International Business Machines Corporation (IBM) Earnings History
Growth Compounder37 years of earnings data (1989–2025) · Consistent double-digit EPS growth over 5 years
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International Business Machines Corporation (IBM) Earnings Overview
As of September 23, 2026, International Business Machines Corporation (IBM) reported trailing twelve-month net income of $10.72B, reflecting +73.7% year-over-year growth. The company earned $11.26 per diluted share over the past four quarters, with a net profit margin of 15.7%.
Looking at the long-term picture, IBM's 5-year EPS compound annual growth rate (CAGR) stands at +12.4%, showing solid earnings momentum. The company achieved its highest annual net income of $16.60B in fiscal 2012.
International Business Machines Corporation maintains industry-leading profitability with a gross margin of 58.2%, operating margin of 18.5%, and net margin of 15.7%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including ACN ($7.82B net income, 11.0% margin), HPE ($2.75B net income, 0.2% margin), DXC ($124M net income, 0.1% margin), IBM has outperformed on profitability metrics. Compare IBM vs ACN →
IBM Earnings vs Peers
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IBM Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $10.59B | +75.9% | $12.49B | $11.17 | 15.7% | 18.5% |
| 2024 | $6.02B | -19.7% | $10.07B | $6.43 | 9.6% | 16.1% |
| 2023 | $7.50B | +357.4% | $9.82B | $8.14 | 12.1% | 15.9% |
| 2022 | $1.64B | -71.4% | $8.17B | $1.80 | 2.7% | 13.5% |
| 2021 | $5.74B | +2.7% | $6.87B | $6.35 | 10.0% | 12.0% |
| 2020 | $5.59B | -40.7% | $4.66B | $6.23 | 10.1% | 8.4% |
| 2019 | $9.43B | +8.1% | $7.54B | $10.56 | 16.3% | 13.1% |
| 2018 | $8.73B | +51.7% | $13.22B | $9.53 | 11.0% | 16.6% |
| 2017 | $5.75B | -51.5% | $13.14B | $6.14 | 7.3% | 16.6% |
| 2016 | $11.87B | -10.0% | $14.68B | $12.38 | 14.9% | 18.4% |
| 2015 | $13.19B | +9.7% | $16.51B | $13.42 | 16.1% | 20.2% |
| 2014 | $12.02B | -27.1% | $20.34B | $11.90 | 13.0% | 21.9% |
| 2013 | $16.48B | -0.7% | $21.50B | $14.94 | 16.8% | 21.9% |
| 2012 | $16.60B | +4.7% | $22.99B | $14.37 | 16.1% | 22.3% |
| 2011 | $15.86B | +6.9% | $21.92B | $13.06 | 14.8% | 20.5% |
| 2010 | $14.83B | +10.5% | $19.98B | $11.52 | 14.9% | 20.0% |
| 2009 | $13.43B | +8.8% | $17.01B | $10.01 | 14.0% | 17.8% |
| 2008 | $12.33B | +18.4% | $15.94B | $8.93 | 11.9% | 15.4% |
| 2007 | $10.42B | +9.8% | $13.52B | $7.18 | 10.5% | 13.7% |
| 2006 | $9.49B | +19.6% | $11.93B | $6.11 | 10.4% | 13.0% |
| 2005 | $7.93B | +6.1% | $9.38B | $4.87 | 8.7% | 10.3% |
| 2004 | $7.48B | +14.0% | $9.62B | $4.93 | 7.8% | 10.0% |
| 2003 | $6.56B | +83.2% | $8.63B | $4.32 | 7.4% | 9.7% |
| 2002 | $3.58B | -53.7% | $6.80B | $2.06 | 4.4% | 8.4% |
| 2001 | $7.72B | -4.6% | $9.86B | $4.35 | 9.3% | 11.9% |
| 2000 | $8.09B | +4.9% | $11.63B | $4.44 | 9.2% | 13.2% |
| 1999 | $7.71B | +21.9% | $11.93B | $4.12 | 8.8% | 13.6% |
| 1998 | $6.33B | +3.9% | $9.16B | $3.29 | 7.7% | 11.2% |
| 1997 | $6.09B | +12.2% | $9.10B | $3.01 | 7.8% | 11.6% |
| 1996 | $5.43B | +29.9% | $6.07B | $2.56 | 7.4% | 8.3% |
| 1995 | $4.18B | +38.3% | $7.59B | $1.81 | 5.8% | 10.6% |
| 1994 | $3.02B | +137.8% | $5.00B | $1.25 | 4.8% | 8.0% |
| 1993 | -$7.99B | -16.3% | $308M | $-3.54 | -12.7% | 0.5% |
| 1992 | -$6.87B | -1117.2% | $3.41B | $-2.17 | -10.6% | 5.3% |
| 1991 | -$564M | -109.4% | $942M | $-0.25 | -0.9% | 1.5% |
| 1990 | $6.02B | +60.2% | $11.03B | $2.63 | 8.7% | 16.0% |
| 1989 | $3.76B | - | $6.89B | $1.62 | 6.0% | 11.0% |
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IBM — Frequently Asked Questions
Quick answers to the most common questions about buying IBM stock.
What is IBM earnings per share (EPS)?
IBM trailing twelve-month (TTM) diluted EPS is $11.26, reflecting +73.7% year-over-year growth. The 5-year EPS CAGR is +12.4%. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is International Business Machines Corporation's net income?
International Business Machines Corporation (IBM) trailing twelve-month net income is $10.7B as of 2025. Earnings grew +73.7% year-over-year. International Business Machines Corporation has been profitable for 32 consecutive years.
Is IBM profitable?
Yes, IBM is profitable with a TTM net income of $10.7B and a net profit margin of +15.7%. International Business Machines Corporation has generated profits for 32 consecutive years.
What is IBM's earnings growth rate?
IBM compound annual EPS growth rates (CAGR): 1-Year: +73.7%, 3-Year: +83.8%, 5-Year: +12.4%, 10-Year: -1.8%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are IBM's profit margins?
International Business Machines Corporation net profit margin is +15.7%, operating margin is +18.5%, and gross margin is +58.2%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +35.2%.
Is IBM growing earnings?
Yes, IBM earnings are accelerating — EPS growth of +73.7% exceeds the 5-year CAGR of +12.4%. TTM net income reached $10.7B. Earnings momentum is strengthening.
What was IBM's best earnings year?
International Business Machines Corporation's highest annual net income on record is $16.6B, achieved in fiscal year 2012. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were IBM's earnings last quarter?
IBM's most recent reported quarter was Q2 2026. Net income was $2.2B with diluted EPS of $2.30. For a full breakdown of all quarters, see the quarterly earnings table on this page.