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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) Net margin

Alert me on Net margin

International Business Machines Corporation's net margin over the twelve months to 30 June 2026 was 15.5%, down 0.2 percentage points from fiscal 2025 (15.7%). Over the past ten years it has ranged from 2.71% (fiscal 2022) to 16.3% (fiscal 2019); the current reading is higher than 82% of that period. That is above the Information Technology Services industry median of 2.09% and above the Technology sector median of 0.00%.

Net margin, annual

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Annual newest first

Period Net margin Change (points)
FY2025 15.7% 6.09
FY2024 9.60% (2.53)
FY2023 12.1% 9.42
FY2022 2.71% (7.30)
FY2021 10.0% (0.12)
FY2020 10.1% (6.21)
FY2019 16.3% 5.37
FY2018 11.0% 3.70
FY2017 7.27% (7.59)
FY2016 14.9% (1.28)

Quarterly newest first

Period Net margin Change (points)
Jun 2026 12.6% 4.98
Mar 2026 7.64% (20.81)
Dec 2025 28.5% 17.77
Sep 2025 10.7% (2.24)
42 more quarters

Against its own ten years

Low 2.71% High 16.3%
Ten-year median 11.0%
Current reading's percentile 88

Net margin against peers

Company Net margin
FIS Fidelity National Information Services, Inc. compare 27.6%
INFY American Noble Gas Inc. compare 16.4%
IBM International Business Machines Corporation 15.5%
BR Broadridge Financial Solutions, Inc. compare 15.0%
WIT Wipro Limited compare 13.9%
FISV Fiserv, Inc. compare 13.4%
ACN Accenture PLC compare 11.3%
CTSH Cognizant Technology Solutions Corporation compare 10.3%
CDW CDW Corporation compare 4.60%
Information Technology Services industry median 2.09%
Technology sector median 0.00%
Market median 0.45%

What Net margin is

Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.

Net Income Allotted to Shareholders ÷ Revenue

The full definition of Net margin →

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