International Business Machines Corporation

International Business Machines Corporation

IBM.TO
International Business Machines CorporationCA flagToronto Stock Exchange
35.84
CAD
+1.35
- -
33.77BMarket Cap
International Business Machines Corporation
IBM.TO
(Toronto Stock Exchange)

Recent

price

35.84

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
8.84
10.03
10.11
10.1
10.38
9.38
9.4
9.53
9.8
7.31
6.96
7.19
7.53
7.63
7.65
8.14
8.28
Revenue per Share
1.31
1.49
1.63
1.69
1.34
1.51
1.4
0.69
1.07
1.19
0.71
0.72
0.2
0.92
0.73
1.28
1.28
Basic EPS, GAAP
1.31
1.42
1.46
1.37
1.42
1.5
1.52
1.56
1.39
1.5
1.89
1.26
1.05
1.49
1.43
1.38
1.57
Free Cash Flow per Basic Share
0.28
0.33
0.37
0.42
0.48
0.56
0.62
0.66
0.7
0.72
0.73
0.74
0.74
0.74
0.75
0.75
0.76
Dividend per Share
18.77
17.31
16.88
21.62
11.98
14.77
19.29
19.08
18.82
23.49
23.07
21.05
24.22
24.63
29.48
34.84
36.57
Book Value per Share
-4.54
-8.14
-12.69
-11.63
-22
-22
-23.94
-24.87
-25.27
-59.31
-52.55
-54.84
-49.87
-53.2
-47.57
-49.59
-57.42
Tangible Book Value per Share
11,296
10,657
10,171
9,744
8,941
8,713
8,506
8,305
8,119
7,899
7,926
7,977
8,037
8,112
8,207
8,300
8,347
Basic Weighted Avg Shares
99,871
106,916
102,874
98,368
92,793
81,742
79,920
79,139
79,591
57,714
55,179
57,351
60,530
61,860
62,753
67,536
69,097
Sales/Revenue/Turnover
20.01
20.5
22.35
21.86
21.92
20.2
18.36
16.6
16.61
13.06
8.45
11.97
13.5
15.17
16.05
18.5
18.39
Operating Margin (%)
4,831
4,815
4,676
4,678
4,492
3,855
4,381
4,541
4,480
6,059
6,695
6,417
4,802
4,396
4,667
5,021
5,202
Depreciation Expense
14,833
15,855
16,604
16,483
12,022
13,190
11,872
5,753
8,728
9,431
5,590
5,742
1,640
7,502
6,023
10,593
10,725
Net Income, GAAP
24.79
24.51
24.58
16.61
21.18
16.19
3.64
49.49
23.09
0.83
- -
2.56
- -
13.53
- -
- -
53.26
Effective Tax Rate (%)
14.85
14.83
16.14
16.76
12.96
16.14
14.85
7.27
10.97
16.34
10.13
10.01
2.71
12.13
9.6
15.68
15.52
Profit Margin (%)
7,554
8,805
5,808
11,196
7,796
8,235
7,613
12,372
10,919
719
-704
-4,080
-2,387
-1,214
1,340
-1,714
-7,514
Working Capital
21,846
22,857
24,088
32,856
34,991
33,428
34,655
39,837
35,605
57,981
56,937
47,379
48,379
52,689
52,539
57,383
58,727
LT Debt
23,172
20,235
18,984
22,929
12,014
14,424
18,392
17,725
16,930
20,985
20,726
18,996
22,021
22,613
27,393
32,741
34,541
Total Equity
27.8
30.01
31.08
28.93
25.76
24.21
23.51
10.06
15.18
9.51
- -
8.11
- -
9.98
- -
- -
10.62
Return on Invested Capital (%)
30.02
31.28
32.66
29.27
21.5
25.38
21.73
9.69
14.59
14.17
- -
8.59
- -
11.21
- -
- -
30.15
Return on Capital (%)
64.94
73.43
85.15
79.15
69.37
100.96
73.04
32.1
50.76
50.12
26.98
29.07
8.03
33.73
24.17
35.34
34.62
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
7,224
9,453
6,545
LT Borrowings
54,836
57,706
56,212
LT Finance Leases
2,547
2,643
2,515
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
937
940
942
Market Capitalization
30,219
24,352
27,598

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
36,944
31,914
28,398
Cash, Cash Equivalents & STI
14,417
11,783
8,132
Accounts Receivable, Net
8,112
6,493
6,044
Inventories
1,220
1,476
1,746
Total Current Liabilities
38,658
40,101
35,912
Payables & Accruals
11,219
9,674
9,843
ST Debt
7,224
9,453
6,545
Deferred Revenue
16,101
17,034
16,160

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.3%
10.18%
19.52%
Free Cash Flow
0.63%
-2.19%
-2.59%
Net Income, GAAP
30.24%
68.98%
75.88%
Sales/Revenue/Turnover
-1.38%
4.15%
7.62%
Total Cash Common Dividend
2.5%
1.53%
1.76%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
14,461
15,769
14,967
17,553
62,753
2025
14,541
16,977
16,331
19,687
67,536
2026
15,917
17,162
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.2
0.22
-0.04
0.35
0.73
2025
0.13
0.26
0.21
0.67
1.28
2026
0.15
0.26
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.19
0.19
0.19
0.19
0.75
2025
0.19
0.19
0.19
0.19
0.75
2026
0.19
0.19
- -
- -
- -
Business
International Business Machines Corporation (IBM) is a global enterprise technology and consulting company that develops and provides hybrid cloud, artificial intelligence, automation, data, security, infrastructure and financing solutions to businesses, governments and institutions. Incorporated in 1911 as the Computing-Tabulating-Recording Co. and renamed International Business Machines Corporation in 1924, IBM is headquartered in Armonk, New York, and operates worldwide through facilities, sales organizations, research laboratories, cloud data centers and service-delivery operations. The company reports through Software, Consulting, Infrastructure and Financing segments. IBM’s Software segment provides hybrid-cloud and AI platforms; Red Hat enterprise open-source software, including Red Hat Enterprise Linux, OpenShift Kubernetes platform and Ansible automation; the watsonx portfolio, including watsonx.ai for AI model development and deployment, watsonx.data for data management and lakehouse workloads, watsonx.governance for AI governance and lifecycle controls, and watsonx Orchestrate for AI-agent orchestration; Granite foundation models; automation software such as IBM Concert, Turbonomic, Apptio and robotic-process-automation offerings; data, integration and transaction-processing software, including Db2, Informix, Cognos, MQ and related middleware; security products and services, including Guardium data security and IBM Verify identity and access-management solutions; and infrastructure automation and security products obtained through HashiCorp, including Terraform, Vault, Consul and Nomad. Software offerings are delivered through licenses, subscriptions, software-as-a-service and managed-cloud models. IBM Consulting provides business strategy, technology and transformation consulting; AI strategy, implementation and governance services; application modernization; cloud and hybrid-cloud transformation; data and analytics; cybersecurity; systems integration; business-process transformation; technology operations; and managed application and infrastructure services. The business serves enterprises and public-sector clients across industries, including financial services, telecommunications, healthcare, government, retail, industrials and energy, and works with technology ecosystem partners including Amazon Web Services, Microsoft, Oracle and SAP. IBM’s Infrastructure segment develops and sells enterprise computing platforms and associated support services, including IBM Z mainframes, IBM Power servers, distributed and hybrid-infrastructure systems, storage products such as FlashSystem, infrastructure support, operating systems and related hardware maintenance. The company also operates IBM Quantum programs, including quantum-computing systems, processors, cloud access and research collaboration services for commercial, academic and government organizations. IBM Financing provides client and commercial financing principally to facilitate purchases of IBM hardware, software and services. Recent strategic developments include the completion of IBM’s acquisition of HashiCorp in February 2025 for approximately $6.4 billion, expanding IBM’s multi-cloud infrastructure automation, infrastructure-as-code, secrets-management and application-delivery capabilities. In March 2026, IBM completed the acquisition of Confluent for approximately $11.6 billion, adding data-streaming technology to support an enterprise data platform intended to connect, process and govern data for AI applications and AI agents. IBM has also expanded or deepened partnerships with AMD, Anthropic, AWS, Microsoft, OpenAI, Oracle and NVIDIA to broaden deployment options for its hybrid-cloud and enterprise AI offerings; in 2026 it introduced IBM Bob, an AI-powered development agent, expanded watsonx Orchestrate capabilities and launched IBM Sovereign Core for customers with regulatory, data-residency and governance requirements.