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Cleveland-based regional bank (KeyBank) offering consumer and commercial banking plus a sizeable middle-market investment bank.
Cleveland-based regional bank (KeyBank) offering consumer and commercial banking plus a sizeable middle-market investment bank.
Earns most of its income from the gap between loan interest and deposit costs, with fees from KeyBanc's advisory and capital-markets work for mid-sized companies, payments and wealth management. Canada's Scotiabank bought a sizeable minority stake in 2024 and 2025.
Moat: narrow (scale, distribution). Regional deposit franchise combined with a sizeable middle-market investment bank.
Headquarters: Cleveland, Ohio, USA · Founded: 1849 · Employees: 17,883
Size KeyCorp (KEY) is a United States Financials company (Major Banks) with a market value of $22.0B, the 468th largest of 3,117 United States companies the cockpit tracks. Shares closed at $20.85 on 6 Nov 2026.
Performance Over six months the shares fell 3.5%, against +3.6% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 21 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +4.6%); the operating margin is 34.0% (peer median 37.1%).
Valuation It trades at 1.39× book value against a peer median of 1.35× (11th cheapest of 21).
Price implies The share price implies a return on equity of about 13.1%; KeyCorp delivers 11.2%, so the price asks more than the business earns today.
Credit KeyCorp has 10 bonds outstanding ($6.81B), rated BBB by the agencies and trading like BBB+ at a weighted spread of 66 bp.
Short interest Short interest is 2.8% of the free float (15 Oct 2026).
Next results Next results expected around 20 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.2B | $11.2B | $9.19B | $10.3B | $8.04B |
| Revenue growth | — | +21% | -11% | +29% | — |
| Net income | $2.12B | $1.83B | -$161M | $967M | $1.92B |
| Free cash flow | $1.47B | $1.88B | $740M | $3.07B | $4.49B |
| Capital expenditure | $121M | $107M | $65.0M | $142M | $108M |
| Total debt | $16.7B | $11.5B | $14.8B | $23.2B | $29.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| KeyCorp KEY | $22.0B | -3% | +9% | 11% | 1.39× | 13.1% |
| Huntington Bancshares HBAN | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% |
| Regions Financial RF | $24.1B | +2% | +1% | 12% | 1.46× | 13.2% |
| Fifth Third Bancorp FITB | $47.9B | +8% | +15% | 9% | 1.55× | 13.6% |
| Citizens Financial CFG | $26.5B | -1% | +4% | 9% | 1.16× | 11.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KEY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.7% | +0.7% | 7th highest of 21 |
| 6-month return | -3.5% | +3.6% | 7th lowest of 21 |
| Return on equity | 11.2% | 10.9% | 10th highest of 21 |
| Price / book | 1.39× | 1.35× | 11th cheapest of 21 |
| Trailing P/E | 11.5× | 12.8× | 8th cheapest of 19 |
| ROE the price implies | 13.1% | 7.5% | 8th most demanding of 21 |
| ROE delivered | 11.2% | 12.2% | 8th lowest of 17 |
| Bond spread | 66 bp | 96 bp | 3rd tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| KeyCorp KEY | United States | $22.0B | -3% | +9% | 11% | 1.39× | 13.1% | 11.2% |
| China Minsheng Banking 1988.HK | Hong Kong | $21.9B | -13% | -5% | 4% | 0.20× | 3.8% | 4.2% |
| Hanafinancialgr 086790.KS | South Korea | $22.5B | -7% | +39% | 10% | 0.79× | 5.3% | n/a |
| Banco BPM BAMI.MI | Italy | $22.8B | +1% | -4% | 12% | 1.30× | 13.5% | 12.5% |
| Bank of Nanjing 601009.SS | China | $22.8B | +5% | +6% | 12% | 0.77× | 2.8% | 11.9% |
| Mega Financial 2886.TW | Taiwan | $24.0B | +37% | +1% | 10% | 1.97× | 5.9% | 10.0% |
| Regions Financial RF | United States | $24.1B | +2% | +1% | 12% | 1.46× | 13.2% | 12.4% |
| Banco de Chile Sponsored ADR BCH | United States | $19.6B | +7% | +4% | 22% | 3.15× | 13.6% | 21.8% |
| E Sun Financial 2884.TW | Taiwan | $25.2B | +55% | +36% | 15% | 2.70× | 7.6% | 14.7% |
| Banco de Sabadell SAB.MC | Spain | $19.2B | +8% | -35% | 5% | 1.40× | 15.5% | 5.1% |
| Banca Mediolanum BMED.MI | Italy | $19.1B | +17% | -34% | 30% | 3.73× | 35.6% | 30.1% |
| Citizens Financial CFG | United States | $26.5B | -1% | +4% | 9% | 1.16× | 11.5% | 8.9% |
| China Everbright Bank 601818.SS | China | $26.6B | +1% | -7% | 7% | 0.36× | 1.8% | n/a |
| First Financial 2892.TW | Taiwan | $17.8B | +44% | +5% | 11% | 1.95× | 5.8% | 10.9% |
| mBank MBK.WA | Poland | $17.7B | +37% | -1% | 19% | 3.05× | 37.6% | 19.1% |
| Sumitomo Mitsui Trust Gp 8309.T | Japan | $27.4B | +38% | +5% | 11% | 1.18× | 7.5% | 10.9% |
| Banco Bradesco SA Sponsored ADR Pfd BBD | United States | $27.5B | -32% | +29% | 14% | 0.71× | 6.2% | 14.2% |
| Credicorp BAP | United States | $27.6B | +5% | +24% | 21% | 2.47× | 17.9% | 20.6% |
| Banco Santander (Brasil) S.A. Sponsored ADR BSBR | United States | $17.4B | -20% | +18% | 10% | 2.10× | 12.6% | 10.2% |
| WooriFinancialGroup 316140.KS | South Korea | $17.0B | -5% | +37% | 10% | 0.71× | 4.8% | n/a |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
KeyCorp has 10 bonds outstanding with $6.81B face value. The agencies rate it BBB; its bonds trade like BBB+. Weighted yield 5.13%, a spread of 66 bp over government bonds.