Kyndryl Holdings, Inc. (KD) Balance Sheet

NYSE: KDAssets, liabilities, debt and equity over 7 years.

KD balance sheet, FY2026

March 31, 2026 · U.S. dollars

$12.55B assets = $11.26B liabilities + $1.29B equity

Both columns are drawn to the same scale: what KD owns equals what it owes plus shareholders’ equity. Hover a block for its value.

KD financial health

Current ratio0.88

Tight · current assets cover current liabilities 0.88×

Debt / equity4.22

High leverage · $4.22 of debt for each $1 of equity

Equity / assets9.4%

Thin equity · of assets funded by shareholders

Cash / debt52.9%

Partial cover · cash & short-term investments vs total debt

Goodwill & intangibles7.6%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

KD balance sheet trends, FY2020–FY2026

Kyndryl Holdings, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$11.74BFY2020	$12.55BFY2026	+1.1%/yr
Total liabilities	$5.80BFY2020	$11.26BFY2026	+11.7%/yr
Shareholders’ equity	$5.89BFY2020	$1.18BFY2026	−23.6%/yr
Cash & short-term investments	$36.0MFY2020	$2.62BFY2026	+104.4%/yr
Total debt	$1.36BFY2020	$4.96BFY2026	+24.1%/yr
Net cash (debt)	−$1.32BFY2020	−$2.33BFY2026	−$1.0B
Working capital	−$257.0MFY2020	−$779.0MFY2026	−$522.0M
Book value per share	$26.31FY2020	$5.03FY2026	−24.1%/yr
Current ratio	0.92FY2020	0.88FY2026	−0.05
Debt / equity	0.23FY2020	4.22FY2026	+3.99
Shares outstanding	223.9MFY2020	233.8MFY2026	+0.7%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

KD assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

KD liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

KD debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

KD balance sheet

Kyndryl Holdings, Inc. annual balance sheet
	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Assets
Cash & short-term investments	$2.62B	$1.79B	$1.55B	$1.85B	$2.22B	$2.22B	$36.0M
Cash & equivalents	$2.62B	$1.79B	$1.55B	$1.85B	$2.22B	$2.22B	$36.0M
Receivables	$1.30B	$1.34B	$1.60B	$1.52B	$2.28B	$2.28B	$1.79B
Inventory	$0	$0	$1.08B	$1.08B	$1.27B	$1.38B	$1.15B
Other current assets	$1.60B	$1.46B	$513.0M	$511.0M	$1.0M	$0	$178.0M
Total current assets	$5.53B	$4.59B	$4.75B	$4.96B	$5.78B	$5.78B	$3.15B
Property, plant & equipment (net)	$3.37B	$3.30B	$3.54B	$3.74B	$4.29B	$4.29B	$5.34B
Goodwill & intangible assets	$951.0M	$1.01B	$993.0M	$983.0M	$768.0M	$768.0M	$1.25B
Long-term investments	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$2.70B	$1.55B	$1.31B	$1.77B	$2.38B	$2.38B	$2.00B
Total assets	$12.55B	$10.45B	$10.59B	$11.46B	$13.21B	$13.21B	$11.74B
Liabilities
Accounts payable	$1.35B	$1.35B	$1.41B	$1.77B	$1.14B	$1.14B	$826.0M
Short-term debt	$2.06B	$403.0M	$411.0M	$426.0M	$465.0M	$465.0M	$370.0M
Deferred revenue	$888.0M	$746.0M	$825.0M	$820.0M	$872.0M	$872.0M	$896.0M
Total current liabilities	$6.31B	$4.30B	$4.59B	$4.87B	$4.46B	$4.46B	$3.41B
Long-term debt	$2.29B	$3.04B	$3.11B	$3.11B	$3.13B	$140.0M	$100.0M
Lease obligations	$867.0M	$785.0M	$907.0M	$1.02B	$1.37B	$1.39B	$1.36B
Other long-term liabilities	$2.66B	$1.78B	$1.77B	$2.02B	$2.86B	$5.85B	$2.29B
Total liabilities	$11.26B	$9.12B	$9.47B	$10.00B	$10.45B	$10.45B	$5.80B
Shareholders' equity
Common stock & paid-in capital	$4.70B	$4.63B	$4.52B	$4.43B	$4.28B	$4.28B	$7.11B
Retained earnings (deficit)	−$1.87B	−$2.07B	−$2.32B	−$1.98B	−$375.0M	−$375.0M	$7.11B
Accumulated other comprehensive income	−$1.07B	−$1.16B	−$1.15B	−$1.06B	−$1.14B	−$1.14B	−$1.22B
Minority interest	$117.0M	$113.0M	$107.0M	$97.0M	—	—	—
Total shareholders' equity	$1.18B	$1.22B	$1.01B	$1.36B	$2.77B	$2.77B	$5.89B
Key figures
Total debt	$4.96B	$3.96B	$4.14B	$4.24B	$4.60B	$4.60B	$1.36B
Net cash (debt)	−$2.33B	−$2.17B	−$2.59B	−$2.40B	−$2.38B	−$2.38B	−$1.32B
Working capital	−$779.0M	$289.0M	$158.0M	$95.0M	$1.32B	$1.32B	−$257.0M
Tangible book value	$224.0M	$212.0M	$22.0M	$382.0M	$2.00B	$2.00B	$4.64B
Book value per share	$5.03	$5.10	$4.43	$6.02	$12.34	$12.35	$26.31
Shares outstanding	233.8M	239.1M	229.2M	226.7M	224.1M	223.9M	223.9M
Current ratio	0.88	1.07	1.03	1.02	1.30	1.30	0.92
Quick ratio	0.62	0.73	0.69	0.69	1.01	1.01	0.54
Debt / equity	4.22	3.25	4.08	3.11	1.66	1.66	0.23
Equity / assets	9.4%	11.7%	9.6%	11.9%	20.9%	20.9%	50.2%

Kyndryl Holdings, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$2.10B	$2.62B	$450.0M	$1.33B	$1.46B	$1.79B	$1.50B	$1.32B	$1.27B	$1.79B	$1.50B	$1.32B
Cash & equivalents	$2.10B	$2.62B	$450.0M	$1.33B	$1.46B	$1.79B	$1.50B	$1.32B	$1.27B	$1.79B	$1.50B	$1.32B
Receivables	$1.25B	$1.30B	−$63.0M	$1.32B	$1.28B	$1.34B	$1.37B	$1.44B	$1.44B	$1.34B	$1.37B	$1.44B
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$1.03B	$1.08B	$926.0M	$0
Other current assets	$1.72B	$1.60B	$2.85B	$1.64B	$1.73B	$1.46B	$1.42B	$1.62B	$612.0M	$376.0M	$496.0M	$1.62B
Total current assets	$5.07B	$5.53B	$3.24B	$4.29B	$4.47B	$4.59B	$4.30B	$4.39B	$4.36B	$4.59B	$4.30B	$4.39B
Property, plant & equipment (net)	$3.34B	$3.37B	$542.0M	$3.50B	$3.48B	$3.30B	$3.19B	$3.54B	$3.52B	$3.30B	$3.19B	$3.54B
Goodwill & intangible assets	$945.0M	$951.0M	$954.0M	$959.0M	$961.0M	$1.01B	$1.00B	$1.02B	$1.01B	$1.01B	$1.00B	$1.02B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$2.68B	$2.70B	$6.54B	$2.50B	$2.58B	$1.55B	$1.43B	$1.45B	$1.28B	$1.55B	$1.43B	$1.45B
Total assets	$12.03B	$12.55B	$11.28B	$11.24B	$11.49B	$10.45B	$9.93B	$10.40B	$10.16B	$10.45B	$9.93B	$10.40B
Liabilities
Accounts payable	$1.05B	$1.35B	$1.24B	$1.12B	$1.14B	$1.35B	$1.15B	$1.24B	$1.34B	$1.35B	$1.15B	$1.24B
Short-term debt	$2.04B	$2.06B	$1.09B	$415.0M	$417.0M	$403.0M	$388.0M	$413.0M	$401.0M	$403.0M	$388.0M	$413.0M
Deferred revenue	$876.0M	$888.0M	—	$827.0M	$854.0M	$746.0M	$782.0M	$856.0M	$805.0M	$746.0M	$782.0M	$856.0M
Total current liabilities	$5.98B	$6.31B	$5.04B	$4.20B	$4.24B	$4.30B	$3.94B	$4.25B	$4.23B	$4.30B	$3.94B	$4.25B
Long-term debt	$2.29B	$2.29B	$2.29B	$3.00B	$3.01B	$3.04B	$3.07B	$3.11B	$3.11B	$3.11B	$2.63B	$3.12B
Lease obligations	$860.0M	$867.0M	$875.0M	$898.0M	$891.0M	$785.0M	$751.0M	$858.0M	$877.0M	$907.0M	$957.0M	$934.0M
Other long-term liabilities	$2.59B	$2.66B	$2.63B	$2.70B	$2.90B	$1.78B	$1.71B	$1.87B	$1.72B	$1.71B	$2.16B	$1.85B
Total liabilities	$10.86B	$11.26B	$9.97B	$9.90B	$10.15B	$9.12B	$8.72B	$9.22B	$9.06B	$9.12B	$8.72B	$9.22B
Shareholders' equity
Common stock & paid-in capital	$4.72B	$4.70B	$4.71B	$4.69B	$4.66B	$4.63B	$4.61B	$4.58B	$4.55B	$4.63B	$4.61B	$4.58B
Retained earnings (deficit)	−$1.92B	−$1.87B	−$1.89B	−$1.94B	−$2.01B	−$2.07B	−$2.14B	−$2.35B	−$2.31B	−$2.07B	−$2.14B	−$2.35B
Accumulated other comprehensive income	−$1.07B	−$1.07B	−$1.10B	−$1.09B	−$1.09B	−$1.16B	−$1.27B	−$1.09B	−$1.19B	−$1.16B	−$1.27B	−$1.09B
Minority interest	$97.0M	$117.0M	$115.0M	$112.0M	$110.0M	—	—	—	—	—	—	—
Total shareholders' equity	$1.07B	$1.18B	$1.19B	$1.23B	$1.23B	$1.22B	$1.09B	$1.06B	$996.0M	$1.22B	$1.09B	$1.06B
Key figures
Total debt	$4.93B	$4.96B	$4.57B	$4.03B	$4.03B	$3.96B	$3.95B	$4.10B	$4.12B	$3.96B	$3.95B	$4.10B
Net cash (debt)	−$2.83B	−$2.33B	−$4.12B	−$2.69B	−$2.57B	−$2.17B	−$2.45B	−$2.77B	−$2.85B	−$2.17B	−$2.45B	−$2.77B
Working capital	−$911.0M	−$779.0M	−$1.81B	$94.0M	$226.0M	$289.0M	$362.0M	$138.0M	$124.0M	$289.0M	$362.0M	$138.0M
Tangible book value	$125.0M	$224.0M	$240.0M	$268.0M	$273.0M	$212.0M	$90.0M	$47.0M	−$11.0M	$212.0M	$90.0M	$47.0M
Book value per share	$4.58	$5.15	$5.14	$5.20	$5.11	$5.06	$4.55	$4.60	$4.22	$5.30	$4.76	$4.65
Shares outstanding	233.8M	228.0M	232.5M	235.9M	241.7M	240.7M	240.7M	231.6M	235.8M	230.2M	229.6M	229.1M
Current ratio	0.85	0.88	0.64	1.02	1.05	1.07	1.09	1.03	1.03	1.07	1.09	1.03
Quick ratio	0.56	0.62	0.08	0.63	0.65	0.73	0.73	0.65	0.64	0.73	0.73	0.65
Debt / equity	4.61	4.22	3.82	3.28	3.27	3.25	3.61	3.85	4.13	3.25	3.61	3.85
Equity / assets	8.9%	9.4%	10.6%	10.9%	10.7%	11.7%	11.0%	10.2%	9.8%	11.7%	11.0%	10.2%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 29, 2026); data from EODHD.

KD financial position

At the end of fiscal 2026 (March 31, 2026), Kyndryl had total assets of $12.6 billion (up 20.1% from a year earlier), total liabilities of $11.3 billion and shareholders' equity of $1.2 billion. It held $2.6 billion in cash and short-term investments against $5.0 billion of debt, net debt of $2.3 billion. Its current ratio was 0.88. In the latest quarter (ended June 30, 2026) total assets were $12.0 billion and equity $1.1 billion.

Related: KD income statement, KD cash flow statement, KD key metrics. See the KD stock overview for the latest quote and news.

KD balance sheet FAQ

What are Kyndryl's total assets?

Kyndryl reported total assets of $12.6 billion at the end of fiscal 2026 (March 31, 2026), compared with $10.5 billion a year earlier.

How much debt does Kyndryl have?

Kyndryl had $5.0 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 4.22.

How much cash does Kyndryl have?

Kyndryl held $2.6 billion in cash and short-term investments at the end of fiscal 2026; with $5.0 billion of debt that is net debt of $2.3 billion.

What is Kyndryl's book value?

Kyndryl's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2026, or $5.03 per share.

What is Kyndryl's current ratio?

Kyndryl had current assets of $5.5 billion and current liabilities of $6.3 billion, a current ratio of 0.88 (current liabilities exceed current assets).

How much goodwill does Kyndryl have?

Kyndryl carried $951.0 million of goodwill and intangible assets, 7.6% of total assets, at the end of fiscal 2026.