KEYNYSENational Commercial BanksFiscal year ends December 31Also trades as KEY.PI, KEY.PJ, KEY.PK, KEY.PL
KEYCORP /NEW/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$19.92−0.07 (-0.35%)
Close on Oct 19, 2026
- Market cap
- $21.51B
- P/E (TTM)
- 11.6
- Dividend yield
- 4.12%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
24.3%+4.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +62.7% | +1.1% | +2.3% | +5.8% | |
| Net income | – | -1.6% | +6.4% | +7.2% | |
| EPS, diluted | – | -7.7% | +3.7% | +3.8% | |
| Free cash flow | +250.8% | -21.7% | +5.5% | +7.1% | |
| Dividend per share | 0.0% | +1.3% | +2.1% | +11.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 6.1% | 7.7% | 9.5% | |
| Return on assets | 0.7% | 0.9% | 1.0% | |
| Capex to revenue | 2.9% | 0.9% | 1.4% | |
| Diluted shares | 939M | 975M | 1.11B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Keycorp generated $11.40B from operations and spent $5.63B on capital expenditure, dividends and share buybacks. 8% of that went back into the business.
Generated
$11.40B
Used
$5.63B
Capital expenditure$476.00M8%Dividends$4.57B81%Share buybacks$585.00M10%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin24.3%
×Asset turnover0.04×
×Equity multiplier9.64×
=Return on equity, FY20259.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 24.3% | 0.04× | 9.64× | 9.5% |
| FY2024 | -3.5% | 0.02× | 11.44× | -1.0% |
| FY2023 | 15.1% | 0.03× | 13.46× | 6.9% |
| FY2022 | 26.4% | 0.04× | 12.18× | 12.4% |
| FY2021 | 36.0% | 0.04× | 10.07× | 14.8% |
| FY2020 | 20.0% | 0.04× | 9.00× | 7.7% |
| FY2019 | 26.8% | 0.04× | 8.72× | 10.5% |
| FY2018 | 28.9% | 0.05× | 9.06× | 12.2% |
| FY2017 | 20.5% | 0.05× | 9.06× | 8.6% |
| FY2016 | 15.7% | 0.04× | 8.91× | 6.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$1.83B
- Cash generatingOperating cash flow above zero$2.21B
- Return on assets improvedROA up on the prior year-0.1% → 1.0%
- Earnings backed by cashOperating cash flow above net income$2.21B vs $1.83B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise950M → 1.11B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.02 → 0.04