KeyCorp (STU:KEY) Cyclically Adjusted PS Ratio: 2.83 (As of Aug. 25, 2026) — Near Median

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STU:KEY KeyCorp STU:KEY
64 GF Score
Price €18.73
GF Value €17.98
Valuation Fairly Valued
! 6 Warning Signs
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What is KeyCorp Cyclically Adjusted PS Ratio?

KeyCorp STU:KEY +0.35% 64 Cyclically Adjusted PS Ratio is 2.83 as of Aug. 25, 2026, which is 1% below its 10-year median of 2.85. GuruFocus rates STU:KEY with a GF Score™ of 64/100 and a GF Value™ of €17.98 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,300 Banks companies, KeyCorp ranks better than 61.46% on this metric.

As of today (2026-08-25), KeyCorp's current share price is €18.73. KeyCorp's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €6.62. KeyCorp's Cyclically Adjusted PS Ratio for today is 2.83.

The historical rank and industry rank for KeyCorp's Cyclically Adjusted PS Ratio or its related term are showing as below:

STU:KEY' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.3   Med: 2.85   Max: 4.41
Current: 2.89

During the past years, KeyCorp's highest Cyclically Adjusted PS Ratio was 4.41. The lowest was 1.30. And the median was 2.85.

STU:KEY's Cyclically Adjusted PS Ratio is ranked better than
61.46% of 1300 companies
in the Banks industry
Industry Median: 3.415 vs STU:KEY: 2.89

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

KeyCorp's adjusted revenue per share data for the three months ended in Jun. 2026 was €1.535. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €6.62 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


KeyCorp  (STU:KEY) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


KeyCorp Cyclically Adjusted PS Ratio Related Terms


KeyCorp Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for KeyCorp's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

KeyCorp Cyclically Adjusted PS Ratio Chart

KeyCorp Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.78 2.59 2.04 2.40 2.81

KeyCorp Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.39 2.54 2.81 2.68 3.04

STU:KEY vs FCNCA, RF, CFG: Cyclically Adjusted PS Ratio Comparison

For the Banks - Regional subindustry, KeyCorp's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


KeyCorp Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, KeyCorp's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where KeyCorp's Cyclically Adjusted PS Ratio falls into.


STU:KEY
64GF Score
KeyCorp STU:KEY
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

KeyCorp Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

KeyCorp's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=18.73/6.62
=2.83

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

KeyCorp's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, KeyCorp's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.535/333.9520*333.9520
=1.535

Current CPI (Jun. 2026) = 333.9520.

KeyCorp Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.122 241.428 1.552
201612 1.292 241.432 1.787
201703 1.247 243.801 1.708
201706 1.287 244.955 1.755
201709 1.149 246.819 1.555
201712 1.207 246.524 1.635
201803 1.138 249.554 1.523
201806 1.218 251.989 1.614
201809 1.267 252.439 1.676
201812 1.362 251.233 1.810
201903 1.278 254.202 1.679
201906 1.368 256.143 1.784
201909 1.436 256.759 1.868
201912 1.439 256.974 1.870
202003 1.311 258.115 1.696
202006 1.517 257.797 1.965
202009 1.423 260.280 1.826
202012 1.501 260.474 1.924
202103 1.460 264.877 1.841
202106 1.473 271.696 1.811
202109 1.568 274.310 1.909
202112 1.771 278.802 2.121
202203 1.592 287.504 1.849
202206 1.759 296.311 1.982
202209 1.984 296.808 2.232
202212 1.844 296.797 2.075
202303 1.662 301.836 1.839
202306 1.534 305.109 1.679
202309 1.529 307.789 1.659
202312 1.459 306.746 1.588
202403 1.454 312.332 1.555
202406 1.462 314.175 1.554
202409 0.610 315.301 0.646
202412 0.770 315.605 0.815
202503 1.442 319.799 1.506
202506 1.396 322.561 1.445
202509 1.413 324.800 1.453
202512 1.494 324.054 1.540
202603 1.509 330.213 1.526
202606 1.535 333.952 1.535

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 2.83 mean?
KeyCorp (STU:KEY) has a Cyclically Adjusted PS Ratio of 2.83 as of Aug. 25, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on KeyCorp and its competitors. This is near median its historical median of 2.85. Over the past decade, KeyCorp's Cyclically Adjusted PS Ratio has ranged from 1.30 to 4.41. According to the industry distribution chart, KeyCorp ranks #501 out of 1300 companies in the Banks industry, placing it in the top 38.5%.
Is KeyCorp's Cyclically Adjusted PS Ratio too high?
KeyCorp's current Cyclically Adjusted PS Ratio of 2.83 is near median its 10-year median of 2.85. Over the past 10 years, this metric has ranged from a low of 1.30 to a high of 4.41. The Banks industry median Cyclically Adjusted PS Ratio is 3.42. KeyCorp's value of 2.83 is 17.1% below this industry median. Based on the distribution chart, KeyCorp ranks #501 out of 1300 companies in the Banks industry, which is above the industry midpoint. Overall, KeyCorp has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does KeyCorp's Cyclically Adjusted PS Ratio compare to FCNCA and RF?
According to the Banks industry distribution chart, KeyCorp ranks #501 out of 1300 companies for Cyclically Adjusted PS Ratio. This puts KeyCorp in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.42. KeyCorp's value of 2.83 is 17.1% below this benchmark. Historically, KeyCorp's own Cyclically Adjusted PS Ratio has ranged from 1.30 to 4.41 over the past decade. While the company's 10-year median is 2.85 vs. the industry median of 3.42, KeyCorp has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Banks company?
The median Cyclically Adjusted PS Ratio among Banks companies is 3.42, based on 1,300 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. KeyCorp's current Cyclically Adjusted PS Ratio of 2.83 is 17.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on KeyCorp and its competitors. For the Banks industry, the median Cyclically Adjusted PS Ratio is 3.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KeyCorp's current Cyclically Adjusted PS Ratio is 2.83, which is near median its own 10-year median of 2.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KeyCorp stock overvalued right now?
Based on GuruFocus' analysis, KeyCorp (STU:KEY) is currently considered Fairly Valued. The stock's GF Value™ is €17.98, compared to a current price of €18.73 — trading 4.2% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.83, which is near median its 10-year median of 2.85 and 17.1% below the Banks industry median of 3.42. KeyCorp's overall GF Score™ is 64/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For KeyCorp (STU:KEY), the current Cyclically Adjusted PS Ratio is 2.83 as of Aug. 25, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is KeyCorp (STU:KEY) Overvalued in 2026?

Based on GuruFocus' analysis, KeyCorp stock appears to be overvalued. The current stock price of €18.73 is trading 4.2% above its estimated GF Value™ of €17.98. GuruFocus considers KeyCorp to be Fairly Valued.

Key valuation signals for STU:KEY:

  • Cyclically Adjusted PS Ratio: 2.83 (near median its 10-year median of 2.85)
  • GF Value™: €17.98 vs. price of €18.73 (4.2% above fair value)
  • GF Score™: 64/100 with 6 warning signs
  • Industry Position: 17.1% below the Banks median (#501 of 1300)

No single metric tells the full story. See the STU:KEY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


KeyCorp Business Description

Address 127 Public Square, Cleveland, OH, USA, 44114-1306
With assets of around $190 billion, Ohio-based KeyCorp's bank footprint spans 16 states, but it is predominantly concentrated in its three largest markets: Ohio, New York, and Washington. KeyCorp is primarily focused on serving middle-market commercial clients through a hybrid community/corporate bank model.
64GF Score

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Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€18.73
Price
€17.98
GF Value