Financials in USD. Standardized financial statements.
A compact view of how International Business Machines Corporation turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $67.53B | $62.75B | $61.86B | $60.53B | $57.35B | $55.18B | $57.71B | $79.59B | $79.14B | $79.92B |
| Revenue Growth? | +7.6% | +1.4% | +2.2% | +5.5% | +3.9% | -4.4% | -27.5% | +0.6% | -1.0% | 0.0% |
| Cost of Revenue? | $27.35B | $27.20B | $27.56B | $27.84B | $25.86B | $24.31B | $26.18B | $42.66B | $42.20B | $41.40B |
| Gross Profit? | $40.19B | $35.55B | $34.30B | $32.69B | $31.49B | $30.86B | $31.53B | $36.94B | $36.94B | $38.52B |
| Gross Margin? | +59.5% | +56.7% | +55.4% | +54.0% | +54.9% | +55.9% | +54.6% | +46.4% | +46.7% | +48.2% |
| Operating Expenses? | $29.86B | $25.48B | $24.48B | $24.51B | $24.62B | $26.20B | $24.00B | $23.72B | $23.80B | $24.88B |
| Operating Income? | $10.32B | $10.07B | $9.82B | $8.17B | $6.87B | $4.66B | $7.54B | $13.22B | $13.14B | $14.68B |
| EBITDA? | $17.28B | $12.18B | $14.69B | $7.17B | $12.41B | $10.55B | $14.61B | $16.55B | $16.56B | $17.34B |
| Income Before Tax | $10.33B | $5.80B | $8.69B | $1.16B | $4.84B | $2.57B | $7.21B | $11.34B | $11.40B | $12.33B |
| Income Tax Expense | -$242.00M | -$218.00M | $1.18B | -$626.00M | $124.00M | -$1.36B | $60.00M | $2.62B | $5.64B | $449.00M |
| Net Income? | $10.59B | $6.02B | $7.50B | $1.64B | $5.74B | $5.59B | $9.43B | $8.73B | $5.75B | $11.87B |
| EPS? | $11.36 | $6.53 | $8.23 | $1.82 | $6.41 | $6.28 | $10.63 | $9.57 | $6.17 | $12.43 |
| Diluted EPS? | $11.17 | $6.43 | $8.14 | $1.80 | $6.35 | $6.23 | $10.56 | $9.53 | $6.14 | $12.38 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality