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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. 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.

232.56 1.56 −0.67%
Market cap
$220.6B
P/E
20.3×
Fwd P/E
27.7×
Dividend yield
2.90%
F-score
6/9
Altman Z
3.49
Beneish M
−2.41
Dividend safety
64/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

International Business Machines Corporation (IBM) EV/EBITDA

Alert me on EV/EBITDA

As of 16 October 2026, International Business Machines Corporation (IBM) trades at a EV/EBITDA of 16.7×. Over the past ten years it has ranged from 7.5× (February 2016) to 23.9× (June 2025); the current reading is higher than 82% of that period. That is above the Information Technology Services industry median of 9.7× and above the Technology sector median of 15.3×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 20.3× 9.34%
FY2024 18.6× 26.31%
FY2023 14.7× 6.75%
FY2022 13.8× 6.63%
FY2021 12.9× (9.93%)
FY2020 14.4× 11.07%
FY2019 12.9× 62.47%
FY2018 8.0× (24.77%)
FY2017 10.6× (7.44%)
FY2016 11.4× 34.36%

Quarterly newest first

Period EV/EBITDA Change
Jun 2026 19.5× 14.00%
Mar 2026 17.1× (15.80%)
Dec 2025 20.3× (1.99%)
Sep 2025 20.8× (9.35%)
42 more quarters

Against its own ten years

Low 7.5× High 23.9×
Ten-year median 12.9×
Current reading's percentile 82

EV/EBITDA against peers

Company EV/EBITDA
FISV Fiserv, Inc. compare 6.6×
CTSH Cognizant Technology Solutions Corporation compare 7.8×
FIS Fidelity National Information Services, Inc. compare 8.3×
WIT Wipro Limited compare 9.4×
INFY American Noble Gas Inc. compare 9.9×
ACN Accenture PLC compare 10.3×
CDW CDW Corporation compare 12.4×
BR Broadridge Financial Solutions, Inc. compare 13.1×
IBM International Business Machines Corporation 16.7×
Information Technology Services industry median 9.7×
Technology sector median 15.3×
Market median 11.0×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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