International Business Machines Corporation (NEO: IBM)

NEO: IBM Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	61,867	61,123	59,879	56,571	54,195	56,498
Other Revenue	713	737	651	780	984	1,216
Revenue	62,580	61,860	60,530	57,351	55,179	57,714
Revenue Growth (YoY)	2.30%	2.20%	5.54%	3.94%	-4.39%	-27.49%
Cost of Revenue	26,835	27,178	27,436	25,331	23,737	25,476
Gross Profit	35,379	34,300	32,688	31,486	30,865	31,534
Selling, General & Admin	21,804	18,482	25,090	20,027	20,561	18,724
Research & Development	7,260	6,775	6,567	6,488	6,262	5,910
Other Operating Expenses	-930	-852	-642	-612	-620	-639
Operating Expenses	28,134	24,405	31,015	25,903	26,203	23,995
Operating Income	7,245	9,895	1,673	5,583	4,662	7,539
Interest Expense	-1,693	-1,607	-1,216	-1,155	-1,288	-1,344
Interest & Investment Income	740	670	162	52	-	-
Currency Exchange Gain (Loss)	-169	-69	500	-1	-12	-14
Other Non Operating Income (Expenses)	2,963	225	6,256	225	-790	263
EBT Excluding Unusual Items	9,086	9,114	7,375	4,704	2,572	6,444
Merger & Restructuring Charges	-767	-471	-68	-	-	-
Gain (Loss) on Sale of Investments	56	39	-278	133	-	-
Gain (Loss) on Sale of Assets	600	8	21	-	-	762
Other Unusual Items	-2,725	-	-5,894	-	-	-
Pretax Income	6,250	8,690	1,156	4,837	2,572	7,206
Income Tax Expense	-123	1,176	-626	124	-1,360	60
Earnings From Continuing Operations	6,373	7,514	1,782	4,713	3,932	7,146
Earnings From Discontinued Operations	24	-12	-143	1,030	1,658	2,285
Net Income	6,397	7,502	1,639	5,743	5,590	9,431
Net Income to Common	6,397	7,502	1,639	5,743	5,590	9,431
Net Income Growth	-7.61%	357.72%	-71.46%	2.74%	-40.73%	8.05%
Shares Outstanding (Basic)	919	911	903	896	890	887
Shares Outstanding (Diluted)	933	922	912	905	897	893
Shares Change (YoY)	0.77%	1.07%	0.84%	0.90%	0.42%	-2.56%
EPS (Basic)	6.96	8.23	1.82	6.41	6.28	10.63
EPS (Diluted)	6.86	8.14	1.79	6.35	6.23	10.56
EPS Growth	-8.20%	353.76%	-71.75%	1.86%	-40.97%	10.92%
Free Cash Flow	12,533	12,686	9,089	10,734	15,579	12,484
Free Cash Flow Per Share	13.43	13.76	9.96	11.87	17.38	13.98
Dividend Per Share	6.660	6.630	6.590	6.550	6.510	6.430
Dividend Growth	0.60%	0.61%	0.61%	0.61%	1.24%	3.54%
Gross Margin	56.53%	55.45%	54.00%	54.90%	55.94%	54.64%
Operating Margin	11.58%	16.00%	2.76%	9.73%	8.45%	13.06%
Profit Margin	10.22%	12.13%	2.71%	10.01%	10.13%	16.34%
Free Cash Flow Margin	20.03%	20.51%	15.02%	18.72%	28.23%	21.63%
EBITDA	11,951	14,291	6,475	12,000	11,357	13,598
EBITDA Margin	19.10%	23.10%	10.70%	20.92%	20.58%	23.56%
D&A For EBITDA	4,706	4,396	4,802	6,417	6,695	6,059
EBIT	7,245	9,895	1,673	5,583	4,662	7,539
EBIT Margin	11.58%	16.00%	2.76%	9.73%	8.45%	13.06%
Effective Tax Rate	-	13.53%	-	2.56%	-	0.83%
Revenue as Reported	62,580	61,860	60,530	57,350	55,179	57,714
Advertising Expenses	-	1,237	1,330	1,413	1,509	1,509

Source: S&P Capital IQ. Standard template. Financial Sources.