vs
Side-by-side financial comparison of KeyCorp (KEY) and Frontier Group Holdings, Inc. (ULCC). Click either name above to swap in a different company.
KeyCorp is the larger business by last-quarter revenue ($1.9B vs $997.0M, roughly 2.0× Frontier Group Holdings, Inc.). KeyCorp runs the higher net margin — 26.8% vs 5.3%, a 21.5% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (10.2% vs -0.5%). Over the past eight quarters, KeyCorp's revenue compounded faster (12.9% CAGR vs 7.4%).
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
Frontier Communications Parent, Inc. is an American telecommunications company with a fiber-optic network and cloud-based services owned by Verizon. It was previously known as Citizens Utilities Co., Citizens Communications Co., and Frontier Communications Corp.
KEY vs ULCC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9B | $997.0M |
| Net Profit | $522.0M | $53.0M |
| Gross Margin | — | — |
| Operating Margin | — | 4.9% |
| Net Margin | 26.8% | 5.3% |
| Revenue YoY | 10.2% | -0.5% |
| Net Profit YoY | 28.9% | -1.9% |
| EPS (diluted) | $0.44 | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.0B | $997.0M | ||
| Q3 25 | $1.9B | $886.0M | ||
| Q2 25 | $1.8B | $929.0M | ||
| Q1 25 | $1.8B | $912.0M | ||
| Q4 24 | $865.0M | $1.0B | ||
| Q3 24 | $695.0M | $935.0M | ||
| Q2 24 | $1.5B | $973.0M |
| Q1 26 | $522.0M | — | ||
| Q4 25 | $510.0M | $53.0M | ||
| Q3 25 | $489.0M | $-77.0M | ||
| Q2 25 | $425.0M | $-70.0M | ||
| Q1 25 | $405.0M | $-43.0M | ||
| Q4 24 | $-244.0M | $54.0M | ||
| Q3 24 | $-410.0M | $26.0M | ||
| Q2 24 | $274.0M | $31.0M |
| Q1 26 | — | — | ||
| Q4 25 | 32.3% | 4.9% | ||
| Q3 25 | 31.8% | -8.7% | ||
| Q2 25 | 29.3% | -8.1% | ||
| Q1 25 | 29.0% | -5.0% | ||
| Q4 24 | -92.6% | 4.5% | ||
| Q3 24 | -72.8% | 2.0% | ||
| Q2 24 | 22.0% | 2.6% |
| Q1 26 | 26.8% | — | ||
| Q4 25 | 25.4% | 5.3% | ||
| Q3 25 | 25.8% | -8.7% | ||
| Q2 25 | 23.1% | -7.5% | ||
| Q1 25 | 22.8% | -4.7% | ||
| Q4 24 | -54.7% | 5.4% | ||
| Q3 24 | -59.0% | 2.8% | ||
| Q2 24 | 18.0% | 3.2% |
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.43 | $0.24 | ||
| Q3 25 | $0.41 | $-0.34 | ||
| Q2 25 | $0.35 | $-0.31 | ||
| Q1 25 | $0.33 | $-0.19 | ||
| Q4 24 | $-0.30 | $0.24 | ||
| Q3 24 | $-0.47 | $0.11 | ||
| Q2 24 | $0.25 | $0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.8B | $671.0M |
| Total DebtLower is stronger | $10.9B | $620.0M |
| Stockholders' EquityBook value | $20.0B | $491.0M |
| Total Assets | $188.7B | $7.2B |
| Debt / EquityLower = less leverage | 0.54× | 1.26× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $11.8B | — | ||
| Q4 25 | $10.2B | $671.0M | ||
| Q3 25 | $13.3B | $566.0M | ||
| Q2 25 | $11.6B | $563.0M | ||
| Q1 25 | $15.3B | $686.0M | ||
| Q4 24 | $17.5B | $740.0M | ||
| Q3 24 | $22.8B | $576.0M | ||
| Q2 24 | $15.5B | $658.0M |
| Q1 26 | $10.9B | — | ||
| Q4 25 | $9.9B | $620.0M | ||
| Q3 25 | $10.9B | $673.0M | ||
| Q2 25 | $12.1B | $565.0M | ||
| Q1 25 | $12.4B | $512.0M | ||
| Q4 24 | $12.1B | $507.0M | ||
| Q3 24 | $15.7B | $474.0M | ||
| Q2 24 | $16.9B | $455.0M |
| Q1 26 | $20.0B | — | ||
| Q4 25 | $20.4B | $491.0M | ||
| Q3 25 | $20.1B | $434.0M | ||
| Q2 25 | $19.5B | $506.0M | ||
| Q1 25 | $19.0B | $570.0M | ||
| Q4 24 | $18.2B | $604.0M | ||
| Q3 24 | $16.9B | $549.0M | ||
| Q2 24 | $14.8B | $520.0M |
| Q1 26 | $188.7B | — | ||
| Q4 25 | $184.4B | $7.2B | ||
| Q3 25 | $187.4B | $6.7B | ||
| Q2 25 | $185.5B | $6.5B | ||
| Q1 25 | $188.7B | $6.5B | ||
| Q4 24 | $187.2B | $6.2B | ||
| Q3 24 | $189.8B | $5.8B | ||
| Q2 24 | $187.4B | $5.7B |
| Q1 26 | 0.54× | — | ||
| Q4 25 | 0.49× | 1.26× | ||
| Q3 25 | 0.54× | 1.55× | ||
| Q2 25 | 0.62× | 1.12× | ||
| Q1 25 | 0.65× | 0.90× | ||
| Q4 24 | 0.67× | 0.84× | ||
| Q3 24 | 0.93× | 0.86× | ||
| Q2 24 | 1.14× | 0.88× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-91.0M |
| Free Cash FlowOCF − Capex | — | $-113.0M |
| FCF MarginFCF / Revenue | — | -11.3% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | -1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-600.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $-91.0M | ||
| Q3 25 | $396.0M | $-215.0M | ||
| Q2 25 | $1.2B | $-133.0M | ||
| Q1 25 | $-140.0M | $-86.0M | ||
| Q4 24 | $664.0M | $87.0M | ||
| Q3 24 | $-1.2B | $-156.0M | ||
| Q2 24 | $-217.0M | $9.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $-113.0M | ||
| Q3 25 | $367.0M | $-217.0M | ||
| Q2 25 | $1.2B | $-166.0M | ||
| Q1 25 | $-150.0M | $-104.0M | ||
| Q4 24 | $599.0M | $73.0M | ||
| Q3 24 | $-1.2B | $-170.0M | ||
| Q2 24 | $-230.0M | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | 104.8% | -11.3% | ||
| Q3 25 | 19.4% | -24.5% | ||
| Q2 25 | 65.8% | -17.9% | ||
| Q1 25 | -8.5% | -11.4% | ||
| Q4 24 | 69.2% | 7.3% | ||
| Q3 24 | -175.8% | -18.2% | ||
| Q2 24 | -15.1% | -2.3% |
| Q1 26 | — | — | ||
| Q4 25 | 5.3% | 2.2% | ||
| Q3 25 | 1.5% | 0.2% | ||
| Q2 25 | 1.3% | 3.6% | ||
| Q1 25 | 0.6% | 2.0% | ||
| Q4 24 | 7.5% | 1.4% | ||
| Q3 24 | 2.4% | 1.5% | ||
| Q2 24 | 0.9% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.33× | -1.72× | ||
| Q3 25 | 0.81× | — | ||
| Q2 25 | 2.90× | — | ||
| Q1 25 | -0.35× | — | ||
| Q4 24 | — | 1.61× | ||
| Q3 24 | — | -6.00× | ||
| Q2 24 | -0.79× | 0.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KEY
| Net Interest Income | $1.2B | 63% |
| Noninterest Income | $723.0M | 37% |
ULCC
| Aircraft Fare | $453.0M | 45% |
| Passenger Service Fees | $227.0M | 23% |
| Passenger Baggage | $177.0M | 18% |
| Passenger Seat Selection | $69.0M | 7% |
| Other Passenger Revenue | $36.0M | 4% |
| Other | $35.0M | 4% |
