KeyCorp KEY
KeyCorp, organized in 1958 under the laws of the State of Ohio, is headquartered in Cleveland, Ohio. 10-K, Item 1
- Headquarters
- Cleveland, OH
- CEO
- Christopher M. Gorman
- Next results
- around Jan 19, 2027
KEY among Financials peers
Six ratios from the latest 10-K. Each corner is the share of 75 peers the company is above, not a score.
What changed
19 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 23, 2026 against Feb 21, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
8 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 7 checks found nothing to note
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Critical audit matters changedNew this year: Table of contents (“KeyCorp’s loan and lease portfolio totaled $106.5 billion as of December 31, 2025 and the associated ALLL was $1.4 billion. As discussed in Note 1 and 4 of the financial statements, the ALLL represents management’s current estimate of lifetime credit losses inherent in the loan portfolio at the bala”). No longer listed: Goodwill Impairment Test of the Institutional Bank Reporting Unit. Same as last year: Allowance for Loan and Lease Losses (ALLL)
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Same auditor in both 10-Ks: Ernst & Young LLP
6 more checks with nothing to note
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
19 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
After disruptions in 2022 through early 2024 as a result of the increases in the Fed Funds rate and dislocations in the office sector as a result of COVID-19, the commercial and residential real estate markets have remained relatively steady over the past 18 months as they have adjusted to a more “normalized” rate environment.…
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
An inability to grow cash flow or pressure on expenses created by supply chain, insurance, or interest rate increases would result in an increase in the level of payment defaults within the sector, as well as limiting refinance options. Further, these pressures would likely result in an outflow of capital from the real estate markets,…
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
To facilitate our wholesale funding and other business activities, we maintain credit ratings with three major credit rating agencies, and their assessments of our capital and liquidity are prominent determinants of our credit ratings. Additionally, from time to time, the agencies revise their bank rating methodologies and may increase…
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
We rely on customer deposits as a low-cost and stable source of funding. KeyBank competes with banks and other financial institutions, and increasingly with non-banks that offer non-deposit and other alternative savings vehicles, such as stablecoins, for deposits. If demand for deposit alternatives were to grow materially, KeyBank could…
New risk paragraphs, against peers
Latest 10-K of each, Financials companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
From the same starting line, FY2016 to FY2025
Revenue, net income and free cash flow, each set to 100 in FY2016. What happened, from the 10-Ks. Not a forecast.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $7.3B | $6.4B | $4.6B | $7.5B |
| Net income | $1.9B | $967.0M | −$161.0M | $1.8B |
| Operating cash flow | $4.5B | $2.9B | $664.0M | $2.2B |
| Free cash flow | $4.4B | $2.8B | $599.0M | $2.1B |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$7.5B ▲ 62.7% in FY2025$1.8B in FY2025$2.1B ▲ 250.8% in FY2025
Recent filings
3 filings in the last 30 days · SEC EDGAR
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10-QNov 3, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KNov 2, 2026Other events 8-K item 8.01
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8-KOct 20, 2026Quarterly results 8-K item 2.02
About the company
KeyCorp, Cleveland, OH · from the 10-K filed Feb 23, 2026
KeyCorp, organized in 1958 under the laws of the State of Ohio, is headquartered in Cleveland, Ohio. We are a BHC under the BHCA and one of the nation’s largest bank-based financial services companies, with consolidated total assets of approximately $184.4 billion at December 31, 2025. KeyCorp is the parent holding company for KeyBank National Association, its principal subsidiary, through which most of our banking services are provided.
- Headquarters
- Cleveland, OH
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Oct 20, 2026
- Incorporated in
- OH
Email alerts
Sources
The 10-K filed Feb 23, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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