International Business Machines Corporation (IBM)

Income Statement (Annual)

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

Millions USD. Fiscal year is Jan - Dec.

Year	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Revenue	57,350	55,179	57,714	79,591	79,139	79,919	81,741	92,793	98,367	102,874
Revenue Growth (YoY)	3.93%	-4.39%	-27.49%	0.57%	-0.98%	-2.23%	-11.91%	-5.67%	-4.38%	-3.78%
Cost of Revenue	25,865	24,314	26,181	42,655	42,196	41,403	41,057	46,386	49,683	52,513
Gross Profit	31,485	30,865	31,533	36,936	36,943	38,516	40,684	46,407	48,684	50,361
Selling, General & Admin	18,745	20,561	18,724	19,366	19,680	20,869	20,430	23,180	23,451	23,463
Research & Development	6,488	6,262	5,910	5,379	5,590	5,726	5,247	5,437	5,743	5,816
Other Operating Expenses	261	182	-1,651	126	-341	-1,038	-1,406	-2,680	-1,155	-1,917
Operating Expenses	25,494	27,005	22,983	24,871	24,929	25,557	24,271	25,937	28,039	27,362
Operating Income	5,991	3,860	8,550	12,065	12,014	12,959	16,413	20,470	20,645	22,999
Interest Expense / Income	1,155	1,288	1,344	723	615	630	468	484	402	459
Other Expense / Income	-1,031	-1,658	-2,285	-5	4	8	174	3,730	397	395
Pretax Income	5,867	4,230	9,491	11,347	11,395	12,321	15,771	16,256	19,846	22,145
Income Tax	124	-1,360	60	2,619	5,642	449	2,581	4,234	3,363	5,541
Net Income	5,743	5,590	9,431	8,728	5,753	11,872	13,190	12,022	16,483	16,604
Net Income Common	5,743	5,590	9,431	8,728	5,753	11,872	13,190	12,022	16,483	16,604
Net Income Growth	2.74%	-40.73%	8.05%	51.71%	-51.54%	-9.99%	9.72%	-27.06%	-0.73%	4.72%
Shares Outstanding (Basic)	896	890	887	912	933	955	979	1,004	1,094	1,143
Shares Outstanding (Diluted)	905	897	893	916	937	959	983	1,010	1,103	1,155
Shares Change	0.90%	0.42%	-2.56%	-2.25%	-2.23%	-2.44%	-2.70%	-8.43%	-4.54%	-4.81%
EPS (Basic)	6.41	6.28	10.63	9.57	6.17	12.43	13.48	11.97	15.06	14.53
EPS (Diluted)	6.35	6.23	10.56	9.52	6.14	12.38	13.42	11.90	14.94	14.37
EPS Growth	1.93%	-41.00%	10.92%	55.05%	-50.40%	-7.75%	12.77%	-20.35%	3.97%	10.03%
Free Cash Flow Per Share	11.62	17.02	13.98	12.64	14.38	13.98	13.77	13.03	12.53	13.37
Dividend Per Share	6.550	6.510	6.430	6.210	5.900	5.500	5.000	4.250	3.700	3.300
Dividend Growth	0.61%	1.24%	3.54%	5.25%	7.27%	10.00%	17.65%	14.87%	12.12%	13.79%
Gross Margin	54.90%	55.90%	54.60%	46.40%	46.70%	48.20%	49.80%	50.00%	49.50%	49.00%
Operating Margin	10.40%	7.00%	14.80%	15.20%	15.20%	16.20%	20.10%	22.10%	21.00%	22.40%
Profit Margin	10.00%	10.10%	16.30%	11.00%	7.30%	14.90%	16.10%	13.00%	16.80%	16.10%
Free Cash Flow Margin	18.20%	27.50%	21.50%	14.50%	16.90%	16.70%	16.50%	14.10%	13.90%	14.90%
Effective Tax Rate	2.11%	-32.15%	0.63%	23.08%	49.51%	3.64%	16.37%	26.05%	16.95%	25.02%
EBITDA	13,439	12,213	16,894	16,550	16,551	17,332	20,094	21,232	24,926	27,280
EBITDA Margin	23.40%	22.10%	29.30%	20.80%	20.90%	21.70%	24.60%	22.90%	25.30%	26.50%
Depreciation & Amortization	6,417	6,695	6,059	4,480	4,541	4,381	3,855	4,492	4,678	4,676
EBIT	7,022	5,518	10,835	12,070	12,010	12,951	16,239	16,740	20,248	22,604
EBIT Margin	12.20%	10.00%	18.80%	15.20%	15.20%	16.20%	19.90%	18.00%	20.60%	22.00%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).