AGILENT TECHNOLOGIES (A) Company Report

Agilent delivered $6.9 B in FY25 revenue (+6% CAGR FY20–25) and $5.59 non-GAAP EPS (+11% CAGR FY20–25).
Q1 FY26 guidance: net revenue of $1.79 B–$1.82 B and EPS of $1.35–$1.38; FY26 guidance: $7.3 B–$7.4 B revenue with EPS of $5.86–$6.00.
Long-range outlook targets 5–7% annual core growth, 50–100 bps of operating margin expansion per year, and double-digit EPS growth over the next 3–5 years.
Maintains leadership with >90% customer satisfaction, >90% retention, $1.2 B digital orders in FY25, and 82% free cash flow to adjusted net income conversion (FY20–25).

Jan 13, 2026, 5:00 PM

Presentation

Agilent outlines growth strategy at 44th J.P. Morgan Healthcare Conference

New Projects/Investments

Agilent reported ~$7 billion revenue with 26% operating margins and two-thirds recurring revenue, a 700 bps increase since 2020.
Its Ignite operating system doubled pricing to 100 bps in 2025, tripled cost reductions, and simplified the organization to accelerate execution.
Reiterated long-range targets of 5–7% organic revenue CAGR, 50–100 bps operating margin expansion, and double-digit EPS growth.
Instrument replacement cycles are driving above-market growth: LC +11%, LCMS +16% in Q4 with a 200–300 bps uplift, and GC high-single-digit growth with ~100 bps uplift over a 3–5 year cycle.
Specialty CDMO business is expected to grow mid-teens in 2026 fueled by GLP-1 and siRNA demand, plus $300 million of incremental TAM from pharma reshoring by 2030.

Jan 13, 2026, 5:00 PM

Transcript

Agilent Technologies presents at 44th Annual J.P. Morgan Healthcare Conference

Guidance Update

Agilent highlighted its presence in large, high-growth markets (~$80–83 B, 4–6% CAGR) with $7 B revenue and 26% operating margins, and a shift toward recurring revenue (now two-thirds of total, +700 bps since 2020).
Strategic priorities include customer enablement & intimacy, accelerating innovation (asymmetric investments in key products), lab productivity & digital solutions, and targeted adjacent market expansions supported by the Ignite operating system.
Strong fundamentals: industry-leading 90% customer satisfaction and retention rates, record $1.2 B digital revenues (40% of orders), and high-value field engineer leads (30% of leads with 2× conversion).
Segment outlook: LDG sees instrument replacement cycles and pharma reshoring (~$1 B TAM to 2030) driving growth; AMG benefits from GC replacement and PFAS regulatory tailwinds; ACG leverages consumables, services, and enterprise solutions in top pharma labs.
Reiterated long-range targets: 5–7% revenue CAGR, 50–100 bps margin expansion, and double-digit EPS growth, with FY26 guidance of 4–6% core revenue growth and 75 bps operating margin improvement.

Jan 13, 2026, 5:00 PM

Transcript

Agilent presents at JPMorgan Healthcare Conference

Guidance Update

New Projects/Investments

Agilent operates in $80–83 billion markets with $7 billion in revenue, 26% operating margins and 66% of sales from consumables, services and software, reflecting a 700 bps increase in recurring revenue since 2020.
The Ignite operating system is driving enterprise transformation—doubling pricing gains to 150 bps in late 2025, tripling procurement cost savings, simplifying the product portfolio and fully mitigating tariffs in 2026.
In Life Sciences & Diagnostics, growth is driven by an accelerating LC replacement cycle, a $1 billion addressable market from U.S. pharma reshoring through 2030 and expanding siRNA specialty CDMO; Applied Markets boasts leadership in GC and spectroscopy with $1.2 billion in digital orders (20% YoY).
Agilent reaffirmed its long-range targets: 5–7% revenue CAGR, 50–100 bps of operating margin expansion and double-digit EPS growth; FY 2026 guidance calls for 4–6% core revenue growth and 75 bps of margin expansion, with tariffs neutral in H2.

Jan 13, 2026, 5:00 PM

Transcript

Agilent outlines FY26 guidance and transformation progress at Citi Healthcare Conference

Guidance Update

M&A

Revenue Acceleration/Inflection

Agilent’s Ignite transformation has shifted decision-making to an enterprise level, delivering procurement, pricing, and tariff mitigation wins, and broad organizational buy-in after six months of execution.
FY26 revenue growth is guided at 4–6%, underpinned by continued pharma recovery, stable China at ~$300 million per quarter, and expected 75 bps operating-margin expansion from pricing and volume leverage.
China performance ex-stimulus is seen as roughly flat at ~$300 million/qtr, with near-term quarterly swings due to Lunar New Year timing and consumables pull-ins, and potential stimulus late in the year.
The specialty CDMO segment (NASD + BioVectra) at $450–500 million revenue is growing mid-teens, with a 60/40 commercial/clinical mix, capacity expansions for siRNA, and GLP-1 volume tailwinds.
Agilent identifies a $1 billion digital/AI reshoring opportunity through 2030 (targeting ~30% share), and emphasizes disciplined capital allocation across internal growth, CDMO investments, M&A, and anti-dilutive share repurchases.

Dec 4, 2025, 2:00 PM

Transcript

Agilent outlines FY25 transformation, 2026 guidance at Citi conference

Guidance Update

M&A

Agilent’s Ignite transformation has shifted decision-making from bottoms-up to an enterprise model, delivering early quick wins in strategic pricing and global procurement, regionalizing manufacturing to mitigate tariffs and improve customer value.
For 2026, Agilent targets 4–6% organic revenue growth driven by a pharma recovery and stable China sales (≈$300 million/quarter), with 75 bps of operating margin expansion plus upside to 90 bps; downside risks include SMID-cap biotech weakness and academic spending.
The specialty CDMO (NASD + BioVectra) business at $450–500 million of revenue was accretive to Agilent’s adjusted operating margin in 2025 and is expected to grow at mid-teens rates as new capacity (Train C/D) comes online.
Capital allocation prioritizes internal R&D, consumables and CDMO capacity, plus targeted M&A in software, automation and niche CDMO, underpinned by a more disciplined integration model via Ignite, alongside anti-dilutive share buybacks and dividends.

Dec 4, 2025, 2:00 PM

Transcript

Agilent reports Q4 2025 results

Earnings

Guidance Update

Q4 revenue was $1.86 billion, up 7.2% core and 9.4% reported; diluted EPS of $1.59, a 9% YoY increase, both above guidance.
Broad-based growth: LC instrument sales grew low double-digit and LCMS mid-teens; specialty CDMO revenue rose over 40% core; PFAS business grew high single-digits.
Margins and cash generation strengthened: gross margin 54.1%, operating margin 27.2% (200 bps sequential expansion); operating cash flow of $545 million; share repurchases of $85 million, dividends of $70 million; net leverage 0.8x.
FY 2026 outlook: core revenue growth of 4–6% to $7.3–7.4 billion, EPS of $5.86–6.00, and 75 bps of operating margin expansion.

Nov 24, 2025, 9:30 PM

Transcript

Agilent announces Q4 2025 results

Earnings

Guidance Update

Q4 revenue of $1.86 billion (+7.2% core) and EPS of $1.59 (+9% yoy), both above guidance
Operating margin improved to 27.2% (+200 bps sequential) and gross margin to 54.1%, driven by Ignite pricing and tariff mitigation
FY 2026 guidance: $7.3–7.4 billion revenue (4–6% core growth), 75 bps operating margin expansion, EPS $5.86–6.00, and a 14.5% tax rate
Q4 capital deployment included $85 million share repurchases, $70 million dividends, $93 million CapEx; net leverage remained 0.8x
Segment performance: Life Sciences & Diagnostics +11%, Applied Markets +3%, CrossLab +6%; Americas & Europe +11%, China –4%, Asia ex-China +4%

Nov 24, 2025, 9:30 PM

Transcript

Agilent reports Q4 2025 results

Earnings

Guidance Update

M&A

Q4 revenue was $1.86 billion, with core growth of 7.2% and reported growth of 9.4%; Life Sciences & Diagnostics grew 11%, Applied Markets Group grew 3%, and CrossLab grew 6%.
Gross margin improved to 54.1% (+100 bps sequentially) and operating margin to 27.2% (+200 bps sequentially); EPS was $1.59, up 9% year-over-year.
FY 2026 guidance: revenue of $7.3 billion–$7.4 billion (core growth 4%–6%), 75 bps of operating margin expansion, and EPS of $5.86–$6.00 (+5%–7%).
Q4 operating cash flow was $545 million, with $93 million of CapEx, $85 million in share repurchases, $70 million in dividends (including a 3% dividend increase), and a 0.8x net leverage ratio.
The Ignite operating system delivered over $150 million in annualized savings and will fully mitigate current tariffs in FY 2026; integration of the BioVectra acquisition has been highly productive, bolstering CDMO capacity.

Nov 24, 2025, 9:30 PM

Transcript

Agilent Technologies reports strong Q4 profit growth, raises FY26 outlook

Earnings

Guidance Update

Agilent delivered Q4 profits of $434 million and revenues of $1.86 billion, a 9.4% year-over-year increase driven by robust life sciences and diagnostics demand.
For fiscal 2026, the company forecasts revenue of $7.3 billion–$7.4 billion and adjusted EPS of $5.86–$6.00.
Agilent’s fiscal Q1 guidance calls for revenue of $1.79 billion–$1.82 billion and adjusted EPS of $1.35–$1.38.
Segment growth in Q4 included 15% in life sciences & diagnostics, 7% in CrossLab and 4% in applied markets.

Nov 23, 2025, 11:07 PM

Morningstar

Earnings Transcripts

Quarterly earnings call transcripts for AGILENT TECHNOLOGIES.

Q4 2025

Nov 24, 2025

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Q3 2025

Aug 27, 2025

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Q2 2025

May 28, 2025

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