KEY FY 2019 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2019 Earnings

Reported February 26, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$7.5B	—	$7.1B	—	5.3%
Op. Income	$2.0B	—	$2.2B	—	-8.2%
Gross Margin	76.4%	—	82.9%	—	-6.5pp
Net Margin	22.9%	—	26.2%	—	-3.3pp
EPS (Diluted)	$1.62	—	$1.71	—	-5.3%
Free Cash Flow	$2.8B	—	$2.4B	—	17.2%

Revenue Flow

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$1.8B
GROSS PROFIT	$5.7B
R&D Expenses	$0
Selling & Marketing	$96M
General & Administrative	$2.4B
SG&A Expenses	$2.5B
Other Expenses	$1.2B
Operating Expenses	$3.7B
Cost & Expenses	$5.5B
OPERATING INCOME	$2.0B
Interest Income	$5.2B
Interest Expense	$1.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$314M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$9M
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	-$97M
BOTTOM LINE NET INCOME	$1.6B
D&A	$241M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.5B
Cost of Revenue	$1.8B
GROSS PROFIT	$5.7B
R&D Expenses	$0
Selling & Marketing	$96M
General & Administrative	$2.4B
SG&A Expenses	$2.5B
Other Expenses	$1.2B
Operating Expenses	$3.7B
Cost & Expenses	$5.5B
OPERATING INCOME	$2.0B
Interest Income	$5.2B
Interest Expense	$1.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.0B
Income Tax Expense	$314M
Net Income from Continuing Ops	$1.7B
Net Income from Discontinued Ops	$9M
Other Adjustments	$0
NET INCOME	$1.7B
Net Income Deductions	-$97M
BOTTOM LINE NET INCOME	$1.6B
D&A	$241M
EBIT	$2.0B
EBITDA	$2.3B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.7B
Depreciation & Amortization	$241M
Stock-Based Compensation	$96M
Deferred Income Tax	$53M
Other Non-Cash Items	$990M
Change in Working Capital	-$191M
OPERATING CASH FLOW	$2.9B
Capital Expenditure	-$85M
Acquisitions (Net)	-$185M
Purchases of Investments	-$5.8B
Sales/Maturities of Investments	$6.8B
Other Investing Activities	-$5.7B
NET CASH FROM INVESTING	-$4.9B
Net Debt Issuance	-$1.3B
Common Stock Repurchased	-$835M
Common Dividends Paid	-$804M
Other Financing Activities	$4.5B
NET CASH FROM FINANCING	$2.1B
FREE CASH FLOW	$2.8B
Net Change in Cash	$54M

Balance Sheet

Item	Amount
Cash & Equivalents	$732M
Short-Term Investments	$23.1B
Net Receivables	$4.7B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$28.5B
PP&E (Net)	$814M
Goodwill	$2.7B
Intangible Assets	$253M
Long-Term Investments	$102.0B
Tax Assets	$0
Other Non-Current Assets	$10.7B
TOTAL NON-CURRENT ASSETS	$116.5B
TOTAL ASSETS	$145.0B
Account Payables	$0
Short-Term Debt	$1.1B
Deferred Revenue	$0
Other Current Liabilities	$111.9B
TOTAL CURRENT LIABILITIES	$115.5B
Long-Term Debt	$12.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$89M
Other Non-Current Liabilities	-$12.7B
TOTAL NON-CURRENT LIABILITIES	$12.4B
TOTAL LIABILITIES	$128.0B
Common Stock	$1.3B
Additional Paid-In Capital	$6.3B
Retained Earnings	$12.5B
Treasury Stock	-$4.9B
Accum. Other Comp. Income	$26M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$17.0B
Minority Interest	$0
TOTAL EQUITY	$17.0B
TOTAL LIABILITIES & EQUITY	$145.0B
Total Debt	$13.5B
Net Debt	$12.8B