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IBM (IBM)

NYSE Information Technology IT Consulting & Other Services S&P 500Dow 30
$245.00
-2.11 (-0.85%)
Close of Nov 06, 2026 · end-of-day data
Source: IBM's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 05, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$79.92B$79.14B$79.59B$57.71B$55.18B$57.35B$60.53B$61.86B$62.75B$67.53B
Cost of revenue$41.40B$42.20B$42.66B$26.18B$24.31B$25.86B$27.84B$27.56B$27.20B$28.24B
Gross profit$38.52B$36.94B$36.94B$31.53B$30.86B$31.49B$32.69B$34.30B$35.55B$39.30B
Research & development$5.73B$5.59B$5.38B$5.91B$6.26B$6.49B$6.57B$6.78B$7.48B$8.32B
Selling, general & admin$20.87B$19.68B$19.37B$18.72B$20.56B$18.75B$18.61B$19.00B$19.69B$20.12B
Interest expense$630.00M$615.00M$723.00M$1.34B$1.29B$1.16B$1.22B$1.61B$1.71B$1.94B
Pre-tax income$12.33B$11.40B$11.34B$7.21B$2.57B$4.84B$1.16B$8.69B$5.80B$10.33B
Income tax$449.00M$5.64B$2.62B$60.00M-$1.36B$124.00M-$626.00M$1.18B-$218.00M-$242.00M
Net income$11.87B$5.75B$8.73B$9.43B$5.59B$5.74B$1.64B$7.50B$6.02B$10.59B
EPS (basic)$12.43$6.17$9.57$10.63$6.28$6.41$1.82$8.23$6.53$11.36
EPS (diluted)$12.38$6.14$9.52$10.56$6.23$6.35$1.80$8.14$6.43$11.17
Diluted shares958.71M937.39M916.32M892.81M896.56M904.64M912.27M922.07M937.16M948.68M
Gross margin48.2%46.7%46.4%54.6%55.9%54.9%54.0%55.4%56.7%58.2%
Net margin14.9%7.3%11.0%16.3%10.1%10.0%2.7%12.1%9.6%15.7%

Balance sheet

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash & equivalents$7.83B$11.97B$11.38B$8.17B$13.19B$6.65B$7.89B$13.07B$13.95B$13.59B
Short-term investments$701.00M$608.00M$618.00M$696.00M$600.00M—————
Receivables$9.18B$8.93B$7.43B$7.87B$5.79B$6.75B$6.54B$7.21B$6.80B$8.11B
Inventory$1.55B$1.58B$1.68B$1.62B$1.81B$1.65B$1.55B$1.16B$1.29B$1.22B
Total current assets$43.89B$49.73B$49.15B$38.42B$39.16B$29.54B$29.12B$32.91B$34.48B$36.94B
Goodwill$36.20B$36.79B$36.27B$52.47B$53.77B$55.64B$55.95B$60.18B$60.71B$67.72B
Total assets$117.47B$125.36B$123.38B$152.19B$155.97B$132.00B$127.24B$135.24B$137.18B$151.88B
Total current liabilities$36.27B$37.36B$38.23B$37.70B$39.87B$33.62B$31.50B$34.12B$33.14B$38.66B
Short-term debt$7.51B$6.99B$10.21B$8.80B$7.12B$6.79B$4.76B$6.43B$5.09B$6.42B
Long-term debt$34.66B$39.84B$35.60B$54.10B$54.22B$44.92B$46.19B$50.12B$49.88B$54.84B
Total debt$42.17B$46.82B$45.81B$62.90B$61.33B$51.70B$50.95B$56.55B$54.97B$61.26B
Total liabilities$99.08B$107.63B$106.45B$131.20B$135.24B$113.00B$105.22B$112.63B$109.78B$119.14B
Shareholders' equity$18.25B$17.59B$16.80B$20.84B$20.60B$18.90B$21.94B$22.53B$27.31B$32.65B

Cash flow

fiscal years · USD
Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow$17.08B$16.72B$15.25B$14.77B$18.20B$12.80B$10.44B$13.93B$13.45B$13.19B
Capital expenditures$3.57B$3.23B$3.40B$2.29B$2.62B$2.06B$1.35B$1.25B$1.05B$1.09B
Free cash flow$13.52B$13.49B$11.85B$12.48B$15.58B$10.73B$9.09B$12.69B$12.40B$12.10B
Investing cash flow-$10.93B-$7.08B-$4.91B-$26.94B-$3.03B-$5.97B-$4.20B-$7.07B-$4.94B-$10.30B
Financing cash flow-$5.92B-$6.42B-$10.47B$9.04B-$9.72B-$13.35B-$4.96B-$1.77B-$7.08B-$3.83B
Dividends paid$5.26B$5.51B$5.67B$5.71B$5.80B$5.87B$5.95B$6.04B$6.15B$6.25B
Share buybacks$3.50B$4.34B$4.44B$1.36B——————
Stock-based compensation$544.00M$534.00M$510.00M$679.00M$937.00M$982.00M$987.00M$1.13B$1.31B$1.72B
Depreciation & amortization$2.84B$3.02B$3.13B$4.21B$4.23B$3.89B$2.41B$2.11B$2.17B$2.28B

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.