Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Kyndryl Holdings, Inc.KD · business equipment
GradeNonecomputable_factors_below_threshold: 6 of 14 inputs computable; 7 are required
Reliability0.94 AUCfailure model, filers with over $2.67B assets; 95% interval 0.88 to 0.97; 61 events, 2020 to 2025
Peer failure rate0.52% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size bandover $2.67B assetstotal assets $12.6B[1]
Standard universeinsiderevenue above $1M and assets above $10M[1-2]
Warningslate filer, thin data · fortress balance sheetnot computable: distress
Inputs computable6 of 14
Graded fromfilings received through May 29, 2026133 days before the rescan; every figure keyed to the SEC receipt date
Last close$11.902026-10-08; market equity $2.6B; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$10$20$30NovDecJanFebMarAprMayJunJulAugSepOct$11.88
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Mar 21, 2022nonen/aQ5

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received May 29, 2026; the document on sec.gov.

In this report, we use the terms “Kyndryl,” the “Company,” “we,” “us” and “our” to refer to Kyndryl Holdings, Inc. and its consolidated subsidiaries. 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.

Warnings [top]

Late filer. found 1 NT 10-K/Q filings in the last eight quarters
Thin data. 6 of 14 grade factors are computable; minimum is 7
Fortress balance sheet. cash minus debt is 330,000,000 USD; Altman Z is not used[3-4]

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 53.5
Gross profitability26.2%[1-2,5]28.5%50.65582026-03-31
Return on invested capitalnot computable10.9%
one or more required annual facts are missing
Accruals ratio(6.5%)[1,6-8](7.4%)56.56212026-03-31
Gross margin stability, five yearsnot computable2.4 pts
five consecutive annual gross margins are required
Solvency, sleeve percentile 85.4
Twelve-month failure probabilitynot computable0.05%
four consecutive discrete net-income quarters are required; found 4
Altman Z double-primenot computable2.18
one or more required annual facts are missing
Net debt to EBITDAnot computable1.11x
one or more required annual facts are missing
Interest coveragenot computable3.77x
one or more required annual facts are missing
Current ratio0.88x[9-10]2.02x85.46662026-03-31
Growth and financing, sleeve percentile 46.4
Revenue growth, three-year compound(3.9%)[2,11-13]6.4%77.35382026-03-31
Free cash flow growth, three-year compoundnot computable17.2%
current FCF must be positive and base FCF must exceed $100,000
Reinvestment ratenot computable14.3%
one or more required annual facts are missing
Asset growth, three years3.1%[1,8,14-15]5.0%52.35632026-03-31
Net share issuance, one year(4.4%)[16-17]0.5%9.64072026-05-22

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Among 497 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month(55.2%)2.2%9hotter than 9 of 100 peers
Distance from 52-week high(60.5%)(30.0%)18closer to its high than 18 of 100 peers
EBIT to enterprise valuenot computable1.5%required accounting or market input is missing
Free cash flow yield13.1%2.7%91pricier than 9 of 100 peers
Book value to price0.410.2368pricier than 32 of 100 peers
Sales to price5.830.3096pricier than 4 of 100 peers
Composite equity issuance, five yearsnot computable3.9%a share count from five years earlier is required
Relative strength against the sector, log excess return(1.09)(0.26)9ahead of 9 of 100 peers

Inputs: market equity $2.6B; free cash flow $340.0M; book equity $1.1B; sales $15.1B; debt $2.3B; cash $2.1B[18].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: 6 of 9, period end 2026-03-31
Return on assets above zero1.9%✓ pass[6,8]
Operating cash flow above zero$948.0M✓ pass[7]
Return on assets improved(0.5 pts)✗ fail[6,8,14,19]
Operating cash flow exceeds net income$750.0M✓ pass[6-7]
Long-term leverage fell6.3 pts✗ fail[1,8,14,20-21]
Current ratio improved(19.1 pts)✗ fail[9-10,22-23]
No new shares issued(4.4%)✓ pass[16-17]
Gross margin improved0.9 pts✓ pass[2,5,11,24]
Asset turnover improved2.2 pts✓ pass[2,8,11,14]
Cash, filings, liquidity
Cash and equivalents$2.1B[25]
Operating cash flow, four quarters$762.0M[7,25-29]
Months of runwaynot finite
trailing operating cash flow is nonnegative, so runway is not finite
Late filings, two years1
NT 10-K or NT 10-Q
Days since last periodic filing65
10-Q received Aug 5, 2026
Median daily dollar volume$46.1M
63 sessions
Days since newest grade input133

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$12.6B2026-03-312026-05-2910-Kfiling · viewer · series
2revenueus-gaap:Revenues$15.1B2026-03-312026-05-2910-Kfiling · viewer · series
3cashus-gaap:CashAndCashEquivalentsAtCarryingValue$2.6B2026-03-312026-05-2910-Kfiling · viewer · series
4total debtus-gaap:LongTermDebtAndCapitalLeaseObligations$2.3B2026-03-312026-05-2910-Kfiling · viewer · series
5cost of revenueus-gaap:CostOfRevenue$11.8B2026-03-312026-05-2910-Kfiling · viewer · series
6net incomeus-gaap:ProfitLoss$198.0M2026-03-312026-05-2910-Kfiling · viewer · series
7operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$948.0M2026-03-312026-05-2910-Kfiling · viewer · series
8assetsus-gaap:Assets$10.5B2025-03-312026-05-2910-Kfiling · viewer · series
9current assetsus-gaap:AssetsCurrent$5.5B2026-03-312026-05-2910-Kfiling · viewer · series
10current liabilitiesus-gaap:LiabilitiesCurrent$6.3B2026-03-312026-05-2910-Kfiling · viewer · series
11revenueus-gaap:Revenues$15.1B2025-03-312026-05-2910-Kfiling · viewer · series
12revenueus-gaap:Revenues$16.1B2024-03-312026-05-2910-Kfiling · viewer · series
13revenueus-gaap:Revenues$17.0B2023-03-312026-02-1710-K/Afiling · viewer · series
14assetsus-gaap:Assets$10.6B2024-03-312026-02-1710-K/Afiling · viewer · series
15assetsus-gaap:Assets$11.5B2023-03-312024-05-3010-Kfiling · viewer · series
16shares outstandingdei:EntityCommonStockSharesOutstanding219,918,1962026-05-222026-05-2910-Kfiling · viewer · series
17shares outstandingdei:EntityCommonStockSharesOutstanding229,944,5662025-05-232026-02-1710-K/Afiling · viewer · series
18shares outstandingdei:EntityCommonStockSharesOutstanding217,818,2632026-07-292026-08-0510-Qfiling · viewer · series
19net incomeus-gaap:ProfitLoss$252.0M2025-03-312026-05-2910-Kfiling · viewer · series
20long term debtus-gaap:LongTermDebtNoncurrent$3.9B2026-03-312026-05-2910-Kfiling · viewer · series
21long term debtus-gaap:LongTermDebtNoncurrent$2.9B2025-03-312026-05-2910-Kfiling · viewer · series
22current assetsus-gaap:AssetsCurrent$4.6B2025-03-312026-05-2910-Kfiling · viewer · series
23current liabilitiesus-gaap:LiabilitiesCurrent$4.3B2025-03-312026-05-2910-Kfiling · viewer · series
24cost of revenueus-gaap:CostOfRevenue$11.9B2025-03-312026-05-2910-Kfiling · viewer · series
25cashus-gaap:CashAndCashEquivalentsAtCarryingValue$2.1B2026-06-302026-08-0510-Qfiling · viewer · series
26operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$310.0M2026-06-302026-08-0510-Qfiling · viewer · series
27operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$450.0M2025-12-312026-02-1710-Qfiling · viewer · series
28operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities$22.0M2025-09-302025-11-0510-Qfiling · viewer · series
29operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$124.0M2025-06-302026-08-0510-Qfiling · viewer · series

Limitations [top]

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Source
GitHub · ezrakruger.cc
Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026