KeyCorp (KEY) AI Stock Analysis

• Market Cap: $23.42B
• Dividend Yield: 3.9%
• Average Volume (3M): 13.58M
• Price to Earnings (P/E): 26.6
• Beta (1Y): 1.24
• Revenue Growth: 3.86%
• EPS Growth: 5473.29%
• Country: US
• Employees: 16,989
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.41
• Shares Outstanding: 1,085,908,400
• 10 Day Avg. Volume: 8,969,330
• 30 Day Avg. Volume: 13,578,768
• PEG Ratio: 0.74
• Price to Book (P/B): 0.90
• Price to Sales (P/S): 1.80
• P/FCF Ratio: 27.17
• Enterprise Value/Market Cap: 1.43
• Enterprise Value/Revenue: 3.29
• Enterprise Value/Gross Profit: 5.76
• Enterprise Value/Ebitda: 26.68
• 1Y Price Target: $22.73
• Price Target Upside: 6.71% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $21.00 ▼(-1.41% Downside)

KeyCorp's overall stock score of 69 reflects a strong recovery in financial performance, with improved revenue growth and profitability. The earnings call highlighted strategic growth and a robust capital position, although challenges in expense management and consumer loan growth remain. Technical analysis suggests bullish momentum, but the stock appears overbought. Valuation concerns persist due to a high P/E ratio, though the dividend yield offers some compensation.

Positive Factors

Revenue Growth

Sustained revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.

Capital Position

A strong capital position enhances financial flexibility, allowing for strategic investments and resilience against economic downturns.

Cash Flow Generation

Improved cash flow generation strengthens the company's ability to reinvest in growth opportunities and manage debt effectively.

Negative Factors

Expense Management

Rising expenses can pressure margins and profitability, necessitating improved cost management to sustain long-term growth.

Consumer Loan Growth

A decline in consumer loans may limit revenue growth potential, highlighting the need for diversification in lending strategies.

Middle Market M&A Activity

Weak M&A activity in the middle market segment could hinder growth prospects in investment banking, affecting overall revenue streams.

KeyCorp Business Overview & Revenue Model

Company Description

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses. It also provides a suite of banking and capital market products, such as syndicated finance, debt and equity capital market products, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance, as well as commercial mortgage loans comprising consumer, energy, healthcare, industrial, public sector, real estate, and technology loans for middle market clients. In addition, the company offers community development financing, securities underwriting, brokerage, and investment banking services. As of December 31, 2021, it operated through a network of approximately 999 branches and 1,317 ATMs in 15 states, as well as additional offices, online and mobile banking capabilities, and a telephone banking call center. KeyCorp was founded in 1849 and is headquartered in Cleveland, Ohio.

How the Company Makes Money

KeyCorp generates revenue through multiple key streams, primarily from net interest income and non-interest income. Net interest income is derived from the interest earned on loans and securities, minus the interest paid on deposits and borrowings. This constitutes a significant portion of its overall revenue. Additionally, KeyCorp earns non-interest income through fees charged for services such as wealth management, investment banking, and trust services, as well as transaction fees from payment processing. The company also benefits from partnerships with various financial institutions and technology companies, enhancing its service offerings and operational efficiency. Factors such as the economic environment, interest rate fluctuations, and regulatory changes can also impact its earnings.

KeyCorp Financial Statement Overview

Summary

KeyCorp demonstrates a strong recovery trajectory with improved revenue growth and profitability margins in the TTM period. The balance sheet shows reduced leverage, enhancing financial stability, while cash flow generation has significantly improved. Despite these positive trends, there are areas for improvement in operational efficiency and cash flow management.

Income Statement

KeyCorp's income statement shows a strong recovery with a TTM revenue growth rate of 10.48% and improved margins compared to the previous year. The gross profit margin is healthy at 57.17%, and the net profit margin has improved to 10.54% from a negative margin in 2024. However, the EBIT and EBITDA margins are still relatively low, indicating room for operational efficiency improvements.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 0.61 in the TTM period, showing a significant improvement from previous years. The return on equity is modest at 5.60%, indicating average profitability. The equity ratio is not provided, but the overall leverage has decreased, enhancing financial stability.

Cash Flow

Cash flow analysis reveals a substantial free cash flow growth of 76.93% in the TTM period, indicating improved cash generation. The operating cash flow to net income ratio is low at 0.0185, suggesting potential cash flow management issues. However, the free cash flow to net income ratio is strong at 0.98, reflecting efficient cash conversion.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.20B	9.05B	10.23B	7.91B	7.33B	7.14B
Gross Profit	5.83B	4.06B	5.73B	6.52B	7.46B	5.47B
EBITDA	1.26B	-233.00M	1.31B	2.50B	3.29B	1.67B
Net Income	1.07B	-161.00M	967.00M	1.92B	2.63B	1.34B
Balance Sheet
Total Assets	187.41B	187.17B	188.28B	189.81B	186.35B	170.34B
Cash, Cash Equivalents and Short-Term Investments	16.24B	22.51B	48.94B	42.44B	57.29B	44.84B
Total Debt	12.27B	14.25B	22.64B	28.77B	12.80B	14.69B
Total Liabilities	167.31B	168.99B	173.64B	176.36B	168.92B	152.35B
Stockholders Equity	20.10B	18.18B	14.64B	13.45B	17.42B	17.98B
Cash Flow
Free Cash Flow	3.13B	599.00M	2.76B	4.36B	1.09B	1.61B
Operating Cash Flow	3.22B	664.00M	2.90B	4.47B	1.15B	1.67B
Investing Cash Flow	2.01B	2.50B	1.42B	-10.93B	-15.07B	-24.72B
Financing Cash Flow	-4.56B	-2.36B	-4.27B	6.44B	13.74B	23.41B

KeyCorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 21.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KEY, the sentiment is Positive. The current price of 21.3 is above the 20-day moving average (MA) of 20.89, above the 50-day MA of 19.02, and above the 200-day MA of 17.30, indicating a bullish trend. The MACD of 0.63 indicates Positive momentum. The RSI at 67.37 is Neutral, neither overbought nor oversold. The STOCH value of 73.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KEY.

KeyCorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HBAN	83 Outperform	$28.82B	12.86	10.37%	3.50%	5.73%	38.39%
RF	79 Outperform	$25.18B	12.63	11.43%	3.74%	4.00%	28.54%
WTFC	78 Outperform	$9.89B	13.56	11.69%	1.40%	3.58%	13.93%
CFG	75 Outperform	$26.69B	17.43	6.71%	2.89%	-3.93%	40.62%
FITB	74 Outperform	$32.91B	14.89	11.52%	3.14%	0.15%	11.62%
KEY	69 Neutral	$23.42B	26.63	5.82%	3.90%	3.86%	5473.29%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

KeyCorp Corporate Events

KeyCorp Registers Shares Issued to Bank of Nova Scotia

On December 23, 2025, KeyCorp filed a prospectus supplement with the U.S. Securities and Exchange Commission to register 161,968,762 common shares that had been issued to The Bank of Nova Scotia under an investment agreement dated August 12, 2024. The filing, which satisfied KeyCorp’s contractual obligation to complete this step by December 27, 2025, also included a related legal opinion, formalizing the regulatory treatment of the shares and advancing the implementation of the previously announced investment arrangement with The Bank of Nova Scotia.

The most recent analyst rating on (KEY) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on KeyCorp stock, see the KEY Stock Forecast page.

KeyCorp Highlights Strong 2025 Performance at Conference

On December 9, 2025, KeyCorp released an investor presentation in conjunction with the Goldman Sachs Financial Services Conference. The presentation highlighted KeyCorp’s strong financial performance, including a record revenue year in 2025, significant growth in net interest income, and a robust capital return strategy, positioning the company favorably for future growth.

The most recent analyst rating on (KEY) stock is a Hold with a $21.00 price target. To see the full list of analyst forecasts on KeyCorp stock, see the KEY Stock Forecast page.

KeyCorp Subsidiary to Redeem Senior Bank Notes

On November 25, 2025, KeyCorp announced that its subsidiary, KeyBank National Association, issued a redemption notice to redeem all outstanding 4.700% Fixed Rate Senior Bank Notes due January 26, 2026, on December 29, 2025. This strategic move involves redeeming the notes at a price equal to 100% of the outstanding principal amount plus accrued interest, potentially impacting the company’s financial positioning and stakeholder interests.

The most recent analyst rating on (KEY) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on KeyCorp stock, see the KEY Stock Forecast page.

KeyCorp to Present at Boston Conference on Nov 6

KeyCorp announced its participation in the BancAnalysts Association of Boston Conference on November 6, 2025, where it will review its performance, strategy, and outlook. The company highlights its robust consumer banking foundation, with significant growth in relationship households and assets under management, emphasizing a relationship-driven strategy that has led to improved client satisfaction and financial performance.

The most recent analyst rating on (KEY) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on KeyCorp stock, see the KEY Stock Forecast page.