International Business Machines Financial Ratios
NYSE: IBMTechnologyComputer ManufacturingUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
International Business Machines ratio analysis
International Business Machines earned a net margin of 15.7% in FY 2025, up from 9.6% a year earlier. Gross margin was 58.2% compared with a median of 54.6% over the prior 9 years. Return on equity reached 32.4%, meaning International Business Machines generated 0.32 dollars of profit for every dollar of shareholders' equity.
Debt-to-equity stood at 2.07 versus 2.20 the year before, and the current ratio was 0.96. At the end of FY 2025, IBM traded at 26.1 times earnings; across the 10 fiscal years shown, its year-end P/E ranged from 11.8 to 78.3, with a median of 20.6. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
International Business Machines financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 26.10 | 34.63 | 20.09 | 78.27 | 21.05 | 19.32 | 12.16 | 11.78 | 23.89 | 12.82 |
| Price / sales | 4.02 | 3.27 | 2.41 | 2.10 | 2.09 | 1.94 | 1.97 | 1.29 | 1.73 | 1.90 |
| Price / book | 8.32 | 7.52 | 6.61 | 5.80 | 6.34 | 5.20 | 5.47 | 6.09 | 7.78 | 8.31 |
| Gross margin | 58.2% | 56.7% | 55.4% | 54.0% | 54.9% | 55.9% | 54.6% | 46.4% | 46.7% | 48.2% |
| Net margin | 15.7% | 9.6% | 12.1% | 2.7% | 10.0% | 10.1% | 16.3% | 11.0% | 7.3% | 14.9% |
| Free cash flow margin | 17.9% | 19.8% | 20.5% | 15.0% | 18.7% | 28.2% | 21.6% | 14.9% | 17.1% | 16.9% |
| Return on equity (ROE) | 32.4% | 22.1% | 33.3% | 7.5% | 30.4% | 27.1% | 45.3% | 52.0% | 32.7% | 65.1% |
| Return on assets (ROA) | 7.0% | 4.4% | 5.5% | 1.3% | 4.4% | 3.6% | 6.2% | 7.1% | 4.6% | 10.1% |
| Debt / equity | 2.07 | 2.20 | 2.79 | 2.54 | 3.09 | 3.32 | 3.38 | 2.73 | 2.66 | 2.31 |
| Current ratio | 0.96 | 1.04 | 0.96 | 0.92 | 0.88 | 0.98 | 1.02 | 1.29 | 1.33 | 1.21 |
| Revenue growth | 7.6% | 1.4% | 2.2% | 5.5% | 3.9% | -4.4% | -27.5% | 0.6% | -1.0% | -2.2% |
| EPS growth | 73.7% | -21.0% | 352.2% | -71.7% | 1.9% | -41.0% | 10.9% | 55.0% | -50.4% | -7.7% |