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5-day change | 1st Jan Change | ||
| 246.28 USD | -0.57% |
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-4.86% | -16.86% |
| Mar. 14 | Pasqal: The Alchemy of Neutral Atoms to Win Over the Nasdaq |  |
| Mar. 13 | International Business Machines Corporation Presents at Bank of America View from the Top CEO Series, Mar-05-2026 02:00 PM |
Projected Income Statement: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 57,350 | 60,530 | 61,860 | 62,753 | 67,535 | 71,193 | 74,356 | 78,540 |
| Change | - | 5.54% | 2.2% | 1.44% | 7.62% | 5.42% | 4.44% | 5.63% |
| EBITDA 1 | - | 14,739 | 15,447 | 16,400 | 19,200 | 19,918 | 21,726 | 23,037 |
| Change | - | - | 4.8% | 6.17% | 17.07% | 3.74% | 9.08% | 6.03% |
| EBIT 1 | - | 9,937 | 11,052 | 11,263 | 14,126 | 14,398 | 15,652 | 17,369 |
| Change | - | - | 11.22% | 1.91% | 25.42% | 1.93% | 8.71% | 10.97% |
| Interest Paid 1 | -1,155 | -1,216 | -1,607 | -1,712 | -1,935 | -1,987 | -1,997 | -1,924 |
| Earnings before Tax (EBT) 1 | 4,837 | 1,156 | 8,690 | 5,797 | 10,328 | 12,026 | 13,408 | 15,283 |
| Change | - | -76.1% | 651.73% | -33.29% | 78.16% | 16.44% | 11.49% | 13.99% |
| Net income 1 | 5,743 | 1,639 | 7,502 | 6,023 | 10,593 | 10,611 | 11,931 | 12,714 |
| Change | - | -71.46% | 357.72% | -19.71% | 75.88% | 0.17% | 12.44% | 6.56% |
| Announcement Date | 1/24/22 | 1/25/23 | 1/24/24 | 1/29/25 | 1/28/26 | - | - | - |
Forecast Balance Sheet: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 44,147 | 42,108 | 43,085 | 40,168 | 46,789 | 38,682 | 26,719 | 22,547 |
| Change | - | -4.62% | 2.32% | -6.77% | 16.48% | -17.33% | -30.93% | -15.61% |
| Announcement Date | 1/24/22 | 1/25/23 | 1/24/24 | 1/29/25 | 1/28/26 | - | - | - |
Cash Flow Forecast: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| CAPEX 1 | 2,381 | 1,860 | 1,488 | 1,127 | 1,617 | 1,614 | 1,687 | 1,712 |
| Change | - | -21.88% | -20% | -24.26% | 43.48% | -0.16% | 4.53% | 1.44% |
| Free Cash Flow (FCF) 1 | 6,508 | 9,291 | 11,210 | 12,749 | 14,734 | 15,886 | 17,672 | 19,149 |
| Change | - | 42.76% | 20.65% | 13.73% | 15.57% | 7.82% | 11.25% | 8.36% |
| Announcement Date | 1/24/22 | 1/25/23 | 1/24/24 | 1/29/25 | 1/28/26 | - | - | - |
Forecast Financial Ratios: IBM
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | - | 24.35% | 24.97% | 26.13% | 28.43% | 27.98% | 29.22% | 29.33% |
| EBIT Margin (%) | - | 16.42% | 17.87% | 17.95% | 20.92% | 20.22% | 21.05% | 22.11% |
| EBT Margin (%) | 8.43% | 1.91% | 14.05% | 9.24% | 15.29% | 16.89% | 18.03% | 19.46% |
| Net margin (%) | 10.01% | 2.71% | 12.13% | 9.6% | 15.69% | 14.9% | 16.05% | 16.19% |
| FCF margin (%) | 11.35% | 15.35% | 18.12% | 20.32% | 21.82% | 22.31% | 23.77% | 24.38% |
| FCF / Net Income (%) | 113.32% | 566.87% | 149.43% | 211.67% | 139.09% | 149.71% | 148.12% | 150.61% |
Profitability | ||||||||
| ROA | 3.99% | 6.42% | 5.73% | 7.11% | 7.61% | 7.53% | 7.92% | 8.28% |
| ROE | 36.33% | 40.77% | 33.79% | 38.86% | 36.67% | 33.11% | 30.31% | 28.38% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | - | 2.86x | 2.79x | 2.45x | 2.44x | 1.94x | 1.23x | 0.98x |
| Debt / Free cash flow | 6.78x | 4.53x | 3.84x | 3.15x | 3.18x | 2.44x | 1.51x | 1.18x |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | 4.15% | 3.07% | 2.41% | 1.8% | 2.39% | 2.27% | 2.27% | 2.18% |
| CAPEX / EBITDA (%) | - | 12.62% | 9.63% | 6.87% | 8.42% | 8.11% | 7.77% | 7.43% |
| CAPEX / FCF (%) | 36.59% | 20.02% | 13.27% | 8.84% | 10.97% | 10.16% | 9.55% | 8.94% |
Items per share | ||||||||
| Cash flow per share 1 | 14.15 | 11.44 | 15.11 | 14.35 | 13.91 | 17.74 | 19.27 | 24.07 |
| Change | - | -19.14% | 32.08% | -5.04% | -3.06% | 27.59% | 8.62% | 24.91% |
| Dividend per Share 1 | 6.55 | 6.52 | 6.63 | 6.67 | - | 6.754 | 6.802 | 6.84 |
| Change | - | -0.46% | 1.69% | 0.6% | - | - | 0.71% | 0.56% |
| Book Value Per Share 1 | 21.09 | 24.31 | 24.63 | 29.48 | - | 40.75 | 47.37 | 55.05 |
| Change | - | 15.24% | 1.3% | 19.71% | - | - | 16.26% | 16.2% |
| EPS 1 | 6.35 | 1.8 | 8.14 | 6.43 | 11.17 | 10.86 | 12.09 | 13.51 |
| Change | - | -71.65% | 352.22% | -21.01% | 73.72% | -2.81% | 11.39% | 11.75% |
| Nbr of stocks (in thousands) | 896,800 | 904,126 | 913,119 | 924,645 | 934,735 | 938,409 | 938,409 | 938,409 |
| Announcement Date | 1/24/22 | 1/25/23 | 1/24/24 | 1/29/25 | 1/28/26 | - | - | - |
| 2026 * | 2027 * | |
|---|---|---|
| P/E ratio | 22.7x | 20.4x |
| PBR | 6.04x | 5.2x |
| EV / Sales | 3.79x | 3.47x |
| Yield | 2.74% | 2.76% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
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