International Business Machines Corporation

NYSE:IBM Stock Report

Market Cap: US$207.0b

International Business Machines Past Earnings Performance

Past criteria checks 0/6

International Business Machines's earnings have been declining at an average annual rate of -3.2%, while the IT industry saw earnings growing at 6.4% annually. Revenues have been declining at an average rate of 2.1% per year. International Business Machines's return on equity is 26%, and it has net margins of 10.2%.

Key information

-3.2%

Earnings growth rate

-4.1%

EPS growth rate

IT Industry Growth22.4%
Revenue growth rate-2.1%
Return on equity26.0%
Net Margin10.2%
Next Earnings Update29 Jan 2025

Recent past performance updates

International Business Machines' (NYSE:IBM) Soft Earnings Are Actually Better Than They Appear

Oct 30
International Business Machines' (NYSE:IBM) Soft Earnings Are Actually Better Than They Appear

Recent updates

IBM Is In The Midst Of An AI Renaissance - Stop Doubting That

Dec 08

International Business Machines Corporation's (NYSE:IBM) Popularity With Investors Is Under Threat From Overpricing

Nov 29
International Business Machines Corporation's (NYSE:IBM) Popularity With Investors Is Under Threat From Overpricing

IBM Post-Earnings Summary: Liking 'IBM Light' - Buy IBM's Pullback, As Old Tech Finds A Bid

Nov 05

International Business Machines' (NYSE:IBM) Soft Earnings Are Actually Better Than They Appear

Oct 30
International Business Machines' (NYSE:IBM) Soft Earnings Are Actually Better Than They Appear

IBM Earnings Preview: Big Technical Breakout; Company Hasn't Repo'ed Any Stock Since March '19

Oct 21

IBM: Reasonable Price, But You Need To Manage Your Risk

Sep 30

IBM: The Return Of The King

Sep 17

An Intrinsic Calculation For International Business Machines Corporation (NYSE:IBM) Suggests It's 26% Undervalued

Sep 16
An Intrinsic Calculation For International Business Machines Corporation (NYSE:IBM) Suggests It's 26% Undervalued

IBM's Software And GenAI Investments Are Generating Strong Free Cash

Aug 26

International Business Machines Corporation's (NYSE:IBM) Business Is Yet to Catch Up With Its Share Price

Aug 19
International Business Machines Corporation's (NYSE:IBM) Business Is Yet to Catch Up With Its Share Price

International Business Machines Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Aug 01
International Business Machines Corporation Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

IBM Q2: Software Growth Potential Supports Buy Thesis

Jul 25

Does International Business Machines (NYSE:IBM) Have A Healthy Balance Sheet?

Jul 15
Does International Business Machines (NYSE:IBM) Have A Healthy Balance Sheet?

IBM: Quantum Computing, Growth And Dividends

Jul 06

IBM: 5 Reasons To Stay Bullish Into The Second Half Of 2024

Jun 30

Do International Business Machines' (NYSE:IBM) Earnings Warrant Your Attention?

Jun 04
Do International Business Machines' (NYSE:IBM) Earnings Warrant Your Attention?

IBM: Persistent Challenges

May 28

International Business Machines (NYSE:IBM) Has Announced That It Will Be Increasing Its Dividend To $1.67

May 07
International Business Machines (NYSE:IBM) Has Announced That It Will Be Increasing Its Dividend To $1.67

IBM: Big Blue Sees Crimson As It Blows Money On HashiCorp

Apr 26

Revenue & Expenses Breakdown

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

Earnings and Revenue History

NYSE:IBM Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Sep 2462,5806,37321,8047,260
30 Jun 2462,3658,40418,7997,069
31 Mar 2462,0698,15518,5816,916
31 Dec 2361,8607,51418,4826,775
30 Sep 2361,1717,09824,4936,631
30 Jun 2360,5262,17024,6516,557
31 Mar 2360,5852,05424,8896,543
31 Dec 2260,5301,78225,0906,567
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
30 Jun 1586,91314,91120,4745,272
31 Mar 1590,14715,63721,0545,333
31 Dec 1492,79315,75121,5495,437
30 Sep 1496,06616,45322,1315,569
30 Jun 1497,00717,13722,1165,571
31 Mar 1497,19616,37922,1835,501
31 Dec 1398,36816,88122,3955,743

Quality Earnings: IBM has a large one-off loss of $2.8B impacting its last 12 months of financial results to 30th September, 2024.

Growing Profit Margin: IBM's current net profit margins (10.2%) are lower than last year (11.6%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: IBM's earnings have declined by 3.2% per year over the past 5 years.

Accelerating Growth: IBM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: IBM had negative earnings growth (-10.2%) over the past year, making it difficult to compare to the IT industry average (-4%).

Return on Equity

High ROE: Whilst IBM's Return on Equity (25.98%) 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 Analysis2024/12/20 22:48
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 world class team 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 .

Analyst Sources

International Business Machines Corporation is covered by 73 analysts. 18 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
Josep BoriAtlantic Equities LLP
Ishan MajumdarBaptista Research