Agilent Technologies (A) has opened fiscal Q1 2026 with revenue of US$1.8b and basic EPS of US$1.08, setting the tone against a trailing twelve month picture that shows US$7.1b in revenue and EPS of US$4.55. Over the past year, the company has seen quarterly revenue move from US$1.70b in Q4 2024 to US$1.86b in Q4 2025 and then to US$1.80b in Q1 2026. Basic EPS shifted from US$1.23 to US$1.53 and now US$1.08, leaving investors focused on how the 18.3% trailing net margin shapes the quality of these results.

See our full analysis for Agilent Technologies.

With the latest numbers on the table, the next step is to see how this earnings profile lines up with the dominant Agilent stories in the market and where the data pushes back on those narratives.

Margin Slippage With 18.3% Net Profit

• Over the last 12 months Agilent generated US$7.1b in revenue and US$1.3b in net income, which works out to an 18.3% trailing net profit margin compared with 19.3% a year earlier.
• Analysts' consensus view expects margin improvement over time, yet the current 18.3% margin and 2.5% earnings growth over the past year sit below that story, which:
  • Contrasts with the idea of ongoing margin improvement, because the reported margin is lower than the prior 19.3% level.
  • Lines up only partially with the consensus that recurring revenue and efficiencies support earnings, given 5.7% revenue growth still translated to slower 2.5% earnings growth.

5.7% Revenue Growth Trails Market

• Trailing revenue grew about 5.7% per year compared with an estimated 10.4% per year for the broader US market, indicating Agilent's top line has been growing more slowly than that benchmark.
• Analysts' consensus view links Agilent's growth to demand in pharma, chemicals and regulated testing, and this slower 5.7% pace tests that narrative in a few ways:
  • It still supports the idea of sustained demand, since revenue is growing, but at a rate below the wider US market that consensus uses as context for above market potential.
  • It highlights the risk that reliance on replacement cycles and regulated testing can cap growth if those cycles or regulatory driven projects do not expand as quickly as expected.

Have a look at how other investors are interpreting these growth figures in the broader community discussion: 📊 Read the what the Community is saying about Agilent Technologies.

Valuation Signals Versus 163.94 Target

• With the share price at US$120.97, Agilent is trading below the US$127.35 DCF fair value and also below the US$163.94 analyst price target that some investors reference, while its 26.5x P/E sits under the 34.7x industry average and 31.4x peer average.
• Consensus narrative points to recurring revenue strength and efficiency gains, and the current pricing and multiples interact with that view in a couple of important ways:
  • The discount to the US$127.35 DCF fair value and lower P/E multiples versus industry and peers are consistent with the idea that the stock is not priced at a premium despite those recurring revenue and margin improvement themes.
  • The gap between the US$120.97 share price and the US$163.94 reference target, alongside modest 4.4% five year earnings growth, shows the market is treating the stronger earnings growth forecasts as something that still needs to be earned through future results.

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Agilent Technologies on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

If this mix of margins, revenue trends, and valuation signals leaves you with mixed feelings, now is a good time to review the numbers yourself and stress test your own thesis. To see what the market is currently optimistic about, take a closer look at 4 key rewards.

See What Else Is Out There

Agilent's 5.7% trailing revenue growth, softer margin trend, and lower P/E than peers all point to the market assigning limited enthusiasm to its current story.

If you are questioning whether that kind of muted setup really fits your goals, now is a good time to scan our 53 high quality undervalued stocks and find companies where the pricing and fundamentals currently look more aligned.

This article by Simply Wall St is general in nature. 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. 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.