International Business Machines CorporationIBMNYSE

Revenue CAGR (5Y)

+4.1%

Margin Trend

improving

Free Cash Flow

$11.6B

Profitability

Profitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	57,351	60,530↑5.5%	61,860↑2.2%	62,753↑1.4%	67,535↑7.6%
Gross Profit	31,486	32,687↑3.8%	34,300↑4.9%	35,551↑3.6%	40,185↑13.0%
Operating Income	6,865	8,174↑19.1%	9,821↑20.1%	10,074↑2.6%	10,325↑2.5%
Net Income	5,742	1,640↓71.4%	7,502↑357.4%	6,023↓19.7%	10,593↑75.9%
EBITDA	12,409	7,174↓42.2%	14,693↑104.8%	12,176↓17.1%	17,284↑42.0%
EPS Diluted	6.35	1.80↓71.7%	8.14↑352.2%	6.43↓21.0%	11.17↑73.7%

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Values in millions except EPS · Ratios shown as percentages

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