International Business Machines Corp (IBM) stock
IBMNYSEComputer & office EquipmentFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 22, 2026Score 17/305% below fair value
$244.67−3.55 (-1.43%)
Close on Nov 12, 2026Market cap $231.24BP/E 20.9Yield 2.74%
International Business Machines gross margin
Gross margin is gross profit as a percentage of revenue.
International Business Machines's gross margin for the twelve months ending Sep 30, 2026 was 58.0%. For fiscal 2025 it was 58.2%, against 56.7% the year before. The highest annual figure on record is 58.2% in fiscal 2025.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 58.2% | +1.5 |
| FY2024 | Dec 31, 2024 | 56.7% | +1.2 |
| FY2023 | Dec 31, 2023 | 55.4% | +1.4 |
| FY2022 | Dec 31, 2022 | 54.0% | −0.9 |
| FY2021 | Dec 31, 2021 | 54.9% | −1.0 |
| FY2020 | Dec 31, 2020 | 55.9% | +1.3 |
| FY2019 | Dec 31, 2019 | 54.6% | +8.2 |
| FY2018 | Dec 31, 2018 | 46.4% | −0.3 |
| FY2017 | Dec 31, 2017 | 46.7% | −1.5 |
| FY2016 | Dec 31, 2016 | 48.2% | −1.6 |
| FY2015 | Dec 31, 2015 | 49.8% | −0.2 |
| FY2014 | Dec 31, 2014 | 50.0% | +0.5 |
| FY2013 | Dec 31, 2013 | 49.5% | +0.5 |
| FY2012 | Dec 31, 2012 | 49.0% | +2.1 |
| FY2011 | Dec 31, 2011 | 46.9% | +0.8 |
| FY2010 | Dec 31, 2010 | 46.1% | +0.3 |
| FY2009 | Dec 31, 2009 | 45.7% | +1.7 |
| FY2008 | Dec 31, 2008 | 44.1% | +1.8 |
| FY2007 | Dec 31, 2007 | 42.2% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | 56.8% | −0.5 |
| Q2 FY2026 | Jun 30, 2026 | 57.7% | −1.0 |
| Q1 FY2026 | Mar 31, 2026 | 56.2% | +1.0 |
| Q4 FY2025 | Dec 31, 2025 | 60.6% | +1.1 |
| Q3 FY2025 | Sep 30, 2025 | 57.3% | +1.1 |
| Q2 FY2025 | Jun 30, 2025 | 58.8% | +2.0 |
| Q1 FY2025 | Mar 31, 2025 | 55.2% | +1.7 |
| Q4 FY2024 | Dec 31, 2024 | 59.5% | +0.4 |
| Q3 FY2024 | Sep 30, 2024 | 56.3% | +1.9 |
| Q2 FY2024 | Jun 30, 2024 | 56.8% | +1.8 |
| Q1 FY2024 | Mar 31, 2024 | 53.5% | +0.8 |
| Q4 FY2023 | Dec 31, 2023 | 59.1% | +1.4 |
| Q3 FY2023 | Sep 30, 2023 | 54.4% | +1.7 |
| Q2 FY2023 | Jun 30, 2023 | 54.9% | +1.6 |
| Q1 FY2023 | Mar 31, 2023 | 52.7% | +1.0 |
| Q4 FY2022 | Dec 31, 2022 | 57.7% | +0.8 |
| Q3 FY2022 | Sep 30, 2022 | 52.7% | −1.0 |
| Q2 FY2022 | Jun 30, 2022 | 53.4% | −1.9 |
| Q1 FY2022 | Mar 31, 2022 | 51.7% | −1.6 |
| Q4 FY2021 | Dec 31, 2021 | 56.9% | −244.9 |
| Q3 FY2021 | Sep 30, 2021 | 53.6% | +5.6 |
| Q2 FY2021 | Jun 30, 2021 | 55.2% | +7.2 |
| Q1 FY2021 | Mar 31, 2021 | 53.3% | +8.2 |
| Q4 FY2020 | Dec 31, 2020 | 301.8% | +39.7 |
| Q3 FY2020 | Sep 30, 2020 | 48.0% | +1.8 |
| Q2 FY2020 | Jun 30, 2020 | 48.0% | +1.0 |
| Q1 FY2020 | Mar 31, 2020 | 45.1% | +0.8 |
| Q4 FY2019 | Dec 31, 2019 | 262.2% | +213.0 |
| Q3 FY2019 | Sep 30, 2019 | 46.2% | −0.7 |
| Q2 FY2019 | Jun 30, 2019 | 47.0% | +1.0 |
| Q1 FY2019 | Mar 31, 2019 | 44.2% | +1.0 |
| Q4 FY2018 | Dec 31, 2018 | 49.1% | +0.1 |
| Q3 FY2018 | Sep 30, 2018 | 46.9% | +0.0 |
| Q2 FY2018 | Jun 30, 2018 | 46.0% | −0.5 |
| Q1 FY2018 | Mar 31, 2018 | 43.2% | −0.5 |
| Q4 FY2017 | Dec 31, 2017 | 49.0% | −2.0 |
| Q3 FY2017 | Sep 30, 2017 | 46.9% | – |
| Q2 FY2017 | Jun 30, 2017 | 46.5% | – |
| Q1 FY2017 | Mar 31, 2017 | 43.8% | – |
| Q4 FY2016 | Dec 31, 2016 | 51.1% | – |
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