Agilent Technologies Inc A

Health CareHealthcare Equipment & SuppliesUnited States of America

Last close 174.87 USD on Nov 1, 2026, +29.5% year to date

Quant rating

Quant rating B Rank 117 of 565 in Health Care

Growth C 254 of 565
Valuation C 266 of 565
Quality A 51 of 565
Revisions C 385 of 565
Momentum B 117 of 565

Wall Street consensus Buy (2.04)Average target 181.87 USD +4.0%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 49.3B
Enterprise value: 51.5B
52-week range: 108.51 – 182.99
3-year range: 99.29 – 182.99
Dividend yield: 0.58%
Beta (5 years): 1.25
Shares outstanding: 282M
Next earnings: Nov 23, 2026

About the company

Agilent Technologies, Inc. specializes in life sciences, diagnostics and applied markets, providing application-focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. Its segments include Life Sciences and Diagnostics Markets, Agilent CrossLab and Applied Markets. The Life Sciences and Diagnostics Markets segment provides contract development and manufacturing services for pharmaceutical customers as well as solutions that include reagents, instruments, software and consumables which enable customers in the clinical and life sciences research areas to interrogate samples at the cellular and molecular level. The Agilent CrossLab segment spans the entire lab with its services and consumables portfolio in addition to software and laboratory automation solutions, which are designed to improve customer outcomes and represent a range of offerings designed to serve customer needs across end-markets and applications.

Growth and profitability fiscal year ends October 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,948	6,510	6,833	6,848	6,319	–
Revenue growth	6.7%	−4.7%	−0.2%	8.4%	18.4%	5.4%
EPS (basic, normalized)	5.59	5.29	5.44	5.22	4.34	–
EPS growth	5.7%	−2.8%	4.2%	20.3%	–	–
Gross margin	52.7%	54.5%	50.9%	54.4%	53.9%	53.3%
Net margin	18.8%	19.8%	18.1%	18.3%	19.1%	18.8%
ROE	20.6%	22.0%	22.2%	23.5%	23.6%	22.4%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,758
Current ratio	2.05x
Long-term debt (mil)	3,645
Net debt (mil)	2,191
Total equity (mil)	7,363
Net debt / equity	0.30x
Net debt / EBITDA	1.09x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	6,948	+6.7%	7.4x	2,014	+6.4%	25.6x	5.59	+5.7%	31.3x
2026	7,498	+7.9%	6.9x	2,243	+11.4%	23.0x	6.20	+10.9%	28.2x
2027	7,982	+6.5%	6.5x	2,425	+8.1%	21.2x	6.73	+8.6%	26.0x
2028	8,507	+6.6%	6.1x	2,618	+8.0%	19.7x	7.47	+10.9%	23.4x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	7,498	0.0%	+0.7%	+1.4%	6.20	0.0%	+2.4%	+3.9%
2027	7,982	0.0%	+1.1%	+1.8%	6.73	−0.4%	+1.8%	+2.4%
2028	8,507	0.0%	+1.1%	+1.7%	7.47	−0.7%	+1.9%	+1.8%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	1,573	1,578	1,701	1,681	1,668	1,738	1,861	1,798	1,835	1,878
Sales mean (mil)	1,582	1,558	1,672	1,669	1,627	1,665	1,832	1,807	1,799	1,841
Surprise	−0.6%	+1.3%	+1.7%	+0.7%	+2.5%	+4.4%	+1.6%	−0.5%	+2.0%	+2.0%
EPS reported	1.22	1.32	1.46	1.31	1.31	1.37	1.59	1.36	1.49	1.62
EPS mean	1.19	1.26	1.41	1.27	1.26	1.37	1.58	1.37	1.41	1.49
Surprise	+2.3%	+5.0%	+3.6%	+3.2%	+3.6%	+0.3%	+0.4%	−0.6%	+5.9%	+9.0%

Peer comparison Healthcare Equipment & Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
A Agilent Technologies Inc	49.3B	1.09x	18.8%	6.70x	28.2x	26.0x	23.0x	21.2x
TMO Thermo Fisher Scientific Inc.	257.7B	3.18x	15.0%	4.71x	27.6x	25.1x	23.4x	21.8x
ABT Abbott Laboratories	183.8B	2.36x	14.7%	3.60x	19.2x	17.9x	16.0x	14.5x
DHR Danaher Corporation	163.4B	2.71x	14.7%	3.05x	27.0x	24.9x	21.9x	20.1x
ISRG Intuitive Surgical, Inc.	149.8B	−0.91x	28.4%	9.37x	38.4x	34.7x	26.1x	24.0x
MDT Medtronic PLC	123.5B	1.99x	13.2%	2.46x	16.2x	15.1x	12.8x	12.3x
Mean		1.73x	17.5%	4.98x	26.1x	23.9x	20.5x	19.0x
Median		2.17x	14.9%	4.15x	27.3x	25.0x	22.4x	20.7x

Technical analysis

1M0.0%
3M+24.6%
1Y+20.8%
3Y+74.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Agilent Technologies Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	6,948	6,510	6,833	6,848	6,319	5,339
Cost of revenue	3,284	2,962	3,357	3,126	2,912	2,502
Gross profit	3,664	3,548	3,476	3,722	3,407	2,837
Selling, general & administrative expenses	1,653	1,526	1,596	1,637	1,619	1,484
Research & development	450	458	475	467	441	495
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	83.0	76.0	12.0	–	–	12.0
Other operating expenses	0	0	0	0	0	0
Operating income	1,478	1,488	1,393	1,618	1,347	846
Net interest income (expense)	−88.0	−6.0	−68.0	−75.0	−79.0	−70.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	45.0	39.0	14.0	−39.0	92.0	66.0
Net income before taxes	1,435	1,521	1,339	1,504	1,360	842
Provision for taxes	132	232	99.0	250	150	123
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	1,303	1,289	1,240	1,254	1,210	719
Extraordinary items	–	–	–	–	–	–
Net income	1,303	1,289	1,240	1,254	1,210	719
EBIT, normalized	1,610	1,608	1,735	1,691	1,439	1,082
EBITDA, normalized	1,898	1,865	2,006	2,008	1,760	1,390
Basic EPS, normalized	5.59	5.29	5.44	5.22	4.34	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Agilent Technologies Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,789	1,329	1,590	1,053	1,575	1,441
Receivables	1,487	1,471	1,391	1,405	1,172	1,038
Total inventory	1,025	972	1,031	1,038	830	720
Prepaid expenses	–	–	–	–	–	–
Other current assets	293	187	174	282	222	216
Total current assets	4,594	3,959	4,186	3,778	3,799	3,415
Property, plant & equipment	2,206	1,955	1,424	1,250	1,123	1,020
Goodwill	4,473	4,477	3,960	3,952	3,975	3,602
Intangibles	445	547	475	821	981	831
Long-term investments	133	175	164	195	185	158
Note receivable	3.0	3.0	3.0	–	–	–
Other long-term assets	873	730	551	536	642	601
Total assets	12,727	11,846	10,763	10,532	10,705	9,627
Liabilities
Accounts payable	570	540	418	580	446	354
Payable/accrued	–	–	–	–	–	–
Accrued expenses	706	614	607	784	821	652
Short-term debt	0	45.0	0	36.0	0	75.0
Current portion of long-term debt	304	–	–	–	–	–
Other current liabilities	767	696	578	461	441	386
Total current liabilities	2,347	1,895	1,603	1,861	1,708	1,467
Long-term debt	3,050	3,345	2,735	2,733	2,729	2,284
Minority interest	–	–	–	–	–	–
Other liabilities	589	708	580	633	879	1,003
Total liabilities	5,986	5,948	4,918	5,227	5,316	4,754
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	3.0	3.0	3.0	3.0	3.0	3.0
Additional paid-in capital	5,575	5,450	5,387	5,325	5,320	5,311
Retained earnings (accumulated deficit)	1,389	750	782	324	348	81.0
Treasury stock	–	–	–	–	–	–
Other equity	−226	−305	−327	−347	−282	−522
Total equity	6,741	5,898	5,845	5,305	5,389	4,873
Total liabilities & shareholders' equity	12,727	11,846	10,763	10,532	10,705	9,627

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Agilent Technologies Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,303	1,289	1,240	1,254	1,210	719
Depreciation, depletion & amortization	288	257	271	317	321	308
Deferred taxes	−130	−64.0	−56.0	8.0	14.0	29.0
Non-cash items	229	186	433	211	42.0	190
Changes in working capital	−131	83.0	−116	−478	−102	−325
Cash from operations	1,559	1,751	1,772	1,312	1,485	921
Investing activities
Capital expenditures	−407	−378	−298	−291	−189	−119
Other investing cash flows	13.0	−880	−12.0	−47.0	−560	−28.0
Cash from investing	−394	−1,258	−310	−338	−749	−147
Financing activities
Financing cash flow items	−29.0	−39.0	−122	−67.0	−83.0	−41.0
Cash dividends paid	−282	−274	−265	−250	−236	−222
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−404	−439	−543	−1,055	−377	−454
Cash from financing	−715	−752	−930	−1,372	−696	−717
Foreign exchange effects	9.0	−2.0	5.0	−36.0	3.0	2.0
Net change in cash	459	−261	537	−434	43.0	59.0
Free cash flow	1,152	1,373	1,474	1,021	1,296	802

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.