# Agilent Technologies Inc. (A) — Financial Analysis

**Exchange:** NYSE  
**Coverage as of:** 2026-Q2  
**Updated:** 2026-05-13  
**Tier:** Free primer (step 2 of 19)  
**Sibling pages:** /stocks/A/thesis · /stocks/A/memo

## Financial Snapshot

---
ticker: A
step: 04
generated: 2026-05-12
source: quick-research
---

### Agilent Technologies (A) — Financial Snapshot

#### Income Statement Summary

| Metric | FY2022 | FY2023 | FY2024 | YoY |
|--------|--------|--------|--------|-----|
| Revenue | $6.85B | $6.83B | $6.51B | -4.7% |
| Gross Margin | ~52.5% | ~50.7% | ~54.3% | +3.6pp |
| Operating Margin | ~20.2% | ~19.8% | ~22.9% | +3.1pp |
| Net Income | ~$1.49B | ~$1.21B | ~$1.29B | +6.6% |
| EPS (diluted) | ~$5.06 | $4.19 | ~$4.44 | +6% |

*Note: Agilent fiscal year ends October 31. FY2023 revenue was flat YoY due to post-pandemic biopharma inventory destocking and slowing pharma capex. FY2024 decline reflects continued biopharma spending headwinds, partially offset by cost actions. Gross margin recovery in FY2024 reflects favorable mix (more services/consumables) and Ignite Transformation savings.*

#### Cash Flow & Balance Sheet (FY2024)

| Metric | Value |
|--------|-------|
| Operating Cash Flow | ~$1.55B |
| Free Cash Flow | ~$1.37B |
| Cash & Equivalents | ~$1.1B |
| Total Debt | ~$2.9B |

#### Key Ratios (approximate)
- P/E: ~17x (FY2024) | EV/EBITDA: ~14x | FCF Yield: ~6%
- Revenue Growth (FY2024): -4.7% | FCF Margin: ~21%
- Dividend Yield: ~1.0%

#### Growth Profile
Agilent's revenue declined in FY2023–FY2024 due to a severe biopharma inventory correction and reduced capital spending across pharmaceutical and biotech customers. FY2025 saw recovery with revenue of $6.95B (+6.7%), and management raised FY2026 guidance to $7.30B–$7.50B, implying continued recovery as biopharma destocking ends, order book-to-bill exceeds 1.0x, and the diagnostics segment (clinical diagnostics, companion diagnostics) accelerates. The Ignite Transformation program is driving structural margin improvement, with operating margins expected to expand toward 24–25% as revenue recovers.

#### Forward Estimates
- FY2025 (ended Oct 2025): Revenue $6.95B (actual); recovery year with margin expansion
- FY2026E Revenue: $7.30B–$7.50B (company guidance) — ~5–8% growth
- FY2026E EPS: Mid-to-high $5 range (consensus), with operating leverage from revenue recovery

## Deeper Financial Analysis

The fundamental tier ($1.00) adds 8 dimensions not included here:

- Revenue Breakdown — segment revenue, geographic mix, product-line margins
- Financial Trends — QoQ momentum, leading indicators, inflection points
- Balance Sheet — debt structure, dilution risk, working capital dynamics
- Capital Allocation — ROIC, buyback cadence, reinvestment efficiency
- Earnings Analysis — beats/misses, guidance vs actuals, transcript highlights
- Competitive Positioning — market share, pricing power, peer benchmarks
- Industry Context — TAM, sector tailwinds/headwinds, regulatory backdrop

**API endpoint:** GET /api/v1/research/A/fundamental

## Navigation

- Overview: /stocks/A
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- Thesis: /stocks/A/thesis
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