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First Horizon vs Keycorp: revenue, profit, margins and growth compared

First Horizon brought in $3.4B of revenue in fiscal 2025, Keycorp $7.5B in fiscal 2025. Revenue changed by +7.2% at First Horizon and +62.7% at Keycorp on the year before, so Keycorp grew faster. First Horizon kept 28.7% of its revenue as net profit, Keycorp 24.3%. Free cash flow was $595M at First Horizon and $2.1B at Keycorp.

Side by side, latest fiscal year

FHNKEY
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$3.4B$7.5B
Revenue growth+7.2%+62.7%
Net income$982M$1.8B
Net margin28.7%24.3%
Free cash flow$595M$2.1B
Free cash flow margin17.4%28.0%
Earnings per share (diluted)$1.87$1.52
Cash$1.6B$1.3B
Debtn/a$9.9B
Price to earnings12.613.6
Market value$11.1B$22B
Dividend yield2.56%3.98%
Rank by revenue in sector#114 of 444 · Finance#72 of 444 · Finance

Over the years

Revenue
FHN FY2018: $1.9BFHN FY2019: $1.8BFHN FY2022: $3.2BFHN FY2023: $3.5BFHN FY2024: $3.2BFHN FY2025: $3.4BKEY FY2018: $6.5BKEY FY2019: $6.4BKEY FY2020: $6.7BKEY FY2021: $7.3BKEY FY2022: $7.3BKEY FY2023: $6.4BKEY FY2024: $4.6BKEY FY2025: $7.5BFY18FY19FY20FY21FY22FY23FY24FY25
FHN $3.4BKEY $7.5B
Net income
FHN FY2018: $545MFHN FY2019: $441MFHN FY2020: $845MFHN FY2021: $999MFHN FY2022: $900MFHN FY2023: $897MFHN FY2024: $775MFHN FY2025: $982MKEY FY2018: $1.9BKEY FY2019: $1.7BKEY FY2020: $1.3BKEY FY2021: $2.6BKEY FY2022: $1.9BKEY FY2023: $967MKEY FY2024: -$161MKEY FY2025: $1.8BFY18FY19FY20FY21FY22FY23FY24FY25
FHN $982MKEY $1.8B
Net margin
FHN FY2018: 28.1%FHN FY2019: 24.3%FHN FY2022: 28.1%FHN FY2023: 25.9%FHN FY2024: 24.3%FHN FY2025: 28.7%KEY FY2018: 28.9%KEY FY2019: 26.8%KEY FY2020: 20.0%KEY FY2021: 36.0%KEY FY2022: 26.4%KEY FY2023: 15.1%KEY FY2024: -3.5%KEY FY2025: 24.3%FY18FY19FY20FY21FY22FY23FY24FY25
FHN 28.7%KEY 24.3%
Revenue growth
FHN FY2019: -6.1%FHN FY2023: +8.1%FHN FY2024: -8.0%FHN FY2025: +7.2%KEY FY2019: -0.9%KEY FY2020: +4.9%KEY FY2021: +8.6%KEY FY2022: -0.3%KEY FY2023: -11.8%KEY FY2024: -28.0%KEY FY2025: +62.7%FY19FY20FY21FY22FY23FY24FY25
FHN +7.2%KEY +62.7%
Free cash flow
FHN FY2018: $196MFHN FY2019: $781MFHN FY2020: -$207MFHN FY2021: $688MFHN FY2022: $2.3BFHN FY2023: $1.3BFHN FY2024: $1.2BFHN FY2025: $595MKEY FY2018: $2.4BKEY FY2019: $2.8BKEY FY2020: $1.6BKEY FY2021: $1.1BKEY FY2022: $4.4BKEY FY2023: $2.8BKEY FY2024: $599MKEY FY2025: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
FHN $595MKEY $2.1B

Fiscal years as each company reports them; the two may end in different months.

Questions about First Horizon and Keycorp

Which is bigger by revenue, First Horizon or Keycorp?

Keycorp is bigger by revenue: $7.5B in fiscal 2025, against $3.4B for First Horizon in fiscal 2025.

Which keeps more of its revenue as profit, First Horizon or Keycorp?

First Horizon had a net margin of 28.7% in fiscal 2025; Keycorp had 24.3% in fiscal 2025.

Which grew revenue faster, First Horizon or Keycorp?

In their latest fiscal years revenue changed by +7.2% at First Horizon and +62.7% at Keycorp.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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