International Business Machines Corporation (IBM) Revenue History
Annual and quarterly revenue from 1989 to present
IBM Revenue Over Time (1989–2025)
IBM Revenue Growth History
20 of 36 years with positive growth- FY1989 revenue growth
- N/A
- FY1990 revenue growth
- +10.1%
- FY1991 revenue growth
- -6.1%
- FY1992 revenue growth
- -0.4%
- FY1993 revenue growth
- -2.8%
- FY1994 revenue growth
- -0.1%
- FY1995 revenue growth
- +14.8%
- FY1996 revenue growth
- +2.1%
- FY1997 revenue growth
- +6.9%
- FY1998 revenue growth
- +4.0%
- FY1999 revenue growth
- +7.2%
- FY2000 revenue growth
- +1.0%
- FY2001 revenue growth
- -6.0%
- FY2002 revenue growth
- -2.3%
- FY2003 revenue growth
- +9.8%
- FY2004 revenue growth
- +8.0%
- FY2005 revenue growth
- -5.4%
- FY2006 revenue growth
- +0.3%
- FY2007 revenue growth
- +8.1%
- FY2008 revenue growth
- +4.9%
- FY2009 revenue growth
- -7.6%
- FY2010 revenue growth
- +4.3%
- FY2011 revenue growth
- +7.1%
- FY2012 revenue growth
- -3.8%
- FY2013 revenue growth
- -4.4%
- FY2014 revenue growth
- -5.7%
- FY2015 revenue growth
- -11.9%
- FY2016 revenue growth
- -2.2%
- FY2017 revenue growth
- -1.0%
- FY2018 revenue growth
- +0.6%
- FY2019 revenue growth
- -27.5%
- FY2020 revenue growth
- -4.4%
- FY2021 revenue growth
- +3.9%
- FY2022 revenue growth
- +5.5%
- FY2023 revenue growth
- +2.2%
- FY2024 revenue growth
- +1.4%
- FY2025 revenue growth
- +7.6%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $15.92B | +9.5% |
| Q4 2025 | $19.69B | +12.2% |
| Q3 2025 | $16.33B | +9.1% |
| Q2 2025 | $16.98B | +7.7% |
| Q1 2025 | $14.54B | +0.6% |
| Q4 2024 | $17.55B | +1.0% |
| Q3 2024 | $14.97B | +1.5% |
| Q2 2024 | $15.77B | +1.9% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
IBM's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
IBM Revenue Analysis (1989–2025)
Current Revenue & Growth
As of June 21, 2026, International Business Machines Corporation (IBM) generated trailing twelve-month (TTM) revenue of $68.91 billion, reflecting solid growth of +9.5% year-over-year. The most recent quarter (Q1 2026) recorded $15.92 billion in revenue, down 19.1% sequentially.
Historical Growth Trajectory
IBM's 5-year compound annual growth rate (CAGR) stands at +4.1%, indicating moderate growth over time. The 3-year CAGR of +3.7% is in line with the 5-year average, suggesting consistent growth. International Business Machines Corporation's highest annual revenue of $106.92 billion was recorded in 2011.
Revenue by Segment
IBM's revenue is primarily driven by Software (44%), Consulting (31%), and Infrastructure Services (23%). The diversified mix across segments reduces dependence on any single product line, which can support more resilient revenue in downturns.
Peer Comparison
Compared to Technology sector peers — including ACN (+6.7% YoY), HPE (+23.2% YoY), and DXC (-1.8% YoY) — IBM has outperformed the peer group in revenue growth. Compare IBM vs ACN →
IBM Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IBMCurrent | $68.9B | +9.5% | +4.1% | 15.3% | |
 ACN | $69.7B | +6.7% | +9.5% | 14.7% | |
 HPE | $34.3B | +23.2% | +4.9% | 4.8% | |
 DXC | $12.6B | -1.8% | -4.9% | 2.0% | |
 CTSH | $21.1B | +6.5% | +4.9% | 16.7% | |
 INFY | $19.3B | +3.8% | +8.6% | 21.1% |
IBM Historical Revenue Data (1989–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $67.53B | +7.6% | $40.19B | 59.5% | $10.32B | 15.3% |
| 2024 | $62.75B | +1.4% | $35.55B | 56.7% | $10.07B | 16.1% |
| 2023 | $61.86B | +2.2% | $34.30B | 55.4% | $9.82B | 15.9% |
| 2022 | $60.53B | +5.5% | $32.69B | 54.0% | $8.17B | 13.5% |
| 2021 | $57.35B | +3.9% | $31.49B | 54.9% | $6.87B | 12.0% |
| 2020 | $55.18B | -4.4% | $30.86B | 55.9% | $4.66B | 8.4% |
| 2019 | $57.71B | -27.5% | $31.53B | 54.6% | $7.54B | 13.1% |
| 2018 | $79.59B | +0.6% | $36.94B | 46.4% | $13.22B | 16.6% |
| 2017 | $79.14B | -1.0% | $36.94B | 46.7% | $13.14B | 16.6% |
| 2016 | $79.92B | -2.2% | $38.52B | 48.2% | $14.68B | 18.4% |
| 2015 | $81.74B | -11.9% | $40.68B | 49.8% | $16.51B | 20.2% |
| 2014 | $92.79B | -5.7% | $46.41B | 50.0% | $20.34B | 21.9% |
| 2013 | $98.37B | -4.4% | $48.68B | 49.5% | $21.50B | 21.9% |
| 2012 | $102.87B | -3.8% | $50.36B | 49.0% | $22.99B | 22.3% |
| 2011 | $106.92B | +7.1% | $50.14B | 46.9% | $21.92B | 20.5% |
Full Stock Analysis
Deep dive into IBM consensus models and risk factors.
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Intrinsic Valuation
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Historical Returns
37+ years return with dividends reinvested.
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Peer Comparison
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IBM — Frequently Asked Questions
Quick answers to the most common questions about buying IBM stock.
Is IBM's revenue growth accelerating or slowing?
IBM revenue growth is holding steady at +9.5% year-over-year. TTM revenue is $68.9B. The current growth rate closely tracks the 5-year CAGR of +4.1%, signalling consistent execution.
What is IBM's revenue history from 1989 to 2026?
International Business Machines Corporation (IBM) revenue history spans 1989 to 2026. TTM revenue as of 2026 is $68.9B, growing at +9.5% YoY. The 5-year CAGR is +4.1%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is IBM's long-term revenue growth rate (CAGR)?
International Business Machines Corporation's 5-year revenue CAGR of +4.1% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +9.5% is in line with this long-term average. CAGR is the most reliable measure of sustained revenue momentum for IBM.
Why does IBM's quarterly revenue fluctuate?
IBM quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. International Business Machines Corporation's revenue data from 1989 to 2026 shows full historical quarterly detail on this page.
How is IBM's revenue distributed by segment?
IBM reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does IBM's revenue compare to industry peers?
International Business Machines Corporation (IBM) with TTM revenue of $68.9B and +9.5% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.