International Business Machines Corporation (IBM) Stock Price & Analysis

International Business Machines Corporation (IBM) closed at USD 252.11 on Thursday, October 22, 2026, up 0.26% on the day. The US market is currently closed (pre-market); this is not a live price.

The prior close was USD 251.46; the Oct 22, 2026 session ranged USD 241.25–256.27 on volume of 11,612,741 shares. Market capitalization is $237.52B, with a 52-week range of USD 199.19–332.46 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:49 UTC.

Also available as compact Markdown for AI agents: nexqual.com/IBM.md

Key facts (IBM)

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (IBM)

USDFY2021FY2022FY2023FY2024FY2025TTM
Revenue$57.4B$60.5B$61.9B$62.8B$67.5B$69.9B
Gross profit$31.5B$32.7B$34.3B$35.6B$39.3B—
Net income$5.74B$1.64B$7.50B$6.02B$10.6B$11.2B
EPS (diluted)$6.35$1.80$8.14$6.43$11.17—
Free cash flow$10.7B$9.09B$12.7B$12.4B$12.1B$14.7B
Gross margin54.9%54.0%55.4%56.7%58.2%—
Net margin10.0%2.7%12.1%9.6%15.7%16.0%
Revenue growth+3.9%+5.5%+2.2%+1.4%+7.6%—
Cash + short-term investments$7.25B$8.74B$13.4B$14.6B$14.4B—
Total debt$51.7B$50.9B$56.5B$55.0B$61.3B—

Fiscal years end Dec. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Sep 30, 2026) (IBM)

P/E 21.3x · P/S 3.4x · EV/Sales 4.2x · P/FCF 16.2x · P/B 6.7x · FCF yield 6.17% · Earnings yield 4.70% · Dividend yield (paid, TTM) 2.67% · Net debt $52.8B · EV $290B

P/E at fiscal year-ends: Dec 2025 26.5x, Dec 2024 34.2x, Dec 2023 20.1x.

Superinvestors (SEC 13F-HR, Q2 2026) (IBM)

4 of 80 tracked investors hold IBM. Each row is the investor's latest 13F; change is vs their prior-quarter share count.

InvestorFirm% of portfolioValueChange
Van Den Berg Management I2.36%$11.2MAdded +7.5%
Kahn BrothersKahn Brothers Group0.05%$298KUnchanged
Dodge & Cox FundsDodge & Cox0.01%$12.9MReduced -1.3%
Mairs & PowerMairs & Power Funds0.01%$1.0MUnchanged

Insider sales (SEC Form 4, open-market, last ~7 months) (IBM)

0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

Trade dateInsiderRoleSharesValue% of holdings sold10b5-1 planInsider type
2026-08-26Thomas Robert DavidSenior Vice President25,000$5.8M34.3%NoToo little history (no open-market trades in 2023 or 2024)

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Analysts (IBM)

Consensus Hold (mean 2.52 on a 1–5 scale), 25 analysts; mean target USD 257.22 (low 174, high 300).

Rating changes, last 120 days:

DateFirmActionRatingPrice target
2026-10-22JefferiesTarget raisedBuy$270 → $280
2026-10-22UBSTarget raisedNeutral$236 → $243
2026-10-22CitigroupTarget raisedBuy$245 → $280
2026-10-22Morgan StanleyTarget raisedEqual-Weight$238 → $240
2026-10-22BMO CapitalTarget raisedMarket Perform$230 → $265
2026-10-22BarclaysTarget raisedOverweight$262 → $277
2026-10-22RBC CapitalReiteratedOutperform$270
2026-10-22JP MorganTarget raisedOverweight$250 → $269
2026-10-22StifelTarget raisedBuy$235 → $260
2026-10-22SusquehannaTarget raisedNeutral$235 → $256
2026-10-22BairdTarget raisedNeutral$230 → $260
2026-10-15Morgan StanleyTarget raisedEqual-Weight$190 → $238

Total return (dividends reinvested) (IBM)

1Y (from 2025-10-23)5Y (from 2021-10-18)
Total return-9.2%+149.7%
S&P 500 (SPY)+14.9%+80.3%
Per year-9.3%+20.0%
Volatility (annualized)51.1%31.0%
Max drawdown-37.5% (Jun 2026→Jul 2026)-30.3% (Dec 2025→Jul 2026)

IBM revenue by business segment (quarter ended Sep 30, 2026)

LineRevenueShare of totalYoY
Software$7.80B45.6%+8.3%
Consulting$5.33B31.2%+0.2%
Infrastructure$3.71B21.7%+4.2%
Financing$192.0M1.1%-4.0%
Total revenue$17.10B100%—

IBM revenue by product line (quarter ended Sep 30, 2026)

LineRevenueShare of totalYoY
Sales$8.91B52.1%+6.0%
— Strategy and Technology (part of Sales)$2.96B17.3%+2.1%
— Transaction Processing (part of Sales)$2.11B12.3%+9.4%
— Hybrid Cloud (part of Sales)$2.09B12.2%+10.6%
— Data (part of Sales)$1.74B10.2%+19.1%
Services$8.00B46.8%+3.6%
Hybrid Infrastructure$2.45B14.3%+8.4%
Intelligent Operations$2.37B13.9%-2.0%
Automation$1.87B10.9%-3.3%
Infrastructure Support$1.25B7.3%-3.2%
Financing$192.0M1.1%-4.0%
Total revenue$17.10B100%—

IBM revenue by region (quarter ended Sep 30, 2026)

LineRevenueShare of totalYoY
Americas$8.58B50.1%+5.3%
Europe/Middle East/Africa$5.43B31.7%+3.3%
Asia Pacific$3.10B18.1%+5.6%
Total revenue$17.10B100%—

As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).

IBM suppliers, customers and competitors (named in its 10-K)

RelationshipCompanySentence in the filing
PartnerAmazon (AMZN)“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
PartnerMicrosoft (MSFT)“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
PartnerOracle (ORCL)“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
PartnerSalesforce (CRM)“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
PartnerSAP (SAP)“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
PartnerAdobe (ADBE)“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
PartnerSamsung Electronics“Our strategic partners include: Adobe, Amazon Web Services (AWS), Microsoft, Oracle, Palo Alto Networks, Salesforce, Samsung Electronics and SAP, among others.”
CompetitorAlphabet (Google) (GOOGL)“The principal competitors in this segment include: Alphabet (Google), Amazon, BMC, Broadcom, Microsoft, Oracle, Salesforce, SAP and Splunk, a CISCO Company.”
CompetitorBroadcom (AVGO)“The principal competitors in this segment include: Alphabet (Google), Amazon, BMC, Broadcom, Microsoft, Oracle, Salesforce, SAP and Splunk, a CISCO Company.”
CompetitorAccenture (ACN)“Our competitors include global firms such as Accenture, Capgemini, India-based service providers, management consulting firms, the consulting practices of public accounting firms, engineering service providers, and niche specialists.”
CompetitorDell Technologies (DELL)“Our principal competitors include: Dell Technologies, Hewlett-Packard Enterprise (HPE), Intel, NetApp and Pure Storage as well as original device manufacturers (ODMs) who provide systems that are re-branded.”
CompetitorHewlett Packard Enterprise (HPE)“Our principal competitors include: Dell Technologies, Hewlett-Packard Enterprise (HPE), Intel, NetApp and Pure Storage as well as original device manufacturers (ODMs) who provide systems that are re-branded.”
CompetitorIntel (INTC)“Our principal competitors include: Dell Technologies, Hewlett-Packard Enterprise (HPE), Intel, NetApp and Pure Storage as well as original device manufacturers (ODMs) who provide systems that are re-branded.”

Quoted from the company's 10-K filed Feb 24, 2026.

Companies that name IBM in their SEC reports

Relationship to IBMCompanyFilingSentence
customerPenguin Solutions, Inc. (PENG)10-K Oct 20, 2026“Our semiconductor suppliers include many of the world's largest memory manufacturers, including Samsung Semiconductor, Inc., Micron Technology, Inc., SK hynix, Inc., International Business Machines Corporation, and Kioxia Holdings Corporation.”
competitorCLPS Inc (CLPS)20-F Oct 16, 2026“To date, we do not typically compete directly with the larger global consulting and outsourcing firms, such as Accenture, Capgemini, Hewlett-Packard and IBM, who are typically engaged in conjunction with large global projects.”
supplierAgroz Inc. (AGRZ)20-F Sep 28, 2026“Redpill Solutions (later sold to IBM), a customer management service company.”
supplierPalo Alto Networks Inc (PANW)10-K Sep 10, 2026“On August 31, 2024, we completed the acquisition of certain IBM QRadar assets, including certain intellectual property rights, customer relationships, and software as a service customer contracts.”
competitorOPEN TEXT CORP (OTEX)10-K Aug 6, 2026“We compete with large enterprise technology providers, including International Business Machines Corporation (IBM), Microsoft Corporation (Microsoft), Oracle Corporation (Oracle) and ServiceNow, Inc. (ServiceNow), as well as with specialized software vendors such as Box, Inc., Hyland Software, Inc., Atlassian Corporation, Gen Digital Inc. and Adobe Inc. In certain markets, OpenText competes with Microsoft, who is …”
partnerRoadzen Inc. (RDZN)10-K Jun 29, 2026“Actian (transaction value USD 330 million), carve-outs of multiple IBM product suites, a joint venture between HCL and CSC, and an acquisition”
competitorSIFY TECHNOLOGIES LTD (SIFY)20-F Jun 26, 2026“Individually, we expect to see competition intensify from established players like Reliance Jio, TATA Communications and Bharti for telecommunications services, Ctrl S, STT, Nxtra and Net Magic for Data Centers, proprietary leaders like IBM and localized players like Ramco for Cloud services, and traditional software leaders like Infosys, HP, Wipro and TCS for Applications Integration services.”
competitorQUANTUM CORP /DE/ (QMCO)10-K Jun 25, 2026“Our primary storage solutions, including object storage systems, primarily face competition from the EMC business unit of Dell Inc. ("Dell"), International Business Machines Corporation, ("IBM"), NetApp, Inc., and other enterprise storage vendors in the markets we serve.”
competitorORACLE CORP (ORCL)10-K Jun 22, 2026“Our enterprise cloud, software and hardware offerings compete directly with certain offerings from some of the largest and most competitive companies in the world, including Adobe Systems Incorporated, Alphabet Inc., Amazon.com, Inc., Cisco Systems, Inc., Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Salesforce, Inc. and SAP SE, as well as other companies like Hewlett-Packa…”
partnerWIPRO LTD (WIT)20-F Jun 2, 2026“Our top strategic partners include hyperscalers, industry-leading platforms, and AI-native companies like Amazon Web Services, Microsoft, Google, IBM, SAP, ServiceNow, and NVIDIA.”
customerKyndryl Holdings, Inc. (KD)10-K May 29, 2026“As part of our ongoing cash and commercial management strategy with customers and suppliers and as previously disclosed, our standard practice since the time of our spin-off from IBM is to actively manage our working capital, including accounts receivables and accounts payables.”
competitorNETSCOUT SYSTEMS INC (NTCT)10-K May 14, 2026“In the enterprise market, our competitors include companies who provide network observability, application performance management, infrastructure performance management and other related solutions such as CA Technologies (a Broadcom Inc. business), Cisco Systems, Dynatrace, Datadog, ExtraHop, IBM, Infovista, Viavi, Gigamon, New Relic, Riverbed Technology, and SolarWinds.”
competitorFORMULA SYSTEMS (1985) LTD (FORTY)20-F May 13, 2026“governance, risk and compliance (GRC), Matrix competes with large global corporations such as IBM, Accenture and Oracle, as well as the”
partnerUNITED MICROELECTRONICS CORP (UMC)20-F Apr 30, 2026“We also joined the IBM chip alliance, for advanced process development.”
competitorNvni Group Ltd (NVNI)20-F Apr 30, 2026“Principal competitors include Globant, Endava, EPAM Systems, Thoughtworks, Tata Consultancy Services, Infosys, Wipro, Accenture, IBM”

IBM company outlook (results filed Oct 21, 2026)

Quoted word-for-word from the SEC 8-K results press release.

IBM analyst estimates and revisions

PeriodEPS estimate90 days agoChangeRevenue estimateAnalysts
Current quarter (ends Dec 2026)$4.63$4.61+0.5%$20.39B19
Next quarter (ends Mar 2027)$2.14$2.14+0.2%$16.55B14
Current fiscal year (ends Dec 2026)$12.42$12.33+0.7%$70.56B22
Next fiscal year (ends Dec 2027)$13.23$13.21+0.2%$73.22B24

IBM options: expected move

ExpirationDaysATM implied volatilityExpected move
Oct 30, 2026741.3%±4.9%
Nov 6, 20261437.0%±6.1%
Nov 13, 20262135.7%±7.2%
Nov 20, 20262835.3%±8.0%
Nov 27, 20263534.5%±8.7%
Dec 4, 20264234.2%±9.4%
Dec 18, 20265634.4%±10.9%
Jan 15, 20278433.5%±12.9%

30-day implied volatility 34.8% vs 31.8% realized over the last 30 trading days. Put/call ratio (volume) 0.64. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 23, 2026 at 09:49 UTC)

PriceUSD 252.11
Change▲ 0.26% (up)
Previous CloseUSD 251.46
OpenUSD 241.25
Day RangeUSD 241.25 – 256.27
52-Week RangeUSD 199.19 – 332.46
Volume11,612,741 shares
Market Cap$237.52B
ExchangeNYQ

Technical Analysis (IBM)

Nexqual's technical model rates IBM "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:49 UTC.

Overall SignalBUY
RSI (14)69.57 (neutral)
vs SMA50Above (USD 232.71)
MACD3.75 (positive)

Analyst Ratings (IBM)

Wall Street analysts rate IBM "Hold" based on 25 analysts, with a mean price target of USD 257.22 (range USD 174–300), per Nexqual as of October 23, 2026 at 09:49 UTC.

Consensus RatingHold
Analyst Count25
Mean TargetUSD 257.22
High TargetUSD 300
Low TargetUSD 174
Buy / Hold / Sell12 / 11 / 2

Earnings (IBM)

Next Earnings Date2026-10-21
EPS EstimateUSD 4.63
Revenue Estimate$20.39B

Recent Earnings History

QuarterActual vs Estimate
2026-09-30USD 2.95 vs est 2.87 ▲ beat
2026-06-30USD 2.93 vs est 2.93 ▼ miss
2026-03-31USD 1.91 vs est 1.81 ▲ beat
2025-12-31USD 4.52 vs est 4.29 ▲ beat

Source: Nexqual, October 23, 2026 at 09:49 UTC.

Financials & Fundamentals (IBM)

Total Revenue$69.09B
Revenue Growth (latest quarter, YoY)+1.10%
Gross Margin+58.10%
Operating Margin+16.55%
Profit Margin+15.52%
ROE+34.46%
Debt / Equity1.89
Current Ratio0.79
Total Cash$8.13B
Total Debt$65.27B
Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K)$14.66B (21.0% of revenue)

Source: Nexqual, October 23, 2026 at 09:49 UTC.

Financial Health Score (IBM)

Nexqual rates International Business Machines Corporation's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:49 UTC.

GrowthSolid — Revenue +8% YoY (annual)
ProfitabilityStrong — Gross margin 58%, operating 17% (last 12 months)
Balance SheetCritical — $11.1B cash and investments vs $63.8B debt (Sep 2026, SEC)
Cash FlowStrong — FCF $14.7B (last 4 quarters to Sep 2026, SEC), 21% margin
EfficiencyStrong — ROE 34%, ROA 5.3%

Ownership (IBM)

Insider Ownership+0.10%
Institutional Ownership+66.54%
Shares Outstanding942.13M
Float940.19M
Short % of Float+2.85%

Source: Nexqual, October 23, 2026 at 09:49 UTC.

Leadership (IBM)

International Business Machines Corporation is led by Arvind Krishna, CEO, President & Chairman, per Nexqual as of October 23, 2026 at 09:49 UTC.

CEO, President & ChairmanArvind Krishna
CFO and Senior VP of Finance & OperationsJames J. Kavanaugh
Executive Vice ChairmanGary D. Cohn
Senior Vice President of Strategy and Mergers & AcquisitionsAlexander Franz Stern

Major Backers & Investors (IBM)

Notable institutional backers of International Business Machines Corporation include Morgan Stanley, Capital Group, Bank of America Corporation, according to Nexqual as of October 23, 2026 at 09:49 UTC.

Active Investors

InvestorStake
Morgan Stanley1.85%
Capital Group1.72%
Bank of America Corporation1.59%
JPMorgan1.32%
Fidelity1.29%

Index Funds (Passive)

FundStake
Vanguard Group9.53%
BlackRock8.15%
State Street5.95%
Geode Capital2.49%
Northern Trust1.09%

Source: Nexqual, October 23, 2026 at 09:49 UTC.

From International Business Machines Corporation's Latest SEC 10-K Filing (filed 2026-02-24)

Key Strengths & Strategy (as disclosed to the SEC)

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

SymbolNamePriceChange
ACNAccenture plcUSD 258.74▲ 7.69%
INFYInfosys LimitedUSD 13.22▲ 3.69%
CTSHCognizant Technology Solutions USD 73.72▲ 6%
FISVFiserv, Inc.USD 50.82▲ 5.41%
WITWipro LimitedUSD 2.19▲ 1.86%
BRBroadridge Financial Solutions,USD 186.12▲ 4.39%

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:49 UTC. This page is informational and not investment advice.

For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt