IBM financials
International Business Machines Corporation · end-of-day data as of Oct 16, 2026
International Business Machines Corporation
$232.14+9.2%
Hold · 25 analystsPT $263.78 +13.6%
IBM reported revenue of $17.16B for the quarter ended Jun 30, 2026 (Q2 FY2026), up 1.1% from a year earlier. It posted diluted EPS of $2.30, free cash flow of $2.37B and a net margin of 12.6%.
Valuation
- P/E20.5x
- P/E vs own-22.9%
- P/E vs sector-38.5%
- FCF yield+6.2%
- Market cap$219B
Quarterly results
Q2 FY2026: Revenue +1.1% year over year, free cash flow 13.8% of revenue, operating margin 15.2%.
RevenueFree cash flow
| Q2 FY2026 | Jun 30, 2026 | $17.16B | 2.30 | $2.37B | 57.7% | 15.2% | 12.6% |
| Q1 FY2026 | Mar 31, 2026 | $15.92B | 1.28 | $4.78B | 56.2% | 13.9% | 7.6% |
| Q4 FY2025 | Dec 31, 2025 | $19.69B | 5.88 | $3.66B | 60.6% | 24.6% | 28.4% |
| Q3 FY2025 | Sep 30, 2025 | $16.33B | 1.84 | $2.83B | 58.7% | 16.3% | 10.7% |
| Q2 FY2025 | Jun 30, 2025 | $16.98B | 2.31 | $1.49B | 58.8% | 18.2% | 12.9% |
| Q1 FY2025 | Mar 31, 2025 | $14.54B | 1.12 | $3.98B | 55.2% | 12.1% | 7.3% |
| Q4 FY2024 | Dec 31, 2024 | $17.55B | 3.09 | $3.89B | 59.5% | 22.2% | 16.6% |
| Q3 FY2024 | Sep 30, 2024 | $14.97B | -0.36 | $2.46B | 56.3% | 14.5% | -2.2% |
| Q2 FY2024 | Jun 30, 2024 | $15.77B | 1.96 | $1.62B | 56.8% | 15.4% | 11.6% |
| Q1 FY2024 | Mar 31, 2024 | $14.46B | 1.72 | $3.79B | 53.5% | 10.8% | 11.1% |
| Q4 FY2023 | Dec 31, 2023 | $17.38B | 3.55 | $4.01B | 59.1% | 23.0% | 18.9% |
| Q3 FY2023 | Sep 30, 2023 | $14.75B | 1.84 | $2.66B | 54.4% | 14.3% | 11.6% |