International Business Machines Corporation logo IBM - International Business Machines Corporation

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 1
BUY 21
HOLD 24
SELL 4
STRONG
SELL 0
| PRICE TARGET: $305.09 DETAILS
HIGH: $360.00
LOW: $225.00
MEDIAN: $320.00
CONSENSUS: $305.09
UPSIDE: 20.19%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 67,535 62,753 61,860 60,530 57,351 55,179 57,714 79,591 79,139 79,920 81,742 92,793 98,368 102,874 106,916 99,871 95,758 103,630 98,786 91,424 91,134 96,293 89,131 81,186 83,067 88,396 87,548 81,667 78,508 73,424 71,940 62,668 62,716
Cost of Revenue 27,350 27,201 27,560 27,842 25,865 24,314 26,181 42,655 42,196 41,403 41,057 46,386 49,683 52,513 56,778 53,857 51,973 57,969 57,057 53,129 54,602 60,724 56,584 50,902 51,178 55,972 55,619 50,795 47,899 45,408 41,573 37,384 38,568
Gross Profit 40,185 35,551 34,300 32,687 31,486 30,865 31,533 36,936 36,943 38,516 40,684 46,407 48,684 50,361 50,138 46,014 43,785 45,661 41,729 38,295 36,532 35,569 32,547 30,284 31,889 32,424 31,929 30,872 30,609 28,016 30,367 25,284 24,148
Operating Expenses
R&D Expenses 8,320 7,479 6,775 6,567 6,488 6,262 5,910 5,379 5,590 5,726 5,247 5,437 5,743 5,816 6,258 6,026 5,820 6,337 6,153 6,107 5,842 5,874 5,314 4,750 4,986 5,151 5,273 5,046 4,877 5,089 6,010 4,363 5,558
SG&A Expenses 21,540 17,910 17,559 18,609 18,745 20,561 18,724 19,366 19,680 20,279 19,894 22,472 22,924 23,085 23,217 21,545 20,521 22,773 22,060 20,259 21,314 20,079 18,601 18,738 17,048 15,639 14,729 16,662 16,634 16,854 16,766 15,916 18,282
Other Expenses 0 89 145 (662) (612) (620) (639) (1,026) (1,466) (1,127) (377) (368) (451) (746) (819) (901) 432 612 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 29,860 25,478 24,479 24,514 24,621 26,203 23,995 23,719 23,804 24,878 24,764 27,541 28,216 28,155 28,656 26,670 26,773 29,722 28,213 26,366 27,156 25,953 23,915 23,488 22,034 20,790 20,002 21,708 21,511 21,943 22,776 20,279 23,840
Operating Income
Operating Income 10,325 10,074 9,821 8,174 6,865 4,662 7,538 13,217 13,139 14,677 16,508 20,338 21,500 22,990 21,922 19,985 17,012 15,939 13,516 11,929 9,376 9,616 8,632 6,796 9,855 11,634 11,927 9,164 9,098 6,073 7,591 5,005 308
Interest Expense 1,935 1,712 1,607 1,216 1,155 1,288 1,022 686 663 630 468 484 402 459 411 368 402 673 611 278 220 139 145 145 0 717 727 713 728 716 725 1,227 1,273
Interest Income 0 747 670 162 52 105 349 264 144 108 108 90 74 109 136 92 94 343 0 0 0 0 0 0 0 0 0 0 0 707 947 1,377 1,113
Profitability
EBITDA 17,284 12,176 14,693 7,174 12,409 10,555 14,609 16,545 16,556 17,341 20,268 24,962 25,324 27,675 26,229 24,922 23,534 22,838 20,301 18,578 17,634 15,723 14,478 12,162 14,361 17,246 19,069 14,745 14,756 14,315 14,140 12,677 (863)
EBIT 12,263 7,509 10,297 2,372 5,992 3,860 8,550 12,065 12,015 12,960 16,413 20,470 20,646 22,999 21,414 20,091 18,540 17,388 15,100 13,595 12,446 10,808 9,562 7,669 9,855 12,251 12,484 9,753 9,755 9,303 8,538 6,382 (7,524)
Income Before Tax 10,328 5,797 8,690 1,156 4,837 2,572 7,206 11,342 11,400 12,330 15,945 19,986 20,244 22,540 21,003 19,723 18,138 16,715 14,489 13,317 12,226 10,669 9,417 7,524 11,450 11,534 11,757 9,040 9,027 8,587 7,813 5,155 (8,797)
Income Tax Expense (242) (218) 1,176 (626) 124 (1,360) 60 2,619 5,642 449 2,581 4,234 3,363 5,541 5,148 4,890 4,713 4,381 4,071 3,901 4,232 3,172 2,829 2,190 3,304 3,441 4,045 2,712 2,934 3,158 3,635 2,134 (810)
Net Income 10,593 6,023 7,502 1,640 5,742 5,590 9,431 8,728 5,753 11,872 13,190 12,022 16,483 16,604 15,855 14,833 13,425 12,334 10,418 9,492 7,934 7,479 6,558 3,579 7,723 8,093 7,712 6,328 6,093 5,429 4,178 3,021 (7,987)
Per Share Data
EPS (Basic) 11.36 6.53 8.23 1.82 6.41 6.28 10.63 9.57 6.17 12.43 13.48 11.97 15.06 14.53 13.25 11.69 10.12 9.07 7.32 6.20 4.96 5.03 4.40 2.10 4.45 4.58 4.25 3.38 3.09 2.56 1.81 1.25 -3.54
EPS (Diluted) 11.17 6.43 8.14 1.80 6.35 6.23 10.56 9.53 6.14 12.38 13.42 11.90 14.94 14.37 13.06 11.52 10.01 8.93 7.18 6.11 4.87 4.93 4.32 2.06 4.35 4.44 4.12 3.29 3.01 2.56 1.81 1.25 -3.54
Shares Outstanding 932.3 937.2 911.2 902.7 896.0 890.3 887.2 912 932.8 955.4 978.7 1,004.3 1,094.5 1,142.5 1,197 1,268.8 1,327.2 1,359.8 1,423.0 1,530.8 1,600.6 1,675.0 1,721.6 1,703.2 1,733.3 1,763.0 1,808.5 1,869.0 1,966.6 2,113.4 2,277.5 2,339.8 2,288.8
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 13,641 13,947 13,068 7,886 6,650 13,212 8,172 11,379 11,972 7,826 12,183 12,741 10,053 7,290 5,382 6,330 3,563 5,043 5,375 7,106 7,687 7,259 7,922 5,861
Short-Term Investments 830 644 373 852 600 600 696 618 608 701 1,791 166 517 357 593 63 159 788 393 447 450 442 2,632 0
Net Receivables 17,639 14,010 13,956 7,005 7,225 6,215 8,362 7,902 32,101 29,245 26,793 27,555 28,136 28,923 27,358 27,018 30,726 27,618 26,781 23,826 23,167 23,402 21,533 19,412
Inventory 1,220 1,289 1,161 1,552 1,649 1,839 1,619 1,682 1,583 1,553 2,493 2,701 3,316 2,942 3,148 4,304 4,765 4,868 5,200 5,139 5,870 6,323 6,334 7,565
Other Current Assets 2,530 4,592 4,350 9,947 11,585 15,720 18,111 26,042 2,268 (1) 1,731 1,542 2,240 (15,548) 2,617 2,524 2,701 2,907 0 0 0 0 0 1,272
Total Current Assets 35,860 34,482 32,908 29,118 29,539 39,165 38,420 49,146 49,735 43,888 48,935 49,004 46,970 44,998 41,652 42,461 43,880 43,155 42,360 40,418 40,695 40,691 41,338 39,202
Non-Current Assets
Property, Plant & Equipment 9,028 8,929 8,721 8,212 8,916 9,770 15,006 10,792 11,116 10,830 14,165 14,304 15,175 14,689 14,440 16,504 16,714 17,590 19,631 18,347 17,407 16,579 16,664 17,521
Goodwill 67,717 60,706 60,178 55,949 55,643 53,765 58,222 36,265 36,788 36,199 20,190 18,226 8,437 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 11,391 10,661 11,036 11,184 12,511 13,739 15,236 3,088 3,741 4,689 2,513 2,876 1,789 7,495 4,677 1,278 0 663 599 819 1,435 2,419 2,963 646
Long-Term Investments 7,708 1,691 1,589 1,617 1,823 216 222 226 4,919 4,585 5,379 5,058 5,468 0 0 0 14,447 26,087 23,510 21,915 21,595 20,603 20,126 0
Other Non-Current Assets 11,566 13,729 14,153 14,908 16,199 30,912 19,899 18,649 14,193 12,055 13,645 12,786 20,394 32,987 31,401 25,675 13,308 26,087 23,510 21,915 21,595 20,603 20,126 23,744
Total Non-Current Assets 116,020 102,694 102,333 98,126 102,462 116,806 113,766 74,237 75,621 73,581 60,087 60,520 62,213 59,459 54,832 45,852 44,469 44,340 43,740 41,081 40,437 39,601 39,753 41,911
Total Assets 151,880 137,175 135,241 127,243 132,001 155,971 152,186 123,382 125,356 117,470 109,022 109,524 109,183 104,457 96,484 88,313 88,349 87,495 86,100 81,499 81,132 80,292 81,091 81,113
Current Liabilities
Account Payables 4,756 4,032 4,132 4,051 3,955 4,033 4,896 6,558 6,451 6,209 7,436 7,014 9,444 8,460 7,630 7,047 8,192 6,400 6,252 5,215 4,767 4,511 3,778 3,400
Short-Term Debt 7,224 5,089 6,426 4,760 6,786 7,116 8,797 10,207 6,986 7,513 4,168 11,236 8,099 6,646 6,031 11,188 10,205 14,230 13,905 13,230 12,957 11,569 9,570 12,097
Deferred Revenue 16,101 13,907 13,451 12,032 12,518 11,980 12,026 11,165 11,552 11,035 10,845 10,239 7,175 6,492 5,276 4,223 4,516 4,529 4,115 3,445 3,640 3,469 3,475 3,575
Other Current Liabilities 6,463 3,604 3,502 3,481 3,205 6,875 3,406 3,310 3,645 3,578 4,505 4,623 3,804 3,671 9,200 8,440 3,801 3,840 3,530 3,043 2,950 2,914 2,702 2,053
Total Current Liabilities 38,658 33,142 34,122 31,505 33,619 39,869 37,701 38,227 37,363 36,275 36,002 42,435 39,786 37,623 34,550 35,119 36,406 39,578 36,827 33,507 34,000 31,648 29,226 33,150
Non-Current Liabilities
Long-Term Debt 57,383 49,884 49,767 46,025 44,917 54,217 54,102 35,605 39,837 34,655 21,932 22,689 14,828 16,986 19,986 15,963 18,371 14,124 15,508 13,696 9,872 10,060 12,548 15,245
Deferred Tax Liabilities 0 815 1,146 2,292 3,956 4,958 5,230 3,696 545 424 15,953 270 1,879 1,834 1,450 1,593 1,623 1,354 1,514 1,487 1,627 1,807 1,881 1,803
Other Non-Current Liabilities 16,281 19,664 21,138 19,711 24,474 29,723 26,438 25,441 26,140 24,124 8,818 27,494 20,709 19,873 17,716 12,024 10,059 11,928 12,818 12,993 14,005 14,354 14,023 11,177
Total Non-Current Liabilities 80,482 76,640 78,506 73,717 79,386 95,376 93,500 68,225 70,268 62,803 50,265 53,624 39,638 38,693 39,152 29,580 31,319 27,406 29,840 28,176 25,504 26,221 28,452 28,225
Total Liabilities 119,140 109,782 112,628 105,222 113,005 135,245 131,201 106,452 107,631 99,078 86,267 96,059 79,436 76,593 73,702 64,699 67,725 66,984 66,667 61,683 59,504 57,869 57,678 61,375
Stockholders' Equity
Common Stock 63,318 61,380 59,643 58,343 57,319 56,556 55,895 55,151 54,566 53,935 41,810 39,129 18,355 16,269 14,858 14,248 12,400 11,762 10,121 8,601 7,752 7,488 7,342 0
Retained Earnings 155,648 151,163 151,276 149,825 154,209 162,717 162,954 159,206 153,126 152,759 80,900 70,353 44,525 37,525 31,555 30,142 23,784 16,878 10,141 11,010 11,189 11,630 12,352 10,009
Accumulated Other Comprehensive Income (15,713) (15,269) (18,761) (16,740) (23,235) (29,337) (28,597) (29,490) (26,592) (29,398) (18,830) (21,845) (2,061) (1,896) (3,418) (662) (295) 1,161 911 899 2,569 3,093 2,672 0
Total Stockholders' Equity 32,648 27,307 22,533 21,944 18,901 20,597 20,841 16,796 17,594 18,246 22,637 13,465 29,747 27,864 22,782 23,614 20,624 20,511 19,433 19,816 21,628 22,423 23,413 19,738
Total Liabilities & Equity 151,880 137,175 135,241 127,243 132,001 155,971 152,186 123,382 125,356 117,470 109,022 109,524 109,183 104,457 96,484 88,313 88,349 87,495 86,100 81,499 81,132 80,292 81,091 81,113
Debt Metrics
Total Debt 67,154 58,396 59,935 54,013 55,140 65,088 68,158 45,812 46,824 42,168 26,100 33,926 22,927 23,632 26,017 27,151 28,576 28,354 29,413 26,926 22,829 21,629 22,118 28,931
Net Debt 53,513 44,449 46,867 46,127 48,490 51,900 59,986 34,433 34,852 34,342 13,917 21,185 12,874 16,342 20,635 20,821 25,013 23,311 24,038 19,820 15,142 14,370 14,196 23,070
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 10,571 6,023 7,502 1,639 5,743 5,590 9,431 8,728 5,753 11,872 7,934 7,479 6,558 5,334 8,146 8,093 7,712 6,328 6,093 5,429 4,178 3,021 (8,101)
Depreciation & Amortization 5,021 4,667 4,396 4,802 6,417 6,695 6,059 4,480 4,541 4,381 5,188 4,915 4,916 4,493 4,506 4,995 6,585 4,992 5,001 5,012 5,602 6,295 6,661
Stock-Based Compensation 0 1,311 1,133 987 982 937 679 510 534 544 1,043 1,578 1,573 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (4,137) 1,313 2,184 202 1,791 8,249 1,225 554 6,813 1,357 57 (35) 895 2,963 585 (3,051) 1,318 (1,180) (2,314) 1,614 154 4,435 5,607
Other Non-Cash Items 1,737 2,461 (170) 5,531 (136) (71) (1,097) 122 14 62 (1,493) (382) (195) 1,065 120 (792) (4,791) (261) (273) (1,791) (618) (2,783) 5,495
Operating Cash Flow 13,192 13,445 13,931 10,435 12,796 18,197 14,770 15,247 16,724 17,084 14,914 15,349 14,537 13,788 14,021 9,274 10,111 9,273 8,865 10,275 10,708 11,793 8,327
Investing Activities
Capital Expenditure (1,617) (1,685) (1,810) (1,972) (2,768) (3,230) (2,907) (3,964) (3,773) (4,150) (4,634) (5,056) (4,974) (5,350) (5,400) (6,181) (6,423) (6,770) (7,107) (6,178) (5,567) (4,439) (4,661)
Acquisitions (8,293) (2,591) (5,086) (1,076) (3,179) 167 (31,554) (139) (701) (6,150) (550) (1,713) (1,739) (1,925) (916) 565 4,880 0 0 (716) (2,880) 1,503 0
Purchases of Investments (390) (7,762) (11,143) (5,930) (3,561) (6,246) (3,693) (7,041) (4,949) (5,853) (4,526) (8,718) (6,471) (1,582) (778) (1,079) (3,949) (4,211) (1,617) (1,613) (1,315) (3,866) (2,721)
Sales/Maturities of Investments 0 6,544 10,647 4,665 3,147 5,618 3,961 6,487 3,910 5,692 4,180 8,830 7,023 1,185 738 1,393 2,616 3,945 1,439 1,470 3,149 2,476 2,387
Other Investing Activities (2) (80) (243) (515) (320) 51 6,636 (825) (2,112) (1,050) 315 623 458 178 494 1,054 743 655 816 1,019 738 (461) (714)
Investing Cash Flow (10,302) (4,937) (7,070) (4,202) (5,975) (3,028) (26,936) (4,913) (7,096) (10,536) (4,423) (5,346) (5,122) (6,897) (6,106) (4,248) (1,669) (6,131) (6,155) (5,723) (5,052) (3,426) (4,202)
Financing Activities
Net Debt Issuance 2,873 (880) 4,497 1,221 (8,115) (3,714) 16,284 (301) 3,447 2,763 609 (1,027) (3,481) (3,173) (437) 643 (1,101) 2,124 3,944 1,759 (267) (6,058) (2,194)
Stock Repurchased 0 0 (402) (407) (319) (302) (1,633) (4,614) (4,533) (3,628) 0 0 (3,232) (3,087) (3,906) 0 0 0 0 0 0 0 0
Dividends Paid (6,255) (6,147) (6,040) (5,948) (5,869) (5,797) (5,707) (5,666) (5,506) (5,256) (1,250) (1,174) (1,085) (1,005) (966) (929) (879) (834) (783) (706) (591) (662) (933)
Other Financing Activities (447) (797) 176 176 909 92 98 112 174 204 0 0 (32) 0 0 0 0 (5) (1) 0 (870) (10) 1,091
Financing Cash Flow (3,829) (7,079) (1,769) (4,958) (13,354) (9,721) 9,042 (10,469) (6,418) (5,917) (7,147) (7,562) (7,766) (7,265) (5,309) (6,359) (8,625) (4,993) (3,090) (3,952) (6,384) (6,412) (1,914)
Cash Position
Net Change in Cash (520) 1,071 5,101 1,031 (6,718) 5,361 (3,291) (630) 4,146 140 2,515 2,763 1,908 (948) 2,767 (1,480) (332) (1,731) (581) 428 (663) 2,061 1,415
Cash at Beginning 14,161 13,089 7,988 6,957 13,675 8,314 11,379 11,972 7,826 7,686 10,053 7,290 5,382 6,330 3,563 5,043 5,375 7,106 7,687 7,259 7,922 5,861 4,446
Cash at End 13,641 14,160 13,089 7,988 6,957 13,675 8,172 11,379 11,972 7,826 12,568 10,053 7,290 5,382 6,330 3,563 5,043 5,375 7,106 7,687 7,259 7,922 5,861
Free Cash Flow 11,575 11,760 12,121 8,463 10,028 14,967 11,863 11,283 12,951 12,934 10,280 10,293 9,563 8,438 8,621 3,093 3,688 2,503 1,758 4,097 5,141 7,354 3,666
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 67,535 62,753 61,860 60,530 57,351 55,179 57,714 79,591 79,139 79,920 81,742 92,793 98,368 102,874 106,916 99,871 95,758 103,630 98,786 91,424 91,134 96,293 89,131 81,186 83,067 88,396 87,548 81,667 78,508 73,424 71,940 62,668 62,716
Gross Profit 40,185 35,551 34,300 32,687 31,486 30,865 31,533 36,936 36,943 38,516 40,684 46,407 48,684 50,361 50,138 46,014 43,785 45,661 41,729 38,295 36,532 35,569 32,547 30,284 31,889 32,424 31,929 30,872 30,609 28,016 30,367 25,284 24,148
Operating Income 10,325 10,074 9,821 8,174 6,865 4,662 7,538 13,217 13,139 14,677 16,508 20,338 21,500 22,990 21,922 19,985 17,012 15,939 13,516 11,929 9,376 9,616 8,632 6,796 9,855 11,634 11,927 9,164 9,098 6,073 7,591 5,005 308
Net Income 10,593 6,023 7,502 1,640 5,742 5,590 9,431 8,728 5,753 11,872 13,190 12,022 16,483 16,604 15,855 14,833 13,425 12,334 10,418 9,492 7,934 7,479 6,558 3,579 7,723 8,093 7,712 6,328 6,093 5,429 4,178 3,021 (7,987)
EPS (Diluted) 11.17 6.43 8.14 1.80 6.35 6.23 10.56 9.53 6.14 12.38 13.42 11.90 14.94 14.37 13.06 11.52 10.01 8.93 7.18 6.11 4.87 4.93 4.32 2.06 4.35 4.44 4.12 3.29 3.01 2.56 1.81 1.25 -3.54
Balance Sheet
Cash & Equivalents 13,641 13,947 13,068 7,886 6,650 13,212 8,172 11,379 11,972 7,826 12,183 12,741 10,053 7,290 5,382 6,330 3,563 5,043 5,375 7,106 7,687 7,259 7,922 5,861
Total Assets 151,880 137,175 135,241 127,243 132,001 155,971 152,186 123,382 125,356 117,470 109,022 109,524 109,183 104,457 96,484 88,313 88,349 87,495 86,100 81,499 81,132 80,292 81,091 81,113
Total Debt 67,154 58,396 59,935 54,013 55,140 65,088 68,158 45,812 46,824 42,168 26,100 33,926 22,927 23,632 26,017 27,151 28,576 28,354 29,413 26,926 22,829 21,629 22,118 28,931
Stockholders' Equity 32,648 27,307 22,533 21,944 18,901 20,597 20,841 16,796 17,594 18,246 22,637 13,465 29,747 27,864 22,782 23,614 20,624 20,511 19,433 19,816 21,628 22,423 23,413 19,738
Cash Flow
Operating Cash Flow 13,192 13,445 13,931 10,435 12,796 18,197 14,770 15,247 16,724 17,084 14,914 15,349 14,537 13,788 14,021 9,274 10,111 9,273 8,865 10,275 10,708 11,793 8,327
Capital Expenditure (1,617) (1,685) (1,810) (1,972) (2,768) (3,230) (2,907) (3,964) (3,773) (4,150) (4,634) (5,056) (4,974) (5,350) (5,400) (6,181) (6,423) (6,770) (7,107) (6,178) (5,567) (4,439) (4,661)
Free Cash Flow 11,575 11,760 12,121 8,463 10,028 14,967 11,863 11,283 12,951 12,934 10,280 10,293 9,563 8,438 8,621 3,093 3,688 2,503 1,758 4,097 5,141 7,354 3,666