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Earnings transcript
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IBM
International Business Machines Corporation
$248.16
5.02
(2.06%)
Delayed data
| Exchange: | NYSE |
| Market Cap: | 232.783B |
| Shares Outstanding: | 2.455B |
About The Company
| Sector: | Technology | |||||
| Industry: | Information Technology Services | |||||
| CEO: | Arvind Krishna | |||||
| Full Time Employees: | 270300 | |||||
| Address: |
| |||||
| Website: | https://www.ibm.com |
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity. This segment also provides transaction processing software that supports clients’ mission-critical and on-premise workloads in banking, airlines, and retail industries. The Consulting segment offers business transformation services, including strategy, business process design and operations, data and analytics, and system integration services; technology consulting services; and application and cloud platform services. The Infrastructure segment provides on-premises and cloud-based server and storage solutions for its clients’ mission-critical and regulated workloads; and support services and solutions for hybrid cloud infrastructure, as well as remanufacturing and remarketing services for used equipment. The Financing segment offers lease, installment payment, loan financing, and short-term working capital financing services. The company was formerly known as Computing-Tabulating-Recording Co. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 61,860,000 | 62,753,000 | 67,535,000 |
| Gross Profit | 34,300,000 | 35,551,000 | 40,185,000 |
| EBITDA | 14,693,000 | 12,176,000 | 17,284,000 |
| Operating Income | 9,821,000 | 10,074,000 | 10,325,000 |
| Net Income | 7,502,000 | 6,023,000 | 10,593,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 135,241,000 | 137,175,000 | 151,880,000 |
| Total Liabilities | 112,628,000 | 109,782,000 | 119,140,000 |
| Total Stockholders Equity | 22,533,000 | 27,307,000 | 32,648,000 |
| Total Debt | 59,935,000 | 58,396,000 | 67,154,000 |
| Cash and Cash Equivalents | 13,068,000 | 13,947,000 | 13,641,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 13,931,000 | 13,445,000 | 13,193,000 |
| Capital Expenditure | -1,810,000 | -1,685,000 | 0 |
| Free Cash Flow | 12,121,000 | 11,760,000 | 13,193,000 |
| Net Income | 7,502,000 | 6,023,000 | 10,593,000 |
| Net Change in Cash | 5,101,000 | 1,071,000 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 81,839,037.722 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 83,769,577.639 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 82,896,000 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 16,733,897.205 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 17,128,641.051 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 16,950,017.758 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 11,876,765.825 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 12,242,404.292 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 12,076,951.012 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 24,919,697.835 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 25,507,540.419 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 25,241,539.114 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 12.730 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 12.900 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 12.520 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 6 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: IBM demonstrates consistent revenue and net income as reflected in the Income Statements data, with positive trends in operating income and EPS over recent periods. This indicates a strong operational foundation and profitability, appealing to investors seeking stability.
- Strong Cash Flow Generation: The Cash Flow Statements highlight significant net cash provided by operating activities and positive free cash flow, showcasing IBM's ability to generate liquidity for reinvestment, debt servicing, and shareholder returns.
- High Dividend Yield: As per the Key Metrics data, IBM offers a competitive dividend yield (dividendYieldTTM), providing an attractive income stream for investors focused on wealth-building through dividends.
- Market Position and Scale: With a substantial market capitalization (mktCap) and a global presence indicated by Revenue Geo Segments, IBM maintains a strong foothold in the technology sector, supported by a large workforce (fullTimeEmployees) and diversified operations.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates IBM intrinsic value between $184.64 – $290.57 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about IBM valuation
Is International Business Machines Corporation (IBM) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for International Business Machines Corporation (IBM) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is IBM a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether IBM trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is IBM’s P/E ratio?
You can see IBM’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for IBM?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is IBM a good long-term investment?
Whether IBM fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
IBM
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Daily snapshot
2.06
Trading Metrics:
| Open: | 243 | Previous Close: | 243.14 | |
| Day Low: | 241.49 | Day High: | 248.21 | |
| Year Low: | 214.5 | Year High: | 324.9 | |
| Price Avg 50: | 261.74 | Price Avg 200: | 277.57 | |
| Volume: | 3.224M | Average Volume: | 6.359M |
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Login — it's freeIBM full analysis
Welcome to MARKETSNAP’s SWOT analysis for IBM! Hey everyone, I’m thrilled to dive into one of the tech world’s heavyweights today. International Business Machines, or IBM as we all know it (ticker IBM), has been a cornerstone of innovation for decades, and if you’re a long-term investor looking to build wealth, this is a stock that’s likely on your radar. Let’s break down where IBM stands right now, what’s driving its performance, and what the future might hold with a…
