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International Business Machines Corporation(IBM)Earnings, Financials & Key Ratios
IBM•NYSE
22.3× P/E·Price updated Jun 19, 2026
AboutInternational Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. This segment also provides transaction processing software that supports clients' mission-critical and on-premise workloads in banking, airlines, and retail industries. The Consulting segment offers business transformation services, including strategy, business process design and operations, data and analytics, and system integration services; technology consulting services; and application and cloud platform services. The Infrastructure segment provides on-premises and cloud-based server and storage solutions for its clients' mission-critical and regulated workloads; and support services and solutions for hybrid cloud infrastructure, as well as remanufacturing and remarketing services for used equipment. The Financing segment offers lease, installment payment, loan financing, and short-term working capital financing services. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.Show more
- Revenue$67.53B+7.6%
- EBITDA$15.35B+4.1%
- Net Income$10.59B+75.9%
- EPS (Diluted)11.17+73.7%
- Gross Margin59.5%+5.0%
- EBITDA Margin22.72%-3.3%
- Operating Margin15.29%-4.8%
- Net Margin15.69%+63.4%
- ROE35.23%+46.3%
IBM Key Insights
International Business Machines Corporation (IBM) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Dividend Aristocrat: 30 years of consecutive increases
- ✓Excellent 3Y average ROE of 31.0%
- ✓FCF machine: 17.1% free cash flow margin
- ✓High quality earnings: Operating CF exceeds net income
- ✓Healthy dividend yield of 2.6%
- ✓Healthy 5Y average net margin of 10.0%
✗Weaknesses
- ✗High debt to equity ratio of 2.1x
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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IBM Price & Volume
International Business Machines Corporation (IBM) stock price & volume — 10-year historical chart
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IBM Growth Metrics
International Business Machines Corporation (IBM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-1.89%
5 Years4.12%
3 Years3.72%
TTM9.68%
Profit CAGR
10 Years-2.17%
5 Years13.64%
3 Years86.23%
TTM96.49%
EPS CAGR
10 Years-1.82%
5 Years12.39%
3 Years83.76%
TTM94.66%
Return on Capital
10 Years10.52%
5 Years8.83%
3 Years9.77%
Last Year9.5%
IBM Recent Earnings
International Business Machines Corporation (IBM) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
Apr 22, 2026Metric
Actual
Est
EPS
$1.91+5.5%
$1.81
Rev
$15.9B+1.8%
$15.6B
Q1 2026
Jan 28, 2026Metric
Actual
Est
EPS
$4.52+4.9%
$4.31
Rev
$19.7B+2.6%
$19.2B
Q4 2025
Oct 22, 2025Metric
Actual
Est
EPS
$2.65+8.2%
$2.45
Rev
$16.3B+1.5%
$16.1B
Q3 2025
Jul 23, 2025Metric
Actual
Est
EPS
$2.80+5.7%
$2.65
Rev
$17.0B+2.3%
$16.6B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 22, 2026 | $1.91vs $1.81+5.5% | $15.9Bvs $15.6B+1.8% |
| Q1 2026 | Jan 28, 2026 | $4.52vs $4.31+4.9% | $19.7Bvs $19.2B+2.6% |
| Q4 2025 | Oct 22, 2025 | $2.65vs $2.45+8.2% | $16.3Bvs $16.1B+1.5% |
| Q3 2025 | Jul 23, 2025 | $2.80vs $2.65+5.7% | $17.0Bvs $16.6B+2.3% |
Based on last 12 quarters of dataView full earnings history →
IBM Peer Comparison
International Business Machines Corporation (IBM) competitors in IT Consulting and Systems Integration — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 ACN | 80.34B | 130.55 | 10.74 | 7.36% | 10.7% | 24.08% | 0.25 | |
 HPE | 62.78B | 47.41 | -1063.00 | 14.06% | 3.9% | 6.11% | 0.97 | |
 DXC | 1.41B | 8.60 | 86 | -1.76% | 0.14% | 0.54% | 1.32 | |
 CTSH | 20.71B | 43.70 | 9.60 | 6.95% | 10.41% | 14.79% | 0.10 | |
 INFY | 42.87B | 10.57 | 13.91 | 3.85% | 16.16% | 29.59% | 0.09 | |
 WIT | 25.04B | 2.39 | 17.97 | -0.24% | 15.05% | 15.7% | 0.23 | |
 MSFT | 2.82T | 379.40 | 27.82 | 14.93% | 39.34% | 33.13% | 0.33 | |
 ORCL | 530.08B | 184.31 | 31.61 | 17.35% | 25.37% | 49.81% | 3.63 |
Compare IBM vs Peers
International Business Machines Corporation (IBM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
IBM Income Statement
International Business Machines Corporation (IBM) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 79.14B | 79.59B | 57.71B | 55.18B | 57.35B | 60.53B | 61.86B | 62.75B | 67.53B | 68.91B |
Revenue Growth % | -0.98% | 0.57% | -27.49% | -4.39% | 3.94% | 5.54% | 2.2% | 1.44% | 7.62% | 9.68% |
Cost of Goods Sold | 42.2B | 42.66B | 26.18B | 24.31B | 25.86B | 27.84B | 27.56B | 27.2B | 27.35B | 28.27B |
COGS % of Revenue | 53.32% | 53.59% | 45.36% | 44.06% | 45.1% | 46% | 44.55% | 43.35% | 40.5% | - |
Gross Profit | 36.94B▲ 0% | 36.94B▼ 0.0% | 31.53B▼ 14.6% | 30.86B▼ 2.1% | 31.49B▲ 2.0% | 32.69B▲ 3.8% | 34.3B▲ 4.9% | 35.55B▲ 3.6% | 40.19B▲ 13.0% | 40.64B▲ 0% |
Gross Margin % | 46.68% | 46.41% | 54.64% | 55.94% | 54.9% | 54% | 55.45% | 56.65% | 59.5% | 58.97% |
Gross Profit Growth % | -4.08% | -0.02% | -14.63% | -2.12% | 2.01% | 3.81% | 4.93% | 3.65% | 13.03% | - |
Operating Expenses | 23.8B | 23.72B | 24B | 26.2B | 24.62B | 24.51B | 24.48B | 25.48B | 29.86B | 29.36B |
OpEx % of Revenue | 30.08% | 29.8% | 41.58% | 47.49% | 42.93% | 40.5% | 39.57% | 40.6% | 44.21% | - |
Selling, General & Admin | 19.68B | 19.37B | 18.72B | 20.56B | 18.75B | 18.61B | 17.56B | 17.91B | 21.54B | 20.27B |
SG&A % of Revenue | 24.87% | 24.33% | 32.44% | 37.26% | 32.68% | 30.74% | 28.39% | 28.54% | 31.89% | - |
Research & Development | 5.59B | 5.38B | 5.91B | 6.26B | 6.49B | 6.57B | 6.78B | 7.48B | 8.32B | 8.54B |
R&D % of Revenue | 7.06% | 6.76% | 10.24% | 11.35% | 11.31% | 10.85% | 10.95% | 11.92% | 12.32% | - |
Other Operating Expenses | -1.47B | -1.03B | -639M | -620M | -612M | -662M | 145M | 89M | 0 | 3M |
Operating Income | 13.14B▲ 0% | 13.22B▲ 0.6% | 7.54B▼ 43.0% | 4.66B▼ 38.2% | 6.87B▲ 47.3% | 8.17B▲ 19.1% | 9.82B▲ 20.1% | 10.07B▲ 2.6% | 10.32B▲ 2.5% | 11.27B▲ 0% |
Operating Margin % | 16.6% | 16.61% | 13.06% | 8.45% | 11.97% | 13.5% | 15.88% | 16.05% | 15.29% | 16.36% |
Operating Income Growth % | -10.48% | 0.59% | -42.97% | -38.15% | 47.25% | 19.07% | 20.15% | 2.58% | 2.49% | - |
EBITDA | 17.68B | 17.7B | 13.6B | 11.36B | 13.28B | 12.98B | 14.22B | 14.74B | 15.35B | 15.08B |
EBITDA Margin % | 22.34% | 22.23% | 23.56% | 20.58% | 23.16% | 21.44% | 22.98% | 23.49% | 22.72% | 21.89% |
EBITDA Growth % | -7.23% | 0.1% | -23.17% | -16.47% | 16.95% | -2.3% | 9.56% | 3.69% | 4.1% | 0.62% |
D&A (Non-Cash Add-back) | 4.54B | 4.48B | 6.06B | 6.7B | 6.42B | 4.8B | 4.4B | 4.67B | 5.02B | 3.81B |
EBIT | 12.02B | 12.06B | 8.55B | 3.86B | 5.99B | 2.37B | 10.3B | 7.51B | 12.26B | 12.51B |
Net Interest Income | -519M | -422M | -673M | -1.18B | -1.1B | -1.05B | -937M | -965M | -1.94B | -1.48B |
Interest Income | 144M | 264M | 349M | 105M | 52M | 162M | 670M | 747M | 0 | 474M |
Interest Expense | 663M | 686M | 1.02B | 1.29B | 1.16B | 1.22B | 1.61B | 1.71B | 1.94B | 1.95B |
Other Income/Expense | -1.74B | -1.88B | -332M | -2.09B | -2.03B | -7.02B | -1.13B | -4.28B | 3M | -713M |
Pretax Income | 11.4B▲ 0% | 11.34B▼ 0.5% | 7.21B▼ 36.5% | 2.57B▼ 64.3% | 4.84B▲ 88.1% | 1.16B▼ 76.1% | 8.69B▲ 651.7% | 5.8B▼ 33.3% | 10.33B▲ 78.2% | 10.56B▲ 0% |
Pretax Margin % | 14.41% | 14.25% | 12.49% | 4.66% | 8.43% | 1.91% | 14.05% | 9.24% | 15.29% | 15.32% |
Income Tax | 5.64B | 2.62B | 60M | -1.36B | 124M | -626M | 1.18B | -218M | -242M | -173M |
Effective Tax Rate % | 49.49% | 23.09% | 0.83% | -52.88% | 2.56% | -54.15% | 13.53% | -3.76% | -2.34% | -1.64% |
Net Income | 5.75B▲ 0% | 8.73B▲ 51.7% | 9.43B▲ 8.1% | 5.59B▼ 40.7% | 5.74B▲ 2.7% | 1.64B▼ 71.4% | 7.5B▲ 357.4% | 6.02B▼ 19.7% | 10.59B▲ 75.9% | 10.75B▲ 0% |
Net Margin % | 7.27% | 10.97% | 16.34% | 10.13% | 10.01% | 2.71% | 12.13% | 9.6% | 15.69% | 15.61% |
Net Income Growth % | -51.54% | 51.71% | 8.05% | -40.73% | 2.72% | -71.44% | 357.44% | -19.71% | 75.88% | 96.49% |
Net Income (Continuing) | 5.76B | 8.72B | 7.15B | 3.93B | 4.71B | 1.78B | 7.51B | 6.01B | 10.57B | 10.73B |
Discontinued Operations | -5M | 5M | 2.29B | 1.66B | 1.03B | -143M | -12M | 8M | 22M | 2M |
Minority Interest | 131M | 134M | 144M | 129M | 95M | 77M | 80M | 86M | 93M | 81M |
EPS (Diluted) | 6.14▲ 0% | 9.53▲ 55.2% | 10.56▲ 10.8% | 6.23▼ 41.0% | 6.35▲ 1.9% | 1.80▼ 71.7% | 8.14▲ 352.2% | 6.43▼ 21.0% | 11.17▲ 73.7% | 11.30▲ 0% |
EPS Growth % | -50.4% | 55.21% | 10.81% | -41% | 1.93% | -71.65% | 352.22% | -21.01% | 73.72% | 94.66% |
EPS (Basic) | 6.17 | 9.57 | 10.63 | 6.28 | 6.41 | 1.82 | 8.23 | 6.53 | 11.36 | - |
Diluted Shares Outstanding | 937.4M | 916.3M | 892.81M | 896.56M | 904.64M | 912.27M | 922.07M | 937.2M | 948.7M | 952.1M |
Basic Shares Outstanding | 932.8M | 912M | 887.24M | 890.35M | 895.99M | 902.66M | 911.21M | 937.2M | 932.3M | 938.5M |
Dividend Payout Ratio | 95.71% | 64.92% | 60.51% | 103.7% | 102.21% | 362.68% | 80.51% | 102.06% | 59.05% | - |
IBM Balance Sheet
International Business Machines Corporation (IBM) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 49.73B | 49.15B | 38.42B | 39.16B | 29.54B | 29.12B | 32.91B | 34.48B | 35.86B | 31.91B |
Cash & Short-Term Investments | 12.58B | 12B | 8.87B | 13.81B | 7.25B | 8.74B | 13.44B | 14.59B | 14.47B | 11.78B |
Cash Only | 11.97B | 11.38B | 8.17B | 13.21B | 6.65B | 7.89B | 13.07B | 13.95B | 13.64B | 10.82B |
Short-Term Investments | 608M | 618M | 696M | 600M | 600M | 852M | 373M | 644M | 830M | 964M |
Accounts Receivable | 32.1B | 7.9B | 8.36B | 6.21B | 7.22B | 7B | 13.96B | 14.01B | 17.64B | 14.24B |
Days Sales Outstanding | 148.05 | 36.24 | 52.88 | 41.11 | 45.98 | 42.24 | 82.35 | 81.49 | 95.33 | 75.79 |
Inventory | 1.58B | 1.68B | 1.62B | 1.84B | 1.65B | 1.55B | 1.16B | 1.29B | 1.22B | 1.48B |
Days Inventory Outstanding | 13.69 | 14.39 | 22.57 | 27.61 | 23.27 | 20.35 | 15.38 | 17.3 | 16.28 | 17.25 |
Other Current Assets | 2.27B | 26.04B | 18.11B | 15.72B | 11.59B | 9.95B | 4.35B | 4.59B | 2.53B | 1.2B |
Total Non-Current Assets | 75.62B | 74.24B | 113.77B | 116.81B | 102.46B | 98.13B | 102.33B | 102.69B | 116.02B | 124.31B |
Property, Plant & Equipment | 11.12B | 10.79B | 15.01B | 9.77B | 8.92B | 8.21B | 8.72B | 8.93B | 9.03B | 5.78B |
Fixed Asset Turnover | 7.12x | 7.38x | 3.85x | 5.65x | 6.43x | 7.37x | 7.09x | 7.03x | 7.48x | 8.32x |
Goodwill | 36.79B | 36.27B | 58.22B | 53.77B | 55.64B | 55.95B | 60.18B | 60.71B | 67.72B | 74.71B |
Intangible Assets | 3.74B | 3.09B | 15.24B | 13.74B | 12.51B | 11.18B | 11.04B | 10.66B | 11.39B | 14.62B |
Long-Term Investments | 4.92B | 226M | 222M | 216M | 1.82B | 1.62B | 1.59B | 1.69B | 7.71B | 13.07B |
Other Non-Current Assets | 14.19B | 18.65B | 19.9B | 30.91B | 16.2B | 14.91B | 14.15B | 13.73B | 11.57B | 18.64B |
Total Assets | 125.36B▲ 0% | 123.38B▼ 1.6% | 152.19B▲ 23.3% | 155.97B▲ 2.5% | 132B▼ 15.4% | 127.24B▼ 3.6% | 135.24B▲ 6.3% | 137.18B▲ 1.4% | 151.88B▲ 10.7% | 156.23B▲ 0% |
Asset Turnover | 0.63x | 0.65x | 0.38x | 0.35x | 0.43x | 0.48x | 0.46x | 0.46x | 0.44x | 0.46x |
Asset Growth % | 6.71% | -1.57% | 23.35% | 2.49% | -15.37% | -3.6% | 6.29% | 1.43% | 10.72% | 37.89% |
Total Current Liabilities | 37.36B | 38.23B | 37.7B | 39.87B | 33.62B | 31.5B | 34.12B | 33.14B | 38.66B | 40.1B |
Accounts Payable | 6.45B | 6.56B | 4.9B | 4.03B | 3.96B | 4.05B | 4.13B | 4.03B | 4.76B | 4.04B |
Days Payables Outstanding | 55.8 | 56.12 | 68.26 | 60.54 | 55.81 | 53.11 | 54.72 | 54.1 | 63.47 | 53.69 |
Short-Term Debt | 6.99B | 10.21B | 8.8B | 7.12B | 6.79B | 4.76B | 6.43B | 5.09B | 7.22B | 9.45B |
Deferred Revenue (Current) | 11.55B | 11.16B | 12.03B | 11.98B | 12.52B | 12.03B | 13.45B | 13.91B | 16.1B | 62.03B |
Other Current Liabilities | 3.65B | 3.31B | 3.41B | 6.88B | 3.21B | 3.48B | 3.5B | 3.6B | 6.46B | 4.84B |
Current Ratio | 1.33x | 1.29x | 1.02x | 0.98x | 0.88x | 0.92x | 0.96x | 1.04x | 0.93x | 0.80x |
Quick Ratio | 1.29x | 1.24x | 0.98x | 0.94x | 0.83x | 0.87x | 0.93x | 1.00x | 0.90x | 0.76x |
Cash Conversion Cycle | 105.95 | -5.49 | 7.2 | 8.18 | 13.44 | 9.48 | 43 | 44.68 | 48.14 | 39.35 |
Total Non-Current Liabilities | 70.27B | 68.22B | 93.5B | 95.38B | 79.39B | 73.72B | 78.51B | 76.64B | 80.48B | 83.07B |
Long-Term Debt | 39.84B | 35.6B | 54.1B | 54.22B | 44.92B | 46.02B | 49.77B | 49.88B | 57.38B | 57.71B |
Capital Lease Obligations | 0 | 38M | 3.88B | 2.72B | 2.46B | 2.19B | 2.92B | 2.65B | 2.55B | 10.57B |
Deferred Tax Liabilities | 545M | 3.7B | 5.23B | 4.96B | 3.96B | 2.29B | 1.15B | 815M | 0 | 0 |
Other Non-Current Liabilities | 26.14B | 25.44B | 26.44B | 29.72B | 24.47B | 19.71B | 21.14B | 19.66B | 16.28B | 18.53B |
Total Liabilities | 107.63B | 106.45B | 131.2B | 135.25B | 113B | 105.22B | 112.63B | 109.78B | 119.14B | 123.17B |
Total Debt | 46.82B | 45.81B | 68.16B | 65.09B | 55.14B | 54.01B | 59.94B | 58.4B | 67.15B | 70.6B |
Net Debt | 34.85B | 34.43B | 59.99B | 51.9B | 48.49B | 46.13B | 46.87B | 44.45B | 53.51B | 59.78B |
Debt / Equity | 2.64x | 2.71x | 3.25x | 3.14x | 2.90x | 2.45x | 2.65x | 2.13x | 2.05x | 2.14x |
Debt / EBITDA | 2.65x | 2.59x | 5.01x | 5.73x | 4.15x | 4.16x | 4.22x | 3.96x | 4.38x | 4.68x |
Net Debt / EBITDA | 1.97x | 1.95x | 4.41x | 4.57x | 3.65x | 3.55x | 3.30x | 3.02x | 3.49x | 3.96x |
Interest Coverage | 18.12x | 17.59x | 8.37x | 3.00x | 5.19x | 1.95x | 6.41x | 4.39x | 6.34x | 6.41x |
Total Equity | 17.73B▲ 0% | 16.93B▼ 4.5% | 20.98B▲ 24.0% | 20.73B▼ 1.2% | 19B▼ 8.3% | 22.02B▲ 15.9% | 22.61B▲ 2.7% | 27.39B▲ 21.1% | 32.74B▲ 19.5% | 33.05B▲ 0% |
Equity Growth % | -3.63% | -4.49% | 23.95% | -1.23% | -8.35% | 15.92% | 2.69% | 21.14% | 19.52% | 70.73% |
Book Value per Share | 18.91 | 18.48 | 23.50 | 23.12 | 21.00 | 24.14 | 24.52 | 29.23 | 34.51 | 34.72 |
Total Shareholders' Equity | 17.59B | 16.8B | 20.84B | 20.6B | 18.9B | 21.94B | 22.53B | 27.31B | 32.65B | 32.97B |
Common Stock | 54.57B | 55.15B | 55.9B | 56.56B | 57.32B | 58.34B | 59.64B | 61.38B | 63.32B | 63.94B |
Retained Earnings | 153.13B | 159.21B | 162.95B | 162.72B | 154.21B | 149.82B | 151.28B | 151.16B | 155.65B | 155.33B |
Treasury Stock | -163.51B | -168.07B | -169.41B | -169.34B | -169.39B | -169.48B | -169.62B | -169.97B | -170.6B | -170.87B |
Accumulated OCI | -26.59B | -29.49B | -28.6B | -29.34B | -23.23B | -16.74B | -18.76B | -15.27B | -15.71B | -15.41B |
Minority Interest | 131M | 134M | 144M | 129M | 95M | 77M | 80M | 86M | 93M | 81M |
IBM Cash Flow Statement
International Business Machines Corporation (IBM) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 16.72B | 15.25B | 14.77B | 18.2B | 12.8B | 10.44B | 13.93B | 13.45B | 13.19B | 13.99B |
Operating CF Margin % | 21.13% | 19.16% | 25.59% | 32.98% | 22.31% | 17.24% | 22.52% | 21.43% | 19.53% | - |
Operating CF Growth % | -2.11% | -8.83% | -3.13% | 23.2% | -29.68% | -18.45% | 33.5% | -3.49% | -1.88% | 0.87% |
Net Income | 5.75B | 8.73B | 9.43B | 5.59B | 5.74B | 1.64B | 7.5B | 6.02B | 10.57B | 10.75B |
Depreciation & Amortization | 4.54B | 4.48B | 6.06B | 6.7B | 6.42B | 4.8B | 4.4B | 4.67B | 5.02B | 1.39B |
Stock-Based Compensation | 534M | 510M | 679M | 937M | 982M | 987M | 1.13B | 1.31B | 0 | 105M |
Deferred Taxes | -931M | 853M | -1.53B | -3.2B | -2B | -2.73B | -1.11B | -2.33B | 0 | 0 |
Other Non-Cash Items | 14M | 122M | -1.1B | -71M | -136M | 5.53B | -170M | 2.46B | 1.74B | 10.09B |
Working Capital Changes | 6.81B | 554M | 1.23B | 8.25B | 1.79B | 202M | 2.18B | 1.31B | -4.14B | -3.34B |
Change in Receivables | 1.3B | 1.01B | 502M | 5.3B | 1.37B | -539M | 725M | -374M | -3.16B | 0 |
Change in Inventory | 18M | -127M | 67M | -209M | 138M | 71M | 390M | -166M | 0 | 0 |
Change in Payables | 47M | 126M | -503M | 138M | 85M | 213M | 65M | -13M | 0 | 0 |
Cash from Investing | -7.1B | -4.91B | -26.94B | -3.03B | -5.97B | -4.2B | -7.07B | -4.94B | -10.3B | -7.81B |
Capital Expenditures | -3.23B | -3.4B | -2.29B | -2.62B | -2.06B | -1.35B | -1.25B | -1.05B | -1.62B | -1.05B |
CapEx % of Revenue | 4.08% | 4.27% | 3.96% | 4.74% | 3.6% | 2.22% | 2.01% | 1.67% | 2.39% | 1.52% |
Acquisitions | -701M | -139M | -31.55B | 167M | -3.18B | -1.08B | -5.09B | -2.59B | -8.29B | -3.87B |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | -2.11B | -825M | 6.64B | 51M | -320M | -515M | -243M | -80M | -2M | -17.33B |
Cash from Financing | -6.42B | -10.47B | 9.04B | -9.72B | -13.35B | -4.96B | -1.77B | -7.08B | -3.83B | -6.55B |
Debt Issued (Net) | 3.45B | -301M | 16.28B | -3.71B | -8.12B | 1.22B | 4.5B | -880M | 2.87B | -3.42B |
Equity Issued (Net) | -4.53B | -4.61B | -1.63B | -302M | -319M | -407M | -402M | 745M | 0 | -70M |
Dividends Paid | -5.51B | -5.67B | -5.71B | -5.8B | -5.87B | -5.95B | -6.04B | -6.15B | -6.25B | -6.28B |
Share Repurchases | -4.53B | -4.61B | -1.63B | -302M | -319M | -407M | -402M | 0 | 0 | -350M |
Other Financing | 174M | 112M | 98M | 92M | 909M | 176M | 176M | -797M | -447M | 3.22B |
Net Change in Cash | 4.15B▲ 0% | -630M▼ 115.2% | -3.29B▼ 422.4% | 5.36B▲ 262.9% | -6.72B▼ 225.3% | 1.03B▲ 115.3% | 5.1B▲ 394.8% | 1.07B▼ 79.0% | -520M▼ 148.6% | -297M▲ 0% |
Free Cash Flow | 12.95B▲ 0% | 11.28B▼ 12.9% | 11.86B▲ 5.1% | 14.97B▲ 26.2% | 10.03B▼ 33.0% | 8.46B▼ 15.6% | 12.12B▲ 43.2% | 11.76B▼ 3.0% | 11.57B▼ 1.6% | 13.09B▲ 0% |
FCF Margin % | 16.36% | 14.18% | 20.55% | 27.12% | 17.49% | 13.98% | 19.59% | 18.74% | 17.14% | 18.99% |
FCF Growth % | 0.13% | -12.88% | 5.14% | 26.17% | -33% | -15.61% | 43.22% | -2.98% | -1.57% | 9.61% |
FCF per Share | 13.82 | 12.31 | 13.29 | 16.69 | 11.09 | 9.28 | 13.15 | 12.55 | 12.20 | 13.75 |
FCF Conversion (FCF/Net Income) | 2.91x | 1.75x | 1.57x | 3.26x | 2.23x | 6.36x | 1.86x | 2.23x | 1.25x | 1.22x |
Interest Paid | 1.21B | 1.42B | 1.69B | 1.83B | 1.51B | 1.4B | 1.67B | 1.98B | 0 | 0 |
Taxes Paid | 1.6B | 1.75B | 2.09B | 2.25B | 2.1B | 1.86B | 1.56B | 1.72B | 0 | 0 |
IBM Key Ratios
International Business Machines Corporation (IBM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 31.86% | 50.37% | 49.75% | 26.8% | 28.91% | 8% | 33.62% | 24.09% | 35.23% | 35.44% |
Return on Invested Capital (ROIC) | 18.71% | 19.07% | 8.54% | 4.55% | 7.35% | 9.04% | 10.7% | 10.69% | 9.8% | 9.79% |
Gross Margin | 46.68% | 46.41% | 54.64% | 55.94% | 54.9% | 54% | 55.45% | 56.65% | 59.5% | 58.97% |
Net Margin | 7.27% | 10.97% | 16.34% | 10.13% | 10.01% | 2.71% | 12.13% | 9.6% | 15.69% | 15.61% |
Debt / Equity | 2.64x | 2.71x | 3.25x | 3.14x | 2.90x | 2.45x | 2.65x | 2.13x | 2.05x | 2.14x |
Interest Coverage | 18.12x | 17.59x | 8.37x | 3.00x | 5.19x | 1.95x | 6.41x | 4.39x | 6.34x | 6.41x |
FCF Conversion | 2.91x | 1.75x | 1.57x | 3.26x | 2.23x | 6.36x | 1.86x | 2.23x | 1.25x | 1.22x |
Revenue Growth | -0.98% | 0.57% | -27.49% | -4.39% | 3.94% | 5.54% | 2.2% | 1.44% | 7.62% | 9.68% |
Related:IBM Dividend History·IBM Revenue History·IBM Price History·IBM P/E History·IBM Financial Ratios·IBM Institutional Holders
IBM SEC Filings & Documents
International Business Machines Corporation (IBM) SEC filings — annual & quarterly reports (10-K, 10-Q)
IBM Frequently Asked Questions
International Business Machines Corporation (IBM) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
International Business Machines Corporation (IBM) reported $68.91B in revenue for fiscal year 2025. This represents a 6% decrease from $73.42B in 1996.
International Business Machines Corporation (IBM) grew revenue by 7.6% over the past year. This is steady growth.
Yes, International Business Machines Corporation (IBM) is profitable, generating $10.75B in net income for fiscal year 2025 (15.7% net margin).
Dividend & Returns
Yes, International Business Machines Corporation (IBM) pays a dividend with a yield of 2.65%. This makes it attractive for income-focused investors.
International Business Machines Corporation (IBM) has a return on equity (ROE) of 35.2%. This is excellent, indicating efficient use of shareholder capital.
International Business Machines Corporation (IBM) generated $13.09B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.