IBM (IBM) Stock: Revenue, Earnings, Margins & Valuation
IBM (IBM), USA at a glance: revenue structure, segments, costs, margins and earnings from the latest published annual report (FY 2025), visualised as a Sankey diagram and complemented by price chart, P/E valuation and the original SEC filings. All figures in USD. Free and without signup.
IBM key figures (FY 2025)
| Revenue | 64.00 USD bn |
|---|---|
| Gross profit | 34.00 USD bn |
| Gross margin | 53.1 % |
| Operating income | 16.50 USD bn |
| Operating margin | 25.8 % |
| Net income | 12.50 USD bn |
| Net margin | 19.5 % |
IBM revenue by segment (FY 2025)
| Segment | Revenue | Share |
|---|---|---|
| Software | 30.00 USD bn | 46.9 % |
| Consulting | 22.00 USD bn | 34.4 % |
| Infrastructure | 8.00 USD bn | 12.5 % |
| Financing | 4.00 USD bn | 6.3 % |
IBM earnings analysis
In the latest reported fiscal year (FY 2025), IBM generated revenue of 64.00 USD bn. The largest segment is Software with 30.00 USD bn, about 46.9 % of total segment revenue. From gross margin (53.1 %) through operating margin (25.8 %) to net margin (19.5 %), the Sankey diagram shows how much of each revenue dollar remains at each stage of the income statement.
IBM business model
The income statement of IBM is visualised as a Sankey diagram: from revenue through cost of revenue and operating expenses to net income. The page also shows the price chart, the price-earnings ratio of the last five fiscal years, return on equity and the company's annual and quarterly filings.
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