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) Return on invested capital
International Business Machines Corporation's return on invested capital over the twelve months to 30 June 2026 was 7.86%, down 0.7 percentage points from fiscal 2025 (8.53%). Over the past ten years it has ranged from 3.73% (fiscal 2020) to 20.3% (fiscal 2015); the current reading is higher than 64% of that period. That is above the Information Technology Services industry median of 0.57% and above the Technology sector median of 0.00%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 8.53% | 0.77 |
| FY2024 | 7.76% | (0.35) |
| FY2023 | 8.11% | 0.79 |
| FY2022 | 7.32% | 1.13 |
| FY2021 | 6.19% | 2.46 |
| FY2020 | 3.73% | (2.03) |
| FY2019 | 5.76% | (9.32) |
| FY2018 | 15.1% | 0.97 |
| FY2017 | 14.1% | (0.21) |
| FY2016 | 14.3% | (6.02) |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| INFY American Noble Gas Inc. compare | 39.4% |
| ACN Accenture PLC compare | 23.8% |
| WIT Wipro Limited compare | 17.0% |
| CTSH Cognizant Technology Solutions Corporation compare | 14.4% |
| BR Broadridge Financial Solutions, Inc. compare | 14.3% |
| CDW CDW Corporation compare | 13.3% |
| IBM International Business Machines Corporation | 7.86% |
| FISV Fiserv, Inc. compare | 5.38% |
| FIS Fidelity National Information Services, Inc. compare | 3.71% |
| Information Technology Services industry median | 0.57% |
| Technology sector median | 0.00% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
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