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	Feb '26 Feb 26, 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 Capitalization	190,693	235,817	196,333	135,108	119,192	105,398
Market Cap Growth	-16.52%	20.11%	45.31%	13.35%	13.09%	14.94%
Enterprise Value	233,247	279,934	241,254	178,192	160,669	150,288
Last Close Price	202.65	259.01	205.00	138.56	117.41	99.95
PE Ratio	21.14	26.14	33.75	19.91	77.72	20.87
PS Ratio	3.32	4.10	3.24	2.41	2.10	2.09
PB Ratio	6.84	8.46	7.42	6.60	5.79	6.31
P/FCF Ratio	18.50	22.88	16.40	11.77	14.02	11.17
P/OCF Ratio	16.97	20.99	15.12	10.72	12.21	9.37
EV/Sales Ratio	4.08	4.87	3.98	3.18	2.84	2.98
EV/EBITDA Ratio	15.82	20.39	19.38	16.07	15.94	15.11
EV/EBIT Ratio	21.93	26.15	25.52	20.91	22.83	30.61
EV/FCF Ratio	22.63	27.16	20.15	15.53	18.89	15.92
Debt / Equity Ratio	1.97	1.97	2.13	2.65	2.45	2.90
Debt / EBITDA Ratio	3.71	3.71	4.11	4.42	4.49	4.33
Debt / FCF Ratio	5.34	5.34	4.71	4.72	5.94	5.14
Net Debt / Equity Ratio	1.53	1.53	1.60	2.06	2.06	2.52
Net Debt / EBITDA Ratio	3.11	3.11	3.40	3.79	4.20	4.24
Net Debt / FCF Ratio	4.15	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	22.19	22.19	21.90	20.04	17.14	14.64
Quick Ratio	0.81	0.81	0.88	0.82	0.74	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%	23.73%
Return on Assets (ROA)	5.44%	5.44%	4.49%	4.49%	3.63%	2.42%
Return on Invested Capital (ROIC)	15.46%	16.31%	13.95%	11.94%	11.21%	7.83%
Return on Capital Employed (ROCE)	11.10%	11.10%	9.40%	9.30%	7.90%	5.70%
Earnings Yield	4.73%	3.83%	2.96%	5.02%	1.29%	4.79%
FCF Yield	5.41%	4.37%	6.10%	8.49%	7.13%	8.96%
Dividend Yield	2.86%	2.21%	3.14%	4.33%	5.25%	5.76%
Payout Ratio	60.97%	59.05%	102.06%	80.51%	362.90%	102.19%
Buyback Yield / Dilution	-1.23%	-1.23%	-1.64%	-1.07%	-0.84%	-0.90%
Total Shareholder Return	1.63%	0.98%	1.51%	3.25%	4.41%	4.86%

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