KEY FY 2021 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2021 Earnings

Reported February 22, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$7.3B	—	$7.1B	—	2.7%
Op. Income	$3.3B	—	$1.6B	—	109.1%
Gross Margin	101.7%	—	76.6%	—	25.1pp
Net Margin	35.8%	—	18.8%	—	17.0pp
EPS (Diluted)	$2.63	—	$1.27	—	107.1%
Free Cash Flow	$1.1B	—	$1.6B	—	-32.5%

Revenue Flow

Item	Amount
REVENUE	$7.3B
Cost of Revenue	-$122M
GROSS PROFIT	$7.5B
R&D Expenses	$0
Selling & Marketing	$126M
General & Administrative	$2.7B
SG&A Expenses	$2.8B
Other Expenses	$1.4B
Operating Expenses	$4.2B
Cost & Expenses	$4.1B
OPERATING INCOME	$3.3B
Interest Income	$4.4B
Interest Expense	$296M
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.3B
Income Tax Expense	$642M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$13M
Other Adjustments	$0
NET INCOME	$2.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.5B
D&A	$32M
EBIT	$3.3B
EBITDA	$3.3B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$7.3B
Cost of Revenue	-$122M
GROSS PROFIT	$7.5B
R&D Expenses	$0
Selling & Marketing	$126M
General & Administrative	$2.7B
SG&A Expenses	$2.8B
Other Expenses	$1.4B
Operating Expenses	$4.2B
Cost & Expenses	$4.1B
OPERATING INCOME	$3.3B
Interest Income	$4.4B
Interest Expense	$296M
Other Income/Expenses	$0
INCOME BEFORE TAX	$3.3B
Income Tax Expense	$642M
Net Income from Continuing Ops	$2.6B
Net Income from Discontinued Ops	$13M
Other Adjustments	$0
NET INCOME	$2.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.5B
D&A	$32M
EBIT	$3.3B
EBITDA	$3.3B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.6B
Depreciation & Amortization	$32M
Stock-Based Compensation	$104M
Deferred Income Tax	$146M
Other Non-Cash Items	-$1.8B
Change in Working Capital	$34M
OPERATING CASH FLOW	$1.2B
Capital Expenditure	-$66M
Acquisitions (Net)	-$29M
Purchases of Investments	-$28.2B
Sales/Maturities of Investments	$17.1B
Other Investing Activities	-$3.9B
NET CASH FROM INVESTING	-$15.1B
Net Debt Issuance	-$1.6B
Common Stock Repurchased	-$1.1B
Common Dividends Paid	-$823M
Other Financing Activities	$17.3B
NET CASH FROM FINANCING	$13.7B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$178M

Balance Sheet

Item	Amount
Cash & Equivalents	$913M
Short-Term Investments	$56.4B
Net Receivables	$4.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$61.3B
PP&E (Net)	$681M
Goodwill	$2.7B
Intangible Assets	$130M
Long-Term Investments	$108.2B
Tax Assets	$0
Other Non-Current Assets	$13.3B
TOTAL NON-CURRENT ASSETS	$125.0B
TOTAL ASSETS	$186.3B
Account Payables	$0
Short-Term Debt	$761M
Deferred Revenue	$0
Other Current Liabilities	$152.6B
TOTAL CURRENT LIABILITIES	$156.9B
Long-Term Debt	$12.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$12.0B
TOTAL LIABILITIES	$168.9B
Common Stock	$1.3B
Additional Paid-In Capital	$6.3B
Retained Earnings	$14.6B
Treasury Stock	-$6.0B
Accum. Other Comp. Income	-$586M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$17.4B
Minority Interest	$0
TOTAL EQUITY	$17.4B
TOTAL LIABILITIES & EQUITY	$186.3B
Total Debt	$12.8B
Net Debt	$11.9B