Stocks KD Financial statements
Financial statementsKyndryl Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Kyndryl Holdings, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2019 | FY2021 | FY2021 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|
| Revenue | 20,279 | 19,352 | 18,657 | 17,026 | 16,052 | 15,057 | 15,092 |
| Cost of revenue | 17,682 | 17,137 | 16,550 | 14,498 | 13,189 | 11,914 | 11,803 |
| Gross profit | 2,597 | 2,215 | 2,107 | 2,528 | 2,863 | 3,143 | 3,289 |
| Research and development | 83 | 76 | 63 | 79 | 58 | 49 | 57 |
| Selling, general and administrative | 2,970 | 2,948 | 2,776 | 2,914 | 2,773 | 2,591 | 2,654 |
| Selling and marketing | 55 | 34 | 56 | 136 | 115 | 83 | 69 |
| Interest expense | 76 | 63 | 64 | 94 | 122 | 100 | 89 |
| Pre-tax income | -579 | -1,760 | -1,903 | -851 | -168 | 435 | 414 |
| Income tax | 364 | 247 | 402 | 524 | 172 | 184 | 215 |
| Net income | -943 | -2,007 | -2,304 | -1,374 | -340 | 252 | 198 |
| EPS, basic | -4.21 | -8.96 | -10.28 | -6.06 | -1.48 | 1.09 | 0.87 |
| EPS, diluted | -4.21 | -8.96 | -10.28 | -6.06 | -1.48 | 1.05 | 0.85 |
| Shares, basic (weighted) | 224 | 224 | 224 | 227 | 229 | 232 | 228 |
| Shares, diluted (weighted) | 224 | 224 | 224 | 227 | 229 | 239 | 234 |
| Dividend per share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance sheet
| FY2019 | FY2021 | FY2021 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | 50 | 24 | 2,223 | 1,847 | 1,553 | 1,786 | 2,623 |
| Receivables | 1,444 | 2,279 | 1,523 | 1,599 | 1,345 | 1,300 | |
| Other current assets | 157 | 337 | 510 | 514 | 446 | 436 | |
| Total current assets | 2,843 | 5,777 | 4,963 | 4,747 | 4,589 | 5,528 | |
| Property, plant and equipment | 3,991 | 2,923 | 2,779 | 2,674 | 2,570 | 2,517 | |
| Lease right-of-use assets | 1,131 | 1,361 | 964 | 864 | 731 | 853 | |
| Goodwill | 1,162 | 1,230 | 732 | 812 | 805 | 790 | 786 |
| Intangible assets | 60 | 36 | 171 | 188 | 218 | 165 | |
| Other non-current assets | 85 | 385 | 267 | 67 | 162 | 360 | |
| Total assets | 11,205 | 13,213 | 11,464 | 10,590 | 10,452 | 12,551 | |
| Accounts payable | 919 | 1,140 | 1,774 | 1,408 | 1,351 | 1,346 | |
| Accrued liabilities | 512 | 498 | 346 | 487 | 437 | 369 | |
| Deferred revenue | 854 | 872 | 820 | 825 | 746 | 888 | |
| Short-term debt | 69 | 103 | 110 | 126 | 129 | 1,800 | |
| Total current liabilities | 3,910 | 4,457 | 4,868 | 4,589 | 4,300 | 6,307 | |
| Long-term debt | 140 | 3,000 | 3,000 | 2,900 | 2,900 | 3,900 | |
| Lease liabilities | 850 | 1,007 | 707 | 622 | 511 | 602 | |
| Other non-current liabilities | 282 | 522 | 450 | 332 | 443 | 1,176 | |
| Total liabilities | 6,274 | 10,446 | 10,002 | 9,468 | 9,121 | 11,259 | |
| Total debt | 140 | 3,000 | 3,000 | 2,900 | 2,900 | 3,900 | |
| Paid-in capital | 4,284 | 4,428 | 4,524 | 4,631 | 4,701 | ||
| Retained earnings | -375 | -1,978 | -2,319 | -2,067 | -1,869 | ||
| Treasury stock | -1 | -23 | -45 | -184 | -582 | ||
| Other comprehensive income | -1,100 | -1,143 | -1,062 | -1,145 | -1,160 | -1,074 | |
| Shareholders' equity | 4,873 | 2,765 | 1,365 | 1,015 | 1,219 | 1,175 | |
| Minority interests | 58 | 3 | 97 | 107 | 113 | 117 | |
| Total equity | 5,994 | 4,985 | 2,767 | 1,462 | 1,122 | 1,331 | 1,293 |
| Total liabilities and equity | 11,205 | 13,213 | 11,464 | 10,590 | 10,452 | 12,551 |
Cash flow statement
| FY2019 | FY2021 | FY2021 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|
| Net income | -943 | -2,007 | -2,304 | -1,374 | -340 | 252 | 198 |
| Depreciation and amortization | 1,469 | 1,445 | 1,300 | 900 | 834 | 660 | 762 |
| Stock-based compensation | 51 | 64 | 71 | 113 | 95 | 100 | 64 |
| Deferred income tax | -33 | -52 | -401 | 285 | -13 | -1 | -24 |
| Change in receivables | 23 | 387 | -1,076 | 664 | -105 | 284 | 84 |
| Change in payables | 33 | 70 | 125 | 282 | -305 | -89 | -93 |
| Cash from operations | 1,134 | 628 | -119 | 781 | 454 | 942 | 948 |
| Capital expenditures | -1,190 | -1,036 | -752 | -865 | -651 | -605 | -608 |
| Cash from investing | -1,128 | -953 | -572 | -835 | -553 | -404 | -561 |
| Debt issued | 494 | ||||||
| Share buybacks | -93 | -304 | |||||
| Cash from financing | 0 | 312 | 2,915 | -141 | -170 | -286 | 457 |
| Exchange rate effect | -1 | 1 | -22 | -100 | -37 | -16 | -9 |
| Net change in cash | 5 | -13 | 2,203 | -294 | -306 | 235 | 836 |
| Free cash flow | -56 | -408 | -871 | -84 | -197 | 337 | 340 |
| Interest paid | 2 | 98 | 118 | 119 | 115 | ||
| Income taxes paid | 12 | 167 | 191 | 149 | 151 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 22.3% | Gross profit / revenue. |
| Pre-tax margin | 1.8% | Pre-tax income / revenue. |
| Net margin | 0.5% | Net income / revenue. |
| FCF margin | 0.6% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 5.3% | Cash from operations / revenue. |
| Effective tax rate | 70.4% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 7.2% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 0.7% | Net income / average total assets. |
| SG&A / revenue | 18.0% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 0.4% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 4.7% | Capital expenditures / revenue. |
| D&A / revenue | 5.0% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | 0.2% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -3.9% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | -4.9% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | 4.6% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | 9.2% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 8.2% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -21.4% | Net income vs the same period a year earlier. Only from a positive base. |
| EPS growth, 1y | -19.0% | EPS vs the same period a year earlier. Only from a positive base. |
| Operating cash flow growth, 1y | 0.6% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | 6.7% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 8.6% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | 0.9% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Book value growth, 1y | -3.6% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -4.9% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | -24.8% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 20.1% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 3.1% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 2.3% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -2.2% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | 1.0% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | 0.9% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 0.95x | Current assets / current liabilities. |
| Quick ratio | 0.60x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 0.34x | (Cash + short-term investments) / current liabilities. |
| Debt / equity | 3.62x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 32.9% | Total debt / total assets. |
| Liabilities / assets | 90.1% | Total liabilities / total assets. |
| Net debt | $2.24B | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Working capital | -$228.0M | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 10.5% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | -$168.0M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 1.26x | Revenue / average total assets. |
| Fixed asset turnover | 5.88x | Revenue / average property, plant and equipment. |
| Receivables turnover | 12.2x | Revenue / average receivables. |
| Days sales outstanding | 30 days | 365 x average receivables / revenue. |
| Days payables | 31 days | 365 x average accounts payable / cost of revenue. |
| FCF conversion | 115.4% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 88.6% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $0.36 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| Revenue per share | $67.99 | Revenue / diluted weighted shares. |
| FCF per share | $0.41 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $3.60 | Cash from operations / diluted weighted shares. |
| Book value per share | $4.92 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | -$0.77 | Tangible book value / shares outstanding. |
| Cash per share | $7.57 | (Cash + short-term investments) / shares outstanding. |
| Buybacks / FCF | 277.8% | Share buybacks / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $3.76B | Share price x shares outstanding. |
| Enterprise value | $6.00B | Market cap + total debt - cash - short-term investments. |
| P/E | 48.3x | Market cap / net income. Only when net income is positive. |
| P/S | 0.25x | Market cap / revenue. |
| P/B | 3.49x | Market cap / shareholders' equity. Only when equity is positive. |
| P/FCF | 41.8x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 4.77x | Market cap / cash from operations, when positive. |
| EV/Sales | 0.40x | Enterprise value / revenue. |
| EV/FCF | 66.7x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 2.4% | Free cash flow / market cap. |
| Earnings yield | 2.1% | Net income / market cap (the inverse of P/E). |
| Shareholder yield | 6.6% | (Dividends paid + share buybacks) / market cap. |
What was Kyndryl Holdings, Inc.'s revenue in fiscal 2026?
Kyndryl Holdings, Inc. reported revenue of $15.09B for fiscal 2026, 0.2% higher than the year before.
Was Kyndryl Holdings, Inc. profitable in fiscal 2026?
Yes. Net income was $198.0M, a net margin of 1.3%.
How much free cash flow did Kyndryl Holdings, Inc. generate in fiscal 2026?
Cash from operations of $948.0M minus capital expenditures of $608.0M left free cash flow of $340.0M.