KeyCorp (KEY) Key Metrics
KEY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $21.33B
- Enterprise value
- $36.33B
- P/E (TTM)
- 11.6 10-yr median 11.9
- Forward P/E
- 9.9
- PEG ratio
- 1.34
- Price / sales
- 2.9 10-yr median 2.3
- Price / book
- 1.3 10-yr median 1.1
- EV / EBITDA
- — 10-yr median 7.0
- Dividend yield
- 4.10% $0.82 a year
- Beta
- 1.09
KEY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsKEY valuation Price multiples at each fiscal year-end price.
KEY returns How much profit the business earns on the capital it uses.
KEY per-share figures Results divided by the shares outstanding at year-end.
KEY financial health Debt, liquidity and how easily interest is covered.
KEY efficiency & capital use Working capital cycle and where the cash goes.
KEY valuation history
KEY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
KEY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
KEY cash returned to shareholders
KEY price vs earnings per share
KEY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $22.60B | $16.28B | $13.43B | $16.25B | $22.14B | $16.00B | $20.29B | $15.59B | $21.96B | $17.15B |
| Enterprise value | $22.16B | $8.02B | −$12.87B | $2.59B | −$22.34B | −$14.16B | $9.98B | $7.52B | $31.85B | $27.28B |
| P/E ratio | 12.4 | — | 13.9 | 8.5 | 8.4 | 11.9 | 11.8 | 8.4 | 16.9 | 21.7 |
| Price / sales | 2.0 | 1.8 | 1.3 | 2.3 | 3.0 | 2.2 | 2.7 | 2.2 | 3.3 | 3.3 |
| Price / book | 1.1 | 0.9 | 0.9 | 1.2 | 1.3 | 0.9 | 1.2 | 1.0 | 1.5 | 1.1 |
| Price / free cash flow | 10.8 | 27.2 | 4.9 | 3.7 | 20.4 | 9.9 | 7.2 | 6.5 | 12.9 | 11.1 |
| Price / operating cash flow | 10.2 | 24.5 | 4.6 | 3.6 | 19.2 | 9.6 | 7.0 | 6.2 | 12.1 | 10.2 |
| EV / sales | 2.0 | 0.9 | -1.3 | 0.4 | -3.0 | -2.0 | 1.3 | 1.1 | 4.8 | 5.3 |
| EV / EBITDA | 9.5 | — | — | 0.8 | — | — | 4.4 | 2.9 | 13.6 | 21.3 |
| EV / free cash flow | 10.5 | 13.4 | — | 0.6 | — | — | 3.5 | 3.1 | 18.7 | 17.7 |
| Earnings yield | 8.1% | −1.0% | 7.2% | 11.8% | 11.9% | 8.4% | 8.5% | 12.0% | 5.9% | 4.6% |
| Free cash flow yield | 9.3% | 3.7% | 20.6% | 26.8% | 4.9% | 10.1% | 13.9% | 15.4% | 7.8% | 9.0% |
| Dividend yield | 4.7% | 5.7% | 6.8% | 5.3% | 3.7% | 5.2% | 4.0% | 4.2% | 2.2% | 2.0% |
| Shareholder yield (dividends + buybacks) | 5.7% | 5.8% | 7.1% | 5.5% | 8.9% | 6.0% | 8.1% | 11.3% | 7.1% | 2.8% |
| Share price at fiscal year-end | $20.64 | $17.14 | $14.40 | $17.42 | $23.13 | $16.41 | $20.24 | $14.78 | $20.17 | $18.27 |
| Per share | ||||||||||
| Revenue per share | $10.22 | $9.54 | $10.97 | $7.54 | $7.66 | $7.33 | $7.49 | $6.76 | $6.13 | $5.49 |
| Earnings per share | $1.67 | −$0.17 | $1.04 | $2.05 | $2.74 | $1.38 | $1.71 | $1.77 | $1.19 | $0.84 |
| Operating cash flow per share | $2.02 | $0.70 | $3.11 | $4.79 | $1.20 | $1.72 | $2.90 | $2.38 | $1.67 | $1.80 |
| Free cash flow per share | $1.92 | $0.63 | $2.96 | $4.67 | $1.14 | $1.65 | $2.81 | $2.28 | $1.56 | $1.65 |
| Cash per share | $10.45 | $23.70 | $52.47 | $45.48 | $59.84 | $46.00 | $23.79 | $21.49 | $4.93 | $3.94 |
| Book value per share | $18.61 | $19.14 | $15.69 | $14.42 | $18.20 | $18.45 | $17.00 | $14.79 | $13.80 | $16.24 |
| Tangible book value per share | $16.09 | $16.21 | $12.68 | $11.37 | $15.25 | $15.52 | $14.09 | $12.10 | $11.09 | $13.22 |
| Dividends per share | $0.96 | $0.98 | $0.98 | $0.92 | $0.86 | $0.85 | $0.80 | $0.62 | $0.44 | $0.36 |
| Capex per share | $0.10 | $0.07 | $0.15 | $0.12 | $0.07 | $0.06 | $0.08 | $0.09 | $0.10 | $0.15 |
| Debt per share | $10.05 | $15.01 | $24.28 | $30.83 | $13.37 | $15.07 | $13.51 | $13.84 | $14.02 | $14.73 |
| Shares outstanding | 1.10B | 949.6M | 932.8M | 933.1M | 957.4M | 974.8M | 1.00B | 1.05B | 1.09B | 938.5M |
| Change in shares outstanding | +15.3% | +1.8% | −0.0% | −2.5% | −1.8% | −2.7% | −5.0% | −3.1% | +16.0% | +11.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 9.5% | −1.0% | 6.9% | 12.4% | 14.8% | 7.7% | 10.5% | 12.2% | 8.6% | 6.1% |
| Return on invested capital (ROIC) | 12.3% | — | — | — | — | — | 24.0% | 11.5% | 5.1% | 3.6% |
| Return on assets (ROA) | 1.0% | −0.1% | 0.5% | 1.0% | 1.5% | 0.9% | 1.2% | 1.3% | 0.9% | 0.7% |
| Return on tangible assets | 1.0% | −0.1% | 0.5% | 1.0% | 1.4% | 0.8% | 1.2% | 1.4% | 1.0% | 0.6% |
| Free cash flow margin | 18.8% | 6.6% | 27.0% | 62.0% | 14.8% | 22.5% | 37.6% | 33.8% | 25.5% | 30.0% |
| Income quality (OCF / net income) | 1.21 | — | 3.00 | 2.33 | 0.44 | 1.25 | 1.69 | 1.34 | 1.40 | 2.14 |
| Financial health | ||||||||||
| Total debt | $11.00B | $14.25B | $22.64B | $28.77B | $12.80B | $14.69B | $13.54B | $14.60B | $15.26B | $13.83B |
| Cash & short-term investments | $11.45B | $22.51B | $48.94B | $42.44B | $57.29B | $44.84B | $23.85B | $22.67B | $5.36B | $3.70B |
| Net debt | −$449.0M | −$8.26B | −$26.30B | −$13.67B | −$44.48B | −$30.15B | −$10.31B | −$8.07B | $9.89B | $10.13B |
| Debt / equity | 0.54 | 0.78 | 1.55 | 2.14 | 0.73 | 0.82 | 0.79 | 0.94 | 1.02 | 0.91 |
| Debt / assets | 0.06 | 0.08 | 0.12 | 0.15 | 0.07 | 0.09 | 0.09 | 0.10 | 0.11 | 0.10 |
| Net debt / EBITDA | −0.19 | — | −20.01 | −4.07 | −13.54 | −18.09 | −4.55 | −3.12 | 4.24 | 7.90 |
| Current ratio | 0.77 | 0.17 | 0.35 | 0.30 | 0.39 | 0.35 | 0.25 | 0.25 | 154.34 | 121.09 |
| Quick ratio | 0.77 | 0.17 | 0.46 | 0.32 | 0.47 | 0.49 | 0.27 | 0.25 | 154.41 | 121.14 |
| Interest coverage | 0.6 | -0.1 | 0.3 | 3.6 | 11.0 | 2.4 | 1.5 | 2.3 | 3.1 | 2.4 |
| Working capital | −$35.38B | −$126.69B | −$96.25B | −$110.71B | −$95.56B | −$89.45B | −$87.00B | −$83.05B | $97.22B | $97.03B |
| Invested capital | $19.93B | $9.92B | −$11.66B | −$212.0M | −$27.06B | −$12.17B | $6.73B | $7.52B | $24.92B | $25.37B |
| Tangible asset value | $17.62B | $15.40B | $11.83B | $10.61B | $14.60B | $15.13B | $14.12B | $12.76B | $12.07B | $12.41B |
| Net current asset value | −$45.30B | −$143.78B | −$121.21B | −$130.02B | −$107.60B | −$103.16B | −$99.45B | −$96.78B | −$24.82B | −$23.37B |
| Graham number | $26.44 | — | $19.13 | $25.82 | $33.51 | $23.91 | $25.60 | $24.26 | $19.23 | $17.55 |
| Graham net-net per share | −$67.31 | −$152.13 | −$139.06 | −$142.86 | −$120.14 | −$116.36 | −$101.92 | −$92.86 | −$102.00 | −$118.40 |
| Capital allocation | ||||||||||
| Dividends paid | $1.05B | $927.0M | $911.0M | $854.0M | $823.0M | $829.0M | $804.0M | $656.0M | $480.0M | $335.0M |
| Share buybacks (net) | $235.0M | $18.0M | $38.0M | $38.0M | $1.14B | $134.0M | $835.0M | $1.10B | $1.08B | $140.0M |
| Dividend payout ratio | 57.6% | — | 94.2% | 44.5% | 31.4% | 61.7% | 46.8% | 35.2% | 37.0% | 42.4% |
| Dividends + buybacks / free cash flow | 61.4% | 157.8% | 34.4% | 20.5% | 181.0% | 59.8% | 58.1% | 72.9% | 91.6% | 30.8% |
| Capex / revenue | 1.0% | 0.7% | 1.4% | 1.5% | 0.9% | 0.9% | 1.1% | 1.4% | 1.7% | 2.8% |
| Capex / operating cash flow | 4.8% | 9.8% | 4.9% | 2.4% | 5.7% | 3.8% | 2.9% | 4.0% | 6.2% | 8.6% |
| Capex / depreciation | 5.10 | 0.89 | 0.92 | 0.79 | 2.06 | 0.57 | 0.35 | 0.26 | 0.28 | 0.46 |
| Stock-based compensation / revenue | 1.2% | 1.1% | 1.2% | 1.7% | 1.4% | 1.4% | 1.3% | 1.4% | 1.5% | 1.9% |
| SG&A / revenue | 29.4% | 31.7% | 27.0% | 37.8% | 38.4% | 36.0% | 32.9% | 36.5% | 38.5% | 43.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 1,758.8 | 124.9 | 131.9 | 206.1 | 208.8 | 230.1 | 224.2 | 332.0 | 463.2 | 561.5 |
| Days of inventory on hand | — | — | -804.8 | -2,294.7 | 46,658.7 | -2,340.2 | -321.0 | -11.9 | -18.4 | -24.4 |
| Days payables outstanding | 12,859.6 | — | — | 20,732.4 | -231,800.4 | 537.6 | 479.5 | 588.2 | 780.1 | 932.0 |
| Cash conversion cycle (days) | -11,100.7 | — | — | -22,821.0 | 278,667.9 | -2,647.6 | -576.2 | -268.1 | -335.3 | -394.8 |
| Receivables turnover | 0.21 | 2.92 | 2.77 | 1.77 | 1.75 | 1.59 | 1.63 | 1.10 | 0.79 | 0.65 |
| Payables turnover | 0.03 | — | — | 0.02 | −0.00 | 0.68 | 0.76 | 0.62 | 0.47 | 0.39 |
| Asset turnover | 0.06 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.04 |
| Average receivables | $53.91B | $3.10B | $3.70B | $3.97B | $4.20B | $4.50B | $4.61B | $6.48B | $8.47B | $7.93B |
| Average payables | $148.71B | — | — | $78.78B | $77.48B | $2.46B | $2.33B | $1.96B | $1.80B | $1.70B |
| Average inventory | — | — | −$9.93B | −$8.72B | −$15.60B | −$10.72B | −$1.56B | −$39.5M | −$42.5M | −$44.5M |
| Intangibles / total assets | 1.5% | 1.5% | 1.5% | 1.5% | 1.5% | 1.7% | 2.0% | 2.0% | 2.1% | 2.1% |
Computed from KEY's annual financial statements (latest annual report filed February 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
KEY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), KeyCorp traded at 12.4 times earnings, against a 10-year median of 11.9. Based on the latest twelve months, the trailing P/E is 11.6 and the forward P/E is 9.9. KeyCorp earned a return on equity of 9.5% and a return on invested capital of 12.3% in fiscal 2025. It ended the year with $11.0 billion of debt and $11.4 billion in cash and short-term investments, a net cash position of $449.0 million. It returned $1.3 billion to shareholders: $1.1 billion in dividends and $235.0 million in share buybacks, 61% of free cash flow. The share count rose 16.7% from 938.5M to 1.10B over 9 years.
See the KEY income statement, the KEY chart for price history, or the KEY stock overview for the latest quote and news.
KEY key metrics FAQ
What is KeyCorp's P/E ratio?
KeyCorp's trailing P/E ratio is 11.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.9. At the end of fiscal 2025 it was 12.4, compared with a 10-year median of 11.9.
What is KeyCorp's EV/EBITDA?
KeyCorp's enterprise value was 9.5 times EBITDA at the end of fiscal 2025 (enterprise value $22.2 billion, EBITDA $2.3 billion).
What is KeyCorp's return on equity?
KeyCorp's return on equity (ROE) was 9.5% in fiscal 2025: net income of $1.8 billion on average shareholders' equity of $19.3 billion.
What is KeyCorp's ROIC?
KeyCorp's return on invested capital was 12.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does KeyCorp have?
KeyCorp had total debt of $11.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.54 and more cash than debt.
What is KeyCorp's dividend yield?
KeyCorp's forward dividend yield is 4.10%. KeyCorp paid $1.1 billion in dividends in fiscal 2025 ($0.96 per share), a payout ratio of 57.6%.
Does KeyCorp buy back its shares?
Yes. KeyCorp spent $235.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +15.3% over the year, to 1.10B..
What is KeyCorp's free cash flow yield?
KeyCorp generated $2.1 billion of free cash flow in fiscal 2025, a free cash flow yield of 9.3% on its market value at year-end ($22.6 billion).
What is KeyCorp's current ratio?
KeyCorp's current ratio was 0.77 at the end of fiscal 2025: current assets were 0.77 times current liabilities.