International Business Machines Corporation (IBM) — Financial statements
Income statement, balance sheet, and cash flow for International Business Machines Corporation — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 67,535↑7.6% | 62,753↑1.4% | 61,860↑2.2% | 60,530↑5.5% | 57,351 | |
| Cost of Revenue | 27,350↑0.5% | 27,201↓1.3% | 27,560↓1.0% | 27,842↑7.6% | 25,865 | |
| Gross Profit | 40,185↑13.0% | 35,551↑3.6% | 34,300↑4.9% | 32,687↑3.8% | 31,486 | |
| Operating Expenses | ||||||
| R&D Expenses | 8,320↑11.2% | 7,479↑10.4% | 6,775↑3.2% | 6,567↑1.2% | 6,488 | |
| General & Administrative Expenses | 18,285↑9.2% | 16,737↑2.5% | 16,322↑1.4% | 16,103↓0.0% | 16,105 | |
| Selling & Marketing Expenses | 3,255↑177.5% | 1,173↓5.2% | 1,237↓50.6% | 2,506↓5.1% | 2,640 | |
| SG&A Expenses | 21,540↑20.3% | 17,910↑2.0% | 17,559↓5.6% | 18,609↓0.7% | 18,745 | |
| Other Expenses | 0.00↓100.0% | 89↓38.6% | 145↑121.9% | -662↓8.2% | -612 | |
| Operating Expenses | 29,860↑17.2% | 25,478↑4.1% | 24,479↓0.1% | 24,514↓0.4% | 24,621 | |
| Total Costs & Expenses | 57,210↑8.6% | 52,679↑1.2% | 52,039↓0.6% | 52,356↑3.7% | 50,486 | |
| Operating Results | ||||||
| Operating Income | 10,325↑2.5% | 10,074↑2.6% | 9,821↑20.1% | 8,174↑19.1% | 6,865 | |
| Depreciation & Amortization | 5,021↑7.6% | 4,667↑6.2% | 4,396↓8.5% | 4,802↓25.2% | 6,417 | |
| EBITDA | 17,284↑42.0% | 12,176↓17.1% | 14,693↑104.8% | 7,174↓42.2% | 12,409 | |
| EBIT | 12,263↑63.3% | 7,509↓27.1% | 10,297↑334.1% | 2,372↓60.4% | 5,992 | |
| Interest & Other Income | ||||||
| Net Interest Income | -1,935↓100.5% | -965↓3.0% | -937↑11.1% | -1,054↑4.4% | -1,103 | |
| Interest Income | 0.00↓100.0% | 747↑11.5% | 670↑313.6% | 162↑211.5% | 52 | |
| Interest Expense | 1,935↑13.0% | 1,712↑6.5% | 1,607↑32.2% | 1,216↑5.3% | 1,155 | |
| Non-Operating Income | -1,938↓175.6% | 2,565↑638.9% | -476↓108.2% | 5,802↑564.6% | 873 | |
| Other Income / Expenses | 3↑100.1% | -4,277↓278.2% | -1,131↑83.9% | -7,018↓246.1% | -2,028 | |
| Income Before Tax | 10,328↑78.2% | 5,797↓33.3% | 8,690↑651.7% | 1,156↓76.1% | 4,837 | |
| Income Tax Expense | -242↓11.0% | -218↓118.5% | 1,176↑287.9% | -626↓604.8% | 124 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 10,570↑75.7% | 6,015↓19.9% | 7,514↑321.4% | 1,783↓62.2% | 4,713 | |
| Net Income from Discontinued Operations | 22↑175.0% | 8↑166.7% | -12↑91.6% | -143↓113.9% | 1,030 | |
| Net Income | 10,593↑75.9% | 6,023↓19.7% | 7,502↑357.4% | 1,640↓71.4% | 5,742 | |
| Bottom-Line Net Income | 10,593↑75.9% | 6,023↓19.7% | 7,502↑357.7% | 1,639↓71.5% | 5,743 | |
| EPS (Basic) | 11.36↑74.0% | 6.53↓20.7% | 8.23↑352.2% | 1.82↓71.6% | 6.41 | |
| EPS (Diluted) | 11.17↑73.7% | 6.43↓21.0% | 8.14↑352.2% | 1.80↓71.7% | 6.35 | |
| Weighted Average Shares | 932↓0.5% | 937↑2.9% | 911↑0.9% | 903↑0.7% | 896 | |
| Weighted Average Diluted Shares | 949↑1.2% | 937↑1.6% | 922↑1.1% | 912↑0.8% | 905 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.