<p>凯西特科技（Keysight Technologies，股票代码：KEYS）刚刚发布了又一份强劲的财报，订单、收入和盈利均有所上升，随着对人工智能基础设施、下一代通信和国防现代化的需求不断增长。</p>
<p>查看我们对凯西特科技的最新分析。</p>
<p>最新的财报超出预期，加上新一轮 15 亿美元的股票回购，显然引起了投资者的关注，三个月内股价回报约为 24%，将凯西特的股价推高至约 206.61 美元。这巩固了近 66% 的五年总股东回报，并表明动能仍在增强而非减弱。</p>
<p>如果这种技术驱动的重新估值引起了你的关注，现在是探索其他高增长科技和人工智能股票潜在赢家的好时机，看看市场可能忽视了什么。</p>
<p>然而，随着股价在强劲的重新估值后已接近华尔街目标，投资者现在面临一个更棘手的问题：考虑到其人工智能和国防的顺风，凯西特是否仍被低估，还是市场已经在折扣未来的增长？</p>
<h2>最受欢迎的叙述：低估 3.2%</h2>
<p>随着叙述的公允价值略高于凯西特的最后收盘价，故事的关键在于其增长引擎是否能够继续复合增长。</p>
<blockquote>
<p><em>软件和经常性服务产品的扩展，现在分别占总收入的 36% 和 28%，通过增强收入稳定性、改善产品组合和减少传统硬件部门的周期性，提升了毛利率和净利率。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>想看看这个溢价价格背后的数学吗？这个叙述依赖于更强的增长、更高的利润率，以及假设真实持久性的未来盈利倍数。好奇哪些预测在这个预测中占据最重要的地位？深入了解以解开推动这一公允价值判断的假设。</p>
<p><strong>结果：公允价值为 213.38 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，这一上行潜力依赖于顺利的执行，关税逆风和人工智能基础设施支出的潜在降温都可能 derail 增长路径。</p>
<p>了解凯西特科技叙述的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>虽然叙述模型认为凯西特略微被低估，但其当前价格却讲述了一个不同的故事。以 40.7 倍的盈利倍数与 23.5 倍的行业平均和 27.8 倍的公允比率相比，投资者显然在支付溢价。这引发了一个问题：好消息在价格中已经包含了多少？</p>
<p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/88b2bf3b-1a28-4d62-9336-3dbc52ea1f4d/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/88b2bf3b-1a28-4d62-9336-3dbc52ea1f4d/chart/pe-multiple-vs-industry"/></p>
<p>截至 2025 年 12 月的纽约证券交易所：KEYS 市盈率</p>
<h2>构建你自己的凯西特科技叙述</h2>
<p>如果你对这种观点并不完全信服，或者更愿意自己深入数字，你可以在几分钟内构建一个自定义叙述，从 “按你的方式做” 开始。</p>
<p>进行凯西特科技研究的一个很好的起点是我们的分析，突出了两个关键收益和一个可能影响你投资决策的重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>在你继续之前，通过使用 Simply Wall Street 筛选器锁定你的下一个机会，发现符合你的策略和风险偏好的目标想法。</p>
<ul>
<li>通过扫描这 14 只收益率超过 3% 的股息股票，锁定可靠的收入和潜在的资本增长，这些股票可以帮助增强你长期投资组合的基础。</li>
<li>通过关注这 25 只人工智能小盘股，利用结构性增长趋势，这些股票有望从自动化、数据分析和智能软件的加速采用中受益。</li>
<li>通过筛选这 81 只加密货币和区块链股票，抢占市场先机，这些股票正在围绕区块链基础设施、数字支付和代币化资产构建真正的业务。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 这并不构成买卖任何股票的推荐，也未考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

是德科技

<p>是德科技（Keysight Technologies，股票代码：KEYS）报告了强劲的收益，订单、收入和盈利均有所增加，这得益于人工智能、通信和国防需求。15 亿美元的股票回购以及三个月内 24% 的股价上涨提升了投资者信心。尽管公允价值为 213.38 美元，但该股票的高市盈率引发了对其当前估值的担忧。投资者必须考虑潜在风险，如关税影响和人工智能支出放缓。文章建议探索其他高增长的科技和人工智能股票以寻找投资机会</p>

<p>Keysight Technologies (KEYS) just delivered another solid earnings update, with orders, revenue, and earnings all moving higher as demand for AI infrastructure, next generation communications, and defense modernization continues to build.</p>
<div class="lb-trans"><p>凯西特科技（Keysight Technologies，股票代码：KEYS）刚刚发布了又一份强劲的财报，订单、收入和盈利均有所上升，随着对人工智能基础设施、下一代通信和国防现代化的需求不断增长。</p>
</div><p>See our latest analysis for Keysight Technologies.</p>
<div class="lb-trans"><p>查看我们对凯西特科技的最新分析。</p>
</div><p>The latest earnings beat and fresh $1.5 billion buyback have clearly resonated with investors, with a roughly 24 percent 3 month share price return helping push Keysight to about $206.61. This has reinforced a solid 5 year total shareholder return near 66 percent and suggests momentum is still building rather than fading.</p>
<div class="lb-trans"><p>最新的财报超出预期，加上新一轮 15 亿美元的股票回购，显然引起了投资者的关注，三个月内股价回报约为 24%，将凯西特的股价推高至约 206.61 美元。这巩固了近 66% 的五年总股东回报，并表明动能仍在增强而非减弱。</p>
</div><p>If this kind of tech driven rerating has your attention, it is a good moment to explore other potential winners among high growth tech and AI stocks and see what else the market might be overlooking.</p>
<div class="lb-trans"><p>如果这种技术驱动的重新估值引起了你的关注，现在是探索其他高增长科技和人工智能股票潜在赢家的好时机，看看市场可能忽视了什么。</p>
</div><p>Yet with shares already near Wall Street targets after a powerful rerating, investors now face a tougher question: Is Keysight still mispriced given its AI and defense tailwinds, or is the market already discounting that future growth?</p>
<div class="lb-trans"><p>然而，随着股价在强劲的重新估值后已接近华尔街目标，投资者现在面临一个更棘手的问题：考虑到其人工智能和国防的顺风，凯西特是否仍被低估，还是市场已经在折扣未来的增长？</p>
</div><h2>Most Popular Narrative: 3.2% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：低估 3.2%</h2>
</div><p>With the narrative fair value sitting just above Keysight's last close, the story hinges on whether its growth engine can keep compounding from here.</p>
<div class="lb-trans"><p>随着叙述的公允价值略高于凯西特的最后收盘价，故事的关键在于其增长引擎是否能够继续复合增长。</p>
</div><blockquote>
<p><em>Expansion of software and recurring service offerings, now comprising 36% and 28% of total revenue respectively, increases gross and net margins by enhancing revenue stability, improving product mix, and reducing cyclicality from traditional hardware segments.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>软件和经常性服务产品的扩展，现在分别占总收入的 36% 和 28%，通过增强收入稳定性、改善产品组合和减少传统硬件部门的周期性，提升了毛利率和净利率。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Want to see the math behind this premium price tag? The narrative leans on stronger growth, fatter margins, and a future earnings multiple that assumes real staying power. Curious which projections carry the heaviest weight in that forecast? Dive in to unpack the assumptions driving this fair value call.</p>
<div class="lb-trans"><p>想看看这个溢价价格背后的数学吗？这个叙述依赖于更强的增长、更高的利润率，以及假设真实持久性的未来盈利倍数。好奇哪些预测在这个预测中占据最重要的地位？深入了解以解开推动这一公允价值判断的假设。</p>
</div><p><strong>Result: Fair Value of $213.38 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 213.38 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, this upside depends on smooth execution, with tariff headwinds and a potential cooling of AI infrastructure spending both capable of derailing the growth path.</p>
<div class="lb-trans"><p>然而，这一上行潜力依赖于顺利的执行，关税逆风和人工智能基础设施支出的潜在降温都可能 derail 增长路径。</p>
</div><p>Find out about the key risks to this Keysight Technologies narrative.</p>
<div class="lb-trans"><p>了解凯西特科技叙述的关键风险。</p>
</div><h2>Another Angle on Valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>While the narrative model sees Keysight as modestly undervalued, its current price tells a different story. At a 40.7x earnings multiple versus a 23.5x sector average and a 27.8x fair ratio, investors are clearly paying up. This raises the question: how much good news is already in the price?</p>
<div class="lb-trans"><p>虽然叙述模型认为凯西特略微被低估，但其当前价格却讲述了一个不同的故事。以 40.7 倍的盈利倍数与 23.5 倍的行业平均和 27.8 倍的公允比率相比，投资者显然在支付溢价。这引发了一个问题：好消息在价格中已经包含了多少？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/88b2bf3b-1a28-4d62-9336-3dbc52ea1f4d/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/88b2bf3b-1a28-4d62-9336-3dbc52ea1f4d/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:KEYS PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>截至 2025 年 12 月的纽约证券交易所：KEYS 市盈率</p>
</div><h2>Build Your Own Keysight Technologies Narrative</h2>
<div class="lb-trans"><h2>构建你自己的凯西特科技叙述</h2>
</div><p>If you are not fully convinced by this view, or would rather dig into the numbers yourself, you can build a custom narrative in just a few minutes, starting with Do it your way.</p>
<div class="lb-trans"><p>如果你对这种观点并不完全信服，或者更愿意自己深入数字，你可以在几分钟内构建一个自定义叙述，从 “按你的方式做” 开始。</p>
</div><p>A great starting point for your Keysight Technologies research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>进行凯西特科技研究的一个很好的起点是我们的分析，突出了两个关键收益和一个可能影响你投资决策的重要警示信号。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Before you move on, lock in your next opportunity by using the Simply Wall Street Screener to uncover targeted ideas that match your strategy and risk profile.</p>
<div class="lb-trans"><p>在你继续之前，通过使用 Simply Wall Street 筛选器锁定你的下一个机会，发现符合你的策略和风险偏好的目标想法。</p>
</div><ul>
<li>Target reliable income and potential capital growth by scanning these 14 dividend stocks with yields &gt; 3% that can help strengthen the backbone of your long term portfolio.</li>
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</ul>
<div class="lb-trans"><ul>
<li>通过扫描这 14 只收益率超过 3% 的股息股票，锁定可靠的收入和潜在的资本增长，这些股票可以帮助增强你长期投资组合的基础。</li>
<li>通过关注这 25 只人工智能小盘股，利用结构性增长趋势，这些股票有望从自动化、数据分析和智能软件的加速采用中受益。</li>
<li>通过筛选这 81 只加密货币和区块链股票，抢占市场先机，这些股票正在围绕区块链基础设施、数字支付和代币化资产构建真正的业务。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不构成财务建议。</strong> 这并不构成买卖任何股票的推荐，也未考虑你的目标或财务状况。我们的目标是为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

是德科技（KEYS）：在强劲的收益、人工智能需求和信心名单升级后的估值检查