INTERNATIONAL BUSINESS MACHINES CORP

10-K & 10-Q Filings

International Business Machines Corporation (IBM) is a globally integrated enterprise that was incorporated in New York in 1911. The company has a strong focus on business insight and technological innovation, and its operations have been international since its early days. IBM's strategy is to help clients leverage the power of hybrid cloud and artificial intelligence (AI) to realize their digital and AI transformations. The company's business segments include Software, Consulting, Infrastructure, and Financing. IBM has a strong brand and reputation, and its competitors include companies such as Alphabet (Google), Amazon, Microsoft, Oracle, and SAP, among others. The company's website is ibm.com, and its ticker symbol is IBM. IBM's 2023 Annual Report to Stockholders and other relevant information can be found on the SEC's website.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$106916.00
104507.00
99751.00
92793.00
81741.00
79919.00
79139.00
79591.00
77147.00
73620.00
57350.00
60530.00
61860.00
14252.00
14462.00
-4.46%1.47%Cost of Revenue (-)
$56778.00
54209.00
51246.00
46386.00
41057.00
41625.00
42913.00
42655.00
40659.00
38046.00
25865.00
27842.00
27560.00
6743.00
6719.00
-5.85%-0.36%Gross Profit (+)
$50138.00
50298.00
48505.00
46407.00
40684.00
38294.00
36227.00
36936.00
36488.00
35575.00
31486.00
32687.00
34300.00
7509.00
7742.00
-3.11%3.10%Selling, General & Administrative (-)
$23594.00
23553.00
23502.00
23180.00
20430.00
21069.00
20107.00
19366.00
20604.00
23082.00
18745.00
18609.00
19003.00
4853.00
4974.00
-1.79%2.49%Research & Development (-)
$6258.00
6302.00
6226.00
5437.00
5247.00
5751.00
5787.00
5379.00
5989.00
6333.00
6488.00
6567.00
6775.00
1655.00
1796.00
0.66%8.52%Operating Expenses (-)
$29852.00
29855.00
29728.00
28617.00
25677.00
26820.00
25894.00
24745.00
26593.00
29415.00
25233.00
25176.00
25778.00
6508.00
6770.00
-1.22%4.03%Costs & Expenses (Total) (-)
$86630.00
84064.00
80974.00
75003.00
66734.00
68444.00
34447.00
67400.00
67252.00
67461.00
51098.00
53018.00
53338.00
13251.00
6719.00
-3.96%-49.29%Operating Income/Loss (+)
$20286.00
20443.00
18777.00
17790.00
15007.00
11475.00
12015.00
12191.00
9895.00
6159.00
6252.00
7512.00
8522.00
1001.00
1506.00
-6.97%50.45%Interest Expense (-)
$411.00
459.00
402.00
484.00
468.00
630.00
615.00
723.00
1344.00
1288.00
1155.00
1216.00
1607.00
367.00
432.00
12.03%17.71%Earnings before Tax (+)
$21003.00
21902.00
19524.00
19986.00
15945.00
12330.00
11400.00
11342.00
10166.00
4637.00
4837.00
1156.00
8690.00
1058.00
1074.00
-7.09%1.51%Tax Expense (-)
$5148.00
5298.00
3041.00
4234.00
2581.00
449.00
5642.00
2619.00
731.00
-864.00
124.00
-626.00
1176.00
124.00
-502.00
-11.58%-504.84%Income/Loss (Continuing Operations) (+)
$15855.00
16604.00
16483.00
15751.00
13364.00
11881.00
5758.00
8723.00
9435.00
5501.00
4712.00
1783.00
7514.00
934.00
1575.00
-6.03%68.63%Income/Loss (Discontinued Operations) (+)
$
-3729.00
-174.00
-9.00
-5.00
5.00
-4.00
89.00
1030.00
-143.00
-12.00
-7.00
30.00
528.57%Profit/Loss (+)
$15855.00
16604.00
16483.00
12022.00
13190.00
11872.00
Net Income/Loss (+)
$15855.00
16604.00
16483.00
12022.00
13190.00
11872.00
5753.00
8728.00
9431.00
5590.00
5743.00
1639.00
7502.00
927.00
1605.00
-6.05%73.14%Net Income/Loss (Common) (+)
$15855.00
16604.00
16483.00
12022.00
13190.00
11872.00
5753.00
8728.00
9431.00
5590.00
5743.00
1639.00
7502.00
927.00
1605.00
-6.05%73.14%EPS (Basic)
$13.25
14.53
15.06
11.97
13.48
12.43
6.17
9.57
10.63
6.28
6.41
1.82
8.23
1.02
1.75
-3.89%71.57%EPS (Diluted)
$13.06
14.37
14.94
11.90
13.42
12.38
6.14
9.52
10.56
6.23
6.35
1.80
8.14
1.01
1.72
-3.86%70.30%Weighted Avg Shares (Basic)
1196.95
1142.51
1094.49
1004.27
978.74
955.42
932.83
912.05
887.24
890.35
895.99
902.66
911.21
907.53
917.20
-2.25%1.07%Weighted Avg Shares (Diluted)
1213.77
1155.45
1103.04
1010.00
982.70
958.71
937.39
916.32
892.81
896.56
904.64
912.27
922.07
917.85
933.43
-2.26%1.70%Cash
$11922.00
10412.00
10716.00
8476.00
7686.00
7826.00
11972.00
11604.00
8313.00
13675.00
6957.00
7989.00
13089.00
9535.00
14765.00
0.78%54.85%Short-term Investments
$
717.00
350.00
508.00
701.00
608.00
618.00
696.00
600.00
600.00
852.00
373.00
8057.00
4512.00
-44.00%Receivables
$28080.00
28705.00
30252.00
28925.00
27353.00
28188.00
30649.00
29820.00
22062.00
18024.00
13975.00
13392.00
13316.00
11814.00
6041.00
-6.03%-48.87%Inventory
$2595.00
2287.00
2310.00
2103.00
1551.00
1553.00
1583.00
1682.00
1619.00
1839.00
1649.00
1552.00
1161.00
1603.00
1212.00
-6.48%-24.39%Prepaid Expenses (Current)
$5249.00
4024.00
4488.00
4967.00
4205.00
4564.00
3942.00
2378.00
2101.00
2206.00
3466.00
2611.00
2639.00
2501.00
2804.00
-5.57%12.12%Other Assets (Current)
$3082.00
3288.00
3235.00
4950.00
1201.00
1057.00
981.00
3043.00
3629.00
2821.00
2892.00
2723.00
2330.00
2472.00
7328.00
-2.30%196.44%Assets (Current)
$50928.00
49433.00
51350.00
49422.00
42504.00
43888.00
49735.00
49146.00
38420.00
39165.00
29539.00
29118.00
32908.00
35982.00
36663.00
-3.57%1.89%Securities & Long-term Investments
$
4585.00
4919.00
2386.00
2074.00
2282.00
1823.00
1617.00
1626.00
1607.00
1678.00
4.42%Property, Plant & Equipment (Net)
$13883.00
13996.00
13821.00
10771.00
10727.00
10830.00
11116.00
10792.00
10010.00
10040.00
5694.00
5334.00
5501.00
5344.00
5594.00
-7.42%4.68%Accumulated Depreciation
$26241.00
26505.00
26654.00
28263.00
18615.00
19303.00
21215.00
21668.00
22018.00
23136.00
14390.00
13361.00
13417.00
Goodwill & Intangibles
$29605.00
33034.00
35055.00
33660.00
35508.00
40887.00
40530.00
39352.00
73457.00
73413.00
68154.00
67133.00
71214.00
67098.00
70284.00
7.59%4.75%Other Assets
$22017.00
22751.00
25996.00
23680.00
3141.00
17279.00
9550.00
38.00
6209.00
7936.00
12402.00
10681.00
23990.00
10189.00
22951.00
0.72%125.25%Assets (Non-current)
$65505.00
69781.00
74872.00
68111.00
67991.00
73581.00
75620.00
74236.00
113768.00
116807.00
102463.00
98126.00
102331.00
97655.00
100507.00
3.79%2.92%Assets (Total)
$116433.00
119213.00
126223.00
117532.00
110495.00
117470.00
125356.00
123382.00
152186.00
155971.00
132001.00
127243.00
135241.00
133637.00
137169.00
1.26%2.64%Accounts Payable
$11830.00
12900.00
12094.00
11948.00
8875.00
13021.00
14314.00
12914.00
11141.00
11649.00
9448.00
9728.00
9903.00
8150.00
8488.00
-1.47%4.15%Debt (Current)
$8463.00
9181.00
6862.00
5731.00
6461.00
7513.00
6987.00
10207.00
10177.00
7183.00
6787.00
4760.00
6426.00
4887.00
5471.00
-2.27%11.95%Other Liabilities (Current)
$21831.00
21544.00
21198.00
21921.00
18934.00
15740.00
16062.00
15106.00
16383.00
21037.00
17384.00
17017.00
17792.00
17955.00
18440.00
-1.69%2.70%Liabilities (Current)
$42123.00
43625.00
40154.00
39600.00
34269.00
36275.00
37363.00
38227.00
37701.00
39869.00
33619.00
31505.00
34122.00
30993.00
32397.00
-1.74%4.53%Debt (Non-current)
$22857.00
24088.00
32856.00
35073.00
33428.00
34655.00
39837.00
35605.00
57981.00
54355.00
44917.00
46189.00
50121.00
53826.00
54033.00
6.76%0.38%Other Liabilities
$31217.00
32516.00
30284.00
30844.00
28374.00
28147.00
30431.00
32621.00
35519.00
41020.00
34470.00
27528.00
28384.00
27145.00
27406.00
-0.79%0.96%Liabilities (Non-current)
$54074.00
56604.00
63140.00
65917.00
61802.00
62802.00
70268.00
68226.00
93500.00
95375.00
79387.00
73717.00
78505.00
80971.00
81439.00
3.16%0.58%Liabilities (Total)
$96197.00
100229.00
103294.00
105518.00
96071.00
99078.00
107631.00
106452.00
131202.00
135244.00
113005.00
105222.00
112628.00
111964.00
113836.00
1.32%1.67%Treasury Stock
$110963.00
123131.00
137242.00
150715.00
155518.00
159050.00
163507.00
168071.00
169413.00
169339.00
169392.00
169484.00
169624.00
169544.00
169759.00
3.60%0.13%Retained Earnings
$104857.00
117641.00
130042.00
137793.00
146124.00
152759.00
153126.00
159206.00
162954.00
162717.00
154209.00
149825.00
151276.00
149253.00
151362.00
3.10%1.41%AOCI
$-21885.00
-25759.00
-21602.00
-27875.00
-29607.00
-29398.00
-26592.00
-29490.00
-28597.00
-29337.00
-23234.00
-16740.00
-18761.00
-16780.00
-18488.00
-10.18%Shareholder's Equity
$20236.00
18984.00
22929.00
12014.00
14424.00
18392.00
17725.00
16929.00
20985.00
20727.00
18996.00
22021.00
22613.00
21672.00
23333.00
0.93%7.66%Liabilities & Equity
$116433.00
119213.00
126223.00
117532.00
110495.00
117470.00
125356.00
123382.00
152186.00
155971.00
132001.00
127243.00
135241.00
133637.00
137169.00
1.26%2.64%Net Income/Loss
$15855.00
16604.00
16483.00
12022.00
13190.00
11872.00
5753.00
8728.00
9431.00
5590.00
5743.00
1639.00
7502.00
927.00
1605.00
-6.05%73.14%Depreciation & Amortization
$4815.00
4676.00
4678.00
4492.00
3855.00
4381.00
4541.00
4480.00
6059.00
6695.00
6417.00
2407.00
4396.00
1074.00
1131.00
-0.76%5.31%Increase/Decrease in Working Capital
$1019.00
1441.00
2446.00
1766.00
2444.00
-1231.00
-6813.00
-554.00
-1225.00
-8249.00
-1962.00
39.00
-2184.00
-1559.00
-1365.00
12.44%Share-based Compensation
$697.00
688.00
614.00
512.00
468.00
544.00
534.00
510.00
679.00
937.00
982.00
987.00
1133.00
268.00
320.00
4.13%19.40%Adjustments to Reconcile Net Income
$3991.00
2982.00
1000.00
4847.00
3818.00
5086.00
10971.00
6520.00
5340.00
12608.00
7053.00
8796.00
6429.00
2846.00
2563.00
4.05%-9.94%Net Cash (Operating)
$19846.00
19586.00
17485.00
16868.00
17008.00
16958.00
16724.00
15247.00
14770.00
18197.00
12796.00
10435.00
13931.00
3774.00
4168.00
-2.91%10.44%Capital Expenditure
$5856.00
7430.00
6527.00
2078.00
3579.00
9276.00
3470.00
3286.00
33303.00
2263.00
4854.00
2311.00
6010.00
311.00
-394.00
0.22%-226.69%Net Cash (Investing)
$-4396.00
-9004.00
-7326.00
-3001.00
-8159.00
-10976.00
-7096.00
-4913.00
-26936.00
-3028.00
-5975.00
-4202.00
-7070.00
-7960.00
-4210.00
47.11%Increase/Decrease in Debt
$2370.00
2252.00
6961.00
1783.00
19.00
2763.00
3447.00
-301.00
16284.00
-3714.00
-8115.00
1221.00
4497.00
7304.00
3381.00
5.48%-53.71%Increase/Decrease in Equity
$-12593.00
-10455.00
-12785.00
-12970.00
-4287.00
-3298.00
-4165.00
-4443.00
-1361.00
Interest Expenses
$956.00
1009.00
982.00
1061.00
995.00
1158.00
1208.00
1423.00
1685.00
1830.00
1512.00
1401.00
1668.00
4.75%Dividends Paid
$-3473.00
-3773.00
4058.00
4265.00
4897.00
5256.00
5506.00
5666.00
5707.00
5797.00
5869.00
5948.00
6040.00
1497.00
1522.00
1.67%Net Cash (Financing)
$-13696.00
-11976.00
-9883.00
-15452.00
-9166.00
-5791.00
-6418.00
-10469.00
9042.00
-9721.00
-13354.00
-4958.00
-1769.00
5708.00
1877.00
-67.12%Cash Taxes Paid
$4168.00
3169.00
4024.00
5748.00
2657.00
1078.00
1597.00
1745.00
2091.00
2253.00
2103.00
1865.00
1564.00
-7.84%Effect of Exchange Rate
$-493.00
-116.00
28.00
-655.00
-473.00
-51.00
937.00
-495.00
-167.00
-87.00
-185.00
-244.00
9.00
24.00
-159.00
-762.50%Increase/Decrease in Cash
$1262.00
-1511.00
304.00
-2240.00
-790.00
140.00
4146.00
-630.00
-3290.00
5361.00
-6718.00
1032.00
5101.00
1547.00
1676.00
12.34%8.34%Cash (Beginning)
$10661.00
11922.00
10412.00
10716.00
8476.00
7686.00
7826.00
12234.00
11604.00
8314.00
13675.00
6957.00
7988.00
7988.00
13089.00
-2.38%63.86%Cash (Ending)
$11922.00
10412.00
10716.00
8476.00
7686.00
7826.00
11972.00
11604.00
8314.00
13675.00
6957.00
7988.00
13089.00
9535.00
14765.00
0.78%54.85%NOPAT
$16260.29
17485.10
14906.96
12673.57
12506.30
10471.75
10331.85
10315.38
7859.74
7306.59
8970.20
11579.92
6988.24
883.68
2209.92
-6.80%150.08%Gross Margin %
46.89%
48.13%
48.63%
50.01%
49.77%
47.92%
45.78%
46.41%
47.30%
48.32%
54.90%
54.00%
55.45%
52.69%
53.53%
Operating Margin %
18.97%
19.56%
18.82%
19.17%
18.36%
14.36%
15.18%
15.32%
12.83%
8.37%
10.90%
12.41%
13.78%
7.02%
10.41%
NOPAT Margin %
15.21%
16.73%
14.94%
13.66%
15.30%
13.10%
13.06%
12.96%
10.19%
9.92%
15.64%
19.13%
11.30%
6.20%
15.28%
Net Margin %
14.83%
15.89%
16.52%
12.96%
16.14%
14.86%
7.27%
10.97%
12.22%
7.59%
10.01%
2.71%
12.13%
6.50%
11.10%
Tax Rate %
19.84%
14.47%
20.61%
28.76%
16.66%
8.74%
14.01%
15.39%
20.57%
-18.63%
-43.48%
-54.15%
18.00%
11.72%
-46.74%
ROA
13.97%
14.67%
11.81%
10.78%
11.32%
8.91%
8.24%
8.36%
5.16%
4.68%
6.80%
9.10%
5.17%
0.66%
1.61%
ROE
80.35%
92.10%
65.01%
105.49%
86.70%
56.94%
58.29%
60.93%
37.45%
35.25%
47.22%
52.59%
30.90%
4.08%
9.47%
ROIC
24.14%
25.42%
20.36%
19.20%
18.21%
14.35%
14.08%
14.42%
8.05%
8.05%
11.14%
14.88%
8.60%
1.22%
3.17%
Asset Turnover
0.92
0.88
0.79
0.79
0.74
0.68
0.63
0.65
0.51
0.47
0.43
0.48
0.46
0.11
0.11
Inventory Turnover
21.88
23.70
22.18
22.06
26.47
26.80
27.11
25.36
25.11
20.69
15.69
17.94
23.74
4.21
5.54
Equity Multiplier
5.75
6.28
5.50
9.78
7.66
6.39
7.07
7.29
7.25
7.53
6.95
5.78
5.98
6.17
5.88
Current Ratio
1.21
1.13
1.28
1.25
1.24
1.21
1.33
1.29
1.02
0.98
0.88
0.92
0.96
1.16
1.13
Quick Ratio
0.95
0.91
1.03
0.94
1.04
1.01
1.16
1.10
0.82
0.81
0.64
0.71
0.78
0.95
0.78
Debt/Equity Ratio
1.55
1.75
1.73
3.40
2.77
2.29
2.64
2.71
3.25
2.97
2.72
2.31
2.50
2.71
2.55
Interest Coverage Ratio
21.22
20.26
19.12
16.77
15.08
9.91
9.95
8.57
5.87
3.37
4.13
5.36
5.11
Working Capital/Sales
0.22
0.21
0.24
0.23
0.27
0.27
0.27
0.27
0.18
0.10
0.12
0.09
0.07
0.02
-0.43
R&D/Sales
0.06
0.06
0.06
0.06
0.06
0.07
0.07
0.07
0.08
0.09
0.11
0.11
0.11
0.12
0.12
Dividend Payout Ratio %
-21.36%
-21.58%
27.22%
33.65%
39.16%
50.19%
53.29%
54.93%
72.61%
79.34%
65.43%
51.36%
86.43%
169.41%
68.87%
Total Payout
$7706.00
5439.00
10864.00
16513.00
10160.00
6949.00
7432.00
11833.00
-7531.00
11341.00
15496.00
6128.00
3211.00
-5807.00
-1859.00
-7.04%67.99%Payout Ratio %
47.39%
31.11%
72.88%
130.29%
81.24%
66.36%
71.93%
114.71%
-95.82%
155.22%
172.75%
52.92%
45.95%
-657.14%
-84.12%