International Business Machines (IBM)

Official site

TECHNOLOGY • INFORMATION TECHNOLOGY SERVICES • NYSE

$234.09

+6.20 (+2.72%)

Market Cap: $214.69B

Last updated: Oct 16, 2026 at 1:55 PM ET

Earnings

Performance (10Y)

Beat Rate

95%(37/39)

Avg Surprise

+3.45%

Streak

14 Q

Upcoming Estimates

Period ending Sep 30, 2026

EPS Consensus$2.86

Range$2.75 - $3.12

19 analysts

EPS RevisionsNo revisions (7d)

30d

EPS Estimate DriftChange to current

90d ago$2.94-2.7%

60d ago$2.89-0.8%

30d ago$2.89-0.8%

7d ago$2.87-0.2%

Current$2.86

Revenue Consensus

$16.8B

Range$16.7B - $17.1B

18 analysts

Period ending Dec 31, 2026

EPS Consensus$4.70

Range$4.47 - $5.02

23 analysts

Revenue Consensus

$20.7B

Range$20.2B - $21.3B

22 analysts

Period	Reported	Est.	Range	Surprise	B/M	Analysts	Revisions	YoY
Dec 31, 2026Dec 26EST	-	$4.70	$4.47 - $5.02	-	-	23	-	-
Sep 30, 2026Sep 26EST	-	$2.86	$2.75 - $3.12	-	-	19	0 2 30d	-
Jun 30, 2026Jun 26 Reported Jul 22, 2026Reported Jul 22	$2.93	$2.93	$2.93 - $2.96	+0.00%	Beat	9	2 0 30d	+4.6%
Mar 31, 2026Mar 26 Reported Apr 22, 2026Reported Apr 22	$1.91	$1.81	$1.70 - $1.91	+5.52%	Beat	17	2 3 30d	+19.4%
Dec 31, 2025Dec 25 Reported Jan 28, 2026Reported Jan 28	$4.52	$4.29	$3.99 - $4.45	+5.36%	Beat	17	0 5 30d	+15.3%
Sep 30, 2025Sep 25 Reported Oct 22, 2025Reported Oct 22	$2.65	$2.45	$2.36 - $2.65	+8.16%	Beat	16	2 0 30d	+15.2%
Jun 30, 2025Jun 25 Reported Jul 23, 2025Reported Jul 23	$2.80	$2.65	$2.59 - $2.74	+5.66%	Beat	16	3 1 30d	+15.2%
Mar 31, 2025Mar 25 Reported Apr 23, 2025Reported Apr 23	$1.60	$1.43	$1.34 - $1.58	+11.89%	Beat	16	1 3 30d	-4.8%
Dec 31, 2024Dec 24 Reported Jan 29, 2025Reported Jan 29	$3.92	$3.78	$3.69 - $4.04	+3.70%	Beat	13	0 5 30d	+1.3%
Sep 30, 2024Sep 24 Reported Oct 23, 2024Reported Oct 23	$2.30	$2.23	$2.10 - $2.40	+3.14%	Beat	12	2 0 30d	+4.5%
Jun 30, 2024Jun 24 Reported Jul 24, 2024Reported Jul 24	$2.43	$2.17	$2.08 - $2.29	+11.98%	Beat	13	2 0 30d	+11.5%
Mar 31, 2024Mar 24 Reported Apr 24, 2024Reported Apr 24	$1.68	$1.60	$1.46 - $1.67	+5.00%	Beat	12	3 0 30d	+23.5%
Dec 31, 2023Dec 23 Reported Jan 24, 2024Reported Jan 24	$3.87	$3.78	$3.66 - $3.85	+2.38%	Beat	12	3 0 30d	+7.5%
Sep 30, 2023Sep 23 Reported Oct 25, 2023Reported Oct 25	$2.20	$2.13	$2.09 - $2.17	+3.29%	Beat	11	0 3 30d	+21.5%
Jun 30, 2023Jun 23 Reported Jul 19, 2023Reported Jul 19	$2.18	$2.00	$1.89 - $2.11	+9.00%	Beat	12	No revisions (30d)	-5.6%
Mar 31, 2023Mar 23 Reported Apr 19, 2023Reported Apr 19	$1.36	$1.24	$1.15 - $1.46	+9.68%	Beat	12	1 0 30d	-2.9%
Dec 31, 2022Dec 22 Reported Jan 25, 2023Reported Jan 25	$3.60	$3.61	$3.52 - $3.75	-0.28%	Miss	11	3 0 30d	+7.5%
Sep 30, 2022Sep 22 Reported Oct 19, 2022Reported Oct 19	$1.81	$1.80	$1.67 - $2.04	+0.56%	Beat	12	1 0 30d	-28.2%
Jun 30, 2022Jun 22 Reported Jul 18, 2022Reported Jul 18	$2.31	$2.29	$2.15 - $2.41	+0.87%	Beat	12	0 1 30d	-0.9%
Mar 31, 2022Mar 22 Reported Apr 19, 2022Reported Apr 19	$1.40	$1.42	$1.29 - $1.61	-1.41%	Miss	11	0 2 30d	-20.9%
Dec 31, 2021Dec 21 Reported Jan 24, 2022Reported Jan 24	$3.35	$3.29	$1.53 - $3.94	+1.82%	Beat	10	0 2 30d	+61.8%
Sep 30, 2021Sep 21 Reported Oct 20, 2021Reported Oct 20	$2.52	$2.51	$2.31 - $2.63	+0.40%	Beat	12	No revisions (30d)	-2.3%
Jun 30, 2021Jun 21 Reported Jul 19, 2021Reported Jul 19	$2.33	$2.29	$2.15 - $2.40	+1.75%	Beat	12	1 0 30d	+6.9%
Mar 31, 2021Mar 21 Reported Apr 19, 2021Reported Apr 19	$1.77	$1.65	$1.46 - $1.82	+7.27%	Beat	12	1 0 30d	-3.8%
Dec 31, 2020Dec 20 Reported Jan 21, 2021Reported Jan 21	$2.07	$1.88	$1.62 - $1.99	+10.11%	Beat	12	2 0 30d	-56.1%
Sep 30, 2020Sep 20 Reported Oct 19, 2020Reported Oct 19	$2.58	$2.58	$2.37 - $2.77	+0.00%	Beat	12	1 0 30d	-3.7%
Jun 30, 2020Jun 20 Reported Jul 20, 2020Reported Jul 20	$2.18	$2.09	$1.47 - $2.49	+4.31%	Beat	14	2 0 30d	-31.2%
Mar 31, 2020Mar 20 Reported Apr 20, 2020Reported Apr 20	$1.84	$1.80	$1.43 - $2.00	+2.22%	Beat	11	2 0 30d	-18.2%
Dec 31, 2019Dec 19 Reported Jan 21, 2020Reported Jan 21	$4.71	$4.69	$4.57 - $4.72	+0.43%	Beat	16	2 0 30d	-3.3%
Sep 30, 2019Sep 19 Reported Oct 16, 2019Reported Oct 16	$2.68	$2.66	$2.57 - $2.80	+0.75%	Beat	17	1 0 30d	-21.6%
Jun 30, 2019Jun 19 Reported Jul 17, 2019Reported Jul 17	$3.17	$3.07	$3.02 - $3.13	+3.26%	Beat	18	No revisions (30d)	+2.9%
Mar 31, 2019Mar 19 Reported Apr 16, 2019Reported Apr 16	$2.25	$2.24	$2.16 - $2.28	+0.45%	Beat	17	No revisions (30d)	-8.2%
Dec 31, 2018Dec 18 Reported Jan 22, 2019Reported Jan 22	$4.87	$4.82	$4.67 - $4.91	+1.04%	Beat	16	1 0 30d	-6.0%
Sep 30, 2018Sep 18 Reported Oct 16, 2018Reported Oct 16	$3.42	$3.40	$3.26 - $3.51	+0.59%	Beat	19	No revisions (30d)	+3.6%
Jun 30, 2018Jun 18 Reported Jul 18, 2018Reported Jul 18	$3.08	$3.04	$2.96 - $3.11	+1.32%	Beat	19	No revisions (30d)	+3.7%
Mar 31, 2018Mar 18 Reported Apr 17, 2018Reported Apr 17	$2.45	$2.42	$2.31 - $2.52	+1.24%	Beat	19	3 0 30d	+2.9%
Dec 31, 2017Dec 17 Reported Jan 18, 2018Reported Jan 18	$5.18	$5.17	$5.09 - $5.30	+0.19%	Beat	19	2 0 30d	+3.4%
Sep 30, 2017Sep 17 Reported Oct 17, 2017Reported Oct 17	$3.30	$3.28	$3.14 - $3.36	+0.61%	Beat	21	No revisions (30d)	-
Jun 30, 2017Jun 17 Reported Jul 18, 2017Reported Jul 18	$2.97	$2.74	$2.65 - $3.09	+8.39%	Beat	22	No revisions (30d)	-
Mar 31, 2017Mar 17 Reported Apr 18, 2017Reported Apr 18	$2.38	$2.35	-	+1.28%	Beat	-	-	-
Dec 31, 2016Dec 16 Reported Jan 19, 2017Reported Jan 19	$5.01	$4.88	-	+2.66%	Beat	-	-	-

Dividends

Dividend Metrics

Forward Yield2.89%

Forward Annual Dividend$6.76

Payout Ratio42.61%

FrequencyQuarterly

Pay MonthsMar, Jun, Sep, Dec

Growth

3Y CAGR+0.60%

5Y CAGR+0.61%

IBM dividend history and ex-dividend dates Run IBM in the free DRIP calculator

Key Metrics

Valuation
P/E Ratio	19.49	EV/EBITDA	15.66x
Price/FCF	15.98x	FCF Yield	6.26%
Profitability
Profit Margin	15.50%	Operating Margin	16.60%
ROE	34.50%	ROIC	12.83%
Financial Health
Debt/Equity	1.80x	Interest Coverage	6.41x
Current Ratio	0.79x	Quick Ratio	0.74x
Trading Statistics
Beta	0.72	Avg Volume	5.71M
52-Week High	$330.09	52-Week Low	$197.77

Technical Indicators Dashboard

Moving Averages

SMA 10$225.95

SMA 20$226.20

SMA 50$231.99

SMA 200$250.10

EMA 10$227.87

EMA 20$228.08

EMA 50$231.88

EMA 200$246.60

MACD

Line: -1.05Signal: -2.33Hist: 1.28

ADX

ADX: 11.4+DI: 25.1-DI: 20.3

Aroon & PSAR

Aroon Up12.0

Aroon Down80.0

PSAR$220.22

Bollinger Bands

Upper Band$235.40

Lower Band$217.00

%B Position814%(Upper)

Band Width0.93

RSI (14-Day)

Neutral

56.4

Momentum Oscillators

Stoch %K79.6

Stoch %D66.2

Williams %R-1.1

ROC (10d)3.8%

Momentum8.46

CCI (20d)80.3

MFI (14d)52.5

Volatility Measures

ATR (14d)$6.26(2.7%)

StdDev (20d)4.60

Hist Vol26.4%(Moderate)

Volume Flow

VWAP$231.41

OBV100.0M

AD Line-1.5B

CMF (20d)-0.304

Volume Metrics

Avg Vol (20d)5.7M

Vol Ratio1.0x

VWMA (20d)$226.60

Pivot Points

R3$237.17

R2$235.15

R1$231.52

Pivot Point$229.50

S1$225.87

S2$223.85

S3$220.22

Advanced Oscillators

TSI-4.97

Ultimate Osc57.7

KST-40.88

Financial Data

Quarter	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Total Revenue	$17.16B	$15.92B	$19.69B	$16.33B	$16.98B	$14.54B	$17.55B	$14.97B	$15.77B	$14.46B	$17.38B	$14.75B
Cost of Revenue	$7.25B	$6.97B	$7.76B	$6.97B	$7.00B	$6.51B	$7.11B	$6.55B	$6.82B	$6.72B	$7.11B	$6.73B
Gross Profit	$9.91B	$8.95B	$11.93B	$9.36B	$9.98B	$8.03B	$10.44B	$8.42B	$8.95B	$7.74B	$10.27B	$8.02B

Operating Expenses	$6.94B	$7.09B	$7.31B	$6.44B	$6.87B	$6.42B	$6.71B	$8.79B	$6.30B	$6.24B	$5.38B	$5.95B
R&D	$2.15B	$2.00B	$1.91B	$1.86B	$1.88B	$1.70B	$1.67B	$1.64B	$1.60B	$1.58B	$1.51B	$1.50B
SG&A	$4.98B	$5.09B	$5.46B	$4.75B	$5.03B	$4.89B	$4.87B	$4.91B	$4.94B	$4.97B	$4.79B	$4.46B
Operating Income	$2.97B	$1.86B	$4.62B	$2.92B	$3.11B	$1.61B	$3.73B	$-373,000,000	$2.65B	$1.50B	$4.88B	$2.07B

Interest Income	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Interest Expense	$486.00M	$473.00M	$478.00M	$492.00M	$510.00M	$455.00M	$424.00M	$429.00M	$427.00M	$432.00M	$405.00M	$412.00M
Income Before Tax	$2.48B	$1.39B	$4.14B	$2.43B	$2.60B	$1.16B	$3.31B	$-802,000,000	$2.22B	$1.07B	$3.76B	$1.87B
Income Tax Expense	$313.00M	$172.00M	$-1,435,000,000	$686.00M	$404.00M	$103.00M	$380.00M	$-485,000,000	$389.00M	$-502,000,000	$474.00M	$159.00M

Net Income	$2.17B	$1.22B	$5.60B	$1.74B	$2.19B	$1.05B	$2.91B	$-330,000,000	$1.83B	$1.60B	$3.29B	$1.70B

EBITDA	$4.32B	$3.13B	$5.92B	$4.21B	$4.37B	$2.79B	$4.84B	$895.00M	$3.80B	$2.64B	$6.04B	$3.38B
EBIT	$2.97B	$1.86B	$4.62B	$2.92B	$3.11B	$1.61B	$3.73B	$-373,000,000	$2.65B	$1.50B	$4.88B	$2.29B

* Some calculated fields are derived from available data when not provided by source

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Government Contracts

Gov Obligations (TTM)

$1.10B

Gov Obligations / Revenue

1.6%

Obligations YoY

-12.6%

Active Awards

238

New Awards (TTM)

Avg Remaining Term

5.6 mo

Top agency: Department of Defense at 26.8% of trailing twelve month obligations across 22 agencies

Recent Awards

Award ID	Agency	Obligated	Start	End	Description
28321325FDS030162	Social Security AdministrationSocial Security Administration	$77.40M	Sep 26, 2025	Oct 6, 2026	ORDER FOR Z17 CLINS OFF THE IBM CONTRACT
70SBUR25F00000032	Department of Homeland SecurityU.S. Citizenship and Immigration Services	$27.58M	Aug 8, 2025	Mar 1, 2027	AWARD, ARCHITECTURE ENGINEERING SUPPORT (AES) SERVICES, USCIS ENTERPRISE INFRASTRUCTURE DIVISION. EXCLUSION 2(D). CONTRACTOR SUPPORT TO DESIGN AND MAINTAIN THE AGENCY'S NETWORKS, SUPPORTING ITS DATA CENTERS AND CLOUD SYSTEMS, AND ENSURING ALL PL
FA714626C0015	Department of DefenseDepartment of the Air Force	$24.44M	Mar 31, 2026	Jan 1, 2028	UKRAINE DRMS
70RDA125FC0000061	Department of Homeland SecurityOffice of Procurement Operations	$21.03M	Sep 26, 2025	Sep 25, 2026	CAPSIS
N0003926FF003	Department of DefenseDepartment of the Navy	$15.61M	Apr 21, 2026	Jul 22, 2026	NAVY ENTERPRISE RESOURCE PLANNING (ERP) TECHNICAL SUPPORT SERVICES (NETSS) CONTINUATE CONTRACT. PLEASE REFER TO SECTION J FOR THE NETSS PERFORMANCE WORK STATEMENT AND CONFORMED MODIFICATION P00193 OF NETSS SEAPORT TASK ORDER # N0003921F3007.
70FA3126F00000046	Department of Homeland SecurityFederal Emergency Management Agency	$15.29M	Jul 8, 2026	Jan 7, 2027	THE CONTRACTOR SHALL PERFORM OPERATION & MAINTENANCE SERVICES TO FEMA'S NATIONAL FLOOD INSURANCE PROGRAM RISK MAP CUSTOMER DATA & SERVICES. ALL CLAUSES FLOW FROM CIO-SP3 CONTRACT #HHSN316201200030W.
HC108426F0008	Department of DefenseDefense Information Systems Agency	$12.92M	Oct 27, 2025	Oct 26, 2026	ESL SUSTAINMENT
47QFEA26F0004	General Services AdministrationFederal Acquisition Service	$11.84M	Apr 1, 2026	Mar 31, 2027	CONTRACT ACQUISITION LIFECYCLE MANAGEMENT BRIDGE CALM
47QPCA26F0005	General Services AdministrationFederal Acquisition Service	$10.16M	Oct 22, 2025	Oct 21, 2026	LEGACY SYSTEM FOR AWARD MANAGEMENT (LSAM) & FEDERAL PROCUREMENT DATA SYSTEM (FPDS) OPERATIONS & MAINTENANCE LOGICAL FOLLOW-ON
205AE926F00080	Department of the TreasuryInternal Revenue Service	$8.80M	Jul 1, 2026	Jun 30, 2027	TASK ORDER 25 FOR RED HAT TECHNICAL SERVICES UNDER ENTERPRISE SYSTEMS IBM SUPPORT INDEFINITE DELIVERY INDEFINITE

Federal contract obligations are bookings recorded by the awarding agency, not recognized revenue. They can exceed 100% of revenue and can be negative when contracts are de-obligated. Source: USAspending.gov prime awards, data through Jul 31, 2026.

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IBM Valuation and Fair Value

P/E: 19.5x
Forward P/E: 17.4x
EV/EBITDA: 15.7x
P/FCF: 16.0x
PEG: 2.2x
P/B: 6.4x

See GNG's fair value

IBM Profitability: Margins, ROIC and FCF

Gross margin: 58.1%
Operating margin: 16.6%
Net margin: 15.5%
ROIC: 12.8%
ROE: 34.5%
FCF margin: 20.0%
FCF yield: 6.3%

IBM Competitors

Company	Ticker
Marvell Technology Group Ltd	MRVL
Amphenol Corporation	APH
Shopify Inc	SHOP
Sandisk Corp	SNDK
KLA Corporation	KLAC
Salesforce.com Inc	CRM
Arista Networks	ANET
Analog Devices Inc	ADI

Sector: Technology

IBM Analyst Ratings

Consensus: Hold
Analysts: 24
Strong Buy: 3
Buy: 9
Hold: 10
Sell: 1
Strong Sell: 1

IBM Bull Case vs Bear Case

Bull case

IBM converts 20.0% of revenue into free cash flow.
IBM beat EPS estimates in 87.5% of its last 8 reported quarters.

IBM Earnings: Beat Rate and Next Report

Beat rate: 7 of 8 quarters (87.5%)
Average surprise: 5.4%
EPS estimate (fiscal period ending Sep 30, 2026): $2.86
Estimate revisions (30 days, fiscal period ending Sep 30, 2026): 0 up, 2 down

IBM Dividend

Forward yield: 2.9%
Payout ratio: 42.6%
3Y DPS growth: 0.6%
5Y DPS growth: 0.6%
Pay months: Mar, Jun, Sep, Dec

IBM dividend history

Frequently Asked Questions About IBM

What is IBM's current dividend yield?

International Business Machines (IBM) has a forward dividend yield of 2.89%.

Does IBM pay dividends?

Yes, International Business Machines pays dividends with a forward dividend yield of 2.89%.

What is IBM's P/E ratio?

International Business Machines has a price-to-earnings (P/E) ratio of 19.49.

What is IBM's market cap?

International Business Machines (IBM) has a market capitalization of $214.69B with a current stock price of $234.09.

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