International Business Machines Corp.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $67.50B | $62.80B | $61.90B | $60.50B | $57.30B | $55.20B | $57.70B |
| Software | — | $30.00B | $27.10B | $26.30B | $25.00B | $24.10B | $22.90B | $22.40B |
| Consulting | — | $21.10B | $20.70B | $20.00B | $19.60B | $17.80B | $16.30B | $16.90B |
| Infrastructure | — | $15.70B | $14.00B | $15.40B | $15.70B | $14.20B | $14.50B | $15.80B |
| Financing | — | $700.0M | $700.0M | $100.0M | $200.0M | $800.0M | $1.00B | $1.20B |
| Cost of Revenue | — | $28.24B | $27.20B | $27.56B | $27.84B | $25.87B | $24.31B | $26.18B |
| Gross Profit | — | $39.30B | $35.55B | $34.30B | $32.69B | $31.49B | $30.87B | $31.53B |
| Gross Margin | — | 58.2% | 56.6% | 55.4% | 54.0% | 54.9% | 55.9% | 54.6% |
| Operating Expenses | ||||||||
| Research & Development | — | $8.32B | $7.48B | $6.78B | $6.57B | $6.49B | $6.26B | $5.91B |
| SG&A Expense | — | $20.12B | $19.69B | $19.00B | $18.61B | $18.75B | $20.56B | $18.72B |
| Operating Income | — | $12.26B | $7.51B | $10.30B | $2.37B | $5.99B | $3.86B | $8.55B |
| Operating Margin | — | 18.2% | 12.0% | 16.6% | 3.9% | 10.5% | 7.0% | 14.8% |
| Interest Expense | — | $1.94B | $1.71B | $1.61B | $1.22B | $1.16B | $1.29B | $1.34B |
| Pretax Income | — | $10.33B | $5.80B | $8.69B | $1.16B | $4.84B | $2.57B | $7.21B |
| Income Tax Expense | — | $-242.0M | $-218.0M | $1.18B | $-626.0M | $124.0M | $-1.36B | $60.0M |
| Net Income | — | $10.59B | $6.02B | $7.50B | $1.64B | $5.74B | $5.59B | $9.43B |
| Net Margin | — | 15.7% | 9.6% | 12.1% | 2.7% | 10.0% | 10.1% | 16.3% |
| EPS (Basic) | — | $11.36 | $6.53 | $8.23 | $1.82 | $6.41 | $6.28 | $10.63 |
| EPS (Diluted) | — | $11.17 | $6.43 | $8.14 | $1.80 | $6.35 | $6.23 | $10.56 |
| Shares Outstanding (Basic) | 938.0M | 932.3M | 921.8M | 911.2M | 902.7M | 896.0M | 890.3M | 887.2M |
| Shares Outstanding (Diluted) | 938.0M | 948.7M | 937.2M | 922.1M | 912.3M | 904.6M | 896.6M | 892.8M |
| Dividends Per Share | — | $6.71 | $6.67 | $6.63 | $6.59 | $6.55 | $6.51 | $6.43 |