International Business Machines Corporation (IBM) 10-Year Financial Performance & Capital Metrics

IBM • • Industrial / General

TechnologyIT ServicesIT Consulting & Professional ServicesGlobal IT Consulting Giants

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 $62.75B +1.4%
EBITDA $14.74B +3.7%
Net Income $6.02B -19.7%
EPS (Diluted) 6.43 -21.0%
Gross Margin 56.65% +2.2%
EBITDA Margin 23.49% +2.2%
Operating Margin 16.05% +1.1%
Net Margin 9.6% -20.9%
ROE 24.09% -28.3%
ROIC 10.69% -0.1%
Debt/Equity 2.13 -19.6%
Interest Coverage 5.88 -3.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Dividend Aristocrat: 29 years of consecutive increases
✓Excellent 3Y average ROE of 21.9%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 18.7% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 2.2%

✗Weaknesses

✗High debt to equity ratio of 2.1x
✗Dividend payout exceeds 100% of earnings
✗Expensive at 10.2x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.84%

5Y1.69%

3Y3.05%

TTM4.51%

Profit (Net Income) CAGR

10Y-6.68%

5Y-8.58%

3Y1.61%

TTM23.6%

EPS CAGR

10Y-5.97%

5Y-9.45%

3Y0.42%

TTM21.69%

ROCE

10Y Avg11.71%

5Y Avg7.73%

3Y Avg9.41%

Latest9.82%

Peer Comparison

Global IT Consulting Giants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IBMInternational Business Machines Corporation	278.5B	297.95	46.34	1.44%	12.09%	28.25%	4.22%	2.13
INFYInfosys Limited	76.14B	18.82	24.76	3.85%	16.58%	27.92%	5.37%	0.09
ACNAccenture plc	177.1B	287.77	23.68	7.36%	10.76%	23.84%	6.14%	0.25
CTSHCognizant Technology Solutions Corporation	40.94B	84.82	18.81	1.98%	10.2%	14.28%	4.46%	0.10
SAICScience Applications International Corporation	4.99B	110.65	15.43	0.47%	5.05%	24.54%	9.17%	1.52
GIBCGI Inc.	17.8B	92.64	12.60	8.43%	10.42%	16.13%	11.89%	0.43
DXCDXC Technology Company	2.58B	14.84	7.07	-5.82%	2.93%	11.18%	31.81%	1.30
WITWipro Limited	31.11B	2.97	0.24	-0.75%	15.06%	15.66%	100%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	81.74B	79.92B	79.14B	79.59B	57.71B	55.18B	57.35B	60.53B	61.86B	62.75B
Revenue Growth %	-0.12%	-0.02%	-0.01%	0.01%	-0.27%	-0.04%	0.04%	0.06%	0.02%	0.01%
Cost of Goods Sold+	41.06B	41.4B	42.2B	42.66B	26.18B	24.31B	25.86B	27.84B	27.56B	27.2B
COGS % of Revenue	0.5%	0.52%	0.53%	0.54%	0.45%	0.44%	0.45%	0.46%	0.45%	0.43%
Gross Profit+	40.68B	38.52B	36.94B	36.94B	31.53B	30.86B	31.49B	32.69B	34.3B	35.55B
Gross Margin %	0.5%	0.48%	0.47%	0.46%	0.55%	0.56%	0.55%	0.54%	0.55%	0.57%
Gross Profit Growth %	-0.12%	-0.05%	-0.04%	-0%	-0.15%	-0.02%	0.02%	0.04%	0.05%	0.04%
Operating Expenses+	24.76B	24.88B	23.8B	23.72B	24B	26.2B	24.62B	24.51B	24.48B	25.48B
OpEx % of Revenue	0.3%	0.31%	0.3%	0.3%	0.42%	0.47%	0.43%	0.4%	0.4%	0.41%
Selling, General & Admin	19.89B	20.28B	19.68B	19.37B	18.72B	20.56B	18.75B	18.61B	17.56B	17.91B
SG&A % of Revenue	0.24%	0.25%	0.25%	0.24%	0.32%	0.37%	0.33%	0.31%	0.28%	0.29%
Research & Development	5.25B	5.73B	5.59B	5.38B	5.91B	6.26B	6.49B	6.57B	6.78B	7.48B
R&D % of Revenue	0.06%	0.07%	0.07%	0.07%	0.1%	0.11%	0.11%	0.11%	0.11%	0.12%
Other Operating Expenses	-377M	-1.13B	-1.47B	-1.03B	-639M	-620M	-612M	-662M	145M	89M
Operating Income+	16.51B	14.68B	13.14B	13.22B	7.54B	4.66B	6.87B	8.17B	9.82B	10.07B
Operating Margin %	0.2%	0.18%	0.17%	0.17%	0.13%	0.08%	0.12%	0.14%	0.16%	0.16%
Operating Income Growth %	-0.19%	-0.11%	-0.1%	0.01%	-0.43%	-0.38%	0.47%	0.19%	0.2%	0.03%
EBITDA+	20.36B	19.06B	17.68B	17.7B	13.6B	11.36B	13.28B	12.98B	14.22B	14.74B
EBITDA Margin %	0.25%	0.24%	0.22%	0.22%	0.24%	0.21%	0.23%	0.21%	0.23%	0.23%
EBITDA Growth %	-0.18%	-0.06%	-0.07%	0%	-0.23%	-0.16%	0.17%	-0.02%	0.1%	0.04%
D&A (Non-Cash Add-back)	3.85B	4.38B	4.54B	4.48B	6.06B	6.7B	6.42B	4.8B	4.4B	4.67B
EBIT	16.41B	12.96B	12.02B	12.06B	8.55B	3.86B	5.99B	2.37B	10.3B	7.51B
Net Interest Income+	-360M	-522M	-519M	-422M	-673M	-1.18B	-1.1B	-1.05B	-937M	-965M
Interest Income	108M	108M	144M	264M	349M	105M	52M	162M	670M	747M
Interest Expense	468M	630M	663M	686M	1.02B	1.29B	1.16B	1.22B	1.61B	1.71B
Other Income/Expense	-563M	-2.35B	-1.74B	-1.88B	-332M	-2.09B	-2.03B	-7.02B	-1.13B	-4.28B
Pretax Income+	15.95B	12.33B	11.4B	11.34B	7.21B	2.57B	4.84B	1.16B	8.69B	5.8B
Pretax Margin %	0.2%	0.15%	0.14%	0.14%	0.12%	0.05%	0.08%	0.02%	0.14%	0.09%
Income Tax+	2.58B	449M	5.64B	2.62B	60M	-1.36B	124M	-626M	1.18B	-218M
Effective Tax Rate %	0.83%	0.96%	0.5%	0.77%	1.31%	2.17%	1.19%	1.42%	0.86%	1.04%
Net Income+	13.19B	11.87B	5.75B	8.73B	9.43B	5.59B	5.74B	1.64B	7.5B	6.02B
Net Margin %	0.16%	0.15%	0.07%	0.11%	0.16%	0.1%	0.1%	0.03%	0.12%	0.1%
Net Income Growth %	0.1%	-0.1%	-0.52%	0.52%	0.08%	-0.41%	0.03%	-0.71%	3.57%	-0.2%
Net Income (Continuing)	13.36B	11.88B	5.76B	8.72B	7.15B	3.93B	4.71B	1.78B	7.51B	6.01B
Discontinued Operations	-174M	-9M	-5M	5M	2.29B	1.66B	1.03B	-143M	-12M	8M
Minority Interest	162M	146M	131M	134M	144M	129M	95M	77M	80M	86M
EPS (Diluted)+	13.42	12.38	6.14	9.53	10.56	6.23	6.35	1.80	8.14	6.43
EPS Growth %	0.13%	-0.08%	-0.5%	0.55%	0.11%	-0.41%	0.02%	-0.72%	3.52%	-0.21%
EPS (Basic)	13.48	12.43	6.17	9.57	10.63	6.28	6.41	1.82	8.23	6.53
Diluted Shares Outstanding	982.7M	958.7M	937.4M	916.3M	892.81M	896.56M	904.64M	912.27M	922.07M	937.2M
Basic Shares Outstanding	978.7M	955.4M	932.8M	912M	887.24M	890.35M	895.99M	902.66M	911.21M	937.2M
Dividend Payout Ratio	0.37%	0.44%	0.96%	0.65%	0.61%	1.04%	1.02%	3.63%	0.81%	1.02%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	42.5B	43.89B	49.73B	49.15B	38.42B	39.16B	29.54B	29.12B	32.91B	34.48B
Cash & Short-Term Investments	8.19B	8.53B	12.58B	12B	8.87B	13.81B	7.25B	8.74B	13.44B	14.59B
Cash Only	7.69B	7.83B	11.97B	11.38B	8.17B	13.21B	6.65B	7.89B	13.07B	13.95B
Short-Term Investments	508M	701M	608M	618M	696M	600M	600M	852M	373M	644M
Accounts Receivable	28.55B	29.25B	32.1B	7.9B	8.36B	6.21B	7.22B	7B	13.96B	14.01B
Days Sales Outstanding	127.5	133.56	148.05	36.24	52.88	41.11	45.98	42.24	82.35	81.49
Inventory	1.55B	1.55B	1.58B	1.68B	1.62B	1.84B	1.65B	1.55B	1.16B	1.29B
Days Inventory Outstanding	13.79	13.69	13.69	14.39	22.57	27.61	23.27	20.35	15.38	17.3
Other Current Assets	0	-1M	2.27B	26.04B	18.11B	15.72B	11.59B	9.95B	4.35B	4.59B
Total Non-Current Assets+	67.99B	73.58B	75.62B	74.24B	113.77B	116.81B	102.46B	98.13B	102.33B	102.69B
Property, Plant & Equipment	10.73B	10.83B	11.12B	10.79B	15.01B	9.77B	8.92B	8.21B	8.72B	8.93B
Fixed Asset Turnover	7.62x	7.38x	7.12x	7.38x	3.85x	5.65x	6.43x	7.37x	7.09x	7.03x
Goodwill	32.02B	36.2B	36.79B	36.27B	58.22B	53.77B	55.64B	55.95B	60.18B	60.71B
Intangible Assets	3.49B	4.69B	3.74B	3.09B	15.24B	13.74B	12.51B	11.18B	11.04B	10.66B
Long-Term Investments	5.19B	4.58B	4.92B	226M	222M	216M	1.82B	1.62B	1.59B	1.69B
Other Non-Current Assets	11.75B	12.05B	14.19B	18.65B	19.9B	30.91B	16.2B	14.91B	14.15B	13.73B
Total Assets+	110.5B	117.47B	125.36B	123.38B	152.19B	155.97B	132B	127.24B	135.24B	137.18B
Asset Turnover	0.74x	0.68x	0.63x	0.65x	0.38x	0.35x	0.43x	0.48x	0.46x	0.46x
Asset Growth %	-0.06%	0.06%	0.07%	-0.02%	0.23%	0.02%	-0.15%	-0.04%	0.06%	0.01%
Total Current Liabilities+	34.27B	36.27B	37.36B	38.23B	37.7B	39.87B	33.62B	31.5B	34.12B	33.14B
Accounts Payable	6.03B	6.21B	6.45B	6.56B	4.9B	4.03B	3.96B	4.05B	4.13B	4.03B
Days Payables Outstanding	53.59	54.74	55.8	56.12	68.26	60.54	55.81	53.11	54.72	54.1
Short-Term Debt	6.46B	7.51B	6.99B	10.21B	8.8B	7.12B	6.79B	4.76B	6.43B	5.09B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	3.56B	3.58B	3.65B	3.31B	3.41B	6.88B	3.21B	3.48B	3.5B	3.6B
Current Ratio	1.24x	1.21x	1.33x	1.29x	1.02x	0.98x	0.88x	0.92x	0.96x	1.04x
Quick Ratio	1.20x	1.17x	1.29x	1.24x	0.98x	0.94x	0.83x	0.87x	0.93x	1.00x
Cash Conversion Cycle	87.7	92.52	105.95	-5.49	7.2	8.18	13.44	9.48	43	44.68
Total Non-Current Liabilities+	61.8B	62.8B	70.27B	68.22B	93.5B	95.38B	79.39B	73.72B	78.51B	76.64B
Long-Term Debt	33.43B	34.66B	39.84B	35.6B	54.1B	54.22B	44.92B	46.02B	49.77B	49.88B
Capital Lease Obligations	0	0	0	38M	3.88B	2.72B	2.46B	2.19B	2.92B	2.65B
Deferred Tax Liabilities	253M	424M	545M	3.7B	5.23B	4.96B	3.96B	2.29B	1.15B	815M
Other Non-Current Liabilities	24.35B	24.12B	26.14B	25.44B	26.44B	29.72B	24.47B	19.71B	21.14B	19.66B
Total Liabilities	96.07B	99.08B	107.63B	106.45B	131.2B	135.25B	113B	105.22B	112.63B	109.78B
Total Debt+	39.89B	42.17B	46.82B	45.81B	68.16B	65.09B	55.14B	54.01B	59.94B	58.4B
Net Debt	32.2B	34.34B	34.85B	34.43B	59.99B	51.9B	48.49B	46.13B	46.87B	44.45B
Debt / Equity	2.77x	2.29x	2.64x	2.71x	3.25x	3.14x	2.90x	2.45x	2.65x	2.13x
Debt / EBITDA	1.96x	2.21x	2.65x	2.59x	5.01x	5.73x	4.15x	4.16x	4.22x	3.96x
Net Debt / EBITDA	1.58x	1.80x	1.97x	1.95x	4.41x	4.57x	3.65x	3.55x	3.30x	3.02x
Interest Coverage	35.27x	23.30x	19.82x	19.27x	7.38x	3.62x	5.94x	6.72x	6.11x	5.88x
Total Equity+	14.42B	18.39B	17.73B	16.93B	20.98B	20.73B	19B	22.02B	22.61B	27.39B
Equity Growth %	0.2%	0.28%	-0.04%	-0.04%	0.24%	-0.01%	-0.08%	0.16%	0.03%	0.21%
Book Value per Share	14.68	19.18	18.91	18.48	23.50	23.12	21.00	24.14	24.52	29.23
Total Shareholders' Equity	14.26B	18.25B	17.59B	16.8B	20.84B	20.6B	18.9B	21.94B	22.53B	27.31B
Common Stock	53.26B	53.94B	54.57B	55.15B	55.9B	56.56B	57.32B	58.34B	59.64B	61.38B
Retained Earnings	146.12B	152.76B	153.13B	159.21B	162.95B	162.72B	154.21B	149.82B	151.28B	151.16B
Treasury Stock	-155.52B	-159.05B	-163.51B	-168.07B	-169.41B	-169.34B	-169.39B	-169.48B	-169.62B	-169.97B
Accumulated OCI	-29.61B	-29.4B	-26.59B	-29.49B	-28.6B	-29.34B	-23.23B	-16.74B	-18.76B	-15.27B
Minority Interest	162M	146M	131M	134M	144M	129M	95M	77M	80M	86M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	17.25B	17.08B	16.72B	15.25B	14.77B	18.2B	12.8B	10.44B	13.93B	13.45B
Operating CF Margin %	0.21%	0.21%	0.21%	0.19%	0.26%	0.33%	0.22%	0.17%	0.23%	0.21%
Operating CF Growth %	0.02%	-0.01%	-0.02%	-0.09%	-0.03%	0.23%	-0.3%	-0.18%	0.34%	-0.03%
Net Income	13.19B	11.87B	5.75B	8.73B	9.43B	5.59B	5.74B	1.64B	7.5B	6.02B
Depreciation & Amortization	3.85B	4.38B	4.54B	4.48B	6.06B	6.7B	6.42B	4.8B	4.4B	4.67B
Stock-Based Compensation	468M	544M	534M	510M	679M	937M	982M	987M	1.13B	1.31B
Deferred Taxes	1.39B	-1.13B	-931M	853M	-1.53B	-3.2B	-2B	-2.73B	-1.11B	-2.33B
Other Non-Cash Items	551M	62M	14M	122M	-1.1B	-71M	-136M	5.53B	-170M	2.46B
Working Capital Changes	-2.2B	1.36B	6.81B	554M	1.23B	8.25B	1.79B	202M	2.18B	1.31B
Change in Receivables	812M	712M	1.3B	1.01B	502M	5.3B	1.37B	-539M	725M	-374M
Change in Inventory	133M	-14M	18M	-127M	67M	-209M	138M	71M	390M	-166M
Change in Payables	81M	197M	47M	126M	-503M	138M	85M	213M	65M	-13M
Cash from Investing+	-8.2B	-10.54B	-7.1B	-4.91B	-26.94B	-3.03B	-5.97B	-4.2B	-7.07B	-4.94B
Capital Expenditures	-3.58B	-3.57B	-3.23B	-3.4B	-2.29B	-2.62B	-2.06B	-1.35B	-1.25B	-1.05B
CapEx % of Revenue	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%	0.04%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-599M	-1.05B	-2.11B	-825M	6.64B	51M	-320M	-515M	-243M	-80M
Cash from Financing+	-9.41B	-5.92B	-6.42B	-10.47B	9.04B	-9.72B	-13.35B	-4.96B	-1.77B	-7.08B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-4.9B	-5.26B	-5.51B	-5.67B	-5.71B	-5.8B	-5.87B	-5.95B	-6.04B	-6.15B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	535M	204M	174M	112M	98M	92M	909M	176M	176M	-797M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	13.1B	12.93B	12.95B	11.28B	11.86B	14.97B	10.03B	8.46B	12.12B	11.76B
FCF Margin %	0.16%	0.16%	0.16%	0.14%	0.21%	0.27%	0.17%	0.14%	0.2%	0.19%
FCF Growth %	0.03%	-0.01%	0%	-0.13%	0.05%	0.26%	-0.33%	-0.16%	0.43%	-0.03%
FCF per Share	13.33	13.49	13.82	12.31	13.29	16.69	11.09	9.28	13.15	12.55
FCF Conversion (FCF/Net Income)	1.31x	1.44x	2.91x	1.75x	1.57x	3.26x	2.23x	6.36x	1.86x	2.23x
Interest Paid	995M	1.16B	1.21B	1.42B	1.69B	1.83B	1.51B	1.4B	1.67B	1.98B
Taxes Paid	2.66B	1.08B	1.6B	1.75B	2.09B	2.25B	2.1B	1.86B	1.56B	1.72B

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	99.78%	72.35%	31.86%	50.37%	49.75%	26.8%	28.91%	8%	33.62%	24.09%
Return on Invested Capital (ROIC)	27.24%	22.16%	18.71%	19.07%	8.54%	4.55%	7.35%	9.04%	10.7%	10.69%
Gross Margin	49.77%	48.19%	46.68%	46.41%	54.64%	55.94%	54.9%	54%	55.45%	56.65%
Net Margin	16.14%	14.85%	7.27%	10.97%	16.34%	10.13%	10.01%	2.71%	12.13%	9.6%
Debt / Equity	2.77x	2.29x	2.64x	2.71x	3.25x	3.14x	2.90x	2.45x	2.65x	2.13x
Interest Coverage	35.27x	23.30x	19.82x	19.27x	7.38x	3.62x	5.94x	6.72x	6.11x	5.88x
FCF Conversion	1.31x	1.44x	2.91x	1.75x	1.57x	3.26x	2.23x	6.36x	1.86x	2.23x
Revenue Growth	-11.91%	-2.23%	-0.98%	0.57%	-27.49%	-4.39%	3.94%	5.54%	2.2%	1.44%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Software	-	-	-	-	-	-	24.14B	-	26.31B	27.09B
Software Growth	-	-	-	-	-	-	-	-	-	2.95%
Consulting	-	-	-	-	-	-	17.84B	-	19.98B	20.69B
Consulting Growth	-	-	-	-	-	-	-	-	-	3.54%
Infrastructure	-	-	-	-	-	-	14.19B	-	14.59B	14.02B
Infrastructure Growth	-	-	-	-	-	-	-	-	-	-3.93%
Financing	-	-	-	-	-	-	774M	-	741M	713M
Financing Growth	-	-	-	-	-	-	-	-	-	-3.78%
Other	-	-	-	-	-	-	405M	-	233M	-
Other Growth	-	-	-	-	-	-	-	-	-	-
Services	-	-	-	-	-	-	-	30.21B	-	-
Services Growth	-	-	-	-	-	-	-	-	-	-
Sales	-	-	-	-	-	-	-	29.67B	-	-
Sales Growth	-	-	-	-	-	-	-	-	-	-
Financing.	-	-	-	-	-	-	-	651M	-	-
Financing. Growth	-	-	-	-	-	-	-	-	-	-
Extended Warranty	-	-	-	-	-	-	-	135M	-	-
Extended Warranty Growth	-	-	-	-	-	-	-	-	-	-
Global Technology Services	32.02B	-	-	-	27.36B	25.81B	-	-	-	-
Global Technology Services Growth	-	-	-	-	-	-5.66%	-	-	-	-
Cloud And Cognitive Software	-	-	-	-	23.2B	23.38B	-	-	-	-
Cloud And Cognitive Software Growth	-	-	-	-	-	0.76%	-	-	-	-
Global Business Services	17.17B	17.11B	16.71B	-	16.63B	16.16B	-	-	-	-
Global Business Services Growth	-	-0.33%	-2.33%	-	-	-2.84%	-	-	-	-
Systems	-	8.46B	8.95B	-	7.6B	6.98B	-	-	-	-
Systems Growth	-	-	5.68%	-	-	-8.23%	-	-	-	-
Global Financing	1.84B	3.49B	3.17B	-	1.4B	1.12B	-	-	-	-
Global Financing Growth	-	89.89%	-9.33%	-	-	-19.79%	-	-	-	-
Infrastructure Services	-	-	-	23.01B	-	-	-	-	-	-
Infrastructure Services Growth	-	-	-	-	-	-	-	-	-	-
Solutions Software	-	-	-	12.9B	-	-	-	-	-	-
Solutions Software Growth	-	-	-	-	-	-	-	-	-	-
Application Management Services	-	-	-	7.85B	-	-	-	-	-	-
Application Management Services Growth	-	-	-	-	-	-	-	-	-	-
Technical Support Services	-	-	-	6.96B	-	-	-	-	-	-
Technical Support Services Growth	-	-	-	-	-	-	-	-	-	-
Systems Hardware	7.58B	-	-	6.36B	-	-	-	-	-	-
Systems Hardware Growth	-	-	-	-	-	-	-	-	-	-
Transaction Processing Software	-	-	-	5.58B	-	-	-	-	-	-
Transaction Processing Software Growth	-	-	-	-	-	-	-	-	-	-
Integration Software	-	-	-	4.49B	-	-	-	-	-	-
Integration Software Growth	-	-	-	-	-	-	-	-	-	-
Operating Systems Software	-	-	-	1.67B	-	-	-	-	-	-
Operating Systems Software Growth	-	-	-	-	-	-	-	-	-	-
Global Process Services	-	-	-	1.26B	-	-	-	-	-	-
Global Process Services Growth	-	-	-	-	-	-	-	-	-	-
Products And Services Other	-	-	-	207M	-	-	-	-	-	-
Products And Services Other Growth	-	-	-	-	-	-	-	-	-	-
Software	134M	-	-	-	-	-	-	-	-	-
Software Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	30.19B	29.76B	36.99B	36.27B	34.11B	28.3B	31.06B	31.67B	31.27B
Americas Growth	-	-	-1.44%	24.31%	-1.95%	-5.95%	-17.05%	9.75%	1.96%	-1.26%
E M E A	-	-	-	25.49B	24.44B	23.64B	17.45B	17.95B	18.49B	19.43B
E M E A Growth	-	-	-	-	-4.11%	-3.27%	-26.21%	2.88%	3.02%	5.07%
Asia Pacific	-	-	-	17.11B	16.43B	15.86B	11.6B	11.52B	11.7B	12.06B
Asia Pacific Growth	-	-	-	-	-3.95%	-3.45%	-26.85%	-0.71%	1.56%	3.04%
J [P]	-	8.34B	8.24B	-	-	-	-	-	-	-
J [P] Growth	-	-	-1.20%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

International Business Machines Corporation (IBM) has a price-to-earnings (P/E) ratio of 46.3x. This suggests investors expect higher future growth.

Growth & Financials

International Business Machines Corporation (IBM) reported $65.40B in revenue for fiscal year 2024. This represents a 39% decrease from $106.92B in 2011.

International Business Machines Corporation (IBM) grew revenue by 1.4% over the past year. Growth has been modest.

Yes, International Business Machines Corporation (IBM) is profitable, generating $7.91B in net income for fiscal year 2024 (9.6% net margin).

Dividend & Returns

Yes, International Business Machines Corporation (IBM) pays a dividend with a yield of 2.20%. This makes it attractive for income-focused investors.

International Business Machines Corporation (IBM) has a return on equity (ROE) of 24.1%. This is excellent, indicating efficient use of shareholder capital.

International Business Machines Corporation (IBM) generated $13.04B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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