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Side-by-side financial comparison of Consolidated Edison (ED) and Kyndryl Holdings, Inc. (KD). Click either name above to swap in a different company.
Consolidated Edison is the larger business by last-quarter revenue ($4.0B vs $3.9B, roughly 1.0× Kyndryl Holdings, Inc.). Consolidated Edison runs the higher net margin — 7.5% vs 1.5%, a 6.0% gap on every dollar of revenue. On growth, Consolidated Edison posted the faster year-over-year revenue change (8.2% vs 3.1%). Over the past eight quarters, Kyndryl Holdings, Inc.'s revenue compounded faster (0.1% CAGR vs -3.7%).
Consolidated Edison, Inc., commonly known as Con Edison or ConEd, is an energy company based in New York City. It is one of the largest investor-owned energy companies in the United States, with approximately $15.26 billion in annual revenues as of 2024, and over $70 billion in assets. The company provides a wide range of energy-related products and services to its customers through its subsidiaries:Consolidated Edison Company of New York, Inc.
Kyndryl Holdings, Inc. is an American multinational information technology infrastructure services provider, headquartered in New York City and created from the spin-off of IBM's infrastructure services business in 2021. The company designs, builds, manages and develops large-scale information systems. The company also has business advisory services. It is currently the world's largest IT infrastructure services provider, and the fifth-largest consulting provider.
ED vs KD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.0B | $3.9B |
| Net Profit | $298.0M | $57.0M |
| Gross Margin | — | 21.8% |
| Operating Margin | 12.3% | 2.4% |
| Net Margin | 7.5% | 1.5% |
| Revenue YoY | 8.2% | 3.1% |
| Net Profit YoY | -3.9% | -73.5% |
| EPS (diluted) | $0.81 | $0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $4.0B | $3.9B | ||
| Q3 25 | $4.6B | $3.7B | ||
| Q2 25 | $3.6B | $3.7B | ||
| Q1 25 | $4.9B | $3.8B | ||
| Q4 24 | $3.7B | $3.7B | ||
| Q3 24 | $4.2B | $3.8B | ||
| Q2 24 | $3.3B | $3.7B | ||
| Q1 24 | $4.3B | $3.9B |
| Q4 25 | $298.0M | $57.0M | ||
| Q3 25 | $688.0M | $68.0M | ||
| Q2 25 | $246.0M | $56.0M | ||
| Q1 25 | $791.0M | $69.0M | ||
| Q4 24 | $310.0M | $215.0M | ||
| Q3 24 | $588.0M | $-43.0M | ||
| Q2 24 | $202.0M | $11.0M | ||
| Q1 24 | $720.0M | $-45.0M |
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | 21.5% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | — | 20.4% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.5% | ||
| Q1 24 | — | 18.6% |
| Q4 25 | 12.3% | 2.4% | ||
| Q3 25 | 21.2% | 2.6% | ||
| Q2 25 | 9.8% | 2.5% | ||
| Q1 25 | 23.0% | 3.1% | ||
| Q4 24 | 13.0% | 6.9% | ||
| Q3 24 | 20.4% | -0.1% | ||
| Q2 24 | 9.7% | 1.7% | ||
| Q1 24 | 23.6% | -0.1% |
| Q4 25 | 7.5% | 1.5% | ||
| Q3 25 | 15.1% | 1.8% | ||
| Q2 25 | 6.8% | 1.5% | ||
| Q1 25 | 16.2% | 1.8% | ||
| Q4 24 | 8.5% | 5.7% | ||
| Q3 24 | 13.9% | -1.1% | ||
| Q2 24 | 6.1% | 0.3% | ||
| Q1 24 | 16.8% | -1.2% |
| Q4 25 | $0.81 | $0.25 | ||
| Q3 25 | $1.90 | $0.29 | ||
| Q2 25 | $0.68 | $0.23 | ||
| Q1 25 | $2.25 | $0.30 | ||
| Q4 24 | $0.89 | $0.89 | ||
| Q3 24 | $1.69 | $-0.19 | ||
| Q2 24 | $0.58 | $0.05 | ||
| Q1 24 | $2.08 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $1.3B |
| Total DebtLower is stronger | $25.8B | $2.3B |
| Stockholders' EquityBook value | $24.2B | $1.2B |
| Total Assets | $74.6B | $11.3B |
| Debt / EquityLower = less leverage | 1.07× | 1.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $1.3B | ||
| Q3 25 | $181.0M | $1.3B | ||
| Q2 25 | $1.5B | $1.5B | ||
| Q1 25 | $360.0M | $1.8B | ||
| Q4 24 | $1.3B | $1.5B | ||
| Q3 24 | $93.0M | $1.3B | ||
| Q2 24 | $1.5B | $1.3B | ||
| Q1 24 | $169.0M | $1.6B |
| Q4 25 | $25.8B | $2.3B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | $24.7B | $3.1B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $3.1B |
| Q4 25 | $24.2B | $1.2B | ||
| Q3 25 | $24.2B | $1.2B | ||
| Q2 25 | $23.8B | $1.2B | ||
| Q1 25 | $23.8B | $1.2B | ||
| Q4 24 | $22.0B | $1.1B | ||
| Q3 24 | $21.9B | $1.1B | ||
| Q2 24 | $21.6B | $996.0M | ||
| Q1 24 | $21.6B | $1.0B |
| Q4 25 | $74.6B | $11.3B | ||
| Q3 25 | $71.8B | $11.2B | ||
| Q2 25 | $71.5B | $11.5B | ||
| Q1 25 | $70.7B | $10.5B | ||
| Q4 24 | $70.6B | $9.9B | ||
| Q3 24 | $68.6B | $10.4B | ||
| Q2 24 | $67.9B | $10.2B | ||
| Q1 24 | $66.7B | $10.6B |
| Q4 25 | 1.07× | 1.92× | ||
| Q3 25 | — | 2.45× | ||
| Q2 25 | — | 2.44× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | 1.13× | 2.81× | ||
| Q3 24 | — | 2.92× | ||
| Q2 24 | — | 3.12× | ||
| Q1 24 | — | 3.07× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.5B | $428.0M |
| Free Cash FlowOCF − Capex | — | $208.0M |
| FCF MarginFCF / Revenue | — | 5.4% |
| Capex IntensityCapex / Revenue | — | 5.7% |
| Cash ConversionOCF / Net Profit | 4.97× | 7.51× |
| TTM Free Cash FlowTrailing 4 quarters | — | $299.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5B | $428.0M | ||
| Q3 25 | $504.0M | $146.0M | ||
| Q2 25 | $2.0B | $-124.0M | ||
| Q1 25 | $837.0M | $581.0M | ||
| Q4 24 | $1.3B | $260.0M | ||
| Q3 24 | $392.0M | $149.0M | ||
| Q2 24 | $1.3B | $-48.0M | ||
| Q1 24 | $573.0M | $145.0M |
| Q4 25 | — | $208.0M | ||
| Q3 25 | — | $17.0M | ||
| Q2 25 | — | $-267.0M | ||
| Q1 25 | — | $341.0M | ||
| Q4 24 | — | $151.0M | ||
| Q3 24 | — | $15.0M | ||
| Q2 24 | — | $-170.0M | ||
| Q1 24 | — | $-57.0M |
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | -7.1% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | -4.5% | ||
| Q1 24 | — | -1.5% |
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | 4.97× | 7.51× | ||
| Q3 25 | 0.73× | 2.15× | ||
| Q2 25 | 8.04× | -2.21× | ||
| Q1 25 | 1.06× | 8.42× | ||
| Q4 24 | 4.23× | 1.21× | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 6.63× | -4.36× | ||
| Q1 24 | 0.80× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ED
| Electricity | $2.9B | 73% |
| Oil And Gas Purchased | $923.0M | 23% |
| Steam Plant | $189.0M | 5% |
| Con Edison Transmission | $1.0M | 0% |
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
