International Business Machines Corporation
Profit after direct costs
Core business profitability
Bottom line profitability
Top line growth rate
Flow of revenue through cost categories to net income
| Item | Trend | 2021 | 2022 | 2023 | 2024 | 2025 | YoY Change |
|---|---|---|---|---|---|---|---|
Total Revenue | 57.35B | 60.53B | 61.86B | 62.75B | 67.54B | 7.6% | |
| Cost of Revenue | (25.86B) | (27.84B) | (27.56B) | (27.20B) | (28.24B) | 3.8% | |
Gross Profit | 31.49B | 32.69B | 34.30B | 35.55B | 39.30B | 10.5% | |
| Operating Expenses | |||||||
| Research & Development | (6.49B) | (6.57B) | (6.78B) | (7.48B) | (8.32B) | 11.2% | |
| Selling, General & Administrative | (18.75B) | (18.61B) | (17.56B) | (17.91B) | (18.14B) | 1.3% | |
| General & Administrative | (16.11B) | (16.10B) | (16.32B) | (16.74B) | (17.01B) | 1.6% | |
| Selling & Marketing | (2.64B) | (2.51B) | (1.24B) | (1.17B) | (1.13B) | -3.8% | |
| Depreciation & Amortization | (6.42B) | (4.80B) | (4.40B) | (4.67B) | (5.02B) | 7.6% | |
Operating Income (EBIT) | 6.87B | 8.17B | 9.82B | 10.07B | 12.49B | 24.0% | |
| Non-Operating Items | |||||||
| Interest Income | 52.00M | 162.00M | 670.00M | 747.00M | 645.00M | -13.7% | |
| Interest Expense | (1.16B) | (1.22B) | (1.61B) | (1.71B) | (1.94B) | 13.0% | |
| Other Income/Expenses (Net) | -2.03B | -7.02B | -1.13B | -4.28B | -2.16B | -49.4% | |
Income Before Tax | 4.84B | 1.16B | 8.69B | 5.80B | 10.33B | 78.2% | |
| Income Tax Expense | (124.00M) | (626.00M) | (1.18B) | (218.00M) | (242.00M) | 11.0% | |
Net Income | 5.74B | 1.64B | 7.50B | 6.02B | 10.59B | 75.9% | |
| Per Share Metrics | |||||||
| Earnings Per Share (Basic) | $6 | $2 | $8 | $7 | $11 | 74.0% | |
| Weighted Avg Shares Outstanding | 895.99M | 902.66M | 911.21M | 937.20M | 932.30M | -0.5% | |
| Weighted Avg Shares Outstanding (Diluted) | 904.64M | 912.27M | 922.07M | 937.20M | 948.70M | 1.2% | |
EBITDA | 12.41B | 7.17B | 14.69B | 12.18B | 17.28B | 42.0% |
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