International Business Machines Corp

$IBM Market Cap: $215.9 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$62.58B

TTM

Gross Margin

56.4%

TTM

Net Earnings

$6.397B

TTM

Current Assets

$30.54B

Q3 2024

Current Liabilities

$28.85B

Q3 2024

Current Ratio

105.86%

Q3 2024

Total Assets

$134.3B

Q3 2024

Total Liabilities

$109.9B

Q3 2024

Book Value

$24.45B

Q3 2024

Cash

$13.20B

Q3 2024

P/E

33.75

Nov 29, 2024 EST

Free Cash Flow

$12.82B

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983
Revenue	$61.86B	$60.53B	$57.35B	$55.18B	$57.71B	$79.59B	$79.14B	$79.92B	$49.91B	$92.79B	$98.37B	$102.9B	$106.9B	$99.87B	$95.76B	$103.6B	$98.79B	$91.42B	$91.13B	$96.29B	$89.13B	$81.19B	$83.07B	$85.09B	$87.55B	$81.67B	$78.51B	$75.95B	$71.94B	$64.05B	$62.72B	$64.52B	$64.77B	$68.93B	$62.71B	$59.68B	$55.26B	$52.16B	$50.06B	$45.94B	$40.18B
YoY Change	2.2%	5.54%	3.93%	-4.39%	-27.49%	0.57%	-0.98%	60.12%	-46.21%	-5.67%	-4.38%	-3.78%	7.06%	4.29%	-7.6%	4.9%	8.05%	0.32%	-5.36%	8.04%	9.79%	-2.26%	-2.38%	-2.81%	7.2%	4.02%	3.37%	5.57%	12.31%	2.13%	-2.8%	-0.38%	-6.04%	9.92%	5.08%	8.01%	5.94%	4.2%	8.97%	14.33%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983
Revenue	$61.86B	$60.53B	$57.35B	$55.18B	$57.71B	$79.59B	$79.14B	$79.92B	$49.91B	$92.79B	$98.37B	$102.9B	$106.9B	$99.87B	$95.76B	$103.6B	$98.79B	$91.42B	$91.13B	$96.29B	$89.13B	$81.19B	$83.07B	$85.09B	$87.55B	$81.67B	$78.51B	$75.95B	$71.94B	$64.05B	$62.72B	$64.52B	$64.77B	$68.93B	$62.71B	$59.68B	$55.26B	$52.16B	$50.06B	$45.94B	$40.18B
Cost Of Revenue	$27.56B	$27.84B	$25.87B	$24.31B	$26.18B	$42.66B	$42.20B	$41.40B	$41.06B	$46.39B	$49.68B	$52.51B	$56.78B	$53.86B	$51.97B	$57.97B	$57.06B	$53.13B	$54.60B	$60.72B	$56.58B	$50.90B	$51.18B	$53.51B	$55.99B	$50.80B	$47.90B	$45.41B	$41.57B	$38.77B	$38.57B	$35.07B	$32.07B	$30.72B	$27.70B	$25.65B	$25.12B	$23.15B	$21.10B	$18.92B	$16.40B
Gross Profit	$34.30B	$32.69B	$31.49B	$30.87B	$31.53B	$36.94B	$36.94B	$38.52B	$40.68B	$46.41B	$48.68B	$50.36B	$50.14B	$46.01B	$43.79B	$45.66B	$41.73B	$38.29B	$36.53B	$35.57B	$32.55B	$30.28B	$31.89B	$31.58B	$31.55B	$30.87B	$30.61B	$30.54B	$30.37B	$25.28B	$24.15B	$29.45B	$32.69B	$38.22B	$35.01B	$34.03B	$30.13B	$29.01B	$28.95B	$27.02B	$23.79B
Gross Profit Margin	55.45%	54.0%	54.9%	55.94%	54.64%	46.41%	46.68%	48.19%	81.51%	50.01%	49.49%	48.95%	46.89%	46.07%	45.72%	44.06%	42.24%	41.89%	40.09%	36.94%	36.52%	37.3%	38.39%	37.11%	36.04%	37.8%	38.99%	40.21%	42.21%	39.47%	38.5%	45.65%	50.48%	55.44%	55.83%	57.02%	54.54%	55.61%	57.84%	58.82%	59.2%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983
Selling, General & Admin	$20.04B	$18.61B	$18.75B	$20.56B	$18.72B	$19.37B	$19.68B	$20.87B	$19.51B	$23.18B	$23.45B	$23.46B	$23.59B	$21.84B	$20.19B	$23.39B	$22.06B	$20.26B	$21.31B	$20.08B	$18.60B	$18.74B	$17.05B	$17.39B	$16.29B	$16.66B	$16.63B	$16.85B	$16.77B	$15.92B	$18.28B	$19.53B	$21.38B	$20.71B	$21.29B	$19.36B	$16.54B	$15.55B	$13.00B	$11.59B	$10.61B
YoY Change	7.7%	-0.73%	-8.83%	9.81%	-3.32%	-1.6%	-5.7%	6.95%	-15.82%	-1.16%	-0.05%	-0.56%	8.05%	8.14%	-13.65%	6.01%	8.89%	-4.95%	6.15%	7.95%	-0.73%	9.91%	-1.98%	6.74%	-2.21%	0.17%	-1.31%	0.52%	5.34%	-12.94%	-6.37%	-8.65%	3.22%	-2.72%	9.95%	17.06%	6.37%	19.62%	12.19%	9.17%
% of Gross Profit	58.43%	56.93%	59.53%	66.62%	59.38%	52.43%	53.27%	54.18%	47.96%	49.95%	48.17%	46.59%	47.06%	47.46%	46.12%	51.22%	52.86%	52.9%	58.34%	56.45%	57.15%	61.87%	53.46%	55.08%	51.64%	53.97%	54.34%	55.19%	55.21%	62.95%	75.71%	66.29%	65.38%	54.19%	60.81%	56.89%	54.89%	53.61%	44.9%	42.89%	44.62%
Research & Development	$6.775B	$6.567B	$6.488B	$6.262B	$5.910B	$5.379B	$5.590B	$5.726B	$3.064B	$5.437B	$5.743B	$5.816B	$6.258B	$6.026B	$5.820B	$6.337B	$6.153B	$6.107B	$5.842B	$5.874B	$5.314B	$4.750B	$4.986B	$5.084B	$5.505B	$5.046B	$4.877B	$5.089B	$4.170B	$4.363B	$5.558B	$6.522B	$6.644B	$6.554B	$6.827B	$5.925B	$5.434B	$5.221B	$4.723B	$4.200B	$3.582B
YoY Change	3.17%	1.22%	3.61%	5.96%	9.87%	-3.77%	-2.38%	86.88%	-43.65%	-5.33%	-1.26%	-7.06%	3.85%	3.54%	-8.16%	2.99%	0.75%	4.54%	-0.54%	10.54%	11.87%	-4.73%	-1.93%	-7.65%	9.1%	3.47%	-4.17%	22.04%	-4.42%	-21.5%	-14.78%	-1.84%	1.37%	-4.0%	15.22%	9.04%	4.08%	10.54%	12.45%	17.25%
% of Gross Profit	19.75%	20.09%	20.61%	20.29%	18.74%	14.56%	15.13%	14.87%	7.53%	11.72%	11.8%	11.55%	12.48%	13.1%	13.29%	13.88%	14.75%	15.95%	15.99%	16.51%	16.33%	15.68%	15.64%	16.1%	17.45%	16.34%	15.93%	16.66%	13.73%	17.26%	23.02%	22.14%	20.32%	17.15%	19.5%	17.41%	18.03%	18.0%	16.31%	15.55%	15.06%
Depreciation & Amortization	$4.395B	$4.802B	$3.888B	$4.227B	$4.209B	$3.127B	$3.021B	$4.381B	$2.662B	$3.145B	$3.327B	$3.392B	$3.589B	$3.657B	$4.994B	$5.450B	$5.201B	$4.983B	$5.188B	$4.915B	$4.916B	$4.493B	$4.506B	$4.706B	$6.585B	$4.992B	$5.001B	$5.012B	$5.602B	$6.295B	$6.661B	$6.259B	$6.336B	$5.303B	$5.425B	$4.764B	$4.397B	$4.003B
YoY Change	-8.48%	23.51%	-8.02%	0.43%	34.6%	3.51%	-31.04%	64.58%	-15.36%	-5.47%	-1.92%	-5.49%	-1.86%	-26.77%	-8.37%	4.79%	4.37%	-3.95%	5.55%	-0.02%	9.41%	-0.29%	-4.25%	-28.53%	31.91%	-0.18%	-0.22%	-10.53%	-11.01%	-5.49%	6.42%	-1.22%	19.48%	-2.25%	13.87%	8.35%	9.84%
% of Gross Profit	12.81%	14.69%	12.35%	13.7%	13.35%	8.47%	8.18%	11.37%	6.54%	6.78%	6.83%	6.74%	7.16%	7.95%	11.41%	11.94%	12.46%	13.01%	14.2%	13.82%	15.1%	14.84%	14.13%	14.9%	20.87%	16.17%	16.34%	16.41%	18.45%	24.9%	27.58%	21.25%	19.38%	13.88%	15.5%	14.0%	14.59%	13.8%
Operating Expenses	$25.09B	$23.41B	$25.23B	$26.82B	$24.63B	$24.75B	$25.27B	$26.60B	$3.064B	$28.62B	$29.19B	$29.28B	$29.85B	$27.86B	$26.30B	$29.72B	$28.21B	$26.37B	$27.16B	$25.95B	$23.92B	$23.49B	$22.03B	$22.48B	$21.80B	$21.71B	$21.51B	$21.94B	$20.94B	$20.28B	$23.84B	$26.05B	$28.02B	$27.26B	$28.12B	$25.29B	$21.97B	$20.77B	$17.72B	$15.79B	$14.20B
YoY Change	7.17%	-7.21%	-5.93%	8.89%	-0.45%	-2.08%	-4.98%	767.98%	-89.29%	-1.98%	-0.29%	-1.92%	7.14%	5.93%	-11.51%	5.35%	7.01%	-2.91%	4.64%	8.52%	1.82%	6.6%	-1.97%	3.11%	0.42%	0.92%	-1.97%	4.81%	3.24%	-14.94%	-8.48%	-7.03%	2.77%	-3.03%	11.19%	15.08%	5.79%	17.2%	12.26%	11.21%
Operating Profit	$9.209B	$9.274B	$6.253B	$4.042B	$6.899B	$12.19B	$11.67B	$11.92B	$37.62B	$17.79B	$19.49B	$21.08B	$20.29B	$18.15B	$17.48B	$15.94B	$13.52B	$11.93B	$9.376B	$9.616B	$8.632B	$6.796B	$9.855B	$9.101B	$9.755B	$9.164B	$9.098B	$8.596B	$9.431B	$5.005B	$308.0M	$3.406B	$4.674B	$10.95B	$6.893B	$8.746B	$8.160B	$8.236B	$11.23B	$11.23B	$9.589B
YoY Change	-0.7%	48.31%	54.7%	-41.41%	-43.41%	4.44%	-2.08%	-68.31%	111.47%	-8.72%	-7.55%	3.92%	11.76%	3.82%	9.69%	17.92%	13.31%	27.22%	-2.5%	11.4%	27.02%	-31.04%	8.28%	-6.7%	6.45%	0.73%	5.84%	-8.85%	88.43%	1525.0%	-90.96%	-27.13%	-57.33%	58.9%	-21.19%	7.18%	-0.92%	-26.66%	-0.01%	17.12%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983
Interest Expense	-$1.607B	-$1.567B	$1.155B	$1.288B	$1.344B	$723.0M	$615.0M	-$518.0M	$468.0M	$484.0M	$402.0M	$459.0M	$411.0M	$368.0M	-$407.0M	-$581.0M	-$217.0M	$293.0M	-$220.0M	-$139.0M	-$145.0M	$84.00M	-$234.0M	-$344.0M	-$352.0M	-$713.0M	-$728.0M	-$716.0M	-$725.0M	-$1.227B	-$1.273B	-$1.360B	-$1.423B	-$1.324B	-$976.0M	-$709.0M	-$485.0M	-$475.0M	-$443.0M	-$408.0M	-$390.0M
YoY Change	2.55%	-235.67%	-10.33%	-4.17%	85.89%	17.56%	-218.73%	-210.68%	-3.31%	20.4%	-12.42%	11.68%	11.68%	-190.42%	-29.95%	167.74%	-174.06%	-233.18%	58.27%	-4.14%	-272.62%	-135.9%	-31.98%	-2.27%	-50.63%	-2.06%	1.68%	-1.24%	-40.91%	-3.61%	-6.4%	-4.43%	7.48%	35.66%	37.66%	46.19%	2.11%	7.22%	8.58%	4.62%
% of Operating Profit	-17.45%	-16.9%	18.47%	31.87%	19.48%	5.93%	5.27%	-4.35%	1.24%	2.72%	2.06%	2.18%	2.03%	2.03%	-2.33%	-3.65%	-1.61%	2.46%	-2.35%	-1.45%	-1.68%	1.24%	-2.37%	-3.78%	-3.61%	-7.78%	-8.0%	-8.33%	-7.69%	-24.52%	-413.31%	-39.93%	-30.45%	-12.09%	-14.16%	-8.11%	-5.94%	-5.77%	-3.94%	-3.63%	-4.07%
Other Income/Expense, Net	$266.0M	$443.0M	$225.0M	$156.0M					$1.000M						$1.529B	$1.332B	$1.172B	$1.054B	$3.070B	$1.192B	$930.0M	$636.0M	$1.829B	$2.654B	$2.354B	$589.0M	$657.0M	$707.0M	$947.0M	$1.377B	$1.113B	$573.0M	$602.0M	$495.0M	$728.0M	$996.0M	$955.0M	$646.0M	$832.0M	$800.0M	$741.0M
YoY Change	-39.95%	96.89%	44.23%												14.79%	13.65%	11.2%	-65.67%	157.55%	28.17%	46.23%	-65.23%	-31.09%	12.74%	299.66%	-10.35%	-7.07%	-25.34%	-31.23%	23.72%	94.24%	-4.82%	21.62%	-32.01%	-26.91%	4.29%	47.83%	-22.36%	4.0%	7.96%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983
Pretax Income	$8.690B	$1.156B	$4.837B	$2.572B	$7.206B	$11.34B	$11.40B	$12.33B	$5.915B	$19.99B	$20.24B	$22.54B	$21.00B	$19.72B	$18.14B	$16.72B	$14.49B	$13.32B	$12.23B	$10.67B	$9.417B	$7.524B	$11.45B	$11.41B	$11.76B	$9.040B	$9.027B	$8.587B	$7.813B	$5.155B	-$8.797B	-$9.026B	$118.0M	$10.12B	$6.645B	$9.033B	$8.630B	$8.407B	$11.62B	$11.62B	$9.940B
YoY Change	651.73%	-76.1%	88.06%	-64.31%	-36.47%	-0.51%	-7.54%	108.45%	-70.4%	-1.27%	-10.19%	7.32%	6.49%	8.74%	8.51%	15.36%	8.81%	8.92%	14.59%	13.3%	25.16%	-34.29%	0.34%	-2.94%	30.06%	0.14%	5.12%	9.91%	51.56%	-158.6%	-2.54%	-7749.15%	-98.83%	52.36%	-26.44%	4.67%	2.65%	-27.64%	-0.03%	16.93%
Income Tax	$1.271B	-$696.0M	$124.0M	-$1.360B	$60.00M	$2.619B	$5.642B	$449.0M	$2.581B	$4.234B	$3.363B	$5.541B	$5.148B	$4.890B	$4.713B	$4.381B	$4.071B	$3.901B	$4.232B	$3.172B	$2.829B	$2.190B	$3.304B	$3.537B	$4.045B	$2.712B	$2.934B	$3.158B	$3.635B	$2.134B	-$810.0M	-$2.161B	$716.0M	$4.157B	$2.887B	$3.542B	$3.372B	$3.618B	$5.064B	$5.041B	$4.455B
% Of Pretax Income	14.63%	-60.21%	2.56%	-52.88%	0.83%	23.09%	49.49%	3.64%	43.63%	21.18%	16.61%	24.58%	24.51%	24.79%	25.98%	26.21%	28.1%	29.3%	34.61%	29.73%	30.04%	29.11%	28.86%	31.0%	34.41%	30.0%	32.5%	36.78%	46.53%	41.4%			606.78%	41.06%	43.45%	39.21%	39.07%	43.04%	43.58%	43.37%	44.82%
Net Earnings	$7.502B	$1.639B	$5.743B	$5.590B	$9.431B	$8.728B	$5.753B	$11.87B	$13.19B	$12.02B	$16.48B	$16.60B	$15.86B	$14.83B	$13.43B	$12.33B	$10.42B	$9.491B	$7.934B	$7.479B	$6.558B	$3.579B	$7.723B	$8.093B	$7.712B	$6.328B	$6.093B	$5.429B	$4.178B	$3.021B	-$8.101B	-$4.965B	-$2.861B	$5.967B	$3.758B	$5.806B	$5.258B	$4.789B	$6.555B	$6.582B	$5.485B
YoY Change	357.72%	-71.46%	2.74%	-40.73%	8.05%	51.71%	-51.54%	-9.99%	9.72%	-27.06%	-0.73%	4.72%	6.89%	10.49%	8.85%	18.39%	9.77%	19.62%	6.08%	14.04%	83.24%	-53.66%	-4.57%	4.94%	21.87%	3.86%	12.23%	29.94%	38.3%	-137.29%	63.16%	73.54%	-147.95%	58.78%	-35.27%	10.42%	9.79%	-26.94%	-0.41%	20.0%
Net Earnings / Revenue	12.13%	2.71%	10.01%	10.13%	16.34%	10.97%	7.27%	14.86%	26.43%	12.96%	16.76%	16.14%	14.83%	14.85%	14.02%	11.9%	10.55%	10.38%	8.71%	7.77%	7.36%	4.41%	9.3%	9.51%	8.81%	7.75%	7.76%	7.15%	5.81%	4.72%	-12.92%	-7.69%	-4.42%	8.66%	5.99%	9.73%	9.52%	9.18%	13.1%	14.33%	13.65%
Basic Earnings Per Share	$8.23	$1.82	$6.41	$6.28	$10.63	$9.57	$6.17		$13.48	$11.97	$15.06	$14.53	$13.25	$11.69		$9.02	$7.27
Diluted Earnings Per Share	$8.13	$1.797M	$6.35	$6.23	$10.56	$9.52	$6.14	$12.38M	$13.42	$11.90	$14.94	$14.37	$13.06	$11.52	$10.01M	$8.89	$7.15	$6.107M	$4.873M	$4.381M	$3.735M	$2.068M	$4.361M	$4.466M	$4.122M	$3.296M	$3.013M	$2.515M	$1.789M	$1.265M	-$3.533M	-$2.174M	-$1.250M	$2.605M	$1.617M	$2.450M	$2.180M	$1.954M	$2.669M	$2.691M	$2.260M

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992	1991	1990	1989	1988	1987	1986	1985	1984	1983
Cash & Short-Term Investments	$13.44B	$8.738B	$7.250B	$13.79B	$8.868B	$12.00B	$12.59B	$8.538B	$8.200B	$8.500B	$11.10B	$11.14B	$11.92B	$11.65B	$13.97B	$12.91B	$16.15B	$10.66B	$13.69B	$10.57B	$7.647B	$5.975B	$6.393B	$3.722B	$5.831B	$5.768B	$7.553B	$8.137B	$7.701B	$10.55B	$7.133B	$5.649B	$5.151B	$4.551B	$4.961B	$6.123B	$7.421B	$7.257B	$5.622B	$4.362B	$5.536B
YoY Change	53.82%	20.52%	-47.42%	55.48%	-26.09%	-4.71%	47.48%	4.12%	-3.53%	-23.44%	-0.32%	-6.58%	2.33%	-16.62%	8.27%	-20.06%	51.52%	-22.14%	29.48%	38.22%	27.98%	-6.54%	71.76%	-36.17%	1.09%	-23.63%	-7.18%	5.66%	-27.03%	47.96%	26.27%	9.67%	13.18%	-8.26%	-18.98%	-17.49%	2.26%	29.08%	28.89%	-21.21%
Cash & Equivalents	$13.07B	$7.886B	$6.650B	$13.19B	$8.172B	$11.38B	$11.97B	$7.826B	$7.686B	$8.476B	$10.72B	$10.41B	$11.92B	$10.66B	$12.18B	$12.74B	$14.99B	$8.022B	$12.57B	$10.05B	$7.290B	$5.382B	$6.330B	$3.563B	$5.043B	$5.375B	$7.106B	$7.687B	$5.513B	$7.922B	$5.861B	$4.446B	$3.945B	$3.853B	$3.700B	$4.175B	$3.467B	$755.0M	$896.0M	$600.0M	$616.0M
Short-Term Investments	$373.0M	$852.0M	$600.0M	$600.0M	$696.0M	$620.0M	$620.0M	$712.0M	$514.0M	$24.00M	$386.0M	$726.0M	$0.00	$990.0M	$1.791B	$166.0M	$1.155B	$2.634B	$1.118B	$517.0M	$357.0M	$593.0M	$63.00M	$159.0M	$788.0M	$393.0M	$447.0M	$450.0M	$442.0M	$2.632B	$1.272B	$1.203B	$1.206B	$698.0M	$1.261B	$1.948B	$3.954B	$6.502B	$4.726B	$3.762B	$4.920B
Other Short-Term Assets	$3.659B	$3.680B	$5.233B	$6.195B	$3.714B	$4.902B	$3.930B	$4.552B	$4.199B	$4.943B	$6.102B	$5.430B	$6.849B	$5.790B	$5.676B	$5.841B	$5.578B	$4.345B	$4.706B	$5.121B	$5.150B	$5.241B	$4.746B	$4.667B	$4.838B	$4.611B	$3.900B	$3.521B	$3.265B	$2.917B	$5.092B	$4.054B	$1.657B	$1.617B	$1.287B	$1.555B	$1.548B	$1.628B	$1.303B	$1.304B	$1.191B
YoY Change	-0.57%	-29.68%	-15.53%	66.8%	-24.24%	24.73%	-13.66%	8.41%	-15.05%	-18.99%	12.38%	-20.72%	18.29%	2.01%	-2.82%	4.71%	28.38%	-7.67%	-8.1%	-0.56%	-1.74%	10.43%	1.69%	-3.53%	4.92%	18.23%	10.76%	7.84%	11.93%	-42.71%	25.6%	144.66%	2.47%	25.64%	-17.23%	0.45%	-4.91%	24.94%	-0.08%	9.49%
Inventory	$1.161B	$1.552B	$1.649B	$1.812B	$1.619B	$1.682B	$1.583B	$1.553B	$1.551B	$2.103B	$2.310B	$2.287B	$2.596B	$2.450B	$2.493B	$2.700B	$2.664B	$2.810B	$2.841B	$3.316B	$2.942B	$3.148B	$4.304B	$4.765B	$4.868B	$5.200B	$5.139B	$5.870B	$6.323B	$6.334B	$7.565B	$8.385B	$9.844B	$10.11B	$9.463B	$9.565B	$8.659B	$8.039B	$8.579B	$6.598B	$4.381B
Prepaid Expenses
Receivables	$7.214B	$6.541B	$7.184B	$6.166B	$8.294B	$7.432B	$8.928B	$9.182B	$8.333B	$9.090B	$10.47B	$10.67B	$28.39B	$27.43B	$26.09B	$26.73B	$28.01B	$26.19B	$23.71B	$27.00B	$28.34B	$27.36B	$27.02B	$30.73B	$27.62B	$26.78B	$23.83B	$23.17B	$23.40B	$21.53B	$19.41B	$21.60B	$24.32B	$22.64B	$20.16B	$18.10B	$16.74B	$10.83B	$10.57B	$8.111B	$6.222B
Other Receivables	$7.433B	$8.607B	$8.223B	$11.20B	$15.93B	$23.13B	$22.70B	$20.06B	$20.22B	$22.74B	$21.37B	$19.91B	$1.170B	$792.0M	$705.0M	$821.0M	$776.0M	$657.0M	$716.0M	$1.132B	$581.0M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$32.91B	$29.12B	$29.54B	$39.17B	$38.42B	$49.15B	$49.74B	$43.89B	$42.50B	$47.38B	$51.35B	$49.43B	$50.93B	$48.12B	$48.94B	$49.00B	$53.18B	$44.66B	$45.66B	$47.14B	$44.66B	$41.72B	$42.46B	$43.88B	$43.16B	$42.36B	$40.42B	$40.70B	$40.69B	$41.34B	$39.20B	$39.69B	$40.97B	$38.92B	$35.88B	$35.34B	$34.37B	$27.75B	$26.07B	$20.38B	$17.33B
YoY Change	13.02%	-1.43%	-24.58%	1.94%	-21.82%	-1.18%	13.32%	3.26%	-10.29%	-7.74%	3.88%	-2.94%	5.84%	-1.68%	-0.14%	-7.85%	19.07%	-2.19%	-3.14%	5.56%	7.05%	-1.74%	-3.23%	1.68%	1.88%	4.8%	-0.68%	0.01%	-1.57%	5.45%	-1.23%	-3.12%	5.26%	8.49%	1.51%	2.83%	23.86%	6.44%	27.95%	17.57%
Property, Plant & Equipment	$8.721B	$8.212B	$8.917B	$9.771B	$15.01B	$10.79B	$11.12B	$10.83B	$10.73B	$10.77B	$13.82B	$14.00B	$13.88B	$14.10B	$14.16B	$14.30B	$15.08B	$14.44B	$13.76B	$15.18B	$14.69B	$14.44B	$16.50B	$16.71B	$17.59B	$19.63B	$18.35B	$17.41B	$16.58B	$16.66B	$17.52B	$21.60B	$27.58B	$27.24B	$24.94B	$23.43B	$22.97B	$21.27B	$19.68B	$16.36B	$16.14B
YoY Change	6.2%	-7.91%	-8.74%	-34.89%	39.05%	-2.92%	2.64%	0.97%	-0.41%	-22.07%	-1.25%	0.81%	-1.51%	-0.48%	-0.98%	-5.16%	4.45%	4.97%	-9.35%	3.31%	1.72%	-12.51%	-1.26%	-4.98%	-10.4%	7.0%	5.4%	4.99%	-0.51%	-4.89%	-18.87%	-21.69%	1.24%	9.21%	6.48%	2.0%	7.99%	8.07%	20.27%	1.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$1.626B	$1.617B	$206.0M	$216.0M	$222.0M	$573.0M	$879.0M	$698.0M	$475.0M	$594.0M	$310.0M	$1.687B	$4.895B	$5.778B	$5.379B	$5.058B	$5.248B	$4.501B	$3.142B	$2.444B	$3.006B	$3.124B	$2.833B	$3.043B	$3.674B	$14.81B	$13.97B	$13.96B	$13.82B	$20.13B	$20.69B	$21.30B	$19.44B	$17.31B	$13.62B	$11.46B	$10.31B	$8.797B	$6.884B	$6.070B	$3.989B
YoY Change	0.56%	684.95%	-4.63%	-2.7%	-61.26%	-34.81%	25.93%	46.95%	-20.03%	91.61%	-81.62%	-65.54%	-15.28%	7.42%	6.35%	-3.62%	16.6%	43.25%	28.56%	-18.7%	-3.78%	10.27%	-6.9%	-17.17%	-75.19%	5.97%	0.11%	0.98%	-31.32%	-2.71%	-2.87%	9.55%	12.34%	27.05%	18.88%	11.16%	17.19%	27.79%	13.41%	52.17%
Other Assets	$15.01B	$15.36B	$19.58B	$31.81B	$16.09B	$14.01B	$13.09B	$11.73B	$10.75B	$13.25B	$12.76B	$8.047B	$6.345B	$6.288B	$7.196B	$8.871B	$18.93B	$14.51B	$22.46B	$25.07B	$22.71B	$20.32B	$13.79B	$9.774B	$8.290B	$7.757B	$6.991B	$6.570B	$5.911B
YoY Change	-2.29%	-21.56%	-38.44%	97.64%	14.85%	7.04%	11.6%	9.09%	-18.86%	3.86%	58.54%	26.82%	0.91%	-12.62%	-18.88%	-53.14%	30.47%	-35.39%	-10.4%	10.35%	11.8%	47.31%	41.11%	17.9%	6.87%	10.96%	6.41%	11.15%
Total Long-Term Assets	$102.3B	$98.13B	$102.5B	$116.8B	$113.8B	$74.24B	$75.62B	$73.58B	$67.99B	$69.89B	$74.87B	$69.78B	$65.51B	$65.33B	$60.09B	$60.52B	$67.26B	$58.57B	$60.09B	$63.86B	$59.80B	$54.76B	$47.84B	$44.47B	$44.34B	$43.74B	$41.08B	$40.44B	$39.60B	$39.75B	$41.91B	$47.01B	$51.50B	$48.65B	$41.86B	$37.69B	$35.66B	$30.07B	$26.56B	$22.43B	$20.13B
YoY Change	4.29%	-4.23%	-12.28%	2.67%	53.25%	-1.83%	2.77%	8.22%	-2.72%	-6.65%	7.3%	6.53%	0.26%	8.73%	-0.72%	-10.01%	14.82%	-2.52%	-5.91%	6.8%	9.19%	14.46%	7.59%	0.29%	1.37%	6.47%	1.59%	2.11%	-0.38%	-5.15%	-10.85%	-8.72%	5.87%	16.22%	11.05%	5.7%	18.61%	13.18%	18.41%	11.44%
Total Assets	$135.2B	$127.2B	$132.0B	$156.0B	$152.2B	$123.4B	$125.4B	$117.5B	$110.5B	$117.3B	$126.2B	$119.2B	$116.4B	$113.5B	$109.0B	$109.5B	$120.4B	$103.2B	$105.7B	$111.0B	$104.5B	$96.48B	$90.30B	$88.35B	$87.50B	$86.10B	$81.50B	$81.13B	$80.29B	$81.09B	$81.11B	$86.71B	$92.47B	$87.57B	$77.73B	$73.04B	$70.03B	$57.81B	$52.63B	$42.81B	$37.46B
YoY Change
Accounts Payable	$4.132B	$4.051B	$3.955B	$4.033B	$4.896B	$6.558B	$6.451B	$6.209B	$6.028B	$6.864B	$7.461B	$7.952B	$8.517B	$7.804B	$7.436B	$7.014B	$8.054B	$7.964B	$7.349B	$9.444B	$8.460B	$7.630B	$7.047B	$8.192B	$6.400B	$6.252B	$5.215B	$4.767B	$4.511B	$3.778B	$3.400B	$3.147B	$3.507B	$3.367B	$3.167B	$2.702B	$2.632B	$1.970B	$1.823B	$1.618B	$1.253B
YoY Change	2.0%	2.43%	-1.93%	-17.63%	-25.34%	1.66%	3.9%	3.0%	-12.18%	-8.0%	-6.17%	-6.63%	9.14%	4.95%	6.02%	-12.91%	1.13%	8.37%	-22.18%	11.63%	10.88%	8.27%	-13.98%	28.0%	2.37%	19.88%	9.4%	5.68%	19.4%	11.12%	8.04%	-10.27%	4.16%	6.32%	17.21%	2.66%	33.6%	8.06%	12.67%	29.13%
Accrued Expenses	$820.0M	$874.0M	$8.070B	$9.722B	$9.143B	$7.073B	$7.776B	$8.137B	$7.913B	$10.03B	$8.641B	$9.592B	$9.634B	$10.18B	$9.728B	$11.20B	$10.55B	$9.967B	$8.558B	$10.34B	$10.55B	$10.14B	$8.017B	$8.666B	$9.627B	$9.430B	$9.236B	$9.607B	$9.465B	$10.63B	$12.49B	$12.83B	$10.81B	$8.642B	$8.577B	$6.754B	$6.209B	$6.366B	$4.837B	$4.180B	$3.775B
YoY Change	-6.18%	-89.17%	-16.99%	6.33%	29.27%	-9.04%	-4.44%	2.83%	-21.07%	16.02%	-9.91%	-0.44%	-5.4%	4.69%	-13.17%	6.23%	5.81%	16.46%	-17.23%	-1.99%	4.07%	26.44%	-7.49%	-9.98%	2.09%	2.1%	-3.86%	1.5%	-10.98%	-14.87%	-2.64%	18.7%	25.05%	0.76%	26.99%	8.78%	-2.47%	31.61%	15.72%	10.73%
Deferred Revenue
YoY Change
Short-Term Debt	$1.000M	$8.000M	$22.00M	$130.0M	$1.275B	$3.156B	$1.772B	$1.274B	$1.190B	$1.130B	$3.008B	$3.589B	$4.159B	$2.761B	$1.946B	$2.295B	$8.545B	$6.134B	$4.228B	$4.491B	$3.473B	$2.315B	$6.373B	$7.496B	$8.425B	$11.26B	$10.28B	$10.04B	$8.688B	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-87.5%	-63.64%	-83.08%	-89.8%	-59.6%	78.1%	39.09%	7.06%	5.31%	-62.43%	-16.19%	-13.71%	50.63%	41.88%	-15.21%	-73.14%	39.31%	45.08%	-5.86%	29.31%	50.02%	-63.67%	-14.98%	-11.03%	-25.14%	9.46%	2.46%	15.5%
Long-Term Debt Due	$6.426B	$4.760B	$6.765B	$6.986B	$7.522B	$7.051B	$5.215B	$6.239B	$5.271B	$4.601B	$3.854B	$5.592B	$4.306B	$4.017B	$2.222B	$8.942B	$3.690B	$2.768B	$2.988B	$3.608B	$3.173B	$3.716B	$4.815B	$2.709B	$5.805B	$2.650B	$2.948B	$2.922B	$2.881B	$9.570B	$12.10B	$16.47B	$13.72B	$7.602B	$5.892B	$4.862B	$3.971B	$1.410B	$1.293B	$834.0M	$532.0M
YoY Change	35.0%	-29.64%	-3.16%	-7.13%	6.68%	35.21%	-16.41%	18.36%	14.56%	19.38%	-31.08%	29.87%	7.19%	80.78%	-75.15%	142.33%	33.31%	-7.36%	-17.18%	13.71%	-14.61%	-22.82%	77.74%	-53.33%	119.06%	-10.11%	0.89%	1.42%	-69.9%	-20.89%	-26.54%	20.06%	80.43%	29.02%	21.18%	22.44%	181.63%	9.05%	55.04%	56.77%
Total Short-Term Liabilities	$34.12B	$31.51B	$33.62B	$39.87B	$37.70B	$38.23B	$37.36B	$36.28B	$34.27B	$39.58B	$40.15B	$43.63B	$42.13B	$40.56B	$36.00B	$42.44B	$44.31B	$40.09B	$35.15B	$39.79B	$37.62B	$34.22B	$35.12B	$36.41B	$39.58B	$36.83B	$33.51B	$34.00B	$31.65B	$29.23B	$33.15B	$36.74B	$33.95B	$25.28B	$21.70B	$17.39B	$15.94B	$12.74B	$11.43B	$9.640B	$9.162B
YoY Change	8.31%	-6.29%	-15.68%	5.75%	-1.38%	2.31%	3.0%	5.85%	-13.42%	-1.43%	-7.96%	3.56%	3.86%	12.66%	-15.16%	-4.23%	10.53%	14.05%	-11.65%	5.75%	9.94%	-2.56%	-3.54%	-8.01%	7.47%	9.91%	-1.45%	7.43%	8.29%	-11.84%	-9.76%	8.21%	34.32%	16.48%	24.81%	9.08%	25.08%	11.46%	18.6%	5.22%
Long-Term Debt	$50.12B	$46.19B	$44.92B	$54.22B	$54.10B	$35.61B	$39.84B	$34.66B	$33.43B	$34.99B	$32.86B	$24.09B	$22.86B	$21.85B	$21.93B	$22.69B	$23.04B	$13.78B	$15.43B	$14.83B	$16.99B	$19.99B	$15.96B	$18.37B	$14.12B	$15.51B	$13.70B	$9.872B	$10.06B	$12.55B	$15.25B	$12.85B	$13.23B	$11.94B	$10.83B	$8.518B	$7.108B	$4.169B	$3.955B	$3.269B	$2.674B
YoY Change	8.51%	2.83%	-17.15%	0.21%	51.95%	-10.62%	14.95%	3.67%	-4.47%	6.5%	36.4%	5.39%	4.63%	-0.39%	-3.34%	-1.52%	67.19%	-10.66%	4.03%	-12.7%	-15.01%	25.2%	-13.11%	30.07%	-8.92%	13.23%	38.74%	-1.87%	-19.83%	-17.69%	18.61%	-2.86%	10.78%	10.33%	27.08%	19.84%	70.5%	5.41%	20.99%	22.25%
Other Long-Term Liabilities	$28.39B	$27.53B	$30.51B	$36.20B	$34.17B	$28.93B	$29.89B	$27.72B	$28.12B	$30.56B	$28.54B	$32.07B	$30.67B	$27.49B	$27.86B	$30.55B	$23.55B	$20.19B	$20.46B	$22.93B	$20.15B	$18.05B	$14.29B	$11.33B	$11.93B	$12.82B	$12.99B	$14.01B	$14.35B	$14.02B	$11.18B	$7.461B	$6.685B	$3.656B	$3.420B	$3.000B	$3.045B	$2.004B	$1.606B	$1.353B	$1.475B
YoY Change	3.11%	-9.78%	-15.71%	5.95%	18.13%	-3.22%	7.8%	-1.41%	-7.97%	7.05%	-10.99%	4.57%	11.55%	-1.34%	-8.78%	29.71%	16.62%	-1.3%	-10.79%	13.8%	11.66%	26.3%	26.16%	-5.06%	-6.94%	-1.35%	-7.23%	-2.43%	2.36%	25.46%	49.81%	11.61%	82.85%	6.9%	14.0%	-1.48%	51.95%	24.78%	18.7%	-8.27%
Total Long-Term Liabilities	$78.51B	$73.72B	$75.43B	$90.42B	$88.27B	$64.53B	$69.72B	$62.38B	$61.55B	$65.55B	$61.40B	$56.16B	$53.53B	$49.34B	$49.80B	$53.23B	$46.59B	$33.97B	$35.88B	$37.76B	$37.14B	$38.03B	$30.25B	$29.70B	$26.05B	$28.33B	$26.69B	$23.88B	$24.41B	$26.57B	$26.42B	$20.31B	$19.92B	$15.60B	$14.25B	$11.52B	$10.15B	$6.173B	$5.561B	$4.622B	$4.149B
YoY Change	6.5%	-2.27%	-16.58%	2.43%	36.79%	-7.45%	11.77%	1.35%	-6.1%	6.76%	9.34%	4.92%	8.49%	-0.92%	-6.46%	14.27%	37.13%	-5.32%	-4.97%	1.68%	-2.36%	25.72%	1.87%	13.99%	-8.03%	6.13%	11.78%	-2.2%	-8.12%	0.56%	30.07%	2.0%	27.67%	9.51%	23.68%	13.44%	64.47%	11.01%	20.32%	11.4%
Total Liabilities	$112.7B	$105.3B	$113.1B	$135.4B	$131.3B	$106.6B	$107.8B	$99.22B	$96.23B	$105.4B	$103.4B	$100.4B	$96.30B	$90.40B	$86.39B	$96.06B	$91.96B	$74.73B	$72.65B	$79.32B	$76.59B	$73.70B	$66.86B	$67.73B	$66.98B	$66.67B	$61.68B	$59.50B	$57.87B	$57.68B	$61.38B	$59.08B	$55.79B	$44.74B	$39.23B	$33.53B	$31.77B	$23.44B	$20.64B	$16.32B	$14.24B
YoY Change	7.04%	-6.9%	-16.45%	3.07%	23.23%	-1.09%	8.6%	3.11%	-8.7%	1.91%	3.07%	4.21%	6.52%	4.65%	-10.07%	4.46%	23.06%	2.86%	-8.4%	3.55%	3.92%	10.24%	-1.28%	1.11%	0.48%	8.08%	3.66%	2.83%	0.33%	-6.02%	3.88%	5.89%	24.72%	14.05%	16.99%	5.55%	35.52%	13.54%	26.5%	14.58%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2008	2007
Basic Shares Outstanding	911.2M shares	902.7M	896.0M	890.3M	887.2M	912.0M	932.8M	955.4M	978.7M shares	1.004B shares	1.094B shares	1.143B shares	1.197B shares	1.269B shares	1.369B shares	1.434B shares
Diluted Shares Outstanding	922.1M shares	912.3M	904.6M	896.6M	892.8M	916.3M	937.4M		982.7M shares	1.010B shares	1.103B shares	1.155B shares	1.214B shares	1.287B shares	1.388B shares	1.457B shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $215.9 Billion

About INTERNATIONAL BUSINESS MACHINES CORP

International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. The company is headquartered in Armonk, New York and currently employs 305,300 full-time employees. Its segments include Software, Consulting, Infrastructure and Financing. Its Software segment comprises two business areas: Hybrid Platform & Solutions, which includes software to help clients operate, manage and optimize their IT resources and business processes within hybrid, multi-cloud environments, and transaction processing, which includes software that supports client’s mission-critical, on-premises workloads in industries such as banking, airlines and retail. Consulting segment is engaged in business transformation, technology consulting and application operations. Infrastructure segment is engaged in hybrid infrastructure and infrastructure support. Financing segment is engaged in client financing and commercial financing.

Industry: Computer & office Equipment Peers: AMDOCS LTD GRID DYNAMICS HOLDINGS, INC. COGNIZANT TECHNOLOGY SOLUTIONS CORP DXC Technology Co EPAM Systems, Inc. GARTNER INC Kyndryl Holdings, Inc. PERFICIENT INC Thoughtworks Holding, Inc.