IBM Corp

US · IBM #79 by market cap Listed 1970

239.41 +3.02 +1.28%

Live - 5344 symbols - heartbeat 530s ago · 2026-10-20 12:50

✦ Quant Financial Health how this is computed

Good

Altman Z-Score is 3.27, above the 3.0 "safe zone" threshold.
Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.

Revenue annual, last 8 years

Latest year +7.62% YoY

Margins

Gross margin: 58.19%
Operating margin: 18.50%
Net margin: 15.69%

Key ratios & quality

Enterprise value: 273.19B
PEG ratio: 0.25
Altman Z-Score: 3.27

PEG uses trailing P/E against the 3-year net income growth rate (86.23%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.

Income statement

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	79.59B	57.71B	55.18B	57.35B	60.53B	61.86B	62.75B	67.54B
Gross profit	36.94B	31.53B	30.87B	31.49B	32.69B	34.30B	35.55B	39.30B
Selling & admin expenses	19.37B	18.72B	20.56B	18.75B	18.61B	19.00B	17.91B	18.14B
Research & development	5.38B	5.91B	6.26B	6.49B	6.57B	6.78B	7.48B	8.32B
Operating profit	13.22B	7.54B	4.66B	6.87B	8.17B	9.38B	10.07B	12.49B
Pretax profit	11.34B	7.21B	2.57B	4.84B	1.16B	8.69B	5.80B	10.33B
Tax	2.62B	60.00M	-1.36B	124.00M	-626.00M	1.18B	-218.00M	-242.00M
Net profit	8.73B	9.43B	5.59B	5.74B	1.64B	7.50B	6.02B	10.59B
Basic EPS	10	11	6	6	2	8	7	11
Diluted EPS	9.52	10.56	6.23	6.35	1.80	8.14	6.43	11.17

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Revenue	14.54B	16.98B	16.33B	19.69B	15.92B	17.16B
Gross profit	8.03B	9.98B	9.36B	11.93B	8.95B	9.91B
Selling & admin expenses	4.26B	4.67B	4.38B	4.83B	4.40B	4.53B
Research & development	1.95B	2.10B	2.08B	2.19B	2.17B	2.31B
Operating profit	1.77B	3.09B	2.79B	4.85B	2.22B	2.85B
Pretax profit	1.16B	2.60B	2.43B	4.14B	1.39B	2.48B
Tax	103.00M	404.00M	686.00M	-1.44B	172.00M	313.00M
Net profit	1.06B	2.19B	1.74B	5.60B	1.22B	2.17B
Basic EPS	1	2	2	6	1	2
Diluted EPS	1.12	2.31	1.84	5.88	1.28	2.27

Balance sheet

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Total current assets	49.15B	38.42B	39.17B	29.54B	29.12B	32.91B	34.48B	36.94B
Cash & ST investments	12.00B	8.87B	13.79B	7.25B	8.74B	13.44B	14.59B	14.42B
Inventory	1.68B	1.62B	1.81B	1.65B	1.55B	1.16B	1.29B	1.22B
Total assets	123.38B	152.19B	155.97B	132.00B	127.24B	135.24B	137.18B	151.88B
Total current liabilities	38.23B	37.70B	39.87B	33.62B	31.51B	34.12B	33.14B	38.66B
Short-term debt	10.21B	10.18B	8.15B	7.76B	5.63B	7.25B	5.86B	7.22B
Long-term debt	35.61B	54.10B	54.22B	44.92B	46.19B	50.12B	49.88B	54.84B
Total liabilities	106,452,000,000.00	131,201,000,000.00	135,245,000,000.00	113,005,000,000.00	105,222,000,000.00	112,628,000,000.00	109,782,000,000.00	119,139,000,000.00
Total equity	16.93B	20.99B	20.73B	19.00B	22.02B	22.61B	27.39B	32.74B
Retained earnings	159.21B	162.95B	162.72B	154.21B	149.83B	151.28B	151.16B	155.65B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Total current assets	35.34B	34.25B	32.74B	36.94B	31.91B	28.40B
Cash & ST investments	17.47B	15.45B	14.86B	14.42B	11.78B	8.13B
Inventory	1.43B	1.25B	1.40B	1.22B	1.48B	1.75B
Total assets	145.67B	148.59B	146.31B	151.88B	156.23B	152.10B
Total current liabilities	35.11B	37.73B	35.14B	38.66B	40.10B	35.91B
Short-term debt	7.71B	9.77B	8.75B	7.22B	9.45B	6.55B
Long-term debt	56.37B	55.22B	55.17B	54.84B	57.71B	56.21B
Total liabilities	118,715,000,000.00	120,997,000,000.00	118,322,000,000.00	119,139,000,000.00	123,174,000,000.00	117,558,000,000.00
Total equity	26.95B	27.59B	27.99B	32.74B	33.06B	34.54B
Retained earnings	150.70B	151.37B	151.58B	155.65B	155.33B	155.94B

Cash flow

Line item	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	15.25B	14.77B	18.20B	12.80B	10.44B	13.93B	13.45B	13.19B
Depreciation & amortization	4.48B	6.06B	6.70B	6.42B	4.80B	4.40B	4.67B	5.02B
Free cash flow	11.28B	11.86B	14.97B	10.03B	8.46B	12.12B	11.76B	11.46B
Dividends paid	-5.67B	-5.71B	-5.80B	-5.87B	-5.95B	-6.04B	-6.15B	-6.26B
Stock buybacks / issuance	-4.61B	-1.63B	-302.00M	-319.00M	-128.00M	12.00M	94.00M	-308.00M
Ending cash balance	11.60B	8.31B	13.68B	6.96B	7.99B	13.09B	14.16B	13.64B

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
Operating cash flow	4.37B	1.70B	3.08B	4.04B	5.17B	2.60B
Depreciation & amortization	1.18B	1.27B	1.28B	1.30B	1.27B	1.35B
Free cash flow	3.98B	1.33B	2.67B	3.49B	4.78B	2.21B
Dividends paid	-1.55B	-1.56B	-1.57B	-1.57B	-1.58B	-1.59B
Stock buybacks / issuance	-68.00M	32.00M	-280.00M	8.00M	-172.00M	125.00M
Ending cash balance	11.16B	12.03B	11.60B	13.64B	10.86B	7.22B

Returns & efficiency

Line item	2018	2019	2020	2021	2022	2023	2024	2025
ROE %	50.76	50.12	26.98	29.08	8.03	33.73	24.17	35.34
ROA %	7.02	6.84	3.63	3.99	1.26	5.72	4.42	7.33
ROIC %	14.30	13.66	7.33	8.46	3.23	10.49	8.02	12.63
5-year avg ROE %	65.25	61.40	46.60	37.81	32.99	29.59	24.40	26.07
EBIT margin %	15.16	14.92	8.05	10.45	3.92	16.65	11.97	18.16
FCF / sales %	14.18	15.38	20.33	17.49	13.98	19.59	18.74	16.96
Current ratio	1.29	1.02	0.98	0.88	0.92	0.96	1.04	0.96
Quick ratio	1.11	0.87	0.77	0.66	0.73	0.80	0.86	0.80
Debt / assets	37.13	44.79	41.73	41.77	42.45	44.32	42.57	42.54
LT debt / equity	211.99	278.21	276.43	250.67	220.47	233.83	192.40	175.76
Interest coverage	16.69	8.56	4.60	5.19	1.95	6.41	4.39	6.34
Revenue CAGR (3Y) %	-0.89	-10.28	-11.33	-10.35	1.60	3.88	3.05	3.72
Net income CAGR (3Y) %	-12.86	-7.39	-0.95	-13.03	-44.18	10.30	1.61	86.23
FCF CAGR (3Y) %	-4.87	-2.84	4.94	-3.85	-10.65	-6.79	5.45	10.62

Line item	2025-03	2025-06	2025-09	2025-12	2026-03	2026-06
ROE %	21.83	22.64	30.21	35.34	35.93	34.62
ROA %	3.87	4.13	5.63	7.33	7.12	7.13
ROIC %	7.13	7.70	9.97	12.63	11.77	11.87
5-year avg ROE %	--	--	--	--	--	--
EBIT margin %	12.12	12.61	17.39	18.16	18.15	17.90
FCF / sales %	19.00	18.19	18.12	16.96	17.79	19.02
Current ratio	1.01	0.91	0.93	0.96	0.80	0.79
Quick ratio	0.84	0.75	0.76	0.80	0.63	0.59
Debt / assets	45.88	45.58	45.50	42.54	44.68	42.91
LT debt / equity	219.96	210.67	207.20	175.76	183.02	170.46
Interest coverage	4.39	4.44	6.05	6.34	6.41	6.41
Revenue CAGR (3Y) %	--	--	--	--	--	--
Net income CAGR (3Y) %	--	--	--	--	--	--
FCF CAGR (3Y) %	--	--	--	--	--	--

✦ Quant Revenue Concentration how this is computed

Lead segment, long tail

software is the largest reported line at 45.22% of revenue, across 5 reported segments.
Consulting follows at 31.04%, so the top line still matters most but isn’t the whole story.

Revenue breakdown most recent period

Business

software45.22%

Consulting31.04%

Infrastructure22.35%

Financing1.08%

Other revenue0.30%

Quote time 2026-10-20 12:50:14 · For reference only, not investment advice and not tailored to your situation.