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.

	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25	TTM Q1 '25
Profitability
Gross margin	231.9%+1.3pp	230.6%+1.5pp	229.1%+1.3pp	227.8%+1.5pp	226.3%+1.4pp
Net margin	52.5%+6.9pp	45.6%+6.1pp	39.5%+1.9pp	37.6%-4.4pp	42%-4.5pp
Returns
Return on equity	124.1%+14.1pp	110%+11.2pp	98.8%+3.3pp	95.6%-13.8pp	109.4%-14.6pp
Return on invested capital	51.3%+4.1pp	47.2%+4.8pp	42.4%+3.5pp	38.9%-3.3pp	42.2%-3.8pp
Efficiency
Asset turnover	1.8×0.0×	1.8×0.0×	1.8×0.0×	1.8×0.0×	1.8×0.0×
Liquidity
Current ratio	3.6×-0.2×	3.8×-0.1×	3.9×-0.1×	4×-0.2×	4.2×-0.1×
Leverage
Debt-to-equity	10×-0.4×	10.4×-0.1×	10.6×+0.1×	10.5×+0.1×	10.4×-0.2×
Net debt / EBITDA	16.1×-1.3×	17.4×-0.7×	18.1×-0.1×	18.2×+1.8×	16.4×+1.5×
Per Share
Book value per share	$127.47+5.1%	$121.27+4.5%	$116.00+2.6%	$113.06+3.0%	$109.76+3.3%
Valuation
Market capitalization	$1.04T-0.3%	$1.04T+7.6%	$969.72B+6.5%	$910.34B+14.4%	$795.93B+7.5%
Price / earnings	127.3×-21.0×	148.3×-7.6×	155.9×+1.4×	154.5×+28.0×	126.5×+20.7×
Price / sales	15.7×-0.4×	16.1×+0.9×	15.2×+0.8×	14.4×+1.7×	12.7×+0.8×
Price / book	34.7×-1.7×	36.4×+1.0×	35.4×+1.1×	34.3×+3.3×	30.9×+1.0×
EV / EBITDA	82.4×-7.1×	89.5×-1.4×	90.9×0.0×	90.9×+12.5×	78.4×+8.4×
Dividend yield	9.7%+0.1pp	9.6%-0.8pp	10.3%-0.6pp	11%-1.6pp	12.5%-0.8pp

Chart any of these lines over time, or line them up against competitors.

Compare these in charts →

Ask your AI about International Business Machines.

Connect your AI assistant and get a quick read on the numbers, right in your chat.

Connect your AI

Claude

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.