International Business Machines Corporation income statement & cash flow
In the fiscal year ended Dec 31, 2025, International Business Machines Corporation reported net income of $10.59B on revenue of $67.53B. Operating cash flow was $13.19B and capital expenditures were $1.09B, leaving $12.10B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $79.92B | $79.14B | $79.59B | $57.71B | $55.18B | $57.35B | $60.53B | $61.86B | $62.75B | $67.53B |
| Gross profit | $38.52B | $36.94B | $36.94B | $31.53B | $30.86B | $31.49B | $32.69B | $34.30B | $35.55B | $39.30B |
| Net income | $11.87B | $5.75B | $8.73B | $9.43B | $5.59B | $5.74B | $1.64B | $7.50B | $6.02B | $10.59B |
| Diluted EPS | $12.38 | $6.14 | $9.52 | $10.56 | $6.23 | $6.35 | $1.80 | $8.14 | $6.43 | $11.17 |
| Operating cash flow | $17.08B | $16.72B | $15.25B | $14.77B | $18.20B | $12.80B | $10.44B | $13.93B | $13.45B | $13.19B |
| Capital expenditures | $3.57B | $3.23B | $3.40B | $2.29B | $2.62B | $2.06B | $1.35B | $1.25B | $1.05B | $1.09B |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | 58.2% | — | 15.7% |
| Dec 2024 | 56.7% | — | 9.6% |
| Dec 2023 | 55.4% | — | 12.1% |
| Dec 2022 | 54.0% | — | 2.7% |
| Dec 2021 | 54.9% | — | 10.0% |
Source: SEC EDGAR XBRL company facts for CIK 51143 (raw data). Most recent filing in this dataset: 10-Q filed Oct 22, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.