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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.

227.13 0.52 +0.23%
Market cap
$214.0B
P/E
19.8×
Fwd P/E
27.7×
Dividend yield
2.98%
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/FCF

Alert me on EV/FCF

As of 9 October 2026, International Business Machines Corporation (IBM) trades at a EV/FCF of 19.3×. Over the past ten years it has ranged from 9.3× (December 2018) to 28.0× (June 2026); the current reading is higher than 83% of that period.

EV/FCF, daily

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Annual newest first

Period EV/FCF Change
FY2025 26.4× 40.96%
FY2024 18.7× 28.15%
FY2023 14.6× (20.79%)
FY2022 18.5× 25.29%
FY2021 14.7× 50.67%
FY2020 9.8× (24.00%)
FY2019 12.9× 17.36%
FY2018 11.0× (10.78%)
FY2017 12.3× (8.04%)
FY2016 13.4× 17.01%

Quarterly newest first

Period EV/FCF Change
Jun 2026 23.0× 5.88%
Mar 2026 21.7× (17.69%)
Dec 2025 26.4× 6.87%
Sep 2025 24.7× (1.65%)
42 more quarters

Against its own ten years

Low 9.3× High 28.0×
Ten-year median 13.4×
Current reading's percentile 82

EV/FCF against peers

Company EV/FCF
ACN Accenture PLC compare 10.6×
INFY American Noble Gas Inc. compare 10.6×
CTSH Cognizant Technology Solutions Corporation compare 10.8×
WIT Wipro Limited compare 12.0×
FISV Fiserv, Inc. compare 12.5×
FIS Fidelity National Information Services, Inc. compare 17.6×
BR Broadridge Financial Solutions, Inc. compare 18.9×
IBM International Business Machines Corporation 19.3×
CDW CDW Corporation compare 27.3×

What EV/FCF is

EV/Free CF shows how the value of a whole company, debt included, compares with the free cash its business produces.

((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)) ÷ (Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM))

The full definition of EV/FCF →

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