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Side-by-side financial comparison of Kyndryl Holdings, Inc. (KD) and Lennar (LEN). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($6.6B vs $3.8B, roughly 1.8× Kyndryl Holdings, Inc.). Lennar runs the higher net margin — 3.5% vs 0.5%, a 3.0% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (0.0% vs -13.3%). Over the past eight quarters, Kyndryl Holdings, Inc.'s revenue compounded faster (0.4% CAGR vs -13.1%).
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.
Lennar Corporation is an American home construction company based in Miami-Dade County, Florida. As of 2025, it is the second-largest home construction company in the United States based on the number of homes sold. Lennar has investments in multifamily and single-family residential rental properties, luxury development, property technology with LenX, and mortgage lending from Lennar Mortgage.
KD vs LEN — Head-to-Head
Income Statement — Q4 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $6.6B |
| Net Profit | $17.0M | $229.4M |
| Gross Margin | — | — |
| Operating Margin | 3.5% | — |
| Net Margin | 0.5% | 3.5% |
| Revenue YoY | 0.0% | -13.3% |
| Net Profit YoY | -75.0% | -55.8% |
| EPS (diluted) | $0.08 | $0.93 |
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.
| Q1 26 | $3.8B | $6.6B | ||
| Q4 25 | $3.9B | $9.4B | ||
| Q3 25 | $3.7B | $8.8B | ||
| Q2 25 | $3.7B | $8.4B | ||
| Q1 25 | $3.8B | $7.6B | ||
| Q4 24 | $3.7B | $9.9B | ||
| Q3 24 | $3.8B | $9.4B | ||
| Q2 24 | $3.7B | $8.8B |
| Q1 26 | $17.0M | $229.4M | ||
| Q4 25 | $57.0M | $490.2M | ||
| Q3 25 | $68.0M | $591.0M | ||
| Q2 25 | $56.0M | $477.4M | ||
| Q1 25 | $69.0M | $519.5M | ||
| Q4 24 | $215.0M | $1.1B | ||
| Q3 24 | $-43.0M | $1.2B | ||
| Q2 24 | $11.0M | $954.3M |
| Q1 26 | — | — | ||
| 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 26 | 3.5% | — | ||
| Q4 25 | 2.4% | 7.3% | ||
| Q3 25 | 2.6% | 9.0% | ||
| Q2 25 | 2.5% | 7.7% | ||
| Q1 25 | 3.1% | 9.1% | ||
| Q4 24 | 6.9% | 14.7% | ||
| Q3 24 | -0.1% | 16.3% | ||
| Q2 24 | 1.7% | 14.4% |
| Q1 26 | 0.5% | 3.5% | ||
| Q4 25 | 1.5% | 5.2% | ||
| Q3 25 | 1.8% | 6.7% | ||
| Q2 25 | 1.5% | 5.7% | ||
| Q1 25 | 1.8% | 6.8% | ||
| Q4 24 | 5.7% | 11.0% | ||
| Q3 24 | -1.1% | 12.3% | ||
| Q2 24 | 0.3% | 10.9% |
| Q1 26 | $0.08 | $0.93 | ||
| Q4 25 | $0.25 | — | ||
| Q3 25 | $0.29 | $2.29 | ||
| Q2 25 | $0.23 | $1.81 | ||
| Q1 25 | $0.30 | $1.96 | ||
| Q4 24 | $0.89 | $4.03 | ||
| Q3 24 | $-0.19 | $4.26 | ||
| Q2 24 | $0.05 | $3.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.6B | $2.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $21.9B |
| Total Assets | — | $33.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.6B | $2.1B | ||
| Q4 25 | $1.3B | $3.8B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.5B | $4.9B | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $5.9B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.1B | $4.2B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
| Q1 26 | — | $21.9B | ||
| Q4 25 | $1.2B | $22.0B | ||
| Q3 25 | $1.2B | $22.6B | ||
| Q2 25 | $1.2B | $22.6B | ||
| Q1 25 | $1.2B | $22.7B | ||
| Q4 24 | $1.1B | $27.9B | ||
| Q3 24 | $1.1B | $27.4B | ||
| Q2 24 | $996.0M | $26.9B |
| Q1 26 | — | $33.2B | ||
| Q4 25 | $11.3B | $34.4B | ||
| Q3 25 | $11.2B | $34.9B | ||
| Q2 25 | $11.5B | $34.4B | ||
| Q1 25 | $10.5B | $35.0B | ||
| Q4 24 | $9.9B | $41.3B | ||
| Q3 24 | $10.4B | $39.7B | ||
| Q2 24 | $10.2B | $38.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.92× | 0.27× | ||
| Q3 25 | 2.45× | — | ||
| Q2 25 | 2.44× | — | ||
| Q1 25 | 2.50× | — | ||
| Q4 24 | 2.81× | 0.15× | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | 3.12× | — |
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 | $948.0M | — |
| Free Cash FlowOCF − Capex | $2.0B | — |
| FCF MarginFCF / Revenue | 53.8% | — |
| Capex IntensityCapex / Revenue | 16.1% | — |
| Cash ConversionOCF / Net Profit | 55.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $948.0M | — | ||
| Q4 25 | $428.0M | $1.8B | ||
| Q3 25 | $146.0M | $-158.6M | ||
| Q2 25 | $-124.0M | $-1.1B | ||
| Q1 25 | $581.0M | $-289.0M | ||
| Q4 24 | $260.0M | $974.5M | ||
| Q3 24 | $149.0M | $819.2M | ||
| Q2 24 | $-48.0M | $241.8M |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $208.0M | $1.7B | ||
| Q3 25 | $17.0M | $-190.8M | ||
| Q2 25 | $-267.0M | $-1.1B | ||
| Q1 25 | $341.0M | $-345.1M | ||
| Q4 24 | $151.0M | $933.1M | ||
| Q3 24 | $15.0M | $800.8M | ||
| Q2 24 | $-170.0M | $203.0M |
| Q1 26 | 53.8% | — | ||
| Q4 25 | 5.4% | 17.9% | ||
| Q3 25 | 0.5% | -2.2% | ||
| Q2 25 | -7.1% | -13.3% | ||
| Q1 25 | 9.0% | -4.5% | ||
| Q4 24 | 4.0% | 9.4% | ||
| Q3 24 | 0.4% | 8.5% | ||
| Q2 24 | -4.5% | 2.3% |
| Q1 26 | 16.1% | — | ||
| Q4 25 | 5.7% | 0.9% | ||
| Q3 25 | 3.5% | 0.4% | ||
| Q2 25 | 3.8% | 0.2% | ||
| Q1 25 | 6.3% | 0.7% | ||
| Q4 24 | 2.9% | 0.4% | ||
| Q3 24 | 3.6% | 0.2% | ||
| Q2 24 | 3.3% | 0.4% |
| Q1 26 | 55.76× | — | ||
| Q4 25 | 7.51× | 3.59× | ||
| Q3 25 | 2.15× | -0.27× | ||
| Q2 25 | -2.21× | -2.29× | ||
| Q1 25 | 8.42× | -0.56× | ||
| Q4 24 | 1.21× | 0.89× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | -4.36× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KD
| Principal Markets | $1.3B | 34% |
| United States | $1.0B | 27% |
| Strategic Markets | $916.0M | 24% |
| Japan | $556.0M | 15% |
LEN
| Homebuilding | $6.3B | 95% |
| Financial Services | $215.6M | 3% |
| Multifamily | $82.5M | 1% |
| Lennar Other | $22.9M | 0% |
