International Business Machines Corp
IBM- Exchange
- NYSE
- Industry
- Computer & office Equipment
- SEC CIK
- 0000051143
In the last 90 days, International Business Machines Corp insiders filed 0 open-market purchases and 1 sale; 3,662 institutions reported holding it in 13F filings for Q2 2026, worth $172.1B in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 23, 2026, 1:07 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 28, 2026 | Jan 29, 2025 | Jan 24, 2024 | Jan 25, 2023 | Jan 24, 2022 |
| Revenue | $67.5B | $62.8B | $61.9B | $60.5B | $57.4B |
| Cost of revenue | $28.2B | $27.2B | $27.6B | $27.8B | $25.9B |
| Gross profit | $39.3B | $35.6B | $34.3B | $32.7B | $31.5B |
| Research and development | $8.32B | $7.48B | $6.78B | $6.57B | $6.49B |
| Selling, general and administrative | $20.1B | $19.7B | $19.0B | $18.6B | $18.7B |
| Interest expense | $1.94B | $1.71B | $1.61B | $1.22B | $1.16B |
| Income tax | -$242.0M | -$218.0M | $1.18B | -$626.0M | $124.0M |
| Net income | $10.6B | $6.02B | $7.50B | $1.64B | $5.74B |
| EPS, basic | $11.36 | $6.53 | $8.23 | $1.82 | $6.41 |
| EPS, diluted | $11.17 | $6.43 | $8.14 | $1.80 | $6.35 |
| Weighted shares, basic | 932.3M | 921.8M | 911.2M | 902.7M | 896.0M |
| Weighted shares, diluted | 948.7M | 937.2M | 922.1M | 912.3M | 904.6M |
| Margins and growth | |||||
| Gross margin | 58.2% | 56.7% | 55.4% | 54.0% | 54.9% |
| Net margin | 15.7% | 9.6% | 12.1% | 2.7% | 10.0% |
| Revenue growth, year over year | +7.6% | +1.4% | +2.2% | +5.5% | −22.1% |
| Net income growth, year over year | +75.9% | −19.7% | +357.7% | −71.5% | +2.7% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 28, 2026 | Jan 29, 2025 | Jan 24, 2024 | Jan 25, 2023 | Jan 24, 2022 |
| Cash and equivalents | $13.6B | $13.9B | $13.1B | $7.89B | $6.65B |
| Accounts receivable | $8.11B | $6.80B | $7.21B | $6.54B | $6.75B |
| Inventory | $1.22B | $1.29B | $1.16B | $1.55B | $1.65B |
| Total current assets | $36.9B | $34.5B | $32.9B | $29.1B | $29.5B |
| Property, plant and equipment | – | – | – | $5.33B | $5.69B |
| Goodwill | $67.7B | $60.7B | $60.2B | $55.9B | $55.6B |
| Intangible assets | $11.4B | $10.7B | $11.0B | $11.2B | $12.5B |
| Total assets | $151.9B | $137.2B | $135.2B | $127.2B | $132.0B |
| Accounts payable | $4.76B | $4.03B | $4.13B | $4.05B | $3.96B |
| Short-term debt | $6.42B | $5.09B | $6.43B | $4.76B | $6.79B |
| Total current liabilities | $38.7B | $33.1B | $34.1B | $31.5B | $33.6B |
| Long-term debt | $54.8B | $49.9B | $50.1B | $46.2B | $44.9B |
| Total liabilities | $119.1B | $109.8B | $112.6B | $105.2B | $113.0B |
| Shareholders' equity | $32.7B | $27.4B | $22.6B | $22.0B | $19.0B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Jan 28, 2026 | Jan 29, 2025 | Jan 24, 2024 | Jan 25, 2023 | Jan 24, 2022 |
| Operating cash flow | $13.2B | $13.4B | $13.9B | $10.4B | $12.8B |
| Capital expenditures | $1.09B | $1.05B | $1.25B | $1.35B | $2.06B |
| Free cash flow | $12.1B | $12.4B | $12.7B | $9.09B | $10.7B |
| Stock-based compensation | $1.72B | $1.31B | $1.13B | $987.0M | $982.0M |
| Dividends paid | $6.25B | $6.15B | $6.04B | $5.95B | $5.87B |
| Investing cash flow | -$10.3B | -$4.94B | -$7.07B | -$4.20B | -$5.97B |
| Financing cash flow | -$3.83B | -$7.08B | -$1.77B | -$4.96B | -$13.4B |
| Net change in cash | -$520.0M | $1.07B | $5.10B | $1.03B | -$6.72B |
| Ratio | |||||
| Stock-based compensation, % of revenue | 2.5% | 2.1% | 1.8% | 1.6% | 1.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Sep 30, 2026 | 945.1M | +1.1% | SEC |
| Jun 30, 2026 | 942.1M | +1.1% | SEC |
| Mar 31, 2026 | 939.9M | +1.1% | SEC |
| Feb 10, 2026 | 938.0M | +1.2% | SEC |
| Sep 30, 2025 | 934.7M | +1.1% | SEC |
| Jun 30, 2025 | 931.5M | +1.1% | SEC |
| Mar 31, 2025 | 929.4M | +1.2% | SEC |
| Feb 10, 2025 | 927.3M | +1.1% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.