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. In the quarter to June 2026, revenue grew 1.09%, EPS fell 2.54%, free cash flow grew 56.5% and total debt fell 3.39%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years, revenue growth for five; insiders bought in the last twelve months.
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International Business Machines Corporation (IBM) Debt to equity
International Business Machines Corporation's debt to equity at the end of the quarter to 30 June 2026 was 1.8×, down 0.1× from fiscal 2025 (1.9×). Over the past ten years it has ranged from 1.9× (fiscal 2025) to 3.0× (fiscal 2019) — the current reading is the lowest in ten years. That is above the Information Technology Services industry median of 0.5× and above the Technology sector median of 0.1×.
Debt to equity, annual
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Annual newest first
| Period | Debt to equity | Change |
|---|---|---|
| FY2025 | 1.9× | (6.76%) |
| FY2024 | 2.0× | (19.75%) |
| FY2023 | 2.5× | 8.08% |
| FY2022 | 2.3× | (14.99%) |
| FY2021 | 2.7× | (8.02%) |
| FY2020 | 3.0× | (1.27%) |
| FY2019 | 3.0× | 10.76% |
| FY2018 | 2.7× | 2.44% |
| FY2017 | 2.6× | 15.22% |
| FY2016 | 2.3× | (17.10%) |
Quarterly newest first
| Period | Debt to equity | Change |
|---|---|---|
| Jun 2026 | 1.8× | (10.61%) |
| Mar 2026 | 2.0× | 7.29% |
| Dec 2025 | 1.9× | (17.02%) |
| Sep 2025 | 2.3× | (3.05%) |
| 42 more quarters | Free account |
Against its own ten years
Debt to equity against peers
| Company | Debt to equity |
|---|---|
| INFY American Noble Gas Inc. compare | 0.0× |
| CTSH Cognizant Technology Solutions Corporation compare | 0.1× |
| WIT Wipro Limited compare | 0.2× |
| ACN Accenture PLC compare | 0.3× |
| FISV Fiserv, Inc. compare | 1.0× |
| FIS Fidelity National Information Services, Inc. compare | 1.1× |
| BR Broadridge Financial Solutions, Inc. compare | 1.1× |
| IBM International Business Machines Corporation | 1.8× |
| CDW CDW Corporation compare | 2.4× |
| Information Technology Services industry median | 0.5× |
| Technology sector median | 0.1× |
| Market median | 0.1× |
What Debt to equity is
Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.
(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)
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