International Business Machines IBM Ratios & Valuation
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Profitability | |||||
| Gross margin | 230.6%+5.7pp | 224.9%+5.6pp | 219.4%+3.1pp | 216.3%-25.0pp | |
| Net margin | 45.6%-0.9pp | 46.5%+16.7pp | 29.8%+6.2pp | 23.6%-19.5pp | |
| Returns | |||||
| Return on equity | 110%-14.0pp | 124%+39.5pp | 84.6%+16.2pp | 68.3%-33.8pp | |
| Return on invested capital | 47.2%+1.3pp | 45.9%+12.2pp | 33.8%+9.3pp | 24.5%— | |
| Efficiency | |||||
| Asset turnover | 1.8×0.0× | 1.9×0.0× | 1.9×+0.1× | 1.8×+0.4× | |
| Liquidity | |||||
| Current ratio | 3.8×-0.6× | 4.4×+0.3× | 4.1×+0.4× | 3.7×+0.2× | |
| Leverage | |||||
| Debt-to-equity | 10.4×-0.1× | 10.5×-1.1× | 11.7×+0.5× | 11.2×0.0× | |
| Net debt / EBITDA | 17.4×+2.4× | 15×-7.2× | 22.2×+1.0× | 21.2×— | |
| Per Share | |||||
| Book value per share | $121.27+14.1% | $106.24+9.4% | $97.11+9.7% | $88.52-5.2% | |
| Valuation | |||||
| Market capitalization | $1.04T+40.9% | $740.5B+42.8% | $518.72B+8.4% | $478.61B-0.1% | |
| Price / earnings | 148.3×+42.5× | 105.8×-57.9× | 163.7×-43.0× | 206.7×+116× | |
| Price / sales | 16.1×+4.2× | 11.9×+3.4× | 8.5×+0.5× | 8×-1.8× | |
| Price / book | 36.4×+6.5× | 29.9×+6.7× | 23.2×-0.6× | 23.8×+1.1× | |
| EV / EBITDA | 89.5×+19.4× | 70×-3.1× | 73.1×-0.6× | 73.7×— | |
| Dividend yield | 9.6%-3.8pp | 13.3%-5.3pp | 18.7%-1.2pp | 19.9%+0.3pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →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.
