IBMNYSEComputer & office EquipmentFiscal year ends December 31

INTERNATIONAL BUSINESS MACHINES CORP

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026

$236.39+4.25 (+1.83%)

Close on Oct 19, 2026

Market cap: $225.34B
P/E (TTM): 21.0
Dividend yield: 2.84%

INTERNATIONAL BUSINESS MACHINES CORP cash flow statement

Annual Quarterly TTM

Millions of USD, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31	FY 2015 2015-12-31	FY 2014 2014-12-31	FY 2013 2013-12-31	FY 2012 2012-12-31	FY 2011 2011-12-31	FY 2010 2010-12-31	FY 2009 2009-12-31	FY 2008 2008-12-31	FY 2007 2007-12-31
Stock-Based Compensation	1,715	1,311	1,133	987	982	937	679	510	534	544	468	512	614	688	697	629	558	659	713
Deferred Income Taxes	-957	-2,330	-1,114	-2,726	-2,001	-3,203	-1,527	853	-931	-1,132	1,387	-237	-1,610	797	1,212	1,294	1,773	1,900	740
Change in Accounts Receivable	-4,278	-374	725	-539	1,372	5,297	502	1,006	1,297	712	812	1,270	-1,407	-2,230	-1,279	-489	2,131	274	-1,408
Change in Inventory	70	-166	390	71	138	-209	67	-127	18	-14	133	-39	-57	280	-163	92	263	-102	182
Change in Accounts Payable	624	-13	65	213	85	138	-503	126	47	197	81	-456	-529	-224	451	174	170	-860	-142
Operating Cash Flow	13,193	13,445	13,931	10,435	12,796	18,197	14,770	15,247	16,724	17,084	17,255	16,868	17,485	19,586	19,846	19,549	20,773	18,812	16,094
Capital Expenditures	-1,091	-1,048	-1,245	-1,346	-2,062	-2,618	-2,286	-3,395	-3,229	-3,567	-3,579	-3,740	-3,623	-4,082	-4,108	-4,185	-3,447	-4,171	-4,630
Acquisitions	-8,294	-3,289	-5,082	-2,348	-3,293	-336	-32,630	-139	-496	-5,696	-3,349	-656	-3,056	-3,722	-1,811	-5,922	-1,194	-6,313	-1,009
Sale of Property, Plant & Equipment	121	557	321	111	387	188	537	248	460	424	370	404	372	410	608	770	330	350	537
Divestitures	-1.00	698	-4.00	1,272	114	503	1,076	–	-205	-454	-401	2,357	297	599	14	55	400	71	310
Purchase of Investments	-10,095	-7,762	-11,143	-5,930	-3,561	-6,246	-3,693	-7,041	-4,949	-5,853	-3,073	-2,338	-4,608	-4,109	-1,594	-6,129	-5,604	-4,590	-24,117
Sale & Maturity of Investments	9,704	6,544	10,647	4,665	3,147	5,618	3,961	6,487	3,910	5,692	2,842	2,493	4,873	3,142	3,345	7,877	3,599	6,100	24,984
Investing Cash Flow	-10,302	-4,937	-7,070	-4,202	-5,975	-3,028	-26,936	-4,913	-7,081	-10,928	-8,159	-3,001	-7,326	-9,004	-4,396	-8,507	-6,729	-9,285	-4,675
Dividends Paid	-6,255	-6,147	-6,040	-5,948	-5,869	-5,797	-5,707	-5,666	-5,506	-5,256	-4,897	-4,265	-4,058	-3,773	-3,473	-3,177	-2,860	-2,585	-2,147
Share Repurchases	–	–	–	–	–	–	-1,361	-4,443	-4,340	-3,502	-4,609	-13,679	-13,859	-11,995	-15,046	-15,375	-7,429	-10,578	-18,828
Short-Term Debt Issued (Repaid), Net	–	–	–	–	–	–	–	–	–	–	101	-1,753	621	-441	1,321	817	-651	-6,025	1,674
Taxes Paid on Share-Based Awards	-1,018	-651	-402	-407	-319	-302	-272	-171	-193	-126	-248	–	–	–	–	–	–	–	–
Other Financing Activities	-139	-145	-239	-103	70	92	99	111	175	204	–	–	–	–	–	–	–	–	–
Financing Cash Flow	-3,829	-7,079	-1,769	-4,958	-13,354	-9,721	9,042	-10,469	-6,418	-5,917	-9,413	-15,452	-9,883	-11,976	-13,696	-12,429	-14,700	-11,834	-4,740
Foreign Exchange Rate Adjustments	418	-359	9.00	-244	-185	-87	-167	-495	937	-51	-473	-655	–	–	–	-135	98	58	294
Net Change in Cash	-520	1,071	5,101	1,032	-6,718	5,361	-3,290	-630	4,161	188	-790	-2,240	304	-1,511	–	-1,522	-558	-2,250	6,969
Free Cash Flow	12,102	12,397	12,686	9,089	10,734	15,579	12,484	11,852	13,495	13,517	13,676	13,128	13,862	15,504	15,738	15,364	17,326	14,641	11,464
Income Taxes Paid	1,948	1,723	1,564	1,865	2,103	2,253	2,091	1,745	1,597	1,078	2,657	5,748	4,024	3,169	4,168	3,238	1,567	2,111	2,608
Interest Paid	2,042	1,978	1,668	1,401	1,512	1,830	1,685	1,423	1,208	1,158	995	1,061	982	1,009	956	951	1,240	1,460	1,485

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Jun 30, 2026

Profitability, TTM

Gross margin: 58.1%
Operating margin: –
Net margin: 15.5%
Return on equity, FY2025: 35.3%

Financial strength

Current ratio: 0.79
Debt to equity: 1.97
Debt to assets: 44.5%
Cash to current liabilities: 20.0%

Valuation

P/E ratio: 21.0
Price to sales: 3.26
Price to book: 6.54
Dividend yield: 2.84%