From each company's latest annual SEC filing. Fiscal years can end on different dates.
International Business Machines (IBM) is the larger business by reported revenue: $67.5B in its fiscal year ended Dec 2025, about 5.1× NOW's $13.3B (fiscal year ended Dec 2025). IBM's net margin was 15.7% and NOW's 13.2%. The SEC classifies them differently (Computer & office Equipment; Services-Prepackaged Software); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
| Company fact | IBM | NOW |
|---|---|---|
| Company | International Business Machines Corporation | ServiceNow, Inc. |
| Exchange | NYSE | NYSE |
| Headquarters | Armonk, New York | Santa Clara, California |
| Founded | 1911 | 2004 |
| SEC industry | Computer & office Equipment | Services-Prepackaged Software |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-24 | 10-K · 2026-01-29 |
| Metric | IBM | NOW |
|---|---|---|
| Revenue | $67.5B2025-01-01 to 2025-12-31 · SEC filing | $13.3B2025-01-01 to 2025-12-31 · SEC filing |
| Net income | $10.6B2025-01-01 to 2025-12-31 · SEC filing | $1.7B2025-01-01 to 2025-12-31 · SEC filing |
| Operating cash flow | $13.2B2025-01-01 to 2025-12-31 · SEC filing | $5.4B2025-01-01 to 2025-12-31 · SEC filing |
| Diluted EPS | $11.172025-01-01 to 2025-12-31 · SEC filing | $1.672025-01-01 to 2025-12-31 · SEC filing |
| Net margin | 15.7%2025-01-01 to 2025-12-31 · SEC filing | 13.2%2025-01-01 to 2025-12-31 · SEC filing |
IBM: FY ending 2025-12-31 · NOW: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
IBM provides hybrid-cloud software, consulting, and mainframe systems to large enterprises and governments. Its Red Hat and watsonx platforms anchor a strategy built around open hybrid cloud and enterprise AI.
ServiceNow runs a cloud workflow platform that automates IT, HR, and customer-service processes for large organizations. It has emerged as a prominent vendor of enterprise AI-driven workflow automation.
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
You now know IBM reports about 5.1× NOW's revenue, and IBM keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about “Software growth across Hybrid Cloud (Red Hat), Automation, Data, and Transaction Processing” at IBM and “Subscription revenue growth and remaining performance obligations” at NOW, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchStart with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. Both fiscal years end December 31, so annual reports line up, but check segment definitions before comparing growth or margins.
The current verified House and Senate snapshot contains 52 matched transaction rows for IBM and 37 matched transaction rows for NOW. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
Not necessarily. International Business Machines files as Computer & office Equipment and ServiceNow as Services-Prepackaged Software. The pair is compared because both map to the Artificial intelligence research theme, not because the filings show head-to-head competition.
International Business Machines (IBM) is the larger business by reported revenue: $67.5B in its fiscal year ended Dec 2025, about 5.1× NOW's $13.3B (fiscal year ended Dec 2025). IBM's net margin was 15.7% and NOW's 13.2%. The SEC classifies them differently (Computer & office Equipment; Services-Prepackaged Software); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers International Business Machines Corporation and ServiceNow, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
IBM vs NOW compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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