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International Business Machines IBM Ratios & Valuation

Income StatementBalance SheetCash FlowRatiosSegments
QuarterlyAnnualTTM
YoYQoQ
SimplifiedDetailed
Q1 '26Q4 '25Q3 '25Q2 '25Q1 '25
Profitability
Gross margin58.4%+1.3pp58.2%+1.5pp57.8%+1.3pp57.6%+1.5pp57%+1.4pp
Net margin15.6%+6.9pp15.7%+6.1pp12.1%+1.9pp9.1%-4.4pp8.7%-4.5pp
Returns
Return on equity35.9%+14.1pp35.3%+11.2pp30.2%+3.3pp22.6%-13.8pp21.8%-14.6pp
Return on invested capital13.2%+4.1pp14.5%+4.8pp13.7%+3.5pp9.8%-3.3pp9.2%-3.8pp
Efficiency
Asset turnover0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×0.4×0.0×
Liquidity
Current ratio0.8×-0.2×1×-0.1×0.9×-0.1×0.9×-0.2×1×-0.1×
Leverage
Debt-to-equity2.3×-0.4×2.2×-0.1×2.7×+0.1×2.8×+0.1×2.7×-0.2×
Net debt / EBITDA3.8×-1.3×3.4×-0.7×3.9×-0.1×5×+1.8×5.1×+1.5×
Per Share
Book value per share$34.63+21.8%$34.41+18.1%$29.41+11.1%$29.02+12.9%$28.43+14.1%
Valuation
Market capitalization$227.46B-1.3%$276.88B+36.2%$262.84B+29.2%$273.05B+72.1%$230.57B+31.6%
Price / earnings21.2×-21.0×26.1×-7.6×33.2×+1.4×46.8×+28.0×42.1×+20.7×
Price / sales3.3×-0.4×4.1×+0.9×4×+0.8×4.3×+1.7×3.7×+0.8×
Price / book6.9×-1.7×8.5×+1.0×9.4×+1.1×9.9×+3.3×8.6×+1.0×
EV / EBITDA16.7×-7.1×19.4×-1.4×20.1×0.0×26.2×+12.5×23.8×+8.4×
Dividend yield2.8%+0.1pp2.3%-0.8pp2.4%-0.6pp2.3%-1.6pp2.7%-0.8pp

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Questions, answered.

Where do International Business Machines's ratios come from?
Every ratio is computed from International Business Machines's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.