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%+5.6pp	230.6%+5.7pp	229.1%+5.4pp	227.8%+5.6pp	226.3%+5.6pp
Net margin	52.5%+10.4pp	45.6%-0.9pp	39.5%-9.5pp	37.6%-12.5pp	42%+2.1pp
Returns
Return on equity	124.1%+14.7pp	110%-14.0pp	98.8%-34.8pp	95.6%-43.2pp	109.4%-2.6pp
Return on invested capital	51.3%+9.1pp	47.2%+1.3pp	42.4%-5.7pp	38.9%-12.3pp	42.2%-0.4pp
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×-0.6×	3.8×-0.6×	3.9×-0.4×	4×-0.1×	4.2×+0.2×
Leverage
Debt-to-equity	10×-0.3×	10.4×-0.1×	10.6×-0.6×	10.5×-0.9×	10.4×-1.4×
Net debt / EBITDA	16.1×-0.4×	17.4×+2.4×	18.1×+3.6×	18.2×+3.6×	16.4×-2.4×
Per Share
Book value per share	$127.47+16.1%	$121.27+14.1%	$116.00+14.2%	$113.06+13.0%	$109.76+11.4%
Valuation
Market capitalization	$1.04T+30.7%	$1.04T+40.9%	$969.72B+41.2%	$910.34B+48.9%	$795.93B+38.4%
Price / earnings	127.3×+0.8×	148.3×+42.5×	155.9×+64.0×	154.5×+75.8×	126.5×+6.3×
Price / sales	15.7×+3.0×	16.1×+4.2×	15.2×+4.2×	14.4×+4.5×	12.7×+3.4×
Price / book	34.7×+3.8×	36.4×+6.5×	35.4×+6.3×	34.3×+7.9×	30.9×+5.7×
EV / EBITDA	82.4×+4.0×	89.5×+19.4×	90.9×+27.8×	90.9×+34.7×	78.4×+12.7×
Dividend yield	9.7%-2.9pp	9.6%-3.8pp	10.3%-4.0pp	11%-5.1pp	12.5%-4.6pp

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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.