IBM
Enterprise software, consulting, and infrastructure for hybrid cloud, AI, and mission-critical computing.
Something off on this page? Send us feedback.
Profile
Combines Red Hat hybrid-cloud software, watsonx and Confluent data and AI tools, HashiCorp automation, transaction-processing products, technology consulting, and IBM Z, Power, and storage systems. Revenue comes from software, services, hardware, support, and financing, anchored in large organizations' mission-critical workloads and technology budgets.
Provides enterprise software, consulting, infrastructure, and financing through four reportable segments. Software spans Red Hat hybrid cloud, HashiCorp automation, watsonx and Confluent data and AI tools, and transaction-processing products. Consulting combines strategy and technology services with intelligent operations, while Infrastructure supplies IBM Z mainframes, Power servers, storage, and lifecycle support.
Serves enterprises and public-sector organizations across the Americas, Europe, and Asia-Pacific, linking its own products with partner platforms to modernize and operate critical workloads across on-premises and cloud environments. Long-lived mainframe installations and software and support contracts anchor customer relationships, while demand remains tied to enterprise technology budgets, hardware product cycles, specialized talent, suppliers, and the integration of acquired businesses.
Company facts
Key statistics
Year to date −19.2% · Average volume (30d) 7.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 19, 2026 | Craig-Hallum | Initiate | Buy | ||
| Jul 24, 2026 | Susquehanna | Reiterate | Neutral | $303 | $225 |
| Jul 23, 2026 | BMO Capital | Reiterate | Market Perform | $270 | $230 |
| Jul 23, 2026 | Goldman Sachs | Target | $250 | $270 | |
| Jul 23, 2026 | Morgan Stanley | Reiterate | Equal Weight | $293 | $190 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $2.93 | $2.93 | 0.0% | $17.46B | $17.16B | −1.7% | +0.43% |
| Apr 22, 2026Q1 FY26 | $1.81 | $1.91 | +5.5% | $15.63B | $15.92B | +1.8% | −8.25% |
| Jan 28, 2026Q4 FY25 | $4.31 | $4.52 | +4.9% | $19.19B | $19.69B | +2.6% | +5.13% |
| Oct 22, 2025Q3 FY25 | $2.45 | $2.65 | +8.2% | $16.09B | $16.33B | +1.5% | −0.87% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.54B | $16.98B | $16.33B | $19.69B | $15.92B | $17.16B | |
| Gross profit | $8.03B | $9.98B | $9.59B | $11.93B | $8.95B | $9.91B | |
| Operating income | $1.77B | $3.09B | $2.66B | $4.85B | $2.22B | $2.62B | |
| Net income | $1.06B | $2.19B | $1.74B | $5.60B | $1.22B | $2.17B | |
| Diluted EPS | $1.12 | $2.31 | $1.84 | $5.88 | $1.28 | $2.30 | |
| Gross margin | 55.2% | 58.8% | 58.7% | 60.6% | 56.2% | 57.7% | |
| Operating margin | 12.1% | 18.2% | 16.3% | 24.6% | 13.9% | 15.2% |
Fiscal years (4-quarter sums)FY21 $57.35B · FY22 $60.53B · FY23 $61.86B · FY24 $62.75B · FY25 $67.54B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $8.13B · Total debt $65.27B · Total assets $152.10B · Shareholders' equity $34.45B
Dividends
Raised for 31 straight years — most recently to $1.69 from $1.68 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 10, 2026 | Aug 10 | Sep 10 | $1.69 | |
| May 8, 2026 | May 8 | Jun 10 | $1.69 | raised from $1.68 |
| Feb 10, 2026 | Feb 10 | Mar 10 | $1.68 | |
| Nov 10, 2025 | Nov 10 | Dec 10 | $1.68 | |
| Aug 8, 2025 | Aug 8 | Sep 10 | $1.68 | |
| May 9, 2025 | May 9 | Jun 10 | $1.68 | raised from $1.67 |
| Feb 10, 2025 | Feb 10 | Mar 10 | $1.67 | |
| Nov 12, 2024 | Nov 12 | Dec 10 | $1.67 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 942.13M · Float 940.14M · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 76.76M | 8.15% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 61.39M | 6.52% | 13F | Aug 13, 2026 |
| State Street Corp | 56.05M | 5.95% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 28.35M | 3.01% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 23.45M | 2.49% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | Robert David Thomas | officer: Senior Vice President | −25,000 | $230.32 |
| Feb 25, 2026 | Michael Miebach | director | +434 | $233.33 |
| Feb 25, 2026 | Michelle J. Howard | director | +50 | $237.83 |
| Jan 30, 2026 | David N. Farr | director | +1,000 | $304.00 |
Peers
- Microsoft
Broadest rival: Azure, Copilot, and Microsoft Consulting all overlap IBM.
- Accenture
Largest consulting rival, competing for enterprise AI and cloud transformation.
- Amazon
AWS contests IBM hybrid cloud and AI deployments across enterprise accounts.
- Alphabet Class A
Google Cloud and Vertex AI challenge IBM hybrid cloud and watsonx AI.
- Oracle
Principal rival in enterprise database, cloud infrastructure, and ERP software.
- SAP (ADR)
Enterprise software rival contesting IBM automation and AI at Fortune 500.
- Hewlett Packard Enterprise
Primary Infrastructure rival: GreenLake contests IBM servers and storage.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| IBM | $235.80 | +0.10% | $221.96B | 20.8 | 18.4 | 3.2 | +1.1% |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Accenture | $189.20 | −0.17% | $116.03B | 15.1 | 13.2 | 1.6 | +5.6% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Oracle | $150.95 | +0.17% | $434.14B | 25.9 | 18.7 | 6.4 | +20.6% |
| SAP (ADR) | $220.80 | −0.39% | $258.15B | 28.1 | 23.9 | 5.8 | +5.8% |
| Hewlett Packard Enterprise | $52.56 | +0.50% | $69.26B | 49.8 | 13.4 | 1.8 | +40.0% |
| Median | 25.9 | 23.9 | 5.8 | +19.6% |