Company Valuation: IBM

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 119,866 127,382 149,341 203,265 276,878 239,645 - -
Change - 6.27% 17.24% 36.11% 36.22% -13.45% - -
Enterprise Value (EV) 1 164,013 169,490 192,426 243,433 323,667 288,010 275,424 271,542
Change - 3.34% 13.53% 26.51% 32.96% -11.02% -4.37% -1.41%
P/E 21x 78.3x 20.1x 34.2x 26.5x 25.4x 22.6x 19.8x
PBR 6.34x 5.8x 6.64x 7.46x 8.5x 6.24x 5.38x 4.64x
PEG - -1.1x 0x -1.6x 0.4x -2.4x 1.8x 1.4x
Capitalization / Revenue 2.09x 2.1x 2.41x 3.24x 4.1x 3.4x 3.27x 3.1x
EV / Revenue 2.86x 2.8x 3.11x 3.88x 4.79x 4.08x 3.76x 3.52x
EV / EBITDA - 11.5x 12.5x 14.8x 16.9x 14.2x 12.8x 11.8x
EV / EBIT - 17.1x 17.4x 21.6x 22.9x 19.3x 17.2x 15.3x
EV / FCF 25.2x 18.2x 17.2x 19.1x 22x 18.4x 16.2x 14.6x
FCF Yield 3.97% 5.48% 5.83% 5.24% 4.55% 5.42% 6.16% 6.86%
Dividend per Share 2 6.55 6.52 6.63 6.67 6.71 6.763 6.82 6.951
Rate of return 4.9% 4.63% 4.05% 3.03% 2.27% 2.67% 2.69% 2.74%
EPS 2 6.35 1.8 8.14 6.43 11.17 9.997 11.23 12.79
Distribution rate 103% 362% 81.4% 104% 60.1% 67.7% 60.7% 54.3%
Net sales 1 57,350 60,530 61,860 62,753 67,535 70,561 73,219 77,211
EBITDA 1 - 14,739 15,447 16,400 19,200 20,299 21,577 22,961
EBIT 1 - 9,937 11,052 11,263 14,126 14,889 15,982 17,719
Net income 1 5,743 1,639 7,502 6,023 10,593 9,559 11,166 12,534
Net Debt 1 44,147 42,108 43,085 40,168 46,789 48,365 35,779 31,897
Reference price 2 133.66 140.89 163.55 219.83 296.21 253.44 253.44 253.44
Nbr of stocks (in thousands) 896,800 904,126 913,119 924,645 934,735 945,121 - -
Announcement Date 1/24/22 1/25/23 1/24/24 1/29/25 1/28/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
25.36x4.08x14.19x2.67% 240B
23.79x4.98x12.21x0.7% 205B
17.03x1.93x9.96x2.78% 147B
-561.92x39.94x164.06x-.--% 116B
-128.1x17.78x97.77x-.--% 115B
16.5x2.98x11.48x4.88% 96.43B
23.56x6.08x14.93x2.4% 70.72B
25.06x2.08x13.2x1.24% 49.53B
15.2x2.2x9.34x5.14% 49.23B
23.32x1.79x11.24x0.8% 45.59B
Average -52.02x 8.38x 35.84x 2.06% 113.37B
Weighted average by Cap. -53.02x 8.79x 36.51x 1.92%

Y-o-Y evolution of P/E

Valuation ratios - P/E - IBM

Historical PBR trend

Valuation ratios - PBR - IBM

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - IBM

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - IBM


Year-on-year evolution of the Yield

Valuation ratios - Yield - IBM