Also trades as: IBM.L (LSE) · $vol 2M · IBM.NE (NEO) · $vol 1M · IBM.DE (XETRA) · $vol 1M · IBMA.BR (BRU) · $vol 0M

$253.84

+0.87 (+0.34%)

Weekly Expected Move ±5.4%

$196 $208 $219 $231 $243

NYSE · Technology · Information Technology Services · Alpha Radar Buy · Power 66 · $238.6B mcap · 938M float · 0.674% daily turnover · Short 43% of daily vol

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$67.5B +7.6% ▲

5Y CAGR: +4.1%

Gross Profit

$40.2B +13.0% ▲

5Y CAGR: +5.4%

Operating Income

$10.3B +2.5% ▲

5Y CAGR: +17.2%

Net Income

$10.6B +75.9% ▲

5Y CAGR: +13.6%

EPS (Diluted)

$11.17 +73.7% ▲

5Y CAGR: +12.4%

EBITDA

$17.3B +42.0% ▲

5Y CAGR: +10.4%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$57.4B	$60.5B	$61.9B	$62.8B	$67.5B
YoY Growth	+3.9%	+5.5%	+2.2%	+1.4%	+7.6%
Cost of Revenue	$25.9B	$27.8B	$27.6B	$27.2B	$27.4B
Gross Profit	$31.5B	$32.7B	$34.3B	$35.6B	$40.2B
Gross Margin	54.9%	54.0%	55.4%	56.7%	59.5%
R&D Expenses	$6.5B	$6.6B	$6.8B	$7.5B	$8.3B
SG&A Expenses	$18.7B	$18.6B	$17.6B	$17.9B	$21.5B
Operating Expenses	$24.6B	$24.5B	$24.5B	$25.5B	$29.9B
Operating Income	$6.9B	$8.2B	$9.8B	$10.1B	$10.3B
Operating Margin	12.0%	13.5%	15.9%	16.1%	15.3%
Interest Expense	$1.2B	$1.2B	$1.6B	$1.7B	$1.9B
Income Before Tax	$4.8B	$1.2B	$8.7B	$5.8B	$10.3B
Tax Expense	$124M	-$626M	$1.2B	-$218M	-$242M
Net Income	$5.7B	$1.6B	$7.5B	$6.0B	$10.6B
Net Margin	10.0%	2.7%	12.1%	9.6%	15.7%
EPS (Diluted)	$6.35	$1.80	$8.14	$6.43	$11.17
EBITDA	$12.4B	$7.2B	$14.7B	$12.2B	$17.3B
Shares Outstanding	905M	912M	922M	937M	949M

Line Item	FY2024 Q2	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1
Revenue	$15.8B	$15.0B	$17.6B	$14.5B	$17.0B	$16.3B	$19.7B	$15.9B
Cost of Revenue	$6.8B	$6.5B	$7.1B	$6.5B	$7.0B	$6.7B	$7.6B	$7.0B
Gross Profit	$8.9B	$8.4B	$10.4B	$8.0B	$10.0B	$9.6B	$12.1B	$8.9B
Gross Margin	56.8%	56.3%	59.5%	55.2%	58.8%	58.7%	61.6%	56.2%
R&D Expenses	$1.8B	$1.9B	$2.0B	$1.9B	$2.1B	$2.1B	$2.2B	$2.2B
SG&A Expenses	$4.6B	$4.3B	$4.6B	$4.3B	$4.7B	$4.7B	$5.8B	$5.1B
Operating Expenses	$6.5B	$6.2B	$6.5B	$6.3B	$6.9B	$6.9B	$8.0B	$7.6B
Operating Income	$2.4B	$2.2B	$3.9B	$1.8B	$3.1B	$2.7B	$4.2B	$1.4B
Operating Margin	15.4%	14.5%	22.2%	12.1%	18.2%	16.3%	21.2%	8.5%
Interest Expense	$427M	$429M	$424M	$455M	$510M	$492M	$478M	$473M
Income Before Tax	$2.2B	-$802M	$3.3B	$1.2B	$2.6B	$2.4B	$4.1B	$1.4B
Tax Expense	$389M	-$485M	$379M	$103M	$404M	$686M	-$1.4B	$172M
Net Income	$1.8B	-$330M	$2.9B	$1.1B	$2.2B	$1.7B	$5.6B	$1.2B
Net Margin	11.6%	-2.2%	16.6%	7.3%	12.9%	10.7%	28.4%	7.6%
EPS (Diluted)	$1.96	$-0.36	$3.09	$1.12	$2.31	$1.84	$5.88	$1.28
EBITDA	$3.8B	$895M	$4.8B	$2.8B	$4.4B	$4.2B	$5.9B	$1.8B
Shares Outstanding	934M	924M	942M	945M	947M	949M	952M	952M

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