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Technology

Keysight Technologies, Inc. (KEYS)

Technology $54.0B market cap

Data as of July 13, 2026

Environment
70.00
People
80.00
Leadership
80.00

Environment story

Keysight has disclosed a net-zero commitment for Scope 1&2 emissions by fiscal 2040 (15 years away), which falls outside the preferred <2035 window and triggers a 15-point deduction. The company has developed Science-Based Targets (SBTi-approved October 2023) covering Scope 3 emissions, mitigating but not eliminating the Scope 3 penalty. No evidence of rising Scope 3 emissions is provided in filings; however, Scope 3 data itself remains partially undisclosed, warranting a precautionary 15-point deduction. The company plans reliance on 'certified offsets for residual emissions,' indicating potential greenwashing via carbon offsets rather than direct operational cuts; this triggers an additional 15-point deduction per Checklist A. Historic environmental liability from subsurface contamination at Santa Rosa and Colorado Springs facilities (inherited from HP/Agilent separation) is ongoing; Colorado Springs remediation continues under HP indemnification. The company maintains environmental site liability insurance. No major toxic-waste lawsuits, water-consumption controversies, or habitat protests are disclosed in the 10-K. Starting score 100, minus 15 (Scope 3 undisclosed), minus 15 (2040 target beyond 2045 threshold), minus 15 (offset reliance greenwashing per Checklist A) = 55. No verified decarbonization infrastructure investment disclosed to add back points.

Criticisms on file

  • Reliance on certified carbon offsets rather than direct emissions reduction for net-zero pathway; risk of greenwashing if offsets represent >20% of residual emissions strategy
    Source: KEYS_10k.txt, MD&A section: 'The company plans to meet this commitment by reducing energy consumption through efficiency and conservation measures, investments in renewable energy and selective purchase of certified offsets for residual emissions'
  • Ongoing subsurface contamination remediation obligations at Santa Rosa and Colorado Springs facilities; dependency on HP's continued indemnification and remediation performance
    Source: KEYS_10k.txt, Environmental Regulations section: 'HP and Agilent entered into an agreement pursuant to which HP agreed to retain the liability for this subsurface contamination, perform the required remediation, and indemnify Agilent'; 'On December 17, 2021, Keysight and HP signed a restrictive covenant related to our Santa Rosa facility that prohibits certain uses of the property'; 'HP's remediation obligations relating to Keysight's Colorado Springs facility are ongoing'
  • Scope 1, 2, and 3 emissions baseline data and interim reduction targets not quantified in 10-K; makes verification of SBTi commitment alignment difficult
    Source: KEYS_10k.txt, Risk Factors section: 'If we are unable to sufficiently reduce Scope 1 and Scope 2 emissions through energy reduction measures or our investments in renewable energy are not successful, we may fail to achieve our net zero emission commitment by fiscal year 2040'

Disclosed initiatives

  • Net Zero Scope 1&2 Commitment
    Company committed in May 2021 to achieving net zero Scope 1 and Scope 2 emissions by end of fiscal year 2040 through energy efficiency, renewable energy investment, and certified offset purchases for residual emissions
    Targets 2040 (15 years from fiscal 2025); relies on offsets rather than direct operational reductions
  • Science-Based Targets (SBTi-Approved)
    Company developed and received SBTi approval on October 27, 2023 for science-based targets aligned with limiting global warming to 1.5°C; includes Scope 3 reduction and engagement targets across relevant categories
    Provides credibility for Scope 3 roadmap; specific reduction percentages and timelines not disclosed in 10-K excerpt
  • Environmental Compliance & Remediation
    Company maintains comprehensive environmental site liability insurance; HP retains remediation liability and indemnification for subsurface contamination at Santa Rosa (resolved via restrictive covenant December 2021) and Colorado Springs facilities; Agilent indemnifies Keysight for related liabilities
    Ongoing remediation at Colorado Springs facility; HP's continued performance and Agilent's indemnification cannot be assured

Social story

Keysight discloses a 3-year average employee turnover rate of 6.2%, which is moderate and healthy. Average employee tenure is 12.4 years, indicating reasonable retention. The company reports approximately 16,800 employees globally (as of October 31, 2025) and emphasizes competitive compensation, inclusive culture, and formal succession planning. No documented union-suppression activities, major strikes, or NLRB complaints within the last 24 months are disclosed. Leadership diversity metrics are not explicitly quantified in the 10-K; the disclosure emphasizes 'inclusive workplace' and 'commitment to ethical business practices' but does not provide percentage breakdowns of women or underrepresented racial groups in executive/board positions, triggering a precautionary 15-point deduction. CEO-to-median-worker pay ratio is not disclosed, preventing direct assessment of the 200:1 threshold; absence of disclosure is treated as unknown rather than penalized. Supply-chain ethics audits and human-rights hazards are not detailed (e.g., no explicit conflict minerals, forced labor, or cobalt sourcing policies are mentioned), warranting a 15-point deduction. The company reports pay equity analyses conducted annually and adjusted for role, experience, location, and performance, which is a positive governance practice. Starting score 100, minus 15 (lack of diversity percentage disclosure) = 85. Deduct an additional 5 points for absence of explicit supply-chain human-rights audit disclosure, yielding 80.

Criticisms on file

  • Absence of quantified diversity metrics (% women, % underrepresented racial/ethnic groups) in executive and board leadership; limits ability to assess alignment with stated inclusive-workplace commitment
    Source: KEYS_10k.txt, Human Capital section: company describes 'diverse and inclusive workplace' but provides only headcount by geography (5,800 Americas, 3,600 Europe, 7,400 Asia Pacific) without demographic breakdowns
  • No explicit supply-chain human-rights audit, conflict minerals policy, forced-labor statement, or Scope 3 labor-ethics assessment disclosed in 10-K; manufacturing operations and contract manufacturing in Malaysia, India, and other regions not subjected to detailed third-party audit disclosure
    Source: KEYS_10k.txt, Manufacturing and Materials section: 'We utilize a combination of in-house manufacturing and qualified contract manufacturers' in Malaysia (Penang hub), U.S., and other regions, but no third-party human-rights audit or conflict minerals disclosure provided
  • Executive officer biographies provided; no diversity data (gender, race/ethnicity) for executive team disclosed; potential gender imbalance not addressed (names: Satish Dhanasekaran, Neil Dougherty, Ingrid Estrada, Jodi Juskie, Jason Kary, Jeffrey Li, Kailash Narayanan, John Page, Lisa Poole, Sung Yoon)
    Source: KEYS_10k.txt, Executive Officers section: lists 10 executive officers with minimal diversity indicators in provided text

Disclosed initiatives

  • Inclusive Workplace Culture & Values
    Company fosters 'collaborative, high performance, diverse, and inclusive workplace' rooted in technology leadership, innovation, inclusion, and engagement; Keysight Standards of Business Conduct guide ethical interactions with customers, suppliers, competitors, and employees; publicly available on company website
    Establishes foundational commitment to inclusivity; standards published for transparency
  • Annual Pay Equity Analysis
    Company conducts annual pay equity analyses adjusting for role, experience, location, and performance to ensure fairness across the organization globally
    Demonstrates proactive approach to gender and racial pay-gap mitigation; specific gap percentages not disclosed
  • Talent Acquisition & Succession Planning
    HR and talent teams partner with business leaders to align workforce strategies with long-term objectives; structured knowledge transfer programs implemented to retain critical expertise as experienced employees approach retirement; annual succession planning throughout organization including executive leadership
    Reduces institutional knowledge loss; ensures pipeline of future leaders
  • Employee Development & Engagement
    Mentoring programs, employee network groups, learning and development resources, all-encompassing benefits, employee and family assistance program focused on mental health awareness, workplace accessibility and accommodations
    Supports employee growth and well-being; facilitates career progression
  • Open-Door Policy
    Multiple avenues for employee input; 'Open-Door Policy' provides employees with direct access to any level of management to discuss ideas, career development, and concerns
    Encourages transparent communication and grievance resolution
  • Health, Safety & Wellness Programs
    Company maintains best-in-class work environment through strict compliance with workplace safety laws and regulations, employee well-being programs, mental health resources, and workplace accessibility accommodations
    Prioritizes employee safety and mental health

Governance story

Keysight reports a single-class common stock structure with equal voting rights (no dual-class share structure disclosed), which earns full credit on that dimension. Board independence percentage is not explicitly quantified in the 10-K; the company discloses board committees (Audit and Finance Committee, Compensation and Human Capital Committee, Nominating and Corporate Governance Committee, Executive Committee) and states 'Corporate Governance Guidelines' are available on investor relations website, but the actual independence count and percentage are not provided in this filing excerpt. Assuming standard public-company governance, independence likely meets >75% threshold, but absence of explicit disclosure warrants a precautionary 15-point deduction. Lobbying spend is not quantified in the 10-K; no explicit mention of climate-deregulation or consumer-protection rollback lobbying. The company does not disclose PAC contributions or trade-association memberships that might reveal climate misalignment. Regulatory proceedings disclosed include: (1) Centripetal Networks patent infringement litigation (filed January 1, 2022, ongoing appeals; ITC determination issued December 5, 2023 in Keysight's favor; Unified Patent Court determination December 2025 in Keysight's favor); (2) Multiple tax examinations (IRS and foreign tax authorities); (3) Tax refund lawsuit filed January 23, 2025 seeking $107 million relating to Singapore intangible asset deductions (no resolution disclosed). No major antitrust, consumer-safety, or financial-fraud consent decrees are mentioned. The Centripetal litigation is significant but defensive in nature (Keysight prevailed at ITC and Unified Patent Court). No evidence of Keysight suing shareholders to block climate proposals (Checklist A). Starting score 100, minus 15 (board independence not quantified; precautionary deduction) = 85. No additional deductions for lobbying, antitrust fines, or climate litigation. Final score 85, rounded to 80 for conservatism given information gaps.

Criticisms on file

  • Board independence percentage not quantified in 10-K filing; governance guidelines referenced but specific independence metrics not disclosed; limits external verification of board composition against best-practice >80% independence threshold
    Source: KEYS_10k.txt, Corporate Governance section: 'The Keysight Standards of Business Conduct... and Corporate Social Responsibilities reports are available on our website at www.investor.keysight.com under "Corporate Governance."' However, actual independence count and percentage not provided in filing
  • Lobbying expenditures and PAC contributions not disclosed in 10-K; inability to verify alignment with climate or consumer-protection policy
    Source: KEYS_10k.txt; no lobbying spend, PAC, or trade-association disclosure provided
  • Tax refund litigation pending: Keysight filed lawsuit January 23, 2025 against U.S. Department of Treasury seeking $107 million refund plus interest for Singapore intangible asset amortization deductions under IRC §951A(c); outcome uncertain; if unsuccessful, will result in material increase to effective tax rate and income tax liability
    Source: KEYS_10k.txt, Risk Factors & Income Taxes sections: 'On January 23, 2025, we filed a lawsuit against the United States of America in the United States Court of Federal Claims seeking a tax refund of $107 million, or such greater amount allowed by law, plus any other amount, including interest and cost, allowed by law... If we are ultimately unsuccessful in defending our refund claim, we will be required to reverse the benefit previously recorded, most likely resulting in a material increase in the effective tax rate and income tax liability'
  • Centripetal Networks patent infringement litigation ongoing; Keysight prevailed at ITC (December 5, 2023) and Unified Patent Court (December 2025), but Centripetal has appealed ITC determination; litigation and patent invalidity challenges consume management resources and create uncertainty
    Source: KEYS_10k.txt, Risk Factors section: detailed account of Centripetal lawsuit filed January 1, 2022, with ongoing appeals and multiple jurisdictions (Virginia, Germany, ITC, Unified Patent Court)
  • Multiple tax examinations by IRS and foreign tax authorities ongoing; outcome cannot be predicted with certainty; management believes adequate provision in place, but resolution could differ from expectations
    Source: KEYS_10k.txt, Risk Factors & Income Taxes sections: 'We are subject to ongoing tax examinations of our tax returns by the IRS and other tax authorities' and 'Given the numerous tax years and matters that remain subject to examination in various tax jurisdictions, the ultimate resolution of current and future tax examinations could be inconsistent with management's current expectations'
  • Executive orders prohibiting 'illegal DEI programs' issued January 2025; increased U.S. government scrutiny of DEI initiatives; company states it believes policies comply with law in all jurisdictions, but future determination by current administration could result in investigations, litigation, fines, penalties, and reputational damage
    Source: KEYS_10k.txt, Risk Factors section: 'In January 2025, the U.S. government issued executive orders prohibiting illegal Diversity, Equity and Inclusion ("DEI") programs, policies and activities, and has increased scrutiny of companies' DEI initiatives... Such a determination could result in extended investigations, litigation, fines, penalties, and damage to our reputation or brand and could adversely affect our operations and our business results'

Disclosed initiatives

  • Corporate Governance Guidelines & Board Oversight
    Company maintains published Corporate Governance Guidelines available on investor relations website; board oversight includes Audit and Finance Committee, Compensation and Human Capital Committee, Nominating and Corporate Governance Committee, and Executive Committee; CEO and CPO regularly update board and Compensation and Human Capital Committee on human capital matters
    Establishes structured board oversight; governance documentation publicly available
  • Standards of Business Conduct (SBC)
    Company publishes Keysight Standards of Business Conduct that guide interactions with customers, suppliers, competitors, and employees; serve as foundation of integrity-driven approach to business
    Provides transparent ethical framework; available to public on company website
  • Compliance Programs & Training
    Company maintains compliance policies, programs, and training to prevent violations of anti-corruption regulations (Foreign Corrupt Practices Act, U.K. Bribery Act, local anti-corruption laws), export/import controls (Export Administration Regulations, economic sanctions), data privacy (GDPR, local regulations), and workplace safety regulations. Regularly monitors pending legislation and regulatory changes.
    Comprehensive compliance infrastructure across multiple regulatory domains
  • Data Privacy & Security Governance
    Company developed internal data handling policies and practices to comply with GDPR and similar data privacy regulations in other jurisdictions; devotes resources to keep pace with evolving regulatory environment
    Addresses EU and global data privacy requirements; ongoing regulatory monitoring
  • Anti-Corruption & International Compliance
    Company maintains policies and procedures designed to ensure ongoing compliance with Foreign Corrupt Practices Act, U.K. Bribery Act, and other anti-competition regulations; monitors pending and proposed legislation and incorporates changes into existing compliance programs
    Establishes safeguards against corrupt payments and foreign anti-competition violations

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of Keysight Technologies, Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open Keysight Technologies, Inc. in the app for interactive charts and portfolio building.

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