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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%+0.2pp58.2%+0.4pp57.8%+0.2pp57.6%+0.5pp57%+0.4pp
Net margin15.6%-0.1pp15.7%+3.6pp12.1%+3.0pp9.1%+0.4pp8.7%-0.9pp
EBITDA margin25.6%0.0pp25.6%+0.8pp24.8%+4.6pp20.1%+0.5pp19.6%+0.2pp
Free cash flow margin18.7%+0.8pp17.9%-1.1pp19.1%0.0pp19.1%-0.9pp20%+0.3pp
Returns
Return on equity35.9%+0.6pp35.3%+5.1pp30.2%+7.6pp22.6%+0.8pp21.8%-2.3pp
Return on assets7.1%-0.2pp7.3%+1.7pp5.6%+1.5pp4.1%+0.3pp3.9%-0.6pp
Return on invested capital13.2%-1.3pp14.5%+0.8pp13.7%+3.9pp9.8%+0.6pp9.2%-0.6pp
Efficiency
Asset turnover0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×0.4×0.0×
Inventory turnover19.7×-2.8×22.5×+2.5×20×-1.9×21.9×+1.4×20.4×-1.8×
Liquidity
Current ratio0.8×-0.2×1×0.0×0.9×0.0×0.9×-0.1×1×0.0×
Quick ratio0.8×-0.2×0.9×0.0×0.9×0.0×0.9×-0.1×1×0.0×
Cash ratio0.3×-0.1×0.4×0.0×0.3×0.0×0.3×0.0×0.3×-0.1×
Leverage
Debt-to-equity2.3×+0.1×2.2×-0.5×2.7×-0.1×2.8×0.0×2.7×+0.4×
Debt-to-assets0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×
Net debt / EBITDA3.8×+0.4×3.4×-0.5×3.9×-1.1×5×-0.1×5.1×+0.9×
Interest coverage6.4×+0.1×6.3×+0.3×6×+1.6×4.4×+0.1×4.4×0.0×
Per Share
Book value per share$34.63+0.6%$34.41+17.0%$29.41+1.3%$29.02+2.1%$28.43-2.4%
Valuation
Market capitalization$227.46B-17.8%$276.88B+5.3%$262.84B-3.7%$273.05B+18.4%$230.57B+13.4%
Enterprise value$293.95B-12.4%$335.42B+3.0%$325.75B-3.5%$337.69B+15.2%$293.16B+15.6%
Price / earnings21.2×-5.0×26.1×-7.1×33.2×-13.6×46.8×+4.7×42.1×+8.4×
Price / sales3.3×-0.8×4.1×+0.1×4×-0.2×4.3×+0.6×3.7×+0.4×
Price / book6.9×-1.6×8.5×-0.9×9.4×-0.5×9.9×+1.3×8.6×+1.1×
EV / EBITDA16.7×-2.7×19.4×-0.7×20.1×-6.1×26.2×+2.4×23.8×+3.0×
EV / sales4.3×-0.7×5×0.0×5×-0.3×5.3×+0.6×4.7×+0.6×
Free cash flow yield5.7%+1.3pp4.4%-0.4pp4.7%+0.3pp4.5%-1.0pp5.5%-0.6pp
Earnings yield4.7%+0.9pp3.8%+0.8pp3%+0.9pp2.1%-0.2pp2.4%-0.6pp
Dividend yield2.8%+0.5pp2.3%-0.1pp2.4%+0.1pp2.3%-0.4pp2.7%-0.3pp
PEG ratio0.2×-0.1×0.3×-1.1×1.4×—————

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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.