Kyndryl Holdings, Inc. KD
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| 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 | 0.87 | 1.09 | -1.48 | -6.06 | -10.28 | -8.96 | -4.19 | — |
| EPS, diluted | 0.85 | 1.05 | -1.48 | -6.06 | -10.28 | -8.96 | -4.19 | — |
| Shares, diluted (wtd. avg.) | $233.8M | $239.1M | $229.2M | $226.7M | $224.1M | $224.1M | $224.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| 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.
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