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IBM Corp.
IBMTechnologyGenerated Jul 5, 2026, 03:35 PM UTC
IBM (IBM Corp.) analytical snapshot. Revenue grew +2.2% YoY to $61.86B. 5-year revenue CAGR +1.4%; 10y CAGR -4.4%. Net margin at 12.13% (expanding ▲). Market cap $272.12B at $289.52 per share. Trailing P/E 35.57, P/S 4.40, P/B 8.25. EV/Operating income ≈ 43.15 (EV $324.24B). Risk: Elevated. Macro: Risk-on · Supportive. Composite analytical score -3 (data confidence 84%). Descriptive analytics from public filings — not investment advice.
Market cap
$272.12B
939.89M shares
Price
$289.52
NYQ
P/E (ttm)
35.57
Revenue (FY)
$61.86B
YoY +2.2%
Net margin
12.13%
▲ 2.00pp
Free cash flow
$12.69B
20.51% margin
Risk level
Elevated
Free SEC analysis
— computed from SEC filings, free to readFree previewFundamentals Analyst
Fundamentals
Fundamentals Analyst
score 20Improving
80% conf
Revenue grew +2.2% YoY to $61.86B. 5-year revenue CAGR +1.4%; 10y CAGR -4.4%. Net margin at 12.13% (expanding ▲).
- Revenue grew +2.2% YoY to $61.86B.
- 5-year revenue CAGR +1.4%; 10y CAGR -4.4%.
- Net margin at 12.13% (expanding ▲).
- Return on equity 27.47%, ROA 5.47%, ROIC 27.52%.
- Gross margin 55.45%, operating margin 12.15%.
- Free cash flow margin 20.51% ($12.69B).
- Net income up ▲ +357.7% YoY.
- Debt/equity 1.91, current ratio 0.80, net debt $52.13B.
- Asset turnover 0.40 — capital efficiency.
Revenue (FY)
$61.86B
YoY +2.2%
Net margin
12.13%
▲ 2.00pp
ROE
27.47%
ROA 5.47%
ROIC
27.52%
EPS (diluted)
$8.14
FY2025
Free cash flow
$12.69B
20.51% margin
Debt / equity
1.91
Cash $10.82B
Current ratio
0.80
Equity $32.97B
Annual fundamentals — up to 10 years (SEC 10-K, US-GAAP)
| FY | Revenue | Rev YoY | Gross% | Op% | Net% | FCF | ROE% |
|---|---|---|---|---|---|---|---|
| 2016 | $92.79B | — | 50.01 | 0.00 | 0.00 | $13.13B | 0.00 |
| 2017 | $81.74B | -11.9% | 49.77 | 16.35 | 16.14 | $13.68B | 72.29 |
| 2018 | $79.92B | -2.2% | 48.19 | 14.87 | 14.86 | $13.52B | 67.48 |
| 2019 | $79.14B | -1.0% | 46.68 | 7.28 | 7.27 | $13.49B | 34.25 |
| 2020 | $79.59B | +0.6% | 46.41 | 10.96 | 10.97 | $11.85B | 41.88 |
| 2021 | $57.71B | -27.5% | 54.64 | 12.38 | 16.34 | $12.48B | 45.79 |
| 2022 | $55.18B | -4.4% | 55.94 | 7.13 | 10.13 | $15.58B | 29.58 |
| 2023 | $57.35B | +3.9% | 54.90 | 8.22 | 10.01 | $10.73B | 26.17 |
| 2024 | $60.53B | +5.5% | 54.00 | 2.95 | 2.71 | $9.09B | 7.27 |
| 2025 | $61.86B | +2.2% | 55.45 | 12.15 | 12.13 | $12.69B | 27.47 |
Quarterly revenue trend (last 6 quarters, SEC 10-Q)
| Quarter end | Revenue | YoY | QoQ | Net margin |
|---|---|---|---|---|
| Mar 31, 2025 | $14.54B | +0.5% | — | 7.26% |
| Jun 30, 2025 | $31.52B | +4.3% | +116.8% | 10.31% |
| Jun 30, 2025 | $16.98B | -43.8% | -46.1% | 19.14% |
| Sep 30, 2025 | $47.85B | +5.9% | +181.8% | 10.43% |
| Sep 30, 2025 | $16.33B | -63.9% | -65.9% | 30.57% |
| Mar 31, 2026 | $15.92B | +9.5% | -2.5% | 7.64% |
Revenue (annual, SEC 10-K)
2016: 92,793
2017: 81,741
2018: 79,919
2019: 79,139
2020: 79,591
2021: 57,714
2022: 55,179
2023: 57,350
2024: 60,530
2025: 61,860
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Profitability trends (%)
GrossOperatingNet
Free cash flow (annual)
2016: 13,128
2017: 13,676
2018: 13,517
2019: 13,495
2020: 11,852
2021: 12,484
2022: 15,579
2023: 10,734
2024: 9,089
2025: 12,686
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Sources:SEC EDGAR — Company Facts (XBRL)
Free previewRegulatory Analyst
Filings & Ownership
Regulatory Analyst
score 30Improving
80% conf
Latest annual report (10-K) filed Feb 24, 2026. Latest quarterly report (10-Q) filed Apr 23, 2026. 10 recent 8-K material-event filings in the index.
- Latest annual report (10-K) filed Feb 24, 2026.
- Latest quarterly report (10-Q) filed Apr 23, 2026.
- 10 recent 8-K material-event filings in the index.
- Recent insider Form 4s: 0 buy vs 0 sell transactions.
- ~7640 recent 13F-HR filings reference IBM Corp.; broad institutional reporting.
- Recent filers include PROVIDENT INVESTMENT ADVISORS INC, ORG Wealth Partners, LLC, PROVIDENT INVESTMENT ADVISORS INC.
- 1 recent 13D activist/beneficial-ownership filings — potential catalyst.
- 3 recent 13G passive institutional ownership notices.
Latest 10-K
Feb 24, 2026
Annual report
Latest 10-Q
Apr 23, 2026
8-K (recent)
10
Insider net
—
0B/0S
13F filers
7640
Activist 13D
1
Recent 13F institutional filers (SEC EDGAR full-text)
| Filer | Form | Filed |
|---|---|---|
| PROVIDENT INVESTMENT ADVISORS INC | 13F-HR | Apr 15, 2003 |
| ORG Wealth Partners, LLC | 13F-HR | Apr 21, 2025 |
| PROVIDENT INVESTMENT ADVISORS INC | 13F-HR | Jul 16, 2003 |
| PROVIDENT INVESTMENT ADVISORS INC | 13F-HR | Oct 22, 2002 |
| PROVIDENT INVESTMENT ADVISORS INC | 13F-HR | Jan 15, 2003 |
Recent 8-K material events
| Date | Form | Description |
|---|---|---|
| Jun 23, 2026 | 8-K | 8-K |
| May 28, 2026 | 8-K | 8-K |
| May 1, 2026 | 8-K | 8-K |
| Apr 22, 2026 | 8-K | 8-K |
| Mar 3, 2026 | 8-K | 8-K |
| Feb 2, 2026 | 8-K | FORM 8-K |
| Jan 30, 2026 | 8-K | 8-K |
| Jan 28, 2026 | 8-K | 8-K |
Free previewSEC Filing Analyst
SEC Filing Deep-Analysis
SEC Filing Analyst
score -16Deteriorating
72% conf
1 risk signal(s), 1 positive signal(s), 1 watch item(s) detected from XBRL filing diff analysis. 1 positive signal(s) versus 1 risk signal(s). The filing exhibits more constructive indicators than concerns, though individual risk factors should still be monitored.
- Material weakness in internal controls: The term "material weakness" appears in 19 recent filing(s) (vs 2 in the prior period). This risk language is ongoing.
- Operating cash flow exceeds net income: OCF is 1.86x net income, indicating high earnings quality — cash conversion is strong and accruals are not inflating reported profits.
- Goodwill is 48% of total assets: Goodwill of $74.71B represents a large share of the balance sheet. If acquired businesses underperform, a non-cash impairment charge could materially impact earnings. Monitor segment performance and acquisition integration metrics.
- Endogenous analysis: 1 positive signal(s) versus 1 risk signal(s). The filing exhibits more constructive indicators than concerns, though individual risk factors should still be monitored.
- 20 disclosure(s) dropped from prior year — reduced reporting granularity.
- Ongoing high-severity risk language: Material weakness in internal controls.
Revenue
$61.86B
+2.2% YoY
Gross profit
$34.30B
+4.9% YoY
Operating income
$7.51B
+321.4% YoY
Net income
$7.50B
+357.7% YoY
Operating cash flow
$13.93B
+33.5% YoY
Capex
$1.25B
-7.5% YoY
Total assets
$137.18B
+1.4% YoY
Total liabilities
$109.78B
-2.5% YoY
Filing quality score
65/100
stable
SEC XBRL metric changes (latest annual vs prior)
| Metric | Prior year | Latest year | Change | % Change |
|---|---|---|---|---|
| Revenue | $60.53B | $61.86B | $1.33B | +2.2% |
| Gross profit | $32.69B | $34.30B | $1.61B | +4.9% |
| Operating income | $1.78B | $7.51B | $5.73B | +321.4% |
| Net income | $1.64B | $7.50B | $5.86B | +357.7% |
| Operating cash flow | $10.44B | $13.93B | $3.50B | +33.5% |
| Capex | $1.35B | $1.25B | $-101.0M | -7.5% |
| Total assets | $135.24B | $137.18B | $1.93B | +1.4% |
| Total liabilities | $112.63B | $109.78B | $-2.85B | -2.5% |
| Long-term debt | $40.89B | $45.05B | $4.16B | +10.2% |
| Cash & equivalents | $13.07B | $13.95B | $879.0M | +6.7% |
| Stockholders equity | $22.53B | $27.31B | $4.77B | +21.2% |
| Inventory | $1.16B | $1.29B | $128.0M | +11.0% |
| Accounts receivable | $7.21B | $6.80B | $-410.0M | -5.7% |
| R&D expense | $6.57B | $6.78B | $208.0M | +3.2% |
| SG&A expense | $18.61B | $19.00B | $394.0M | +2.1% |
| Interest expense | $1.22B | $1.61B | $391.0M | +32.2% |
XBRL disclosure changes (new vs dropped concepts)
| Type | Concepts |
|---|---|
| Removed | AccrualForEnvironmentalLossContingencies, AccruedEnvironmentalLossContingenciesNoncurrent, AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation, CapitalizedContractCostAmortization, CapitalizedContractCostNet, CommonStockSharesOutstanding, CurrentFederalTaxExpenseBenefit, CurrentForeignTaxExpenseBenefit, CurrentStateAndLocalTaxExpenseBenefit, DeferredFederalIncomeTaxExpenseBenefit |
Risk language in filing text (EDGAR full-text search)
| Term | Severity | Recent | Prior | Status |
|---|---|---|---|---|
| Material weakness in internal controls | high | 19 | 2 | Ongoing |
Filing signal breakdown
Red flags: 1
Positive: 1
Watch: 1
Red flags
Positive
Watch
Unlock the rest
- ProValuationMarket cap $272.12B at $289.52 per share.
- ProPrice & TechnicalsPrice $289.52 — uptrend (above 200-DMA); 1-month momentum negative.
- ProMacro & RatesMarket regime: Risk-on · Supportive.
- ProRisk ScorecardComposite risk: Elevated.
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Macro exposure
Cyclical / growth · High sensitivityMacro regime: Risk-on · Supportive. IBM Corp. is a cyclical / growth name (high macro sensitivity) — risk appetite favors cyclical/growth names.
Macro regime
Risk-on · Supportive
Yield curve
Normal
VIX
16.59
Fed funds
3.63%
CPI YoY
+4.2%
Analytical read
deterministic previewRevenue grew **+2.2%** YoY to $61.86B..
Risk
Elevated
Macro regime
Risk-on · Supportive
Macro exposure
Supportive
Descriptive analytics from public filings and macro data — not investment advice.
Peer comparison
Cyclical / growth groupHow IBM stacks up against tracked peers with similar macro sensitivity — by analytical score and macro exposure.
| Company | Score | Macro |
|---|---|---|
| Marathon Petroleum MPC | 25 | Supportive |
| Nike Inc. NKE | 24 | Supportive |
| Airbnb Inc. ABNB | 22 | Supportive |
| Datadog Inc. DDOG | 16 | Supportive |
| Okta Inc. OKTA | 15 | Supportive |
| Valero Energy VLO | 13 | Supportive |
| Deere & Co. DE | 12 | Supportive |
| ASML Holding NV ASML | 10 | Supportive |
| Marriott International MAR | 10 | Supportive |
| GE Aerospace GE | 10 | Supportive |
| United Parcel Service UPS | 9 | Supportive |
| Snowflake Inc. SNOW | 8 | Supportive |
| Cloudflare Inc. NET | 8 | Supportive |
| NVIDIA Corp. NVDA | 7 | Supportive |
| Alphabet Inc. GOOGL | 7 | Supportive |
| General Motors Co. GM | 7 | Supportive |
| Booking Holdings BKNG | 6 | Supportive |
| Nucor Corp. NUE | 5 | Supportive |
| Shopify Inc. SHOP | 5 | Supportive |
| Ulta Beauty Inc. ULTA | 5 | Supportive |
| Pinterest Inc. PINS | 5 | Supportive |
| Amazon.com Inc. AMZN | 4 | Supportive |
| Microchip Technology MCHP | 3 | Supportive |
| Warner Bros Discovery WBD | 3 | Supportive |
| Adobe Inc. ADBE | 3 | Supportive |
| Intuit Inc. INTU | 2 | Supportive |
| General Dynamics GD | 1 | Supportive |
| Roku Inc. ROKU | 1 | Supportive |
| Lockheed Martin LMT | 0 | Supportive |
| Boeing Co. BA | 0 | Supportive |
| Hess Corp. HES | 0 | Supportive |
| MercadoLibre Inc. MELI | -1 | Supportive |
| EOG Resources EOG | -2 | Supportive |
| Applied Materials Inc. AMAT | -2 | Supportive |
| IBM Corp. IBM● you | -3 | Supportive |
| Spotify Technology SPOT | -3 | Supportive |
| Energy Transfer ET | -3 | Supportive |
| Meta Platforms Inc. META | -4 | Supportive |
| Uber Technologies UBER | -4 | Supportive |
| Phillips 66 PSX | -4 | Supportive |
| United Airlines Holdings UAL | -5 | Supportive |
| Caterpillar Inc. CAT | -5 | Supportive |
| Alibaba Group BABA | -5 | Supportive |
| Comcast Corp. CMCSA | -6 | Supportive |
| TJX Cos. TJX | -6 | Supportive |
| Starbucks Corp. SBUX | -6 | Supportive |
| Schlumberger N.V. SLB | -7 | Supportive |
| Workday Inc. WDAY | -7 | Supportive |
| McDonald's Corp. MCD | -7 | Supportive |
| Micron Technology MU | -8 | Supportive |
| CF Industries CF | -8 | Supportive |
| Lam Research Corp. LRCX | -8 | Supportive |
| Albemarle Corp. ALB | -8 | Supportive |
| Delta Air Lines DAL | -8 | Supportive |
| Yum Brands Inc. YUM | -8 | Supportive |
| Linde plc LIN | -9 | Supportive |
| Home Depot Inc. HD | -10 | Supportive |
| Sherwin-Williams SHW | -10 | Supportive |
| Chipotle Mexican Grill CMG | -10 | Supportive |
| Old Dominion Freight ODFL | -10 | Supportive |
| Salesforce Inc. CRM | -11 | Supportive |
| Netflix Inc. NFLX | -12 | Supportive |
| Union Pacific Corp. UNP | -12 | Supportive |
| Norfolk Southern NSC | -13 | Supportive |
| Air Products & Chemicals APD | -13 | Supportive |
| Exxon Mobil Corp. XOM | -14 | Supportive |
| Palo Alto Networks PANW | -14 | Supportive |
| Royal Caribbean Group RCL | -15 | Supportive |
| Apple Inc. AAPL | -15 | Supportive |
| ConocoPhillips COP | -15 | Supportive |
| Zscaler Inc. ZS | -15 | Supportive |
| Occidental Petroleum OXY | -15 | Supportive |
| Devon Energy DVN | -16 | Supportive |
| Kinder Morgan KMI | -16 | Supportive |
| Cisco Systems Inc. CSCO | -16 | Supportive |
| CSX Corp. CSX | -16 | Supportive |
| Microsoft Corp. MSFT | -16 | Supportive |
| Tesla Inc. TSLA | -17 | Supportive |
| Walt Disney Co. DIS | -17 | Supportive |
| Dow Inc. DOW | -17 | Supportive |
| ON Semiconductor Corp. ON | -18 | Supportive |
| Oracle Corp. ORCL | -18 | Supportive |
| CrowdStrike Holdings CRWD | -18 | Supportive |
| Mosaic Co. MOS | -18 | Supportive |
| RTX Corp. RTX | -19 | Supportive |
| Advanced Micro Devices AMD | -19 | Supportive |
| Freeport-McMoRan FCX | -20 | Supportive |
| Dollar General Corp. DG | -20 | Supportive |
| Eaton Corp. ETN | -22 | Supportive |
| Chevron Corp. CVX | -22 | Supportive |
| T-Mobile US Inc. TMUS | -22 | Supportive |
| 3M Co. MMM | -23 | Supportive |
| Lowe's Cos. LOW | -24 | Supportive |
| Honeywell International HON | -24 | Supportive |
| Texas Instruments TXN | -25 | Supportive |
| Qualcomm Inc. QCOM | -25 | Supportive |
| Marvell Technology MRVL | -29 | Supportive |
| Verizon Communications VZ | -30 | Supportive |
| Intel Corp. INTC | -31 | Supportive |
| ServiceNow Inc. NOW | -33 | Supportive |
| Newmont Corp. NEM | -34 | Supportive |
| Autodesk Inc. ADSK | -34 | Supportive |
| Broadcom Inc. AVGO | -35 | Supportive |