One-glance verdict
Overvalued
$89.52 our estimate vs market $174.87
Wall Street consensus: $182.05 (103.4% higher than our fair-value estimate)
95% above our estimate, beyond the bull case
Fundamentals snapshot
Agilent Technologies, Inc.
A · NYQ · Healthcare · Diagnostics & Research
Current price
$174.87
52-week range
$108.35 - $182.99
Market cap
$49.31B
Balance sheet
Watch
13.21x Strong cushion
Net debt $2.39B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 6.1% last year.
- Reward Returns 21.0% on equity, ahead of 40% of its peers.
- Risk Stock trades 15.7% above its 5-year average P/E.
- Risk Insider ownership is only 0.2% (peer median: 0.2%).
What this company does
Agilent Technologies, Inc.
Agilent Technologies sells tools and services to laboratories that do research in areas like medicine and chemistry. Their money mostly comes from selling instruments and then providing ongoing support and supplies, which creates a steady stream of income (recurring revenue). This focus on both initial sales and long-term services is important because it helps them build strong relationships with their customers and ensures they keep making money over time, even if new instrument sales fluctuate.
How the company got here
Agilent started its journey as part of Hewlett-Packard (HP), a pioneering technology company. In 1999, HP decided to spin off its measurement and life sciences businesses to create a new, more focused company, which became Agilent Technologies. This move created one of the largest initial public offerings (a company's first sale of stock to the public) in Silicon Valley's history at the time. Over the years, Agilent has sharpened its focus on life sciences, diagnostics, and applied chemical markets by selling off other parts of the business, like its semiconductor and electronic measurement divisions. This has allowed the company to become a specialized leader in providing tools and expertise to laboratories around the world.
What it actually does
Think of Agilent as a company that equips scientists and researchers with the high-tech tools they need to make discoveries and ensure products are safe. They provide the instruments, software, and services that laboratories use to test everything from new medicines and the food we eat to the quality of our air and water. For example, a pharmaceutical company might use Agilent's equipment to analyze a new drug, or a food manufacturer might use it to check for pesticides. Essentially, Agilent provides the technology that helps answer complex scientific questions and advance the quality of life.
Life Sciences and Diagnostics Markets
This is Agilent's largest business segment, focused on the pharmaceutical, biotech, and clinical diagnostics markets. It provides the complex instruments and software that scientists use in disease research, developing new drugs, and creating diagnostic tests to identify illnesses. For instance, this division makes the tools that help researchers understand the building blocks of life (genomics) and analyze cells to develop new cancer therapies. This segment is a major part of the company, representing a significant portion of its revenue.
Agilent CrossLab
This part of the company is all about supporting the scientists who use Agilent's products. It provides a wide range of services, including repairs, maintenance, training, and software to keep laboratories running smoothly and efficiently. Think of it as the customer support and services arm that ensures the high-tech instruments sold by the other divisions continue to work effectively over their lifetime. This segment also sells the everyday supplies (consumables) that labs need to run their tests, like specialized chemical columns and sample preparation products. This is a very large and important piece of Agilent's business.
Applied Markets
This segment provides tools and technologies for a variety of industries outside of life sciences and diagnostics. Its customers are in fields like food safety, environmental testing, and the chemical and energy industries. For example, a government agency might use this division's instruments to test for pollutants in the water supply, or a food company might use them to ensure their products are free from harmful chemicals. While smaller than the other two segments, it provides essential tools for ensuring the safety and quality of many everyday products.
What management is betting on now
Agilent's leadership is focused on growing the company by concentrating on high-growth areas within its key markets, like the development of new drugs and advanced materials. They are also looking to acquire other companies (a strategy known as mergers and acquisitions, or M&A) to bring in new technologies and expand their reach. The company is also investing in digital solutions and automation to make laboratories more efficient. Finally, Agilent is committed to returning value to its shareholders through things like dividends (a portion of the company's profits paid out to shareholders) and consistently buying back its own stock.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$388.00M
FY2025 Q1
$334.00M
FY2025 Q2
$107.00M
FY2025 Q3
$259.00M
FY2025 Q4
$452.00M
FY2026 Q1
$175.00M
FY2026 Q2
$201.00M
FY2026 Q3
$439.00M
Revenue
$1.88B
Net income
$362.00M
Diluted EPS
1.28
Operating cash flow
$519.00M
Free cash flow
$439.00M
Fetching…
Sources
Revenue
$1.83B
Net income
$339.00M
Diluted EPS
1.20
Operating cash flow
$277.00M
Free cash flow
$201.00M
Fetching…
Sources
Revenue
$1.80B
Net income
$305.00M
Diluted EPS
1.07
Operating cash flow
$268.00M
Free cash flow
$175.00M
Fetching…
Sources
Revenue
$1.86B
Net income
$434.00M
Diluted EPS
1.53
Operating cash flow
$545.00M
Free cash flow
$452.00M
Fetching…
Sources
Revenue
$1.74B
Net income
$336.00M
Diluted EPS
1.18
Operating cash flow
$362.00M
Free cash flow
$259.00M
Fetching…
Sources
Revenue
$1.67B
Net income
$215.00M
Diluted EPS
0.75
Operating cash flow
$221.00M
Free cash flow
$107.00M
Fetching…
Sources
Revenue
$1.68B
Net income
$318.00M
Diluted EPS
1.11
Operating cash flow
$431.00M
Free cash flow
$334.00M
Fetching…
Sources
Revenue
$1.70B
Net income
$351.00M
Diluted EPS
1.23
Operating cash flow
$481.00M
Free cash flow
$388.00M
Fetching…
Sources
Is it cheap or expensive?
Fair value $89.52 vs current price $174.87
Wall Street consensus is the average analyst price target: $182.05 (103.4% higher than our fair-value estimate).
Our most-likely fair value is $89.52 a share — about 48.8% below today's price of $174.87, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Watch
Net debt $2.4B. Interest coverage 13.2x.
Net debt
$2.39B
Interest coverage
13.21x
Agilent Technologies, Inc.'s profit covers its interest bill about 13.2 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
A
BASELINE
Agilent Technologies, Inc.
Total debt $4.15B Interest coverage 13.21x This is the baseline the peer rows are being compared against.
Total debt $5.48B Interest coverage 11.54x -13% vs A Has roughly the same debt cushion as A.
Total debt $1.10B Interest coverage 35.01x +165% vs A Carries about 2.7x more debt cushion than A.
Total debt $2.23B Interest coverage 8.09x -39% vs A Carries about 1.6x less debt cushion than A.
Total debt $2.14B Interest coverage 16.32x +24% vs A Carries about 1.2x more debt cushion than A.
Total debt $3.34B Interest coverage 3.87x -71% vs A Carries about 3.4x less debt cushion than A.
What you should know
The case for and against A
3 Rewards
2 Risks
Rewards
-
Revenue grew 6.1% last year.
-
Returns 21.0% on equity, ahead of 40% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 15.7% above its 5-year average P/E.
-
Insider ownership is only 0.2% (peer median: 0.2%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
34.49x
Forward P/E
25.99x
P/B
6.70x
P/S
6.69x
EV/EBITDA
24.85x
PEG ratio
1.48x
Profitability
How much profit each dollar creates
Gross margin
53.6%
Operating margin
25.6%
Net margin
19.5%
ROE
21.0%
ROA
8.6%
Health
Liquidity and balance-sheet strength
Debt / equity
0.56x
Current ratio
2.05x
Quick ratio
1.41x
Total debt
$4.15B
Total cash
$1.76B
Growth
How the business has been compounding
Revenue TTM
$7.37B
Revenue 5Y CAGR
2.4%
EPS TTM
5.07
EPS 5Y CAGR
3.0%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.61B
Free CF TTM
$1.15B
FCF margin
15.6%
Dividend
Shareholder payout
Yield
0.6%
Payout ratio
20.0%
Last ex-div date
2026-10-06