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Side-by-side financial comparison of Kyndryl Holdings, Inc. (KD) and Solventum (SOLV). Click either name above to swap in a different company.
Kyndryl Holdings, Inc. is the larger business by last-quarter revenue ($3.8B vs $2.0B, roughly 1.9× Solventum). Solventum runs the higher net margin — 0.6% vs 0.5%, a 0.2% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (0.0% vs -3.0%). Kyndryl Holdings, Inc. produced more free cash flow last quarter ($2.0B vs $-273.0M). Over the past eight quarters, Kyndryl Holdings, Inc.'s revenue compounded faster (0.4% CAGR vs -1.8%).
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.
Solventum Corporation is an American health care company that was spun off from 3M on April 1, 2024.
KD vs SOLV — Head-to-Head
Income Statement — Q4 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.8B | $2.0B |
| Net Profit | $17.0M | $13.0M |
| Gross Margin | — | 54.7% |
| Operating Margin | 3.5% | 4.0% |
| Net Margin | 0.5% | 0.6% |
| Revenue YoY | 0.0% | -3.0% |
| Net Profit YoY | -75.0% | — |
| EPS (diluted) | $0.08 | $0.07 |
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 | $2.0B | ||
| Q4 25 | $3.9B | $2.0B | ||
| Q3 25 | $3.7B | $2.1B | ||
| Q2 25 | $3.7B | $2.2B | ||
| Q1 25 | $3.8B | $2.1B | ||
| Q4 24 | $3.7B | $2.1B | ||
| Q3 24 | $3.8B | $2.1B | ||
| Q2 24 | $3.7B | $2.1B |
| Q1 26 | $17.0M | $13.0M | ||
| Q4 25 | $57.0M | $63.0M | ||
| Q3 25 | $68.0M | $1.3B | ||
| Q2 25 | $56.0M | $90.0M | ||
| Q1 25 | $69.0M | $137.0M | ||
| Q4 24 | $215.0M | $31.0M | ||
| Q3 24 | $-43.0M | $122.0M | ||
| Q2 24 | $11.0M | $89.0M |
| Q1 26 | — | 54.7% | ||
| Q4 25 | 21.8% | 51.4% | ||
| Q3 25 | 21.5% | 54.2% | ||
| Q2 25 | 21.3% | 54.4% | ||
| Q1 25 | 21.7% | 53.8% | ||
| Q4 24 | 20.4% | 53.9% | ||
| Q3 24 | 19.9% | 56.0% | ||
| Q2 24 | 21.5% | 54.6% |
| Q1 26 | 3.5% | 4.0% | ||
| Q4 25 | 2.4% | 6.3% | ||
| Q3 25 | 2.6% | 80.6% | ||
| Q2 25 | 2.5% | 9.9% | ||
| Q1 25 | 3.1% | 7.3% | ||
| Q4 24 | 6.9% | 6.6% | ||
| Q3 24 | -0.1% | 13.2% | ||
| Q2 24 | 1.7% | 11.7% |
| Q1 26 | 0.5% | 0.6% | ||
| Q4 25 | 1.5% | 3.2% | ||
| Q3 25 | 1.8% | 60.4% | ||
| Q2 25 | 1.5% | 4.2% | ||
| Q1 25 | 1.8% | 6.6% | ||
| Q4 24 | 5.7% | 1.5% | ||
| Q3 24 | -1.1% | 5.9% | ||
| Q2 24 | 0.3% | 4.3% |
| Q1 26 | $0.08 | $0.07 | ||
| Q4 25 | $0.25 | $0.37 | ||
| Q3 25 | $0.29 | $7.22 | ||
| Q2 25 | $0.23 | $0.51 | ||
| Q1 25 | $0.30 | $0.78 | ||
| Q4 24 | $0.89 | $0.18 | ||
| Q3 24 | $-0.19 | $0.70 | ||
| Q2 24 | $0.05 | $0.51 |
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 | $561.0M |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | — | $5.0B |
| Total Assets | — | $14.1B |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.6B | $561.0M | ||
| Q4 25 | $1.3B | $878.0M | ||
| Q3 25 | $1.3B | $1.6B | ||
| Q2 25 | $1.5B | $492.0M | ||
| Q1 25 | $1.8B | $534.0M | ||
| Q4 24 | $1.5B | $762.0M | ||
| Q3 24 | $1.3B | $772.0M | ||
| Q2 24 | $1.3B | $897.0M |
| Q1 26 | — | $4.6B | ||
| Q4 25 | $2.3B | $5.0B | ||
| Q3 25 | $3.0B | $5.1B | ||
| Q2 25 | $3.0B | $7.8B | ||
| Q1 25 | $3.0B | $7.9B | ||
| Q4 24 | $3.1B | $8.0B | ||
| Q3 24 | $3.1B | $8.1B | ||
| Q2 24 | $3.1B | $8.3B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $1.2B | $5.0B | ||
| Q3 25 | $1.2B | $5.0B | ||
| Q2 25 | $1.2B | $3.6B | ||
| Q1 25 | $1.2B | $3.3B | ||
| Q4 24 | $1.1B | $3.0B | ||
| Q3 24 | $1.1B | $3.2B | ||
| Q2 24 | $996.0M | $2.9B |
| Q1 26 | — | $14.1B | ||
| Q4 25 | $11.3B | $14.3B | ||
| Q3 25 | $11.2B | $14.0B | ||
| Q2 25 | $11.5B | $15.1B | ||
| Q1 25 | $10.5B | $14.5B | ||
| Q4 24 | $9.9B | $14.5B | ||
| Q3 24 | $10.4B | $14.7B | ||
| Q2 24 | $10.2B | $14.6B |
| Q1 26 | — | 0.92× | ||
| Q4 25 | 1.92× | 1.00× | ||
| Q3 25 | 2.45× | 1.03× | ||
| Q2 25 | 2.44× | 2.14× | ||
| Q1 25 | 2.50× | 2.43× | ||
| Q4 24 | 2.81× | 2.71× | ||
| Q3 24 | 2.92× | 2.54× | ||
| Q2 24 | 3.12× | 2.90× |
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 | $-273.0M |
| FCF MarginFCF / Revenue | 53.8% | -13.6% |
| Capex IntensityCapex / Revenue | 16.1% | — |
| Cash ConversionOCF / Net Profit | 55.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.0B | $-203.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $948.0M | — | ||
| Q4 25 | $428.0M | $95.0M | ||
| Q3 25 | $146.0M | $76.0M | ||
| Q2 25 | $-124.0M | $169.0M | ||
| Q1 25 | $581.0M | $29.0M | ||
| Q4 24 | $260.0M | $219.0M | ||
| Q3 24 | $149.0M | $169.0M | ||
| Q2 24 | $-48.0M | $355.0M |
| Q1 26 | $2.0B | $-273.0M | ||
| Q4 25 | $208.0M | $32.0M | ||
| Q3 25 | $17.0M | $-21.0M | ||
| Q2 25 | $-267.0M | $59.0M | ||
| Q1 25 | $341.0M | $-80.0M | ||
| Q4 24 | $151.0M | $92.0M | ||
| Q3 24 | $15.0M | $76.0M | ||
| Q2 24 | $-170.0M | $297.0M |
| Q1 26 | 53.8% | -13.6% | ||
| Q4 25 | 5.4% | 1.6% | ||
| Q3 25 | 0.5% | -1.0% | ||
| Q2 25 | -7.1% | 2.7% | ||
| Q1 25 | 9.0% | -3.9% | ||
| Q4 24 | 4.0% | 4.4% | ||
| Q3 24 | 0.4% | 3.7% | ||
| Q2 24 | -4.5% | 14.3% |
| Q1 26 | 16.1% | — | ||
| Q4 25 | 5.7% | 3.2% | ||
| Q3 25 | 3.5% | 4.6% | ||
| Q2 25 | 3.8% | 5.1% | ||
| Q1 25 | 6.3% | 5.3% | ||
| Q4 24 | 2.9% | 6.1% | ||
| Q3 24 | 3.6% | 4.5% | ||
| Q2 24 | 3.3% | 2.8% |
| Q1 26 | 55.76× | — | ||
| Q4 25 | 7.51× | 1.51× | ||
| Q3 25 | 2.15× | 0.06× | ||
| Q2 25 | -2.21× | 1.88× | ||
| Q1 25 | 8.42× | 0.21× | ||
| Q4 24 | 1.21× | 7.06× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | -4.36× | 3.99× |
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% |
SOLV
| Infection Prevention and Surgical Solutions | $737.0M | 37% |
| Advanced Wound Care | $497.0M | 25% |
| Dental Solutions | $354.0M | 18% |
| Health Information Systems | $342.0M | 17% |
| All Other 4 | $76.0M | 4% |
