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Profile & Fundamentals

International Business Machines Profile & Fundamentals

Name: International Business Machines financial chart data preview
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Company and Market Context

Company Profile & Ownership

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers hybrid cloud and AI platforms that allow clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment delivers strategy and technology services and intelligent operations, providing business transformation, technology implementation, managed services, application modernization, and AI-powered solutions. The Infrastructure segment provides on-premises and cloud-based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, and facilitates IBM clients' acquisition of hardware, software, and services. It operates a data streaming platform. The company has strategic partnerships with various companies, including hyperscalers, service providers, global system integrators, and software and hardware vendors that include Adobe, Amazon Web Services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. It also has a strategic collaboration with Arm Holdings plc for the development of new dual-architecture hardware that helps enterprises run future AI and data intensive workloads; strategic partnership with three.ws to advance ai-powered 3d agent technology; and collaboration with Lightwell to help strengthen open source software supply chain. Additionally, it offers operational resilience, logistics, and future-ready technology to the UK Ministry of Defence through Team ORION. The company was formerly known as Computing-Tabulating-Recording Co. and changed its name to International Business Machines Corporation in 1924. International Business Machines Corporation was incorporated in 1911 and is headquartered in

Company profile record

International Business Machines

Common Stock · Information Technology · IT Consulting & Other Services

Official website

Company

Company / asset: International Business Machines
Security type: Common Stock
Sector: Information Technology
Industry: IT Consulting & Other Services
HQ: 🇺🇸 United States
Head office: One New Orchard Road, Armonk, NY, United States, 10504

Leadership & scale

Chief executive: Mr. Arvind Krishna
CEO year born: 1963
Full-time employees: 264.3K
Fiscal year end: December
IPO date: 1962-01-02

Fundamentals snapshot

Updated 2026-09-14

Market Cap: USD 218.7B
P/E: 20.4x
Revenue (Q2 26): USD 17.2B
Profit (Q2 26): USD 2.2B
Dividend Yield: 2.1%
Revenue (FY 25): USD 67.5B
Shares in public float: 940.2M
Insider ownership: 0.11%

Reporting & identifiers

Symbol: IBM.NYSE
Listing: 🇺🇸 United States | Dividend Tax: 30%
Ticker Currency: USD
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: US4592001014
Asset ID: equity_49812ec8-b303-53bb-91a7-8f6d041625cd

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

BlackRock Inc77,565,953 shares · 8.23% · Reported 2026-03-31
Vanguard Capital Management, LLC60,845,605 shares · 6.46% · Reported 2026-03-31
State Street Corp54,594,493 shares · 5.79% · Reported 2026-03-31
Vanguard MStar Total Stk Mkt Idx Invest29,928,604 shares · 3.18% · Reported 2026-07-31
Vanguard Portfolio Management, LLC27,660,866 shares · 2.94% · Reported 2026-03-31
Vanguard 500 Index Investor24,676,095 shares · 2.62% · Reported 2026-07-31
Geode Capital Management, LLC23,076,329 shares · 2.45% · Reported 2026-03-31

View more holders (8)

Morgan Stanley - Brokerage Accounts19,630,951 shares · 2.08% · Reported 2026-03-31
JPMorgan Chase & Co18,544,694 shares · 1.97% · Reported 2026-03-31
Capital World Investors16,207,905 shares · 1.72% · Reported 2026-06-30
Bank of America Corp16,063,653 shares · 1.71% · Reported 2026-03-31
iShares Core S&P 500 ETF12,515,766 shares · 1.33% · Reported 2026-08-31
Fidelity 500 Index12,153,695 shares · 1.29% · Reported 2026-07-31
State Street® SPDR® S&P 500® ETF11,516,591 shares · 1.22% · Reported 2026-08-31
Northern Trust Corp10,304,788 shares · 1.09% · Reported 2026-03-31

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The reports agree that the company's recent financial performance has been highly impressive, highlighted by strong revenue growth and a massive surge in net income. This success is driven by a highly profitable shift toward software and hybrid cloud services, alongside a temporary boost from the latest mainframe computer upgrade cycle. However, there is a clear disagreement about the future. Some experts warn that this growth is temporary and will slow down as the mainframe cycle ends and corporate clients cut back on consulting spending. Others believe that the highly profitable software business will continue to grow steadily, offsetting any declines in older divisions. Overall, the company remains a powerful cash-generating machine, producing over thirteen billion dollars in free cash flow, which provides a strong safety net for investors even if growth slows in the near term.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

The company's profit margins are structurally expanding, driven by a highly successful shift away from low-margin hardware services toward high-margin software licensing. Gross margins have reached an impressive sixty percent, proving that the company is successfully transforming its business model. The reports agree that this software-driven margin expansion is highly durable, but they clash on the outlook for the consulting division. Some analysts worry that rising wages and competition for tech talent will squeeze consulting margins, or that new artificial intelligence tools will automate consulting tasks and reduce billable hours. Others believe that the high-margin software business will easily outpace any consulting drag. While the current stock price demands that these high margins continue, the company's strong pricing power in secure enterprise software provides a solid buffer against inflationary pressures.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	79,920,000,000	12,934,000,000	11,872,000,000	48.19	18.36	14.85	16.18
2017-12-31	79,139,000,000	12,951,000,000	5,753,000,000	46.68	16.6	7.27	16.36
2018-12-31	79,591,000,000	11,283,000,000	8,728,000,000	46.41	16.61	10.97	14.18
2019-12-31	57,714,000,000	11,863,000,000	9,431,000,000	54.64	13.06	16.34	20.55
2020-12-31	73,621,000,000	15,155,000,000	5,590,000,000	48.32	9.37	7.59	20.59
2021-12-31	57,351,000,000	10,415,000,000	5,742,000,000	54.9	11.91	10.01	18.16
2022-12-31	60,530,000,000	8,575,000,000	1,640,000,000	54	13.5	2.71	14.17
2023-12-31	61,860,000,000	13,432,000,000	7,502,000,000	55.45	12.15	12.13	21.71
2024-12-31	62,753,000,000	11,760,000,000	6,023,000,000	56.65	16.05	9.6	18.74
2025-12-31	67,536,000,000	12,102,000,000	10,593,000,000	58.19	18.5	15.68	17.92

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	26.63	Trailing four quarters
2024-12-31	34.4	Trailing four quarters
2023-12-31	20.22	Trailing four quarters
2022-12-31	78.68	Annual net income
2021-12-31	21.06	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	928,900,000
2018-01-01	905,200,000
2019-01-01	893,700,000
2020-01-01	899,000,000
2021-01-01	904,641,000
2022-01-01	915,900,000
2023-01-01	927,300,000
2024-01-01	942,400,000
2025-01-01	952,400,000
2026-01-01	952,700,000

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Earnings, Profitability & Valuation
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Capital Expenditure & R&D
- Capital allocation AI review
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Balance Sheet
- Balance sheet AI review
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Dividends & Actions
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Company Events
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