vs
Side-by-side financial comparison of Kyndryl Holdings, Inc. (KD) and Murphy USA Inc. (MUSA). Click either name above to swap in a different company.
Murphy USA Inc. is the larger business by last-quarter revenue ($4.7B vs $3.9B, roughly 1.2× Kyndryl Holdings, Inc.). Murphy USA Inc. runs the higher net margin — 3.0% vs 1.5%, a 1.5% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (3.1% vs 0.7%). Kyndryl Holdings, Inc. produced more free cash flow last quarter ($208.0M vs $128.8M). Over the past eight quarters, Kyndryl Holdings, Inc.'s revenue compounded faster (0.1% CAGR vs -1.0%).
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.
Murphy USA is an American corporation based in El Dorado, Arkansas that operates a chain of retail gas stations that are primarily located in proximity to Walmart stores. It was founded as a spin-off of Murphy Oil in 2013.
KD vs MUSA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.9B | $4.7B |
| Net Profit | $57.0M | $141.9M |
| Gross Margin | 21.8% | — |
| Operating Margin | 2.4% | 4.4% |
| Net Margin | 1.5% | 3.0% |
| Revenue YoY | 3.1% | 0.7% |
| Net Profit YoY | -73.5% | -0.4% |
| EPS (diluted) | $0.25 | $7.35 |
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 | $3.9B | $4.7B | ||
| Q3 25 | $3.7B | $5.1B | ||
| Q2 25 | $3.7B | $5.0B | ||
| Q1 25 | $3.8B | $4.5B | ||
| Q4 24 | $3.7B | $4.7B | ||
| Q3 24 | $3.8B | $5.2B | ||
| Q2 24 | $3.7B | $5.5B | ||
| Q1 24 | $3.9B | $4.8B |
| Q4 25 | $57.0M | $141.9M | ||
| Q3 25 | $68.0M | $129.9M | ||
| Q2 25 | $56.0M | $145.6M | ||
| Q1 25 | $69.0M | $53.2M | ||
| Q4 24 | $215.0M | $142.5M | ||
| Q3 24 | $-43.0M | $149.2M | ||
| Q2 24 | $11.0M | $144.8M | ||
| Q1 24 | $-45.0M | $66.0M |
| 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 | 2.4% | 4.4% | ||
| Q3 25 | 2.6% | 3.9% | ||
| Q2 25 | 2.5% | 4.4% | ||
| Q1 25 | 3.1% | 1.9% | ||
| Q4 24 | 6.9% | 4.2% | ||
| Q3 24 | -0.1% | 4.2% | ||
| Q2 24 | 1.7% | 4.0% | ||
| Q1 24 | -0.1% | 2.2% |
| Q4 25 | 1.5% | 3.0% | ||
| Q3 25 | 1.8% | 2.5% | ||
| Q2 25 | 1.5% | 2.9% | ||
| Q1 25 | 1.8% | 1.2% | ||
| Q4 24 | 5.7% | 3.0% | ||
| Q3 24 | -1.1% | 2.8% | ||
| Q2 24 | 0.3% | 2.7% | ||
| Q1 24 | -1.2% | 1.4% |
| Q4 25 | $0.25 | $7.35 | ||
| Q3 25 | $0.29 | $6.76 | ||
| Q2 25 | $0.23 | $7.36 | ||
| Q1 25 | $0.30 | $2.63 | ||
| Q4 24 | $0.89 | $6.87 | ||
| Q3 24 | $-0.19 | $7.20 | ||
| Q2 24 | $0.05 | $6.92 | ||
| Q1 24 | $-0.19 | $3.12 |
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 | $28.9M |
| Total DebtLower is stronger | $2.3B | $2.2B |
| Stockholders' EquityBook value | $1.2B | $623.5M |
| Total Assets | $11.3B | $4.7B |
| Debt / EquityLower = less leverage | 1.92× | 3.47× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $28.9M | ||
| Q3 25 | $1.3B | $42.8M | ||
| Q2 25 | $1.5B | $54.1M | ||
| Q1 25 | $1.8B | $49.4M | ||
| Q4 24 | $1.5B | $47.0M | ||
| Q3 24 | $1.3B | $52.5M | ||
| Q2 24 | $1.3B | $79.8M | ||
| Q1 24 | $1.6B | $56.7M |
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $3.0B | $2.1B | ||
| Q1 25 | $3.0B | $2.0B | ||
| Q4 24 | $3.1B | $1.8B | ||
| Q3 24 | $3.1B | $1.8B | ||
| Q2 24 | $3.1B | $1.8B | ||
| Q1 24 | $3.1B | $1.8B |
| Q4 25 | $1.2B | $623.5M | ||
| Q3 25 | $1.2B | $546.0M | ||
| Q2 25 | $1.2B | $646.1M | ||
| Q1 25 | $1.2B | $719.6M | ||
| Q4 24 | $1.1B | $840.1M | ||
| Q3 24 | $1.1B | $830.1M | ||
| Q2 24 | $996.0M | $811.3M | ||
| Q1 24 | $1.0B | $781.6M |
| Q4 25 | $11.3B | $4.7B | ||
| Q3 25 | $11.2B | $4.7B | ||
| Q2 25 | $11.5B | $4.6B | ||
| Q1 25 | $10.5B | $4.5B | ||
| Q4 24 | $9.9B | $4.5B | ||
| Q3 24 | $10.4B | $4.4B | ||
| Q2 24 | $10.2B | $4.4B | ||
| Q1 24 | $10.6B | $4.3B |
| Q4 25 | 1.92× | 3.47× | ||
| Q3 25 | 2.45× | 4.07× | ||
| Q2 25 | 2.44× | 3.20× | ||
| Q1 25 | 2.50× | 2.74× | ||
| Q4 24 | 2.81× | 2.18× | ||
| Q3 24 | 2.92× | 2.19× | ||
| Q2 24 | 3.12× | 2.20× | ||
| Q1 24 | 3.07× | 2.28× |
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 | $428.0M | $245.5M |
| Free Cash FlowOCF − Capex | $208.0M | $128.8M |
| FCF MarginFCF / Revenue | 5.4% | 2.7% |
| Capex IntensityCapex / Revenue | 5.7% | 2.5% |
| Cash ConversionOCF / Net Profit | 7.51× | 1.73× |
| TTM Free Cash FlowTrailing 4 quarters | $299.0M | $374.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $245.5M | ||
| Q3 25 | $146.0M | $184.8M | ||
| Q2 25 | $-124.0M | $255.1M | ||
| Q1 25 | $581.0M | $128.5M | ||
| Q4 24 | $260.0M | $248.7M | ||
| Q3 24 | $149.0M | $202.1M | ||
| Q2 24 | $-48.0M | $260.8M | ||
| Q1 24 | $145.0M | $136.0M |
| Q4 25 | $208.0M | $128.8M | ||
| Q3 25 | $17.0M | $67.7M | ||
| Q2 25 | $-267.0M | $137.1M | ||
| Q1 25 | $341.0M | $40.7M | ||
| Q4 24 | $151.0M | $121.7M | ||
| Q3 24 | $15.0M | $65.2M | ||
| Q2 24 | $-170.0M | $142.8M | ||
| Q1 24 | $-57.0M | $59.8M |
| Q4 25 | 5.4% | 2.7% | ||
| Q3 25 | 0.5% | 1.3% | ||
| Q2 25 | -7.1% | 2.7% | ||
| Q1 25 | 9.0% | 0.9% | ||
| Q4 24 | 4.0% | 2.6% | ||
| Q3 24 | 0.4% | 1.2% | ||
| Q2 24 | -4.5% | 2.6% | ||
| Q1 24 | -1.5% | 1.2% |
| Q4 25 | 5.7% | 2.5% | ||
| Q3 25 | 3.5% | 2.3% | ||
| Q2 25 | 3.8% | 2.4% | ||
| Q1 25 | 6.3% | 1.9% | ||
| Q4 24 | 2.9% | 2.7% | ||
| Q3 24 | 3.6% | 2.6% | ||
| Q2 24 | 3.3% | 2.2% | ||
| Q1 24 | 5.2% | 1.6% |
| Q4 25 | 7.51× | 1.73× | ||
| Q3 25 | 2.15× | 1.42× | ||
| Q2 25 | -2.21× | 1.75× | ||
| Q1 25 | 8.42× | 2.42× | ||
| Q4 24 | 1.21× | 1.75× | ||
| Q3 24 | — | 1.35× | ||
| Q2 24 | -4.36× | 1.80× | ||
| Q1 24 | — | 2.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
MUSA
| Product Sales Petroleum Retail | $3.3B | 69% |
| Merchandise | $1.1B | 23% |
| Product Sales Petroleum Wholesale | $327.9M | 7% |
| Other | $57.0M | 1% |
| Renewable Identification Numbers | $55.3M | 1% |
| Revenue Other | $1.3M | 0% |
