Updated
The most significant concentration Kyndryl Holdings discloses is financial services industry at 45%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Source: Kyndryl Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1: 'Approximately 45 percent of our revenue is derived from companies in the financial services industry, where we serve hundreds of global, multinational and regional banks, insurance companies, mutual fund complexes, credit card and transaction processors and providers of other financial services.'”
“10-K Item 1: '17 percent of our revenue is from retail, travel and logistics companies.'”
“10-K Item 1: '14 percent of our revenue is generated from the industrial sector, which includes some of the largest automotive manufacturers in the world.'”
“10-K Item 1: '13 percent of our revenue is generated from healthcare companies and the public sector.'”
“10-K Item 1: '11 percent of our revenue is generated from technology, media and telecom companies.'”
“10-K Item 1: 'In fiscal year 2026, our five largest customers accounted for approximately 10 percent of our revenue.'”
Kyndryl's revenue base is diversified across the customer verticals it serves, but with a clear tilt toward one industry. Financial services accounts for approximately 45% of revenue, a medium-sized dependency on banks, insurers, mutual fund complexes, and payment processors that ties the company's fortunes to IT spending cycles in that sector. The remainder is spread across retail, travel and logistics at 17%, the industrial sector including major automotive manufacturers at 14%, healthcare and the public sector at 13%, and technology, media and telecom at 11% — each individually a low-share exposure. Notably, the five largest customers together made up only about 10% of revenue in fiscal 2026, indicating that within any given vertical, no single counterparty dominates. Taken together, these are structural, sector-driven exposures rather than idiosyncratic counterparty risk. The financial services concentration is the one line worth monitoring, since a downturn in bank or insurer technology budgets would disproportionately affect Kyndryl relative to peers with a more even industry mix. But the low customer-level concentration limits the risk that any single client's decision could materially move results, and the broad spread across five additional verticals provides some offsetting diversification against sector-specific shocks.
For the engine’s reasoning on KD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CACI | CACI International, Inc. | 3 | 1 | 0 | 4 |
| BBAI | BigBear.ai, Inc. | 1 | 1 | 0 | 2 |
| KD● | Kyndryl Holdings, Inc. | 0 | 1 | 5 | 6 |
| ACN | Accenture plc | 0 | 0 | 0 | 0 |
| APLD | Applied Digital Corporation | 0 | 0 | 0 | 0 |
| BR | Broadridge Financial Solutions, | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.