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Agilent Technologies, Inc.

Rank #266Hypergrowth

A · NYSE · Healthcare

Agilent Technologies, Inc. (A) — Rank #266 by gross profitability (GP/assets 0.26) · ROE 17.7% · Piotroski F-Score 8 / 9.

As-of 2026-09-15 · CIK 0001090872 · all metrics point-in-time as of the filing date.

About

Agilent Technologies, Inc. provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide.

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The company operates through three segments: Life Sciences and Diagnostics Markets, Agilent CrossLab, and Applied Markets. The Life Sciences and Diagnostics Markets segment offers liquid chromatography systems and components; and liquid chromatography mass spectrometry systems. This segment is also involved in the genomics, contract development and manufacturing organization, pathology, companion diagnostics, and biomolecular analysis businesses. The Agilent CrossLab segment provides various services, including repairs, parts, maintenance, installations, training, compliance support, software as a service, asset management, consulting, and other custom services. This segment also offers consumables, including gas chromatography and liquid chromatography columns, sample preparation products, custom chemistries, and various laboratory supplies; software and informatics solutions comprising software for instrument control, data acquisition, data analysis, secure storage of results, and laboratory information and workflow management; and OpenLab laboratory software, an open software platform that enables customers to capture, analyze, and share scientific data throughout the lab and across the enterprise. In addition, it provides automated sample preparation solutions, such as liquid handling, plate management, consumables, and scheduling software. The Applied Markets segment offers products in the areas of gas chromatography, mass spectrometry, spectroscopy, vacuum technology, and remarketed instruments. It markets its products through direct sales, distributors, resellers, manufacturer's representatives, and electronic commerce. Agilent Technologies, Inc.

was incorporated in 1999 and is headquartered in Santa Clara, California.

Industry
Diagnostics & Research
Sector
Healthcare
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
October 31

Price History

A-15.1% · -3.2% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$42.41B

P/E (annual)

32.9

P/S (annual)

6.1

P/B

5.8

P/OCF (annual)

27.2

Shareholder Yield

14.0%

Employees

18,200

Industry

Diagnostics & Research

Exchange

NYSE

Signal Flags

4 green1 red
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 3-quarter streak
Balance sheet deterioratingNet cash collapsed with receivables or inventory outpacing revenue

Quality Profile

Profitability

1/1 pass
GP / assets
0.26
Return on equity
17.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
—
Current ratio
2.05×
Net cash
-$2.06B

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
1.8%

Growth

2/2 pass
Revenue growth
65.3%
Piotroski F-Score
8 / 9
Share dilution
-13.4%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

What Growth Is Priced In

Implied revenue growth (10Y)

16.2%

fairly valued

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -13.4% — per-share value needs a total required return of 2.8% once share-count change is priced in.

vs. own 6-year median revenue growth: 1.7%

priced above its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

11.4%

r = 10% (base)

16.2%

r = 12%

20.3%

Net debt / market cap: 4.8%

Base FCF: $1.2B3Y mean FCF: $586.7M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

32.2xFair
8.4xmed 22.2x34.0x

P / S

Price / revenue per share

4.9xExpensive
1.3xmed 3.4x4.9x

P / B

Price / book value per share

4.6xExpensive
2.0xmed 2.7x4.6x

P / GP

Price / gross profit per share

9.1xExpensive
2.4xmed 6.7x9.1x

P / FCF

Price / free cash flow per share

30.9xExpensive
7.9xmed 23.2x34.8x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.26

Primary signal (Novy-Marx).

33rd pctl of 37 SIC 38 peers

Return on equity

17.7%

Gross margin

52.4%

39th pctl of 37 SIC 38 peers

Revenue growth (YoY)

65.3%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2014201520162017
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

—

Revenue CAGR (5Y)

—

Earnings CAGR (3Y)

1.3%

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

—

Current ratio

2.05×

34th pctl of 36 SIC 38 peers

Quick ratio

1.41×

Net cash

-$2.06B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$1.15B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.12

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.8%

Stock-based comp intensity.

Dividend safety

Composite score

4.2 / 5

Strong
Payout ratio
21.6%5/5 Strong
FCF coverage
4.09×5/5 Strong
Dividend growth streak
10 yr5/5 Strong
Balance-sheet health
D/E N/A · IC 13.21×2/5 Fair

Piotroski F-Score

F-Score

8 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20122017
Capital Return
Value
View full financial statements →