当前价格
$21.67
内在价值
使用下方计算器估算
对 KeyCorp 运行完整的 DCF 分析，自动填充基本面数据，可调节假设参数，含敏感性热力图。
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses. It also provides a suite of banking and capital market products, such as syndicated finance, debt and equity capital market products, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance, as well as commercial mortgage loans comprising consumer, energy, healthcare, industrial, public sector, real estate, and technology loans for middle market clients. In addition, the company offers community development financing, securities underwriting, brokerage, and investment banking services. As of December 31, 2021, it operated through a network of approximately 999 branches and 1,317 ATMs in 15 states, as well as additional offices, online and mobile banking capabilities, and a telephone banking call center. KeyCorp was founded in 1849 and is headquartered in Cleveland, Ohio.
ROIC (TTM)
4.8%
ROE (TTM)
9.7%
FCF Yield
8.92%
基于过去 12 个月的数据，KEY 每股自由现金流为 N/A，投入资本回报率（ROIC）为 4.8%，这些是使用 DCF 方法进行股票估值的关键输入。P/FCF 比率为 N/A，FCF 收益率为 8.92%，是评估 KEY 相对估值的重要参考指标。
KEY 的内在价值取决于未来增长率、折现率（WACC）和终值假设。DCF 模型将预期自由现金流折现回现值——WACC 的小幅变化可能导致估算偏移 20% 以上，因此敏感性分析至关重要。
KEY 是否被低估取决于 DCF 内在价值与当前市价 $21.67 的比较。正的安全边际（内在价值高于市价）暗示潜在低估，但置信度取决于增长率和折现率假设的可靠性。
对 KeyCorp 进行 DCF 估值的步骤：(1) 以过去 12 个月每股自由现金流为基础，(2) 根据Banks - Regional行业趋势和公司基本面预测未来 5-10 年的 FCF 增长，(3) 选择反映 KEY 风险的折现率（WACC），(4) 加上预测期之后的终值。
DCF（折现现金流）根据公司未来的现金产生能力估算其当前价值。对于 KeyCorp，这意味着预测Banks - Regional在未来 5-10 年能产生多少自由现金流，再折现到今天的价值。KEY 的 ROIC 为 4.8%，表明公司可能面临产生超过资本成本回报的挑战。
WACC（加权平均资本成本）是 DCF 模型中的折现率——反映投资者要求的最低回报。对于 KEY，资本结构和股权风险溢价决定了 WACC。WACC 每提高 1%，内在价值通常下降 10-15%。
