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International Business Machines IBM R&D

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Other financials

Income statement

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Revenue$15.9B+9.5%
Gross profit$8.9B+11.4%
Net income$1.2B+15.3%
EPS (diluted)$1.28+14.3%

Balance sheet

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Cash & equivalents$10.9B-2.7%
Total debt$77.4B+4.9%
Total equity$33.0B+22.7%
Total assets$156.23B+7.3%

Cash flow

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Operating cash flow$5.2B+18.3%
CapEx$232.0M-4.9%
Free cash flow$4.9B+19.7%

Valuation

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Market cap$242.74B-7.0%
Enterprise value$309.24B-4.5%
P/E22.6×-25.1×
P/S3.5×-0.6×

Profitability

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Gross margin58.4%+1.3pp
Net margin15.6%+6.9pp
FCF margin18.7%-1.3pp

Returns & leverage

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Return on equity35.9%+14.1pp
Debt / equity2.3×-0.4×
Current ratio0.8×-0.2×

Where this comes from

Reported directly by International Business Machines in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: International Business Machines’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is International Business Machines's R&D?
International Business Machines (IBM) reported R&D of $2.17B in Q1 2026.
How has International Business Machines's R&D changed year-over-year?
International Business Machines's R&D increased by 11.4% year-over-year, from $1.95B to $2.17B.
What is the long-term trend for International Business Machines's R&D?
Over 4 years (2021 to 2025), International Business Machines's R&D has grown at a 6.4% compound annual growth rate (CAGR), from $6.49B to $8.32B.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.