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International Business Machines

NYSE: IBM

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232.14 USD

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Information Technology Services
Financials

all figures in US$ Millions except per share data

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Actual
10 year cagr
Help
Where available up to 10y CAGR shown for absolute numbers 10y Average marked A shown for relative numbers such as margins
Fiscal
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Average (A)
Fiscal period end dates
Expand all rows
01Earnings per share
Help
Earnings per share = Net Income / Number of Shares Outstanding
13.4
12.4
6.1
9.5
10.6
6.2
6.4
1.8
8.1
6.4
11.2
(1.8)%
02Free cash flow per share
13.3
13.5
13.8
12.3
13.3
16.7
11.1
9.3
13.1
12.5
12.8
(0.4)%
03Dividends per share
4.8
5.3
5.6
5.9
6.1
6.2
6.3
6.6
6.6
6.7
6.7
3.5%
04Dividends payout, %
37.2%
44.3%
95.7%
64.9%
60.5%
1%
1%
3.6%
80.5%
1%
59.1%
4.7%
PROFIT AND LOSS STATEMENT
05Revenue
81,742
79,920
79,139
79,591
57,714
55,179
57,351
60,530
61,860
62,753
67,536
(1.9)%
06% Change
-
-
-
-
-
-
-
-
-
-
-
(1.9)%
07Cost of revenue
(41,057)
(41,403)
(42,196)
(42,655)
(26,181)
(24,314)
(25,865)
(27,842)
(27,560)
(27,201)
(28,239)
(3.7)%
08Gross profit
40,684
38,516
36,943
36,936
31,533
30,865
31,486
32,687
34,300
35,551
39,297
(0.4)%
09% Margin
49.8%
48.2%
46.7%
46.4%
54.6%
55.9%
54.9%
54%
55.5%
56.7%
58.2%
52.8% A
10Operating expenses
(24,764)
(24,878)
(23,804)
(23,719)
(23,995)
(26,203)
(24,621)
(24,514)
(24,479)
(25,478)
(26,805)
0.8%
11% of Revenue
(30.3)%
(31.1)%
(30.1)%
(29.8)%
(41.6)%
(47.5)%
(42.9)%
(40.5)%
(39.6)%
(40.6)%
(39.7)%
(37.6)% A
12Operating Income
16,508
14,677
13,139
13,217
7,538
4,662
6,865
8,174
9,821
10,074
12,492
(2.8)%
13Income tax expense
(2,581)
(449)
(5,642)
(2,619)
(60)
(1,360)
(124)
(626)
(1,176)
(218)
(242)
-
14Net Income
13,190
11,872
5,753
8,728
9,431
5,590
5,742
1,640
7,502
6,023
10,593
(2.2)%
15% Margin
16.1%
14.9%
7.3%
11%
16.3%
10.1%
10%
2.7%
12.1%
9.6%
15.7%
11.4% A
16Shares Outstanding
982.7
958.7
937.4
916.3
892.8
896.6
904.6
912.3
922.1
937.2
948.7
(0.4)%
17EPS Basic
13.5
12.4
6.2
9.6
10.6
6.3
6.4
1.8
8.2
6.5
11.4
(1.7)%
18EPS Diluted
13.4
12.4
6.1
9.5
10.6
6.2
6.4
1.8
8.1
6.4
11.2
(1.8)%
19EBITDA
20,268
17,341
16,556
16,545
14,609
10,555
12,409
7,174
14,693
12,176
17,284
(1.6)%
% Margin
24.8%
21.7%
20.9%
20.8%
25.3%
19.1%
21.6%
11.9%
23.8%
19.4%
25.6%
21.4% A
20Net Interest Income (expense)
(360)
(522)
(519)
(422)
(673)
(1,183)
(1,103)
(1,054)
(937)
(965)
(1,290)
13.6%
21Net Debt / EBITDA
1.6
2
2.1
2.1
4.1
4.9
3.9
6.4
3.2
3.7
3.1
3.4 A
BALANCE SHEET
ASSETS
Current Assets
22Cash & equivalents
7,686
7,826
11,972
11,379
8,172
13,212
6,650
7,886
13,068
13,947
13,641
5.9%
23Short-term investments
508
701
608
618
696
600
600
852
373
644
830
5%
24Accounts receivable
28,554
29,245
32,101
7,902
8,362
6,215
7,225
7,005
13,956
14,010
17,639
(4.7)%
25Other current assets
4,205
4,563
3,471
27,565
19,571
17,299
13,415
11,823
4,350
4,592
2,530
(5)%
26Inventory
1,551
1,553
1,583
1,682
1,619
1,839
1,649
1,552
1,161
1,289
1,220
(2.4)%
27Total Current Assets
42,504
43,888
49,735
49,146
38,420
39,165
29,539
29,118
32,908
34,482
35,860
(1.7)%
Non-Current Assets
28Net property, plant & equipment
10,727
10,830
11,116
10,792
15,006
9,770
8,916
8,212
8,721
8,929
9,028
(1.7)%
29Long-term investments
5,187
4,585
4,919
226
222
216
1,823
1,617
1,589
1,691
7,708
4%
30Other non-current assets
52,077
58,166
59,586
63,219
98,538
106,820
91,723
88,297
92,023
92,074
99,284
6.7%
31Total Non-Current Assets
67,991
73,581
75,621
74,237
113,766
116,806
102,462
98,126
102,333
102,694
116,020
5.5%
Total Assets
110,495
117,470
125,356
123,382
152,186
155,971
132,001
127,243
135,241
137,175
151,880
3.2%
LIABILITIES
Current Liabilities
32Accounts payable
6,028
6,209
6,451
6,558
4,896
4,033
3,955
4,051
4,132
4,032
4,756
(2.3)%
33Short-term debt
6,461
7,513
6,986
10,207
10,177
8,151
7,760
5,634
7,246
5,857
7,224
1.1%
34Other current liabilities
21,780
22,553
23,926
21,462
22,628
27,685
21,904
21,820
22,744
23,253
26,678
2.1%
35Total Current Liabilities
34,269
36,275
37,363
38,227
37,701
39,869
33,619
31,505
34,122
33,142
38,658
1.2%
Non-Current Liabilities
36Long-term debt
33,428
34,655
39,837
35,643
57,981
56,937
47,379
48,215
52,689
52,539
59,930
6%
37Other non-current liabilities
28,374
28,148
30,431
32,582
35,519
38,439
32,007
25,502
25,817
24,101
20,552
(3.2)%
38Total Non-Current Liabilities
61,802
62,803
70,268
68,225
93,500
95,376
79,386
73,717
78,506
76,640
80,482
2.7%
39Total Liabilities
96,071
99,078
107,631
106,452
131,201
135,245
113,005
105,222
112,628
109,782
119,140
2.2%
SHAREHOLDERS` EQUITY
40Common stock
53,262
53,935
54,566
55,151
55,895
56,556
57,319
58,343
59,643
61,380
63,318
1.7%
41Retained earnings / (deficit)
146,124
152,759
153,126
159,206
162,954
162,717
154,209
149,825
151,276
151,163
155,648
0.6%
42Accumulated other comprehensive income / (loss)
(29,607)
(29,398)
(26,592)
(29,490)
(28,597)
(29,337)
(23,235)
(16,740)
(18,761)
(15,269)
(15,713)
(6.1)%
43Noncontrolling interests
162
146
131
134
144
129
95
77
80
86
93
(5.4)%
44Total shareholders' equity
14,424
18,392
17,725
16,930
20,985
20,726
18,996
22,021
22,613
27,393
32,741
8.5%
45Total Liabilities and shareholders' Equity
110,495
117,470
125,356
123,382
152,186
155,971
132,001
127,243
135,241
137,175
151,880
3.2%
46Total Debt
39,889
42,168
46,824
45,812
68,158
65,088
55,140
54,013
59,935
58,396
67,154
5.4%
47Net Debt
32,203
34,342
34,852
34,433
59,986
51,876
48,490
46,127
46,867
44,449
53,513
5.2%
CASH FLOW STATEMENT
CASH FLOWS FROM OPERATING ACTIVITIES
48Net income (loss)
13,190
11,872
5,753
8,728
9,431
5,590
5,742
1,640
7,502
6,023
10,593
(2.2)%
49Depreciation & amortization
3,855
4,381
4,541
4,480
6,059
6,695
6,417
4,802
4,396
4,667
5,021
2.7%
50Share-based compensation expense
468
544
534
510
679
937
982
987
1,133
1,311
1,715
13.9%
51Changes in working capital and other assets
(258)
287
5,896
1,529
(1,399)
4,975
(345)
3,006
900
1,444
(4,136)
32%
52Net cash flows from operating activities
17,255
17,084
16,724
15,247
14,770
18,197
12,796
10,435
13,931
13,445
13,193
(2.7)%
CASH FLOWS FROM INVESTING ACTIVITIES
53Purchases of property, plant and equipment
(3,579)
(3,567)
(3,229)
(3,395)
(2,286)
(2,618)
(2,062)
(1,346)
(1,245)
(1,048)
(1,738)
(7)%
54Purchases of investments / marketable securities
(3,073)
(5,853)
(4,949)
(7,041)
(3,693)
(6,246)
(3,561)
(5,930)
(11,143)
(7,762)
(10,095)
12.6%
55Proceeds from maturities of marketable securities
2,842
5,692
3,910
6,487
3,961
5,618
3,147
4,665
10,647
6,544
9,704
13.1%
56Other investing activities
(4,390)
(6,808)
(2,828)
(964)
(24,918)
218
(3,499)
(1,591)
(5,329)
(2,671)
(8,173)
6.4%
57Net cash flows from investing activities
(8,200)
(10,536)
(7,096)
(4,913)
(26,936)
(3,028)
(5,975)
(4,202)
(7,070)
(4,937)
(10,302)
2.3%
CASH FLOWS FROM FINANCING ACTIVITIES
58Issuance (repurchases) of common stock, net
(4,557)
(3,628)
(4,533)
(4,614)
(1,633)
(302)
(319)
(407)
(402)
745
710
-
59Dividends paid, net
(4,900)
(5,256)
(5,506)
(5,666)
(5,707)
(5,797)
(5,869)
(5,948)
(6,040)
(6,147)
(6,255)
2.5%
60Debt issuance (repayments), net
19
2,763
3,447
(301)
16,284
(3,714)
(8,115)
1,221
4,497
(880)
2,873
65.2%
61Other financing activities
25
204
174
112
98
92
949
176
176
(797)
(1,157)
-
62Net cash flows from financing activities
(9,413)
(5,917)
(6,418)
(10,469)
9,042
(9,721)
(13,354)
(4,958)
(1,769)
(7,079)
(3,829)
(8.6)%
63Increase (decrease) in cash and cash equivalents
(800)
140
4,146
(630)
(3,291)
5,361
(6,718)
1,031
5,101
1,071
(520)
(4.2)%
64Cash and equivalents, ending balance
7,700
7,826
11,972
11,379
8,172
13,675
6,957
7,988
13,089
14,160
13,640
5.9%
65Free Cash Flow to the Firm (FCFF)
Help
Free Cash Flow to the Firm = Cash Flows from Operating Activities - Capital Expenditures
13,676
13,517
13,495
11,852
12,484
15,579
10,734
9,089
12,686
12,397
11,455
(1.8)%

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