International Business Machines Cash Flow Statement
NYSE: IBMTechnologyComputer ManufacturingUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
International Business Machines free cash flow
In fiscal 2025, International Business Machines generated $13.19 billion of operating cash flow and spent $1.09 billion on capital expenditures. That left free cash flow of $12.10 billion, a free-cash-flow margin of 17.9% of revenue. Free cash flow was down 2.4% from the prior year's $12.40 billion.
International Business Machines returned $6.25 billion to shareholders through dividends, equal to 52% of free cash flow. Free cash flow covered dividend payments 1.9 times.
Summary generated from market data by MetaCap's automated system. Methodology
International Business Machines cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 10.59B | 6.02B | 7.50B | 1.64B | 5.74B | 5.59B | 9.43B | 8.73B | 5.75B | 11.87B |
| Net Income growth (YoY) | +75.88% | -19.71% | +357.72% | -71.46% | +2.74% | -40.73% | +8.05% | +51.71% | -51.54% | -9.99% |
| Depreciation & Amortization | 2.28B | 2.17B | 2.11B | 2.41B | 3.89B | 4.23B | 4.21B | 3.13B | 3.02B | 2.84B |
| Stock-Based Compensation | 1.72B | 1.31B | 1.13B | 987.00M | 982.00M | 937.00M | 679.00M | 510.00M | 534.00M | 544.00M |
| Change in Working Capital | -3.58B | -553.00M | 1.18B | -255.00M | 1.59B | 5.23B | 66.00M | 554.00M | 1.36B | 895.00M |
| Operating Cash Flow | 13.19B | 13.45B | 13.93B | 10.44B | 12.80B | 18.20B | 14.77B | 15.25B | 16.72B | 17.08B |
| Capital Expenditures | -1.09B | -1.05B | -1.25B | -1.35B | -2.06B | -2.62B | -2.29B | -3.40B | -3.23B | -3.57B |
| Investing Cash Flow | -10.30B | -4.94B | -7.07B | -4.20B | -5.97B | -3.03B | -26.94B | -4.91B | -7.08B | -10.93B |
| Dividends Paid | -6.25B | -6.15B | -6.04B | -5.95B | -5.87B | -5.80B | -5.71B | -5.67B | -5.51B | -5.26B |
| Share Repurchases | — | — | — | — | — | — | -1.36B | -4.44B | -4.34B | -3.50B |
| Debt Issued | 8.39B | 5.71B | 9.59B | 7.80B | 522.00M | 10.50B | 31.82B | 6.89B | 9.64B | 9.13B |
| Debt Repaid | -5.49B | -6.62B | -5.08B | -6.80B | -8.60B | -13.37B | -12.94B | -8.53B | -6.82B | -6.39B |
| Financing Cash Flow | -3.83B | -7.08B | -1.77B | -4.96B | -13.35B | -9.72B | 9.04B | -10.47B | -6.42B | -5.92B |
| Net Change in Cash | -520.00M | 1.07B | 5.10B | 1.03B | -6.72B | 5.36B | -3.29B | -630.00M | 4.16B | 188.00M |
| Free Cash Flow | 12.10B | 12.40B | 12.69B | 9.09B | 10.73B | 15.58B | 12.48B | 11.85B | 13.49B | 13.52B |
This table shows 10 annual periods of International Business Machines's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow IBM's reporting calendar. What is a cash flow statement?