International Business Machines Corporation + Follow

Ticker

IBM

ACN

INFY

Headquarter

Armonk ,NY

Dublin

Bengaluru

Hamilton

CEO

Mr. Arvind Krishna

Ms. Julie T. Spellman Sweet J.D.

Mr. Salil Satish Parekh

Mr. Balkrishan Kalra

Industry

Information Technology Services

Stock Price

Market Cap

$205.87B

$221.33B

$93.97B

$7.68B

Employees

Years

2021
2023

2022
2023
2024

2022
2023
2024

2022
2023

Employees

2.00K
2.00K

721.00K
733.00K
774.00K

314.02K
343.23K
317.24K

118.90K
129.10K

Y/Y

15.54%

1.66%

5.59%

20.95%

9.3%

7.57%

8.49%

8.58%

Income Statement

Revenue

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Revenue

$57.35B
$60.53B
$61.86B

$61.59B
$64.11B
$64.90B

$16.31B
$18.21B
$18.56B

$4.37B
$4.48B

Y/Y

22.1%

5.54%

2.2%

21.89%

4.09%

1.22%

20.28%

11.65%

1.92%

8.68%

2.42%

Revenue by Products / Services

Revenue by Geography

Research and Development

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Research and Development

$6.49B
$6.57B
$6.78B

$1.12B
$1.30B
$1.15B

$71.00M
$129.66M
$135.04M

$25.32M
-

Y/Y

2.45%

1.22%

3.17%

0.44%

15.61%

11.41%

44.23%

82.62%

4.15%

12249.76%

100%

Operating Income

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Operating Income

$5.99B
$2.37B
$9.04B

$9.37B
$8.81B
$9.60B

$3.76B
$3.83B
$3.83B

$502.15M
$630.86M

Y/Y

1.13%

60.41%

281.24%

22.9%

5.95%

8.92%

12.93%

1.86%

0.24%

1.35%

25.63%

Tax Rate (%)

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Tax Rate (%)

3.00%
-54.00%
14.00%

24.00%
23.00%
24.00%

26.00%
28.00%
27.00%

24.00%
-5.00%

Y/Y

113.74%

2215.23%

124.99%

5.22%

2.63%

0.6%

2.22%

4.61%

2.17%

120.05%

Net Income

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Net Income

$5.74B
$1.64B
$7.50B

$6.88B
$6.87B
$7.26B

$2.96B
$2.98B
$3.17B

$353.40M
$631.26M

Y/Y

2.72%

71.44%

357.44%

16.43%

0.08%

5.72%

13.39%

0.61%

6.24%

4.34%

78.62%

Assets & Liabilities | Cash Flow

Total Assets

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Total Assets

$132.00B
$127.24B
$135.24B

$47.26B
$51.25B
$55.93B

$15.56B
$15.31B
$16.52B

$4.59B
$4.81B

Y/Y

15.37%

3.6%

6.29%

9.47%

8.42%

9.15%

4.92%

1.56%

7.91%

7.77%

4.73%

Total Liabilities

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Total Liabilities

$113.01B
$105.22B
$112.63B

$24.52B
$24.79B
$26.76B

$5.56B
$6.09B
$5.92B

$2.76B
$2.56B

Y/Y

16.44%

6.89%

7.04%

6.23%

1.1%

7.98%

28.64%

9.48%

2.79%

10.25%

7.43%

Capital Expenditures (Capex)

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Capital Expenditures (Capex)

-$2.38B
-$1.86B
-$1.81B

-$718.00M
-$528.17M
-$516.51M

-$290.00M
-$319.00M
-$266.00M

-$54.39M
-$58.78M

Y/Y

21.73%

21.88%

2.69%

23.76%

26.44%

2.21%

1.75%

10%

16.61%

4.99%

8.07%

Profitability

Operating Income Margin (%)

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Operating Income Margin (%)

10.45%
3.92%
14.62%

15.21%
13.74%
14.79%

23.02%
21.00%
20.66%

11.49%
14.09%

Y/Y

29.81%

62.49%

272.96%

0.86%

9.66%

7.64%

6.12%

8.77%

1.62%

9.17%

22.63%

Net Income Margin (%)

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Net Income Margin (%)

10.01%
2.71%
12.13%

11.17%
10.72%
11.19%

18.17%
16.37%
17.06%

8.08%
14.10%

Y/Y

31.88%

72.93%

347.6%

4.45%

4.03%

4.38%

5.71%

9.91%

4.22%

12.08%

74.5%

EBITDA

2020	11357000000.00
2021	12000000000.00
2022	6853000000.00
2023	14560000000.00

2021	7621529000.00
2022	10554225000.00
2023	10587612000.00
2024	11188334000.00

2021	4053342784.00
2022	4116000000.00
2023	4707334610.00
2024	4206000000.00

2021	684984000.00
2022	639495000.00
2023	769775000.00

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

EBITDA

$12.00B
$6.85B
$14.56B

$10.55B
$10.59B
$11.19B

$4.12B
$4.71B
$4.21B

$639.50M
$769.78M

Y/Y

5.66%

42.89%

112.46%

38.48%

0.32%

5.67%

1.55%

14.37%

10.65%

6.64%

20.37%

Free Cash Flow (FCF)

2020	15155000000.00
2021	10415000000.00
2022	8575000000.00
2023	12121000000.00

2021	8395016000.00
2022	8823131000.00
2023	8996096000.00
2024	8614518000.00

2021	2973000000.00
2022	3055000000.00
2023	2534000000.00
2024	2882000000.00

2021	637033000.00
2022	389281000.00
2023	432035000.00

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Free Cash Flow (FCF)

$10.42B
$8.58B
$12.12B

$8.82B
$9.00B
$8.61B

$3.06B
$2.53B
$2.88B

$389.28M
$432.04M

Y/Y

31.28%

17.67%

41.35%

5.1%

1.96%

4.24%

2.76%

17.05%

13.73%

38.89%

10.98%

Ratios

Return on Equity (ROE)

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Return on Equity (ROE)

30.38%
7.47%
33.29%

31.11%
26.75%
25.68%

29.81%
32.50%
29.99%

19.35%
28.08%

Y/Y

11.94%

75.41%

345.65%

2.84%

14.01%

19.14%

9.02%

7.72%

0.62%

45.12%

Return on Assets (ROA)

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Return on Assets (ROA)

4.35%
1.29%
5.55%

14.55%
13.41%
12.99%

19.05%
19.47%
19.17%

7.70%
13.14%

Y/Y

21.51%

70.34%

330.23%

6.36%

7.84%

3.13%

8.05%

2.2%

1.54%

3.63%

70.65%

Debt to Equity

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Debt to Equity

273.36%
232.18%
249.38%

3.45%
3.26%
3.62%

0.00%
0.00%
0.00%

78.10%
56.35%

Y/Y

8.2%

15.06%

7.41%

16.87%

5.51%

11.04%

10.52%

27.85%

Valuation

Enterprise Value

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Enterprise value

$168.25B
$173.30B
$195.90B

$177.96B
$198.28B
$213.81B

$104.13B
$72.17B
$73.95B

$9.56B
$7.25B

Y/Y

4.95%

13.04%

14.84%

11.41%

7.83%

36.1%

30.7%

2.47%

13.4%

24.14%

Enterprise value to Revenue

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Enterprise value to Revenue

2.93
2.86
3.17

2.89
3.09
3.29

6.38
3.96
3.98

2.19
1.62

Y/Y

34.72%

2.41%

10.61%

30.13%

7.04%

6.53%

13.16%

37.93%

0.54%

20.31%

25.93%

Enterprise value to EBITDA

Years

2021
2022
2023

2022
2023
2024

2022
2023
2024

2022
2023

Enterprise value to EBITDA

14.02
25.29
13.45

16.86
18.73
19.11

22.99
15.41
17.58

14.94
9.42

Y/Y

0.67%

80.37%

46.8%

38.5%

11.06%

2.04%

22.1%

32.99%

14.12%

7.24%

36.98%

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