At a glance
Agilent Technologies Inc is worth $49.30B, about 38 times its fiscal 2025 earnings. Revenue grew 6.7% to $6.95B in fiscal 2025, with 18.8% kept as profit; over 5 years it has grown 5.4% a year. It pays a 0.59% dividend yield, raised every year for at least 9 years, and returned $5.38B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +22.9% over the past year with dividends reinvested and +2.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 25.8% in the 2020 crash (S&P 500: 33.7%) and 27.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 5 months after the lows.
The business in plain English
Agilent Technologies makes the equipment and supplies that scientific and medical labs use to test samples. It sells instruments, software, services and consumables (items such as reagents that labs use up and reorder) for every step of a lab's work. Customers include drug makers, hospital and reference labs, universities and government institutes, and labs that test chemicals, food and the environment. Agilent sells mainly through its own sales force, plus distributors, resellers and online. It employed about 18,100 people as of October 31, 2025, and more than half of its revenue comes from outside the US.
In the fiscal year ended October 31, 2025, revenue was $6.95 billion across three segments. Agilent CrossLab was the largest at $2.91 billion, or 41.9%. It covers lab services, chemistries and supplies, software and lab automation. Life Sciences and Diagnostics Markets brought in $2.73 billion (39.2%). It includes liquid chromatography and mass spectrometry instruments, which separate and identify molecules. It also includes cell analysis tools, tissue-staining products for cancer diagnosis, genomics reagents and contract manufacturing of drug ingredients for pharmaceutical companies.
Applied Markets made up the remaining $1.31 billion (18.9%). It sells gas chromatography, spectroscopy and vacuum products that help customers identify and measure what substances and products contain. Agilent reorganized its segments in November 2024, so older reports group the businesses differently.
Price history
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A +22.9% over the year to Oct 30, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Agilent CrossLab | $2.91B | 41.9% |
| Life Sciences and Diagnostics Markets | $2.73B | 39.2% |
| Applied Markets | $1.31B | 18.9% |
Latest results
- In Q3 FY2026 (ended Jul 31, 2026), revenue was $1.88B, up 8.1% from a year earlier, and net income was $362.0M (+7.7%).
- For fiscal 2025, revenue was $6.95B (+6.7% year over year; +5.4% a year from FY2020 to FY2025) with a 18.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +5.4% good |
|---|---|
| Operating margin | 21.3% good |
| Free cash flow margin | 16.6% good |
| Return on equity (FY2025) | 19.3% good |
| Return on assets (FY2025) | 10.2% good |
| Net cash (cash minus debt) | $-2.06B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $5.34B | $719.0M | $802.0M |
| FY2021 | $6.32B | $1.21B | $1.30B |
| FY2022 | $6.85B | $1.25B | $1.02B |
| FY2023 | $6.83B | $1.24B | $1.47B |
| FY2024 | $6.51B | $1.29B | $1.37B |
| FY2025 | $6.95B | $1.30B | $1.15B |
Valuation snapshot
| Market value | $49.30B |
|---|---|
| P/E ratio | 38.3 |
| Dividend yield | 0.59% |
Rank among 1514 US companies
Market value at each year end
Agilent Technologies’s market value went from $14.66B at the end of 2016 to $49.30B on Oct 30, 2026, about 3.4 times as much; since the end of 2025 it is up 28%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 30, 2026 | $49.30B | +27.8% |
| 2025 | $38.58B | +0.5% |
| 2024 | $38.37B | -5.8% |
| 2023 | $40.74B | -8.1% |
| 2022 | $44.31B | -8.1% |
| 2021 | $48.21B | +32.6% |
| 2020 | $36.36B | +37.4% |
| 2019 | $26.46B | +23.1% |
| 2018 | $21.49B | -0.7% |
| 2017 | $21.63B | +47.6% |
| 2016 | $14.66B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| A price data to Oct 30, 2026 | +29.5% | +22.9% | +20.9% | +2.9% | +15.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +29.5% |
| 2025 | +1.9% |
| 2024 | -2.7% |
| 2023 | -6.4% |
| 2022 | -5.5% |
| 2021 | +35.5% |
| 2020 | +39.8% |
| 2019 | +27.5% |
| 2018 | +1.7% |
| 2017 | +48.3% |
| 2016 | +10.2% |
| 2015 | +3.5% |
| 2014 | -0.1% |
| 2013 | +41.1% |
| 2012 | +18.4% |
| 2011 | -15.7% |
| 2010 | +33.3% |
| 2009 | +98.8% |
| 2008 | -57.5% |
| 2007 | +5.4% |
| 2006 | +9.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 67.4% over that stretch · deepest drop along the way 67.6%, back to its old high 21.1 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 25.8% over that stretch · deepest drop along the way 25.8%, back to its old high 2.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19.3% over that stretch · deepest drop along the way 27.9%, back to its old high 5.2 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 3 sales ($702K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Dec 1, 2025 | Mikael Dolsten Director | sell | $390K |
| May 29, 2026 | Mikael Dolsten Director | sell | $217K |
| Sep 4, 2026 | Mikael Dolsten Director | sell | $96K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 8.3% | Mar 31, 2025 |
| Vanguard Capital Management | 7.49% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.09% | Mar 31, 2026 |
| Massachusetts Financial Services Company | 4.4% | Dec 31, 2024 |
ETFs with the most weight in A
| TINY ProShares Nanotechnology ETF | 5.01% |
| GNOM Global X Genomics & Biotechnology ETF | 4.61% |
| FIW First Trust Water ETF | 3.6% |
| MGRO VanEck Morningstar Wide Moat Growth ETF | 2.53% |
| MOAT VanEck Morningstar Wide Moat ETF | 2.3% |
| IPDP Dividend Performers ETF | 1.97% |
| RSPH Invesco S&P 500 Equal Weight Health Care ETF | 1.52% |
| SMOT VanEck Morningstar SMID Moat ETF | 1.24% |
What could go wrong
- Demand depends on lab budgets and funding. Many sales depend on customers' capital spending, research budgets and government funding. When drug makers trim research or governments cut funding for universities and institutes, instrument orders can be delayed or canceled.
- Strict FDA rules for diagnostics. Parts of the business, including diagnostics, are regulated by the US Food and Drug Administration (FDA) and foreign agencies. Failing to comply could force recalls, halt production or bring civil or criminal penalties.
- Tariffs and China trade tensions. Most revenue comes from outside the US, and Agilent makes products and sources parts in several countries. The 10-K highlights US and Chinese tariffs, trade disputes and currency swings as threats to results.
- Rivals and fast-changing technology. Competitors launch new products often and lab technology changes quickly. If Agilent's new instruments and services fall behind, older products may become obsolete. Mergers among rivals could also create tougher competitors.
- Unpredictable orders and a fixed cost base. Quarterly results hinge on the timing of orders, which customers can cancel. Much of Agilent's spending on sales, research and manufacturing is fixed, so a demand slump or price pressure can squeeze profit margins.
- Debt, deals and restructuring. Total debt was $3.95 billion against $1.89 billion of cash and investments as of July 31, 2026. Acquisitions and plans to consolidate manufacturing and cut costs may not deliver the expected benefits.
Recent events
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation
- Quarterly results released; Executive or board change
- Executive or board change; Investor presentation or announcement
- Change in control
- Bylaws or fiscal year changed; Shareholder vote results
- Executive or board change
- Quarterly results released
- Quarterly results released
For income and retirement investors
Agilent pays a small but steadily rising dividend. It has raised its regular dividend at least 9 years in a row through fiscal 2025, and dividends per share grew from $0.72 in FY2020 to $0.99 in FY2025. The FY2025 payout used 21.6% of earnings and 24.5% of free cash flow (cash left after paying for equipment and facilities). The yield was only 0.57% as of October 28, 2026, so the dividend provides little income, and the 10-K warns dividends are not guaranteed. Buybacks have been bigger: $4.08 billion over FY2021–FY2025, versus $1.31 billion in dividends.
In the 2008 financial crisis the shares fell about 68%. They took about 21 months after the March 2009 low to recover. They fell about 26% in the 2020 COVID crash and recovered in about two months. In the 2022 bear market they fell about 28% and had recovered by November 2022. A single stock like Agilent carries more risk than a diversified fund.
Questions investors ask
How does Agilent make money?
Agilent makes money by selling lab instruments, plus the software, services and consumables (supplies that labs use up and reorder) that go with them. In the fiscal year ended October 31, 2025, revenue was $6.95 billion. Agilent CrossLab, which covers services, supplies, software and lab automation, was the largest segment at 41.9%. Life Sciences and Diagnostics Markets made up 39.2%. It includes liquid chromatography, mass spectrometry, cancer pathology and contract drug-ingredient manufacturing. Applied Markets, which sells gas chromatography and spectroscopy tools, made up 18.9%.
Does Agilent raise its dividend every year?
Yes, so far. Agilent has raised its regular dividend at least 9 years in a row through fiscal 2025. Every year from FY2016 to FY2025 shows an increase, and the streak may go back further. Dividends per share rose from $0.72 in FY2020 to $0.99 in FY2025, about 6.6% a year. The dividend used 21.6% of FY2025 earnings. The yield was small: 0.57% as of October 28, 2026. The 10-K also says future dividends are not assured.
How has Agilent stock performed over the long term?
It depends heavily on the period. As of October 28, 2026, the share price had gained about 354% over 10 years, or roughly 16.3% a year. Over 5 years it gained only 21%, about 3.8% a year. That weak stretch included losses of 5.5%, 6.4% and 2.7% in 2022, 2023 and 2024, then a 1.9% gain in 2025. The shares rose 34.4% in 2026 through October 28. These are price changes that exclude dividends.
What is Agilent's P/E ratio?
Agilent's P/E ratio was about 39.7 as of October 28, 2026, based on FY2025 earnings of $4.57 per share. The price-to-earnings (P/E) ratio is the share price divided by a year's profit per share. A high figure means investors are paying more for each dollar of profit, usually because they expect growth. Net income grew 1.1% in FY2025. In the quarter ended July 31, 2026, net income rose 7.7% from a year earlier, on revenue growth of 8.1%.
Does Agilent have a lot of debt?
Agilent has some debt and owes more than it holds in cash. As of July 31, 2026, total debt was $3.95 billion against $1.89 billion of cash and investments, leaving net debt of about $2.06 billion. Shareholders' equity (assets minus liabilities) was $7.36 billion. For scale, Agilent generated $1.15 billion of free cash flow and $1.48 billion of operating income (profit from its core business) in FY2025. A June 25, 2026 filing reported a major agreement and a new debt or financial obligation.