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Friday 6 November 2026 Export KEY’s income statement to Excel — free account

KeyCorp

KEY Financial Banks Regional

KeyCorp’s revenue for fiscal 2025 (year ended December 2025) was $11.2 billion, up 21.6% from fiscal 2024.

Revenue
+1.55%
EPS
+24.4%
Free cash flow
+85.7%
Total debt
+5.09%

Quarter to September 2026, against a year earlier

20.99 0.56 −2.60%
Market cap
$22.1B
P/E
11.5×
Fwd P/E
11.2×
Dividend yield
3.91%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Sold, $m 5.99
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 2 1 — — 1 1 1 — — 1 —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 22,130.00
Revenue ttm 11,230.00
Net income ttm 2,120.00
Free cash flow ttm 1,520.00
Net debt Q (3,965.00)
Valuation
P/E 11.47
Forward P/E 11.20
Price / sales 1.97
Forward P/S Powerpack
Price / FCF 14.57
Price / book 1.40
Financial health
Current ratio Q 0.84
Debt / equity Q 0.64
Interest coverage Q —
Growth
Revenue growth Q +1.55% (above 0%: growing)
Operating income growth Q +22.59% (above 0%: growing)
EPS, this year +24.31% (at or above 15%: strong)
EPS, next year A +15.51% (at or above 15%: strong)
Revenue, next year A −27.89% (below 0%: weak)
EPS, past 5 yrs +3.66%
EPS, next 5 yrs A +17.53% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 44.63%
10-year low 10-year high
P/S against its own 10 years 31.39%
10-year low 10-year high
P/B against its own 10 years 79.13%
10-year low 10-year high

Dividends

Yield
3.91%
Annual rate
0.82
Payout ratio
45.1%
Growth, 2017–25
+10.1%/yr
  1. 0.38 ’17
  2. 0.57 ’18 +49
  3. 0.71 ’19 +26
  4. 0.74 ’20 +4
  5. 0.75 ’21 +1
  6. 0.79 ’22 +5
  7. 0.82 ’23 +4
  8. 0.82 ’24 +0
  9. 0.82 ’25 +0
  10. 0.82 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 12,900 20,530 12,511 15,438
Receivables — — — —
Inventory — — — —
Other — — — —
133,082 132,975 127,183 137,809
2023 2024 2025 Q'26
Payables 145,587 149,760 148,713 153,814
ST’ Debt — — — —
Other — — — —
154,090 156,887 154,083 163,820

Compound Annual Growth %

10y 5y 3y
Sales 9.57% 8.88% 11.36%
Cash Flow 6.92% 5.71% (20.94%)
Earnings 6.56% 6.39% (2.14%)
Book Value 6.60% 2.54% 14.85%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.46 Actual 0.51

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.38 0.41 Beat by 0.03
Q1 FY26 0.41 0.44 Beat by 0.03
Q2 FY26 0.42 0.44 Beat by 0.02
Q3 FY26 0.46 0.51 Beat by 0.05
Q4 FY26 0.50 — Reports 19 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.44 0.44 0.51 — —
’25 0.33 0.35 0.41 0.43 1.52
’24 0.20 0.25 (0.47) (0.28) (0.32)
’23 0.30 0.27 0.29 0.03 0.88
’22 0.45 0.54 0.55 0.38 1.93
’21 0.61 0.73 0.65 0.64 2.63
’20 0.12 0.17 0.41 0.57 1.27
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,728 2,765 2,877 — —
’25 2,738 2,797 2,833 2,860 11,228
’24 2,679 2,715 1,906 1,936 9,236
’23 2,432 2,619 2,686 2,660 10,397
’22 1,756 1,881 2,127 2,366 8,130
’21 1,825 1,840 1,884 2,012 7,561
’20 1,728 1,882 1,800 1,927 7,337
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (62) 259 722 — —
’25 (140) 1,234 396 718 2,208
’24 359 (217) (1,205) 1,727 664
’23 718 582 566 1,037 2,903
’22 881 (78) 2,081 1,585 4,469
’21 (205) 453 915 (10) 1,153
’20 (173) 278 622 946 1,673
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (74) 233 687 — —
’25 (150) 1,211 370 674 2,105
’24 348 (221) (1,220) 1,716 623
’23 695 533 544 994 2,766
’22 870 (110) 2,064 1,553 4,377
’21 (217) 433 916 (41) 1,091
’20 (185) 263 604 928 1,610
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 7.0% a year for ten years. It grew 11.6% a year over the last ten.

Implied
7.0%
10 years, reported
11.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,390 6,868 7,393 7,694 7,337 7,561 8,130 10,397 9,236 11,228 11,230 +8.5% 8,097 8,703 9,114 (6.7%)
Gross margin, % 92.58 91.07 86.89 82.77 91.13 96.09 89.11 61.39 49.52 66.60 70.72 (26.0) pt
EBT 968 1,928 2,203 2,022 1,556 3,254 2,333 1,160 (306) 2,304 2,691 +10.1%
EBT margin, % 17.96 28.07 29.80 26.28 21.21 43.04 28.70 11.16 (3.31) 20.52 23.96 +2.6 pt
Net income 790 1,298 1,866 1,717 1,343 2,625 1,917 967 (161) 1,829 2,120 +9.8%
Per share, $
Per share, $ Revenue 5.81 6.41 7.10 7.76 7.58 7.98 8.80 11.21 9.73 10.22 10.65 +6.5%
Earnings 0.81 1.14 1.73 1.63 1.28 2.66 1.94 0.89 (0.32) 1.53 1.83 +7.3%
Cash flow 1.82 1.69 2.41 2.93 1.73 1.22 4.83 3.13 0.70 2.01 1.55 +1.1%
Capex (0.16) (0.10) (0.09) (0.07) (0.07) (0.07) (0.10) (0.15) (0.04) (0.09) (0.11) (5.5%)
Free cash flow 1.66 1.59 2.31 2.86 1.66 1.15 4.74 2.98 0.66 1.92 1.44 +1.6%
Book value 16.43 14.01 14.98 17.17 18.58 18.40 14.55 15.79 19.14 18.55 16.88 +1.4%
Shares, m 928 1,072 1,041 992 968 947 924 927 950 1,099 1,077 +1.9%
Valuation, ×
Valuation, × P/E 22.27 17.54 8.59 12.49 12.92 8.70 9.08 16.42 0.00 13.49 11.47 12.1
P/S 3.14 3.15 2.08 2.61 2.16 2.90 2.00 1.30 1.76 2.02 1.97 2.3
P/B 1.25 1.54 1.09 1.33 0.99 1.41 1.49 1.12 1.04 1.27 1.40 1.3
EV/Sales 4.64 4.37 3.39 3.83 1.58 2.82 3.87 1.94 0.85 1.79 — 2.9
EV/FCF 16.20 17.62 10.39 10.39 7.19 19.55 7.16 7.30 12.60 9.54 — 11.8
Cash, $m
Cash, $m Operating cash flow 1,689 1,815 2,506 2,906 1,673 1,153 4,469 2,903 664 2,208 1,637 +3.0%
Capex (145) (112) (97) (67) (63) (62) (92) (137) (41) (103) (117) (3.7%)
Free cash flow 1,544 1,703 2,409 2,839 1,610 1,091 4,377 2,766 623 2,105 1,520 +3.5%
Balance, $m
Balance, $m Working capital (13,726) (11,514) (11,270) (11,884) (12,672) (32,470) (24,661) (21,008) (23,912) (26,900) (26,011) +7.8%
Net debt 8,065 8,379 9,643 9,404 (4,311) (582) 15,159 6,654 (8,425) (2,594) (3,965) n/m
Shareholders’ equity 15,240 15,025 15,596 17,038 17,981 17,423 13,454 14,637 18,176 20,381 17,809 +3.3%
Returns, %
Returns, % ROA 0.65 0.89 1.30 1.14 0.78 1.41 0.96 0.44 (0.16) 0.91 1.04 +0.3 pt
ROIC 2.60 5.15 5.46 4.78 7.11 12.08 5.10 3.41 (1.96) 8.10 12.15 +5.5 pt
ROE 6.27 8.89 12.79 11.06 7.92 15.94 13.59 7.14 (2.19) 10.05 11.79 +3.8 pt
People
People Employees 15,700 18,415 18,180 17,045 16,826 17,654 18,891 17,333 16,753 17,883 — +1.5%
Revenue/emp, $m 0.34 0.37 0.41 0.45 0.44 0.43 0.43 0.60 0.55 0.63 — +6.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

KeyCorp is a Cleveland, Ohio-based bank holding company whose principal subsidiary, KeyBank National Association, provides most banking services. It operates through Consumer Bank and Commercial Bank segments and had consolidated total assets of approximately $184.4 billion at December 31, 2025.

Consumer Bank provides individuals and small businesses with deposit accounts, investment products, personal-finance and financial-wellness services, consumer lending, student-loan refinancing, mortgages, home-equity lending, credit cards, treasury services and business advice. It also provides wealth-management and investment services, including trust, portfolio-management and charitable-giving support for high-net-worth and nonprofit clients.

KeyCorp vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BBDO Banco Bradesco SA $28.5B 5.2× — +16.65% (above 0%: growing) +44.44% (above 0%: growing) +1,455.10% (above 0%: growing) 34.57% 0.00% Compare
BAP Credicorp Ltd. $27.6B 12.9× 11.7× +12.23% (above 0%: growing) +16.83% (above 0%: growing) +76.09% (above 0%: growing) 82.34% 0.00% Compare
CFG Citizens Financial Group, Inc. $26.8B 12.8× 12.0× +5.83% (above 0%: growing) +33.96% (above 0%: growing) −75.86% (below 0%: shrinking) 71.05% 0.00% Compare
FCNCA First Citizens BancShares, Inc. $25.5B 12.3× 11.9× +0.11% (above 0%: growing) +31.07% (above 0%: growing) +28.65% (above 0%: growing) 67.05% 0.00% Compare
RF Regions Financial Corporation $24.2B 11.0× 10.7× +0.16% (above 0%: growing) +16.13% (above 0%: growing) −39.63% (below 0%: shrinking) 80.24% 0.00% Compare
KEY KeyCorp $22.1B 11.5× 11.2× +1.55% (above 0%: growing) +24.39% (above 0%: growing) +85.68% (above 0%: growing) 71.05% 0.00%
BCH Banco De Chile $19.6B 14.0× 14.3× +11.52% (above 0%: growing) +4.13% (above 0%: growing) +134.20% (above 0%: growing) 75.90% 0.00% Compare
BSBR Banco Santander Brasil SA $17.7B 6.2× — +14.98% (above 0%: growing) −5.56% (below 0%: shrinking) +274.78% (above 0%: growing) 40.57% 0.00% Compare
EWBC East West Bancorp, Inc. $17.7B 12.2× 12.2× −0.14% (below 0%: shrinking) +4.91% (above 0%: growing) +112.58% (above 0%: growing) 66.97% 0.00% Compare
Median of peers $24.9B 12.3× 12.0× +8.68% +16.48% +94.33% 69.05% 0.00%

All 327 Banks Regional stocks →

From the latest earnings call

Updated

  • CEO Chris Gorman said commercial loan growth came from new clients and higher credit-line use, while investment banking pipelines grew from the prior quarter.
  • CFO Clark Khayat said KeyCorp expects client deposits to fund its remaining 2026 loan growth and raised its full-year loan-growth outlook.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 88.41%
Held by the ten largest 53.52%
Holder Shares Stake Change
BANK OF NOVA SCOTIA 157.76m 14.78% −5.23m
Vanguard 127.44m 11.94% +48.65k
BlackRock 88.46m 8.29% −257.89k
State Street 51.37m 4.81% +4.24m
Fidelity (FMR) 50.28m 4.71% +3.54m
Geode Capital Management 25.62m 2.40% +194.27k
Invesco 20.89m 1.96% +1.65m
T. Rowe Price 17.95m 1.68% +1.25m
Deutsche Bank (DWS) 16.50m 1.55% +6.54m
Goldman Sachs 14.85m 1.39% +352.55k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 27 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 11.52m 16.73m 160.05
2024 18.64m 21.16m 126.76
2023 10.27m 4.46m 101.10
2022 10.46m 6.08m 114.30
2021 8.65m 15.58m 145.90
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

KeyCorp (KEY) Latest News

29 Oct

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19 Oct

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KEY metrics, ten years each

stockrow.com/KEY · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com