INTERNATIONAL BUSINESS MACHINES CORP

IBM · CIK 0000051143

19 fiscal years · 69 SEC filings · every number carries its receipt

Revenue (FY)

$67.53B7.6%

FY2025

Net income (FY)

$10.59B75.9%

FY2025

Free cash flow (FY)

$12.10B2.4%

FY2025

Diluted EPS (FY)

$11.1773.7%

FY2025

The story, charted

The shape of the business

FY2007–FY2025 · hover any year for its receipt

Revenue & net incomeRevenueNet income

net margin 16.1% → 15.7%

MarginsNet marginFCF margin

FY2025: net 15.7% · free cash flow 17.9% of revenue

Cash engineOperating cash flowFree cash flow

FY2025: $13.19B operating cash − $1.09B capex = $12.10B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 92% (FY2015) → 32% (FY2025) · on assets 7.0%

Balance sheetLiabilitiesEquity

FY2025: $151.88B assets · $119.14B liabilities · $32.65B equity

The receipts

Financial statements

Annual Quarterly (as reported)

USD in millions except per-share and share counts. Every value links to the filing it came from — hover for the us-gaap tag, click for the 10-K/10-Q on sec.gov.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
Revenue	67,535	62,753	61,860	60,530	57,350	55,179	57,714	79,591	79,139	79,919	81,741	92,793
Net income	10,593	6,023	7,502	1,639	5,743	5,590	9,431	8,728	5,753	11,872	13,190	—
Diluted EPS	11.17	6.43	8.14	1.80	6.35	6.23	10.56	9.52	6.14	12.38	13.42	11.90
Diluted shares	949	937	922	912	905	897	893	916	937	959	983	1,010
Operating cash flow	13,193	13,445	13,931	10,435	12,796	18,197	14,770	15,247	16,724	17,084	17,255	16,868
Capital expenditures	1,091	1,048	1,245	1,346	2,062	2,618	2,286	3,395	3,229	3,567	3,579	3,740
Free cash flow	12,102	12,397	12,686	9,089	10,734	15,579	12,484	11,852	13,495	13,517	13,676	13,128
Cash & equivalents	13,587	13,947	13,068	7,886	6,650	13,188	8,172	11,379	11,972	7,826	7,686	8,476
Total assets	151,880	137,175	135,241	127,243	132,001	155,971	152,186	123,382	125,356	117,470	110,495	117,271
Total liabilities	119,139	109,783	112,628	105,222	113,005	135,244	131,202	106,452	107,631	99,078	96,071	105,257
Shareholders' equity	32,648	27,307	22,533	21,944	18,901	20,597	20,841	16,796	17,594	18,246	14,262	11,868

Figures as reported in SEC filings, normalized by stonks with the tag mapping shown on hover; missing tags render as “—”, never as zero. Free cash flow is derived (operating cash flow − capex) with both parents recorded in its lineage. See methodology.