KD
Kyndryl Holdings, Inc.
KD has lower modeled downside risk, despite its lower overall score.
SNDK
Sandisk Corporation
SNDK has the edge over KD overall, supported by stronger fundamentals and stronger modeled upside.
KD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Under pressure |
KD's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
SNDK Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
SNDK's revenue, profitability, cash flow and balance sheet are all currently strong.
KD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 6.1x | $17.06 | — |
| Cheap | 14x | $4.73 | -72% |
| Fair | 25x | $8.67 | -49% |
| Expensive | 40x | $14.14 | -17% |
| Current | 49x | $17.06 | — |
Historical ranges are pointers, not guarantees.
KD's PE is in its expensive range at 49x. If earnings grow as analysts expect, today's price would be 6.1x next year's earnings, in its cheap range.
SNDK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 3.8x | $937 | — |
| Current | 7.5x | $937 | — |
| Cheap | 17x | $2,173 | +132% |
| Fair | 24x | $3,048 | +225% |
| Expensive | 59x | $7,452 | +695% |
Historical ranges are pointers, not guarantees.
SNDK has the edge over KD in the historical PE scenario, which offers more potential upside but is not a forecast.
KD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect KD's earnings to grow and its profitability to improve, with its revenue holding steady.
SNDK Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| High |
SNDK has the edge over KD on the outlook, with more favorable revenue expectations.
KD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.78 | +693% |
| Q3 2026 | $0.35 | -80% |
| Q2 2026 | $0.37 | -70% |
| Q1 2026 | $0.85 | -19% |
| Q4 2025 | $1.07 | +91% |
| Q3 2025 | $1.71 | +$2.09 |
| Q2 2025 | $1.23 | +$2.04 |
| Q1 2025 | $1.05 | +$2.53 |
| Q4 2024 | $0.56 | +$5.09 |
KD's earnings per share have fallen from their peak: $0.35 over the past year, against $1.71 in late 2025.
SNDK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $247.30 | +97% |
| Q3 2026 | $125.61 | +$137.63 |
| Q2 2026 | $73.76 | +$85.07 |
| Q2 2025 | -$11.31 | -$6.65 |
SNDK has the edge over KD in the latest year-over-year earnings comparison.
KD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.7B | -1.9% |
| Q2 2026 | $3.6B | -3.3% |
| Q1 2026 | $3.8B | -0.8% |
| Q4 2025 | $3.9B | +3.1% |
| Q3 2025 | $3.7B | -1.4% |
| Q2 2025 | $3.7B | +0.1% |
| Q1 2025 | $3.8B | -1.3% |
| Q4 2024 | $3.7B | -4.9% |
KD's revenue fell from its 2020 peak and has held roughly level since: $3.7B last quarter, down 1.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 3.1% | +0.4 points |
| Q2 2026 | -1.9% | -4.4 points |
| Q1 2026 | 3.5% | +0.4 points |
| Q4 2025 | 2.4% | -4.5 points |
| Q3 2025 | 2.6% | +2.8 points |
| Q2 2025 | 2.5% | +0.8 points |
| Q1 2025 | 3.1% | +3.2 points |
| Q4 2024 | 6.9% | +5.5 points |
KD's operating margin was 3.1% last quarter, about level with the same quarter a year ago.
SNDK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $11B | +378% |
| Q2 2026 | $9B | +372% |
| Q1 2026 | $6B | +251% |
| Q4 2025 | $3B | +61% |
| Q3 2025 | $2.3B | +23% |
| Q2 2025 | $1.9B | +8% |
| Q1 2025 | $1.7B | -0.6% |
| Q4 2024 | $1.9B | +13% |
SNDK has the edge over KD on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 80% | +72 points |
| Q2 2026 | 78% | +78 points |
| Q1 2026 | 69% | +180 points |
| Q4 2025 | 35% | +25 points |
| Q3 2025 | 7.6% | -9 points |
| Q2 2025 | 0.9% | N/A |
| Q1 2025 | -111% | -122 points |
| Q4 2024 | 10% | +6.6 points |
SNDK has the edge over KD on profitability, with a higher operating margin.
KD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$41M | -341% |
| Q2 2026 | -$459M | -$192M |
| Q1 2026 | $382M | +12% |
| Q4 2025 | $208M | +38% |
| Q3 2025 | $17M | +13% |
| Q2 2025 | -$267M | -$97M |
| Q1 2025 | $341M | +$398M |
| Q4 2024 | $151M | -42% |
KD usually generates cash, though not every quarter: the latest was −$41M, but it generated $90M over the past year.
SNDK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.3B | +1340% |
| Q2 2026 | $7.1B | +14355% |
| Q1 2026 | $3B | +$3B |
| Q3 2025 | $438M | +$636M |
| Q2 2025 | $49M | +$217M |
| Q1 2025 | -$18M | +$23M |
| Q3 2024 | -$198M | -$157M |
SNDK has the edge over KD on cash flow, with more consistent year-over-year improvement.
KD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1.5M shares |
| 1 year | -7.1% | -16.8M shares |
| 3 years | -4.4% | -10M shares |
| 5 years | -2.2% | -5M shares |
| Available history | -2.2% | -4.8M shares |
KD has the edge over SNDK on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $33M |
| Q2 2026 | $64M |
| Q1 2026 | $54M |
| Q4 2025 | $99M |
| Q3 2025 | $89M |
| Q2 2025 | $62M |
| Q1 2025 | $63M |
| Q2 2021 | — |
KD spent $250M buying back its own shares over the past year.
SNDK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -1M shares |
| 1 year | +3.4% | +5M shares |
| 3 years | +6.9% | +10M shares |
SNDK has 154M diluted shares, up 3.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5B |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
KD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.9x | Moderate |
| Q2 2026 | 3.5x | Elevated |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.7x | Moderate |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | 1.2x | Healthy |
| Q4 2024 | 1.6x | Healthy |
KD's net debt is about 2.9 years of its operating earnings (EBITDA), up from 1.3 years a year ago.
SNDK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.7x | Net Cash |
SNDK has the edge over KD on leverage, with a lower net debt burden relative to earnings.
KD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 63.0 | Neutral |
| Stochastic | 76.4 | Neutral |
KD's weekly RSI is 63 (neutral) and its Stochastic is 76 (neutral).
SNDK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 40.2 | Neutral |
| Stochastic | 10.6 | Oversold |
SNDK's weekly RSI is 40 (neutral) and its Stochastic is 11 (oversold).
KD PE vs Technology Sector
| Metric | KD | Sector median | Relative |
|---|---|---|---|
| PE | 49x | 28x | 75% above |
| PE % | 86 | 46 | 40 pts above |
KD is trading at 49x earnings, a 75% premium to the Technology sector's median of 28x.
SNDK PE vs Technology Sector
| Metric | SNDK | Sector median | Relative |
|---|---|---|---|
| PE | 7.5x | 28x | 73% below |
| PE % | 4 | 27 | 23 pts below |
SNDK has the edge over KD on valuation relative to its sector.
KD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.8 | 24% above |
| 20 week MA | $13.2 | 30% above |
| 50 week MA | $15.4 | 11% above |
| 100 week MA | $24.8 | 31% below |
| 200 week MA | $22.3 | 23% below |
KD has stronger trend alignment. KD is above 3 of 5 weekly averages versus SNDK above 0 of 3.
SNDK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,317.5 | 29% below |
| 20 week MA | $1,465.4 | 36% below |
| 50 week MA | $1,119.6 | 16% below |
SNDK is in a downtrend: it's below all three of its weekly moving averages, and 16% below its 50-week average.
KD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $40.8 | $19.1 | -53% |
| 2022 | $19.1 | $11.0 | -42% |
| 2023 | $11.0 | $20.8 | +88% |
| 2024 | $20.8 | $34.8 | +68% |
| 2025 | $34.8 | $27.2 | -22% |
| 2026 YTD | $27.2 | $17.1 | -37% |
KD has finished lower in three of the last five years. It's down 37% so far in 2026.
SNDK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $50.4 | $250.1 | +396% |
| 2026 YTD | $250.1 | $937.5 | +275% |
SNDK has the edge over KD on returns for 2026, with the stronger performance.