Keycorp Financials

KEY

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Keycorp (KEY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

3/9

Keycorp passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-4.12x

For every $1 of reported earnings, Keycorp generates $-4.12 in operating cash flow ($664.0M OCF vs -$161.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$4.6B

YoY-28.0%

5Y CAGR-6.3%

10Y CAGR+1.2%

Keycorp generated $4.6B in revenue in fiscal year 2024. This represents a decrease of 28.0% from the prior year.

EBITDA

N/A

Free Cash Flow

$599.0M

YoY-78.3%

5Y CAGR-26.6%

10Y CAGR-6.9%

Keycorp generated $599.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 78.3% from the prior year.

Net Income

-$161.0M

YoY-116.6%

Keycorp reported -$161.0M in net income in fiscal year 2024. This represents a decrease of 116.6% from the prior year.

EPS (Diluted)

$-0.32

YoY-136.4%

Keycorp earned $-0.32 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 136.4% from the prior year.

Cash & Debt

$1.7B

YoY+85.2%

5Y CAGR+18.9%

Keycorp held $1.7B in cash against $12.1B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.82

YoY+0.0%

5Y CAGR+2.9%

10Y CAGR+12.6%

Keycorp paid $0.82 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-3.5%

YoY-18.6pp

5Y CAGR-30.3pp

10Y CAGR-25.4pp

Keycorp's net profit margin was -3.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 18.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$65.0M

YoY-54.2%

5Y CAGR-5.2%

10Y CAGR-3.9%

Keycorp invested $65.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 54.2% from the prior year.

KEY Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$4.6B-28.0%	$6.4B-11.8%	$7.3B-0.3%	$7.3B+8.6%	$6.7B+4.9%	$6.4B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$4.7B+16.1%	$4.0B+353.6%	$885.0M+199.0%	$296.0M-54.5%	$651.0M-50.9%	$1.3B
Income Tax	-$143.0M-173.0%	$196.0M-53.6%	$422.0M-34.3%	$642.0M+182.8%	$227.0M-27.7%	$314.0M
Net Income	-$161.0M-116.6%	$967.0M-49.6%	$1.9B-27.0%	$2.6B+95.5%	$1.3B-21.8%	$1.7B
EPS (Diluted)	$-0.32-136.4%	$0.88-54.4%	$1.93-26.6%	$2.63+107.1%	$1.27-21.6%	$1.62

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.9B+3.0%	$1.8B+3.8%	$1.8B+105.0%	$865.0M-43.3%	$1.5B-0.5%	$1.5B-0.3%	$1.5B-1.8%	$1.6B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$947.0M-2.0%	$966.0M-0.8%	$974.0M-9.9%	$1.1B-10.0%	$1.2B+3.8%	$1.2B+2.5%	$1.1B+0.1%	$1.1B
Income Tax	$112.0M-3.4%	$116.0M+6.4%	$109.0M+164.5%	-$169.0M-372.6%	$62.0M+5.1%	$59.0M+837.5%	-$8.0M-112.3%	$65.0M
Net Income	$489.0M+15.1%	$425.0M+4.9%	$405.0M+266.0%	-$244.0M-189.1%	$274.0M+25.1%	$219.0M+236.9%	$65.0M-78.5%	$303.0M
EPS (Diluted)	$0.41+17.1%	$0.35+6.1%	$0.33+210.0%	$-0.30-220.0%	$0.25+25.0%	$0.20+900.0%	$0.02-93.1%	$0.29

KEY Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$187.2B-0.6%	$188.3B-0.8%	$189.8B+1.9%	$186.3B+9.4%	$170.3B+17.5%	$145.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.7B+85.2%	$941.0M+6.1%	$887.0M-2.8%	$913.0M-16.3%	$1.1B+49.0%	$732.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.8B0.0%	$2.8B0.0%	$2.8B+2.2%	$2.7B+1.1%	$2.7B0.0%	$2.7B
Total Liabilities	$169.0B-2.7%	$173.6B-1.5%	$176.4B+4.4%	$168.9B+10.9%	$152.4B+19.1%	$128.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.1B-38.1%	$19.6B+1.3%	$19.3B+60.3%	$12.0B-12.2%	$13.7B+10.1%	$12.4B
Total Equity	$18.2B+24.2%	$14.6B+8.8%	$13.5B-22.8%	$17.4B-3.1%	$18.0B+5.5%	$17.0B
Retained Earnings	$14.6B-6.9%	$15.7B+0.4%	$15.6B+7.3%	$14.6B+14.1%	$12.8B+2.3%	$12.5B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$187.4B+1.0%	$185.5B-1.7%	$188.7B+0.8%	$187.2B-0.2%	$187.4B0.0%	$187.5B-0.4%	$188.3B+0.2%	$187.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.9B+9.7%	$1.8B-7.5%	$1.9B+9.5%	$1.7B+31.4%	$1.3B+6.3%	$1.2B+32.5%	$941.0M+22.8%	$766.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.8B0.0%	$2.8B0.0%	$2.8B0.0%	$2.8B0.0%	$2.8B0.0%	$2.8B0.0%	$2.8B0.0%	$2.8B
Total Liabilities	$167.3B+0.8%	$166.0B-2.2%	$169.7B+0.4%	$169.0B-2.1%	$172.7B-0.2%	$172.9B-0.4%	$173.6B-0.5%	$174.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$10.9B-9.5%	$12.1B-2.7%	$12.4B+2.4%	$12.1B-28.2%	$16.9B-18.8%	$20.8B+6.2%	$19.6B-8.2%	$21.3B
Total Equity	$20.1B+3.2%	$19.5B+2.5%	$19.0B+4.5%	$18.2B+22.9%	$14.8B+1.7%	$14.5B-0.6%	$14.6B+9.6%	$13.4B
Retained Earnings	$15.1B+1.5%	$14.9B+1.1%	$14.7B+1.0%	$14.6B-7.1%	$15.7B+0.3%	$15.7B-0.1%	$15.7B-1.0%	$15.8B

KEY Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$664.0M-77.1%	$2.9B-35.0%	$4.5B+287.6%	$1.2B-31.1%	$1.7B-42.4%	$2.9B
Capital Expenditures	$65.0M-54.2%	$142.0M+47.9%	$96.0M+45.5%	$66.0M+4.8%	$63.0M-25.9%	$85.0M
Free Cash Flow	$599.0M-78.3%	$2.8B-36.9%	$4.4B+302.3%	$1.1B-32.5%	$1.6B-42.9%	$2.8B
Investing Cash Flow	$2.5B+76.2%	$1.4B+113.0%	-$10.9B+27.4%	-$15.1B+39.0%	-$24.7B-402.7%	-$4.9B
Financing Cash Flow	-$2.4B+44.7%	-$4.3B-166.3%	$6.4B-53.1%	$13.7B-41.3%	$23.4B+1033.0%	$2.1B
Dividends Paid	$927.0M+1.8%	$911.0M+6.7%	$854.0M+3.8%	$823.0M-0.7%	$829.0M+3.1%	$804.0M
Share Buybacks	N/A	$0	$0-100.0%	$585.0M+336.6%	$134.0M-84.0%	$835.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$396.0M-67.9%	$1.2B+981.4%	-$140.0M-108.1%	$1.7B+895.9%	-$217.0M-160.4%	$359.0M-65.4%	$1.0B+83.2%	$566.0M
Capital Expenditures	$29.0M+26.1%	$23.0M+130.0%	$10.0M-56.5%	$23.0M+76.9%	$13.0M+8.3%	$12.0M-72.1%	$43.0M+72.0%	$25.0M
Free Cash Flow	$367.0M-69.7%	$1.2B+907.3%	-$150.0M-108.8%	$1.7B+840.9%	-$230.0M-166.3%	$347.0M-65.1%	$994.0M+83.7%	$541.0M
Investing Cash Flow	-$1.2B-144.1%	$2.7B+483.7%	-$711.0M-159.6%	$1.2B+81.3%	$658.0M+75.9%	$374.0M-36.8%	$592.0M-90.5%	$6.2B
Financing Cash Flow	$979.0M+123.8%	-$4.1B-503.6%	$1.0B+141.5%	-$2.5B-577.6%	-$362.0M+15.2%	-$427.0M+70.6%	-$1.5B+78.6%	-$6.8B
Dividends Paid	$264.0M+0.4%	$263.0M-0.8%	$265.0M+11.3%	$238.0M+3.5%	$230.0M+0.4%	$229.0M+0.4%	$228.0M+0.4%	$227.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

KEY Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-3.5%-18.6pp	15.1%-11.3pp	26.4%-9.6pp	36.0%+16.0pp	20.0%-6.8pp	26.8%
Return on Equity	N/A	6.6%-7.6pp	14.2%-0.8pp	15.1%+7.6pp	7.5%-2.6pp	10.1%
Return on Assets	-0.1%-0.6pp	0.5%-0.5pp	1.0%-0.4pp	1.4%+0.6pp	0.8%-0.4pp	1.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.67-0.7	1.34-0.1	1.44+0.7	0.69-0.1	0.76+0.0	0.73
FCF Margin	13.0%-30.1pp	43.0%-17.1pp	60.1%+45.2pp	14.9%-9.1pp	24.0%-20.1pp	44.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	25.8%+2.7pp	23.1%+0.3pp	22.8%+51.0pp	-28.2%-46.2pp	18.0%+3.7pp	14.3%+10.1pp	4.2%-15.1pp	19.4%
Return on Equity	2.4%+0.2pp	2.2%+0.1pp	2.1%	N/A	1.8%+0.3pp	1.5%+1.1pp	0.4%-1.8pp	2.3%
Return on Assets	0.3%+0.0pp	0.2%+0.0pp	0.2%+0.3pp	-0.1%-0.3pp	0.1%+0.0pp	0.1%+0.1pp	0.0%-0.1pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.54-0.1	0.62-0.0	0.65-0.0	0.67-0.5	1.14-0.3	1.43+0.1	1.34-0.3	1.59
FCF Margin	19.4%-46.5pp	65.8%+74.3pp	-8.5%-205.4pp	197.0%+212.1pp	-15.1%-37.7pp	22.6%-42.0pp	64.6%+30.1pp	34.5%

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Frequently Asked Questions

What is Keycorp's annual revenue?

Keycorp (KEY) reported $4.6B in total revenue for fiscal year 2024. This represents a -28.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Keycorp's revenue growing?

Keycorp (KEY) revenue declined by 28% year-over-year, from $6.4B to $4.6B in fiscal year 2024.

Is Keycorp profitable?

No, Keycorp (KEY) reported a net income of -$161.0M in fiscal year 2024, with a net profit margin of -3.5%.

What is Keycorp's earnings per share (EPS)?

Keycorp (KEY) reported diluted earnings per share of $-0.32 for fiscal year 2024. This represents a -136.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Keycorp have?

As of fiscal year 2024, Keycorp (KEY) had $1.7B in cash and equivalents against $12.1B in long-term debt.

What is Keycorp's net profit margin?

Keycorp (KEY) had a net profit margin of -3.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Keycorp pay dividends?

Yes, Keycorp (KEY) paid $0.82 per share in dividends during fiscal year 2024.

What is Keycorp's free cash flow?

Keycorp (KEY) generated $599.0M in free cash flow during fiscal year 2024. This represents a -78.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Keycorp's operating cash flow?

Keycorp (KEY) generated $664.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Keycorp's total assets?

Keycorp (KEY) had $187.2B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Keycorp's capital expenditures?

Keycorp (KEY) invested $65.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Keycorp's debt-to-equity ratio?

Keycorp (KEY) had a debt-to-equity ratio of 0.67 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Keycorp's return on assets (ROA)?

Keycorp (KEY) had a return on assets of -0.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Keycorp's Piotroski F-Score?

Keycorp (KEY) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Keycorp's earnings high quality?

Keycorp (KEY) has an earnings quality ratio of -4.12x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.