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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%

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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

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International Business Machines Corporation (IBM) Price to free cash flow

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As of 5 November 2026, International Business Machines Corporation (IBM) trades at a price to free cash flow of 15.9×. Over the past ten years it has ranged from 6.3× (March 2020) to 24.0× (February 2026); the current reading is higher than 85% of that period. That is above the Information Technology Services industry median of 13.5× and below the Technology sector median of 18.7×.

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<iframe src="https://stockrow.com/embed/IBM/price-to-free-cash-flow" width="100%" height="360" style="border:0" loading="lazy" title="International Business Machines Corporation price to free cash flow, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/IBM/metrics/price-to-free-cash-flow">International Business Machines Corporation (IBM) price to free cash flow — stockrow.com</a></p>

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×	56.52%
FY2020	6.9×	(22.17%)
FY2019	8.8×	6.60%
FY2018	8.3×	(16.90%)
FY2017	10.0×	(10.01%)
FY2016	11.1×	20.97%

Period	Price to free cash flow	Change
Sep 2026	14.1×	(26.26%)
Jun 2026	19.1×	9.09%
Mar 2026	17.5×	(22.36%)
Dec 2025	22.6×	8.12%
43 more quarters	Free account

Against its own ten years

Low 6.3× High 24.0×

Ten-year median 10.8×

Current reading's percentile 85

Company	Price to free cash flow
LDOS Leidos Holdings, Inc. compare	8.5×
FISV Fiserv, Inc. compare	10.6×
CTSH Cognizant Technology Solutions Corporation compare	12.7×
ACN Accenture PLC compare	14.0×
INFY American Noble Gas Inc. compare	14.3×
WIT Wipro Limited compare	14.6×
IBM International Business Machines Corporation	15.9×
BR Broadridge Financial Solutions, Inc. compare	17.6×
CDW CDW Corporation compare	21.4×
Information Technology Services industry median	13.5×
Technology sector median	18.7×
Market median	14.1×

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)))

The full definition of Price to free cash flow →

International Business Machines Corporation (IBM) Price to free cash flow

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Against its own ten years

Price to free cash flow against peers

What Price to free cash flow is

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Price to free cash flow against peers

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