KEY FY 2020 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2020 Earnings

Reported February 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$7.1B	—	$7.5B	—	-4.9%
Op. Income	$1.6B	—	$2.0B	—	-23.0%
Gross Margin	76.6%	—	76.4%	—	0.2pp
Net Margin	18.8%	—	22.9%	—	-4.1pp
EPS (Diluted)	$1.27	—	$1.62	—	-21.6%
Free Cash Flow	$1.6B	—	$2.8B	—	-42.9%

Revenue Flow

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$1.7B
GROSS PROFIT	$5.5B
R&D Expenses	$0
Selling & Marketing	$97M
General & Administrative	$2.5B
SG&A Expenses	$2.6B
Other Expenses	$1.3B
Operating Expenses	$3.9B
Cost & Expenses	$5.6B
OPERATING INCOME	$1.6B
Interest Income	$4.7B
Interest Expense	$651M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$227M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$14M
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	-$106M
BOTTOM LINE NET INCOME	$1.2B
D&A	$111M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.1B
Cost of Revenue	$1.7B
GROSS PROFIT	$5.5B
R&D Expenses	$0
Selling & Marketing	$97M
General & Administrative	$2.5B
SG&A Expenses	$2.6B
Other Expenses	$1.3B
Operating Expenses	$3.9B
Cost & Expenses	$5.6B
OPERATING INCOME	$1.6B
Interest Income	$4.7B
Interest Expense	$651M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$227M
Net Income from Continuing Ops	$1.3B
Net Income from Discontinued Ops	$14M
Other Adjustments	$0
NET INCOME	$1.3B
Net Income Deductions	-$106M
BOTTOM LINE NET INCOME	$1.2B
D&A	$111M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.3B
Depreciation & Amortization	$111M
Stock-Based Compensation	$101M
Deferred Income Tax	-$191M
Other Non-Cash Items	$4M
Change in Working Capital	$305M
OPERATING CASH FLOW	$1.7B
Capital Expenditure	-$63M
Acquisitions (Net)	$0
Purchases of Investments	-$30.7B
Sales/Maturities of Investments	$13.1B
Other Investing Activities	-$7.1B
NET CASH FROM INVESTING	-$24.7B
Net Debt Issuance	$986M
Common Stock Repurchased	-$134M
Common Dividends Paid	-$829M
Other Financing Activities	$23.4B
NET CASH FROM FINANCING	$23.4B
FREE CASH FLOW	$1.6B
Net Change in Cash	$359M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$43.8B
Net Receivables	$4.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$49.2B
PP&E (Net)	$753M
Goodwill	$2.7B
Intangible Assets	$188M
Long-Term Investments	$105.7B
Tax Assets	$0
Other Non-Current Assets	$11.8B
TOTAL NON-CURRENT ASSETS	$121.1B
TOTAL ASSETS	$170.3B
Account Payables	$0
Short-Term Debt	$979M
Deferred Revenue	$0
Other Current Liabilities	$135.3B
TOTAL CURRENT LIABILITIES	$138.6B
Long-Term Debt	$13.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.3B
Other Non-Current Liabilities	-$11.8B
TOTAL NON-CURRENT LIABILITIES	$13.7B
TOTAL LIABILITIES	$152.4B
Common Stock	$1.3B
Additional Paid-In Capital	$6.3B
Retained Earnings	$12.8B
Treasury Stock	-$4.9B
Accum. Other Comp. Income	$738M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$18.0B
Minority Interest	$0
TOTAL EQUITY	$18.0B
TOTAL LIABILITIES & EQUITY	$170.3B
Total Debt	$14.7B
Net Debt	$13.6B