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Kyndryl vs Light & Wonder: revenue, profit, margins and growth compared

Kyndryl brought in $15.1B of revenue in fiscal 2026, Light & Wonder $3.3B in fiscal 2025. Revenue changed by +0.2% at Kyndryl and +4.0% at Light & Wonder on the year before, so Light & Wonder grew faster. Kyndryl kept 1.3% of its revenue as net profit, Light & Wonder 8.3%.

Side by side, latest fiscal year

KDLNWO
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$15.1B$3.3B
Revenue growth+0.2%+4.0%
Net income$198M$276M
Net margin1.3%8.3%
Free cash flow$340Mn/a
Free cash flow margin2.3%n/a
Earnings per share (diluted)$0.85$3.26
Cash$2.6B$167M
Debt$3.9B$5.2B
Price to earnings13.224.0
Market value$2.4B$6B
Dividend yieldn/an/a
Rank by revenue in sector#47 of 731 · Technology#120 of 731 · Technology

Over the years

Revenue
KD FY2019: $20.3BKD FY2021: $19.4BKD FY2021: $18.7BKD FY2023: $17BKD FY2024: $16.1BKD FY2025: $15.1BKD FY2026: $15.1BLNWO FY2018: $3.4BLNWO FY2019: $2.4BLNWO FY2020: $1.7BLNWO FY2021: $2.2BLNWO FY2022: $2.5BLNWO FY2023: $2.9BLNWO FY2024: $3.2BLNWO FY2025: $3.3BFY18FY19FY20FY21FY22FY23FY24FY25FY26
KD $15.1BLNWO $3.3B
Net income
KD FY2019: -$943MKD FY2021: -$2BKD FY2021: -$2.3BKD FY2023: -$1.4BKD FY2024: -$340MKD FY2025: $252MKD FY2026: $198MLNWO FY2018: -$352MLNWO FY2019: -$130MLNWO FY2020: -$569MLNWO FY2021: $371MLNWO FY2022: $3.7BLNWO FY2023: $163MLNWO FY2024: $336MLNWO FY2025: $276MFY18FY19FY20FY21FY22FY23FY24FY25FY26
KD $198MLNWO $276M
Net margin
KD FY2019: -4.7%KD FY2021: -10.4%KD FY2021: -12.3%KD FY2023: -8.1%KD FY2024: -2.1%KD FY2025: 1.7%KD FY2026: 1.3%LNWO FY2018: -10.5%LNWO FY2019: -5.4%LNWO FY2020: -33.5%LNWO FY2021: 17.2%LNWO FY2022: 146.3%LNWO FY2023: 5.6%LNWO FY2024: 10.5%LNWO FY2025: 8.3%FY18FY19FY20FY21FY22FY23FY24FY25FY26
KD 1.3%LNWO 8.3%
Revenue growth
KD FY2021: -4.6%KD FY2021: -3.6%KD FY2024: -5.7%KD FY2025: -6.2%KD FY2026: +0.2%LNWO FY2019: -29.0%LNWO FY2020: -28.9%LNWO FY2021: +26.7%LNWO FY2022: +16.7%LNWO FY2023: +15.5%LNWO FY2024: +9.9%LNWO FY2025: +4.0%FY19FY20FY21FY22FY23FY24FY25FY26
KD +0.2%LNWO +4.0%
Free cash flow
KD FY2019: -$56MKD FY2021: -$408MKD FY2021: -$871MKD FY2023: -$84MKD FY2024: -$197MKD FY2025: $337MKD FY2026: $340MLNWO FY2018: -$45MLNWO FY2019: $261MFY18FY19FY21FY23FY24FY25FY26
KD $340MLNWO $261M

Fiscal years as each company reports them; the two may end in different months.

Questions about Kyndryl and Light & Wonder

Which is bigger by revenue, Kyndryl or Light & Wonder?

Kyndryl is bigger by revenue: $15.1B in fiscal 2026, against $3.3B for Light & Wonder in fiscal 2025.

Which keeps more of its revenue as profit, Kyndryl or Light & Wonder?

Kyndryl had a net margin of 1.3% in fiscal 2026; Light & Wonder had 8.3% in fiscal 2025.

Which grew revenue faster, Kyndryl or Light & Wonder?

In their latest fiscal years revenue changed by +0.2% at Kyndryl and +4.0% at Light & Wonder.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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