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International Business Machines Corporation

IBM Technology Information Technology Services

International Business Machines Corporation’s revenue for fiscal 2025 (year ended December 2025) was $67.5 billion, up 7.62% from fiscal 2024.

Revenue: +4.73%
EPS: +24.1%
Free cash flow: +31.3%
Total debt: +1.11%

Quarter to September 2026, against a year earlier

248.25 6.07 −2.39%

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Market cap: $233.6B
P/E: 20.9×
Fwd P/E: 25.8×
Dividend yield: 2.72%
F-score: 6/9
Altman Z: 3.49
Beneish M: −2.41
Dividend safety: 64/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

	Sep '26	Jun '26	Mar '26	Dec '25	Older periods
Piotroski F-Score Full definition →	6	7	7	6	+8 more TTM periods Free account
ROE Full definition →	34.80%	34.52%	35.84%	35.23%
ROA Full definition →	7.41%	7.13%	7.12%	7.33%
ROIC Full definition →	7.94%	7.86%	8.10%	8.53%
Return on Tangible Assets Full definition →	1,489.47%	(603.21%)	(446.97%)	253.12%
Average Days of Receivables Full definition →	39.01	39.05	40.97	49.53
Free Cash Flow per Share Full definition →	15.59	14.70	13.82	13.11
Free Cash Flow Full definition →	14,719.00	13,831.00	12,968.00	12,223.00
Capital Expenditures Full definition →	(1,112.00)	(1,057.00)	(1,024.00)	(970.00)
Other line items
Cash ROIC Full definition →	13.24%	13.21%	11.66%	11.27%
Accounts Receivable Turnover Full definition →	9.86	9.50	9.51	7.99
Accounts Payable Turnover Full definition →	7.03	6.92	7.53	6.43
Inventory Turnover Full definition →	17.58	19.32	19.74	22.51
Average Days of Payables Full definition →	55.81	55.41	51.37	61.47
Days of Inventory on Hand Full definition →	24.17	22.01	18.77	15.77
Tax Rate Full definition →	0.06	0.03	0.02	0.02
Research and Development Expense of Revenue Full definition →	12.95%	12.67%	12.39%	12.31%
Selling, General and Administrative Expense of Revenue Full definition →	28.84%	29.35%	29.50%	29.80%
Share Based Compensation of Revenue Full definition →	2.82%	2.72%	2.64%	2.54%
Interest Coverage Full definition →	5.86	5.76	5.81	5.61
Operating CF/Net income Full definition →	1.42	1.39	1.30	1.25
Depreciation/Fixed assets Full definition →	0.88	0.91	0.89	0.85
Capex/Depreciation Full definition →	(0.21)	(0.20)	(0.20)	(0.19)
Revenue per Share Full definition →	73.98	73.41	73.43	72.44
Operating CF per Share Full definition →	16.76	15.82	14.91	14.15
Capex per Share Full definition →	(1.18)	(1.12)	(1.09)	(1.04)
Capex to Sales Full definition →	0.02	0.02	0.01	0.01

Show all line items

Columns are period end dates · fundamentals updated 2 Nov 2026

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