International Business Machines Corp (IBM)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers hybrid cloud and AI platforms that allow clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment delivers strategy and technology services and intelligent operations, providing business transformation, technology implementation, managed services, application modernization, and AI-powered solutions. The Infrastructure segment provides on-premises and cloud-based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, and facilitates IBM clients' acquisition of hardware, software, and services. It operates a data streaming platform. The company has strategic partnerships with various companies, including hyperscalers, service providers, global system integrators, and software and hardware vendors that include Adobe, Amazon Web Services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. It also has a strategic collaboration with Arm Holdings plc for the development of new dual-architecture hardware that helps enterprises run future AI and data intensive workloads; strategic partnership with three.ws to advance ai-powered 3d agent technology; and collaboration with Lightwell to help strengthen open source software supply chain. Additionally, it offers operational resilience, logistics, and future-ready technology to the UK Ministry of Defence through Team ORION. The company was formerly known as Computing-Tabulating-Recording Co. and changed its name to International Business Machines Corporation in 1924. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.

Symbol
IBM
Exchange
NYSE
Sector
Technology
Industry
Information Technology Services
Market cap
$214.67B
52 week range
199.19 - 332.46

Valuation

Share price
$225.62 (close of 2026-10-01)
P/E (TTM)
19.88x
Price to book
6.21x
Price to free cash flow
15.57x
Enterprise value
$272.77B
Book value per share
$36.66

Price performance

PeriodChange
1 day+2.59%
5 days-0.63%
1 month-2.50%
3 months-21.18%
6 months-7.21%
Year to date-23.83%
1 year-21.25%
3 years+60.81%
5 years+64.66%
10 years+48.57%
All time+1193.69%

Members of Congress who disclosed IBM trades

Gilbert Ray Cisneros · Josh Gottheimer · Lloyd Doggett · Jonathan Jackson · David Taylor · Maria Elvira Salazar · Julie Johnson · Robert Bresnahan · Julia Letlow · Lisa McClain · Alan Armstrong · Dwight Evans

And 3 others

Profitability and growth

Return on equity
32.35%
Return on assets
6.97%
Gross margin
58.19%
Net margin
15.69%
EBITDA margin
21.57%
Revenue growth
7.62%
Net income growth
75.88%
Free cash flow growth
-2.38%

Cash flow and balance sheet

Free cash flow yield (TTM)
6.42%
Current ratio
0.79x
Net debt to EBITDA
3.31x

Latest reported year

Period end
2025-12-31
Fiscal year
2025
Revenue
$67.53B
Cost of revenue
$28.24B
Gross profit
$39.30B
EBITDA
$14.57B
Net income
$10.59B
Earnings per share
$11.36
Research and development
$8.32B
Interest expense
$1.94B
Shares outstanding
932.29M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$67.53B$39.30B$10.59B$11.36
2024-12-31$62.75B$35.55B$6.02B$6.53
2023-12-31$61.86B$34.30B$7.50B$8.23
2022-12-31$60.53B$32.69B$1.64B$1.82
2021-12-31$57.35B$31.49B$5.74B$6.41
2020-12-31$55.18B$30.86B$5.59B$6.28
2019-12-31$57.71B$31.53B$9.43B$10.63
2018-12-31$79.59B$36.94B$8.73B$9.57
2017-12-31$79.14B$36.94B$5.75B$6.17
2016-12-31$79.92B$38.52B$11.87B$12.43

Margins and returns by year

Period endGross marginNet marginReturn on equity
2025-12-3158.19%15.69%32.35%
2024-12-3156.65%9.60%21.99%
2023-12-3155.45%12.13%33.18%
2022-12-3154.00%2.71%7.44%
2021-12-3154.90%10.01%30.23%
2020-12-3155.94%10.13%26.97%
2019-12-3154.64%16.34%44.94%
2018-12-3146.41%10.97%51.56%
2017-12-3146.68%7.27%32.46%
2016-12-3148.19%14.86%64.55%

Cash and debt by year

Period endCashDebt
2025-12-31$13.59B$54.84B
2024-12-31$13.95B$49.88B
2023-12-31$13.07B$50.12B
2022-12-31$7.89B$46.19B
2021-12-31$6.65B$44.92B
2020-12-31$13.19B$54.22B
2019-12-31$8.17B$54.10B
2018-12-31$11.38B$35.60B
2017-12-31$11.97B$39.84B
2016-12-31$7.83B$34.66B

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$12.10B$1.72B
2024-12-31$12.40B$1.31B
2023-12-31$12.69B$1.13B
2022-12-31$9.09B$987.00M
2021-12-31$10.73B$982.00M
2020-12-31$15.58B$937.00M
2019-12-31$12.48B$679.00M
2018-12-31$11.85B$510.00M
2017-12-31$13.49B$534.00M
2016-12-31$13.52B$544.00M

Dividend history

Most recent payment
2026-08-10
Paid in the last twelve months
$6.74
Payment dateDividend per share
2026-08-10$1.69
2026-05-08$1.69
2026-02-10$1.68
2025-11-10$1.68
2025-08-08$1.68
2025-05-09$1.68
2025-02-10$1.67
2024-11-12$1.67

Investor relations

Next earnings report

Next confirmed report
2026-10-21
Consensus EPS estimate
$2.90

Past earnings dates

ReportedFiscal periodEPS estimate
2026-07-22Jun/2026$2.93
2026-04-22--
2026-01-28--
2025-10-22--
2025-07-23--
2025-04-23--
2025-01-29--
2024-10-23--

Filings and sources

Company website
ibm.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart

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