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Side-by-side financial comparison of Expeditors International (EXPD) and Kyndryl Holdings, Inc. (KD). Click either name above to swap in a different company.
Kyndryl Holdings, Inc. is the larger business by last-quarter revenue ($3.9B vs $2.9B, roughly 1.4× Expeditors International). Expeditors International runs the higher net margin — 7.0% vs 1.5%, a 5.6% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (3.1% vs -3.3%). Expeditors International produced more free cash flow last quarter ($270.3M vs $208.0M). Over the past eight quarters, Expeditors International's revenue compounded faster (13.8% CAGR vs 0.1%).
Expeditors International of Washington, Inc. is an American Fortune 500 service-based logistics company with headquarters in Bellevue, Washington. Expeditors generates highly optimized and customized supply chain solutions for clients with unified technology systems integrated through a global network of over 340+ locations in 100+ countries on six continents.
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.
EXPD vs KD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.9B | $3.9B |
| Net Profit | $200.7M | $57.0M |
| Gross Margin | — | 21.8% |
| Operating Margin | 8.8% | 2.4% |
| Net Margin | 7.0% | 1.5% |
| Revenue YoY | -3.3% | 3.1% |
| Net Profit YoY | -14.9% | -73.5% |
| EPS (diluted) | $1.50 | $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 | $2.9B | $3.9B | ||
| Q3 25 | $2.9B | $3.7B | ||
| Q2 25 | $2.7B | $3.7B | ||
| Q1 25 | $2.7B | $3.8B | ||
| Q4 24 | $3.0B | $3.7B | ||
| Q3 24 | $3.0B | $3.8B | ||
| Q2 24 | $2.4B | $3.7B | ||
| Q1 24 | $2.2B | $3.9B |
| Q4 25 | $200.7M | $57.0M | ||
| Q3 25 | $222.3M | $68.0M | ||
| Q2 25 | $183.6M | $56.0M | ||
| Q1 25 | $203.8M | $69.0M | ||
| Q4 24 | $235.9M | $215.0M | ||
| Q3 24 | $229.6M | $-43.0M | ||
| Q2 24 | $175.5M | $11.0M | ||
| Q1 24 | $169.2M | $-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 | 8.8% | 2.4% | ||
| Q3 25 | 10.0% | 2.6% | ||
| Q2 25 | 9.3% | 2.5% | ||
| Q1 25 | 10.0% | 3.1% | ||
| Q4 24 | 10.2% | 6.9% | ||
| Q3 24 | 10.1% | -0.1% | ||
| Q2 24 | 9.2% | 1.7% | ||
| Q1 24 | 9.7% | -0.1% |
| Q4 25 | 7.0% | 1.5% | ||
| Q3 25 | 7.7% | 1.8% | ||
| Q2 25 | 6.9% | 1.5% | ||
| Q1 25 | 7.6% | 1.8% | ||
| Q4 24 | 8.0% | 5.7% | ||
| Q3 24 | 7.7% | -1.1% | ||
| Q2 24 | 7.2% | 0.3% | ||
| Q1 24 | 7.7% | -1.2% |
| Q4 25 | $1.50 | $0.25 | ||
| Q3 25 | $1.64 | $0.29 | ||
| Q2 25 | $1.34 | $0.23 | ||
| Q1 25 | $1.47 | $0.30 | ||
| Q4 24 | $1.68 | $0.89 | ||
| Q3 24 | $1.63 | $-0.19 | ||
| Q2 24 | $1.24 | $0.05 | ||
| Q1 24 | $1.17 | $-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 | $1.3B | $1.3B |
| Total DebtLower is stronger | — | $2.3B |
| Stockholders' EquityBook value | $2.4B | $1.2B |
| Total Assets | $4.9B | $11.3B |
| Debt / EquityLower = less leverage | — | 1.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $1.2B | $1.5B | ||
| Q1 25 | $1.3B | $1.8B | ||
| Q4 24 | $1.1B | $1.5B | ||
| Q3 24 | $1.3B | $1.3B | ||
| Q2 24 | $1.3B | $1.3B | ||
| Q1 24 | $1.4B | $1.6B |
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $3.1B |
| Q4 25 | $2.4B | $1.2B | ||
| Q3 25 | $2.3B | $1.2B | ||
| Q2 25 | $2.2B | $1.2B | ||
| Q1 25 | $2.3B | $1.2B | ||
| Q4 24 | $2.2B | $1.1B | ||
| Q3 24 | $2.4B | $1.1B | ||
| Q2 24 | $2.2B | $996.0M | ||
| Q1 24 | $2.2B | $1.0B |
| Q4 25 | $4.9B | $11.3B | ||
| Q3 25 | $4.8B | $11.2B | ||
| Q2 25 | $4.8B | $11.5B | ||
| Q1 25 | $4.8B | $10.5B | ||
| Q4 24 | $4.8B | $9.9B | ||
| Q3 24 | $5.2B | $10.4B | ||
| Q2 24 | $4.8B | $10.2B | ||
| Q1 24 | $4.5B | $10.6B |
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 2.45× | ||
| Q2 25 | — | 2.44× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 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 | $283.3M | $428.0M |
| Free Cash FlowOCF − Capex | $270.3M | $208.0M |
| FCF MarginFCF / Revenue | 9.5% | 5.4% |
| Capex IntensityCapex / Revenue | 0.5% | 5.7% |
| Cash ConversionOCF / Net Profit | 1.41× | 7.51× |
| TTM Free Cash FlowTrailing 4 quarters | $953.4M | $299.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $283.3M | $428.0M | ||
| Q3 25 | $201.4M | $146.0M | ||
| Q2 25 | $179.2M | $-124.0M | ||
| Q1 25 | $342.6M | $581.0M | ||
| Q4 24 | $249.7M | $260.0M | ||
| Q3 24 | $90.0M | $149.0M | ||
| Q2 24 | $126.8M | $-48.0M | ||
| Q1 24 | $256.9M | $145.0M |
| Q4 25 | $270.3M | $208.0M | ||
| Q3 25 | $190.3M | $17.0M | ||
| Q2 25 | $163.3M | $-267.0M | ||
| Q1 25 | $329.5M | $341.0M | ||
| Q4 24 | $239.7M | $151.0M | ||
| Q3 24 | $77.7M | $15.0M | ||
| Q2 24 | $118.8M | $-170.0M | ||
| Q1 24 | $246.7M | $-57.0M |
| Q4 25 | 9.5% | 5.4% | ||
| Q3 25 | 6.6% | 0.5% | ||
| Q2 25 | 6.2% | -7.1% | ||
| Q1 25 | 12.4% | 9.0% | ||
| Q4 24 | 8.1% | 4.0% | ||
| Q3 24 | 2.6% | 0.4% | ||
| Q2 24 | 4.9% | -4.5% | ||
| Q1 24 | 11.2% | -1.5% |
| Q4 25 | 0.5% | 5.7% | ||
| Q3 25 | 0.4% | 3.5% | ||
| Q2 25 | 0.6% | 3.8% | ||
| Q1 25 | 0.5% | 6.3% | ||
| Q4 24 | 0.3% | 2.9% | ||
| Q3 24 | 0.4% | 3.6% | ||
| Q2 24 | 0.3% | 3.3% | ||
| Q1 24 | 0.5% | 5.2% |
| Q4 25 | 1.41× | 7.51× | ||
| Q3 25 | 0.91× | 2.15× | ||
| Q2 25 | 0.98× | -2.21× | ||
| Q1 25 | 1.68× | 8.42× | ||
| Q4 24 | 1.06× | 1.21× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.72× | -4.36× | ||
| Q1 24 | 1.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
