Inside the research
International Business Machines Corporation
IBM Research profile · latest available data
Price overview
$225.51
▼ -1.55 (-0.7%)
| 52w hi | $326.89 |
|---|---|
| 52w lo | $204.30 |
| Vol | 4.14M |
| As of | 25 Sep 2026 |
The Verdict
Our score +0.15
| Short | -0.24 |
|---|---|
| Medium | +0.41 |
| Long | +0.39 |
computed 2026-09-27
Key fundamentals
International Business Machines Corporation
Technology · Information Technology Services
| Market cap | $212.46B |
|---|---|
| Enterprise value | $269.69B |
| Trailing P/E | 20.05x |
| Forward P/E | 17.15x |
| EV / EBITDA | 16.37x |
| P / S (ttm) | 3.07x |
| Profit margin | 15.5% |
| Return on equity | 34.5% |
| Revenue growth | +1.1% |
| Earnings growth | -1.8% |
| Debt / equity | 188.97 |
Layer Breakdown
| Layer | Raw | Contribution |
|---|---|---|
| Fundamental | +0.18 | |
| Sector | +0.19 | |
| Technical | -0.09 | |
| Earnings | +0.00 | |
| Sentiment | +0.00 |
macro × 1.00 · 2026-09-27
Business overview
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers hybrid cloud and AI platforms that allow clients to realize their digital and AI transformations across the applications, data, and environments in which they operate. The Consulting segment delivers strategy and technology services and intelligent operations, providing business transformation, technology implementation, managed services, application modernization, and AI-powered solutions. The Infrastructure segment provides on-premises and cloud-based server, and storage solutions, as well as life-cycle services for hybrid cloud infrastructure deployment. The Financing segment offers client and commercial financing, and facilitates IBM clients' acquisition of hardware, software, and services. It operates a data streaming platform. The company has strategic partnerships with various companies, including hyperscalers, service providers, global system integrators, and software and hardware vendors that include Adobe, Amazon Web Services, Microsoft, Oracle, Salesforce, Samsung Electronics and SAP, and others. It also has a strategic collaboration with Arm Holdings plc for the development of new dual-architecture hardware that helps enterprises run future AI and data intensive workloads; strategic partnership with three.ws to advance ai-powered 3d agent technology; and collaboration with Lightwell to help strengthen open source software supply chain. Additionally, it offers operational resilience, logistics, and future-ready technology to the UK Ministry of Defence through Team ORION. The company was formerly known as Computing-Tabulating-Recording Co. and changed its name to International Business Machines Corporation in 1924. International Business Machines Corporation was incorporated in 1911 and is headquartered in Armonk, New York.
Risk Metrics
| Beta vs SPX | 0.78 |
|---|---|
| Corr SPX | 0.31 |
| Annual vol | 40.3% |
| Annual ret | +10.2% |
| Sharpe | 0.25 |
| Max DD | -37.5% |
Window: 504 trading days (504 obs)
Analyst Coverage
| Mean PT | $278.18 |
|---|---|
| High / Low | $335.00 / $195.00 |
| Median | $282.50 |
| Analysts | 20 |
| Strong Buy | 2 | |
|---|---|---|
| Buy | 10 | |
| Hold | 8 | |
| Sell | 0 | |
| Strong Sell | 1 |
Recent rating actions
| 2026-05-06 | Wedbush | → Outperform |
| 2026-05-06 | RBC Capital | → Outperform |
| 2026-04-28 | HSBC | → Hold |
| 2026-04-23 | Wedbush | → Outperform |
| 2026-04-23 | Morgan Stanley | → Equal-Weight |
| 2026-04-23 | Evercore ISI Group | → Outperform |
Officers & Board
| Director | Al Zollar since 2021 |
|---|---|
| Director | Arvind Krishna since 2021 |
| Director | Thomas Buberl since 2020 |
| CEO | Arvind Krishna since 2020 |
| Director | F. William McNabb III since 2019 |
| Director | Martha Pollack since 2019 |
| Director | Michelle J. Howard since 2019 |
| Director | Rick Waddell since 2017 |
| Director | Joe Swedish since 2017 |
| Director | Peter Voser since 2015 |
| Chair | Ginni Rometty since 2014 |
| Director | Alex Gorsky since 2014 |
| Director | David Farr since 2012 |
| Director | Andrew Liveris since 2010 |
| Founder | Thomas John Watson, Sr. current |
Material Events
| Date | Event | 8-K |
|---|---|---|
| 2026-08-14 | Exhibits | read |
| 2026-07-22 | Earnings Release, Exhibits | read |
| 2026-07-14 | Earnings Release, Reg FD Disclosure… | read |
| 2026-06-23 | Material Agreement, Material Obligation… | read |
| 2026-05-28 | Reg FD Disclosure | read |
| 2026-05-01 | Officer / Director Change, Bylaws Amendment… | read |
| 2026-04-22 | Earnings Release, Exhibits | read |
| 2026-03-03 | Bylaws Amendment, Exhibits | read |
| 2026-02-02 | Exhibits | read |
| 2026-01-30 | Officer / Director Change, Exhibits | read |
| 2026-01-28 | Earnings Release, Exhibits | read |
| 2025-10-23 | Reg FD Disclosure, Exhibits | read |
Insider Trades
| Date | Insider | Role | Action | Shares | Value |
|---|---|---|---|---|---|
| 2026-07-01 | Robinson Anne | Officer, Senior Vice Pres | Option exercise | 5.88K | — |
| 2026-07-01 | Robinson Anne | Officer, Senior Vice Pres | Withheld for tax | 3.25K | $933.00K |
| 2026-07-01 | Robinson Anne | Officer, Senior Vice Pres | Option exercise | 1.41K | — |
| 2026-07-01 | Robinson Anne | Officer, Senior Vice Pres | Withheld for tax | 781 | $223.93K |
Flow & Concentration
| Insider 180d net | $0 |
|---|---|
| Insider buys / sells | 0 / 0 |
| Insider bias | Neutral |
| 13F holders | 0 |
| Top-5 share | 0.0% |
| HHI | 0 (—) |
Dividends
| Yield (TTM) | 2.24% |
|---|---|
| $ / share (TTM) | $5.05 |
| 5y CAGR | +1.5% |
Annual dividend per share
| 2021 | $6.33 |
|---|---|
| 2022 | $6.59 |
| 2023 | $6.63 |
| 2024 | $6.67 |
| 2025 | $6.71 |
| 2026 | $3.37 |
Federal Contracts
| Amount | Agency | Description |
|---|---|---|
| $849.04M | Department of Defense | NAVY ENTERPRISE RESOURCE PLANNING (ERP) TECHNICAL SUPPORT SERVICES (NETSS). |
| $621.72M | Department of Veterans Affairs | THIS REQUIREMENT IS FOR THE CREATION, MAINTENANCE, ENFORCEMENT, ANALYSIS AND UPD |
| $525.45M | Social Security Administration | THE GOVERNMENT INTENDS TO ESTABLISH A SINGLE-AWARD DELIVERY ORDER BASE PLUS FOUR |
| $376.28M | Department of Homeland Security | USCIS TRANSFORMATION PROGRAM SOLUTIONS ARCHITECT (SA) |
| $357.89M | Department of Veterans Affairs | BENEFITS TRANSFORMATION PLATFORM |
| $315.49M | Department of Defense | IGF::OT::IGF GENERAL FUND ENTERPRISE SYSTEM (GFEBS) SUSTAINMENT AWARD |
| $310.38M | Department of Veterans Affairs | SUSTAINMENT, ENHANCEMENT AND TRANSITION SUPPORT OF VAS ENTERPRISE CORE HR SOLUTI |
| $226.73M | General Services Administration | HUMAN RESOURCE INFORMATION SYSTEM (HRIS). IGF::OT::IGF |
SEC Filings
The Long Run
FY 2009–2025 · 17 years
| Line | Latest | CAGR | Trend |
|---|---|---|---|
| Revenue | $61.86B | -3.2% | |
| Gross profit | $35.55B | -1.0% | |
| Net income | $10.59B | -2.7% | |
| Cash from ops | $13.19B | -4.4% |
Indices
Recent Sessions
| Date | Open | High | Low | Close | Vol |
|---|---|---|---|---|---|
| Sep 25 | $226.15 | $228.99 | $225.19 | $225.51 | 4.14M |
| Sep 24 | $232.00 | $232.62 | $226.01 | $227.06 | 4.14M |
| Sep 23 | $233.47 | $237.86 | $232.53 | $232.76 | 4.54M |
| Sep 22 | $234.47 | $236.20 | $230.08 | $231.38 | 4.80M |
| Sep 21 | $231.99 | $234.70 | $228.35 | $231.93 | 8.20M |
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