International Business Machines

Technology · Information Technology Services

227.10$ -2.4% vs. previous close Closing price · As of: Sep 24, 2026

Statements

Cash Flow

International Business Machines (IBM) by the numbers: income statement, balance sheet and cash flow, by year or by quarter. In the most recent period (2025), "Operating Cash Flow" came in at 13,193 million USD. Tick rows to compare them in a chart.

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Amounts Change % Common size % Per share

Last 12 Full history

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All figures in millions of USD.

Tick rows to compare them in a chart (up to 4)

Cash Flow IBM
Line item	1996	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	10,275	8,865	9,273	10,111	9,274	14,021	13,788	14,407	15,406	14,914	15,019	16,089	18,812	20,773	19,549	19,846	19,586	17,485	16,868	17,255	17,084	16,724	15,247	14,770	18,197	12,796	10,435	13,432	13,445	13,193
Depreciation & Amortization	5,012	5,001	4,992	6,585	4,995	4,506	4,493	4,701	4,915	5,188	4,983	5,201	5,450	4,994	4,831	4,815	4,676	4,678	4,492	3,855	4,381	4,541	4,480	6,059	6,695	6,416	4,802	4,381	4,667	5,021
Stock-Based Compensation	-300	-273	-261	–	–	–	-1,755	-30	-420	1,043	846	713	659	558	629	697	688	614	512	468	544	534	510	679	937	982	987	1,091	1,311	1,715
Adjustments to Net Income	–	–	–	–	–	–	–	–	–	–	–	–	–	1,936	1,122	1,567	756	-1,232	2,121	2,407	-588	-397	1,363	-848	-2,266	983	4,033	–	–	–
Change in Working Capital	1,179	-1,869	-825	1,318	-3,051	585	2,963	1,354	362	56	-1,780	-890	-1,193	418	-1,237	-2,390	-2,449	-2,446	-1,766	-2,196	1,357	6,813	554	1,225	4,974	-346	-2,887	3,913	1,313	-3,139
Capital Expenditures	6,178	7,107	6,770	6,423	6,181	5,400	5,350	4,393	5,056	4,634	5,166	5,505	4,887	4,077	4,754	4,667	4,717	4,140	4,183	4,151	4,150	3,773	3,964	2,907	3,042	2,381	1,860	1,918	1,685	1,091
Investing Cash Flow	-5,723	-6,155	-6,131	-1,669	-4,248	-6,106	-6,897	-5,122	-5,346	-4,423	-11,549	-4,675	-9,285	-6,729	-8,507	-4,396	-9,000	-7,300	-3,000	-8,200	-10,536	-7,096	-4,913	-26,936	-3,028	-5,975	-4,202	-7,070	-4,937	-10,302
Dividends Paid	706	783	834	879	929	966	1,005	1,085	1,174	1,250	1,683	2,147	2,585	2,860	3,177	3,473	3,773	4,100	4,300	4,900	5,256	5,506	5,666	5,707	5,797	5,869	5,948	6,016	6,147	6,255
Stock Buybacks / Issuance	-5,005	-6,250	-6,278	-7,300	-6,700	-3,906	-3,087	4,300	-7,100	-7,700	-8,100	-18,828	-10,578	-7,429	-15,375	-15,046	-11,995	-13,859	-13,679	-4,857	-3,628	-4,533	-4,614	-1,633	-210	-319	-407	-416	-651	-1,018
Net Borrowings	–	–	–	–	–	–	–	–	–	–	–	–	–	-7,463	2,350	2,370	2,252	6,961	1,783	19	2,763	3,447	-301	16,284	-3,714	-8,116	1,221	4,497	-880	2,873
Financing Cash Flow	-3,952	-3,090	-4,993	-8,625	-6,359	-5,309	-7,265	-7,798	-7,619	-7,147	-8,204	-4,740	-11,834	-14,700	-12,429	-13,696	-11,976	-9,883	-15,452	-9,413	-5,917	-6,418	-10,469	9,042	-9,721	-13,354	-4,958	-6,016	-7,079	-3,829
Change in Cash	428	-581	-1,731	-332	-1,480	2,767	-948	1,908	2,763	2,515	-4,546	6,969	-2,250	-558	-1,522	1,261	-1,500	300	-2,200	-800	140	4,146	-630	-3,291	5,361	-6,718	1,031	7,416	1,071	-520
Free Cash Flow	4,097	1,758	2,503	3,688	3,093	8,621	8,438	10,014	10,350	10,280	9,853	10,584	13,925	16,696	14,795	15,179	14,869	13,345	12,685	13,104	12,934	12,951	11,283	11,863	15,155	10,415	8,575	13,432	11,760	12,102

Data as of: September 24, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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