Keycorp (KEY)
Financials · Regional Banks · US stock · S&P 500 component
$19.99
▲ +0.05 (0.25%)
Fair valueFair
$23 +15.3% to fair value
$12fair band $14–$32$35
Day's range
$19.92 – $20.44
52-week range
$15.82 – $23.84
Red flags⚠ Heavy dilution
About Keycorp
KeyCorp is a regional bank holding company whose main subsidiary, KeyBank, provides consumer and commercial banking services, mostly in the northern and western United States. It takes deposits, makes business and consumer loans, and offers investment banking, wealth management and payments services. Net interest income, the gap between loan interest and deposit costs, is its largest source of revenue, supplemented by fee income.
Shareholders receive a dividend, yielding 4.1%. Looking at the numbers, trailing revenue is $7.8 billion, and it grew 1.1% a year over the past three years. Operating margin is 32.7%, while return on invested capital is 12%. Taken together, these figures give an X-Ray Score of 54 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $15.82 – $23.84Volume 17,198,600Daily, split-adjusted
Vitals
Market cap$21.6B
52-week range$15.82 – $23.84
Volume (last day)17,198,600
P/E (TTM)10.8
EBIT / EV yield13.9%
Free-cash-flow yield5.6%
Dividend yield4.1%
Revenue (TTM)$7.8B
Net income (TTM)$2.0B
Operating margin32.7%
Return on capital12.2%
Debt incl. leases$11.0B
Cash & securities$14.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$23
Fair
+15.3% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Price $20
Undervalued < $14Fair $14 – $32Overvalued > $32
Excess-return (bank)
$19
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Valuation
Fair
70/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield13.9%
Free-cash-flow yield5.6%
Fair value vs price1.2×
Growth
Weak
27/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)1.1%
EPS growth (3y)-7.7%
Growth consistency60%
Profitability
Weak
36/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital12.2%
Operating margin32.7%
Financial health
Strong
77/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA-1.2×
Interest coverNo interest cost
Dividends
Fair
58/100
Dividend is typical for its sector.
See the numbers →
Dividend yield4.1%
Dividends vs free cash flow74%
Dividend growth7.3%
Quarterly results: last 6 quarters
+15.7%
Mar '25
+20.6%
Jun '25
+172.7%
Sep '25
+131.8%
Dec '25
+10.2%
Mar '26
+6.7%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $2.0B, diluted EPS $0.44.
Compare with peers
MTB M&T Bank Corp62 RF Regions Financial Corp57 HBAN Huntington Bancshares...46 CFG Citizens Financial Gro...45Other Regional Banks companies by X-Ray Score.
Fundamentals checklist
● 5 Good · ● 3 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Piotroski F-ScoreGood
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Bad
Growth consistencyBad
Balance sheet
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceGood
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 50/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $7.3B | $7.3B | $6.4B | $4.6B | $7.5B |
| Operating income | $3.6B | $3.2B | $5.2B | −$306M | $2.3B |
| Net income | $2.6B | $1.9B | $967M | −$161M | $1.8B |
| Operating cash flow | $1.2B | $4.5B | $2.9B | $664M | $2.2B |
| Operating margin | 48.7% | 44.3% | 80.7% | -6.6% | 30.7% |
| Free cash flow | $1.1B | $4.4B | $2.8B | $599M | $2.1B |
| Diluted EPS | $2.63 | $1.93 | $0.88 | $-0.32 | $1.52 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
0 bullish · 4 neutral · 12 bearish
Weekly
Bearish
3 bullish · 1 neutral · 8 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 19.99 | Bearish |
| EMA 10 | 20.02 | Bearish |
| SMA 20 | 20.16 | Bearish |
| EMA 20 | 20.27 | Bearish |
| SMA 50 | 21.21 | Bearish |
| EMA 50 | 20.93 | Bearish |
| SMA 100 | 21.81 | Bearish |
| EMA 100 | 21.24 | Bearish |
| SMA 200 | 21.24 | Bearish |
| EMA 200 | 20.79 | Bearish |
Oscillators (daily)
| RSI (14) | 39.22 | Neutral |
| MACD (12, 26) | -0.37 | Bearish |
| Momentum (12) | -0.40 | Bearish |
| Stochastic %K (14) | 51.92 | Neutral |
| Williams %R (14) | -48.08 | Neutral |
| CCI (20) | -14.36 | Neutral |
Pivot points (classic, last session)
S3 19.27 | S2 19.60 | S1 19.79 | Pivot 20.12 | R1 20.31 | R2 20.64 | R3 20.83 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
0.82 USD
Yield on today's price
4.10%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1 Sep 2026 | 0.2050 |
| 2 Jun 2026 | 0.2050 |
| 3 Mar 2026 | 0.2050 |
| 2 Dec 2025 | 0.2050 |
| 2 Sep 2025 | 0.2050 |
| 27 May 2025 | 0.2050 |
| 4 Mar 2025 | 0.2050 |
| 3 Dec 2024 | 0.2050 |
| 27 Aug 2024 | 0.2050 |
| 24 May 2024 | 0.2050 |
| 26 Feb 2024 | 0.2050 |
| 27 Nov 2023 | 0.2050 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
KEY SEC filings
25 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
14 Sep 2026
8-KSEC EDGAR
Regulation FD disclosure
14 Aug 2026
8-KSEC EDGAR
Other events
4 Aug 2026
10-QSEC EDGAR
Quarterly report
21 Jul 2026
8-KSEC EDGAR
Results of operations
10 Jun 2026
8-KSEC EDGAR
Other events
10 Jun 2026
424B5SEC EDGAR
424B5
3 Jun 2026
8-KSEC EDGAR
Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.