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International Business Machines Corporation IBM

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247.11 USD -7.21 (-2.84%)

At closeNov 6, 2026, 6:03 AM EST

243.00 -4.11 -1.66%

Pre-market · Nov 6, 6:03 AM ET

245.74 Day range 256.18
199.19 52-week range 332.46
YTD
-16.58%
1 year
-20.90%

Financial health

Altman Z-Score

3.27 Safe zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

5 / 9 Average

Nine pass/fail tests of profitability, leverage and efficiency.

Rating

B+3 / 5 overall

  • DCF 4
  • Return on Equity 5
  • Return on Assets 4
  • Debt / Equity 1
  • P/E 3
  • P/B 2

Valuation

P/E 26.1×
FY 2016: 13.4×FY 2017: 24.9×FY 2018: 11.9×FY 2019: 12.6×FY 2020: 20.0×FY 2021: 20.9×FY 2022: 77.4×FY 2023: 19.9×FY 2024: 33.7×FY 2025: 26.1×
FY 2016 5y median 26.1× FY 2025
P/S 4.1×
FY 2016: 2.0×FY 2017: 1.8×FY 2018: 1.3×FY 2019: 2.1×FY 2020: 2.0×FY 2021: 2.1×FY 2022: 2.1×FY 2023: 2.4×FY 2024: 3.3×FY 2025: 4.1×
FY 2016 5y median 2.4× FY 2025
P/B 8.5×
FY 2016: 8.7×FY 2017: 8.1×FY 2018: 6.2×FY 2019: 5.7×FY 2020: 5.4×FY 2021: 6.3×FY 2022: 5.8×FY 2023: 6.6×FY 2024: 7.5×FY 2025: 8.5×
FY 2016 5y median 6.6× FY 2025
P/FCF 22.8×
FY 2016: 12.3×FY 2017: 11.0×FY 2018: 9.2×FY 2019: 10.0×FY 2020: 7.5×FY 2021: 11.9×FY 2022: 15.0×FY 2023: 12.3×FY 2024: 17.5×FY 2025: 22.8×
FY 2016 5y median 15.0× FY 2025
EV/EBITDA 19.1×
FY 2016: 11.1×FY 2017: 10.7×FY 2018: 8.3×FY 2019: 12.2×FY 2020: 15.5×FY 2021: 13.6×FY 2022: 24.2×FY 2023: 13.3×FY 2024: 20.6×FY 2025: 19.1×
FY 2016 5y median 19.1× FY 2025
EV/Sales 4.9×
FY 2016: 2.4×FY 2017: 2.2×FY 2018: 1.7×FY 2019: 3.1×FY 2020: 3.0×FY 2021: 2.9×FY 2022: 2.9×FY 2023: 3.2×FY 2024: 4.0×FY 2025: 4.9×
FY 2016 5y median 3.2× FY 2025
FCF Yield 4.4%
FY 2016: 8.2%FY 2017: 9.0%FY 2018: 10.9%FY 2019: 10.0%FY 2020: 13.4%FY 2021: 8.4%FY 2022: 6.7%FY 2023: 8.1%FY 2024: 5.7%FY 2025: 4.4%
FY 2016 5y median 6.7% FY 2025

Profitability

Gross Margin 58.2%
FY 2016: 48.2%FY 2017: 46.7%FY 2018: 46.4%FY 2019: 54.6%FY 2020: 55.9%FY 2021: 54.9%FY 2022: 54.0%FY 2023: 55.4%FY 2024: 56.7%FY 2025: 58.2%
FY 2016 5y median 55.4% FY 2025
Operating Margin 18.5%
FY 2016: 18.4%FY 2017: 16.6%FY 2018: 16.6%FY 2019: 13.1%FY 2020: 8.4%FY 2021: 12.0%FY 2022: 13.5%FY 2023: 15.9%FY 2024: 16.1%FY 2025: 18.5%
FY 2016 5y median 15.9% FY 2025
Net Margin 15.7%
FY 2016: 14.9%FY 2017: 7.3%FY 2018: 11.0%FY 2019: 16.3%FY 2020: 10.1%FY 2021: 10.0%FY 2022: 2.7%FY 2023: 12.1%FY 2024: 9.6%FY 2025: 15.7%
FY 2016 5y median 10.0% FY 2025
ROE 32.4%
FY 2016: 65.1%FY 2017: 32.7%FY 2018: 52.0%FY 2019: 45.3%FY 2020: 27.1%FY 2021: 30.4%FY 2022: 7.5%FY 2023: 33.3%FY 2024: 22.1%FY 2025: 32.4%
FY 2016 5y median 30.4% FY 2025
ROIC 10.4%
FY 2016: 15.9%FY 2017: 7.0%FY 2018: 10.7%FY 2019: 6.0%FY 2020: 3.8%FY 2021: 6.3%FY 2022: 8.1%FY 2023: 7.8%FY 2024: 9.2%FY 2025: 10.4%
FY 2016 5y median 8.1% FY 2025
ROA 7.0%
FY 2016: 10.1%FY 2017: 4.6%FY 2018: 7.1%FY 2019: 6.2%FY 2020: 3.6%FY 2021: 4.3%FY 2022: 1.3%FY 2023: 5.5%FY 2024: 4.4%FY 2025: 7.0%
FY 2016 5y median 4.4% FY 2025

Growth (YoY)

Revenue 7.6%
FY 2016: -2.2%FY 2017: -1.0%FY 2018: 0.6%FY 2019: -27.5%FY 2020: -4.4%FY 2021: 3.9%FY 2022: 5.5%FY 2023: 2.2%FY 2024: 1.4%FY 2025: 7.6%
FY 2016 FY 2025
Operating Income 24.0%
FY 2016: -11.1%FY 2017: -10.5%FY 2018: 0.6%FY 2019: -43.0%FY 2020: -38.2%FY 2021: 47.3%FY 2022: 19.1%FY 2023: 20.1%FY 2024: 2.6%FY 2025: 24.0%
FY 2016 FY 2025
EPS (diluted) 73.7%
FY 2016: -7.7%FY 2017: -50.4%FY 2018: 55.2%FY 2019: 10.8%FY 2020: -41.0%FY 2021: 6.6%FY 2022: -71.7%FY 2023: 352.2%FY 2024: -21.0%FY 2025: 73.7%
FY 2016 FY 2025
Free Cash Flow 2.9%
FY 2016: -1.3%FY 2017: 0.1%FY 2018: -12.9%FY 2019: 5.1%FY 2020: 26.2%FY 2021: -33.0%FY 2022: -15.6%FY 2023: 43.2%FY 2024: -3.0%FY 2025: 2.9%
FY 2016 FY 2025

Financial Health

Current Ratio 0.9×
FY 2016: 1.2×FY 2017: 1.3×FY 2018: 1.3×FY 2019: 1.0×FY 2020: 1.0×FY 2021: 0.9×FY 2022: 0.9×FY 2023: 1.0×FY 2024: 1.0×FY 2025: 0.9×
FY 2016 5y median 0.9× FY 2025
Quick Ratio 0.9×
FY 2016: 1.2×FY 2017: 1.3×FY 2018: 1.2×FY 2019: 1.0×FY 2020: 0.9×FY 2021: 0.8×FY 2022: 0.9×FY 2023: 0.9×FY 2024: 1.0×FY 2025: 0.9×
FY 2016 5y median 0.9× FY 2025
Debt / Equity 2.1×
FY 2016: 2.3×FY 2017: 2.7×FY 2018: 2.7×FY 2019: 3.3×FY 2020: 3.2×FY 2021: 2.9×FY 2022: 2.5×FY 2023: 2.7×FY 2024: 2.1×FY 2025: 2.1×
FY 2016 5y median 2.5× FY 2025
Net Debt / EBITDA 3.1×
FY 2016: 2.0×FY 2017: 2.1×FY 2018: 2.1×FY 2019: 4.1×FY 2020: 4.9×FY 2021: 3.9×FY 2022: 6.4×FY 2023: 3.2×FY 2024: 3.7×FY 2025: 3.1×
FY 2016 5y median 3.7× FY 2025
Interest Coverage 6.5×
FY 2016: 23.3×FY 2017: 19.8×FY 2018: 19.3×FY 2019: 7.4×FY 2020: 3.6×FY 2021: 5.9×FY 2022: 6.7×FY 2023: 6.1×FY 2024: 5.9×FY 2025: 6.5×
FY 2016 5y median 6.1× FY 2025

Dividends

Dividend Yield 2.3%
FY 2016: 3.3%FY 2017: 3.8%FY 2018: 5.5%FY 2019: 4.8%FY 2020: 5.2%FY 2021: 4.9%FY 2022: 4.7%FY 2023: 4.1%FY 2024: 3.0%FY 2025: 2.3%
FY 2016 5y median 4.1% FY 2025
Payout Ratio 59.0%
FY 2016: 44.3%FY 2017: 95.7%FY 2018: 64.9%FY 2019: 60.5%FY 2020: 103.7%FY 2021: 102.2%FY 2022: 362.7%FY 2023: 80.5%FY 2024: 102.1%FY 2025: 59.0%
FY 2016 5y median 102.1% FY 2025

Annual · latest fiscal year ends 2025-12-31