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Side-by-side financial comparison of KeyCorp (KEY) and Western Digital (WDC). Click either name above to swap in a different company.
Western Digital is the larger business by last-quarter revenue ($3.0B vs $2.0B, roughly 1.5× KeyCorp). Western Digital runs the higher net margin — 61.1% vs 25.4%, a 35.6% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 31.5%). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% CAGR vs -6.6%).
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.
Western Digital Corporation, doing business as WD, is an American data storage company headquartered in San Jose, California. Established in 1970, the company is one of the world's largest manufacturers of hard disk drives (HDDs).
KEY vs WDC — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.0B | $3.0B |
| Net Profit | $510.0M | $1.8B |
| Gross Margin | — | 45.7% |
| Operating Margin | 32.3% | 30.1% |
| Net Margin | 25.4% | 61.1% |
| Revenue YoY | 131.8% | 31.5% |
| Net Profit YoY | 309.0% | 254.2% |
| EPS (diluted) | $0.43 | $4.73 |
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 | — | $3.0B | ||
| Q4 25 | $2.0B | $2.8B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.8B | $-1.2B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $865.0M | $4.3B | ||
| Q3 24 | $695.0M | $4.1B | ||
| Q2 24 | $1.5B | $3.8B |
| Q1 26 | — | $1.8B | ||
| Q4 25 | $510.0M | $1.2B | ||
| Q3 25 | $489.0M | — | ||
| Q2 25 | $425.0M | $282.0M | ||
| Q1 25 | $405.0M | $520.0M | ||
| Q4 24 | $-244.0M | $594.0M | ||
| Q3 24 | $-410.0M | $493.0M | ||
| Q2 24 | $274.0M | $39.0M |
| Q1 26 | — | 45.7% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 35.4% | ||
| Q3 24 | — | 37.9% | ||
| Q2 24 | — | 35.9% |
| Q1 26 | — | 30.1% | ||
| Q4 25 | 32.3% | 28.1% | ||
| Q3 25 | 31.8% | — | ||
| Q2 25 | 29.3% | — | ||
| Q1 25 | 29.0% | 33.1% | ||
| Q4 24 | -92.6% | 19.9% | ||
| Q3 24 | -72.8% | 18.1% | ||
| Q2 24 | 22.0% | 5.7% |
| Q1 26 | — | 61.1% | ||
| Q4 25 | 25.4% | 41.9% | ||
| Q3 25 | 25.8% | — | ||
| Q2 25 | 23.1% | -24.4% | ||
| Q1 25 | 22.8% | 22.7% | ||
| Q4 24 | -54.7% | 13.9% | ||
| Q3 24 | -59.0% | 12.0% | ||
| Q2 24 | 18.0% | 1.0% |
| Q1 26 | — | $4.73 | ||
| Q4 25 | $0.43 | $3.07 | ||
| Q3 25 | $0.41 | — | ||
| Q2 25 | $0.35 | $0.72 | ||
| Q1 25 | $0.33 | $1.42 | ||
| Q4 24 | $-0.30 | $1.63 | ||
| Q3 24 | $-0.47 | $1.35 | ||
| Q2 24 | $0.25 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.2B | $2.0B |
| Total DebtLower is stronger | $9.9B | $4.7B |
| Stockholders' EquityBook value | $20.4B | $7.1B |
| Total Assets | $184.4B | $15.6B |
| Debt / EquityLower = less leverage | 0.49× | 0.65× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $2.0B | ||
| Q4 25 | $10.2B | $2.0B | ||
| Q3 25 | $13.3B | — | ||
| Q2 25 | $11.6B | $2.1B | ||
| Q1 25 | $15.3B | $3.5B | ||
| Q4 24 | $17.5B | $2.3B | ||
| Q3 24 | $22.8B | $1.7B | ||
| Q2 24 | $15.5B | $1.9B |
| Q1 26 | — | $4.7B | ||
| Q4 25 | $9.9B | $4.7B | ||
| Q3 25 | $10.9B | — | ||
| Q2 25 | $12.1B | $4.7B | ||
| Q1 25 | $12.4B | $7.3B | ||
| Q4 24 | $12.1B | $7.4B | ||
| Q3 24 | $15.7B | $7.4B | ||
| Q2 24 | $16.9B | $7.4B |
| Q1 26 | — | $7.1B | ||
| Q4 25 | $20.4B | $5.9B | ||
| Q3 25 | $20.1B | — | ||
| Q2 25 | $19.5B | $5.3B | ||
| Q1 25 | $19.0B | $5.2B | ||
| Q4 24 | $18.2B | $12.1B | ||
| Q3 24 | $16.9B | $11.6B | ||
| Q2 24 | $14.8B | $10.8B |
| Q1 26 | — | $15.6B | ||
| Q4 25 | $184.4B | $14.4B | ||
| Q3 25 | $187.4B | — | ||
| Q2 25 | $185.5B | $14.0B | ||
| Q1 25 | $188.7B | $16.4B | ||
| Q4 24 | $187.2B | $25.5B | ||
| Q3 24 | $189.8B | $24.8B | ||
| Q2 24 | $187.4B | $24.2B |
| Q1 26 | — | 0.65× | ||
| Q4 25 | 0.49× | 0.80× | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | 0.62× | 0.89× | ||
| Q1 25 | 0.65× | 1.42× | ||
| Q4 24 | 0.67× | 0.61× | ||
| Q3 24 | 0.93× | 0.64× | ||
| Q2 24 | 1.14× | 0.69× |
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 | $2.2B | — |
| Free Cash FlowOCF − Capex | $2.1B | — |
| FCF MarginFCF / Revenue | 104.8% | — |
| Capex IntensityCapex / Revenue | 5.3% | — |
| Cash ConversionOCF / Net Profit | 4.33× | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.2B | $672.0M | ||
| Q3 25 | $396.0M | — | ||
| Q2 25 | $1.2B | $746.0M | ||
| Q1 25 | $-140.0M | $508.0M | ||
| Q4 24 | $664.0M | $403.0M | ||
| Q3 24 | $-1.2B | $34.0M | ||
| Q2 24 | $-217.0M | $366.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.1B | $599.0M | ||
| Q3 25 | $367.0M | — | ||
| Q2 25 | $1.2B | $675.0M | ||
| Q1 25 | $-150.0M | $379.0M | ||
| Q4 24 | $599.0M | $287.0M | ||
| Q3 24 | $-1.2B | $-62.0M | ||
| Q2 24 | $-230.0M | $250.0M |
| Q1 26 | — | — | ||
| Q4 25 | 104.8% | 21.3% | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 65.8% | -58.5% | ||
| Q1 25 | -8.5% | 16.5% | ||
| Q4 24 | 69.2% | 6.7% | ||
| Q3 24 | -175.8% | -1.5% | ||
| Q2 24 | -15.1% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | 5.3% | 2.6% | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.3% | -6.2% | ||
| Q1 25 | 0.6% | 5.6% | ||
| Q4 24 | 7.5% | 2.7% | ||
| Q3 24 | 2.4% | 2.3% | ||
| Q2 24 | 0.9% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | 4.33× | 0.57× | ||
| Q3 25 | 0.81× | — | ||
| Q2 25 | 2.90× | 2.65× | ||
| Q1 25 | -0.35× | 0.98× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | -0.79× | 9.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KEY
Segment breakdown not available.
WDC
| Cloud | $2.7B | 89% |
| Client Devices | $176.0M | 6% |
| Consumer | $168.0M | 6% |
