International Business Machines Corporation (IBM)
NYSE: IBM · Real-Time Price · USD
251.60
-4.51 (-1.76%)
At close: Mar 18, 2026, 4:00 PM EDT
249.69
-1.91 (-0.76%)
Pre-market: Mar 19, 2026, 7:24 AM EDT
IBM Cash Flow 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 |
Net Income | 11,200 | 3,444 | 4,394 | 1,055 | 5,829 | -630 | 3,634 | 1,605 | 6,588 | 1,703 | 1,584 | 927 | 5,410 | -3,196 | 1,392 | 733 | 4,633 | 1,130 | 1,325 | 955 |
Depreciation & Amortization | 2,593 | 2,583 | 2,565 | 1,177 | 2,225 | 2,568 | 2,355 | 1,131 | 2,352 | 1,093 | 1,077 | 1,074 | 2,237 | 1,163 | 1,246 | 1,256 | 2,781 | 1,684 | 1,680 | 1,672 |
Stock-Based Compensation | 430 | 443 | 441 | 401 | 345 | 330 | 316 | 320 | 290 | 287 | 288 | 268 | 248 | 251 | 254 | 234 | 263 | 262 | 244 | 213 |
Other Adjustments | 7 | -6 | -18 | -22 | 368 | 2,348 | -27 | -253 | -81 | -81 | -14 | -5 | -62 | 40 | -49 | -51 | -157 | -6 | -151 | 7 |
Change in Receivables | -4,063 | 300 | -1,500 | - | -2,255 | 900 | -900 | - | -1,900 | - | - | - | -1,800 | - | - | - | -1,300 | - | - | - |
Changes in Other Operating Activities | 777 | -1,083 | -2,880 | 1,759 | 1,824 | -2,759 | -1,513 | 1,365 | 1,600 | -51 | -295 | 1,509 | 1,700 | -2,249 | -1,522 | 1,076 | -100 | -356 | -472 | 2,066 |
Operating Cash Flow | 4,040 | 3,082 | 1,701 | 4,370 | 4,330 | 2,881 | 2,066 | 4,168 | 4,463 | 3,056 | 2,638 | 3,774 | 3,965 | 1,901 | 1,321 | 3,248 | 2,544 | 2,713 | 2,625 | 4,914 |
Operating Cash Flow Growth | -6.70% | 6.98% | -17.67% | 4.85% | -2.98% | -5.73% | -21.68% | 10.44% | 12.56% | 60.76% | 99.70% | 16.20% | 55.86% | -29.93% | -49.68% | -33.90% | -56.59% | -36.69% | -26.59% | 9.79% |
Capital Expenditures | -932 | -655 | -510 | -244 | -725 | -186 | -620 | -239 | -600 | -281 | -364 | -300 | -909 | -317 | -339 | -281 | -950 | -558 | -560 | -494 |
Sale of Property, Plant & Equipment | 3 | 7 | 37 | 74 | 21 | 479 | 45 | 12 | 184 | 112 | 14 | 11 | 13 | 8 | 18 | 72 | 75 | 97 | 76 | 139 |
Purchases of Intangible Assets | -171 | -162 | -163 | -151 | -141 | -138 | -224 | -134 | -148 | -112 | -137 | -168 | -147 | -138 | -172 | -169 | -151 | -176 | -204 | -175 |
Purchases of Investments | 1,173 | -1,170 | 1,546 | -6,486 | -1,670 | -5 | 2,138 | -4,934 | 2,431 | -1,114 | -729 | -8,531 | -856 | -2,138 | -1,311 | -1,025 | -906 | -765 | -1,015 | -875 |
Proceeds from Sale of Investments | 3,542 | 1,200 | 4,035 | 927 | 853 | 1,774 | 3,453 | 464 | 4,005 | 4,042 | 1,550 | 1,050 | 2,010 | 944 | 1,029 | 682 | 945 | 890 | 763 | 549 |
Payments for Business Acquisitions | -782 | -158 | -747 | -7,098 | -1,082 | -5,013 | -153 | -82 | -237 | -4,589 | -334 | -22 | -2,628 | -62 | -260 | -698 | -275 | -152 | -1,746 | -1,120 |
Proceeds from Business Divestments | - | - | - | -1 | -14 | 2 | - | 703 | - | -10 | 6 | - | 1 | 3 | 1,207 | 61 | 88 | 51 | -10 | -15 |
Other Investing Activities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 25 | -9 |
Investing Cash Flow | 1,417 | -438 | 1,698 | -12,979 | -1,379 | -1,587 | 2,239 | -4,210 | 2,836 | -1,953 | 7 | -7,960 | -1,319 | -1,697 | 172 | -1,358 | -675 | -629 | -2,671 | -2,000 |
Long-Term Debt Issued | - | 6 | 7 | 8,378 | - | - | 219 | 5,486 | - | 154 | 4,716 | 9,432 | 7 | 3,395 | 318 | 4,084 | 128 | 151 | 192 | 51 |
Long-Term Debt Repaid | -1,810 | -1,114 | -1,308 | -1,257 | -124 | -1,267 | -3,118 | -2,106 | -109 | -1,713 | -1,135 | -2,125 | -1,354 | -1,487 | -2,830 | -1,129 | -1,276 | -1,347 | -1,713 | -4,261 |
Net Long-Term Debt Issued (Repaid) | -1,810 | -1,108 | -1,301 | 7,121 | -124 | -1,267 | -2,899 | 3,380 | -109 | -1,559 | 3,581 | 7,307 | -1,347 | 1,908 | -2,512 | 2,955 | -1,148 | -1,196 | -1,521 | -4,210 |
Issuance of Common Stock | 175 | 134 | 185 | 216 | 108 | 252 | 125 | 260 | - | - | - | - | - | - | - | - | - | - | - | - |
Repurchase of Common Stock | -167 | -414 | -153 | -284 | -112 | -189 | -151 | -199 | -64 | -98 | -144 | -96 | -78 | -14 | -235 | -80 | -67 | -18 | -193 | -41 |
Net Common Stock Issued (Repurchased) | 8 | -280 | 32 | -68 | -4 | 63 | -26 | 61 | -64 | -98 | -144 | -96 | -78 | -14 | -235 | -80 | -67 | -18 | -193 | -41 |
Common Dividends Paid | -3,147 | -3,169 | -1,563 | -1,549 | -3,092 | -3,043 | -1,536 | -1,522 | -3,018 | -1,515 | -1,510 | -1,497 | -2,994 | -1,491 | -1,488 | -1,475 | -1,474 | -1,471 | -1,467 | -1,457 |
Other Financing Activities | -1,840 | -1,155 | -1,322 | -61 | -740 | -1,320 | -2,952 | -43 | -23 | 39 | 57.5 | -6 | -1,334 | 311 | 39 | -23 | -2,881 | 935 | 50 | -74 |
Financing Cash Flow | -3,406 | -3,012 | -2,854 | 5,443 | -1,676 | -2,765 | -4,515 | 1,877 | -1,615 | -3,132 | -2,730 | 5,708 | -2,852 | 713 | -4,196 | 1,377 | -2,692 | -1,748 | -3,131 | -5,783 |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | -11 | -58 | 320 | 167 | -330 | 207 | -77 | -159 | 129 | -119 | -25 | 24 | 219 | -196 | -262 | -5 | -26 | -94 | 69 | -134 |
Net Cash Flow | 2,041 | -427 | 865 | -2,999 | 946 | -1,264 | -287 | 1,676 | 5,814 | -2,149 | -111 | 1,547 | 14 | 721 | -2,966 | 3,263 | -850 | 242 | -3,108 | -3,002 |
Free Cash Flow | 3,108 | 2,427 | 1,191 | 4,126 | 3,605 | 2,695 | 1,446 | 3,929 | 3,863 | 2,775 | 2,274 | 3,474 | 3,056 | 1,584 | 982 | 2,967 | 1,594 | 2,155 | 2,065 | 4,420 |
Free Cash Flow Growth | -13.79% | -9.94% | -17.64% | 5.01% | -6.68% | -2.88% | -36.41% | 13.10% | 26.41% | 75.19% | 131.57% | 17.09% | 91.72% | -26.50% | -52.45% | -32.87% | -63.79% | -39.47% | -30.96% | 14.92% |
FCF Margin | 15.79% | 14.86% | 7.02% | 28.37% | 20.54% | 18.01% | 9.17% | 27.17% | 22.23% | 18.81% | 14.69% | 24.38% | 18.31% | 11.23% | 6.32% | 20.90% | 48.94% | 16.26% | 14.52% | 33.52% |
Free Cash Flow Per Share | 3.26 | 2.56 | 1.26 | 4.36 | 3.83 | 2.92 | 1.55 | 4.21 | 4.17 | 3.00 | 2.47 | 3.78 | 3.37 | 1.75 | 1.08 | 3.26 | 1.76 | 2.38 | 2.28 | 4.90 |
Levered Free Cash Flow | 6,228 | 1,481 | 68 | 10,868 | 6,114 | -1,974 | -843 | 7,242 | 6,531 | 906 | 5,582 | 10,517 | 4,391 | -2,691 | -1,735 | 5,739 | 2,916 | 704 | 452 | -11 |
Unlevered Free Cash Flow | 8,661 | 2,942 | 1,799 | 4,162 | 6,626 | -524.43 | 2,404 | 4,465 | 6,990 | 2,852 | 2,333 | 3,542 | 6,167 | -4,406 | 1,103 | 3,043 | 3,331 | 2,177 | 1,709 | 4,110 |
Updated Jan 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.