To the full analysis
International Business Machines stock: growth
IBMInternational Business Machines reported $67.54B in revenue for fiscal 2025, up 7.6% on the prior year, up 4.1% a year on average over up to five years.
Daily figure as of 12 Nov 2026
Revenue (Annual rate)
−1.6%
per year from 2006 to 2025, per share 1.3%
Earnings (Annual rate)
0.6%
per year from 2006 to 2025, per share 3.5%
Free cash flow (Annual rate)
1.1%
per year from 2006 to 2025, per share 4%
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | 4.1% | −1.9% | −1.6% |
| Revenue per share | 4.1% | −1.0% | 1.3% |
| Earnings | 13.6% | −2.2% | 0.6% |
| Earnings per share | 13.6% | −1.3% | 3.5% |
| Free cash flow | −4.2% | −0.8% | 1.1% |
| Free cash flow per share | −4.2% | 0.1% | 4.0% |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $91.42B | $9.49B | $9.85B |
| 2007 | $98.79B | $10.42B | $10.58B |
| 2008 | $103.63B | $12.33B | $13.93B |
| 2009 | $95.76B | $13.43B | $16.7B |
| 2010 | $99.87B | $14.83B | $14.8B |
| 2011 | $106.92B | $15.86B | $15.18B |
| 2012 | $102.87B | $16.6B | $14.87B |
| 2013 | $98.37B | $16.48B | $13.35B |
| 2014 | $92.79B | $12.02B | $12.69B |
| 2015 | $81.74B | $13.19B | $13.1B |
| 2016 | $79.92B | $11.87B | $12.93B |
| 2017 | $79.14B | $5.75B | $12.95B |
| 2018 | $79.59B | $8.73B | $11.28B |
| 2019 | $57.71B | $9.43B | $11.86B |
| 2020 | $55.18B | $5.59B | $14.97B |
| 2021 | $57.35B | $5.74B | $10.03B |
| 2022 | $60.53B | $1.64B | $8.46B |
| 2023 | $61.86B | $7.5B | $12.12B |
| 2024 | $62.75B | $6.02B | $11.76B |
| 2025 | $67.54B | $10.59B | $12.1B |
Revenue by segment
How International Business Machines Corporation makes its money and how that has shifted. Names are as the company reports them.
- Software44%
- Consulting31%
- Infrastructure Services23%
- Financing1%
Figures as a table
| 2024 | 2025 | Share 2025 | |
|---|---|---|---|
| Software | $27.09B | $29.96B | 44.4% |
| Consulting | $20.69B | $21.06B | 31.2% |
| Infrastructure Services | $14.02B | $15.72B | 23.3% |
| Financing | $713M | $737M | 1.1% |
| Total revenue | $62.75B | $67.54B | 100% |
Revenue by region
Where International Business Machines Corporation generates its revenue.
- Americas49%
- E M E A33%
- Asia Pacific18%
Figures as a table
| 2021 | 2022 | 2023 | 2024 | 2025 | Share 2025 | |
|---|---|---|---|---|---|---|
| Americas | $28.3B | $31.06B | $31.67B | $31.27B | $33.34B | 49.4% |
| E M E A | $17.45B | $17.95B | $18.49B | $19.43B | $22.19B | 32.9% |
| Asia Pacific | $11.6B | $11.52B | $11.7B | $12.06B | $12B | 17.8% |
| Total revenue | $57.35B | $60.53B | $61.86B | $62.75B | $67.54B | 100% |
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 11 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 31 May 2023)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.