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Kyndryl

KD NYSE IT Consulting & Other Services Financials FY2019–FY2026

Kyndryl had $15.1B of revenue in fiscal 2026, up 0.2% on the year before. Over five years, revenue changed βˆ’4.9% a year on average.

Download report 3-page PDF: the company, its results and charts with peers.

Last close Β· Oct 23, 2026

$14.76

2.9%
Value it Compare

What Kyndryl does

KD Β· IT Consulting & Other Services

From its latest annual report

No business description yet.

Filing details

Legal name
Kyndryl Holdings, Inc.
Fiscal year ends
March 31, 2026
Latest annual report
β€”
Accession Β· CIK
0001104659-26-067881 Β· 0001867072

KIRA’s summary AI analyst

Hi! I read Kyndryl’s latest annual report (fiscal 2026). Here is what stands out:

3 strengths

1.Sales and profit

See section β†’
  • Kyndryl had $15.1B of revenue in fiscal 2026, up 0.2% on the year before. Over five years, revenue changed βˆ’4.9% a year on average.
  • Kyndryl made $198M of net profit in fiscal 2026.

2.Cash and shareholders

See section β†’
  • Free cash flow was $340M in fiscal 2026, 2.3% of revenue.
  • Kyndryl returned $304M to shareholders in fiscal 2026, 89% of free cash flow. The diluted share count fell 2.2%.
  • In the last 12 months, insiders sold $0.2M of shares on the open market and bought none.

3.Financial health

See section β†’
  • Kyndryl owes $2.3B more than it holds in cash, about 1.8 years of operating profit.
  • Its return on capital was 7.8%: every 100 invested in the business earned about 8 in a year.
  • Kyndryl passes 6 of 9 financial health tests (Piotroski F-score).

4.Price and value

See section β†’
  • At $14.76 a share, the company is worth $3.3B: 39.9 times its earnings of the last four quarters.
  • Kyndryl grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 4 of 4.

Kyndryl in 30 seconds

Good So-so Weak

So-so

Are sales growing?

+0.2%

Only a little. Sales grew 0.2% last year.

So-so

Does it make a profit?

1.3%

A little. It keeps 1.3% of every sale as profit.

So-so

Does profit turn into cash?

2.3%

Partly. 2.3% of sales ends up as free cash.

So-so

Is debt under control?

1.8x

Keep an eye on it. Repaying its debt would take 1.8 years of operating profit.

So-so

How healthy are the accounts?

6 / 9

Mixed. It passes 6 of 9 health tests.

For information

How is the share priced?

39.9x

One share costs 39.9 times its yearly profit per share. Typical for its sector: 33.0x.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Key numbers, fiscal 2026

Market cap Last close times the latest diluted share count, so it is approximate.
$3.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
39.9x
On $0.37 EPS (TTM)

Revenue

Total sales reported in the income statement.

KIRA Β· Kyndryl had $15.1B of revenue in fiscal 2026, up 0.2% on the year before. Over five years, revenue changed βˆ’4.9% a year on average.

See the full section β†’

Operating margin

Operating income as a share of revenue.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Kyndryl made $198M of net profit in fiscal 2026.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

KIRA Β· Free cash flow was $340M in fiscal 2026, 2.3% of revenue.

See the full section β†’

Return on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

KIRA Β· Its return on capital was 7.8%: every 100 invested in the business earned about 8 in a year.

See the full section β†’
Charts by

Sales and profit

Is it selling more, and how much does it keep?

Results dates

In plain words: Every quarter, companies publish how much they sold and earned. These are the days Kyndryl did it, and the next one. Share prices often move a lot on those days.

Next results

November 4, 2026

Wednesday Β· in 9 days

Time
Before the market opens
Covers
Period ended Sep 30, 2026
Expected EPS
$0.25
Source
Earnings calendar
See who else reports that week β†’
Date Results for Time Source
Aug 5, 2026 Q1 '27 Before the market opens 8-K β†—
May 5, 2026 Q4 '26 Time not announced 8-K β†—
Feb 9, 2026 Q3 '26 Before the market opens 8-K β†—
Nov 4, 2025 Q2 '26 After the market closes 8-K β†—
Aug 4, 2025 Q1 '26 After the market closes 8-K β†—
May 7, 2025 Q4 '25 After the market closes 8-K β†—
Feb 3, 2025 Q3 '25 After the market closes 8-K β†—
Nov 6, 2024 Q2 '25 After the market closes 8-K β†—

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

Revenue and margins

KIRA Β· Kyndryl had $15.1B of revenue in fiscal 2026, up 0.2% on the year before. Over five years, revenue changed βˆ’4.9% a year on average.

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Revenue

Revenue

Margins, % of revenue

Gross Operating Net FCF

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

KIRA Β· Kyndryl made $198M of net profit in fiscal 2026.

Loss periods are shown in red.

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Net income

Net income

Diluted EPS

Diluted EPS

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

KIRA Β· Free cash flow was $340M in fiscal 2026, 2.3% of revenue.

Cash from operations minus capital spending.

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

Free cash flow

Free cash flow

Cash from operations vs capital spending

Cash from operations Capital spending

Cash from operations vs capital spending

Cash from operations Capital spending

Dividends, buybacks and share count

KIRA Β· Kyndryl returned $304M to shareholders in fiscal 2026, 89% of free cash flow. The diluted share count fell 2.2%.

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Dividends and buybacks

Dividends Buybacks

Dividends and buybacks

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders sold $0.2M of shares on the open market and bought none.

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. β€œPlan” marks trades under a pre-arranged Rule 10b5-1 plan.

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.2M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Dec 5, 2025 Vineet KhuranaSVP & Global Controller Sold 6,641 $26.69 $0.2M Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

KIRA Β· Kyndryl owes $2.3B more than it holds in cash, about 1.8 years of operating profit.

Cash, debt and the ratios that show how comfortably Kyndryl can carry it.

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

Cash vs debt (incl. leases)

Cash Debt
Fiscal year endFY21FY23FY24FY25FY26
Cash and short-term investments $2.2B$1.8B$1.6B$1.8B$2.6B
Debt incl. finance leases $3.4B$3.3B$3.4B$3.3B$4.9B
Net debt / EBITDA β€”7.9x2.2x1.3x1.8x
Debt / equity 1.2x2.5x3.3x2.7x4.2x
Interest coverage βˆ’28.7xβˆ’8.1xβˆ’0.4x5.4x5.7x
Current ratio 1.3x1.0x1.0x1.1x0.9x
Quick ratio 1.3x1.0x1.0x1.1x0.9x
Total assets $13.2B$11.5B$10.6B$10.5B$12.6B
Total liabilities $10.4B$10.0B$9.5B$9.1B$11.3B
Shareholders' equity $2.8B$1.4B$1.0B$1.2B$1.2B
Net debt (βˆ’ = net cash) $1.1B$1.5B$1.8B$1.5B$2.3B

Returns on capital

KIRA Β· Its return on capital was 7.8%: every 100 invested in the business earned about 8 in a year.

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Return on capital, equity and assets (annual)

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA Β· Kyndryl passes 6 of 9 financial health tests (Piotroski F-score).

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

TestFY24FY25FY26
Net income is positive βœ• βœ“ βœ“
Cash from operations is positive βœ“ βœ“ βœ“
Return on assets rose β€” βœ“ βœ•
Cash from operations exceeds net income βœ“ βœ“ βœ“
Debt fell relative to assets β€” βœ• βœ•
Current ratio rose βœ“ βœ“ βœ•
Share count didn't rise βœ• βœ• βœ“
Gross margin rose βœ“ βœ“ βœ“
Revenue rose relative to assets β€” βœ“ βœ“
F-score β€” / 97 / 96 / 9
Accruals ratio βˆ’7.2%βˆ’6.6%βˆ’6.5%
Altman Z'' βˆ’0.520.03βˆ’0.50

Price and value

What does the share cost, and how does it compare?

Value Kyndryl yourself

KIRA Β· At $14.76 a share, the company is worth $3.3B: 39.9 times its earnings of the last four quarters.

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β€” the answer depends entirely on what you put in.

In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.

Discounted cash flow

Value per share

β€”

Adds net cash of βˆ’$2.3B and divides by 233.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

β€”

Reference multiples: today 39.9x Β· peers 21.0x Β· sector 33.0x.

Similar companies

KIRA Β· Kyndryl grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 4 of 4.

Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.

In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Kyndryl KD $3.3B 0.2% β€” 2.3% 7.8% 39.9x 6
DXC Technology DXC $2.7B βˆ’1.8% 7.7% 8.2% 9.2% 21.2x 7 Compare β†’
Cognizant CTSH $33.6B 7.0% 16.1% 12.3% 16.2% 15.3x 6 Compare β†’
Gartner IT $15.3B 3.7% 15.8% 18.1% 44.6% 20.8x 5 Compare β†’
IBM IBM $241.8B 7.6% β€” 17.9% 15.4% 21.6x 6 Compare β†’

All figures

Every number, year by year.

7 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

Download CSV
Fiscal yearFY19FY20FY21FY23FY24FY25FY26
Income statement
Revenue $20.3B $19.4B $18.7B $17.0B $16.1B $15.1B $15.1B
Gross profit $2.6B $2.2B $2.1B $2.5B $2.9B $3.1B $3.3B
Research and development $83.0M $76.0M $63.0M $79.0M $58.0M $49.0M $57.0M
Interest expense $76.0M $63.0M $64.0M $94.0M $122M $100M $89.0M
Pretax income βˆ’$579M βˆ’$1.8B βˆ’$1.9B βˆ’$851M βˆ’$168M $435M $414M
Income tax $364M $247M $402M $524M $172M $184M $215M
Net income βˆ’$943M βˆ’$2.0B βˆ’$2.3B βˆ’$1.4B βˆ’$340M $252M $198M
Diluted EPS βˆ’$4.21 βˆ’$8.96 βˆ’$10.28 βˆ’$6.06 βˆ’$1.48 $1.05 $0.85
Diluted shares 0.22B 0.22B 0.22B 0.23B 0.23B 0.24B 0.23B
Cash flow
Cash from operations $1.1B $628M βˆ’$119M $781M $454M $942M $948M
Capital expenditure $1.2B $1.0B $752M $865M $651M $605M $608M
Free cash flow βˆ’$56.0M βˆ’$408M βˆ’$871M βˆ’$84.0M βˆ’$197M $337M $340M
Depreciation and amortization $1.5B $1.5B $1.3B $946M $864M $690M $789M
Stock-based compensation $51.0M $64.0M $71.0M $113M $95.0M $100M $64.0M
Acquisitions $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $93.0M $304M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $93.0M $304M
Balance sheet
Cash and short-term investments $50.0M $24.0M $2.2B $1.8B $1.6B $1.8B $2.6B
Total debt β€” $278M $3.4B $3.3B $3.4B $3.3B $4.9B
Finance lease liabilities $0.0M $209M $223M $242M $288M $250M $194M
Current assets β€” $2.8B $5.8B $5.0B $4.7B $4.6B $5.5B
Current liabilities β€” $3.9B $4.5B $4.9B $4.6B $4.3B $6.3B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net β€” $4.0B $2.9B $2.8B $2.7B $2.6B $2.5B
Total assets β€” $11.2B $13.2B $11.5B $10.6B $10.5B $12.6B
Total liabilities β€” $6.3B $10.4B $10.0B $9.5B $9.1B $11.3B
Shareholders' equity $6.0B $4.9B $2.8B $1.4B $1.0B $1.2B $1.2B
Margins
Gross margin 12.8% 11.5% 11.3% 14.9% 17.8% 20.9% 21.8%
EBITDA margin 4.9% βˆ’1.2% βˆ’2.7% 1.1% 5.1% 8.1% 8.6%
Net margin βˆ’4.7% βˆ’10.4% βˆ’12.4% βˆ’8.1% βˆ’2.1% 1.7% 1.3%
FCF margin βˆ’0.3% βˆ’2.1% βˆ’4.7% βˆ’0.5% βˆ’1.2% 2.2% 2.3%
Returns
Return on capital β€” β€” βˆ’31.8% β€” βˆ’1.2% 10.6% 7.8%
Return on capital employed β€” β€” βˆ’22.9% β€” βˆ’0.7% 8.8% 8.1%
Return on equity β€” β€” βˆ’60.3% β€” βˆ’28.6% 22.6% 16.5%
Return on assets β€” β€” βˆ’18.9% β€” βˆ’3.1% 2.4% 1.7%
Growth
Revenue growth β€” βˆ’4.6% βˆ’3.6% β€” βˆ’5.7% βˆ’6.2% 0.2%
Net income growth β€” β€” β€” β€” β€” β€” βˆ’21.4%
EPS growth β€” β€” β€” β€” β€” β€” βˆ’19.1%
FCF growth β€” β€” β€” β€” β€” β€” 0.9%
Share count change β€” 0.0% 0.0% β€” 1.1% 4.3% βˆ’2.2%
Financial health
Net debt / EBITDA β€” β€” β€” 7.9x 2.2x 1.3x 1.8x
Debt / equity β€” 0.1x 1.2x 2.5x 3.3x 2.7x 4.2x
Interest coverage βˆ’6.6x βˆ’26.9x βˆ’28.7x βˆ’8.1x βˆ’0.4x 5.4x 5.7x
Current ratio β€” 0.7x 1.3x 1.0x 1.0x 1.1x 0.9x
Quick ratio β€” 0.7x 1.3x 1.0x 1.0x 1.1x 0.9x
Capital allocation
Capex / revenue 5.9% 5.4% 4.0% 5.1% 4.1% 4.0% 4.0%
Stock comp / revenue 0.3% 0.3% 0.4% 0.7% 0.6% 0.7% 0.4%
Payouts / FCF β€” β€” β€” β€” β€” 27.6% 89.4%
Quality scores
Piotroski F-score β€” β€” β€” β€” β€” 7.0 6.0
Altman Z'' β€” β€” βˆ’0.1 βˆ’0.8 βˆ’0.5 0.0 βˆ’0.5
Accruals ratio β€” β€” βˆ’17.9% β€” βˆ’7.2% βˆ’6.6% βˆ’6.5%

Source: SEC EDGAR XBRL filings (CIK 0001867072). Data updated October 12, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β€” not investment advice. Check the original filings before relying on any figure.

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