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IBM provides hybrid-cloud software, consulting, and mainframe systems to large enterprises and governments.
For the fiscal year ended December 31, 2025, International Business Machines Corporation reported revenue of $67.5B and net income of $10.6B, with operating cash flow of $13.2B. Source: Form 10-K filed February 24, 2026
Reported SEC XBRL figures. Each metric’s period and original filing are listed below.
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Its Red Hat and watsonx platforms anchor a strategy built around open hybrid cloud and enterprise AI.
Reported figures from International Business Machines Corporation's filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | $67.5B | 2025-01-01 – 2025-12-31 | SEC filing |
| Net income | $10.6B | 2025-01-01 – 2025-12-31 | SEC filing |
| Operating cash flow | $13.2B | 2025-01-01 – 2025-12-31 | SEC filing |
| Diluted EPS | $11.17 | 2025-01-01 – 2025-12-31 | SEC filing |
| Net margin | 15.7% | 2025-01-01 – 2025-12-31 | SEC filing |
| Shares outstanding | 938M | As of 2026-02-10 | SEC filing |
Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.
Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.
For International Business Machines Corporation, the most important recurring operating and market variables are:
Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.
The 2025 Annual Report, incorporated by reference into the 10-K, shows Software revenue of $30.0 billion, up 10.6%, with Hybrid Cloud at $7.3 billion, Automation at $7.7 billion, Data at $6.3 billion, and Transaction Processing at $8.6 billion. Compare this with Consulting revenue growth of 1.8% and Infrastructure growth of 12.1% driven by the z17.
Consulting signings fell 13.3% to $21.8 billion in 2025 against a strong 2024, while backlog ended the year at $31.9 billion and trailing book-to-bill was 1.03. Management attributes the softness to clients prioritizing cost efficiency, so watch whether generative AI engagements offset the decline.
Debt rose $6.3 billion to $61.3 billion at year-end 2025, and investing cash outflows of $10.3 billion were driven mainly by HashiCorp, with Confluent announced in December 2025. Free cash flow was $14.7 billion against $6.3 billion of dividends; check whether goodwill and intangibles growth is matched by segment profit.
Revenue was $67.5 billion and net income $10.6 billion in 2025, or $11.17 per diluted share, with revenue up 7.6% as reported and 6.1% adjusted for currency. Because Items 1 and 7 point to Annual Report pages, read Exhibit 13 for segment margins and the currency effects that flatter the headline growth rate.
Operating cash flow was $13.2B, 1.25 times net income of $10.6B, for the fiscal year ended December 31, 2025.
Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.
Net income was 15.7% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.
Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.
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| Politician | Trade date | Type | Owner | Amount | Source |
|---|---|---|---|---|---|
| Maria Salazar | 2026-08-24 | Sale | Self | $1,001 - $15,000 | Filing #20035411 |
| Maria Salazar | 2026-08-24 | Sale | Self | $1,001 - $15,000 | Filing #20035411 |
| Gilbert Cisneros | 2026-08-18 | Purchase | Self | $1,001 - $15,000 | Filing #20035390 |
| Gilbert Cisneros | 2026-07-17 | Sale | Self | $1,001 - $15,000 | Filing #20035190 |
| Josh Gottheimer | 2026-07-16 | Sale | Joint | $1,001 - $15,000 | Filing #20035186 |
| Josh Gottheimer | 2026-07-15 | Sale | Joint | $1,001 - $15,000 | Filing #20035186 |
| Matt Van Epps | 2026-06-16 | Sale | Self | $1,001 - $15,000 | Filing #20034807 |
| Lloyd Doggett | 2026-06-10 | Purchase | Self | $1,001 - $15,000 | Filing #20034923 |
| Maria Salazar | 2026-05-21 | Purchase | Self | $15,001 - $50,000 | Filing #20034709 |
| Maria Salazar | 2026-05-21 | Purchase | Self | $15,001 - $50,000 | Filing #20034709 |
All verified IBM congressional disclosures
Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.
IBM provides hybrid-cloud software, consulting, and mainframe systems to large enterprises and governments.
For the fiscal year ended December 31, 2025, International Business Machines Corporation reported revenue of $67.5B and net income of $10.6B, with operating cash flow of $13.2B. The figures come from International Business Machines Corporation's SEC XBRL filings.
The SEC lists International Business Machines Corporation's fiscal year end as December 31.
The current verified House and Senate snapshot contains 48 transaction rows for IBM, each linked to the original filing.
International Business Machines Corporation is headquartered in Armonk, New York and was founded in 1911.
This page does not rate IBM as a buy or sell. It sets out what International Business Machines Corporation reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.
This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.
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