Is the business good?
How good a business is IBM?
IBM keeps 16% of every revenue dollar as profit after everything, against 6.0% for the median Information Technology Services name.
16%
Net margin · Information Technology Services median 6.0% · 12 months to Q2 2026
- Cash conversion
- 1.29×
Cash conversion · 2.10× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +0.56%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 13%
R&D as % of revenue
Details›
- Gross margin12 months to Q2 2026
- 58%
- Net margin12 months to Q2 2026
- 16%
- Free cash flow margin
- 20%
- R&D as % of revenue
- 13%
- Revenue, trailing twelve months
- $69.1B
- Free cash flow, trailing twelve months
- $13.8B
- Net income, trailing twelve months
- $10.7B
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Information Technology Services
Ranks #6 of 37 by Smart Score