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Keyera Corp (KEY) Fair Value & Analysis

Energy · CA · Market cap C$13.2B

KC Keyera Corp KEY · TO
PriceC$57.77
Fair ValueC$21.70
Upside-62.4%
Quality95/100
Evidence: High Range C$16.28 – C$33.17

Fair value as of: Jun 24, 2026

From 26 valuation models · updated 5 days ago

Fair value updated Jun 24, 2026 — revised from C$37.96 to C$21.70 (−42.8%) since Jun 23, 2026. Share price +0.4% over the past month.

Price vs Fair Value (12 months)

C$59.45 C$39.83 Fair Value C$21.70 Jun 2025 Jun 2026

12‑month range C$39.83 – C$59.45 · fair‑value band C$16.28 – C$33.17 · the C$57.77 price screens above the C$21.70 fair value. As of Jun 24, 2026.

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Analysis

Keyera Corp (KEY) currently trades at C$57.77, while our model-based Fair Value estimate is C$21.70 — implying the stock looks roughly 62.4% overvalued today. We read business quality at 95/100 (high quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: high).

Over the trailing twelve months, Keyera Corp generated revenue of C$6.4B at a net margin of 2.8%. Revenue declined 26.1% year over year. It earns a return on equity of 6.7%. Net debt stands at C$4.0B. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) C$6.4B
Revenue growth (YoY) -26.1%
Net margin 2.8%
Return on equity 6.7%
Free cash flow C$492M FY2025
P/E ratio 72.8
More key figures
Operating margin -3.0%
EPS (TTM) C$0.7900
Dividend yield 3.7%
EPS growth (YoY) +3.6%
Net debt C$4.0B FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Keyera Corp. together with its subsidiaries, engages in the gathering and processing of natural gas; and the transportation, storage, and marketing of natural gas liquids and iso-octane in Canada and the United States. It operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment owns and operates raw gas gathering pipelines and processing plants, which collects and process raw natural gas, remove waste products, and separate economic components, primarily natural gas liquids; and provides gas handling services and other ancillary services, such as NGL extraction, NGL handling and loading services, and condensate stabilization. The Liquids Infrastructure segment owns and operates a network of facilities, including underground NGL storage caverns, above-ground storage tanks, NGL fractionation facilities, NGL, and condensate pipelines, as well as rail and truck terminals for the processing, fractionation, stor…

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Keyera Corp reported revenue of C$6.9B in FY2025 versus C$5.0B in FY2021, a compound +8.3%/yr. Reported net income was C$432M in FY2025, compounding +7.5%/yr from FY2021.

Revenue +8.3%/yr
FY21 C$5.0B
FY22 C$7.1B
FY23 C$7.1B
FY24 C$7.1B
FY25 C$6.9B
Net income +7.5%/yr
FY21 C$324M
FY22 C$328M
FY23 C$424M
FY24 C$487M
FY25 C$432M

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Similar stocks

6 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Jun 24, 2026).

Stock Price Fair Value vs Fair Value
Enbridge Inc ENB $56.44 $37.24 -34%
The Williams Companies, Inc WMB $74.95 $12.03 -84%
Enterprise Products Partners L.P. EPD $37.13 $24.74 -33%
TC Energy Corporation TRP $68.02 $34.72 -49%
Kinder Morgan, Inc KMI $31.68 $17.10 -46%
Energy Transfer LP, ET $18.89 $13.62 -28%

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Frequently asked questions

Is Keyera Corp (KEY) undervalued?
As of Jun 24, 2026, our model estimates a fair value of C$21.70 versus a price of C$57.77 — about −62% (overvalued). Model-based estimate, not financial advice.
What is the fair value of KEY?
Our 21-model fair value for Keyera Corp is C$21.70 (as of Jun 24, 2026), built from audited fundamentals. The current price is C$57.77.
What is the quality score of KEY?
Keyera Corp has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Keyera Corp (KEY)?
Keyera Corp reported trailing-twelve-month revenue of about C$6.4B (latest available figure, as of Jun 24, 2026).
What is the net profit margin of KEY?
The net profit margin of Keyera Corp is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does Keyera Corp pay a dividend?
Keyera Corp currently shows a dividend yield of about 3.74% relative to its recent price (as of Jun 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.