Logo

KEY-PL

KeyCorp

KEY-PL

KeyCorp • NYSE
$25.28 ▼ -0.39% (-0.10)
Market Cap $27.72 B
52w High $25.94
52w Low $22.33
Dividend Yield 1.55%
P/E 0
Volume 31.44K
Outstanding Shares 797.87M

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 Q2-2024Q3-2024Q4-2024Q2-2025
Cards And Payments
Cards And Payments
 $80.00M ▲$90.00M ▲$160.00M ▲$80.00M ▼
Investment Banking And Debt Placement
Investment Banking And Debt Placement
 $100.00M ▲$130.00M ▲$260.00M ▲$130.00M ▼
Other Noninterest Income
Other Noninterest Income
 $0 ▲$0 ▲$10.00M ▲$0 ▼
Service Charges On Deposit Accounts
Service Charges On Deposit Accounts
 $70.00M ▲$70.00M ▲$130.00M ▲$70.00M ▼
Trust And Investment Services
Trust And Investment Services
 $130.00M ▲$130.00M ▲$260.00M ▲$140.00M ▼

Five-Year Company Overview

Income Statement

Income Statement KeyCorp’s revenue has generally trended upward over the past several years, but the most recent year shows a clear step back from the prior peak. Profitability, which was quite solid in earlier years, has weakened meaningfully, culminating in a small loss recently at both the operating and net income level. This suggests that rising funding costs, a tougher interest-rate environment, and possibly higher credit and operating expenses are pressuring margins. Overall, the income statement tells a story of a bank that was comfortably profitable but is now working through a tougher phase for earnings quality and consistency.

Balance Sheet

Balance Sheet The balance sheet looks relatively stable in size, with total assets hovering in a similar range over the last few years rather than expanding aggressively. Debt levels spiked earlier in the period but have been brought back down more recently, pointing to some deliberate balance sheet management and a move toward a more conservative funding mix. Equity has gradually rebuilt after a dip, which helps cushion the bank against shocks and supports regulatory capital strength. Cash on hand appears modest, but that is typical for a regional bank that deploys most of its resources into loans and securities rather than idle cash.

Cash Flow

Cash Flow Cash generation from operations was very strong a couple of years ago but has since cooled, aligning with the weaker profit picture. Even so, operating cash flow and free cash flow remain positive, indicating that the core banking franchise is still producing cash, just at a lower level than before. Capital spending is relatively low and steady, which is consistent with a bank business model where most investment is in technology, systems, and people rather than heavy physical assets. Overall, cash flows are adequate but no longer as robust as in the best recent year, reinforcing the theme of a bank in a more challenging earnings cycle.

Competitive Edge

Competitive Edge KeyCorp operates as a sizable regional bank with a strong presence in the Midwest and Northeast and a particular emphasis on serving middle‑market businesses. Its mix of commercial banking, retail banking, and wealth management gives it multiple revenue streams and reduces reliance on any single client type or product. Specialized areas like KeyBanc Capital Markets, sector-focused lending, and platforms such as Laurel Road for healthcare professionals help differentiate it from more generic regional banks. At the same time, it faces intense competition from larger national banks, local community banks, and fintechs, all while dealing with the usual regulatory and economic pressures that shape the regional banking landscape.

Innovation and R&D

Innovation and R&D While banks do not run traditional R&D labs, KeyCorp is clearly investing in innovation through technology and partnerships. It is migrating a large share of its applications to the cloud, deploying AI tools to personalize customer experiences, and rolling out specialized platforms such as KeyTotal AR, KeyVAM, and the Laurel Road digital offering. These efforts aim to improve efficiency, deepen customer relationships, and grow fee-based services rather than relying solely on traditional lending. The opportunity is to turn these investments into better client retention and higher-quality revenue, but success will depend on execution quality, cybersecurity strength, and the bank’s ability to stay ahead of fast-moving digital competitors.

Summary

Taken together, KeyCorp shows the profile of an established regional bank with a solid franchise that has hit a period of earnings pressure. Past years demonstrate that the business can generate healthy profits and cash, but the most recent year’s loss and margin compression highlight the impact of a tougher rate and credit environment. The balance sheet appears reasonably well managed, with a rebuilding of equity and a retreat from peak debt levels. Strategically, the bank’s regional depth, middle‑market focus, and growing suite of digital and AI‑enabled services provide useful competitive levers. Going forward, the key questions center on how effectively KeyCorp can restore sustainable profitability, maintain strong asset quality, and translate its technology and partnership initiatives into more stable, higher‑value revenue streams—factors that are particularly important for holders of securities tied to the parent company, such as the KEY‑PL preferred shares.