Agilent Technologies, Inc. (A) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-60.2%

$68.91

vs $173.00 price

Levered DCF

$67.93

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.82

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	31.89×	29.35×	24.5×	33.02×	39.46×	43.82×	22.21×	66.11×
P/B	6.14×	6.41×	5.2×	7.8×	8.86×	6.47×	5.01×	4.55×
P/S	5.96×	5.8×	4.45×	6.04×	7.56×	5.91×	4.61×	4.23×
EV / EBITDA	23.43×	21.36×	18.52×	22.62×	27.8×	26.44×	20.15×	16.53×
Gross margin	52.4%	54.3%	50.7%	54.4%	53.9%	53.1%	54.3%	54.7%
Operating margin	21.3%	22.9%	19.8%	23.6%	21.3%	15.8%	18.2%	18.4%
Net margin	18.8%	19.8%	18.1%	18.3%	19.1%	13.5%	20.7%	6.4%
Current ratio	1.96×	2.09×	2.61×	2.03×	2.22×	2.33×	1.53×	3.29×
Debt / equity	0.5×	0.61×	0.47×	0.52×	0.51×	0.48×	0.51×	0.39×
Interest coverage	13.21×	15.5×	14.21×	19.26×	16.63×	10.85×	12.72×	12.05×
Dividend yield	0.7%	0.7%	0.9%	0.6%	0.5%	0.7%	0.9%	0.9%
Payout ratio	21.6%	21.3%	21.4%	19.9%	19.5%	30.9%	19.2%	60.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.3%	21.9%	21.2%	23.6%	22.5%	14.8%	22.6%	6.9%
Return on invested capital	12.6%	12.6%	13.6%	15.5%	13.3%	8.8%	11.8%	4.1%
Return on assets	10.2%	10.9%	11.5%	11.9%	11.3%	7.5%	11.3%	3.7%
Free cash flow yield	2.8%	3.6%	4.9%	2.5%	2.7%	2.5%	3.6%	4.4%
Earnings yield	3.1%	3.4%	4.1%	3.0%	2.5%	2.3%	4.5%	1.5%
Enterprise value	$43B	$40B	$31.5B	$43.1B	$49B	$32.5B	$24.8B	$20.3B
Net debt / EBITDA	0.85×	1.2×	0.67×	0.9×	0.71×	0.75×	0.83×	-0.36×
Cash conversion cycle (days)	128	130	135	128	116	124	116	106