Skip to content
ESPT
MARKETS / NYSE / Industrials / Machinery and equipment / IBM
NYSE · COMPUTER & OFFICE EQUIPMENT · LARGE CAP

International Business Machines Corp. IBM

19 fiscal years on record · USD · FY2025 reported · SEC filings only
9 YEARS OF DIVIDEND GROWTH
$67.5B
▲ 7.6% YoY
$10.6B
▲ 75.9% YoY
$12.1B
▼ 2.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Its Consulting segment operates in a market that spans business consulting, systems integration, application development and management, and business process outsourcing services. Its Infrastructure segment provides on-premises and cloud-based server and storage solutions for the hybrid cloud infrastructure market. Its Financing segment provides client and commercial financing, facilitating IBM clients' acquisition of hardware, software and services. IBM partners with a broad variety of companies, including hyperscalers, service providers, global system integrators, and software and hardware vendors. International Business Machines Corporation was incorporated in the State of New York on June 16, 1911, as the Computing-Tabulating-Recording Co., a consolidation of the Computing Scale Co. of America, the Tabulating Machine Co. and The International Time Recording Co. of New York. In 1924, C-T-R changed its name to International Business Machines Corporation.

Written from the business description in INTERNATIONAL BUSINESS MACHINES CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 24 February 2026. Every sentence was checked against that document before publication.

Growth

USD 67.5B
Revenue, FY2025 · full 19-year series below
Revenue $B Net income $B
FY2025 · Revenue 67.5 · Net income 10.6
50B100B
2007201020132016201920222025
Compound annual growth
+3.7%
+4.1%
−1.9%
−2.6%
+86.3%
+13.6%
−2.2%
+83.8%
+12.4%
−1.8%
−0.2%
+0.6%
+0.6%
+1.7%
+1.5%
−4.1%
−7.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +4.1% a year over the five years to FY2025 — but profit grew faster: net income at +13.6%, earnings per share at +12.4%.

The share count rose from 0.89B to 0.94B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

16 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 15.3% · Net 15.7%
10%20%
200720162025
ROE
FY2025 · ROE 35.3%
50%100%
200720162025
Three returns, three denominators.
Return on capital employedNot available: we don't have a clean operating profit figure for this period.
Gross margin58.2%
Operating margin15.3%
Net margin15.7%
EBITDAUSD 12.6B

Each USD of equity produced 35 cents of profit this year.

Cash & shareholders

USD 6.3B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 12.1
10B20B
200720162025
Net buybacks $B Dividends $B
FY2025 · Dividends 6.3 · Net buybacks ·
10B20BDividendsNet buybacks
2007201020132016201920222025
Dividends paidUSD 6.3B
Net buybacks·
Share of profit59.0%
Consecutive raises9 years

USD 6.3B in dividends — 59% of the year's profit went back to shareholders.

Total assetsUSD 151.9B
EquityUSD 32.6B
CashUSD 13.6B
Gross debtUSD 61.3B
Net debtUSD 47.7B
Current ratio0.96×

Net debt stands at 146% of equity.

The 19-year record

19 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
IBM, 19-year financial record
Metric 2025202420232022202120202019201820172016201520142013201220112010200920082007
Revenue $B67.562.861.960.557.455.257.779.679.179.981.792.898.4102.9106.999.995.8103.698.8
Operating income $B10.35.88.71.24.82.67.211.311.412.315.920.020.222.521.019.718.1◌◌
EBITDA $B12.68.010.83.68.76.811.414.514.415.218.623.123.625.924.623.421.9◌◌
Income tax $B−0.2−0.21.2−0.60.1−1.40.12.65.60.42.64.23.45.55.14.94.74.44.1
Net income $B10.66.07.51.65.75.69.48.75.811.913.212.016.516.615.914.813.412.310.4
Free cash flow $B12.112.412.79.110.715.612.511.913.513.513.713.113.915.515.715.417.314.611.5
EPS, diluted $11.176.438.141.806.356.2310.569.526.1412.3813.4211.9014.9414.3713.0611.5210.018.897.15
Dividend / sh $6.716.676.636.596.556.516.436.215.905.50◌◌◌◌◌◌◌◌◌
Payout %591028136310210461659644373525232221212121
ROE %35.324.233.78.029.127.050.150.832.173.0101.069.479.185.273.464.974.458.636.4
Shares out B0.940.930.920.910.900.890.890.890.920.950.970.991.051.121.161.23◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Compare

This company against its peers

International Business Machines Corp.vsApple Inc.Same industry: Computer & office EquipmentInternational Business Machines Corp.vsDell Technologies Inc.Same industry: Computer & office EquipmentInternational Business Machines Corp.vsCaterpillar Inc.Same industry: Computer & office EquipmentInternational Business Machines Corp.vsCisco Systems, Inc.Same industry: Computer & office EquipmentInternational Business Machines Corp.vsHP Inc.Same industry: Computer & office EquipmentInternational Business Machines Corp.vsDeere & Co.Same industry: Computer & office EquipmentInternational Business Machines Corp.vsSuper Micro Computer, Inc.Same industry: Computer & office Equipment
More in this sector

Other companies filing in the same sector

AAPL · F · GM · DELL · TSLA · FDX
Provenance

Company facts, as filed

How we verify · 0 failures in 93 reconciliationsAUDITED

Reconciled in 19 of the 19 fiscal years we could check. Two checks were skipped: the balance sheet is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityComputer & office Equipment
Listed onNYSE
Incorporated inNew York
Fiscal year endsDecember 31
Data on record since2007

Share this section

Download image