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KEY-PI

KeyCorp

KEY-PI

KeyCorp • NYSE
$25.01 ▼ -0.20% (-0.05)
Market Cap $20.04 B
52w High $25.72
52w Low $23.50
Dividend Yield 1.53%
P/E 10.11
Volume 22.09K
Outstanding Shares 801.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.833B ▲ $1.177B ▲ $489M ▲ 17.261% ▲ $0.41 ▲ $602M ▲
Q2-2025 $2.797B ▲ $1.154B ▲ $425M ▲ 15.195% ▲ $0.35 ▲ $547M ▲
Q1-2025 $2.698B ▲ $1.091B ▼ $405M ▲ 15.011% ▲ $0.34 ▲ $518M ▲
Q4-2024 $1.874B ▲ $1.167B ▲ $-244M ▲ -13.02% ▲ $-0.28 ▲ $-408M ▲
Q3-2024 $1.865B $1.053B $-410M -21.984% $-0.47 $-487M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $16.244B ▼ $187.409B ▲ $167.307B ▲ $20.102B ▲
Q2-2025 $21.618B ▲ $185.499B ▼ $166.015B ▼ $19.484B ▲
Q1-2025 $20.323B ▼ $188.691B ▲ $169.688B ▲ $19.003B ▲
Q4-2024 $22.507B ▼ $187.168B ▼ $168.992B ▼ $18.176B ▲
Q3-2024 $26.838B $189.763B $172.911B $16.852B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $489M ▲ $396M ▼ $-1.203B ▼ $979M ▲ $172M ▲ $367M ▼
Q2-2025 $425M ▲ $1.234B ▲ $2.728B ▲ $-4.105B ▼ $-143M ▼ $1.211B ▲
Q1-2025 $405M ▲ $-140M ▼ $-711M ▼ $1.017B ▲ $166M ▼ $-150M ▼
Q4-2024 $-244M ▲ $1.727B ▲ $1.193B ▲ $-2.453B ▼ $467M ▲ $1.704B ▲
Q3-2024 $-410M $-1.205B $272M $883M $-50M $-1.222B

Revenue by Products

Product Q1-2024Q2-2024Q3-2024Q4-2024
Cards And Payments
Cards And Payments
 $80.00M ▲$80.00M ▲$90.00M ▲$160.00M ▲
Investment Banking And Debt Placement
Investment Banking And Debt Placement
 $130.00M ▲$100.00M ▼$130.00M ▲$260.00M ▲
Other Noninterest Income
Other Noninterest Income
 $0 ▲$0 ▲$0 ▲$10.00M ▲
Service Charges On Deposit Accounts
Service Charges On Deposit Accounts
 $60.00M ▲$70.00M ▲$70.00M ▲$130.00M ▲
Trust And Investment Services
Trust And Investment Services
 $130.00M ▲$130.00M ▲$130.00M ▲$260.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown over the past few years but has recently come off its peak, and profitability has weakened noticeably. After several years of solid profits, the most recent year shows a loss, signaling pressure on margins and higher costs or credit issues. The shift from healthy operating income to an operating loss suggests the bank is navigating a tougher interest-rate and credit environment. Overall, the income statement shows a business that can generate meaningful revenue, but whose earnings are now under strain and more volatile than earlier in the period.

Balance Sheet

Balance Sheet The balance sheet looks broadly stable in size, with total assets moving within a relatively narrow range over the period. Debt was pushed up significantly a few years ago but has since been brought back down closer to earlier levels, which points to some balance-sheet de‑risking. Equity has recovered from prior dips and now stands at its strongest level in the five-year window, indicating improved capital strength despite the recent loss. In short, KeyCorp appears better capitalized and less leveraged than at its recent peak, which gives it more resilience but not immunity to future stress.

Cash Flow

Cash Flow Cash generation from operations has stayed positive throughout the period, though it has been quite up and down from year to year. Free cash flow tracks operating cash flow closely because the bank spends relatively little on traditional capital expenditures, which is typical for a financial institution. Even in the most recent, weaker earnings year, the company still produced positive free cash flow, suggesting that cash performance is more stable than accounting profits. This pattern supports the view that the core franchise still throws off cash, even when headline earnings soften.

Competitive Edge

Competitive Edge KeyCorp is a sizable regional bank competing in a crowded field of national banks, regional peers, and fintechs. Its strategy leans heavily on specialization and integration: focusing on chosen niches like healthcare professionals and embedding its banking services inside clients’ software and workflows. These moves can create stickier relationships and higher switching costs, but they also invite direct competition from both large banks and tech‑driven upstarts. Overall, its edge comes less from branch scale and more from tailored solutions, digital capabilities, and partnership ecosystems, which can be powerful if execution remains strong and credit risk is well managed.

Innovation and R&D

Innovation and R&D Innovation at KeyCorp is centered on digital platforms, cloud migration, and fintech partnerships rather than classic in‑house R&D. The Google Cloud relationship underpins a shift to a more flexible, data‑driven infrastructure, while deals like Laurel Road, GradFin, XUP, and Qolo extend its reach into digital banking for professionals, payments, and treasury services. The bank is also experimenting with AI for customer interaction and internal efficiency, which could improve service quality and risk management over time. The opportunity is meaningful, but success depends on integrating acquisitions smoothly, keeping technology secure and reliable, and staying ahead of rapid changes in digital finance.

Summary

KeyCorp shows a mixed picture: strategically forward‑leaning but financially under pressure in the most recent year. The income statement has swung from solid profitability to a loss, even as revenue remains relatively strong, indicating margin compression and a more challenging banking environment. The balance sheet is a relative bright spot, with stronger equity and reduced debt levels suggesting improved resilience. Cash flow remains consistently positive, softening the impact of weaker reported earnings. Competitively, the bank is trying to differentiate through niche digital offerings and embedded banking rather than pure scale. Its innovation program—in cloud, AI, and fintech partnerships—could deepen its moat if execution is disciplined and risk controls keep pace with growth. Overall, the story is one of a regional bank in transition: financially tested in the short term, but strategically investing to be more digital, specialized, and integrated over the long run.