Kyndryl (KD) financial statements
Kyndryl reported revenue of $15.1B in fiscal 2026, down 4.8% a year over 6 years.
Net income was $198M.
Free cash flow was $340M, and the company returned $304M in net buybacks.
The diluted share count rose 4% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Kyndryl's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | $20.3B | $19.4B | $18.7B | $17.0B | $16.1B | $15.1B | $15.1B |
| Cost of revenue | $17.7B | $17.1B | $16.6B | $14.5B | $13.2B | $11.9B | $11.8B |
| Gross profit | $2.6B | $2.2B | $2.1B | $2.5B | $2.9B | $3.1B | $3.3B |
| Research and development | $83M | $76M | $63M | $79M | $58M | $49M | $57M |
| Selling, general and admin | $3.0B | $2.9B | $2.8B | $2.9B | $2.8B | $2.6B | $2.7B |
| Interest expense | $76M | $63M | $64M | $94M | $122M | $100M | $89M |
| Pre-tax income | -$579M | -$1.8B | -$1.9B | -$851M | -$168M | $435M | $414M |
| Income tax | $364M | $247M | $402M | $524M | $172M | $184M | $215M |
| Net income | -$943M | -$2.0B | -$2.3B | -$1.4B | -$340M | $252M | $198M |
| EPS (diluted) | -$4.21 | -$8.96 | -$10.28 | -$6.06 | -$1.48 | $1.05 | $0.85 |
| Diluted shares | 224M | 224M | 224M | 227M | 229M | 239M | 234M |
| Gross margin | 12.8% | 11.4% | 11.3% | 14.8% | 17.8% | 20.9% | 21.8% |
| Net margin | -4.7% | -10.4% | -12.3% | -8.1% | -2.1% | 1.7% | 1.3% |
Balance sheet
Fiscal years, from Kyndryl's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $50M | $24M | $2.2B | $1.8B | $1.6B | $1.8B | $2.6B |
| Receivables | — | $1.4B | $2.3B | $1.5B | $1.6B | $1.3B | $1.3B |
| Total current assets | — | $2.8B | $5.8B | $5.0B | $4.7B | $4.6B | $5.5B |
| Property, plant and equipment | — | $4.0B | $2.9B | $2.8B | $2.7B | $2.6B | $2.5B |
| Goodwill | $1.2B | $1.2B | $732M | $812M | $805M | $790M | $786M |
| Total assets | — | $11.2B | $13.2B | $11.5B | $10.6B | $10.5B | $12.6B |
| Total current liabilities | — | $3.9B | $4.5B | $4.9B | $4.6B | $4.3B | $6.3B |
| Long-term debt | — | $140M | $3.1B | $3.1B | $3.1B | $3.0B | $2.3B |
| Total liabilities | — | $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 |
| Net debt | -$50M | $116M | $905M | $1.3B | $1.6B | $1.4B | $1.5B |
Cash flow
Fiscal years, from Kyndryl's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.1B | $628M | -$119M | $781M | $454M | $942M | $948M |
| Capital spending | $1.2B | $1.0B | $752M | $865M | $651M | $605M | $608M |
| Free cash flow | -$56M | -$408M | -$871M | -$84M | -$197M | $337M | $340M |
| Stock-based compensation | $51M | $64M | $71M | $113M | $95M | $100M | $64M |
| Share buybacks (net) | — | — | — | — | — | -$93M | -$304M |
| Free cash flow margin | -0.3% | -2.1% | -4.7% | -0.5% | -1.2% | 2.2% | 2.3% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for KD.
Open KD in InvestinglyQuestions
What was Kyndryl's revenue in 2026?
$15.1B in fiscal 2026, from its 10-K filing.
How much free cash flow does Kyndryl generate?
$340M in fiscal 2026 (operating cash flow minus capital spending).
From Kyndryl's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.