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.
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International Business Machines Corporation (IBM) Price to free cash flow
As of 16 October 2026, International Business Machines Corporation (IBM) trades at a price to free cash flow of 15.8×. Over the past ten years it has ranged from 6.2× (March 2020) to 24.0× (February 2026); the current reading is higher than 84% of that period. That is above the Information Technology Services industry median of 11.6× and below the Technology sector median of 20.0×.
Price to free cash flow, daily
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Annual newest first
| Period | Price to free cash flow | Change |
|---|---|---|
| FY2025 | 22.6× | 44.43% |
| FY2024 | 15.6× | 38.26% |
| FY2023 | 11.3× | (18.54%) |
| FY2022 | 13.9× | 28.97% |
| FY2021 | 10.8× | 58.47% |
| FY2020 | 6.8× | (22.18%) |
| FY2019 | 8.7× | 6.60% |
| FY2018 | 8.2× | (16.91%) |
| FY2017 | 9.9× | (10.01%) |
| FY2016 | 11.0× | 19.49% |
Quarterly newest first
| Period | Price to free cash flow | Change |
|---|---|---|
| Jun 2026 | 19.1× | 9.09% |
| Mar 2026 | 17.5× | (22.36%) |
| Dec 2025 | 22.6× | 8.12% |
| Sep 2025 | 20.9× | (2.13%) |
| 42 more quarters | Free account |
Against its own ten years
Price to free cash flow against peers
| Company | Price to free cash flow |
|---|---|
| FISV Fiserv, Inc. compare | 6.2× |
| FIS Fidelity National Information Services, Inc. compare | 9.6× |
| CTSH Cognizant Technology Solutions Corporation compare | 11.8× |
| ACN Accenture PLC compare | 11.9× |
| INFY American Noble Gas Inc. compare | 13.0× |
| WIT Wipro Limited compare | 15.7× |
| IBM International Business Machines Corporation | 15.8× |
| BR Broadridge Financial Solutions, Inc. compare | 17.0× |
| CDW CDW Corporation compare | 22.2× |
| Information Technology Services industry median | 11.6× |
| Technology sector median | 20.0× |
| Market median | 14.2× |
What Price to free cash flow is
Price to Free Cash Flow Ratio shows how much investors pay for each dollar of cash a company generates after its capital spending.
Stock Price ÷ ((Operating Cash Flow (TTM) + Property, Plant, Equipment Change (Net) (TTM) + Intangible Assets Change (Net) (TTM)) ÷ (Shares (Basic, Weighted) (latest quarter)))
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