KEY KeyCorp

bank · 2026-10-12

N/A

too hard · 32

Owner-earnings value$18.66

Price$19.97

Margin of safety -6.6%

Quality gate · 32/100

Returns on capital 4.8/30

Consistency 11.5/22

Margins / pricing power 4/16

Balance sheet 6.2/16

Cash conversion 5.0/10

Capital allocation 0/6

⚠ weak through-cycle ROE (8%)

Median ROE7.8%

FCF conversion216%

Share count / yr+5.7%

Profitable years3/4

Moat & management

Owner-earnings inputs

Owner earnings (TTM)	2.03B
Owner-earnings yield	9.5%
Free-cash-flow yield	5.6%
Growth used (normalized)	1.2%
Terminal growth	3.0%
Discount rate (hurdle)	10.1%

⚠ financial — owner earnings ≈ net income · financial — valued by residual income (ROE vs cost of equity on book equity)

Date	Quality	Price	Value	MoS	Rating
2026-10-12	32	$19.97	$18.66	-6.6%	N/A
2026-09-23	32	$20.48	$20.17	-1.5%	N/A
2026-09-04	32	$22.12	$19.49	-11.9%	N/A
2026-08-18	32	$23.04	$19.59	-15.0%	N/A
2026-07-30	32	$22.18	$19.92	-10.2%	N/A
2026-07-13	32	$23.30	$19.94	-14.4%	N/A
2026-07-02	32	$23.25	$19.99	-14.0%	N/A
2026-06-25	39	$23.12	$20.22	-12.6%	N/A
2026-06-23	39	$23.02	$19.94	-13.4%	N/A

Date

Quality

Price

Value

MoS

Rating

2026-10-12

$19.97

$18.66

-6.6%

N/A

2026-09-23

$20.48

$20.17

-1.5%

N/A

2026-09-04

$22.12

$19.49

-11.9%

N/A

2026-08-18

$23.04

$19.59

-15.0%

N/A

2026-07-30

$22.18

$19.92

-10.2%

N/A

2026-07-13

$23.30

$19.94

-14.4%

N/A

2026-07-02

$23.25

$19.99

-14.0%

N/A

2026-06-25

$23.12

$20.22

-12.6%

N/A

2026-06-23

$23.02

$19.94

-13.4%

N/A

Quality gate · 32/100

Moat & management

Owner-earnings inputs

History