ETR:IBM Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	66,799	62,044	61,123	59,879	56,571
Other Revenue	736	709	737	651	780
Revenue	67,535	62,753	61,860	60,530	57,351
Revenue Growth (YoY)	7.62%	1.44%	2.20%	5.54%	3.94%
Cost of Revenue	27,836	26,832	27,178	27,436	25,331
Gross Profit	39,296	35,552	34,300	32,688	31,486
Selling, General & Admin	19,380	19,281	18,964	19,263	20,027
Research & Development	8,312	7,479	6,775	6,567	6,488
Other Operating Expenses	-964	-996	-860	-663	-612
Operating Expenses	26,728	25,764	24,879	25,167	25,903
Operating Income	12,568	9,788	9,421	7,521	5,583
Interest Expense	-1,935	-1,712	-1,607	-1,216	-1,155
Interest & Investment Income	645	747	670	162	52
Currency Exchange Gain (Loss)	-244	20	-69	500	-1
Other Non Operating Income (Expenses)	125	274	236	103	225
EBT Excluding Unusual Items	11,159	9,117	8,651	7,070	4,704
Merger & Restructuring Charges	-823	-819	-	-	-
Gain (Loss) on Sale of Investments	-7	20	39	-278	133
Gain (Loss) on Sale of Assets	-	592	-	258	-
Other Unusual Items	-	-3,113	-	-5,894	-
Pretax Income	10,329	5,797	8,690	1,156	4,837
Income Tax Expense	-242	-218	1,176	-626	124
Earnings From Continuing Operations	10,571	6,015	7,514	1,782	4,713
Earnings From Discontinued Operations	22	8	-12	-143	1,030
Net Income	10,593	6,023	7,502	1,639	5,743
Net Income to Common	10,593	6,023	7,502	1,639	5,743
Net Income Growth	75.88%	-19.71%	357.72%	-71.46%	2.74%
Shares Outstanding (Basic)	932	922	911	903	896
Shares Outstanding (Diluted)	949	937	922	912	905
Shares Change (YoY)	1.23%	1.64%	1.07%	0.84%	0.90%
EPS (Basic)	11.36	6.53	8.23	1.82	6.41
EPS (Diluted)	11.16	6.43	8.14	1.79	6.35
EPS Growth	73.65%	-21.00%	353.76%	-71.75%	1.86%
Free Cash Flow	12,102	12,397	12,686	9,089	10,734
Free Cash Flow Per Share	12.76	13.23	13.76	9.96	11.87
Dividend Per Share	6.710	6.670	6.630	6.590	6.550
Dividend Growth	0.60%	0.60%	0.61%	0.61%	0.61%
Gross Margin	58.19%	56.65%	55.45%	54.00%	54.90%
Operating Margin	18.61%	15.60%	15.23%	12.43%	9.74%
Profit Margin	15.68%	9.60%	12.13%	2.71%	10.01%
Free Cash Flow Margin	17.92%	19.75%	20.51%	15.02%	18.72%
EBITDA	16,118	12,886	12,257	10,775	11,309
EBITDA Margin	23.87%	20.53%	19.81%	17.80%	19.72%
D&A For EBITDA	3,550	3,098	2,836	3,254	5,726
EBIT	12,568	9,788	9,421	7,521	5,583
EBIT Margin	18.61%	15.60%	15.23%	12.43%	9.74%
Effective Tax Rate	-	-	13.53%	-	2.56%
Revenue as Reported	67,535	62,753	61,860	60,530	57,350
Advertising Expenses	1,129	1,173	1,237	1,330	1,413

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.