IBM Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr '26 Apr 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Cap	231,318	277,535	203,626	149,650	127,659	120,157
Market Cap Growth	1.02%	36.30%	36.07%	17.23%	6.24%	11.95%
Enterprise Value	278,730	327,018	246,749	195,404	172,137	167,168
Last Close Price	246.50	296.21	219.83	163.55	140.89	133.66
PE Ratio	21.83	26.52	34.19	20.09	78.27	25.65
Forward PE	19.64	24.50	21.12	16.60	14.63	12.81
PEG Ratio	2.97	3.15	4.80	3.08	1.77	1.86
PS Ratio	3.38	4.11	3.24	2.42	2.11	2.10
PB Ratio	6.98	8.50	7.46	6.64	5.82	6.36
P/TBV Ratio	7.16	8.61	7.54	6.69	5.86	6.40
P/FCF Ratio	18.88	22.93	16.43	11.80	14.05	11.19
P/OCF Ratio	17.32	21.04	15.15	10.74	12.23	9.39
EV/Sales Ratio	4.13	4.84	3.93	3.16	2.84	2.91
EV/EBITDA Ratio	17.29	18.92	20.27	13.30	24.00	13.47
EV/EBIT Ratio	22.18	26.66	32.86	18.98	72.60	27.90
EV/FCF Ratio	23.03	27.02	19.90	15.40	18.94	15.57
Debt / Equity Ratio	1.95	1.95	2.10	2.61	2.41	2.85
Debt / EBITDA Ratio	3.05	3.74	4.80	4.08	7.53	4.44
Debt / FCF Ratio	5.95	5.34	4.71	4.72	5.94	5.14
Net Debt / Equity Ratio	1.54	1.54	1.60	2.06	2.06	2.53
Net Debt / EBITDA Ratio	2.37	2.90	3.60	3.17	6.31	3.86
Net Debt / FCF Ratio	4.63	4.15	3.53	3.67	4.98	4.46
Asset Turnover	0.47	0.47	0.46	0.47	0.47	0.40
Inventory Turnover	27.64	27.64	25.66	20.32	21.41	18.08
Quick Ratio	0.67	0.67	0.74	0.82	0.76	0.68
Current Ratio	0.96	0.96	1.04	0.96	0.92	0.88
Return on Equity (ROE)	35.16%	35.16%	24.06%	33.67%	8.69%	23.72%
Return on Assets (ROA)	8.68%	8.68%	5.72%	6.78%	2.82%	4.05%
Return on Invested Capital (ROIC)	10.31%	10.31%	6.80%	7.91%	3.20%	4.62%
Return on Capital Employed (ROCE)	11.29%	11.29%	7.32%	10.46%	2.44%	5.59%
Earnings Yield	4.64%	3.77%	2.92%	4.98%	1.28%	3.90%
FCF Yield	5.30%	4.36%	6.09%	8.48%	7.12%	8.93%
Dividend Yield	2.72%	2.27%	3.03%	4.05%	4.68%	4.90%
Payout Ratio	60.20%	59.05%	102.06%	80.51%	362.90%	102.19%
Buyback Yield / Dilution	-1.23%	-1.23%	-1.64%	-1.07%	-0.84%	-0.90%
Total Shareholder Return	1.49%	1.04%	1.40%	2.98%	3.83%	4.00%

Updated Jan 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q