International Business Machines Corporation

BASE:IBMD Stock Report

Market Cap: US$224.0b

International Business Machines Past Earnings Performance

Past criteria checks 5/6

International Business Machines has been growing earnings at an average annual rate of 26.2%, while the IT industry saw earnings growing at 10.6% annually. Revenues have been growing at an average rate of 5.5% per year. International Business Machines's return on equity is 31%, and it has net margins of 15.5%.

Key information

26.17%

Earnings growth rate

25.23%

EPS growth rate

IT Industry Growth15.31%
Revenue growth rate5.52%
Return on equity30.99%
Net Margin15.49%
Next Earnings Update21 Oct 2026

Recent past performance updates

Recent updates

Revenue & Expenses Breakdown

How International Business Machines makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

BASE:IBMD Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Jun 2669,09510,70519,4688,750
31 Mar 2668,91110,73319,5428,535
31 Dec 2567,53510,57119,3268,312
30 Sep 2565,4037,91919,1428,096
30 Jun 2564,0395,85819,1157,890
31 Mar 2562,8325,49419,1317,633
31 Dec 2462,7536,01519,2817,479
30 Sep 2462,5806,37319,0797,260
30 Jun 2462,3668,40418,7997,069
31 Mar 2462,0708,15518,5816,916
31 Dec 2361,8607,51418,9646,775
30 Sep 2361,1717,09818,5996,631
30 Jun 2360,5252,17018,7576,557
31 Mar 2360,5852,05418,9956,543
31 Dec 2260,5301,78219,2636,567
30 Sep 2260,5341,37619,5816,588
30 Jun 2259,6785,62719,6566,583
31 Mar 2258,3634,97219,6816,551
31 Dec 2157,3514,71320,0276,488
30 Sep 2142,5821,94618,3656,403
30 Jun 2146,8922,60818,6646,312
31 Mar 2150,7933,15919,0046,253
31 Dec 2055,1793,93220,5616,262
30 Sep 2075,0307,90521,3786,318
30 Jun 2075,4977,87921,4296,303
31 Mar 2076,5369,01821,0906,128
31 Dec 1957,7147,14618,7245,910
30 Sep 1977,1317,71919,8645,698
30 Jun 1977,8588,73819,6175,450
31 Mar 1978,7018,64119,8015,407
31 Dec 1879,5918,72319,3665,379
30 Sep 1880,3735,71820,6315,399
30 Jun 1880,7715,75121,5575,438
31 Mar 1880,0565,68021,0095,511
31 Dec 1779,1395,75821,1375,590
30 Sep 1778,36611,31620,4425,643
30 Jun 1778,43911,44519,4975,749
31 Mar 1779,39011,61720,1295,777
31 Dec 1679,91911,88120,2255,726
30 Sep 1680,20811,83620,1885,682
30 Jun 1680,26111,94320,1005,572
31 Mar 1680,83512,96519,7885,407
31 Dec 1581,74113,36419,5895,247
30 Sep 1583,79514,41719,8445,205

Quality Earnings: IBMD has high quality earnings.

Growing Profit Margin: IBMD's current net profit margins (15.5%) are higher than last year (9.1%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: IBMD's earnings have grown significantly by 26.2% per year over the past 5 years.

Accelerating Growth: IBMD's earnings growth over the past year (82.7%) exceeds its 5-year average (26.2% per year).

Earnings vs Industry: IBMD earnings growth over the past year (82.7%) exceeded the IT industry 10.9%.

Return on Equity

High ROE: Whilst IBMD's Return on Equity (30.99%) is high, this metric is skewed due to their high level of debt.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/18 17:07
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

International Business Machines Corporation is covered by 53 analysts. 23 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
James KelleherArgus Research Company
Robert OliverBaird
Raimo LenschowBarclays