NYSE : KD
Kyndryl Holdings, Inc. — Financial statements
Technology · Information Technology Services · United States
Last price 13.94 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.04B
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Financial statements
Kyndryl Holdings, Inc. (KD) reported revenue of 14.97B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 14.97B | 15.09B | 15.06B | 16.05B | 17.03B | 18.32B |
| Cost of Revenue | 11.70B | 11.80B | 11.87B | 13.17B | 14.43B | 16.06B |
| Gross Profit | 3.27B | 3.29B | 3.19B | 2.89B | 2.60B | 2.26B |
| Selling, General & Admin | 2.70B | 2.68B | 2.61B | 2.77B | 2.94B | 2.80B |
| Operating Expenses | 2.70B | 2.68B | 2.61B | 2.77B | 2.94B | 2.80B |
| Operating Income | 569.00M | 613.00M | 582.00M | 116.00M | -346.00M | -539.00M |
| Interest Expense | -104.00M | -89.00M | -100.00M | -122.00M | -94.00M | -71.00M |
| Currency Exchange Gain (Loss) | -40.00M | 5.00M | -15.00M | -48.00M | 20.00M | 3.00M |
| Other Non Operating Income (Expenses) | 55.00M | -15.00M | 6.00M | 17.00M | -15.00M | -425.00M |
| EBT Excluding Unusual Items | 480.00M | 514.00M | 473.00M | -37.00M | -435.00M | -1.03B |
| Merger & Restructuring Charges | -187.00M | -60.00M | -162.00M | -177.00M | -151.00M | |
| Impairment of Goodwill | -469.00M | |||||
| Gain (Loss) on Sale of Assets | 2.00M | 145.00M | ||||
| Other Unusual Items | -43.00M | -41.00M | -20.00M | 46.00M | -264.00M | -187.00M |
| Pretax Income | 252.00M | 413.00M | 436.00M | -168.00M | -850.00M | -1.69B |
| Income Tax Expense | 165.00M | 215.00M | 184.00M | 172.00M | 524.00M | 351.00M |
| Net Income | 87.00M | 198.00M | 252.00M | -340.00M | -1.37B | -2.04B |
| Net Income to Common | 87.00M | 198.00M | 252.00M | -340.00M | -1.37B | -2.04B |
| Shares Outstanding (Basic) | 225.90M | 228.30M | 231.50M | 229.20M | 226.70M | 224.20M |
| Shares Outstanding (Diluted) | 229.18M | 233.80M | 239.10M | 229.20M | 226.70M | 224.20M |
| EPS (Basic) | 0.39 | 0.87 | 1.09 | -1.48 | -6.06 | -9.09 |
| EPS (Diluted) | 0.39 | 0.85 | 1.05 | -1.48 | -6.06 | -9.10 |
| Free Cash Flow | 148.00M | 340.00M | 337.00M | -197.00M | -84.00M | -354.00M |
| Free Cash Flow Per Share | 0.65 | 1.45 | 1.41 | -0.86 | -0.37 | -1.58 |
| Gross Margin | 21.84% | 21.79% | 21.17% | 17.98% | 15.27% | 12.34% |
| Operating Margin | 3.80% | 4.06% | 3.86% | 0.72% | -2.03% | -2.94% |
| Profit Margin | 0.58% | 1.31% | 1.67% | -2.12% | -8.07% | -11.13% |
| Free Cash Flow Margin | 0.99% | 2.25% | 2.24% | -1.23% | -0.49% | -1.93% |
| EBITDA | 1.31B | 1.36B | 1.21B | 947.00M | 593.00M | 704.00M |
| EBITDA Margin | 8.75% | 9.04% | 8.03% | 5.90% | 3.48% | 3.84% |
| D&A For EBITDA | 741.00M | 751.00M | 627.00M | 831.00M | 939.00M | 1.24B |
| EBIT | 569.00M | 613.00M | 582.00M | 116.00M | -346.00M | -539.00M |
| EBIT Margin | 3.80% | 4.06% | 3.86% | 0.72% | -2.03% | -2.94% |
| Effective Tax Rate | 65.48% | 52.06% | 42.20% | |||
| Advertising Expenses | 69.00M | 83.00M | 115.00M | 136.00M |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.10B | 2.62B | 1.79B | 1.55B | 1.85B | 2.13B |
| Cash & Short-Term Investments | 2.10B | 2.62B | 1.79B | 1.55B | 1.85B | 2.13B |
| Receivables | 1.30B | 1.37B | 1.40B | 1.63B | 1.55B | 2.31B |
| Prepaid Expenses | 507.00M | 367.00M | 396.00M | 484.00M | 465.00M | 475.00M |
| Restricted Cash | 6.00M | 3.00M | 3.00M | 1.00M | 12.00M | 20.00M |
| Other Current Assets | 1.15B | 1.17B | 1.01B | 1.08B | 1.09B | 1.15B |
| Total Current Assets | 5.07B | 5.53B | 4.59B | 4.75B | 4.96B | 6.09B |
| Property, Plant & Equipment | 3.34B | 3.37B | 3.30B | 3.54B | 3.74B | 4.15B |
| Goodwill | 784.00M | 786.00M | 790.00M | 805.00M | 812.00M | 823.00M |
| Other Intangible Assets | 161.00M | 165.00M | 218.00M | 188.00M | 171.00M | 145.00M |
| Long-Term Accounts Receivable | 42.00M | 177.00M | ||||
| Long-Term Deferred Tax Assets | 248.00M | 240.00M | 204.00M | 220.00M | 248.00M | 555.00M |
| Long-Term Deferred Charges | 1.82B | 1.88B | 1.04B | 920.00M | 1.17B | 1.24B |
| Other Long-Term Assets | 564.00M | 405.00M | 310.00M | 172.00M | 361.00M | 437.00M |
| Total Assets | 12.03B | 12.55B | 10.45B | 10.59B | 11.46B | 13.44B |
| Accounts Payable | 1.05B | 1.35B | 1.35B | 1.41B | 1.77B | 1.55B |
| Accrued Expenses | 1.67B | 1.64B | 1.36B | 1.46B | 1.50B | 1.48B |
| Short-Term Debt | 1.00B | 1.00B | ||||
| Current Portion of Long-Term Debt | 703.00M | 710.00M | 29.00M | 31.00M | 28.00M | 96.00M |
| Current Portion of Leases | 342.00M | 351.00M | 374.00M | 380.00M | 398.00M | 374.00M |
| Current Unearned Revenue | 876.00M | 888.00M | 746.00M | 825.00M | 820.00M | 882.00M |
| Other Current Liabilities | 340.00M | 368.00M | 438.00M | 488.00M | 344.00M | 676.00M |
| Total Current Liabilities | 5.98B | 6.31B | 4.30B | 4.59B | 4.87B | 5.06B |
| Long-Term Debt | 2.18B | 2.19B | 2.89B | 2.92B | 2.95B | 2.91B |
| Long-Term Leases | 703.00M | 710.00M | 661.00M | 815.00M | 867.00M | 1.15B |
| Long-Term Unearned Revenue | 378.00M | 390.00M | 341.00M | 314.00M | 362.00M | 452.00M |
| Pension & Post-Retirement Benefits | 489.00M | 490.00M | 483.00M | 500.00M | 504.00M | 716.00M |
| Long-Term Deferred Tax Liabilities | 83.00M | 51.00M | 55.00M | 98.00M | 86.00M | |
| Other Long-Term Liabilities | 1.13B | 1.09B | 392.00M | 276.00M | 352.00M | 363.00M |
| Total Liabilities | 10.86B | 11.26B | 9.12B | 9.47B | 10.00B | 10.73B |
| Common Stock | 4.72B | 4.70B | 4.63B | 4.52B | 4.43B | 4.32B |
| Retained Earnings | -1.92B | -1.87B | -2.07B | -2.32B | -1.98B | -605.00M |
| Treasury Stock | -659.00M | -582.00M | -184.00M | -45.00M | -23.00M | -4.00M |
| Comprehensive Income & Other | -1.07B | -1.07B | -1.16B | -1.15B | -1.06B | -1.09B |
| Total Common Equity | 1.07B | 1.18B | 1.22B | 1.01B | 1.36B | 2.62B |
| Minority Interest | 97.00M | 117.00M | 113.00M | 107.00M | 97.00M | 94.00M |
| Shareholders' Equity | 1.17B | 1.29B | 1.33B | 1.12B | 1.46B | 2.71B |
| Total Liabilities & Equity | 12.03B | 12.55B | 10.45B | 10.59B | 11.46B | 13.44B |
| Total Debt | 4.93B | 4.96B | 3.96B | 4.14B | 4.24B | 4.53B |
| Net Cash (Debt) | -2.83B | -2.33B | -2.17B | -2.59B | -2.40B | -2.39B |
| Net Cash Per Share | -12.33 | -9.98 | -9.08 | -11.31 | -10.57 | -10.66 |
| Filing Date Shares Outstanding | 217.82M | 219.92M | 229.94M | 230.51M | 227.84M | 224.20M |
| Total Common Shares Outstanding | 219.40M | 222.70M | 230.60M | 230.40M | 227.70M | 224.20M |
| Working Capital | -911.00M | -779.00M | 289.00M | 158.00M | 95.00M | 1.03B |
| Book Value Per Share | 4.88 | 5.28 | 5.29 | 4.41 | 5.99 | 11.68 |
| Tangible Book Value | 125.00M | 224.00M | 211.00M | 22.00M | 382.00M | 1.65B |
| Tangible Book Value Per Share | 0.57 | 1.01 | 0.92 | 0.10 | 1.68 | 7.36 |
| Land | 70.00M | 68.00M | 70.00M | 70.00M | 71.00M | |
| Buildings | 2.31B | 2.40B | 2.50B | 2.67B | 2.86B | |
| Machinery | 5.74B | 6.13B | 6.73B | 7.28B | 8.05B |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 87.00M | 198.00M | 252.00M | -340.00M | -1.37B | -2.04B |
| Depreciation & Amortization | 1.02B | 1.04B | 954.00M | 1.15B | 1.37B | 1.57B |
| Other Amortization | 1.74B | 1.73B | 1.74B | 1.82B | 1.67B | 1.81B |
| Loss (Gain) From Sale of Assets | 121.00M | 115.00M | -152.00M | 43.00M | 6.00M | 24.00M |
| Asset Writedown & Restructuring Costs | 8.00M | 8.00M | 21.00M | 7.00M | 469.00M | |
| Stock-Based Compensation | 61.00M | 64.00M | 100.00M | 95.00M | 113.00M | 87.00M |
| Other Operating Activities | -63.00M | -24.00M | 1.00M | -13.00M | 282.00M | -432.00M |
| Change in Accounts Receivable | -12.00M | 84.00M | 284.00M | -105.00M | 664.00M | -969.00M |
| Change in Accounts Payable | -144.00M | -93.00M | -89.00M | -305.00M | 282.00M | 608.00M |
| Change in Income Taxes | 48.00M | 107.00M | -1.00M | -2.00M | 90.00M | 854.00M |
| Change in Other Net Operating Assets | -2.11B | -2.28B | -2.17B | -1.89B | -2.33B | -1.59B |
| Operating Cash Flow | 762.00M | 948.00M | 942.00M | 454.00M | 781.00M | 398.00M |
| Capital Expenditures | -614.00M | -608.00M | -605.00M | -651.00M | -865.00M | -752.00M |
| Sale of Property, Plant & Equipment | 78.00M | 65.00M | 83.00M | 138.00M | 23.00M | 109.00M |
| Divestitures | 31.00M | 1.00M | 139.00M | |||
| Other Investing Activities | -31.00M | -19.00M | -21.00M | -40.00M | 7.00M | -54.00M |
| Investing Cash Flow | -536.00M | -561.00M | -404.00M | -553.00M | -835.00M | -697.00M |
| Short-Term Debt Issued | 1.00B | |||||
| Long-Term Debt Issued | 494.00M | |||||
| Total Debt Issued | 1.00B | 1.00B | 494.00M | 3.04B | ||
| Long-Term Debt Repaid | -146.00M | -148.00M | -644.00M | -118.00M | ||
| Total Debt Repaid | -162.00M | -146.00M | -148.00M | -644.00M | -118.00M | -99.00M |
| Net Debt Issued (Repaid) | 838.00M | 854.00M | -148.00M | -150.00M | -118.00M | 2.94B |
| Repurchase of Common Stock | -346.00M | -398.00M | -138.00M | -22.00M | -19.00M | -4.00M |
| Other Financing Activities | -17.00M | 1.00M | 2.00M | -4.00M | -503.00M | |
| Financing Cash Flow | 475.00M | 457.00M | -286.00M | -170.00M | -141.00M | 2.43B |
| Foreign Exchange Rate Adjustments | -59.00M | -9.00M | -16.00M | -37.00M | -100.00M | -26.00M |
| Miscellaneous Cash Flow Adjustments | 3.00M | 2.00M | -1.00M | 1.00M | ||
| Net Cash Flow | 645.00M | 837.00M | 235.00M | -306.00M | -294.00M | 2.10B |
| Free Cash Flow | 148.00M | 340.00M | 337.00M | -197.00M | -84.00M | -354.00M |
| Free Cash Flow Margin | 0.99% | 2.25% | 2.24% | -1.23% | -0.49% | -1.93% |
| Free Cash Flow Per Share | 0.65 | 1.45 | 1.41 | -0.86 | -0.37 | -1.58 |
| Levered Free Cash Flow | 2.65B | 2.80B | 2.60B | 2.07B | 2.71B | |
| Unlevered Free Cash Flow | 2.72B | 2.85B | 2.66B | 2.14B | 2.77B | |
| Cash Interest Paid | 126.00M | 115.00M | 119.00M | 118.00M | 98.00M | 5.00M |
| Cash Income Tax Paid | 160.00M | 151.00M | 149.00M | 191.00M | 167.00M | 59.00M |
| Change in Working Capital | -2.22B | -2.18B | -1.97B | -2.30B | -1.29B | -1.10B |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.01B | 2.96B | 7.31B | 5.01B | 3.36B | 2.95B |
| Enterprise Value | 5.84B | 5.70B | 9.87B | 7.64B | 5.77B | 5.33B |
| Last Close Price | 13.83 | 13.12 | 31.40 | 21.76 | 14.76 | 13.12 |
| PE Ratio | 35.91 | 14.94 | 28.99 | |||
| Forward PE | 5.59 | 6.32 | 15.79 | 24.23 | ||
| PS Ratio | 0.20 | 0.20 | 0.48 | 0.31 | 0.20 | 0.16 |
| PB Ratio | 2.84 | 2.29 | 5.49 | 4.46 | 2.30 | 1.09 |
| P/TBV Ratio | 24.10 | 13.21 | 34.63 | 227.59 | 8.79 | 1.78 |
| P/FCF Ratio | 20.35 | 8.70 | 21.68 | |||
| P/OCF Ratio | 3.95 | 3.12 | 7.76 | 11.03 | 4.30 | 7.40 |
| PEG Ratio | 0.39 | |||||
| EV/Sales Ratio | 0.39 | 0.38 | 0.66 | 0.48 | 0.34 | 0.29 |
| EV/EBITDA Ratio | 4.46 | 4.18 | 8.16 | 8.06 | 9.74 | 7.57 |
| EV/EBIT Ratio | 10.26 | 9.30 | 16.95 | 65.84 | ||
| EV/FCF Ratio | 39.45 | 16.76 | 29.28 | |||
| Debt / Equity Ratio | 4.22 | 3.84 | 2.97 | 3.69 | 2.90 | 1.67 |
| Debt / EBITDA Ratio | 2.76 | 2.69 | 2.34 | 2.83 | 3.75 | 6.43 |
| Debt / FCF Ratio | 33.31 | 14.58 | 11.74 | |||
| Net Debt / Equity Ratio | 2.42 | 1.81 | 1.63 | 2.31 | 1.64 | 0.88 |
| Net Debt / EBITDA Ratio | 2.16 | 1.71 | 1.79 | 2.74 | 4.04 | 3.40 |
| Net Debt / FCF Ratio | 19.09 | 6.86 | 6.44 | -13.16 | -28.54 | -6.75 |
| Asset Turnover | 1.27 | 1.31 | 1.43 | 1.46 | 1.37 | |
| Quick Ratio | 0.57 | 0.63 | 0.74 | 0.69 | 0.70 | 0.88 |
| Current Ratio | 0.85 | 0.88 | 1.07 | 1.03 | 1.02 | 1.20 |
| Return on Equity (ROE) | 6.93% | 15.09% | 20.54% | -26.32% | -65.84% | |
| Return on Assets (ROA) | 3.02% | 3.33% | 3.46% | 0.66% | -1.74% | |
| Return on Invested Capital (ROIC) | 5.16% | 8.25% | 9.32% | 3.06% | -7.72% | -10.52% |
| Return on Capital Employed (ROCE) | 9.40% | 9.80% | 9.50% | 1.90% | -5.20% | -6.40% |
| Earnings Yield | 2.78% | 6.69% | 3.45% | -6.79% | -40.92% | -69.21% |
| FCF Yield | 4.91% | 11.49% | 4.61% | -3.93% | -2.50% | -12.02% |
| Buyback Yield / Dilution | 4.48% | 2.22% | -4.32% | -1.10% | -1.11% | -0.04% |