IBM (IBM): financials, SEC filings and peers
IBM (IBM) is an it consulting & other services company in the Information Technology sector of the S&P 500, headquartered in Armonk, New York.
It was founded in 1911 and joined the S&P 500 on March 4, 1957.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Computer & office Equipment”.
IBM at a glance
- Revenue (12 months)
- $69.9B
- Revenue growth
- +6.8%
- Operating margin
- 17.8%
- Net income (12 months)
- $11.2B
- Free cash flow (12 months)
- $14.7B
- Cash
- $9.2B
- Debt
- $70.8B
- Diluted EPS (12 months)
- $11.75
Twelve months to September 30, 2026, from the 10-Q filed October 22, 2026.
Latest twelve months
Over the twelve months to September 30, 2026, IBM reported revenue of $69.9 billion, about the same as a year earlier (+6.8%).
Its operating margin was 17.8%: for every $100 of sales, about $18 was left as operating profit.
Net income was $11.2 billion (16.0% of revenue), 41.3% higher than a year earlier.
Operating cash flow was $15.8 billion and capital spending $1.2 billion, leaving free cash flow of $14.7 billion (21.0% of revenue).
At the end of the period it held $9.2 billion in cash and $70.8 billion in debt, a net debt position of $61.6 billion.
Five-year trend
- Revenue went from $55.2 billion in fiscal 2020 to $67.5 billion in fiscal 2025, about 4.1% a year.
- Revenue has grown for 5 fiscal years in a row.
- Free cash flow was positive in each of the last 6 fiscal years.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $57.4B | $60.5B | $61.9B | $62.8B | $67.5B |
| Revenue growth | 3.9% | 5.5% | 2.2% | 1.4% | 7.6% |
| Operating margin | — | — | — | — | — |
| Net income | $5.7B | $1.6B | $7.5B | $6.0B | $10.6B |
| Free cash flow | $10.7B | $9.1B | $12.7B | $12.4B | $12.1B |
| Diluted EPS | $6.35 | $1.80 | $8.14 | $6.43 | $11.17 |
Fiscal years as reported in IBM’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Recent SEC filings
- 10-Q filed October 22, 2026 — quarterly report
- 8-K filed October 21, 2026 — Earnings results
- 8-K filed October 1, 2026 — Executive or director change; Bylaw or fiscal-year change
- 8-K filed August 14, 2026
- 10-Q filed July 23, 2026 — quarterly report
- 8-K filed July 22, 2026 — Earnings results
- 8-K filed July 14, 2026 — Earnings results; Regulation FD disclosure
- 8-K filed June 23, 2026 — Material agreement; New debt obligation
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Questions about IBM
Is IBM's revenue growing?
Yes. Revenue for the twelve months to September 30, 2026 was $69.9 billion, up 6.8% from a year earlier, according to its SEC filings.
Is IBM profitable?
Yes. It earned $11.2 billion in net income over the twelve months to September 30, 2026, a net margin of 16.0%.
Does IBM have more cash or more debt?
At September 30, 2026 it had $9.2 billion in cash and $70.8 billion in debt, so more debt than cash.
When did IBM last file financial results?
Its latest quarterly report (10-Q) was filed with the SEC on October 22, 2026.
Which companies are similar to IBM?
In the S&P 500, IBM is grouped in IT Consulting & Other Services within the Information Technology sector. Accenture (ACN), Cognizant (CTSH), Gartner (IT) are in the same group.
Understand the numbers
Source: IBM’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved November 11, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.