Keycorp (KEY) FY2019 results: revenue $6.4 billion, down 0.9% on the year
Keycorp (KEY) reported revenue of $6.4 billion for fiscal 2019, the year ended 31 December 2019, down 0.9% on the year before. Net income was $1.7 billion, down 8.0%, and diluted earnings per share $1.62. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2020.
Revenue
$6.4 billion
-0.9% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$1.7 billion
-8.0% on the year
FY2012FY2019
Diluted EPS
$1.62
-5.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,368
6,424
6,255
-0.9%
Interest expense
1,326
969
613
+36.8%
Pre-tax income
2,022
2,203
1,928
-8.2%
Income tax
314
344
637
-8.7%
Effective tax rate
15.5%
15.6%
33.0%
Net income
1,717
1,866
1,296
-8.0%
Net margin
27.0%
29.0%
20.7%
Diluted EPS
$1.62
$1.71
$1.13
-5.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,906
2,506
1,815
+16.0%
Capital expenditure
85.0
99.0
112
-14.1%
Free cash flow
2,821
2,407
1,703
+17.2%
Cash from investing
-4,918
-2,482
-2,239
Cash from financing
2,066
-17.0
418
Depreciation and amortisation
118
131
138
-9.9%
Share-based compensation
96.0
99.0
100
-3.0%
Buybacks
835
1,098
664
-24.0%
Dividends paid
804
656
480
+22.6%
Dividend per share
$0.71
$0.56
$0.38
+25.7%
Diluted shares, weighted
1,002m
1,055m
1,089m
-5.0%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
17,038
15,595
15,023
+9.3%
Non-controlling interest
0.0
1.0
2.0
Deposits
111,870
107,309
105,235
+4.3%
Repurchase agreements
387
319
377
+21.3%
Debt
13,540
14,595
15,344
-7.2%
Other liabilities
2,153
1,794
1,717
+20.0%
Total liabilities and equity
144,988
139,613
137,698
+3.8%
Fixed assets
814
882
930
-7.7%
Goodwill
2,664
2,516
2,538
+5.9%
Intangible assets
253
316
416
-19.9%
Investments
1,272
2,562
4,447
-50.4%
Loans
93,746
88,669
85,528
+5.7%
Securities borrowed
0.0
n/a
n/a
Trading assets
1,040
849
836
+22.5%
Cash and equivalents
732
678
671
+8.0%
Other assets
44,467
43,141
42,332
+3.1%
Total assets
144,988
139,613
137,698
+3.8%
10-K for the year ended 31 December 2019, filed 26 February 2020: the filing.