KEYERA CORP (KEY.CA) Fundamental Analysis & Valuation

TSX:KEY • CA4932711001

53 CAD
+0.59 (+1.13%)
Last: Mar 9, 2026, 07:00 PM
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This KEY.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Overall KEY gets a fundamental rating of 5 out of 10. We evaluated KEY against 212 industry peers in the Oil, Gas & Consumable Fuels industry. KEY has an average financial health and profitability rating. KEY has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. KEY.CA Profitability Analysis

1.1 Basic Checks

  • In the past year KEY was profitable.
  • KEY had a positive operating cash flow in the past year.
  • KEY had positive earnings in each of the past 5 years.
  • Each year in the past 5 years KEY had a positive operating cash flow.
KEY.CA Yearly Net Income VS EBIT VS OCF VS FCFKEY.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 500M 1B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 3.31%, KEY is in the better half of the industry, outperforming 74.53% of the companies in the same industry.
  • The Return On Equity of KEY (15.64%) is better than 93.40% of its industry peers.
  • KEY has a Return On Invested Capital of 5.81%. This is in the better half of the industry: KEY outperforms 78.30% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for KEY is in line with the industry average of 6.67%.
Industry RankSector Rank
ROA 3.31%
ROE 15.64%
ROIC 5.81%
ROA(3y)4.57%
ROA(5y)4.3%
ROE(3y)16.03%
ROE(5y)14.39%
ROIC(3y)7.76%
ROIC(5y)7.67%
KEY.CA Yearly ROA, ROE, ROICKEY.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • KEY's Profit Margin of 6.31% is in line compared to the rest of the industry. KEY outperforms 59.91% of its industry peers.
  • KEY's Profit Margin has improved in the last couple of years.
  • KEY has a Operating Margin of 11.14%. This is comparable to the rest of the industry: KEY outperforms 59.91% of its industry peers.
  • In the last couple of years the Operating Margin of KEY has declined.
  • With a Gross Margin value of 20.15%, KEY perfoms like the industry average, outperforming 50.47% of the companies in the same industry.
  • In the last couple of years the Gross Margin of KEY has declined.
Industry RankSector Rank
OM 11.14%
PM (TTM) 6.31%
GM 20.15%
OM growth 3Y-0.11%
OM growth 5Y-10.28%
PM growth 3Y10.7%
PM growth 5Y25.11%
GM growth 3Y6.56%
GM growth 5Y-8.38%
KEY.CA Yearly Profit, Operating, Gross MarginsKEY.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. KEY.CA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), KEY is creating some value.
  • The number of shares outstanding for KEY remains at a similar level compared to 1 year ago.
  • KEY has more shares outstanding than it did 5 years ago.
  • KEY has a worse debt/assets ratio than last year.
KEY.CA Yearly Shares OutstandingKEY.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
KEY.CA Yearly Total Debt VS Total AssetsKEY.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • KEY has an Altman-Z score of 1.73. This is a bad value and indicates that KEY is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of KEY (1.73) is better than 67.45% of its industry peers.
  • KEY has a debt to FCF ratio of 12.80. This is a negative value and a sign of low solvency as KEY would need 12.80 years to pay back of all of its debts.
  • The Debt to FCF ratio of KEY (12.80) is better than 74.06% of its industry peers.
  • A Debt/Equity ratio of 2.18 is on the high side and indicates that KEY has dependencies on debt financing.
  • With a Debt to Equity ratio value of 2.18, KEY is not doing good in the industry: 76.42% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 2.18
Debt/FCF 12.8
Altman-Z 1.73
ROIC/WACC0.87
WACC6.68%
KEY.CA Yearly LT Debt VS Equity VS FCFKEY.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B 6B

2.3 Liquidity

  • KEY has a Current Ratio of 1.76. This is a normal value and indicates that KEY is financially healthy and should not expect problems in meeting its short term obligations.
  • KEY has a better Current ratio (1.76) than 76.42% of its industry peers.
  • A Quick Ratio of 1.69 indicates that KEY should not have too much problems paying its short term obligations.
  • KEY has a Quick ratio of 1.69. This is in the better half of the industry: KEY outperforms 77.36% of its industry peers.
Industry RankSector Rank
Current Ratio 1.76
Quick Ratio 1.69
KEY.CA Yearly Current Assets VS Current LiabilitesKEY.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B 5B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. KEY.CA Growth Analysis

3.1 Past

  • KEY shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.35%.
  • KEY shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 47.27% yearly.
  • KEY shows a decrease in Revenue. In the last year, the revenue decreased by -3.98%.
  • The Revenue has been growing by 17.87% on average over the past years. This is quite good.
EPS 1Y (TTM)-9.35%
EPS 3Y9.44%
EPS 5Y47.27%
EPS Q2Q%15.38%
Revenue 1Y (TTM)-3.98%
Revenue growth 3Y-0.98%
Revenue growth 5Y17.87%
Sales Q2Q%-12.42%

3.2 Future

  • The Earnings Per Share is expected to grow by 18.27% on average over the next years. This is quite good.
  • Based on estimates for the next years, KEY will show a quite strong growth in Revenue. The Revenue will grow by 11.68% on average per year.
EPS Next Y16.9%
EPS Next 2Y26.53%
EPS Next 3Y19.59%
EPS Next 5Y18.27%
Revenue Next Year30.24%
Revenue Next 2Y14.65%
Revenue Next 3Y14.72%
Revenue Next 5Y11.68%

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
KEY.CA Yearly Revenue VS EstimatesKEY.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B 10B
KEY.CA Yearly EPS VS EstimatesKEY.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4

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4

4. KEY.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • KEY is valuated quite expensively with a Price/Earnings ratio of 27.32.
  • KEY's Price/Earnings ratio is a bit cheaper when compared to the industry. KEY is cheaper than 61.32% of the companies in the same industry.
  • KEY's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.45.
  • The Price/Forward Earnings ratio is 23.37, which indicates a rather expensive current valuation of KEY.
  • Based on the Price/Forward Earnings ratio, KEY is valued a bit cheaper than 65.09% of the companies in the same industry.
  • KEY is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 24.65, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 27.32
Fwd PE 23.37
KEY.CA Price Earnings VS Forward Price EarningsKEY.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • KEY's Enterprise Value to EBITDA is on the same level as the industry average.
  • 64.62% of the companies in the same industry are more expensive than KEY, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 30.39
EV/EBITDA 16.61
KEY.CA Per share dataKEY.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

  • KEY's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • KEY has a very decent profitability rating, which may justify a higher PE ratio.
  • KEY's earnings are expected to grow with 19.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.62
PEG (5Y)0.58
EPS Next 2Y26.53%
EPS Next 3Y19.59%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. KEY.CA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 4.07%, KEY is a good candidate for dividend investing.
  • KEY's Dividend Yield is a higher than the industry average which is at 4.17.
  • KEY's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.07%

5.2 History

  • The dividend of KEY has a limited annual growth rate of 1.92%.
  • KEY has paid a dividend for at least 10 years, which is a reliable track record.
  • KEY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)1.92%
Div Incr Years2
Div Non Decr Years3
KEY.CA Yearly Dividends per shareKEY.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • 112.40% of the earnings are spent on dividend by KEY. This is not a sustainable payout ratio.
  • The dividend of KEY is growing, but earnings are growing more, so the dividend growth is sustainable.
DP112.4%
EPS Next 2Y26.53%
EPS Next 3Y19.59%
KEY.CA Yearly Income VS Free CF VS DividendKEY.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M 600M 800M 1B
KEY.CA Dividend Payout.KEY.CA Dividend Payout, showing the Payout Ratio.KEY.CA Dividend Payout.PayoutRetained Earnings

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KEY.CA Fundamentals: All Metrics, Ratios and Statistics

KEYERA CORP

TSX:KEY (3/9/2026, 7:00:00 PM)

53

+0.59 (+1.13%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-11
Earnings (Next)05-13
Inst Owners49.96%
Inst Owner ChangeN/A
Ins Owners0.42%
Ins Owner ChangeN/A
Market Cap14.95B
Revenue(TTM)6.85B
Net Income(TTM)432.33M
Analysts77.5
Price Target54.77 (3.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.07%
Yearly Dividend2.12
Dividend Growth(5Y)1.92%
DP112.4%
Div Incr Years2
Div Non Decr Years3
Ex-Date03-16
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-10.03%
Min EPS beat(2)-31.68%
Max EPS beat(2)11.61%
EPS beat(4)3
Avg EPS beat(4)6.59%
Min EPS beat(4)-31.68%
Max EPS beat(4)37.63%
EPS beat(8)4
Avg EPS beat(8)-3.22%
EPS beat(12)6
Avg EPS beat(12)-4.59%
EPS beat(16)9
Avg EPS beat(16)-10.46%
Revenue beat(2)0
Avg Revenue beat(2)-12.91%
Min Revenue beat(2)-15.34%
Max Revenue beat(2)-10.47%
Revenue beat(4)0
Avg Revenue beat(4)-7.94%
Min Revenue beat(4)-15.34%
Max Revenue beat(4)-2.15%
Revenue beat(8)2
Avg Revenue beat(8)-6.01%
Revenue beat(12)3
Avg Revenue beat(12)-3.29%
Revenue beat(16)7
Avg Revenue beat(16)6.72%
PT rev (1m)4.18%
PT rev (3m)3.87%
EPS NQ rev (1m)-15.89%
EPS NQ rev (3m)-49.45%
EPS NY rev (1m)-16.79%
EPS NY rev (3m)-18.25%
Revenue NQ rev (1m)-19.47%
Revenue NQ rev (3m)-35.99%
Revenue NY rev (1m)-4.95%
Revenue NY rev (3m)-4.95%
Valuation
Industry RankSector Rank
PE 27.32
Fwd PE 23.37
P/S 2.18
P/FCF 30.39
P/OCF 19.31
P/B 5.41
P/tB 5.55
EV/EBITDA 16.61
EPS(TTM)1.94
EY3.66%
EPS(NY)2.27
Fwd EY4.28%
FCF(TTM)1.74
FCFY3.29%
OCF(TTM)2.75
OCFY5.18%
SpS24.29
BVpS9.8
TBVpS9.56
PEG (NY)1.62
PEG (5Y)0.58
Graham Number20.68
Profitability
Industry RankSector Rank
ROA 3.31%
ROE 15.64%
ROCE 7.61%
ROIC 5.81%
ROICexc 7.56%
ROICexgc 7.63%
OM 11.14%
PM (TTM) 6.31%
GM 20.15%
FCFM 7.18%
ROA(3y)4.57%
ROA(5y)4.3%
ROE(3y)16.03%
ROE(5y)14.39%
ROIC(3y)7.76%
ROIC(5y)7.67%
ROICexc(3y)8.4%
ROICexc(5y)8.05%
ROICexgc(3y)8.48%
ROICexgc(5y)8.14%
ROCE(3y)10.17%
ROCE(5y)10.05%
ROICexgc growth 3Y-1.78%
ROICexgc growth 5Y3.73%
ROICexc growth 3Y-1.67%
ROICexc growth 5Y3.92%
OM growth 3Y-0.11%
OM growth 5Y-10.28%
PM growth 3Y10.7%
PM growth 5Y25.11%
GM growth 3Y6.56%
GM growth 5Y-8.38%
F-Score5
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 2.18
Debt/FCF 12.8
Debt/EBITDA 5.29
Cap/Depr 75.35%
Cap/Sales 4.12%
Interest Coverage 4.27
Cash Conversion 68.02%
Profit Quality 113.8%
Current Ratio 1.76
Quick Ratio 1.69
Altman-Z 1.73
F-Score5
WACC6.68%
ROIC/WACC0.87
Cap/Depr(3y)83.73%
Cap/Depr(5y)158.86%
Cap/Sales(3y)4.14%
Cap/Sales(5y)7.05%
Profit Quality(3y)157.61%
Profit Quality(5y)101.19%
High Growth Momentum
Growth
EPS 1Y (TTM)-9.35%
EPS 3Y9.44%
EPS 5Y47.27%
EPS Q2Q%15.38%
EPS Next Y16.9%
EPS Next 2Y26.53%
EPS Next 3Y19.59%
EPS Next 5Y18.27%
Revenue 1Y (TTM)-3.98%
Revenue growth 3Y-0.98%
Revenue growth 5Y17.87%
Sales Q2Q%-12.42%
Revenue Next Year30.24%
Revenue Next 2Y14.65%
Revenue Next 3Y14.72%
Revenue Next 5Y11.68%
EBIT growth 1Y-9.04%
EBIT growth 3Y-1.09%
EBIT growth 5Y5.75%
EBIT Next Year122.42%
EBIT Next 3Y39.97%
EBIT Next 5Y24.76%
FCF growth 1Y-51.45%
FCF growth 3Y155.79%
FCF growth 5Y75.33%
OCF growth 1Y-38.81%
OCF growth 3Y-5.76%
OCF growth 5Y2.39%

KEYERA CORP / KEY.CA FAQ

Can you provide the ChartMill fundamental rating for KEYERA CORP?

ChartMill assigns a fundamental rating of 5 / 10 to KEY.CA.


What is the valuation status of KEYERA CORP (KEY.CA) stock?

ChartMill assigns a valuation rating of 4 / 10 to KEYERA CORP (KEY.CA). This can be considered as Fairly Valued.


What is the profitability of KEY stock?

KEYERA CORP (KEY.CA) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for KEY stock?

The Price/Earnings (PE) ratio for KEYERA CORP (KEY.CA) is 27.32 and the Price/Book (PB) ratio is 5.41.


What is the expected EPS growth for KEYERA CORP (KEY.CA) stock?

The Earnings per Share (EPS) of KEYERA CORP (KEY.CA) is expected to grow by 16.9% in the next year.