International Business Machines Corporation IBM
225.51
(1.55)
(0.68%)
as of 25 Sep
- Market cap
- $214.4B
- P/E
- 19.7×
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International Business Machines Corporation (IBM) Operating margin
International Business Machines Corporation's operating margin over the twelve months to 30 June 2026 was 16.1%, down 0.0 percentage points from fiscal 2025 (16.1%). Over the past ten years it has ranged from 7.33% (fiscal 2020) to 18.4% (fiscal 2015); the current reading is higher than 91% of that period. That is above the Information Technology Services industry median of 3.30% and above the Technology sector median of 0.08%.
Operating margin, annual
Annual
| Period | Operating margin | Change (points) |
|---|---|---|
| FY2025 | 16.1% | 2.72 |
| FY2024 | 13.4% | (0.42) |
| FY2023 | 13.8% | 1.37 |
| FY2022 | 12.4% | 1.51 |
| FY2021 | 10.9% | 3.57 |
| FY2020 | 7.33% | (4.63) |
| FY2019 | 12.0% | (3.36) |
| FY2018 | 15.3% | 0.57 |
| FY2017 | 14.8% | (0.17) |
| FY2016 | 14.9% | (3.44) |
Quarterly
| Period | Operating margin | Change (points) |
|---|---|---|
| Jun 2026 | 15.2% | 4.63 |
| Mar 2026 | 10.6% | (11.12) |
| Dec 2025 | 21.7% | 6.23 |
| Sep 2025 | 15.5% | (1.31) |
| 42 more quarters | Free account |
Against its own ten years
Low 7.33%
High 18.4%
Ten-year median
13.8%
Current reading's percentile
91
Operating margin against peers
| Company | Operating margin |
|---|---|
| FISV Fiserv, Inc. compare | 22.3% |
| INFY American Noble Gas Inc. compare | 20.3% |
| BR Broadridge Financial Solutions, Inc. compare | 17.4% |
| WIT Wipro Limited compare | 16.3% |
| IBM International Business Machines Corporation | 16.1% |
| CTSH Cognizant Technology Solutions Corporation compare | 15.9% |
| FIS Fidelity National Information Services, Inc. compare | 15.7% |
| ACN Accenture PLC compare | 14.5% |
| CDW CDW Corporation compare | 7.14% |
| Information Technology Services industry median | 3.30% |
| Technology sector median | 0.08% |
| Market median | 0.00% |
What Operating margin is
EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.
EBIT ÷ Revenue
More on IBM
- Revenue
- Net income
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- The full statement