 69.48
Q3: 41.02
Median: 26.39
FLEX: 25.10
Q1: 19.36
Min: 6.07

KEYS

Technology Hardware & Equipment industry group

36.82

Max: 69.48
Q3: 41.02
KEYS: 36.82
Median: 26.39
Q1: 19.36
Min: 6.07

Flex (FLEX) vs. Keysight (KEYS): A comparison of their P/E ratio against the Technology Hardware & Equipment industry group benchmark.

P/S Ratio (TTM)

Flex (FLEX) at 0.83 looks cheap on sales in the lower P/S ratio quartile, while Keysight (KEYS) at 7.04 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

FLEX

Technology Hardware & Equipment industry group

0.83

Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
FLEX: 0.83
Min: 0.00

KEYS

Technology Hardware & Equipment industry group

7.04

Max: 11.30
KEYS: 7.04
Q3: 5.82
Median: 2.56
Q1: 1.05
Min: 0.00

Flex (FLEX) vs. Keysight (KEYS): A comparison of their P/S ratio against the Technology Hardware & Equipment industry group benchmark.

P/B Ratio (MRQ)

Flex (FLEX) at 4.44 is valued about in line with its industry on P/B ratio, while Keysight (KEYS) at 7.05 carries an above-peer premium to book — KEYS is pricier on assets.

FLEX

Technology Hardware & Equipment industry group

4.44

Max: 10.75
Q3: 5.52
FLEX: 4.44
Median: 3.17
Q1: 1.79
Min: 0.33

KEYS

Technology Hardware & Equipment industry group

7.05

Max: 10.75
KEYS: 7.05
Q3: 5.52
Median: 3.17
Q1: 1.79
Min: 0.33

Flex (FLEX) vs. Keysight (KEYS): A comparison of their P/B ratio against the Technology Hardware & Equipment industry group benchmark.

Valuation Metrics

Valuation metrics for Flex (FLEX) and Keysight (KEYS)
Metric	FLEX	KEYS
P/E Ratio (TTM)	25.10	36.82
P/S Ratio (TTM)	0.83	7.04
P/B Ratio (MRQ)	4.44	7.05
Free Cash Flow Yield (TTM)	2.41%	4.03%