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Side-by-side financial comparison of Kyndryl Holdings, Inc. (KD) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($4.6B vs $3.8B, roughly 1.2× Kyndryl Holdings, Inc.). Principal Financial Group runs the higher net margin — 11.3% vs 0.5%, a 10.8% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (0.0% vs -3.7%). Over the past eight quarters, Principal Financial Group's revenue compounded faster (6.3% CAGR vs 0.4%).
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.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
KD vs PFG — Head-to-Head
Income Statement — Q4 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $4.6B |
| Net Profit | $17.0M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | 3.5% | — |
| Net Margin | 0.5% | 11.3% |
| Revenue YoY | 0.0% | -3.7% |
| Net Profit YoY | -75.0% | -42.9% |
| EPS (diluted) | $0.08 | $2.30 |
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 | — | ||
| Q4 25 | $3.9B | $4.6B | ||
| Q3 25 | $3.7B | $3.7B | ||
| Q2 25 | $3.7B | $3.7B | ||
| Q1 25 | $3.8B | $3.7B | ||
| Q4 24 | $3.7B | $4.8B | ||
| Q3 24 | $3.8B | $3.0B | ||
| Q2 24 | $3.7B | $4.3B |
| Q1 26 | $17.0M | — | ||
| Q4 25 | $57.0M | $517.0M | ||
| Q3 25 | $68.0M | $213.8M | ||
| Q2 25 | $56.0M | $406.2M | ||
| Q1 25 | $69.0M | $48.1M | ||
| Q4 24 | $215.0M | $905.4M | ||
| Q3 24 | $-43.0M | $-220.0M | ||
| Q2 24 | $11.0M | $353.1M |
| 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% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 6.9% | — | ||
| Q3 24 | -0.1% | — | ||
| Q2 24 | 1.7% | — |
| Q1 26 | 0.5% | — | ||
| Q4 25 | 1.5% | 11.3% | ||
| Q3 25 | 1.8% | 5.8% | ||
| Q2 25 | 1.5% | 11.1% | ||
| Q1 25 | 1.8% | 1.3% | ||
| Q4 24 | 5.7% | 19.1% | ||
| Q3 24 | -1.1% | -7.3% | ||
| Q2 24 | 0.3% | 8.2% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.25 | $2.30 | ||
| Q3 25 | $0.29 | $0.95 | ||
| Q2 25 | $0.23 | $1.79 | ||
| Q1 25 | $0.30 | $0.21 | ||
| Q4 24 | $0.89 | $3.92 | ||
| Q3 24 | $-0.19 | $-0.95 | ||
| Q2 24 | $0.05 | $1.49 |
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 | $4.4B |
| Total DebtLower is stronger | — | $3.9B |
| Stockholders' EquityBook value | — | $11.9B |
| Total Assets | — | $341.4B |
| Debt / EquityLower = less leverage | — | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.6B | — | ||
| Q4 25 | $1.3B | $4.4B | ||
| Q3 25 | $1.3B | $5.1B | ||
| Q2 25 | $1.5B | $3.7B | ||
| Q1 25 | $1.8B | $3.9B | ||
| Q4 24 | $1.5B | $4.2B | ||
| Q3 24 | $1.3B | $6.2B | ||
| Q2 24 | $1.3B | $4.8B |
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $3.9B | ||
| Q3 25 | $3.0B | $3.9B | ||
| Q2 25 | $3.0B | $3.9B | ||
| Q1 25 | $3.0B | $4.3B | ||
| Q4 24 | $3.1B | $4.0B | ||
| Q3 24 | $3.1B | $3.9B | ||
| Q2 24 | $3.1B | $3.9B |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $11.9B | ||
| Q3 25 | $1.2B | $11.7B | ||
| Q2 25 | $1.2B | $11.4B | ||
| Q1 25 | $1.2B | $11.2B | ||
| Q4 24 | $1.1B | $11.1B | ||
| Q3 24 | $1.1B | $11.2B | ||
| Q2 24 | $996.0M | $11.0B |
| Q1 26 | — | — | ||
| Q4 25 | $11.3B | $341.4B | ||
| Q3 25 | $11.2B | $334.5B | ||
| Q2 25 | $11.5B | $323.1B | ||
| Q1 25 | $10.5B | $313.0B | ||
| Q4 24 | $9.9B | $313.7B | ||
| Q3 24 | $10.4B | $322.9B | ||
| Q2 24 | $10.2B | $308.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.92× | 0.33× | ||
| Q3 25 | 2.45× | 0.34× | ||
| Q2 25 | 2.44× | 0.34× | ||
| Q1 25 | 2.50× | 0.39× | ||
| Q4 24 | 2.81× | 0.36× | ||
| Q3 24 | 2.92× | 0.35× | ||
| Q2 24 | 3.12× | 0.36× |
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 | $1.7B |
| Free Cash FlowOCF − Capex | $2.0B | — |
| FCF MarginFCF / Revenue | 53.8% | — |
| Capex IntensityCapex / Revenue | 16.1% | — |
| Cash ConversionOCF / Net Profit | 55.76× | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | $2.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $948.0M | — | ||
| Q4 25 | $428.0M | $1.7B | ||
| Q3 25 | $146.0M | $1.0B | ||
| Q2 25 | $-124.0M | $811.9M | ||
| Q1 25 | $581.0M | $977.3M | ||
| Q4 24 | $260.0M | $1.5B | ||
| Q3 24 | $149.0M | $1.1B | ||
| Q2 24 | $-48.0M | $1.4B |
| Q1 26 | $2.0B | — | ||
| 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 26 | 53.8% | — | ||
| 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 26 | 16.1% | — | ||
| 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 26 | 55.76× | — | ||
| Q4 25 | 7.51× | 3.37× | ||
| Q3 25 | 2.15× | 4.70× | ||
| Q2 25 | -2.21× | 2.00× | ||
| Q1 25 | 8.42× | 20.32× | ||
| Q4 24 | 1.21× | 1.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.36× | 4.05× |
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% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
