Companies / Information Technology
IBM
IBM
IT Consulting & Other Services
IT Consulting & Other ServicesAnalysis in progress
In progress
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health60
Growth44
Profitability73
Cash generation83
Balance sheet34
Dilution control64
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)4.7%Revenue growth (FY)7.6%Revenue CAGR (3y)3.7%Gross margin58.2%Operating margin—Net margin15.7%Free cash flow margin17.9%R&D / revenue12.3%Stock comp / revenue2.5%Net debt / operating cash flow3.61xCurrent ratio0.96Diluted share count change1.2%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| Revenue | $57.4B | $60.5B | $61.9B | $62.8B | $67.5B |
| Gross profit | $31.5B | $32.7B | $34.3B | $35.6B | $39.3B |
| Net income | $5.7B | $1.6B | $7.5B | $6.0B | $10.6B |
| Operating cash flow | $12.8B | $10.4B | $13.9B | $13.4B | $13.2B |
| Capital expenditure | $2.1B | $1.3B | $1.2B | $1.0B | $1.1B |
| Free cash flow | $10.7B | $9.1B | $12.7B | $12.4B | $12.1B |
| R&D | $6.5B | $6.6B | $6.8B | $7.5B | $8.3B |
| Stock-based comp | $982M | $987M | $1.1B | $1.3B | $1.7B |
| Dividends | $5.9B | $5.9B | $6.0B | $6.1B | $6.3B |
| Cash | $6.7B | $7.9B | $13.1B | $13.9B | $13.6B |
| Total debt | $51.7B | $50.9B | $56.5B | $55.0B | $61.3B |
| Equity | $18.9B | $21.9B | $22.5B | $27.3B | $32.6B |
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