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International Business Machines IBM Infrastructure — Pre-tax income margin (as a percent)

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Other financials

Income statement

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Revenue$15.9B+9.5%
Gross profit$9.9B-0.7%
Net income$1.2B+15.3%
EPS (diluted)$2.27-1.7%

Balance sheet

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Cash & equivalents$10.9B-2.7%
Total debt$77.4B+4.9%
Total equity$33.0B+22.7%
Total assets$156.23B+7.3%

Cash flow

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Operating cash flow$2.6B+52.7%
CapEx-$975.0M-564%
Free cash flow$1.6B+8.8%

Valuation

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Market cap$222.27B-5.4%
Enterprise value$288.76B+0.3%

Profitability

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Gross margin58.4%+1.3pp
Net margin15.6%+6.9pp
FCF margin18.7%-1.3pp

Returns & leverage

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Return on equity35.9%+14.1pp
Debt / equity2.3×-0.4×
Current ratio0.8×-0.2×

Where this comes from

Reported directly by International Business Machines in its filing.

Tagged under the XBRL concept ibm:SegmentReportingInformationSegmentProfitMargin.

The source filing: International Business Machines’s 10-Q, filed April 23, 2026.

Filed
Apr 23, 2026, 6:22 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000051143-26-000038
($ in millions) / For the three months ended March 31, 2026:SoftwareConsultingInfrastructureFinancingTotal Segments
Segment profit$2,099$558$524$118$3,300
Revenue year-to-year change11.3%4.0%15.3%14.8%9.6%
Segment profit year-to-year change13.7%(0.1)%111.7%72.6%21.3%
Segment profit margin29.8%10.6%15.8%53.8%20.8%
For the three months ended March 31, 2025:
Revenue$6,336$5,068$2,886$191$14,480
Segment cost1,0423,6861,3631046,195
Other expenses and (income) (1)3,4478231,275195,564

Item 1. Consolidated Financial Statements (Unaudited)

FAQ

What is International Business Machines's infrastructure — pre-tax income margin (as a percent)?
International Business Machines (IBM) reported infrastructure — pre-tax income margin (as a percent) of 15.8% in Q1 2026.
How has International Business Machines's infrastructure — pre-tax income margin (as a percent) changed year-over-year?
International Business Machines's infrastructure — pre-tax income margin (as a percent) increased by 83.7% year-over-year, from 8.6% to 15.8%.
What does infrastructure — pre-tax income margin (as a percent) mean?
Calculated as pre-tax income divided by segment revenue, this metric indicates the percentage of revenue that the Infrastructure segment retains as profit before tax. It is a primary indicator of the segment's operational efficiency and pricing power.

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