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International Business Machines (IBM)
NYSE:IBM
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IBM
International Business Machines
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International Business Machines (IBM) Ratios

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International Business Machines Ratios

IBM's free cash flow for Q1 2026 was $0.56. For the 2026 fiscal year, IBM's free cash flow was decreased by $ and operating cash flow was $0.12. See a summary of the company’s cash flow.
Ratios
TTM
Dec 25Dec 24Dec 23Dec 22
Liquidity Ratios
Current Ratio
 0.80 0.93 1.04 0.96 0.92
Quick Ratio
 0.76 0.90 1.00 0.93 0.87
Cash Ratio
 0.27 0.35 0.42 0.38 0.25
Solvency Ratio
 0.12 0.13 0.10 0.11 0.06
Operating Cash Flow Ratio
 0.35 0.34 0.41 0.41 0.33
Short-Term Operating Cash Flow Coverage
 1.48 1.83 2.64 2.17 2.19
Net Current Asset Value
$ -91.26B$ -83.28B$ -75.30B$ -79.72B$ -76.10B
Leverage Ratios
Debt-to-Assets Ratio
 0.45 0.44 0.43 0.44 0.42
Debt-to-Equity Ratio
 2.14 2.06 2.14 2.66 2.46
Debt-to-Capital Ratio
 0.68 0.67 0.68 0.73 0.71
Long-Term Debt-to-Capital Ratio
 0.64 0.64 0.65 0.69 0.68
Financial Leverage Ratio
 4.74 4.65 5.02 6.00 5.80
Debt Service Coverage Ratio
 1.45 1.91 1.82 1.68 1.31
Interest Coverage Ratio
 5.77 5.34 5.88 6.11 6.72
Debt to Market Cap
 0.31 0.23 0.27 0.38 0.40
Interest Debt Per Share
 77.31 74.11 64.14 67.54 61.18
Net Debt to EBITDA
 3.66 3.10 3.65 3.19 6.43
Profitability Margins
Gross Profit Margin
58.97%59.50%56.65%55.45%54.00%
EBIT Margin
18.16%18.16%11.97%16.65%3.92%
EBITDA Margin
23.69%25.59%19.40%23.75%11.85%
Operating Profit Margin
16.36%15.29%16.05%15.88%13.50%
Pretax Profit Margin
15.32%15.29%9.24%14.05%1.91%
Net Profit Margin
15.61%15.69%9.60%12.13%2.71%
Continuous Operations Profit Margin
15.57%15.65%9.59%12.15%2.95%
Net Income Per EBT
101.86%102.57%103.90%86.33%141.87%
EBT Per EBIT
93.67%100.03%57.54%88.48%14.14%
Return on Assets (ROA)
6.88%6.97%4.39%5.55%1.29%
Return on Equity (ROE)
35.54%32.45%22.06%33.29%7.47%
Return on Capital Employed (ROCE)
9.71%9.12%9.68%9.71%8.54%
Return on Invested Capital (ROIC)
8.92%8.57%9.17%7.84%8.06%
Return on Tangible Assets
16.08%14.56%9.15%11.72%2.73%
Earnings Yield
4.94%3.84%2.92%5.03%1.29%
Efficiency Ratios
Receivables Turnover
 4.84 3.83 4.48 4.43 8.64
Payables Turnover
 7.00 5.75 6.75 6.67 6.87
Inventory Turnover
 19.16 22.42 21.10 23.74 17.94
Fixed Asset Turnover
 11.92 7.48 7.03 7.09 7.37
Asset Turnover
 0.44 0.44 0.46 0.46 0.48
Working Capital Turnover Ratio
 -12.55 -92.64 996.08 -34.36 -18.72
Cash Conversion Cycle
 42.37 48.14 44.68 43.00 9.48
Days of Sales Outstanding
 75.45 95.33 81.49 82.35 42.24
Days of Inventory Outstanding
 19.05 16.28 17.30 15.38 20.35
Days of Payables Outstanding
 52.14 63.47 54.10 54.72 53.11
Operating Cycle
 94.50 111.61 98.79 97.72 62.59
Cash Flow Ratios
Operating Cash Flow Per Share
 14.91 14.15 14.35 15.29 11.56
Free Cash Flow Per Share
 13.94 12.42 12.55 13.30 9.38
CapEx Per Share
 0.96 1.73 1.80 1.99 2.18
Free Cash Flow to Operating Cash Flow
 0.94 0.88 0.87 0.87 0.81
Dividend Paid and CapEx Coverage Ratio
 1.95 1.68 1.72 1.77 1.32
Capital Expenditure Coverage Ratio
 15.48 8.16 7.98 7.70 5.29
Operating Cash Flow Coverage Ratio
 0.20 0.20 0.23 0.23 0.19
Operating Cash Flow to Sales Ratio
 0.20 0.20 0.21 0.23 0.17
Free Cash Flow Yield
6.01%4.19%5.71%8.13%6.65%
Valuation Ratios
Price-to-Earnings (P/E) Ratio
 20.24 26.07 34.21 19.87 77.55
Price-to-Sales (P/S) Ratio
 3.16 4.09 3.28 2.41 2.10
Price-to-Book (P/B) Ratio
 6.60 8.46 7.54 6.61 5.80
Price-to-Free Cash Flow (P/FCF) Ratio
 16.63 23.86 17.52 12.30 15.03
Price-to-Operating Cash Flow Ratio
 15.56 20.93 15.32 10.70 12.19
Price-to-Earnings Growth (PEG) Ratio
 0.21 0.35 -1.66 0.06 -1.08
Price-to-Fair Value
 6.60 8.46 7.54 6.61 5.80
Enterprise Value Multiple
 16.99 19.07 20.57 13.33 24.16
Enterprise Value
 277.39B 329.67B 250.47B 195.90B 173.30B
EV to EBITDA
 16.99 19.07 20.57 13.33 24.16
EV to Sales
 4.03 4.88 3.99 3.17 2.86
EV to Free Cash Flow
 21.20 28.48 21.30 16.16 20.48
EV to Operating Cash Flow
 19.83 24.99 18.63 14.06 16.61
Tangible Book Value Per Share
 -59.97 -49.74 -46.92 -53.34 -49.98
Shareholders’ Equity Per Share
 35.13 35.02 29.14 24.73 24.31
Tax and Other Ratios
Effective Tax Rate
 -0.02 -0.02 -0.04 0.14 -0.54
Revenue Per Share
 73.43 72.44 66.96 67.89 67.06
Net Income Per Share
 11.46 11.36 6.43 8.23 1.82
Tax Burden
 1.02 1.03 1.04 0.86 1.42
Interest Burden
 0.84 0.84 0.77 0.84 0.49
Research & Development to Revenue
 0.12 0.12 0.12 0.11 0.11
SG&A to Revenue
 0.29 0.32 0.29 0.26 0.27
Stock-Based Compensation to Revenue
 <0.01 0.00 0.02 0.02 0.02
Income Quality
 2.44 1.25 2.23 1.86 6.37
Currency in USD