International Business Machines Corporation (IBM)

NYSE: IBM · Real-Time Price · USD

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306.70

-2.54 (-0.82%)

At close: Jan 30, 2026, 4:00 PM EST

306.39

-0.31 (-0.10%)

After-hours: Jan 30, 2026, 7:56 PM EST

IBM Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Operating Revenue	66,735	64,678	63,335	62,125	62,044	61,867	61,646	61,336	61,123	60,433	59,797	59,893	59,879	59,880	59,015	57,638	56,571	41,838	46,059	49,902
Other Revenue	800	724	705	707	709	713	720	734	737	738	728	692	651	654	663	725	780	744	833	891
Revenue	67,535	65,402	64,040	62,832	62,753	62,580	62,366	62,070	61,860	61,171	60,525	60,585	60,530	60,534	59,678	58,363	57,351	42,582	46,892	50,793
Revenue Growth (YoY)	7.62%	4.51%	2.68%	1.23%	1.44%	2.30%	3.04%	2.45%	2.20%	1.05%	1.42%	3.81%	5.54%	42.16%	27.27%	14.90%	3.94%	-43.25%	-37.89%	-33.63%
Cost of Revenue	28,238	27,203	26,795	26,618	26,832	26,835	27,019	27,166	27,178	27,116	27,038	27,304	27,436	27,546	27,001	26,072	25,331	14,308	17,253	20,293
Gross Profit	39,297	37,808	36,868	35,840	35,552	35,379	34,982	34,533	34,300	33,666	33,072	32,863	32,688	32,556	32,233	31,796	31,486	27,798	29,123	29,967
Selling, General & Admin	20,188	19,170	19,115	19,131	19,281	19,079	18,799	18,581	18,482	18,599	18,757	18,995	19,263	19,581	19,656	19,681	20,027	18,365	18,664	19,004
Research & Development	8,316	8,092	7,885	7,629	7,479	7,260	7,069	6,916	6,775	6,631	6,557	6,543	6,567	6,588	6,583	6,551	6,488	6,403	6,312	6,253
Other Operating Expenses	-964	-987	-1,006	-1,033	-996	-938	-890	-900	-860	-850	-781	-699	-663	-576	-598	-557	-612	-556	-536	-609
Operating Expenses	27,540	26,275	25,994	25,727	25,764	25,401	24,978	24,597	24,397	24,380	24,533	24,839	25,167	25,593	25,641	25,675	25,903	24,212	24,440	24,648
Operating Income	11,757	11,533	10,874	10,113	9,788	9,978	10,004	9,936	9,903	9,286	8,539	8,024	7,521	6,963	6,592	6,121	5,583	3,586	4,683	5,319
Interest Expense	-1,935	-1,881	-1,818	-1,735	-1,712	-1,693	-1,676	-1,672	-1,607	-1,515	-1,399	-1,272	-1,216	-1,206	-1,200	-1,186	-1,155	-1,169	-1,202	-1,242
Interest & Investment Income	-	663	683	728	747	740	726	710	670	591	487	315	162	111	73	55	52	54	55	68
Currency Exchange Gain (Loss)	-	-79	-70	101	20	-169	-194	-205	-69	158	363	480	500	475	330	124	-1	-160	-182	-89
Other Non Operating Income (Expenses)	507	138	114	204	261	261	299	243	180	446	97	299	103	176	487	310	225	182	158	134
EBT Excluding Unusual Items	10,329	10,374	9,783	9,411	9,104	9,117	9,159	9,012	9,077	8,966	8,087	7,846	7,070	6,519	6,282	5,424	4,704	2,493	3,512	4,190
Merger & Restructuring Charges	-	-506	-777	-762	-819	-835	-577	-643	-471	-457	-412	-319	-	-41	-32	-126	-	-1,400	-1,415	-1,430
Gain (Loss) on Sale of Investments	-	-2	-	-19	20	56	57	54	39	-19	75	-65	-278	-132	-234	-91	133	14	23	23
Gain (Loss) on Sale of Assets	-	13	366	364	605	637	286	282	45	-246	13	23	258	282	33	31	-	85	86	83
Other Unusual Items	-	-388	-3,113	-3,113	-3,113	-2,725	-	-	-	-	-5,894	-5,894	-5,894	-5,916	-22	-22	-	-	-	-
Pretax Income	10,329	9,491	6,259	5,881	5,797	6,250	8,925	8,705	8,690	8,244	1,869	1,591	1,156	712	6,027	5,216	4,837	1,192	2,206	2,866
Income Tax Expense	-242	1,572	401	387	-218	-123	521	550	1,176	1,146	-301	-463	-626	-664	400	244	124	-754	-402	-293
Earnings From Continuing Operations	10,571	7,919	5,858	5,494	6,015	6,373	8,404	8,155	7,514	7,098	2,170	2,054	1,782	1,376	5,627	4,972	4,713	1,946	2,608	3,159
Earnings From Discontinued Operations	22	-12	-25	-21	8	24	26	25	-12	-174	-145	-221	-143	-114	-39	549	1,030	2,820	2,726	2,211
Net Income	10,593	7,907	5,833	5,473	6,023	6,397	8,430	8,180	7,502	6,924	2,025	1,833	1,639	1,262	5,588	5,521	5,743	4,766	5,334	5,370
Net Income to Common	10,593	7,907	5,833	5,473	6,023	6,397	8,430	8,180	7,502	6,924	2,025	1,833	1,639	1,262	5,588	5,521	5,743	4,766	5,334	5,370
Net Income Growth	75.88%	23.61%	-30.81%	-33.09%	-19.71%	-7.61%	316.30%	346.26%	357.72%	448.65%	-63.76%	-66.80%	-71.46%	-73.52%	4.76%	2.81%	2.74%	-39.70%	-32.29%	-40.43%
Shares Outstanding (Basic)	932	930	927	924	922	919	916	914	911	909	907	905	903	901	899	897	896	895	893	892
Shares Outstanding (Diluted)	949	946	944	940	937	933	933	926	922	926	917	914	912	903	908	907	905	903	901	898
Shares Change (YoY)	1.23%	1.37%	1.09%	1.53%	1.64%	0.77%	1.83%	1.26%	1.07%	2.59%	0.93%	0.87%	0.84%	0.02%	0.84%	0.92%	0.90%	0.84%	0.72%	0.58%
EPS (Basic)	11.36	8.50	6.29	5.92	6.53	6.96	9.20	8.95	8.23	7.62	2.23	2.03	1.82	1.40	6.22	6.15	6.41	5.33	5.97	6.02
EPS (Diluted)	11.16	8.36	6.18	5.83	6.43	6.86	9.03	8.84	8.14	7.47	2.21	2.00	1.79	1.39	6.15	6.10	6.35	5.29	5.93	5.97
EPS Growth	73.65%	21.91%	-31.54%	-34.06%	-21.00%	-8.20%	309.22%	341.39%	353.76%	436.48%	-64.14%	-67.18%	-71.75%	-73.66%	3.68%	2.16%	1.86%	-40.07%	-32.70%	-40.86%
Free Cash Flow	11,576	12,471	12,239	12,594	12,397	12,533	12,713	13,141	12,686	12,079	10,888	9,596	9,089	7,627	8,198	9,281	10,734	13,822	15,227	16,153
Free Cash Flow Per Share	12.20	13.18	12.97	13.40	13.23	13.43	13.62	14.19	13.76	13.04	11.88	10.49	9.96	8.45	9.03	10.24	11.87	15.31	16.91	17.98
Dividend Per Share	6.710	6.700	6.690	6.680	6.670	6.660	6.650	6.640	6.630	6.620	6.610	6.600	6.590	6.580	6.570	6.560	6.550	6.540	6.530	6.520
Dividend Growth	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.60%	0.61%	0.61%	0.61%	0.61%	0.61%	0.61%	0.61%	0.61%	0.61%	0.61%	0.61%	0.62%	0.62%
Gross Margin	58.19%	57.81%	57.57%	57.04%	56.65%	56.53%	56.09%	55.64%	55.45%	55.04%	54.64%	54.24%	54.00%	53.78%	54.01%	54.48%	54.90%	65.28%	62.11%	59.00%
Operating Margin	17.41%	17.63%	16.98%	16.10%	15.60%	15.94%	16.04%	16.01%	16.01%	15.18%	14.11%	13.24%	12.43%	11.50%	11.05%	10.49%	9.74%	8.42%	9.99%	10.47%
Profit Margin	15.68%	12.09%	9.11%	8.71%	9.60%	10.22%	13.52%	13.18%	12.13%	11.32%	3.35%	3.03%	2.71%	2.08%	9.36%	9.46%	10.01%	11.19%	11.38%	10.57%
Free Cash Flow Margin	17.14%	19.07%	19.11%	20.04%	19.75%	20.03%	20.39%	21.17%	20.51%	19.75%	17.99%	15.84%	15.02%	12.60%	13.74%	15.90%	18.72%	32.46%	32.47%	31.80%
EBITDA	16,778	15,042	14,183	13,281	12,886	12,562	12,736	12,659	12,739	12,319	11,842	11,796	10,775	12,009	12,159	12,122	11,309	10,321	11,417	12,052
EBITDA Margin	24.84%	23.00%	22.15%	21.14%	20.53%	20.07%	20.42%	20.39%	20.59%	20.14%	19.56%	19.47%	17.80%	19.84%	20.37%	20.77%	19.72%	24.24%	24.35%	23.73%
D&A For EBITDA	5,021	3,509	3,309	3,168	3,098	2,584	2,732	2,723	2,836	3,033	3,303	3,772	3,254	5,046	5,567	6,001	5,726	6,735	6,734	6,733
EBIT	11,757	11,533	10,874	10,113	9,788	9,978	10,004	9,936	9,903	9,286	8,539	8,024	7,521	6,963	6,592	6,121	5,583	3,586	4,683	5,319
EBIT Margin	17.41%	17.63%	16.98%	16.10%	15.60%	15.94%	16.04%	16.01%	16.01%	15.18%	14.11%	13.24%	12.43%	11.50%	11.05%	10.49%	9.74%	8.42%	9.99%	10.47%
Effective Tax Rate	-	16.56%	6.41%	6.58%	-	-	5.84%	6.32%	13.53%	13.90%	-	-	-	-	6.64%	4.68%	2.56%	-	-	-
Revenue as Reported	67,535	65,403	64,041	62,832	62,753	62,580	62,364	62,070	61,860	61,169	60,525	60,585	60,530	60,534	59,677	58,360	57,350	42,582	46,891	50,795
Advertising Expenses	-	-	-	-	1,173	-	-	-	1,237	-	-	-	1,330	-	-	-	1,413	-	-	-

Updated Jan 28, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q