International Business Machines

IBM · NYSE · USD

$223.72−0.84%−$1.90

Close · October 2, 2026

At a glance

Revenue growth: +7.62%; 2025 vs 2024
Net income growth: +75.88%; 2025 vs 2024
Net margin: 15.7%; 2024: 9.6%

Financial data

Amounts in millions of USD; per-share values in USD; shares in millions.

Income statement · Annual
Item	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Total revenue	67,535	62,753	61,860	60,530	57,351	55,179	57,714	79,591	79,139	79,919
Cost of revenue	28,239	27,201	27,560	27,842	25,865	24,314	26,180	42,654	42,196	41,402
Gross profit	39,296	35,552	34,300	32,688	31,486	30,865	31,534	36,937	36,943	38,517
Selling, general and administrative	19,326	19,281	18,964	19,263	20,027	20,561	18,724	19,366	21,137	20,225
Research and development	8,312	7,479	6,775	6,567	6,488	6,262	5,910	5,379	5,590	5,726
Operating income	12,622	9,788	9,421	7,521	5,583	4,662	7,539	13,218	11,682	14,170
EBIT	12,622	9,788	9,421	7,521	5,583	4,662	7,539	13,218	11,682	14,170
EBITDA	16,172	12,886	12,257	10,775	11,309	11,357	13,598	17,698	16,223	18,551
Interest expense	1,935	1,712	1,607	1,216	1,155	1,288	1,344	723	615	630
Pre-tax income	10,329	5,797	8,690	1,156	4,837	2,572	7,206	11,342	11,400	12,330
Income tax	-242	-218	1,176	-626	124	-1,360	60.0	2,619	5,642	449
Net income	10,593	6,023	7,502	1,639	5,743	5,590	9,431	8,728	5,753	11,872
Net income to common shareholders	10,571	6,015	7,514	1,782	4,713	3,932	7,146	8,723	5,758	11,881
Basic EPS	11.34	6.53	8.25	1.97	5.26	4.42	8.05	9.56	6.17	12.44
Diluted EPS	11.14	6.42	8.15	1.95	5.21	4.38	8.00	9.51	6.14	12.39
Average shares (basic)	932	922	911	903	896	890	887	912	933	955
Average shares (diluted)	949	937	922	912	905	897	893	916	937	959
Dividend per share	6.71	6.67	6.63	6.59	6.55	6.51	6.43	6.21	5.90	5.50