Kyndryl Holdings, Inc. KD

Technology SIC 7373 - Services-Computer Integrated Systems Design NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services derived NYSE

Kyndryl is a leading provider of mission-critical enterprise technology services, offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day.

Our purpose is to design, build and manage secure and responsive private, public and multi-cloud environments to serve our customers' needs and accelerate their digital transformations. We offer services across a number of areas of expertise, such as cloud services, core enterprise services, applications, data and artificial intelligence ("AI") services, digital workplace services, security and resiliency services and network and edge services as we continue to support our customers through technological change. Our services enable us to modernize and manage cloud, on-premises and hybrid IT environments as "one" for our customers, enabling them to scale seamlessly.

Last close 14.76 2026-10-23
Market cap $3.21B 2026-06-30 share count
52-week range 10.10 - 29.45

Valuation FY2025 figures against the last close

P/S0.2x
P/E17.4x
P/FCF9.5x
EV/EBITDA—
Dividend yield—
Diluted EPS0.85

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • Other countries, excluding United States and Japan
  • United States.
  • Japan.
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 Other countries, excluding United States and Japan, FY2025: 9B (59.8%) 60% Other countries, excluding United States and Japan United States., FY2025: 3.8B (25.1%) 25% United States. Japan., FY2025: 2.3B (15.1%) 15% Japan. FY2024 Other countries, excluding United States and Japan, FY2024: 8.8B (58.6%) 59% United States., FY2024: 3.9B (25.7%) 26% Japan., FY2024: 2.4B (15.7%) 16% FY2023 Other countries, excluding United States and Japan, FY2023: 9.4B (58.6%) 59% United States., FY2023: 4.3B (26.8%) 27% Japan., FY2023: 2.3B (14.6%) 15%
Region FY2025FY2024FY2023
Other countries, excluding United States and Japan $9.02B $8.82B $9.41B
United States. $3.78B $3.88B $4.29B
Japan. $2.28B $2.36B $2.34B

As the company reported it, from the “SEGMENTS - Geographic Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Principal Markets
  • United States
  • Strategic Markets
  • Japan
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Principal Markets, FY2025: 5.4B (35.8%) 36% Principal Markets United States, FY2025: 3.8B (25.1%) 25% United States Strategic Markets, FY2025: 3.6B (24.0%) 24% Strategic Markets Japan, FY2025: 2.3B (15.1%) 15% Japan FY2024 Principal Markets, FY2024: 5.2B (34.6%) 35% United States, FY2024: 3.9B (25.7%) 26% Strategic Markets, FY2024: 3.6B (24.0%) 24% Japan, FY2024: 2.4B (15.7%) 16% FY2023 Principal Markets, FY2023: 5.5B (34.1%) 34% United States, FY2023: 4.3B (26.8%) 27% Strategic Markets, FY2023: 3.9B (24.5%) 25% Japan, FY2023: 2.3B (14.6%) 15%
Segment FY2025FY2024FY2023
Principal Markets $5.40B $5.21B $5.48B
United States $3.78B $3.88B $4.29B
Strategic Markets $3.62B $3.62B $3.93B
Japan $2.28B $2.36B $2.34B

As the company reported it, from the “SEGMENTS - Results of segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $15.09B$15.06B$16.05B$17.03B$18.66B$19.35B$20.28B—
Cost of revenue $11.80B$11.91B$13.19B$14.50B$16.55B$17.14B$17.68B—
Gross profit $3.29B$3.14B$2.86B$2.53B$2.11B$2.21B$2.60B—
R&D $57.0M$49.0M$58.0M$79.0M$63.0M$76.0M$83.0M—
SG&A $2.65B$2.59B$2.77B$2.91B$2.78B$2.95B$2.97B—
Interest expense $89.0M$100.0M$122.0M$94.0M$64.0M$63.0M$76.0M—
Pre-tax income $414.0M$435.0M-$168.0M-$851.0M-$1.90B-$1.76B-$573.0M—
Income tax $215.0M$184.0M$172.0M$524.0M$402.0M$247.0M$366.0M—
Net income $185.0M$252.0M-$340.0M-$1.37B-$2.30B-$2.01B-$939.0M—
EPS, basic 0.871.09-1.48-6.06-10.28-8.96-4.19—
EPS, diluted 0.851.05-1.48-6.06-10.28-8.96-4.19—
Shares, diluted (wtd. avg.) 233.8M239.1M229.2M226.7M224.1M224.1M224.1M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $2.62B$1.79B$1.55B$1.86B$2.15B$38.0M$50.0M$46.0M
Receivables $1.30B$1.34B$1.60B$1.52B$2.28B$1.44B——
Total current assets $5.53B$4.59B$4.75B$4.96B$5.78B$2.84B——
Property, plant and equipment $2.52B$2.57B$2.67B$2.78B$2.92B$3.99B——
Goodwill $786.0M$790.0M$805.0M$812.0M$823.0M$1.23B$1.16B—
Other intangibles $165.0M$218.0M$188.0M$171.0M$36.0M$60.0M——
Total assets $12.55B$10.45B$10.59B$11.46B$13.21B$11.21B——
Accounts payable $1.35B$1.35B$1.41B$1.77B$1.14B$919.0M——
Short-term debt $1.80B$129.0M$126.0M$110.0M$105.0M$69.0M——
Total current liabilities $6.31B$4.30B$4.59B$4.87B$4.46B$3.91B——
Long-term debt $3.90B$2.90B$2.90B$3.00B$3.00B$140.0M——
Total liabilities $11.26B$9.12B$9.47B$10.00B$10.45B$6.27B——
Retained earnings -$1.87B-$2.07B-$2.32B-$1.98B-$375.0M———
Total equity $1.18B$1.22B$1.12B$1.46B$2.71B$4.99B$5.99B$6.32B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $948.0M$942.0M$454.0M$781.0M-$119.0M$628.0M$1.13B—
Depreciation and amortisation $762.0M$660.0M$834.0M$900.0M$1.30B$1.45B$1.47B—
Stock-based compensation $64.0M$100.0M$95.0M$113.0M$71.0M$64.0M$51.0M—
Capital expenditure $608.0M$605.0M$651.0M$865.0M$752.0M$1.04B$1.19B—
Investing cash flow -$561.0M-$404.0M-$553.0M-$835.0M-$572.0M-$953.0M-$1.13B—
Financing cash flow $457.0M-$286.0M-$170.0M-$141.0M$2.92B$312.0M$0—
Buybacks $304.0M$93.0M——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-025446.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -10B 0 10B 20B 30B Revenue, FY2019: 20.3B Gross profit, FY2019: 2.6B Net income, FY2019: -939M Revenue, FY2020: 19.4B Gross profit, FY2020: 2.2B Net income, FY2020: -2B Revenue, FY2021: 18.7B Gross profit, FY2021: 2.1B Net income, FY2021: -2.3B Revenue, FY2022: 17B Gross profit, FY2022: 2.5B Net income, FY2022: -1.4B Revenue, FY2023: 16.1B Gross profit, FY2023: 2.9B Net income, FY2023: -340M Revenue, FY2024: 15.1B Gross profit, FY2024: 3.1B Net income, FY2024: 252M Revenue, FY2025: 15.1B Gross profit, FY2025: 3.3B Net income, FY2025: 185M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $20.28B $19.35B $18.66B $17.03B $16.05B $15.06B $15.09B
Gross profit — $2.60B $2.21B $2.11B $2.53B $2.86B $3.14B $3.29B
Net income — -$939.0M -$2.01B -$2.30B -$1.37B -$340.0M $252.0M $185.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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