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Side-by-side financial comparison of GRAPHIC PACKAGING HOLDING CO (GPK) 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 $2.1B, roughly 1.8× GRAPHIC PACKAGING HOLDING CO). GRAPHIC PACKAGING HOLDING CO runs the higher net margin — 3.4% vs 1.5%, a 1.9% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (3.1% vs 0.2%). Over the past eight quarters, Kyndryl Holdings, Inc.'s revenue compounded faster (0.1% CAGR vs -3.5%).
Graphic Packaging International is a Fortune 500 corporation based in Atlanta, Georgia, United States. It designs and manufactures packaging solutions for commercial products. GPI manufactures paperboard and folding cartons for a wide range of popular consumer goods, particularly beverages and packaged food. The company operates paperboard mills in Kalamazoo, Michigan; Macon, Georgia; Middletown, Ohio; Prosperity, South Carolina; Texarkana, Texas; and West Monroe, Louisiana, that use recycled...
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.
GPK vs KD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $2.1B | $3.9B |
| Net Profit | $71.0M | $57.0M |
| Gross Margin | 14.1% | 21.8% |
| Operating Margin | 7.4% | 2.4% |
| Net Margin | 3.4% | 1.5% |
| Revenue YoY | 0.2% | 3.1% |
| Net Profit YoY | -48.6% | -73.5% |
| EPS (diluted) | $0.24 | $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 | $2.1B | $3.9B | ||
| Q3 25 | $2.2B | $3.7B | ||
| Q2 25 | $2.2B | $3.7B | ||
| Q1 25 | $2.1B | $3.8B | ||
| Q4 24 | $2.1B | $3.7B | ||
| Q3 24 | $2.2B | $3.8B | ||
| Q2 24 | $2.2B | $3.7B | ||
| Q1 24 | $2.3B | $3.9B |
| Q4 25 | $71.0M | $57.0M | ||
| Q3 25 | $142.0M | $68.0M | ||
| Q2 25 | $104.0M | $56.0M | ||
| Q1 25 | $127.0M | $69.0M | ||
| Q4 24 | $138.0M | $215.0M | ||
| Q3 24 | $165.0M | $-43.0M | ||
| Q2 24 | $190.0M | $11.0M | ||
| Q1 24 | $165.0M | $-45.0M |
| Q4 25 | 14.1% | 21.8% | ||
| Q3 25 | 19.6% | 21.5% | ||
| Q2 25 | 18.7% | 21.3% | ||
| Q1 25 | 20.6% | 21.7% | ||
| Q4 24 | 21.4% | 20.4% | ||
| Q3 24 | 22.3% | 19.9% | ||
| Q2 24 | 21.2% | 21.5% | ||
| Q1 24 | 23.0% | 18.6% |
| Q4 25 | 7.4% | 2.4% | ||
| Q3 25 | 10.7% | 2.6% | ||
| Q2 25 | 8.8% | 2.5% | ||
| Q1 25 | 10.5% | 3.1% | ||
| Q4 24 | 11.4% | 6.9% | ||
| Q3 24 | 12.6% | -0.1% | ||
| Q2 24 | 14.5% | 1.7% | ||
| Q1 24 | 12.4% | -0.1% |
| Q4 25 | 3.4% | 1.5% | ||
| Q3 25 | 6.5% | 1.8% | ||
| Q2 25 | 4.7% | 1.5% | ||
| Q1 25 | 6.0% | 1.8% | ||
| Q4 24 | 6.6% | 5.7% | ||
| Q3 24 | 7.5% | -1.1% | ||
| Q2 24 | 8.5% | 0.3% | ||
| Q1 24 | 7.3% | -1.2% |
| Q4 25 | $0.24 | $0.25 | ||
| Q3 25 | $0.48 | $0.29 | ||
| Q2 25 | $0.34 | $0.23 | ||
| Q1 25 | $0.42 | $0.30 | ||
| Q4 24 | $0.46 | $0.89 | ||
| Q3 24 | $0.55 | $-0.19 | ||
| Q2 24 | $0.62 | $0.05 | ||
| Q1 24 | $0.53 | $-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 | $261.0M | $1.3B |
| Total DebtLower is stronger | $5.0B | $2.3B |
| Stockholders' EquityBook value | $3.3B | $1.2B |
| Total Assets | $11.8B | $11.3B |
| Debt / EquityLower = less leverage | 1.51× | 1.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $261.0M | $1.3B | ||
| Q3 25 | $120.0M | $1.3B | ||
| Q2 25 | $120.0M | $1.5B | ||
| Q1 25 | $129.0M | $1.8B | ||
| Q4 24 | $157.0M | $1.5B | ||
| Q3 24 | $126.0M | $1.3B | ||
| Q2 24 | $125.0M | $1.3B | ||
| Q1 24 | $136.0M | $1.6B |
| Q4 25 | $5.0B | $2.3B | ||
| Q3 25 | $5.5B | $3.0B | ||
| Q2 25 | $5.4B | $3.0B | ||
| Q1 25 | $5.7B | $3.0B | ||
| Q4 24 | $5.1B | $3.1B | ||
| Q3 24 | $5.4B | $3.1B | ||
| Q2 24 | $4.9B | $3.1B | ||
| Q1 24 | $4.9B | $3.1B |
| Q4 25 | $3.3B | $1.2B | ||
| Q3 25 | $3.3B | $1.2B | ||
| Q2 25 | $3.2B | $1.2B | ||
| Q1 25 | $3.2B | $1.2B | ||
| Q4 24 | $3.0B | $1.1B | ||
| Q3 24 | $3.0B | $1.1B | ||
| Q2 24 | $2.8B | $996.0M | ||
| Q1 24 | $2.9B | $1.0B |
| Q4 25 | $11.8B | $11.3B | ||
| Q3 25 | $11.9B | $11.2B | ||
| Q2 25 | $11.8B | $11.5B | ||
| Q1 25 | $11.5B | $10.5B | ||
| Q4 24 | $11.1B | $9.9B | ||
| Q3 24 | $11.2B | $10.4B | ||
| Q2 24 | $10.8B | $10.2B | ||
| Q1 24 | $11.3B | $10.6B |
| Q4 25 | 1.51× | 1.92× | ||
| Q3 25 | 1.67× | 2.45× | ||
| Q2 25 | 1.68× | 2.44× | ||
| Q1 25 | 1.80× | 2.50× | ||
| Q4 24 | 1.71× | 2.81× | ||
| Q3 24 | 1.79× | 2.92× | ||
| Q2 24 | 1.75× | 3.12× | ||
| Q1 24 | 1.73× | 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 | $521.0M | $428.0M |
| Free Cash FlowOCF − Capex | — | $208.0M |
| FCF MarginFCF / Revenue | — | 5.4% |
| Capex IntensityCapex / Revenue | — | 5.7% |
| Cash ConversionOCF / Net Profit | 7.34× | 7.51× |
| TTM Free Cash FlowTrailing 4 quarters | — | $299.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $521.0M | $428.0M | ||
| Q3 25 | $227.0M | $146.0M | ||
| Q2 25 | $267.0M | $-124.0M | ||
| Q1 25 | $-174.0M | $581.0M | ||
| Q4 24 | $489.0M | $260.0M | ||
| Q3 24 | $187.0M | $149.0M | ||
| Q2 24 | $161.0M | $-48.0M | ||
| Q1 24 | $3.0M | $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 | 7.34× | 7.51× | ||
| Q3 25 | 1.60× | 2.15× | ||
| Q2 25 | 2.57× | -2.21× | ||
| Q1 25 | -1.37× | 8.42× | ||
| Q4 24 | 3.54× | 1.21× | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.85× | -4.36× | ||
| Q1 24 | 0.02× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPK
| Americas Paperboard Packaging | $1.4B | 68% |
| Other | $667.0M | 32% |
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
