International Business Machines Corporation (IBM)
NYSE: IBM · Real-Time Price · USD
221.29
-0.29 (-0.13%)
At close: Oct 6, 2026, 4:00 PM EDT
221.31
+0.02 (0.01%)
After-hours: Oct 6, 2026, 4:17 PM EDT
IBM Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Net Income | 2,165 | 1,216 | 5,600 | 1,744 | 2,194 | 1,055 | 2,914 | -330 | 1,834 | 1,605 | 3,288 | 1,703 | 1,584 | 927 | 2,710 | -3,196 | 1,392 | 733 | 2,333 | 1,130 |
Depreciation & Amortization | 1,197 | 1,125 | 1,147 | 1,145 | 1,127 | 1,031 | 1,006 | 1,045 | 986 | 961 | 974 | 611 | 1,077 | 1,074 | 489 | 1,163 | 1,246 | 1,256 | 1,381 | 1,684 |
Other Amortization | 152 | 149 | 149 | 138 | 138 | 146 | 107 | 223 | 169 | 170 | 178 | 482 | - | - | 648 | - | - | - | - | - |
Loss (Gain) From Sale of Assets | -67 | -11 | 7 | -6 | -18 | -22 | -20 | -352 | -27 | -253 | -70 | -81 | -14 | -5 | -303 | 40 | -49 | -51 | -157 | -6 |
Stock-Based Compensation | 498 | 506 | 430 | 443 | 441 | 401 | 345 | 330 | 316 | 320 | 290 | 287 | 288 | 268 | 248 | 251 | 254 | 234 | 263 | 262 |
Other Operating Activities | 1 | -1 | -958 | 1 | -1 | - | -1,942 | 2,724 | 1 | - | -1,114 | 1 | -2 | 1 | -2,724 | 5,892 | - | - | -2,000 | -1 |
Change in Accounts Receivable | - | - | -4,278 | - | - | - | -374 | - | - | - | 725 | - | - | - | -539 | - | - | - | 1,372 | - |
Change in Inventory | - | - | 70 | - | - | - | -166 | - | - | - | 390 | - | - | - | 71 | - | - | - | 138 | - |
Change in Accounts Payable | - | - | 624 | - | - | - | -13 | - | - | - | 65 | - | - | - | 213 | - | - | - | 85 | - |
Change in Other Net Operating Assets | -1,349 | 2,185 | 1,249 | -383 | -2,180 | 1,759 | 2,473 | -759 | -1,213 | 1,365 | -263 | 53 | -295 | 1,509 | 3,152 | -2,249 | -1,522 | 1,076 | -871 | -356 |
Operating Cash Flow | 2,597 | 5,169 | 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 |
Operating Cash Flow Growth (YoY) | 52.68% | 18.28% | -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% |
Investing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Capital Expenditures | -229 | -232 | -382 | -255 | -210 | -244 | -303 | -286 | -220 | -239 | -300 | -281 | -364 | -300 | -409 | -317 | -339 | -281 | -450 | -558 |
Sale of Property, Plant & Equipment | 23 | 8 | 3 | 7 | 37 | 74 | 21 | 479 | 45 | 12 | 184 | 112 | 14 | 11 | 13 | 8 | 18 | 72 | 75 | 97 |
Cash Acquisitions | -15 | -10,465 | -391 | -58 | -747 | -7,098 | -541 | -2,513 | -153 | -82 | -137 | -4,589 | -334 | -22 | -1,328 | -62 | -260 | -698 | -275 | -152 |
Divestitures | - | 1 | - | - | - | -1 | -7 | 2 | - | 703 | - | -10 | 6 | - | 1 | 3 | 1,207 | 61 | 88 | 51 |
Sale (Purchase) of Intangibles | -154 | -159 | -171 | -162 | -163 | -151 | -141 | -138 | -224 | -134 | -148 | -112 | -137 | -168 | -147 | -138 | -172 | -169 | -151 | -176 |
Investment in Securities | -107 | 359 | 2,357 | 30 | 2,781 | -5,559 | -408 | 869 | 2,791 | -4,470 | 3,236 | 2,928 | 821 | -7,481 | 554 | -1,194 | -282 | -343 | 39 | 125 |
Other Investing Activities | 1 | -1 | 1 | - | - | - | - | - | - | - | 1 | -1 | 1 | - | -3 | 3 | - | - | -1 | - |
Investing Cash Flow | -481 | -10,489 | 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 |
Financing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Short-Term Debt Issued | - | - | - | - | - | - | - | - | - | 1 | - | - | - | - | - | - | - | - | - | - |
Long-Term Debt Issued | - | 7,437 | - | - | - | 8,378 | - | - | - | 5,486 | - | - | - | 9,432 | - | - | - | 4,084 | - | - |
Total Debt Issued | - | 7,437 | - | 6 | 7 | 8,378 | 21 | 9 | 218 | 5,487 | -6 | 160 | - | 9,432 | 3 | 3,616 | 318 | 4,084 | -712 | 991 |
Short-Term Debt Repaid | - | - | - | - | - | -29 | - | - | - | - | - | - | - | -3 | - | - | - | -8 | - | - |
Long-Term Debt Repaid | - | -2,928 | - | - | - | -1,257 | - | - | - | -2,106 | - | - | - | -2,125 | - | - | - | -1,129 | - | - |
Total Debt Repaid | -4,213 | -2,928 | -1,810 | -1,114 | -1,308 | -1,286 | -124 | -1,267 | -3,118 | -2,106 | -116 | -1,710 | -1,135 | -2,128 | -1,354 | -1,478 | -2,831 | -1,137 | -1,316 | -1,279 |
Net Debt Issued (Repaid) | -4,213 | 4,509 | -1,810 | -1,108 | -1,301 | 7,092 | -103 | -1,258 | -2,900 | 3,381 | -122 | -1,550 | -1,135 | 7,304 | -1,351 | 2,138 | -2,513 | 2,947 | -2,028 | -288 |
Issuance of Common Stock | 240 | 178 | 175 | 134 | 185 | 216 | 108 | 252 | 125 | 260 | 414 | - | - | - | - | - | - | - | - | - |
Repurchase of Common Stock | -115 | -350 | -167 | -414 | -153 | -284 | -112 | -189 | -151 | -199 | -64 | -98 | -144 | -96 | -78 | -14 | -235 | -80 | -67 | -18 |
Common Dividends Paid | -1,590 | -1,576 | -1,574 | -1,569 | -1,563 | -1,549 | -1,546 | -1,543 | -1,536 | -1,522 | -1,518 | -1,515 | -1,510 | -1,497 | -1,494 | -1,491 | -1,488 | -1,475 | -1,474 | -1,471 |
Other Financing Activities | -49 | -42 | -30 | -55 | -22 | -32 | -23 | -27 | -53 | -43 | -325 | 31 | 59 | -3 | 71 | 80 | 40 | -15 | 877 | 29 |
Financing Cash Flow | -5,727 | 2,719 | -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 |
Net Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Foreign Exchange Rate Adjustments | -34 | -177 | -11 | -58 | 320 | 167 | -330 | 207 | -77 | -159 | 129 | -119 | -25 | 24 | 219 | -196 | -262 | -5 | -26 | -94 |
Miscellaneous Cash Flow Adjustments | -1 | 1 | - | - | - | - | 1 | - | - | - | 1 | -1 | -1 | 1 | - | - | -1 | 1 | -1 | - |
Net Cash Flow | -3,646 | -2,777 | 2,040 | -426 | 865 | -2,999 | 946 | -1,264 | -287 | 1,676 | 5,814 | -2,149 | -111 | 1,547 | 13 | 721 | -2,966 | 3,263 | -850 | 242 |
Free Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Free Cash Flow | 2,368 | 4,937 | 3,658 | 2,827 | 1,491 | 4,126 | 4,027 | 2,595 | 1,846 | 3,929 | 4,163 | 2,775 | 2,274 | 3,474 | 3,556 | 1,584 | 982 | 2,967 | 2,094 | 2,155 |
Free Cash Flow Growth (YoY) | 58.82% | 19.66% | -9.16% | 8.94% | -19.23% | 5.01% | -3.27% | -6.49% | -18.82% | 13.10% | 17.07% | 75.19% | 131.57% | 17.09% | 69.82% | -26.50% | -52.45% | -32.87% | -59.59% | -39.47% |
Free Cash Flow Margin | 13.80% | 31.02% | 18.58% | 17.31% | 8.78% | 28.38% | 22.94% | 17.34% | 11.71% | 27.17% | 23.95% | 18.81% | 14.70% | 24.38% | 21.30% | 11.23% | 6.32% | 20.90% | 12.54% | 16.26% |
Free Cash Flow Per Share | 2.48 | 5.18 | 3.84 | 2.98 | 1.57 | 4.36 | 4.27 | 2.81 | 1.98 | 4.21 | 4.49 | 3.00 | 2.47 | 3.79 | 3.88 | 1.75 | 1.08 | 3.26 | 2.31 | 2.38 |
Levered Free Cash Flow | 1,520 | 4,077 | 4,354 | 2,108 | 2,589 | 4,153 | 2,921 | 4,175 | -686.63 | 2,917 | 4,012 | 1,999 | 2,105 | 2,707 | 4,004 | 1,259 | 1,985 | 2,460 | 1,174 | 693.13 |
Unlevered Free Cash Flow | 1,824 | 4,373 | 4,652 | 2,416 | 2,908 | 4,437 | 3,186 | 4,443 | -419.75 | 3,187 | 4,265 | 2,257 | 2,369 | 2,936 | 4,200 | 1,444 | 2,170 | 2,655 | 1,363 | 874.38 |
Additional Metrics
Fiscal Quarter | Q2 2026 | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | 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 |
Cash Interest Paid | 591 | 584 | 317 | 587 | 596 | 542 | 436 | 516 | 509 | 517 | 211 | 494 | 506 | 457 | 234 | 395 | 379 | 393 | 348 | 393 |
Cash Income Tax Paid | - | - | 1,948 | - | - | - | 1,723 | - | - | - | 1,564 | - | - | - | 1,865 | - | - | - | 2,103 | - |
Change in Working Capital | -1,349 | 2,185 | -2,335 | -383 | -2,180 | 1,759 | 1,920 | -759 | -1,213 | 1,365 | 917 | 53 | -295 | 1,509 | 2,897 | -2,249 | -1,522 | 1,076 | 724 | -356 |