International Business Machines Corp
stock US:IBM (NYSE)

Alternative ID: US4592001014

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Exchange: NYSE
Sector: Technology
Industry: COMPUTER & OFFICE EQUIPMENT
Market Cap: Large (113.45B)
Next Earnings: 4/19/2023
Data in USD

EPS: 6.09
Current PE: 20.79
BVPS: 24.22
Price/BVPS: 5.17
Dividend: 6.59 / 4.5%

Hist Grade: F (0.00)
YOY Grade: F (7.95)
Debt/FCF: 4.47
ROIC: 29.6%
PEG: 1.28
PEGY: 1.63

Value Price: 20.39
MOS Price: 10.19
MOS %: -83.7%
Graham Number: 57.70
Graham MOS %: -53.9%
IRT: 20.80

Market Price

125.29

1.92 1.6%

as of Mar 24 '23

52 Week Range:

115.55 153.21

Stock Analyzer Tutorials

General Info

type: video (mp4); length: 3:30

Demonstrates how to use Stock Analyzer, shows how to analyze a stock and explains in detail "General Info" section of the Stock Analyzer result page.

Financial Statements

type: video (mp4); length: 5:10

Explains information presented in the Financial Statements section of the S2O Stock Analyzer: financial statements charts, absolute values and growth rates.

Growth Grade and Financial Ratios

type: video (mp4); length: 5:09

Demonstrates how to use Growth Grade & Financial Ratios section; shows the difference between historical and year-over-year Growth Grade on the real life example.

Demonstrates how to use Value Price (intrinsic value) and the Graham Number, MOS (margin of safety) and IRT - Investment Recovery Time; explains 3 different projection models used to compute value price - pessimistic, moderate and optimistic.

Price Charts

type: video (mp4); length: 8:34

Demonstrates basic rules of how to read a candlestick chart, long and short term moving averages, stochastic, MACD and relative strength (RS) charts. Explains how bull or bear market condition is computed.

General Info

Exchange: NYSE
Sector: Technology
Industry: COMPUTER & OFFICE EQUIPMENT
Market Cap: Large (113.45B)
Inst. Ownership: 57.40%
Insider Ownership: 0.09%
Full Time Employees: 0
Next Earnings: 4/19/2023

International Business Machines Corporation (IBM) is an American multinational technology company headquartered in Armonk, New York, with operations in over 170 countries. The company began in 1911, founded in Endicott, New York, as the Computing-Tabulating-Recording Company (CTR) and was renamed International Business Machines in 1924. IBM is incorporated in New York. IBM produces and sells computer hardware, middleware and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM is also a major research organization, holding the record for most annual U.S. patents generated by a business (as of 2020) for 28 consecutive years. Inventions by IBM include the automated teller machine (ATM), the floppy disk, the hard disk drive, the magnetic stripe card, the relational database, the SQL programming language, the UPC barcode, and dynamic random-access memory (DRAM). The IBM mainframe, exemplified by the System/360, was the dominant computing platform during the 1960s and 1970s.

Financial Statements

The charts below show selected Annual and Quarterly Financial Data.

The purpose of these charts is to discover long and short term change dynamics. When numbers are growing year after year in the annual statements chart, the business become stronger and stronger and this is a good sign.

Quarterly Data Chart can be used to do a short term analysis. It makes sense to pay attention to the quarterly dynamics and do not wait for the next yearly statement. We should be alerted if we see that quarterly numbers are going down.

You can check "Annual Financial Statements" and "Quarterly Financial Statements" sections for exact numbers and growth rates.

Annual Statements

On a charts below the Line shows absolute values and the Bar chart shows Year-Over-Year Growth Rate for selected financial statement item. A consistent GROWTH is generally considered necessary to fund future growth from within a business.
NOTE: Growth Rate is not provided if either the latest period or the year-ago period contains a net loss. (source: WSJ Digest of Earnings)
TIP! move your mouse pointer over bar or a circle on any chart below to see details.

Financial Statements

Income Statement

Cash Flow Statement

Balance Sheet

Liquidity Ratios

Current Ratio

Current Ratio measures the ability to meet short term obligations. Generally accepted standard is 2 (current assets should be 2 times or 200% of current liabilities).

Quick Ratio

Measures immediate liquidity or the cash available to cover immediate liabilities. A safe margin would be at least 1 (100%).

Financial Leverage

Defined as total assets divided by total shareholders' equity. The higher the ratio, the more debt a company uses in its capital structure.

Profitability Ratios

ROA

Return on Assets (ROA) measures the income (profit) that is generated by the use of the assets of the business.

ROE

Return on Equity (ROE) is a measure of profitability that calculates how many dollars of profit a company generates with each dollar of shareholders equity. ROE is sometimes called "return on net worth."

ROIC

The Return on Invested Capital (ROIC) measure gives a sense of how well a company is using its money to generate returns. Some investors use this figure as a final evaluation to determine whether or not to invest in a company.

Annual Statements

Item Name	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Equity (BVPS)	19.16	16.88	18.85	14.39	13.77	17.98	21.28	22.17	20.24	23.76	24.75
growth rate		-11.9%	11.7%	-23.7%	-4.3%	30.6%	18.4%	4.2%	-8.7%	17.4%	4.2%
Earnings BIT	21,000.00	21,900.00	19,520.00	20,129.00	16,517.00	14,170.00	11,682.00	13,218.00	7,539.00	5,518.00	7,022.00
growth rate		4.3%	-10.9%	3.1%	-17.9%	-14.2%	-17.6%	13.2%	-43.0%	-26.8%	27.3%
Avg.PE	14.08	13.33	12.55	13.61	9.84	14.65	25.52	14.05	15.85	19.12	24.45
growth rate		-5.3%	-5.9%	8.5%	-27.7%	48.9%	74.2%	-45.0%	12.8%	20.6%	27.9%
ROA	13.79	14.09	13.43	9.86	11.57	10.42	4.74	7.02	6.84	3.63	3.99
growth rate		2.2%	-4.7%	-26.6%	17.3%	-9.9%	-54.5%	48.1%	-2.6%	-46.9%	9.9%
ROE	73.43	85.15	79.15	69.37	100.96	73.04	32.10	50.76	50.12	26.98	29.08
growth rate		16.0%	-7.1%	-12.4%	45.5%	-27.7%	-56.1%	58.1%	-1.3%	-46.2%	7.8%
ROIC	31.15	32.57	29.24	21.41	25.32	21.60	9.67	14.30	13.66	7.33	8.46
growth rate		4.6%	-10.2%	-26.8%	18.3%	-14.7%	-55.2%	47.9%	-4.5%	-46.3%	15.4%
Cur. Ratio	1.21	1.13	1.28	1.24	1.24	1.21	1.33	1.29	1.02	0.98	0.88
growth rate		-6.6%	13.3%	-3.1%	0.0%	-2.4%	9.9%	-3.0%	-20.9%	-3.9%	-10.2%
Quick Ratio	0.98	0.95	1.07	1.02	1.07	1.04	1.18	1.11	0.87	0.82	0.66
growth rate		-3.1%	12.6%	-4.7%	4.9%	-2.8%	13.5%	-5.9%	-21.6%	-5.8%	-19.5%
Leverage	5.78	6.32	5.54	9.90	7.75	6.44	7.12	7.35	7.30	7.57	6.98
growth rate		9.3%	-12.3%	78.7%	-21.7%	-16.9%	10.6%	3.2%	-0.7%	3.7%	-7.8%
Balance Sheet	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Acct.Receivable	31,162.00	31,993.00	33,487.00	11,996.00	9,534.00	10,239.00	10,380.00	8,645.00	10,069.00	7,846.00	8,225.00
growth rate		2.7%	4.7%	-64.2%	-20.5%	7.4%	1.4%	-16.7%	16.5%	-22.1%	4.8%
Acct.Payable	21,464.00	22,492.00	20,735.00	6,864.00	6,028.00	6,209.00	6,451.00	6,558.00	4,896.00	4,908.00	3,955.00
growth rate		4.8%	-7.8%	-66.9%	-12.2%	3.0%	3.9%	1.7%	-25.3%	0.3%	-19.4%
Cur.Assets	50,928.00	49,433.00	51,350.00	47,377.00	42,504.00	43,889.00	49,735.00	49,146.00	38,420.00	39,165.00	29,539.00
growth rate		-2.9%	3.9%	-7.7%	-10.3%	3.3%	13.3%	-1.2%	-21.8%	1.9%	-24.6%
Total Assets	116,433.00	119,213.00	126,223.00	117,271.00	110,495.00	117,470.00	125,356.00	123,382.00	152,186.00	155,970.99	132,001.00
growth rate		2.4%	5.9%	-7.1%	-5.8%	6.3%	6.7%	-1.6%	23.4%	2.5%	-15.4%
Cash	11,922.00	10,412.00	10,716.00	8,476.00	7,686.00	7,826.00	11,972.00	11,379.00	8,172.00	13,212.00	6,650.00
growth rate		-12.7%	2.9%	-20.9%	-9.3%	1.8%	53.0%	-5.0%	-28.2%	61.7%	-49.7%
Inventory	2,595.00	2,287.00	2,310.00	2,103.00	1,551.00	1,553.00	1,583.00	1,682.00	1,619.00	1,812.00	1,649.00
growth rate		-11.9%	1.0%	-9.0%	-26.3%	0.1%	1.9%	6.3%	-3.8%	11.9%	-9.0%
Cur.Liabilities	42,123.00	43,625.00	40,154.00	39,581.00	34,269.00	36,275.00	37,363.00	38,227.00	37,701.00	39,869.00	33,619.00
growth rate		3.6%	-8.0%	-1.4%	-13.4%	5.9%	3.0%	2.3%	-1.4%	5.8%	-15.7%
Liabilities	96,294.00	100,353.00	103,431.00	105,257.00	96,071.00	99,078.00	107,631.00	106,452.00	131,201.00	135,244.00	113,005.00
growth rate		4.2%	3.1%	1.8%	-8.7%	3.1%	8.6%	-1.1%	23.3%	3.1%	-16.4%
LT Debt	22,857.00	24,088.00	32,856.00	34,991.00	33,431.00	34,663.00	39,871.00	35,567.00	53,951.00	54,355.00	44,854.00
growth rate		5.4%	36.4%	6.5%	-4.5%	3.7%	15.0%	-10.8%	51.7%	0.8%	-17.5%
Equity	20,138.00	18,860.00	22,792.00	11,868.00	14,262.00	18,246.00	17,594.00	16,796.00	20,841.00	20,597.00	18,901.00
growth rate		-6.4%	20.9%	-47.9%	20.2%	27.9%	-3.6%	-4.5%	24.1%	-1.2%	-8.2%
Common Shares	1,214.00	1,155.00	1,103.00	1,010.00	983.00	959.00	937.00	55,151.00	55,895.00	892.65	898.07
growth rate		-4.9%	-4.5%	-8.4%	-2.7%	-2.4%	-2.3%	5,785.9%	1.4%	-98.4%	0.6%
Cash Flow Statement	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Capital Expenditures	4,108.00	4,082.00	3,623.00	3,740.00	3,579.00	3,567.00	3,229.00	3,395.00	2,286.00	2,618.00	2,062.00
growth rate		-0.6%	-11.2%	3.2%	-4.3%	-0.3%	-9.5%	5.1%	-32.7%	14.5%	-21.2%
Cash Dividends	3,473.00	3,773.00	4,058.00	4,265.00	4,897.00	5,256.00	5,506.00	5,666.00	5,707.00	-5,797.00	-5,869.00
growth rate		8.6%	7.6%	5.1%	14.8%	7.3%	4.8%	2.9%	0.7%	-100.0%	0.0%
Cash From OA	19,846.00	19,586.00	17,485.00	16,868.00	17,255.00	17,084.00	16,724.00	15,247.00	14,770.00	18,197.00	12,796.00
growth rate		-1.3%	-10.7%	-3.5%	2.3%	-1.0%	-2.1%	-8.8%	-3.1%	23.2%	-29.7%
FCF per Share	12.00	12.87	11.80	12.64	13.82	15.02	11.71	13.82	13.76	14.13	14.54
growth rate		7.3%	-8.3%	7.1%	9.3%	8.7%	-22.0%	18.0%	-0.4%	2.7%	2.9%
Sale Purchase of Stock	-12,593.00	-10,455.00	-12,785.00	709.00	322.00	204.00	-4,358.00	-4,443.00	-1,361.00	-210.00
growth rate		0.0%	0.0%	100.0%	-54.6%	-36.7%	-100.0%	0.0%	0.0%	0.0%
FCF	15,179.00	14,869.00	13,345.00	12,685.00	12,857.00	12,808.00	12,951.00	11,283.00	11,863.00	14,967.00	10,028.00
growth rate		-2.0%	-10.3%	-5.0%	1.4%	-0.4%	1.1%	-12.9%	5.1%	26.2%	-33.0%
Income Statement	Dec '11	Dec '12	Dec '13	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21
Sales	106,916.00	102,874.00	98,367.00	92,793.00	81,741.00	79,919.00	79,139.00	79,591.00	57,714.00	55,179.00	57,350.00
growth rate		-3.8%	-4.4%	-5.7%	-11.9%	-2.2%	-1.0%	0.6%	-27.5%	-4.4%	3.9%
Op.Income	15,855.00	16,999.00	16,881.00	20,129.00	16,517.00	14,170.00	11,682.00	13,218.00	7,539.00	4,609.00	4,786.00
growth rate		7.2%	-0.7%	19.2%	-17.9%	-14.2%	-17.6%	13.2%	-43.0%	-38.9%	3.8%
IBT	21,003.00	22,540.00	20,244.00	19,985.00	15,945.00	12,330.00	11,400.00	11,342.00	7,206.00	4,230.00	5,867.00
growth rate		7.3%	-10.2%	-1.3%	-20.2%	-22.7%	-7.5%	-0.5%	-36.5%	-41.3%	38.7%
Net Income	15,855.00	16,999.00	16,881.00	12,022.00	13,190.00	11,872.00	5,753.00	8,728.00	9,431.00	5,590.00	5,743.00
growth rate		7.2%	-0.7%	-28.8%	9.7%	-10.0%	-51.5%	51.7%	8.1%	-40.7%	2.7%
EPS	13.06	14.37	14.94	11.90	13.42	12.38	6.14	9.52	10.56	6.23	6.35
growth rate		10.0%	4.0%	-20.4%	12.8%	-7.8%	-50.4%	55.1%	10.9%	-41.0%	1.9%
Gross Profit	50,138.00	50,361.00	48,684.00	46,407.00	40,684.00	38,517.00	36,943.00	36,937.00	31,534.00	30,865.00	31,486.00
growth rate		0.4%	-3.3%	-4.7%	-12.3%	-5.3%	-4.1%	0.0%	-14.6%	-2.1%	2.0%
R&D	6,258.00	5,816.00	5,743.00	5,437.00	5,247.00	5,726.00	5,590.00	5,379.00	5,910.00	6,262.00	6,488.00
growth rate		-7.1%	-1.3%	-5.3%	-3.5%	9.1%	-2.4%	-3.8%	9.9%	6.0%	3.6%

Quarterly Statements

Item Name	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Earnings BIT	1,609.00	2,395.00	1,005.00	1,946.00	-4,188.00
growth rate		48.9%	-58.0%	93.6%	-100.0%
Balance Sheet	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Acct.Receivable	15,418.00	8,225.00	14,396.00	7,307.00	13,178.00
growth rate		-46.7%	75.0%	-49.2%	80.4%
Acct.Payable	4,248.00	3,955.00	3,453.00	3,707.00	3,806.00
growth rate		-6.9%	-12.7%	7.4%	2.7%
Cur.Assets	29,967.00	29,539.00	31,330.00	27,896.00	28,999.00
growth rate		-1.4%	6.1%	-11.0%	4.0%
Total Assets	144,214.00	132,001.00	133,275.00	127,503.00	125,850.00
growth rate		-8.5%	1.0%	-4.3%	-1.3%
Cash	7,455.00	6,650.00	9,934.00	7,034.00	7,816.00
growth rate		-10.8%	49.4%	-29.2%	11.1%
Inventory	1,891.00	1,649.00	1,776.00	1,684.00	1,794.00
growth rate		-12.8%	7.7%	-5.2%	6.5%
Cur.Liabilities	35,832.00	33,619.00	34,056.00	31,844.00	30,466.00
growth rate		-6.2%	1.3%	-6.5%	-4.3%
Liabilities	121,858.00	113,005.00	114,162.00	108,026.00	105,703.00
growth rate		-7.3%	1.0%	-5.4%	-2.2%
LT Debt	46,569.00	44,854.00	46,445.00	44,220.00	44,783.00
growth rate		-3.7%	3.6%	-4.8%	1.3%
Equity	22,228.00	18,901.00	19,050.00	19,409.00	20,076.00
growth rate		-15.0%	0.8%	1.9%	3.4%
Common Shares	897.10	898.07	899.32	901.50	904.08
growth rate		0.1%	0.1%	0.2%	0.3%
Cash Flow Statement	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Capital Expenditures	558.00	450.00	281.00	339.00	317.00
growth rate		-19.4%	-37.6%	20.6%	-6.5%
Cash Dividends	-1,471.00	-1,474.00	-1,475.00	-1,488.00	-1,491.00
growth rate		0.0%	0.0%	0.0%	0.0%
Cash From OA	2,713.00	2,544.00	3,248.00	1,321.00	1,901.00
growth rate		-6.2%	27.7%	-59.3%	43.9%
Sale Purchase of Stock
growth rate
FCF	2,155.00	2,094.00	2,967.00	982.00	1,584.00
growth rate		-2.8%	41.7%	-66.9%	61.3%
Income Statement	Sep '21	Dec '21	Mar '22	Jun '22	Sep '22
Sales	13,251.00	3,257.00	14,197.00	15,535.00	14,107.00
growth rate		-75.4%	335.9%	9.4%	-9.2%
Op.Income	1,761.00	913.00	470.00	2,377.00	1,471.00
growth rate		-48.2%	-48.5%	405.7%	-38.1%
IBT	1,318.00	2,092.00	694.00	1,649.00	-4,483.00
growth rate		58.7%	-66.8%	137.6%	-100.0%
Net Income	1,130.00	2,333.00	733.00	1,392.00	-3,196.00
growth rate		106.5%	-68.6%	89.9%	-100.0%
EPS
growth rate
Gross Profit	7,106.00	6,107.00	7,335.00	8,290.00	7,430.00
growth rate		-14.1%	20.1%	13.0%	-10.4%
R&D	1,606.00	1,581.00	1,679.00	1,673.00	1,611.00
growth rate		-1.6%	6.2%	-0.4%	-3.7%

Growth Grade & Financial Ratios

All financial ratios below are calculated based on latest annual statements available and present the most up to date snapshot of a company finances.

Growth Grade

Historical Growth Grade:

F (0.00)

YOY Growth Grade:

F (7.95)

Click on buttons above for detailed yearly growth rates.

Market Ratios

Dividend Yield: 4.5%
Beta: 0.85
Beta of 0.8520 suggests that the asset is less volatile than the rest of the market.
PE: 20.79
EY: 4.8%
PEG: 1.28
PEG Ratio of 1.28 suggests that stock is reasonably priced.
PEGY: 1.63
PEGY Ratio of 1.63 suggests that stock is overpriced.
Price/BVPS: 5.17

Profitability Ratios

ROE: 8.7%
Return on Equity (ROE) of 8.7% suggests that management is inefficient or it could reflect a highly capitalized, conservatively operated business with little long term debt.
ROS: 210.8%
The value of Return on Sales depends on the business and/or industry. Usually the higher ratio the better.
ROA: 3.7%
Return on Assets (ROA). Low ratio usually means poor performance, or ineffective use of assets by management. High ratio usually means good performance.
ROI: 25.6%
Return on Investment (ROI) of 25.6% suggests that a company is doing well.
ROIC: 29.6%
Return on Invested Capital (ROIC) of 29.6% suggests that a company is doing well.

Liquidity Ratios

Current Ratio: 0.88
Current Ratio of 0.88 suggests that a company may not be able to pay off bills as rapidly as it should.
Quick Ratio: 0.44
Quick Ratio of 0.44 suggests that a company does not have enough cash to cover immediate liabilities.
Cash Turnover: -14.06
Turnover Of Cash Ratio of -14.06 suggests that a company may have funds tied up in short-term low-yielding assets or may have a cash surplus, which is not invested in the business.
Equity Ratio: 14.3%
Equity Ratio of 14.3% suggests that a company has high financing and debt service costs, not very attractive to investors.
Debt/Equity: 597.9%
Debt to Equity Ratio of 597.9% suggests that greater risk assumed by creditors, hence greater interest by them in the way the company is being managed.
Debt/FCF: 4.47
Debt/FCF of 4.47 suggests that a company does not have enough cash to pay off its long term debt within three years.

Efficiency Ratios

Avg Collection Period: 52.35
Average Collection Period of 52.35 days suggests that a company is doing well.
Inventory Turnover: 15.69
Inventory Turnover Ratio of 15.69 suggests that a company is doing well.
Cash Flow Ratio: 2.50
Cash Flow Ratio of 2.50 suggests a company is doing OK, but lower inventory is generally viewed as a positive trend.
Profit Margin: 10.0%

Value Price

PE and EPS

	Historical	Current	Forward
PE	24.70	20.57	12.25
EPS / Growth	-11.2%	6.09	9.2%

Value Price & Investment Recovery Time

Read more about Stock2Own value price in Stock Market: Fundamental Analysis.

Equity Growth Rate: 0.2%

Estimates	Pessimistic	Moderate	Optimistic
Rate of Return	15.0%
MOS Price %	50 %
Future EPS Growth	0.2%	0.6%	0.6%
Future PE	0.46	12.73	12.73
Future EPS	6.23	6.48	6.48
Value Price MOS %	0.71 -99.4%	20.39 -83.7%	20.39 -83.7%
MOS Price	0.35	10.19	10.19
IRT	20.08	19.31	19.31

Graham Number:

NOTE: The Graham Number applies only to certain types of stocks in combination with a number of other criteria.

Read more about Graham Number in Stock Market: Fundamental Analysis.

Graham Number: 57.70
Graham MOS: -53.9%

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