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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%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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International Business Machines Corporation (IBM) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, International Business Machines Corporation (IBM) trades at a EV/EBITDA of 17.3×. Over the past ten years it has ranged from 7.5× (February 2016) to 23.9× (June 2025); the current reading is higher than 85% of that period. That is above the Information Technology Services industry median of 9.8× and above the Technology sector median of 14.5×.

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× (10.70%)
FY2020 14.5× 11.10%
FY2019 13.0× 62.34%
FY2018 8.0× (24.82%)
FY2017 10.7× (7.46%)
FY2016 11.5× 35.72%

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 15.7× (19.61%)
Jun 2026 19.5× 14.00%
Mar 2026 17.1× (15.80%)
Dec 2025 20.3× (1.99%)
43 more quarters

Against its own ten years

Low 7.5× High 23.9×
Ten-year median 12.9×
Current reading's percentile 85

EV/EBITDA against peers

Company EV/EBITDA
CTSH Cognizant Technology Solutions Corporation compare 7.5×
FISV Fiserv, Inc. compare 7.5×
LDOS Leidos Holdings, Inc. compare 9.4×
WIT Wipro Limited compare 9.7×
INFY American Noble Gas Inc. compare 10.2×
ACN Accenture PLC compare 11.6×
CDW CDW Corporation compare 12.6×
BR Broadridge Financial Solutions, Inc. compare 14.3×
IBM International Business Machines Corporation 17.3×
Information Technology Services industry median 9.8×
Technology sector median 14.5×
Market median 10.9×

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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