OakChart

International Business Machines Corp

IBMTechnology·Information Technology Services·USA·Mega·NYSE·Nov 11 • 3:59 PM ET

248.22+3.69 (1.51%)
2026-11-11 23:54 CET
Market cap
231,110.44 USD m
Revenue, TTM
69,868.00 USD m
Net income, TTM
11,171.00 USD m
Free cash flow, TTM
14,656.00 USD m
EPS diluted, TTM
11.72
P/E
21.17
Compare

Price

IBM against its 20, 50 and 200-day averages
2050200miss
200.00250.00300.0033.7M67.4MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26IBMclose 248.2220-day 248.1350-day 237.51200-day 247.25248.2252w high52w low

25.3% under the 52-week high of 332.46 on 2 Jun 2026. 52-week low 199.19 on 23 Jul 2026. Last 15 sessions, 8.3% high to low

Volume 0.65× normal · the line is the 50-bar volume average

Profile

IBM
52-week range, 37% of the way up
199.19332.46

International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other. The Software segment combines hybrid cloud platform and software solutions to help clients become more data-driven, and to automate, secure, and modernize their environments. The Consulting segment focuses on integrating skills on strategy, experience, technology and operations by domain and industry. The Infrastructure segment offers solutions for hybrid cloud and is the foundation of the hybrid cloud stack. Infrastructure is optimized for infusing AI into mission-critical transactions and tightly integrated with IBM Software including Red Hat for accelerated hybrid cloud benefits. The Financing segment refers to the client and commercial financing, facilitating IBM clients' acquisition of IT systems, software, and services. The company was founded by Charles Ranlett Flint and Thomas J. Watson Sr. on June 16, 1911 and is headquartered in Armonk, NY.

IndexDJIA, S&P 500, RUI
Employees286800
IPONov 11, 1915
Beta0.77
ATR, 14d6.91
Rel volume0.65
Short float1.89%
Insider own0.10%
Inst own67.16%

Snapshot

6 groups

Valuation

IndexDJIA, S&P 500, RUI
Market Cap234.60B
Enterprise Value291.30B
Income11.17B
Sales69.87B
Book/sh37.61
Cash/sh11.75
Dividend Est.6.77 (2.73%)
Dividend TTM6.75 (2.72%)
Dividend Ex-DateNov 10, 2026
Dividend Gr. 3/5Y0.60% 0.61%
Payout60.09%
Employees286800
IPONov 11, 1915

Ratios

P/E21.17
Forward P/E18.72
PEG2.41
P/S3.36
P/B6.60
P/C21.12
P/FCF16.01
EV/EBITDA14.57
EV/Sales4.17
Quick Ratio0.77
Current Ratio0.82
Debt/Eq1.89
LT Debt/Eq1.67
Option/ShortYes / Yes

Earnings

EPS (ttm)11.72
EPS next Y13.26
EPS next Q4.63
EPS this Y7.10%
EPS next Y6.84%
EPS next 5Y7.77%
EPS past 3/5Y83.86% 12.36%
Sales past 3/5Y3.72% 4.12%
EPS Y/Y TTM39.80%
Sales Y/Y TTM6.83%
EPS Q/Q24.96%
Sales Q/Q4.73%
EarningsOct 21 AMC
EPS/Sales Surpr.3.15% 1.61%

Ownership

Insider Own0.10%
Insider Trans-2.58%
Inst Own67.16%
Inst Trans1.85%
ROA7.41%
ROE35.18%
ROIC11.77%
Gross Margin57.41%
Oper. Margin21.04%
Profit Margin15.99%
SMA200.04%
SMA504.51%
SMA2000.39%
Trades-

Technical

Shs Outstand945.00M
Shs Float944.20M
Short Float1.89%
Short Ratio3.37
Short Interest17.84M
52W High332.46 -25.34%
52W Low199.19 24.61%
Volatility2.32% 2.98%
ATR (14)6.91
RSI (14)54.82
Beta0.77
Rel Volume0.65
Avg Volume5.29M
Volume3,461,719

Performance

Perf Week-2.40%
Perf Month7.56%
Perf Quarter4.67%
Perf Half Y15.64%
Perf YTD-16.20%
Perf Year-20.88%
Perf 3Y66.57%
Perf 5Y106.39%
Perf 10Y61.14%
Recom2.38
Target Price258.68
Prev Close244.53
Price248.22
Change %1.51%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Oct 09, 2026InitiatedTTruistHold$240-3.3%
Jul 22, 2026InitiatedRRobert W. BairdNeutral$230-7.3%
Jul 15, 2026DowngradeOOppenheimerOutperform → Perform
Jul 14, 2026DowngradeHHSBC SecuritiesHold → Reduce$191-23.1%
Jul 10, 2026InitiatedSSusquehannaNeutral$303+22.1%
Jun 23, 2026UpgradeJJP MorganNeutral → Overweight$291+17.2%
Jun 01, 2026InitiatedBBarclaysOverweight$350+41.0%
Apr 28, 2026UpgradeHHSBC SecuritiesReduce → Hold$231-6.9%
Apr 24, 2026UpgradeDDZ BankHold → Buy$295+18.8%
Apr 10, 2026InitiatedCCitigroupBuy$285+14.8%

Peers

Mkt cap
TickerCompanyMkt cap
ACNAccenture plc149.92B
KDKyndryl Holdings Inc3.73B
CTSHCognizant Technology Solutions Corp28.80B
INFYInfosys Ltd ADR49.92B
ORCLOracle Corp388.19B
GIBCGI Inc16.59B
WITWipro Ltd ADR21.37B
HPEHewlett Packard Enterprise Co66.71B
EPAMEPAM Systems Inc8.31B
LDOSLeidos Holdings Inc16.33B

Insider trading

latest 14 of 19
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Thomas Robert DavidSenior Vice PresidentAug 26 '26Sale230.3225,0005,758,08847,800Aug 28 04:23 PM
Robert ThomasOfficerAug 26 '26Proposed Sale230.3225,0005,758,088Aug 26 04:03 PM
Robinson AnneSenior Vice PresidentJul 01 '26Option Exercise0.007,295016,271Jul 02 04:19 PM
HOWARD MICHELLE JDirectorFeb 25 '26Buy237.835011,891194Feb 25 04:34 PM
Miebach MichaelDirectorFeb 25 '26Buy233.33434101,264434Feb 25 04:32 PM
COHN GARY DVice ChairmanFeb 21 '26Option Exercise0.007,5820111,833Feb 23 09:08 PM
KAVANAUGH JAMES JSr. VP and CFOFeb 21 '26Option Exercise0.009,8320176,834Feb 23 09:06 PM
KRISHNA ARVINDChairman, President & CEOFeb 21 '26Option Exercise0.0016,9030374,708Feb 23 09:05 PM
Fehring Nicolas A.VP, ControllerFeb 21 '26Option Exercise0.001,568017,296Feb 23 09:04 PM
LAMOREAUX NICKLE JACLYNSenior Vice PresidentFeb 21 '26Option Exercise0.004,391057,572Feb 23 09:03 PM
Thomas Robert DavidSenior Vice PresidentFeb 21 '26Option Exercise0.008,414074,149Feb 23 09:01 PM
KAVANAUGH JAMES JSr. VP and CFOFeb 18 '26Option Exercise0.002,7190171,851Feb 19 04:59 PM
KRISHNA ARVINDChairman, President & CEOFeb 18 '26Option Exercise0.005,6640366,300Feb 19 04:58 PM
Robinson AnneSenior Vice PresidentFeb 18 '26Option Exercise0.001,722011,286Feb 19 04:52 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
VOOVanguard S&P 500 ETFAUM: 1054.75B
IVViShares Core S&P 500 ETFAUM: 871.38B
SPYSPDR S&P 500 ETF TrustAUM: 793.23B
VTVVanguard Morningstar Value ETFAUM: 196.23B
XLKState Street Technology Select Sector SPDR ETFAUM: 112.79B
VGTVanguard Information Technology ETFAUM: 138.05B
DIASpdr Dow Jones Industrial Average ETF TrustAUM: 45.55B
VIGVanguard Dividend Appreciation FTFAUM: 117.07B
VYMVanguard High Dividend Yield Indx ETFAUM: 83.15B

News

latest 14 of 100

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-10-212.9502.8602.30017,10316,83121
2026Q22026-07-222.9302.9462.27117,16217,46421
2026Q12026-04-221.9101.8091.27715,91715,63117
2025Q42026-01-284.5204.3095.88019,68619,19018
2025Q32025-10-222.6502.4471.83816,33116,09316
2025Q22025-07-232.8002.6492.31416,97716,58916
2025Q12025-04-231.6001.4241.11614,54114,39016
2024Q42025-01-293.9203.7763.09217,55317,55814
2024Q32024-10-232.3002.225-0.35714,96815,07816
2024Q22024-07-242.4302.1761.96315,77015,62316
2024Q12024-04-241.6801.5961.72014,46214,55115
2023Q42024-01-243.8703.7943.54617,38117,28914
2023Q32023-10-252.2002.1241.84514,75214,72814
2023Q22023-07-192.1802.0141.72215,47515,57615
2023Q12023-04-191.3601.2631.01014,25214,35412
2022Q42023-01-253.6003.5952.96016,69016,15115

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2019FY12.23612.22210.56377,14777,005
2020FY8.2818.0686.23573,62073,946
2021FY7.9309.3776.34857,35070,068
2022FY9.1309.1301.79760,53060,043
2023FY9.6209.5418.13661,86061,778
2024FY10.33010.1986.42762,75362,769
2025FY11.59011.36411.14067,53567,038
2026FY-12.413--70,567
2027FY-13.263--73,317
2028FY-14.505--77,575
2029FY-14.092--81,175
2030FY-12.850--83,336

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-04151420,38920,13020,728
2026Q4S2026-10-31161420,39620,13020,728
2026Q4S2026-10-22171420,40620,13020,728
2026Q4S2026-10-21170120,46020,12120,619
2026Q4S2026-10-15170120,45920,12120,619
2026Q4S2026-10-08170020,47520,12120,713
2026Q4S2026-10-06160020,47620,12120,713
2026Q4S2026-09-27168220,46820,12120,713
2026Q4S2026-07-27168420,46820,12120,713
2026Q4S2026-07-23168420,47420,12120,713
2026Q4S2026-07-21160720,28019,58920,729
2026Q4S2026-07-20150720,28519,58920,729
2026Q4S2026-07-17150720,29719,58920,729
2026Q4S2026-07-16150520,40219,68920,729

Estimate history

EPS, annual6.1369.51910.5636.2356.3481.7978.1366.42711.16611.7248
Period201720182019202020212022202320242025TTM
EPS, quarterly-0.3573.0921.1162.3141.8385.881.2772.2712.297
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual79139795917714755179573516053061860627536753669868
Period201720182019202020212022202320242025TTM
Sales, quarterly149681755414541169771633119686159171716217103
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual922.179892.479887.11892.653898.069906.092915.014926.29936.952945
Period201720182019202020212022202320242025MRQ
Shares, quarterly924.645926.29929.397931.519934.735936.952940942945
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue69,868.0067,536.0062,753.0061,860.0060,530.0057,351.0055,179.0077,147.0079,591.00
Cost of Goods Sold Incl. D&A29,757.0028,669.0027,634.0028,362.0029,228.0026,541.0025,006.0041,762.0043,474.00
Gross Profit40,111.0038,867.0035,119.0033,498.0031,302.0030,810.0030,173.0035,385.0036,117.00
Selling, General and Administrative Excl. Other25,409.0024,761.0024,423.0022,995.0023,537.0023,787.0023,516.0024,874.0023,244.00
Research and Development9,049.008,312.007,479.006,343.006,268.006,216.005,967.005,602.005,027.00
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income14,702.0014,106.0010,696.0010,503.007,765.007,023.006,657.0010,511.0012,873.00
Interest Expense1,654.001,899.001,472.001,458.00873.001,088.001,268.001,022.00686.00
Unusual Expense4,442.002,823.003,496.002,062.001,573.00801.002,553.001,045.00704.00
Net Income Before Taxes10,507.0010,355.005,814.008,706.001,176.004,856.002,585.0010,191.0011,359.00
Income Taxes-652.00-242.00-218.001,176.00-626.00124.00-1,360.00731.002,619.00
Consolidated Net Income11,160.0010,597.006,032.007,530.001,803.004,732.003,945.009,460.008,740.00
Net Income From Continuing Operations11,160.0010,571.006,015.007,514.001,783.004,713.003,932.009,435.008,723.00
Net Income11,171.0010,593.006,023.007,502.001,639.005,743.005,590.009,431.008,728.00
EPS (Recurring)14.9813.259.049.703.006.978.2311.3810.06
EPS (Basic, Before Extraordinaries)11.8911.366.538.231.826.416.2810.639.57
EPS (Diluted)11.7211.176.438.141.806.356.2310.569.52
EBITDA19,999.0019,127.0015,363.0014,899.0012,569.0013,440.0013,352.0016,570.0017,353.00
Non-Operating Income (Expense)1,899.00971.0086.001,723.00-4,143.00-278.00-251.001,747.00-124.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.000.00
Stock Option Compensation Expense1,249.00975.00842.00843.00738.00695.00675.00524.00393.00
Price To Earnings Ratio20.8620.8632.0021.70102.7121.0719.2812.1211.42
Price To Sales Ratio3.004.163.282.442.122.112.051.551.31
Gross Margin57.4157.5555.9654.1551.7153.7254.6845.8745.38
Operating Margin21.0420.8917.0416.9812.8312.2512.0613.6216.17
Net Margin15.9915.689.6012.132.7110.0110.1312.2210.97
Shares Outstanding945.00936.95926.29915.01906.09898.07892.65887.11892.48
Market Capitalization231,110.44231,110.44203,264.71149,340.61127,382.31119,866.29107,137.17113,388.2798,670.94

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue17,103.0017,162.0015,917.0019,686.0016,331.0016,977.0014,541.0017,554.00
Cost of Goods Sold Incl. D&A7,493.007,331.007,046.007,887.007,058.007,091.006,608.007,225.00
Gross Profit9,610.009,831.008,871.0011,799.009,273.009,886.007,933.0010,329.00
Selling, General and Administrative Excl. Other6,089.006,549.006,152.006,619.006,003.006,522.005,784.006,329.00
Research and Development2,378.002,311.002,173.002,187.002,082.002,097.001,950.001,967.00
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income3,521.003,282.002,719.005,180.003,270.003,364.002,149.004,000.00
Interest Expense383.00449.00437.00381.00492.00517.00508.00233.00
Unusual Expense951.00725.001,148.001,618.00974.00-279.00340.001,326.00
Net Income Before Taxes2,497.002,479.001,387.004,144.002,430.002,597.001,158.003,306.00
Income Taxes298.00313.00172.00-1,435.00686.00404.00103.00379.00
Consolidated Net Income2,199.002,166.001,216.005,579.001,744.002,193.001,054.002,927.00
Net Income From Continuing Operations2,199.002,166.001,216.005,579.001,744.002,193.001,054.002,927.00
Net Income2,190.002,165.001,216.005,600.001,744.002,194.001,055.002,914.00
EPS (Recurring)2.992.802.127.072.562.111.374.08
EPS (Basic, Before Extraordinaries)2.322.301.305.981.872.361.143.15
EPS (Diluted)2.302.271.285.881.842.311.123.09
EBITDA4,899.004,631.003,993.006,476.004,553.004,629.003,326.005,113.00
Non-Operating Income (Expense)311.00371.00253.00964.00626.00-530.00-144.00865.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense330.00352.00299.00268.00215.00285.00207.00229.00
Price To Earnings Ratio20.8624.8721.7435.4345.7750.7138.7532.00
Price To Sales Ratio3.003.883.354.184.094.363.743.30
Gross Margin56.1957.2855.7359.9456.7858.2354.5658.84
Operating Margin20.5919.1217.0826.3120.0219.8214.7822.79
Net Margin12.8012.627.6428.4510.6812.927.2616.60
Shares Outstanding945.00942.00940.00936.95934.74931.52929.40926.29
Market Capitalization231,110.44264,305.06227,370.06276,877.85262,837.40273,967.65230,573.47203,264.71

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments14,471.0014,805.0013,462.008,841.007,557.0014,251.009,009.0012,222.0012,842.00
Short Term Receivables18,121.0015,313.0015,068.0015,574.0016,200.0017,753.0024,219.0030,984.0032,101.00
Inventories1,220.001,289.001,161.001,552.001,649.001,812.001,619.001,682.001,583.00
Other Current Assets2,048.002,116.002,219.002,184.003,036.004,331.001,677.001,958.001,389.00
Total Current Assets35,860.0033,523.0031,910.0028,151.0028,442.0038,147.0036,524.0046,846.0047,915.00
Net Property, Plant & Equipment9,028.008,928.008,721.008,212.008,916.009,771.0015,006.0010,792.0011,116.00
Total Investments and Advances651.00484.00195.00180.00246.00367.00316.00573.00879.00
Long-Term Note Receivable7,708.005,353.005,766.005,806.005,606.007,509.008,988.009,507.0010,005.00
Intangible Assets79,108.0071,366.0071,216.0067,133.0068,154.0067,504.0073,457.0039,352.0040,530.00
Deferred Tax Assets8,610.006,978.006,656.006,256.007,370.008,404.005,182.005,216.004,862.00
Other Assets10,915.0010,543.0010,777.0011,506.0013,267.0024,269.0012,713.0011,096.0010,049.00
Total Assets151,880.00137,175.00135,241.00127,243.00132,001.00155,971.00152,186.00123,382.00125,356.00
Short Term Debt Incl. Current Port. of LT Debt7,224.005,857.007,246.005,634.007,761.008,151.0010,177.0010,207.006,987.00
Accounts Payable4,756.004,032.004,132.004,051.003,955.004,033.004,896.006,558.006,451.00
Income Tax Payable2,347.002,033.002,270.002,196.002,289.003,198.002,839.003,046.004,219.00
Other Current Liabilities24,331.0021,221.0020,473.0019,624.0019,614.0024,487.0019,789.0018,416.0019,706.00
Total Current Liabilities38,658.0033,143.0034,121.0031,505.0033,619.0039,869.0037,701.0038,227.0037,363.00
Long Term Debt57,383.0052,539.0052,689.0048,379.0047,379.0056,937.0057,981.0035,605.0039,837.00
Provision for Risks Charges17,143.0018,665.0020,201.0018,585.0023,828.0025,980.0025,419.0024,251.0024,237.00
Deferred Tax Liabilities781.00815.001,146.002,292.003,956.004,958.005,230.003,696.00545.00
Other Liabilities5,174.004,621.004,471.004,461.004,223.007,501.004,870.004,673.005,649.00
Total Liabilities119,139.00109,783.00112,628.00105,222.00113,005.00135,245.00131,201.00106,452.00107,631.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity32,648.0027,306.0022,533.0021,944.0018,901.0020,597.0020,841.0016,796.0017,594.00
Total Shareholders Equity32,648.0027,306.0022,533.0021,944.0018,901.0020,597.0020,841.0016,796.0017,594.00
Accumulated Minority Interest93.0086.0080.0077.0095.00129.00144.00134.00131.00
Total Equity32,741.0027,392.0022,613.0022,021.0018,996.0020,726.0020,985.0016,930.0017,725.00
Total Liabilities & Stockholders Equity151,880.00137,175.00135,241.00127,243.00132,001.00155,971.00152,186.00123,382.00125,356.00
Book Value Per Share34.8429.4824.6324.2221.0523.0723.4918.8219.08
Tangible Book Value Per Share-49.59-47.57-53.20-49.87-54.84-52.55-59.31-25.27-24.87
Full-Time Employees286,800293,400305,300311,300307,600375,300383,800381,100397,800
Price to Book Ratio6.508.316.476.346.355.215.455.776.91
Return on Assets7.314.425.731.383.272.556.857.014.74
Return on Equity35.2624.1433.798.7323.8618.9850.1450.7332.13
Return on Invested Capital11.777.549.972.338.667.2111.9616.6610.02
Quick Ratio0.900.970.900.840.800.910.931.181.24
Current Ratio0.931.010.940.890.850.960.971.231.28

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income11,171.0010,593.006,023.007,502.001,639.005,743.005,590.009,431.008,728.00
Depreciation5,297.005,021.004,667.004,396.004,802.006,417.006,695.006,059.004,480.00
Other Funds (Non Cash)1,851.001,675.003,772.00963.006,759.00675.00866.00-417.00633.00
Funds from Operations17,362.0016,332.0012,132.0011,747.0010,474.0010,834.009,948.0013,546.0014,694.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-1,531.00-3,139.001,313.002,184.00-39.001,962.008,249.001,224.00553.00
Cash from Operating Activities15,831.0013,193.0013,445.0013,931.0010,435.0012,796.0018,197.0014,770.0015,247.00
Capital Expenditures-1,813.00-1,738.00-1,685.00-1,810.00-1,972.00-2,768.00-3,230.00-2,907.00-3,964.00
Net Assets From Acquisitions-11,755.00-8,294.00-3,289.00-5,082.00-2,348.00-3,293.00-336.00-32,630.00-139.00
Sale of Fixed Assets and Businesses93.00120.001,255.00317.001,383.00501.00691.001,613.00248.00
Purchase or Sale of Investments1,351.00-391.00-1,218.00-496.00-1,265.00-414.00-628.00268.00-554.00
Purchase of Investments-5,954.00-10,095.00-7,762.00-11,143.00-5,930.00-3,561.00-6,246.00-3,693.00-7,041.00
Sale Or Maturity of Investments7,305.009,704.006,544.0010,647.004,665.003,147.005,618.003,961.006,487.00
Other Uses0.000.000.000.000.00-1.000.000.00-504.00
Other Sources0.000.000.001.000.000.00475.006,720.000.00
Cash from Investing Activities-12,122.00-10,302.00-4,937.00-7,070.00-4,202.00-5,975.00-3,028.00-26,936.00-4,913.00
Cash Dividends Paid-6,336.00-6,255.00-6,147.00-6,040.00-5,948.00-5,869.00-5,797.00-5,707.00-5,666.00
Change in Capital Stock737.00710.00745.000.000.000.000.00-1,361.00-4,443.00
Repurchase of Common Pref Stock0.000.000.000.000.000.000.00-1,361.00-4,443.00
Sale of Common Pref Stock737.00710.00745.000.000.000.000.000.000.00
Proceedsfrom Stock Options737.00710.00745.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net347.002,873.00-880.004,497.001,221.00-8,115.00-3,714.0016,284.00-301.00
Change in Long Term Debt344.002,902.00-910.004,504.001,004.00-8,075.00-2,861.0018,881.00-1,642.00
Issuance of Long Term Debt9,415.008,391.005,705.009,586.007,804.00522.0010,504.0031,825.006,891.00
Reduction of Long Term Debt-9,071.00-5,489.00-6,615.00-5,082.00-6,800.00-8,597.00-13,365.00-12,944.00-8,533.00
Net Financing Active Other Cash Flow-555.00-1,157.00-797.00-226.00-231.00630.00-210.00-174.00-59.00
Other Financing Activities Uses-1,112.00-1,157.00-797.00-402.00-407.00-319.00-302.00-272.00-170.00
Cash from Financing Activities-5,808.00-3,829.00-7,079.00-1,769.00-4,958.00-13,354.00-9,721.009,042.00-10,469.00
Exchange Rate Effect-220.00418.00-358.009.00-243.00-185.00-87.00-166.00-495.00
Net Change in Cash-2,319.00-520.001,071.005,101.001,032.00-6,718.005,361.00-3,290.00-630.00
Free Cash Flow14,656.0012,102.0012,397.0012,686.009,089.0010,734.0015,579.0012,484.0011,852.00
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow25.2148.0632.9622.6940.9224.8511.5417.6616.84
Deferred Taxes & Investment Tax Credit--957.00-2,330.00-1,114.00-2,726.00-2,001.00-3,203.00-1,527.00853.00

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments11,106.008,177.0011,828.0014,471.0014,885.0015,530.00
Short Term Receivables14,546.0014,607.0014,796.0018,121.0013,140.0013,988.00
Inventories1,945.001,746.001,476.001,220.001,397.001,251.00
Other Current Assets2,416.002,629.002,658.002,048.002,206.002,301.00
Total Current Assets30,015.0027,160.0030,757.0035,860.0031,627.0033,071.00
Net Property, Plant & Equipment9,157.008,804.009,000.009,028.009,074.009,258.00
Total Investments and Advances184.00257.00191.00651.00357.00342.00
Intangible Assets88,519.0088,554.0089,333.0079,108.0079,125.0079,759.00
Deferred Tax Assets8,827.008,709.008,552.008,610.008,505.008,475.00
Other Assets11,465.0011,489.0011,384.0010,915.0011,364.0011,509.00
Total Assets155,011.00152,099.00156,229.00151,880.00146,312.00148,585.00
Short Term Debt Incl. Current Port. of LT Debt7,762.006,545.009,453.007,224.008,749.009,765.00
Accounts Payable4,491.004,395.004,039.004,756.003,867.003,974.00
Income Tax Payable1,867.002,023.002,053.002,347.001,663.001,681.00
Other Current Liabilities22,365.0022,949.0024,556.0024,331.0020,863.0022,306.00
Total Current Liabilities36,485.0035,912.0040,101.0038,658.0035,142.0037,726.00
Long Term Debt59,378.0058,727.0060,349.0057,383.0057,820.0057,954.00
Provision for Risks Charges8,452.008,603.008,763.0017,143.009,735.009,882.00
Deferred Tax Liabilities---781.00--
Other Liabilities14,490.0014,316.0013,962.005,174.0015,625.0015,435.00
Total Liabilities118,805.00117,558.00123,175.00119,139.00118,322.00120,997.00
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.00
Common Equity35,537.0034,452.0032,974.0032,648.0027,905.0027,509.00
Total Shareholders Equity35,537.0034,452.0032,974.0032,648.0027,905.0027,509.00
Accumulated Minority Interest669.0089.0081.0093.0085.0079.00
Total Equity36,206.0034,541.0033,055.0032,741.0027,990.0027,588.00
Total Liabilities & Stockholders Equity155,011.00152,099.00156,230.00151,880.00146,312.00148,585.00
Book Value Per Share37.6136.5735.0834.8429.8529.53
Tangible Book Value Per Share-56.07-57.43-59.96-49.59-54.80-56.09
Full-Time Employees---286,800--
Price to Book Ratio6.508.026.969.929.5510.19
Return on Assets7.417.127.117.315.644.15
Return on Equity35.1834.5535.8635.2630.2522.73
Return on Invested Capital2.312.321.306.222.032.57
Quick Ratio0.770.710.730.900.860.84
Current Ratio0.820.760.770.930.900.88

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income2,190.002,165.001,216.005,600.001,744.002,194.00
Depreciation1,378.001,349.001,274.001,296.001,283.001,265.00
Other Funds (Non Cash)489.00432.00494.00436.00438.00422.00
Funds from Operations4,057.003,946.002,984.006,375.003,465.003,881.00
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital-32.00-1,349.002,185.00-2,335.00-383.00-2,180.00
Cash from Operating Activities4,025.002,597.005,169.004,040.003,082.001,701.00
Capital Expenditures-486.00-383.00-391.00-553.00-417.00-373.00
Net Assets From Acquisitions-884.00-15.00-10,465.00-391.00-58.00-747.00
Sale of Fixed Assets and Businesses58.0023.009.003.007.0037.00
Purchase or Sale of Investments-1,258.00-107.00359.002,357.0030.002,781.00
Purchase of Investments-1,898.00-1,259.00-1,612.00-1,185.00-1,170.00-1,254.00
Sale Or Maturity of Investments640.001,152.001,971.003,542.001,200.004,035.00
Other Uses0.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.00
Cash from Investing Activities-2,569.00-481.00-10,489.001,417.00-438.001,698.00
Cash Dividends Paid-1,596.00-1,590.00-1,576.00-1,574.00-1,569.00-1,563.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock144.00240.00178.00175.00134.00185.00
Repurchase of Common Pref Stock0.000.000.000.000.000.00
Sale of Common Pref Stock144.00240.00178.00175.00134.00185.00
Proceedsfrom Stock Options144.00240.00178.00175.00134.00185.00
Issuance or Reduction of Debt, Net1,861.00-4,213.004,509.00-1,810.00-1,108.00-1,301.00
Change in Long Term Debt1,858.00-4,213.004,509.00-1,810.00-1,108.00-1,301.00
Issuance of Long Term Debt1,978.000.007,437.000.006.007.00
Reduction of Long Term Debt-120.00-4,213.00-2,928.00-1,810.00-1,114.00-1,308.00
Net Financing Active Other Cash Flow198.00-164.00-392.00-197.00-469.00-175.00
Other Financing Activities Uses-359.00-164.00-392.00-197.00-469.00-175.00
Cash from Financing Activities606.00-5,727.002,719.00-3,406.00-3,012.00-2,854.00
Exchange Rate Effect2.00-34.00-177.00-11.00-58.00320.00
Net Change in Cash2,064.00-3,645.00-2,778.002,040.00-426.00865.00
Free Cash Flow3,693.002,368.004,937.003,658.002,827.001,491.00
Price to Free Cash Flow25.2135.8334.8048.2542.8846.28

Revenue breakdown

Automation2024: 6.56B 2025: 7.73B
Consolidation, Policy2024: 956.00M 2025: 800.00M
Data2024: 5.63B 2025: 6.30B
Hybrid Cloud2024: 6.49B 2025: 7.33B
Hybrid Infrastructure2024: 8.91B 2025: 10.62B
Infrastructure Support2024: 5.11B 2025: 5.10B
Intelligent Operations2024: 9.20B 2025: 9.52B
Strategy And Technology2024: 11.49B 2025: 11.54B
Transaction Processing2024: 8.41B 2025: 8.60B
Other Countries2024: 37.61B 2025: 40.64B
United States2024: 25.14B 2025: 26.89B
Consolidation, Policy2024: 243.00M 2025: 63.00M
Consulting2024: 20.69B 2025: 21.06B
Financing2024: 713.00M 2025: 737.00M
Infrastructure2024: 14.02B 2025: 15.72B
Software2024: 27.09B 2025: 29.96B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-301.89%17.8M944.2M5.56M
2026-10-152.11%19.9M944.2M6.66M
2026-09-302.57%24.2M941.2M8.21M
2026-09-152.38%22.4M941.2M8.78M
2026-08-312.34%22.0M941.1M9.87M
2026-08-142.34%22.1M941.0M11.19M
2026-07-312.37%22.3M941.2M11.18M
2026-07-153.52%33.1M938.9M10.47M
2026-06-303.65%34.3M938.9M8.62M
2026-06-153.19%29.9M938.0M7.95M
2026-05-293.25%30.6M938.9M7.00M
2026-05-152.86%26.9M938.9M6.25M
2026-04-302.39%22.5M938.9M6.45M
2026-04-152.37%22.2M937.0M5.95M
2026-03-312.49%23.3M937.0M5.90M
2026-03-132.37%22.2M937.0M5.62M
2026-02-272.28%21.4M937.0M5.11M
2026-02-132.10%19.7M937.0M4.53M
2026-01-302.00%18.7M933.8M4.28M
2026-01-152.13%19.9M934.0M4.69M

Option chain

expiry 2026-11-13
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call120127.1129.35126.435.9330.0095.000.999-0.0280.000
call125122.1124.351225.6381.001450.999-0.0290.000
call130116.7119.35117.015.3531.0058.000.999-0.0290.000
call135112.1115.15112.055.6471.0080.000.999-0.0300.000
call140107.15109.35107.074.8152.001340.999-0.0300.000
call145102.15104.35101.914.5592.0084.000.999-0.0300.000
call15097.1599.3594.924.3111.0026.000.999-0.0310.001
call15591.3595.2090.204.5762.006.000.999-0.0310.001
call16087.1590.2085.204.3213.006.000.999-0.0310.001
call16582.1585.2080.774.0722.006.000.999-0.0320.001
call17077.1579.4075.803.4181.002.000.999-0.0320.001
call17572.1574.4069.083.2003.000.000.999-0.0320.001
call18067.1069.4064.092.9874.000.000.999-0.0320.001
call18561.6565.2059.083.1342.000.000.998-0.0330.001
call19057.1559.4054.102.5730.000.000.993-0.1390.003
call19552.1054.8049.162.54013.000.000.993-0.1380.003
call197.549.6051.9048.162.2722.000.000.992-0.1370.004
call20047.2049.4044.172.17311.000.000.992-0.1360.004
call202.544.5046.9041.182.0751.000.000.992-0.1350.004
call20542.1044.5038.682.0162.000.000.991-0.1340.004
call207.539.3041.9036.201.8792.000.000.991-0.1330.004
call21037.1540.0033.681.9862.000.000.990-0.1320.005
call212.534.2536.9031.211.6851.000.000.990-0.1300.005
call21532.1535.0529.181.7931.001.000.989-0.1290.005
call217.528.8532.6524.301.7170.000.000.988-0.1270.005
call22027.1029.4027.551.3950.000.000.987-0.1250.006
call222.524.6527.2522.031.4000.0040.000.986-0.1240.006
call22522.1524.7019.601.2851.0040.000.980-0.1600.008
call227.519.7022.2519.521.1960.0074.000.967-0.2420.013
call23017.6019.4518.851.0180.0096.000.960-0.2640.015
call232.514.7017.0016.370.9300.0020.000.939-0.3560.021
call23512.2014.5513.210.8386.0018.000.918-0.4130.027
call237.59.8012.1510.880.7530.008.000.881-0.5170.035
call2407.709.858.500.67915221.000.824-0.6470.045
call242.55.907.507.000.47285.0080.000.769-0.6660.054
call2454.404.854.750.4164124450.672-0.7340.064
call247.52.903.253.050.4082673920.543-0.7680.070
call2501.812.031.860.4016249960.407-0.7830.068
call252.50.901.181.040.3963132960.285-0.6870.060
call2550.580.710.570.4151,3484330.217-0.6780.052
call257.50.250.340.280.4089501820.140-0.5090.039
call2600.140.170.170.4101,0109360.093-0.3920.029
call262.50.020.270.110.47512591.000.080-0.3980.026
call2650.040.060.060.4515877690.037-0.2010.014
call267.50.010.120.050.50515470.000.031-0.1920.012
call2700.010.040.020.5081,2231770.015-0.0980.007
call272.50.020.030.020.55663.0013.000.010-0.0700.005
call2750.020.030.020.6021,2583370.009-0.0670.004
call277.50.000.030.010.64929.006.000.008-0.0690.004
call2800.000.030.010.69441514.000.008-0.0700.004
call282.50.000.020.010.70513411.000.005-0.0500.003
call2850.000.170.020.7482901.000.005-0.0510.002
call287.50.001.910.010.79010.000.000.005-0.0510.002
call2900.000.050.010.76415018.000.002-0.0270.001
call292.50.002.130.010.8723.000.000.004-0.0520.002
call2950.000.040.021.0269.000.000.008-0.1010.004
call297.50.002.130.000.9510.000.000.004-0.0530.002
call3000.000.010.010.9001540.000.002-0.0280.001
call302.50.002.130.060.96238.000.000.002-0.0300.001
call3050.002.130.150.99848.000.000.002-0.0300.001
call3100.000.200.701.23911.000.000.007-0.1050.004
call3150.002.130.001.1380.000.000.002-0.0310.001
call3200.002.130.281.2054.000.000.002-0.0310.001
call3250.002.130.011.2711.000.000.002-0.0320.001
put1200.002.130.003.2870.000.00-0.001-0.0340.000
put1250.002.130.003.1120.000.00-0.001-0.0330.000
put1300.002.120.002.9430.000.00-0.001-0.0330.000
put1350.002.120.002.7810.000.00-0.001-0.0330.000
put1400.002.120.002.6240.000.00-0.001-0.0330.000
put1450.002.120.002.4720.000.00-0.001-0.0330.000
put1500.000.400.012.32621.001.00-0.001-0.0330.001
put1550.000.750.062.1830.001.00-0.001-0.0320.001
put1600.002.120.002.0450.000.00-0.001-0.0320.001
put1650.002.120.021.9119.000.00-0.001-0.0320.001
put1700.002.120.021.78111.000.00-0.001-0.0320.001
put1750.002.120.041.65414.000.00-0.001-0.0310.001
put1800.002.130.051.53080.000.00-0.001-0.0310.001
put1850.000.390.481.40833.000.00-0.001-0.0310.001
put1900.002.130.051.5531550.00-0.007-0.1370.003
put1950.002.130.021.41760.000.00-0.007-0.1350.003
put197.50.001.330.051.3505.000.00-0.007-0.1330.004
put2000.001.760.011.2842810.00-0.008-0.1320.004
put202.50.000.750.081.2186.000.00-0.008-0.1310.004
put2050.000.630.231.15246.000.00-0.009-0.1300.004
put207.50.001.150.031.0875.000.00-0.009-0.1280.004
put2100.000.950.031.0232290.00-0.010-0.1270.005
put212.50.000.600.050.95928.000.00-0.010-0.1250.005
put2150.000.630.030.8951050.00-0.011-0.1230.005
put217.50.010.110.050.83142819.00-0.012-0.1220.005
put2200.000.290.050.7012027.00-0.007-0.0680.004
put222.50.000.060.020.70549.008.00-0.014-0.1170.006
put2250.000.070.030.65637729.00-0.019-0.1540.008
put227.50.010.170.020.62611431.00-0.033-0.2350.013
put2300.030.080.040.55946664.00-0.040-0.2570.015
put232.50.050.150.070.52960271.00-0.061-0.3480.021
put2350.070.180.110.474753167-0.082-0.4050.027
put237.50.170.290.210.447414138-0.119-0.5090.035
put2400.360.530.460.434426220-0.176-0.6390.045
put242.50.631.020.720.44041791.00-0.231-0.6580.054
put2451.291.501.400.42445267.00-0.328-0.7260.064
put247.52.062.472.250.39514222.00-0.457-0.7590.070
put2503.104.103.170.43963618.00-0.593-0.7740.068
put252.54.655.858.720.45690.001.00-0.715-0.6780.060
put2556.158.507.200.5943236.00-0.783-0.6680.052
put257.58.7010.6015.800.62328.000.00-0.860-0.4990.039
put26010.8013.1013.530.71867.001.00-0.907-0.3810.029
put262.513.2015.8517.700.86212.000.00-0.920-0.3880.026
put26515.4017.9018.340.84511.000.00-0.963-0.1900.014
put267.518.2020.850.001.0360.000.00-0.968-0.1800.012
put27020.7023.2525.831.0941.000.00-0.985-0.0870.007
put272.523.2025.4028.331.0791.000.00-0.990-0.0590.005
put27525.7027.900.001.1520.000.00-0.991-0.0550.004
put277.528.2030.4033.991.2241.000.00-0.992-0.0560.004
put28030.7033.2533.401.39939.000.00-0.992-0.0570.004
put282.532.8035.4038.971.3632.000.00-0.995-0.0370.003
put28535.2037.9039.781.4302.000.00-0.995-0.0380.002
put287.538.2040.4042.321.4963.000.00-0.995-0.0380.002
put29040.7042.900.001.5600.000.00-0.995-0.0380.002
put292.542.4046.2548.981.8912.000.00-0.996-0.0380.002
put29545.7047.9051.461.6861.000.00-0.996-0.0390.002
put297.548.2050.4052.471.7470.000.00-0.996-0.0390.002
put30050.0553.2555.371.9344.0028.00-0.998-0.0150.001
put302.553.2055.7554.221.9957.0014.00-0.998-0.0150.001
put30554.8558.6556.702.18814.0042.00-0.998-0.0150.001
put31060.2063.2065.772.15617.000.00-0.998-0.0150.001
put31565.7068.2570.752.2897.000.00-0.998-0.0140.001
put32069.8573.2575.442.40114.002.00-0.998-0.0140.001
put32574.9078.2580.412.5107.002.00-0.998-0.0140.001

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-09424B3SEC
2026-11-0225-NSESEC
2026-10-2210-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-218-KCurrent report2026-10-21SEC
2026-10-083Initial statement of beneficial ownership of securities2026-10-01SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-018-KCurrent report2026-10-01SEC
2026-08-284Statement of changes in beneficial ownership of securities2026-08-26SEC
2026-08-284Statement of changes in beneficial ownership of securities2026-08-27SEC
2026-08-26144Filing for proposed sale of securities under Rule 144.SEC
2026-08-148-KCurrent report2026-08-10SEC
2026-08-11424B5SEC
2026-08-10FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-08-10424B3SEC
2026-07-29S-8 POSPost-effective amendment to a S-8 registration statementSEC
2026-07-2310-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-07-228-KCurrent report2026-07-22SEC
2026-07-148-KCurrent report2026-07-14SEC
2026-07-024Statement of changes in beneficial ownership of securities2026-07-01SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-08005.76M1
2026-070000
2026-060000
2026-050000
2026-040000
2026-030000
2026-02113.15K200
2026-01304.00K100
2025-120000
2025-110000

Institutional holders

Manager% owned
BlackRock, Inc.8.17%
VANGUARD CAPITAL MANAGEMENT LLC6.53%
STATE STREET CORP5.96%
VANGUARD PORTFOLIO MANAGEMENT LLC3.02%
GEODE CAPITAL MANAGEMENT, LLC2.54%
MORGAN STANLEY1.86%
Capital World Investors1.72%
BANK OF AMERICA CORP /DE/1.59%
JPMORGAN CHASE & CO1.32%
NORTHERN TRUST CORP1.09%

Funds

Fund% owned
Navigator Tactical Fixed Income Fund10.64%
VANGUARD WELLESLEY INCOME FUND3.59%
PGIM Short-Term Corporate Bond Fund3.19%
PGIM Ultra Short Bond ETF3.18%
VANGUARD TOTAL STOCK MARKET INDEX FUND3.17%
iShares Ultra Short Duration Bond Active ETF2.92%
iShares iBonds Dec 2026 Term Corporate ETF2.77%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND2.66%
VANGUARD 500 INDEX FUND2.59%
PIMCO CommoditiesPLUS Strategy Fund2.49%

OakChart. IBM. Cached 15 minutes.