KEY FY 2022 Earnings Report — KeyCorp Revenue & Financial Results | Market Cap Arena

FY 2022 Earnings

Reported February 22, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$7.9B	—	$7.3B	—	7.9%
Op. Income	$2.3B	—	$3.3B	—	-28.3%
Gross Margin	82.5%	—	101.7%	—	-19.2pp
Net Margin	24.2%	—	35.8%	—	-11.6pp
EPS (Diluted)	$1.93	—	$2.63	—	-26.6%
Free Cash Flow	$4.4B	—	$1.1B	—	301.2%

Revenue Flow

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$1.4B
GROSS PROFIT	$6.5B
R&D Expenses	$0
Selling & Marketing	$123M
General & Administrative	$2.7B
SG&A Expenses	$2.8B
Other Expenses	$1.4B
Operating Expenses	$4.2B
Cost & Expenses	$5.6B
OPERATING INCOME	$2.3B
Interest Income	$5.4B
Interest Expense	$885M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$422M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$6M
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$164M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$7.9B
Cost of Revenue	$1.4B
GROSS PROFIT	$6.5B
R&D Expenses	$0
Selling & Marketing	$123M
General & Administrative	$2.7B
SG&A Expenses	$2.8B
Other Expenses	$1.4B
Operating Expenses	$4.2B
Cost & Expenses	$5.6B
OPERATING INCOME	$2.3B
Interest Income	$5.4B
Interest Expense	$885M
Other Income/Expenses	$0
INCOME BEFORE TAX	$2.3B
Income Tax Expense	$422M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$6M
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.8B
D&A	$164M
EBIT	$2.3B
EBITDA	$2.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$164M
Stock-Based Compensation	$120M
Deferred Income Tax	-$27M
Other Non-Cash Items	$2.1B
Change in Working Capital	$237M
OPERATING CASH FLOW	$4.5B
Capital Expenditure	-$108M
Acquisitions (Net)	-$58M
Purchases of Investments	-$8.8B
Sales/Maturities of Investments	$15.4B
Other Investing Activities	-$17.4B
NET CASH FROM INVESTING	-$10.9B
Net Debt Issuance	$16.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$854M
Other Financing Activities	-$10.0B
NET CASH FROM FINANCING	$6.4B
FREE CASH FLOW	$4.4B
Net Change in Cash	-$26M

Balance Sheet

Item	Amount
Cash & Equivalents	$887M
Short-Term Investments	$41.5B
Net Receivables	$3.9B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$46.3B
PP&E (Net)	$636M
Goodwill	$2.8B
Intangible Assets	$94M
Long-Term Investments	$125.6B
Tax Assets	$0
Other Non-Current Assets	$14.4B
TOTAL NON-CURRENT ASSETS	$143.5B
TOTAL ASSETS	$189.8B
Account Payables	$0
Short-Term Debt	$9.5B
Deferred Revenue	$0
Other Current Liabilities	$142.6B
TOTAL CURRENT LIABILITIES	$157.1B
Long-Term Debt	$19.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$19.3B
TOTAL LIABILITIES	$176.4B
Common Stock	$1.3B
Additional Paid-In Capital	$6.3B
Retained Earnings	$15.6B
Treasury Stock	-$5.9B
Accum. Other Comp. Income	-$6.3B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.5B
Minority Interest	$0
TOTAL EQUITY	$13.5B
TOTAL LIABILITIES & EQUITY	$189.8B
Total Debt	$28.8B
Net Debt	$27.9B