ETR:IBM Ratios and Metrics

Market cap in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 23, 2026	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
Market Cap	196,205	239,085	175,416	128,918	109,973	103,511
Market Cap Growth	-7.86%	36.30%	36.07%	17.23%	6.24%	11.95%
Enterprise Value	239,690	281,713	212,565	168,333	148,289	144,009
PE Ratio	21.75	26.52	34.19	20.09	78.27	25.65
Forward PE	19.16	24.50	21.12	16.60	14.63	12.81
PEG Ratio	-	3.15	4.80	3.08	1.77	1.86
PS Ratio	3.41	4.11	3.24	2.42	2.11	2.10
PB Ratio	7.04	8.50	7.46	6.64	5.82	6.36
P/TBV Ratio	6.18	8.61	7.54	6.69	5.86	6.40
P/FCF Ratio	19.04	22.93	16.43	11.80	14.05	11.19
P/OCF Ratio	17.46	21.04	15.15	10.74	12.23	9.39
EV/Sales Ratio	4.10	4.84	3.93	3.16	2.84	2.91
EV/EBITDA Ratio	15.91	18.92	20.27	13.30	24.00	13.47
EV/EBIT Ratio	22.05	26.66	32.86	18.98	72.60	27.90
EV/FCF Ratio	23.25	27.02	19.90	15.40	18.94	15.57
Debt / Equity Ratio	1.95	1.95	2.10	2.61	2.41	2.85
Debt / EBITDA Ratio	3.05	3.74	4.80	4.08	7.53	4.44
Debt / FCF Ratio	5.95	5.34	4.71	4.72	5.94	5.14
Net Debt / Equity Ratio	1.54	1.54	1.60	2.06	2.06	2.53
Net Debt / EBITDA Ratio	2.37	2.90	3.60	3.17	6.31	3.86
Net Debt / FCF Ratio	4.63	4.15	3.53	3.67	4.98	4.46
Asset Turnover	0.47	0.47	0.46	0.47	0.47	0.40
Inventory Turnover	27.64	27.64	25.66	20.32	21.41	18.08
Quick Ratio	0.67	0.67	0.74	0.82	0.76	0.68
Current Ratio	0.96	0.96	1.04	0.96	0.92	0.88
Return on Equity (ROE)	35.16%	35.16%	24.06%	33.67%	8.69%	23.72%
Return on Assets (ROA)	8.68%	8.68%	5.72%	6.78%	2.82%	4.05%
Return on Invested Capital (ROIC)	10.31%	10.31%	6.80%	7.91%	3.20%	4.62%
Return on Capital Employed (ROCE)	11.29%	11.29%	7.32%	10.46%	2.44%	5.59%
Earnings Yield	4.60%	3.77%	2.92%	4.98%	1.28%	3.90%
FCF Yield	5.25%	4.36%	6.09%	8.48%	7.12%	8.93%
Dividend Yield	2.72%	2.27%	3.03%	4.05%	4.68%	4.90%
Payout Ratio	59.05%	59.05%	102.06%	80.51%	362.90%	102.19%
Buyback Yield / Dilution	0.11%	0.11%	-0.05%	-0.01%	0.10%	0.27%
Total Shareholder Return	2.83%	2.38%	2.99%	4.04%	4.78%	5.17%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.