Cash flow IBM

Equities

IBM

US4592001014

IT Services & Consulting

Market Closed - Nyse Other stock markets 04:00:02 2025-01-17 pm EST			5-day change	1st Jan Change
224.79 ^USD	+0.96%		+2.29%	+2.26%

Jan. 16	IBM: acquisition of an Oracle solutions provider	CF
Jan. 16	IBM Buying Oracle Cloud Applications Advisory Firm	MT

64.4Z0mh4ByDvV8MqLlRgR3C7xqdoaA3EO810nOrSOIcu4.tuVr6LUcPrdMVeSpK2ghY8s4MM-xnSzJ4wqExFHOPL-b3n_LrTRfgihglg

Published financial data: IBM

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	75.74B	72.49B	56.57B	59.88B	61.12B
Finance Div. Revenues	1.4B	1.13B	780M	651M	737M
Other Revenues, Total	-	-	-	-	-
Total Revenues	77.15B	73.62B	57.35B	60.53B	61.86B
Cost of Goods Sold, Total	39.75B	37.34B	25.33B	27.44B	27.18B
Finance Div. Operating Exp.	904M	708M	534M	406M	382M
Gross Profit	36.49B	35.58B	31.49B	32.69B	34.3B
Selling General & Admin Expenses, Total	20.38B	21.24B	19.8B	25.09B	18.48B
R&D Expenses	5.94B	6.33B	6.49B	6.57B	6.78B
Other Operating Expenses	-614M	-584M	-577M	-642M	-852M
Other Operating Expenses, Total	25.7B	26.99B	25.71B	31.02B	24.4B
Operating Income	10.78B	8.58B	5.77B	1.67B	9.9B
Interest Expense, Total	-1.34B	-1.29B	-1.16B	-1.22B	-1.61B
Interest And Investment Income	349M	105M	52M	162M	670M
Net Interest Expenses	-995M	-1.18B	-1.1B	-1.05B	-937M
Currency Exchange Gains (Loss)	279M	-12M	-1M	500M	-69M
Other Non Operating Income (Expenses)	383M	-473M	247M	6B	225M
EBT, Excl. Unusual Items	10.45B	6.92B	4.92B	7.12B	9.11B
Restructuring Charges	-555M	-2.92B	-181M	-50M	-438M
Merger & Related Restructuring Charges	-489M	-13M	-43M	-18M	-33M
Gain (Loss) On Sale Of Investments	32M	22M	133M	-278M	39M
Gain (Loss) On Sale Of Assets	726M	711M	35M	279M	8M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-77M	-22M	-5.89B	-
EBT, Incl. Unusual Items	10.17B	4.64B	4.84B	1.16B	8.69B
Income Tax Expense	731M	-864M	124M	-626M	1.18B
Earnings From Continuing Operations	9.44B	5.5B	4.71B	1.78B	7.51B
Earnings Of Discontinued Operations	-4M	89M	1.03B	-143M	-12M
Net Income to Company	9.43B	5.59B	5.74B	1.64B	7.5B
Net Income - (IS)	9.43B	5.59B	5.74B	1.64B	7.5B
Net Income to Common Incl Extra Items	9.43B	5.59B	5.74B	1.64B	7.5B
Net Income to Common Excl. Extra Items	9.44B	5.5B	4.71B	1.78B	7.51B
Per Share Items
Net EPS - Basic	10.63	6.28	6.41	1.82	8.23
Basic EPS - Continuing Operations	10.63	6.18	5.26	1.97	8.25
Basic Weighted Average Shares Outstanding	887M	890M	896M	903M	911M
Net EPS - Diluted	10.57	6.23	6.35	1.79	8.14
Diluted EPS - Continuing Operations	10.57	6.13	5.21	1.95	8.15
Diluted Weighted Average Shares Outstanding	893M	897M	905M	912M	922M
Normalized Basic EPS	7.36	4.85	3.43	4.93	6.25
Normalized Diluted EPS	7.32	4.82	3.4	4.88	6.18
Dividend Per Share	6.43	6.51	6.56	6.59	6.63
Payout Ratio	60.51	103.7	102.19	362.9	80.51
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	16.84B	15.28B	12.19B	6.48B	14.29B
EBITA	12.64B	11.05B	8.3B	4.07B	12.18B
EBIT	10.78B	8.58B	5.77B	1.67B	9.9B
EBITDAR	19.04B	17.35B	13.63B	7.72B	15.58B
Total Revenues (As Reported)	77.15B	73.62B	57.35B	60.53B	61.86B
Effective Tax Rate - (Ratio)	7.19	-18.63	2.56	-54.15	13.53
Current Domestic Taxes	246M	631M	535M	575M	687M
Current Foreign Taxes	1.83B	1.83B	1.34B	1.68B	1.59B
Total Current Taxes	2.08B	2.46B	1.88B	2.25B	2.28B
Deferred Domestic Taxes	-921M	862M	-1.73B	-3.13B	-1.53B
Deferred Foreign Taxes	-423M	-4.18B	-25M	252M	428M
Total Deferred Taxes	-1.34B	-3.32B	-1.75B	-2.88B	-1.1B
Normalized Net Income	6.53B	4.32B	3.07B	4.45B	5.7B
Interest Capitalized	5M	6M	3M	5M	9M
Interest on Long-Term Debt	30M	-	-	-	-
Non-Cash Pension Expense	443M	964M	1.14B	6.46B	-147M
Supplemental Operating Expense Items
Advertising Expense	1.65B	1.54B	1.41B	1.33B	1.24B
Selling and Marketing Expenses	1.65B	1.54B	1.41B	1.33B	1.24B
Research And Development Expense From Footnotes	5.99B	6.33B	6.49B	6.57B	6.78B
Net Rental Expense, Total	2.19B	2.07B	1.44B	1.25B	1.29B
Imputed Operating Lease Interest Expense	415M	318M	221M	223M	293M
Imputed Operating Lease Depreciation	1.78B	1.75B	1.22B	1.02B	999M
Stock-Based Comp., COGS (Total)	100M	153M	145M	164M	190M
Stock-Based Comp., R&D Exp. (Total)	126M	198M	218M	258M	328M
Stock-Based Comp., SG&A Exp. (Total)	453M	586M	555M	566M	616M
Stock-Based Comp., Other (Total)	-	-	64M	-	-
Total Stock-Based Compensation	679M	937M	982M	988M	1.13B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	8.17B	13.21B	6.65B	7.89B	13.07B
Short Term Investments	696M	600M	600M	852M	373M
Trading Asset Securities, Total	-	-	-	-	-
Total Cash And Short Term Investments	8.87B	13.81B	7.25B	8.74B	13.44B
Accounts Receivable, Total	8.36B	7.63B	7.22B	7B	7.72B
Other Receivables	1.73B	714M	1B	677M	629M
Total Receivables	10.1B	8.34B	8.22B	7.68B	8.35B
Inventory	1.62B	1.84B	1.65B	1.55B	1.16B
Prepaid Expenses	1.46B	1.62B	2.64B	1.88B	1.77B
Finance Division Loans and Leases Current	14.19B	10.89B	7.22B	6.85B	6.1B
Finance Division Other Current Assets, Total	-	-	793M	939M	692M
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	141M	463M	307M	103M	21M
Other Current Assets, Total	2.04B	2.19B	1.46B	1.38B	1.38B
Total Current Assets	38.42B	39.16B	29.54B	29.12B	32.91B
Gross Property Plant And Equipment	37.02B	37.86B	23.31B	21.57B	21.34B
Accumulated Depreciation	-22.02B	-23.14B	-14.39B	-13.36B	-12.62B
Net Property Plant And Equipment	15.01B	14.73B	8.92B	8.21B	8.72B
Long-term Investments	222M	226M	206M	1.61B	1.59B
Goodwill	58.22B	59.62B	55.64B	55.95B	60.18B
Other Intangibles, Total	15.24B	13.8B	12.51B	11.18B	11.04B
Finance Division Loans and Leases Long-Term	8.71B	7.09B	5.42B	5.81B	5.77B
Deferred Tax Assets Long-Term	5.18B	9.24B	7.37B	6.26B	6.66B
Deferred Charges Long-Term	2.47B	2.45B	924M	866M	842M
Other Long-Term Assets, Total	8.72B	9.66B	11.47B	8.24B	7.54B
Total Assets	152B	156B	132B	127B	135B
Liabilities
Accounts Payable, Total	4.9B	4.91B	3.96B	4.05B	4.13B
Accrued Expenses, Total	7.37B	9.5B	6.9B	7.05B	6.73B
Short-term Borrowings	1.28B	130M	22M	8M	-
Current Portion of Long-Term Debt	7.47B	6.96B	6.73B	4.68B	6.3B
Current Portion of Leases	1.43B	1.45B	1.01B	949M	941M
Current Income Taxes Payable	2.84B	3.3B	2.29B	2.2B	2.27B
Unearned Revenue Current, Total	12.25B	13.04B	12.65B	12.03B	13.45B
Other Current Liabilities	167M	587M	60M	546M	295M
Total Current Liabilities	37.7B	39.87B	33.62B	31.5B	34.12B
Long-Term Debt	53.95B	54.16B	44.85B	46.02B	49.74B
Long-Term Leases	4.03B	3.77B	2.52B	2.35B	2.95B
Unearned Revenue Non Current	3.85B	4.3B	3.58B	3.5B	3.53B
Pension & Other Post Retirement Benefits	17.14B	18.25B	14.44B	9.6B	10.81B
Deferred Tax Liability Non Current	5.23B	5.47B	3.96B	2.29B	1.15B
Other Non Current Liabilities	9.3B	9.43B	10.04B	9.95B	10.33B
Total Liabilities	131B	135B	113B	105B	113B
Common Stock, Total	55.9B	56.56B	57.32B	58.34B	59.64B
Retained Earnings	163B	163B	154B	150B	151B
Treasury Stock	-169B	-169B	-169B	-169B	-170B
Comprehensive Income and Other	-28.6B	-29.34B	-23.24B	-16.74B	-18.76B
Total Common Equity	20.84B	20.6B	18.9B	21.94B	22.53B
Minority Interest	144M	129M	95M	77M	80M
Total Equity	20.98B	20.73B	19B	22.02B	22.61B
Total Liabilities And Equity	152B	156B	132B	127B	135B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	887M	894M	899M	907M	917M
ECS Total Common Shares Outstanding	887M	893M	898M	906M	915M
Book Value / Share	23.49	23.07	21.05	24.22	24.63
Tangible Book Value	-52.62B	-52.82B	-49.25B	-45.19B	-48.68B
Tangible Book Value Per Share	-59.31	-59.17	-54.84	-49.87	-53.2
Total Debt	68.16B	66.47B	55.14B	54.01B	59.94B
Net Debt	59.29B	52.66B	47.89B	45.28B	46.49B
Debt Equivalent of Unfunded Proj. Benefit Obligation	6.45B	7.01B	1.45B	-711M	1.22B
Debt Equivalent Oper. Leases	17.54B	16.54B	11.5B	9.98B	10.34B
Minority Interest, Total (Incl. Fin. Div)	144M	129M	95M	77M	80M
Equity Method Investments, Total	184M	172M	159M	142M	125M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Work In Process, Total	1.4B	1.65B	1.44B	1.39B	1.08B
Inventories - Finished Goods, Total	220M	190M	208M	158M	78M
Land - (BS)	366M	381M	224M	213M	182M
Buildings, Total	9.36B	9.42B	6.05B	5.68B	5.33B
Machinery, Total	18.58B	19.68B	13.81B	12.8B	12.61B
Full Time Employees	353K	346K	282K	288K	282K
Accumulated Allowance for Doubtful Accounts (Supple)	299M	351M	218M	233M	192M
Order Backlog	112B	111B	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	9.43B	5.59B	5.74B	1.64B	7.5B
Depreciation & Amortization - CF	4.21B	4.23B	3.89B	2.41B	2.11B
Amortization of Goodwill and Intangible Assets - (CF)	1.85B	2.47B	2.53B	2.4B	2.29B
Depreciation & Amortization, Total	6.06B	6.7B	6.42B	4.8B	4.4B
(Gain) Loss From Sale Of Asset	-1.1B	-70M	-307M	-122M	-170M
Stock-Based Compensation (CF)	679M	937M	982M	987M	1.13B
Net Cash From Discontinued Operations	-	-	-	-	-
Other Operating Activities, Total	-1.53B	-3.2B	-2B	3.17B	-1.11B
Change In Accounts Receivable	502M	5.3B	1.37B	-539M	725M
Change In Inventories	67M	-209M	138M	71M	390M
Change In Accounts Payable	-503M	138M	85M	213M	65M
Change in Other Net Operating Assets	1.16B	3.02B	367M	216M	1B
Cash from Operations	14.77B	18.2B	12.8B	10.44B	13.93B
Capital Expenditure	-2.29B	-2.62B	-2.06B	-1.35B	-1.24B
Sale of Property, Plant, and Equipment	537M	188M	387M	111M	321M
Cash Acquisitions	-32.63B	-336M	-3.29B	-2.35B	-5.08B
Divestitures	1.08B	503M	114M	1.27B	-4M
Sale (Purchase) of Intangible assets	-621M	-612M	-706M	-626M	-565M
Investment in Marketable and Equity Securities, Total	268M	-628M	-414M	-1.26B	-496M
Net (Increase) Decrease in Loans Originated / Sold - Investing	6.72B	475M	-	-	-
Other Investing Activities, Total	-	-	-1M	-	1M
Cash from Investing	-26.94B	-3.03B	-5.98B	-4.2B	-7.07B
Short Term Debt Issued, Total	-	-	-	217M	-
Long-Term Debt Issued, Total	31.82B	10.5B	522M	7.8B	9.59B
Total Debt Issued	31.82B	10.5B	522M	8.02B	9.59B
Short Term Debt Repaid, Total	-2.6B	-853M	-40M	-	-7M
Long-Term Debt Repaid, Total	-12.94B	-13.36B	-8.6B	-6.8B	-5.08B
Total Debt Repaid	-15.54B	-14.22B	-8.64B	-6.8B	-5.09B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-1.63B	-302M	-319M	-407M	-402M
Common Dividends Paid	-5.71B	-5.8B	-5.87B	-5.95B	-6.04B
Common & Preferred Stock Dividends Paid	-5.71B	-5.8B	-5.87B	-5.95B	-6.04B
Other Financing Activities, Total	98M	92M	949M	176M	176M
Cash from Financing	9.04B	-9.72B	-13.35B	-4.96B	-1.77B
Foreign Exchange Rate Adjustments	-167M	-87M	-185M	-244M	9M
Miscellaneous Cash Flow Adjustments	1M	-	-	1M	-
Net Change in Cash	-3.29B	5.36B	-6.72B	1.03B	5.1B
Supplemental Items
Cash Interest Paid	1.68B	1.83B	1.51B	1.4B	1.67B
Cash Income Tax Paid (Refund)	2.09B	2.25B	2.1B	1.86B	1.56B
Levered Free Cash Flow	16.83B	16.97B	4.74B	6.03B	10.82B
Unlevered Free Cash Flow	17.67B	17.77B	5.47B	6.79B	11.82B
Change In Net Working Capital	-7.1B	-8B	2.77B	-1.92B	-1.92B
Net Debt Issued / Repaid	16.28B	-3.71B	-8.12B	1.22B	4.5B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.89	3.48	2.51	0.81	4.71
Return on Total Capital	8.88	6.08	4.51	1.39	7.8
Return On Equity %	49.77	26.38	23.73	8.69	33.67
Return on Common Equity	50.14	26.55	23.86	8.73	33.79
Margin Analysis
Gross Profit Margin %	47.3	48.32	54.9	54	55.45
SG&A Margin	26.42	28.85	34.53	41.45	29.88
EBITDA Margin %	21.83	20.75	21.25	10.7	23.1
EBITA Margin %	16.38	15.01	14.47	6.72	19.69
EBIT Margin %	13.98	11.66	10.06	2.76	16
Income From Continuing Operations Margin %	12.23	7.47	8.22	2.94	12.15
Net Income Margin %	12.22	7.59	10.01	2.71	12.13
Net Avail. For Common Margin %	12.23	7.47	8.22	2.94	12.15
Normalized Net Income Margin	8.47	5.87	5.36	7.35	9.21
Levered Free Cash Flow Margin