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IBM (IBM) valuation

Run six valuation models on IBM with live data: DCF, Reverse DCF, Graham number, Monte Carlo, scenarios and sum-of-the-parts (NAV).

IBM
IBM

IBM

IBM · Technology

Current price

233,65 USD

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Valuation

Market cap
$220.13B
PE (TTM | NTM | +1y)
20.77 | 17.73 | 17.73
Price / Sales
3.19
EV / EBITDA
17.11
Price / Book
6.39

Cash flow

FCF yield(12.79 / 233.65)
+5.47%
SBC-adjusted FCF yield
—
SBC impact
—

Margins & growth

Profit margin
+15.52%
Operating margin
+16.55%
Quarterly earnings (YoY)
-1.32%
Quarterly revenue (YoY)
+1.09%

Balance

Cash
$8.13B
Debt
$65.27B
Net position
-$57.14B

Dividend

Dividend yield
+2.84%
Payout ratio
+59.77%
Next payout
9/10/2026

Price (1 year)

-2.53%
$309.24

Revenue

estimate
Q4 21: $16.69BQ4 21Q1 22: $14.2BQ2 22: $15.54BQ3 22: $14.11BQ3 22Q4 22: $16.69BQ1 23: $14.25BQ2 23: $15.48BQ2 23Q3 23: $14.75BQ4 23: $17.38BQ1 24: $14.46BQ1 24Q2 24: $15.77BQ3 24: $14.97BQ2 25: $16.98BQ2 25Q3 25: $16.33BQ4 25: $19.69BQ1 26: $15.92BQ2 26: $17.16BQ2 26Q3 26 · estimate: $16.84BQ3 26$19.69B

EBITDA

Q2 25: $4.37BQ2 25Q3 25: $4.21BQ3 25Q4 25: $5.92BQ4 25Q1 26: $3.13BQ1 26Q2 26: $4.31BQ2 26$5.92B

Net income

Q4 21: $2.33BQ4 21Q1 22: $733MQ2 22: $1.39BQ3 22: -$3.2BQ3 22Q4 22: $2.71BQ1 23: $927MQ2 23: $1.58BQ2 23Q3 23: $1.7BQ4 23: $3.29BQ1 24: $1.61BQ1 24Q2 24: $1.83BQ3 24: -$330MQ2 25: $2.19BQ2 25Q3 25: $1.74BQ4 25: $5.6BQ1 26: $1.22BQ2 26: $2.17BQ2 26$5.6B

Free cash flow

Q1 22: $2.97BQ1 22Q1 23: $3.47BQ1 24: $3.93BQ1 24Q2 25: $1.33BQ3 25: $2.67BQ3 25Q4 25: $3.49BQ1 26: $4.78BQ2 26: $2.21BQ2 26$4.78B

EPS

estimate
Q4 21: 2.57Q4 21Q1 22: 0.81Q2 22: 1.53Q3 22: -3.54Q3 22Q4 22: 3.00Q1 23: 1.01Q2 23: 1.72Q2 23Q3 23: 1.84Q4 23: 3.57Q1 24: 1.72Q1 24Q2 24: 1.96Q3 24: -0.36Q2 25: 2.31Q2 25Q3 25: 1.84Q4 25: 5.88Q1 26: 1.28Q2 26: 2.27Q2 26Q3 26 · estimate: 2.89Q3 265.88

Cash & debt

CashDebt
Q4 21 · Cash: $6.65BQ4 21Q1 22 · Cash: $9.93BQ2 22 · Cash: $7.03BQ3 22 · Cash: $7.82BQ3 22Q4 22 · Cash: $7.89BQ1 23 · Cash: $9.34BQ2 23 · Cash: $9.39BQ2 23Q3 23 · Cash: $7.26BQ4 23 · Cash: $13.07BQ1 24 · Cash: $14.6BQ1 24Q2 24 · Cash: $12.21BQ3 24 · Cash: $13.2BQ2 25 · Cash: $11.94BQ2 25 · Debt: $67.72BQ2 25Q3 25 · Cash: $11.57BQ3 25 · Debt: $66.57BQ4 25 · Cash: $13.59BQ4 25 · Debt: $64.61BQ1 26 · Cash: $10.82BQ1 26 · Debt: $69.8BQ2 26 · Cash: $7.17BQ2 26 · Debt: $65.27BQ2 26$69.8B

Return of capital

DividendsBuybacks
Q1 22 · Dividends: $1.48BQ1 22Q1 23 · Dividends: $1.5BQ1 24 · Dividends: $1.52BQ1 24Q2 25 · Dividends: $1.56BQ2 25 · Buybacks: $153MQ3 25 · Dividends: $1.57BQ3 25 · Buybacks: $414MQ3 25Q4 25 · Dividends: $1.57BQ4 25 · Buybacks: $167MQ1 26 · Dividends: $1.58BQ1 26 · Buybacks: $350MQ2 26 · Dividends: $1.59BQ2 26 · Buybacks: $115MQ2 26$1.98B

Shares outstanding

Q4 21: 898.07MQ4 21Q1 22: 899.31MQ1 22: 899.44MQ2 22: 903.18MQ3 22: 904.13MQ3 22Q4 22: 906.09MQ1 23: 907.11MQ1 23: 908.05MQ2 23: 911.01MQ2 23Q3 23: 913.12MQ4 23: 915.01MQ1 24: 916.74MQ1 24: 918.6MQ1 24Q2 24: 921.15MQ3 24: 924.65MQ1 25: 927.26MQ2 25: 931.52MQ2 25Q3 25: 934.74MQ4 25: 936.95MQ1 26: 938.03MQ1 26: 939.89MQ2 26: 942.13MQ2 26942.13M

Stock-based compensation

Q1 22: $234MQ1 22Q1 23: $268MQ1 24: $320MQ1 24Q2 25: $441MQ3 25: $443MQ3 25Q4 25: $430MQ1 26: $506MQ2 26: $498MQ2 26$506M

Operating expenses

R&DSG&A
Q4 21 · R&D: $1.63BQ4 21 · SG&A: $4.9BQ4 21Q1 22 · R&D: $1.68BQ1 22 · SG&A: $4.6BQ2 22 · R&D: $1.67BQ2 22 · SG&A: $4.86BQ3 22 · R&D: $1.61BQ3 22 · SG&A: $4.39BQ3 22Q4 22 · R&D: $1.6BQ4 22 · SG&A: $4.77BQ1 23 · R&D: $1.66BQ1 23 · SG&A: $4.85BQ2 23 · R&D: $1.69BQ2 23 · SG&A: $4.9BQ2 23Q3 23 · R&D: $1.69BQ3 23 · SG&A: $4.46BQ4 23 · R&D: $1.75BQ4 23 · SG&A: $4.79BQ1 24 · R&D: $1.8BQ1 24 · SG&A: $4.97BQ1 24Q2 24 · R&D: $1.84BQ2 24 · SG&A: $4.94BQ3 24 · R&D: $1.88BQ3 24 · SG&A: $4.91BQ2 25 · R&D: $2.1BQ2 25 · SG&A: $4.67BQ2 25Q3 25 · R&D: $2.08BQ3 25 · SG&A: $4.38BQ4 25 · R&D: $2.19BQ4 25 · SG&A: $4.83BQ1 26 · R&D: $2.17BQ1 26 · SG&A: $4.4BQ2 26 · R&D: $2.31BQ2 26 · SG&A: $4.53BQ2 26$7.02B

Source: Yahoo Finance. Quarterly history grows automatically over time as new quarters are published.

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