International Business Machines Corp (IBM) Financial Statements
Industry: Computer & office Equipment
In fiscal 2025, International Business Machines reported revenue of $67.53B, up 7.6% from $62.75B the year before. Net income was $10.59B (a 15.7% net margin), or $11.17 per diluted share. Gross margin was 58.2% and operating margin was 14.4%. Operating activities generated $13.19B of cash, leaving $12.10B of free cash flow. At fiscal year end, International Business Machines held $151.88B in total assets against $119.14B in total liabilities, including $13.59B of cash and equivalents.
Open the full interactive International Business Machines financials → Quarterly statements, key ratios, valuation history and price charts.
International Business Machines Key Stats
| Share Price | $230.78 |
|---|---|
| Market Cap | $219.99B |
| P/E Ratio | 20.7 |
| Revenue YoY Growth | +7.6% |
| 52-Week Range | $204.30 – $326.89 |
| Shares Outstanding | 941.2 million (basic, 2026 Q2) |
International Business Machines Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $73.62B | $57.35B | $60.53B | $61.86B | $62.75B | $67.53B |
| Gross Profit | $35.58B | $31.49B | $32.69B | $34.30B | $35.55B | $39.30B |
| Operating Income | $4.62B | $4.84B | $6.18B | $7.29B | $7.21B | $9.73B |
| Pre-Tax Income | $4.64B | $4.84B | $1.16B | $8.69B | $5.80B | $10.33B |
| Income Tax | -$864.0M | $124.0M | -$626.0M | $1.18B | -$218.0M | -$242.0M |
| Net Income | $5.59B | $5.74B | $1.64B | $7.50B | $6.02B | $10.59B |
| Diluted EPS | $6.23 | $6.35 | $1.80 | $8.14 | $6.43 | $11.17 |
International Business Machines Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $16.33B | $19.69B | $15.92B | $17.16B |
| Net Income | $1.74B | $5.60B | $1.22B | $2.17B |
| Diluted EPS | $1.84 | $5.90 | $1.28 | $2.27 |
International Business Machines Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.21B | $6.65B | $7.89B | $13.07B | $13.95B | $13.59B |
| Current Assets | $39.16B | $29.54B | $29.12B | $32.91B | $34.48B | $36.94B |
| Total Assets | $155.97B | $132.00B | $127.24B | $135.24B | $137.18B | $151.88B |
| Current Liabilities | $39.87B | $33.62B | $31.50B | $34.12B | $33.14B | $38.66B |
| Total Long-Term Debt | $61.41B | $51.68B | $50.94B | $56.55B | $54.94B | $61.26B |
| Total Liabilities | $135.24B | $113.00B | $105.22B | $112.63B | $109.78B | $119.14B |
| Shareholders' Equity | $20.60B | $18.90B | $21.94B | $22.53B | $27.31B | $32.65B |
International Business Machines Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $18.20B | $12.80B | $10.44B | $13.93B | $13.45B | $13.19B |
| Cash From Investing | -$3.03B | -$5.97B | -$4.20B | -$7.07B | -$4.94B | -$10.30B |
| Cash From Financing | -$9.72B | -$13.35B | -$4.96B | -$1.77B | -$7.08B | -$3.83B |
| Free Cash Flow | $15.58B | $10.73B | $9.09B | $12.69B | $12.40B | $12.10B |
Figures from International Business Machines' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full International Business Machines financials page for every line item.
International Business Machines Company Profile
| Ticker | IBM |
|---|---|
| Exchange | NYSE |
| Industry | Computer & office Equipment |
| Headquarters | Armonk, New York |
| Incorporated in | New York |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000051143 |
Frequently Asked Questions
What was International Business Machines' revenue in fiscal 2025?
International Business Machines (IBM) reported revenue of $67.53B for fiscal 2025.
What is International Business Machines' annual revenue history?
International Business Machines' annual revenue by fiscal year: 2020: $73.62B; 2021: $57.35B; 2022: $60.53B; 2023: $61.86B; 2024: $62.75B; 2025: $67.53B.
What was International Business Machines' net income in fiscal 2025?
International Business Machines reported net income of $10.59B for fiscal 2025.
What was International Business Machines' earnings per share (EPS) in fiscal 2025?
International Business Machines' diluted EPS was $11.17 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did International Business Machines generate in fiscal 2025?
International Business Machines generated $12.10B of free cash flow in fiscal 2025.
What was International Business Machines' revenue last quarter?
In its most recent reported quarter (2026 Q2), International Business Machines reported revenue of $17.16B.
How much debt does International Business Machines have?
International Business Machines reported $61.26B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of International Business Machines are outstanding?
International Business Machines reported a weighted average of 941.2 million basic shares outstanding in 2026 Q2.
What is International Business Machines' market cap?
Based on its latest closing price, International Business Machines (IBM) has a market capitalization of about $219.99B.
When does International Business Machines' fiscal year end?
International Business Machines' fiscal year end, as registered with the SEC, is December 31.
Where is International Business Machines headquartered?
International Business Machines lists its business address in Armonk, New York in its SEC filings.