International Business Machines Corp (IBM)
Fair ValueFundamental
61
Price
$253.56
Market Cap
$236.91B
Part 1 · What the company is worth
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.
No editorial profile for this company yet
Direct competitors
Who this company fights with for the same customers
Generated with artificial intelligence on September 18, 2026, shared with all users
Microsoft competes with IBM's Software segment across hybrid-cloud platforms, data and automation software and enterprise AI assistants, chasing the same IT budgets inside large corporate data centres.
Oracle is a principal competitor of IBM's Software segment in databases, middleware and enterprise applications, and increasingly in the cloud infrastructure those workloads run on.
HPE is a principal competitor of IBM's Infrastructure segment, selling enterprise servers, storage and hybrid-cloud hardware to the same corporate data-centre buyers.
IBM names Accenture first among the broad-based rivals of its Consulting segment: both sell systems integration, application management and large digital-transformation programmes to the same global enterprise and public-sector clients.
Infosys is one of the India-based service providers IBM cites as Consulting competitors: it bids for the same application development, managed services and outsourcing contracts, typically on price and delivery scale.
Capgemini is named by IBM among its Consulting rivals and competes head-on for European enterprise IT services and systems-integration mandates.
Balance Sheet & Liquidity
Revenue
$69.10B
Trailing 12 months (through 6/30/2026)
Net Income
$10.72B
Trailing 12 months (through 6/30/2026)
Free Cash Flow
$12.10B
Total Equity
$32.65B
Total Liabilities
$119.14B
Current Ratio
0.79
Interest Coverage
-
Debt/EBITDA
4.31
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$299.52
Current Price
$253.56
Margin of Safety
+15.3%
Fair Value Range
$194.69 - $404.36
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
22.46
ROE
32.4%
P/B Ratio
6.93
P/FCF
17.32
Gross Margin
58.1%
ROIC
-
Profitability Radar
Value Creation (Economic Moat)
ROIC
-
WACC
7.3%
ROIC − WACC
-
Fundamental Analysis Criteria
Passed (15)
- EPS shows upward trend
- Gross margin 58.1%
- P/FCF 17.32
- Debt/equity ratio
- Positive free cash flow
- CapEx intensity
- Current ratio
- Debt/EBITDA
- Return on tangible assets
- ROE 33.5%
- PEG ratio 1.74
- Earnings quality (operating cash flow / net income) 1.39
- Share dilution 1.2%
- Net margin trend 15.5% vs 9.1%
- Piotroski F-Score 6/9
Failed (8)
- EPS CAGR 2.51%
- Price CAGR 3.69%
- P/B ratio 6.93
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Fairly Valued)
- Revenue growth 5Y 4.1%
- Earnings surprise, average 2.1%
Unavailable (4)
- ROIC –
- Dividend payout –
- Operating margin –
- Interest coverage
Piotroski F-Score
Mixed signals: some areas need attention
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Share count is stable
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Mr. Arvind Krishna | CEO, President & Chairman | 62 |
| Mr. James J. Kavanaugh | CFO and Senior VP of Finance & Operations | 58 |
| Ms. Anne E. Robinson | Senior VP & Chief Legal Officer | 54 |
| Mr. Robert D. Thomas | Senior VP of IBM Software & Chief Commercial Officer | 76 |
| Mr. Gary D. Cohn | Executive Vice Chairman | 64 |
| Olympia McNerney | Global Head of Investor Relations | - |
| Ms. Nickle Jaclyn LaMoreaux | Senior VP & Chief Human Resources Officer | 45 |
| Dr. Bernard S. Meyerson Ph.D. | Chief Innovation Officer Emeritus | - |
| Mr. Alexander Franz Stern | Senior Vice President of Strategy and Mergers & Acquisitions | 59 |
| Mr. Kirill Korniliev | VP of Sales and Head of The Industry Solutions Area In Central & Eastern Europe | - |
Audit Risk
8
Board Risk
7
Compensation Risk
3
Shareholder Rights Risk
4
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-24
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-10-22
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-10-21
via SEC EDGAR
Income History
via SEC EDGAR
Part 2 · The price and its context
This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Market Reaction Profile
How much IBM moves, measured on its daily prices.
More volatile than 85% of the tracked stocks (90-day volatility).
- Volatility 30d
- 29.9%
- Volatility 90d
- 59.8%
- Beta vs S&P 500 (1y)
- 0.88Correlation 0.23
- Max drawdown (12m)
- -37.5%
- ATR (14d, % of price)
- 2.97%
Earnings reactions
How IBM moved around its past quarterly results.
Next earnings release
No upcoming release on the calendar.
What usually happens
- Over the last 12 releases the stock moved a median of 6.4% the next day, up or down.
- Next-day moves: up 6, down 6 (out of 12).
- Of the 4 releases that beat estimates, the stock fell the next day after 2.
Release history
| Date | When | EPS est. | EPS actual | Surprise | Gap | 1 day | 5 days |
|---|---|---|---|---|---|---|---|
| Oct 21, 2026 | After the close | 2.87 | 2.95 | +2.7% | -4.1% | +0.3% | n/a |
| Jul 22, 2026 | After the close | 3.00 | 2.93 | -2.3% | -1.5% | +0.4% | +10.0% |
| Apr 22, 2026 | After the close | 1.82 | 1.91 | +4.7% | -7.8% | -8.3% | -9.8% |
| Jan 28, 2026 | After the close | 4.36 | 4.52 | +3.6% | +8.1% | +5.1% | -1.7% |
| Oct 22, 2025 | After the close | 2.47 | 2.65 | +7.3% | -7.8% | -0.9% | +7.2% |
| Jul 23, 2025 | After the close | n/a | n/a | n/a | -7.4% | -7.6% | -7.7% |
| Apr 23, 2025 | After the close | n/a | n/a | n/a | -5.8% | -6.6% | -1.5% |
| Jan 29, 2025 | After the close | n/a | n/a | n/a | +9.3% | +13.0% | +15.2% |
| Oct 23, 2024 | After the close | n/a | n/a | n/a | -5.1% | -6.2% | -12.0% |
| Jul 24, 2024 | After the close | n/a | n/a | n/a | +1.5% | +4.3% | +4.4% |
| Apr 24, 2024 | After the close | n/a | n/a | n/a | -8.6% | -8.3% | -10.7% |
| Jan 24, 2024 | After the close | n/a | n/a | n/a | +6.3% | +9.5% | +5.6% |
Release dates from SEC 8-K filings.
Updated 10/24/2026
Historical statistics for educational purposes only. They are not forecasts and not investment advice.
Price reaction to the news
Latest news on IBM and what the price did next.
- 10/22/2026NegativeIBM, vendite sul titolo all'indomani della trimestrale
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 10/19/2026NegativeAnteprima utili IBM: opzioni scontano mossa a $215 o $240
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 10/1/2026PositiveLe azioni IBM guadagnano grazie ad Accenture
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 9/25/2026PositiveIBM Connects Banks To Swift’s Blockchain Ledger For Tokenized Deposits
- +1 day
- -1.4%
- +3 days
- -1.3%
- 9/24/2026PositiveIBM opens beta Swift ledger link for 24/7 tokenized deposits
- +1 day
- -2.4%
- +3 days
- -4.9%
- 9/8/2026PositiveIs IBM’s selloff an opportunity? Here’s one case for the beaten-down stock.
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 8/3/2026NegativeHeadline no longer in the latest news feed
- +1 day
- -0.2%
- +3 days
- +2.4%
- 7/23/2026NegativeHeadline no longer in the latest news feed
Published while the US market was open: the move of that day cannot be split into before and after the news, so no figure is shown.
- 7/22/2026PositiveHeadline no longer in the latest news feed
- +1 day
- +1.7%
- +3 days
- +6.2%
Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.
Latest News
Recent headlines for IBM.
- 2d agoNEGATIVEIBM, vendite sul titolo all'indomani della trimestrale
International Business Machines (IBM) experienced a sell-off in its stock following the release of its third-quarter earnings report. While specific revenue figures for the consulting sector were not detailed in the provided snippet, the market reaction suggests investor disappointment. This downturn indicates potential concerns regarding the company's performance or future outlook, prompting a reassessment of its valuation by market participants. Investors will be closely monitoring subsequent analyst reports and company guidance for further clarity on the underlying issues.
- 5d agoNEGATIVEAnteprima utili IBM: opzioni scontano mossa a $215 o $240
International Business Machines (IBM) is set to release its earnings report, with market participants anticipating significant price movements. The stock experienced a severe decline following its previous quarterly results, which missed expectations and led to a drop to $211 and subsequently $197. The company cited persistent pressure on demand for its products, particularly software, where revenue growth was only 5% to $7.8 billion. Investors will be closely watching the upcoming report for signs of demand recovery and future growth prospects, as the previous earnings report significantly impacted Wall Street's sentiment.
- 23d agoPOSITIVELe azioni IBM guadagnano grazie ad Accenture
IBM shares saw a significant uptick, climbing as much as 5% on Thursday, buoyed by the strong performance of Accenture. Accenture's impressive quarterly results, with revenues of $9.28 billion exceeding analyst expectations of $8.86 billion, and an upward revision of its full-year forecast, have positively impacted sentiment across the IT consulting sector. This positive spillover effect, coupled with IBM's own announcement of a self-hosted distribution option for its IBM Bob software agent platform, suggests renewed investor confidence in IBM's growth prospects and its position within the resilient IT services market.
- 29d agoPOSITIVEIBM Connects Banks To Swift’s Blockchain Ledger For Tokenized Deposits
IBM has integrated its Digital Asset Haven with Swift's blockchain-based shared ledger, enabling financial institutions to conduct tokenized deposit transactions using existing ISO 20022 payment messages. This beta integration allows banks to leverage familiar messaging formats, reducing a key obstacle to blockchain adoption. Swift's ledger, already being tested by 17 institutions, facilitates 24/7 transactions for bank-issued tokenized deposits. IBM is also offering an on-premises version of Digital Asset Haven for enhanced control. This development positions tokenized deposits as a viable, operationally familiar blockchain solution for banks, potentially driving significant adoption.
- 9/24/2026POSITIVEIBM opens beta Swift ledger link for 24/7 tokenized deposits
IBM has launched a beta program for its Swift ledger link, enabling banks to execute tokenized deposit transfers around the clock. This new functionality integrates seamlessly with existing payment messages and compliance frameworks, leveraging SWIFT's established infrastructure. The innovation aims to streamline cross-border transactions and enhance liquidity management for financial institutions. For investors, this development signals IBM's continued push into blockchain and distributed ledger technology within the financial sector, potentially opening new revenue streams and solidifying its position as a key technology provider for banks.
- 9/8/2026POSITIVEIs IBM’s selloff an opportunity? Here’s one case for the beaten-down stock.
An analyst from Evercore ISI suggests that the current selloff in IBM stock presents a buying opportunity, as investors are effectively gaining exposure to the company's quantum computing initiatives at no additional cost. This perspective highlights the potential undervaluation of IBM's advanced technology segments, which could drive future growth and shareholder value. The analyst's view implies that the market may be overlooking the long-term strategic importance and potential profitability of IBM's quantum computing research and development efforts, making the stock attractive for investors seeking growth at a discount.
- 8/10/2026NEUTRALIBM Turns to Canadian Bond Market for First Time Since 2012
International Business Machines Corp. has tapped the Canadian bond market for the first time since 2012, participating in a record year for foreign debt issuance in Canada. This move indicates IBM's strategy to diversify its funding sources and potentially leverage favorable borrowing conditions in the Canadian market. While the issuance itself is a routine corporate finance activity, it signals IBM's ongoing financial management and operational scale. Investors will monitor the terms of the debt and its impact on IBM's capital structure and cost of borrowing.