IBM Financial Statements
Latest data: Dec 31, 2025
IBM (IBM) reported revenue of $67.54B in FY2025 with net income of $10.59B. Total assets stood at $151.88B and free cash flow was $11.58B.
IBM Income Statement
Hover the chart icon for year-over-year change.
| Item | Chart | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $62.75B | $67.54B | |
| Cost of Revenue | $27.20B | -$27.35B | |
| Gross Profit | $35.55B | $40.19B | |
| Operating Expenses | $25.48B | -$29.86B | |
| Operating Income | $10.07B | $10.33B | |
| Profit Before Tax | $5.80B | $10.33B | |
| Income Tax | -$218.00M | -$242.00M | |
| Net Income | $6.02B | $10.59B | |
| Diluted Shares | 937.20M | 948.70M | |
| Diluted EPS | $6.43 | $11.17 |
Values in millions (M) and billions (B). All amounts in USD ($).
Understanding the Income Statement
The income statement shows IBM's revenue and expenses over a period. Revenue (the top line) minus costs gives gross profit; after operating expenses, interest, and taxes, the remainder is net income (the bottom line). Diluted EPS divides net income by all shares that could exist if options and convertibles were exercised.
IBM Balance Sheet
Hover the chart icon for year-over-year change.
| Item | Chart | FY2024 | FY2025 |
|---|---|---|---|
| Total Current Assets | $34.48B | $35.86B | |
| Total Non-Current Assets | $102.69B | $116.02B | |
| Total Assets | $137.18B | $151.88B | |
| Total Current Liabilities | $33.14B | $38.66B | |
| Total Non-Current Liabilities | $76.64B | $80.48B | |
| Total Liabilities | $109.78B | $119.14B | |
| Total Equity | $27.31B | $32.65B | |
| Total Liabilities & Equity | $137.18B | $151.88B |
Values in millions (M) and billions (B). All amounts in USD ($).
Understanding the Balance Sheet
The balance sheet captures IBM's financial position at a point in time — what it owns (assets), what it owes (liabilities), and the residual value to shareholders (equity). Total assets always equals total liabilities plus equity.
IBM Cash Flow Statement
Hover the chart icon for year-over-year change.
| Item | Chart | FY2024 | FY2025 |
|---|---|---|---|
| Net Income | $6.02B | $10.57B | |
| Cash from Operations | $13.45B | $13.19B | |
| Capital Expenditure | -$1.69B | -$1.62B | |
| Cash from Investing | -$4.94B | -$10.30B | |
| Debt Repayment | -$880.00M | $2.87B | |
| Stock Buyback | $0.00 | $0.00 | |
| Dividend Paid | -$6.15B | -$6.26B | |
| Cash from Financing | -$7.08B | -$3.83B | |
| Free Cash Flow | $11.76B | $11.58B |
Values in millions (M) and billions (B). All amounts in USD ($).
Understanding Cash Flow
The cash flow statement tracks how IBM's cash moves through three activities: operations (day-to-day business), investing (acquisitions, equipment), and financing (debt, buybacks, dividends). Free cash flow — operating cash minus capital expenditure — shows what's available to return to shareholders.
Unlock Full Analysis
Get the complete 10-year financial history with interactive charts and growth analysis.
Related Stocks
Cisco (CSCO)
Communications Equipment
Free cash flow margin of 23.5% — strong cash generation.
Microsoft (MSFT)
Systems Software
Free cash flow margin of 25.4% — strong cash generation.
Oracle Corporation (ORCL)
Application Software
Net profit margin of 21.7% — highly profitable.
Salesforce (CRM)
Application Software
Net profit margin of 18.0% on $41.52B revenue.
Accenture (ACN)
It Consulting & Other Services
Net profit margin of 11.0% on $69.67B revenue.
EPAM Systems (EPAM)
It Consulting & Other Services