KEYS vs. LITE: Keysight vs. Lumentum Stock Comparison

November 11, 2026

How do Keysight (KEYS) and Lumentum (LITE) 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

Keysight (KEYS) and Lumentum (LITE) both fall under the Technology Hardware & Equipment industry group, but KEYS is classified in Electronic Equipment, Instruments & Components while LITE is classified in Communications Equipment.

Company profile comparison for Keysight (KEYS) and Lumentum (LITE)
Profile Item	KEYS	LITE
Name	Keysight Technologies, Inc.	Lumentum Holdings 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	Communications Equipment
GICS Sub-Industry	Electronic Equipment & Instruments	Communications Equipment
Market Capitalization	46.33 billion USD	48.84 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	October 20, 2014	July 23, 2015
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

KEYS

LITE

GSPC

Keysight (KEYS) vs. Lumentum (LITE), 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

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

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
Total Return (1Y)	59.88%	150.31%
Total Return (3Y, Annualized)	33.36%	147.76%
Total Return (5Y, Annualized)	9.24%	45.47%

Risk Profile

Drawdown History

KEYS

LITE

GSPC

Keysight (KEYS) vs. Lumentum (LITE), 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

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

Risk Metrics

Risk profile metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
Volatility (1Y, Annualized)	47.95%	101.27%
Beta (5Y)	1.22	1.73
Max Drawdown (5Y)	-42.62%	-66.48%
Avg. Volume (3M)	1.31M	5.27M

Risk-Adjusted Performance

Risk-Return Positioning

KEYS and LITE 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 Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
Sharpe Ratio (1Y)	1.16	1.44
Sortino Ratio (1Y)	1.82	2.14

Profitability

ROE (TTM)

Lumentum (LITE) reports a negative ROE of -245.79%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Keysight (KEYS) reports 20.90%, ranking against industry peers normally.

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%

LITE

Technology Hardware & Equipment industry group

-245.79%

Max: 42.47%
Q3: 19.13%
Median: 11.00%
Q1: 1.63%
Min: -20.62%
LITE: -245.79%

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

Net Margin (TTM)

Lumentum (LITE) reports a negative net margin of -175.78%, usually indicating a net loss over the period. Meanwhile Keysight (KEYS) reports 19.14%, ranking against industry peers normally.

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%

LITE

Technology Hardware & Equipment industry group

-175.78%

Max: 27.60%
Q3: 11.66%
Median: 4.08%
Q1: 0.00%
Min: -11.02%
LITE: -175.78%

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

Operating Margin (TTM)

Both Keysight (KEYS) at 25.68% and Lumentum (LITE) at 27.95% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.

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%

LITE

Technology Hardware & Equipment industry group

27.95%

Max: 36.27%
LITE: 27.95%
Q3: 18.36%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

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

Profitability Metrics

Profitability metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
ROE (TTM)	20.90%	-245.79%
ROA (TTM)	7.23%	9.19%
Net Margin (TTM)	19.14%	-175.78%
Operating Margin (TTM)	25.68%	27.95%
Gross Margin (TTM)	63.28%	47.98%

Growth

Revenue Growth

Lumentum (LITE) at 83.22% clears its industry range for revenue growth, far stronger top-line momentum than Keysight (KEYS) at 7.95%, which is closer to a typical peer reading.

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

EPS Growth

Keysight (KEYS) at 39.32% is around its peer norm for EPS growth, while Lumentum (LITE) at -25,224.32% falls below its industry range, a notably weak earnings reading.

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

Growth Metrics

Growth metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
Revenue Growth (YoY)	7.95%	83.22%
Revenue Growth (3Y CAGR)	-0.28%	19.48%
EPS Growth (YoY)	39.32%	-25,224.32%
EPS Growth (3Y CAGR)	-7.51%	--

Financial Strength

Current Ratio (MRQ)

Both Keysight (KEYS) at 2.02 and Lumentum (LITE) at 1.61 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

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

LITE

Technology Hardware & Equipment industry group

1.61

Max: 5.34
Q3: 3.02
Median: 1.95
LITE: 1.61
Q1: 1.32
Min: 0.17

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

Debt / Equity (MRQ)

Both Keysight (KEYS) at 0.42 and Lumentum (LITE) at 0.31 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

LITE

Technology Hardware & Equipment industry group

0.31

Max: 1.76
Q3: 0.78
LITE: 0.31
Median: 0.24
Q1: 0.04
Min: 0.01

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

Financial Strength Metrics

Financial strength metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
Current Ratio (MRQ)	2.02	1.61
Debt / Equity (MRQ)	0.42	0.31
Net Debt / EBITDA	0.09	-0.48

Dividends

Dividend Yield (TTM)

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

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%

LITE

Technology Hardware & Equipment industry group

0.00%

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

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

Dividend Payout Ratio (TTM)

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

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%

LITE

Technology Hardware & Equipment industry group

0.00%

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

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

Dividend Metrics

Dividend metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Keysight (KEYS) trades at 36.82 times trailing earnings, ranked against its peers, while Lumentum (LITE) has no P/E ratio this period.

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

LITE

Technology Hardware & Equipment industry group

Max: 69.48
Q3: 41.02
Median: 26.39
Q1: 19.36
Min: 6.07
LITE: --

Keysight (KEYS) vs. Lumentum (LITE): LITE does not report P/E ratio, so it has no value marker; KEYS is benchmarked against the Technology Hardware & Equipment industry group.

P/S Ratio (TTM)

Both look expensive on sales: Keysight (KEYS) at 7.04 sits in the upper P/S ratio quartile, and Lumentum (LITE) at 13.05 prices even higher, above its industry range.

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

LITE

Technology Hardware & Equipment industry group

13.05

LITE: 13.05
Max: 11.30
Q3: 5.82
Median: 2.56
Q1: 1.05
Min: 0.00

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

P/B Ratio (MRQ)

Both Keysight (KEYS) at 7.05 and Lumentum (LITE) at 10.67 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

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

LITE

Technology Hardware & Equipment industry group

10.67

Max: 10.75
LITE: 10.67
Q3: 5.52
Median: 3.17
Q1: 1.79
Min: 0.33

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

Valuation Metrics

Valuation metrics for Keysight (KEYS) and Lumentum (LITE)
Metric	KEYS	LITE
P/E Ratio (TTM)	36.82	--
P/S Ratio (TTM)	7.04	13.05
P/B Ratio (MRQ)	7.05	10.67
Free Cash Flow Yield (TTM)	4.03%	0.29%