Agilent delivered a solid QQ1 2025 with revenue of USD 1.681 billion, marking a modest year-over-year uptick of 1.4% but a softer quarter-on-quarter backdrop as Q4 2024 compares against Q1 2025. The company maintained a robust gross margin of 53.48% and an operating margin of 22.37%, underscoring a disciplined cost structure amid steady demand for life sciences instrumentation. Net income of USD 318 million supported earnings per share of USD 1.12 (diluted USD 1.11), with free cash flow of USD 334 million and operating cash flow of USD 431 million, highlighting resilient cash generation even as R&D remains a meaningful investment in future growth.
Balance sheet liquidity remains strong, with USD 1.47 billion in cash and equivalents and a total debt burden of USD 3.363 billion against equity of USD 6.027 billion. Net debt stood at USD 1.896 billion, and management made ongoing use of share repurchases (USD 90 million) and dividends (USD 71 million), signaling a capital allocation framework aimed at returning value while funding strategic initiatives. The revenue mix continues to favor core Life Sciences and Applied Markets offerings, with Diagnostics and Genomics contributing to a diversified portfolio. Investors should monitor cataloged profitability, cash conversion dynamics, and the pace of lab-spend recovery in a healthcare capex cycle that remains sensitive to macro conditions and global R&D timelines.