US · USD

IBM

International Business Machines

$219.93-0.03% (-$0.06)Updated 9/30/26, 5:27 PM

Day's range: $218.60 – $222.33
Day's volume: $1B
52-week range: $204.30 – $326.89

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IBM in numbers

Market cap: $207.2B

P/E: 19.32

P/B: 6.01

Dividend yield (12m): 3.06%

The 12-month dividend yield of IBM is 3.06%, below its 5-year average of 3.75%.

IBM price history

10/01/202509/30/2026

Compare with

IBM risk and return

Monthly closes adjusted for splits and distributions.

Metric	12 months	36 months	60 months
Return	-26.60%	+66.78%	+122.66%
Volatility (annualized)	44.98%	35.72%	30.82%
Largest drawdown	-27.28%	-27.28%	-27.28%
Positive months	5/12	21/36	34/60

How much did investing in IBM return?

Amount invested

$1,000.00 invested on 10/01/2021 would be worth $2,226.63 today.

Value today in IBM: $2,226.63

Return over the period: +122.66%

Return per year: +17.38%

In the S&P 500: $1,661.44

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

IBM fundamentals

Valuation

P/E
19.32
P/B
6.01
EV/EBITDA
—
EV/EBIT
—
EV/Revenue
3.79
P/EBIT
—
P/S
3.00
P/OCF
13.92
P/FCF
15.03
Earnings yield
—
PEG ratio
—
Earnings per share
$11.38
Book value per share
$36.57

Debt

Net debt
$54.8B
Net debt/EBITDA
—
Net debt/Equity
1.59
Debt/Equity
1.80
Current ratio
0.79
Quick ratio
0.74
Cash ratio
0.20

Efficiency

Gross margin
58.10%
EBITDA margin
—
Operating margin
—
Net margin
15.52%
Asset turnover
0.45

Profitability

ROE
31.13%
ROA
7.05%
ROIC
—
Payout
59.21%

Growth

Revenue CAGR (5 years)
8.06%
Earnings CAGR (5 years)
14.99%
Revenue growth (year)
—
Earnings growth (year)
—
Revenue growth (quarter)
—
Earnings growth (quarter)
—

What is IBM's fair price?

Two classic value formulas, with today's numbers. The current price is $219.93.

Graham's fair price: $96.78; 56.00% below the price

√(22.50 × $11.38 × $36.57)

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price: $109.78; 50.08% below the price

$6.59 (5-year average) ÷ 6%

Décio Bazin only bought stocks yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years over 6%.

Graham ignores growth and debt; Bazin assumes past distributions repeat. They are references to compare, not a buy recommendation.

IBM's indicators by year

Multiples at each year's closing price; margins and returns from that year's statements.

Indicator	2025	2024	2023	2022	2021	2020	2019	2018
P/E	26.23	33.84	19.99	77.98	20.93	20.12	12.63	11.59
P/B	8.51	7.46	6.65	5.82	6.36	5.46	5.71	6.02
Dividend yield	2.27%	3.03%	4.05%	4.68%	4.74%	5.17%	4.80%	5.46%
Earnings per share	$11.29	$6.50	$8.18	$1.81	$6.39	$6.26	$10.62	$9.81
Book value per share	$34.80	$29.45	$24.58	$24.19	$21.02	$23.05	$23.46	$18.87
ROE	32.45%	22.06%	33.29%	7.47%	30.38%	27.14%	45.25%	51.96%
Gross margin	58.19%	56.65%	55.45%	54.00%	54.90%	55.94%	54.64%	46.41%
Net margin	15.69%	9.60%	12.13%	2.71%	10.01%	10.13%	16.34%	10.97%

IBM's financial statements

Line	2025	2024	2023	2022	2021	2020
Net revenue	$67.5B	$62.8B	$61.9B	$60.5B	$57.4B	$55.2B
Cost of revenue	-$28.2B	-$27.2B	-$27.6B	-$27.8B	-$25.9B	-$24.3B
Gross profit	$39.3B	$35.6B	$34.3B	$32.7B	$31.5B	$30.9B
EBITDA	—	—	—	—	—	—
EBIT	—	—	—	—	—	—
Financial result	—	—	—	—	—	—
Income before tax	$10.3B	$5.8B	$8.7B	$1.2B	$4.8B	$2.6B
Income tax	$242M	$218M	-$1.2B	$626M	-$124M	$1.4B
Net income	$10.6B	$6B	$7.5B	$1.6B	$5.7B	$5.6B

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does IBM pay dividends?

Dividend yield per year

3.85%2017
5.46%2018
4.80%2019
5.17%2020
4.74%2021
4.68%2022
4.05%2023
3.03%2024
2.27%2025
2.30%2026

Payment history
Type	Last day to own	Payment	Per share
Dividend	08/07/2026	09/10/2026	$1.69
Dividend	05/07/2026	06/10/2026	$1.69
Dividend	02/09/2026	03/10/2026	$1.68
Dividend	11/07/2025	12/10/2025	$1.68
Dividend	08/07/2025	09/10/2025	$1.68
Dividend	05/08/2025	06/10/2025	$1.68
Dividend	02/07/2025	03/10/2025	$1.67
Dividend	11/11/2024	12/10/2024	$1.67
Dividend	08/08/2024	09/10/2024	$1.67
Dividend	05/08/2024	06/10/2024	$1.67
Dividend	02/07/2024	03/09/2024	$1.66
Dividend	11/08/2023	12/09/2023	$1.66

See all 40 distributions

Earlier distributions
Type	Last day to own	Payment	Per share
Dividend	08/08/2023	09/09/2023	$1.66
Dividend	05/08/2023	06/10/2023	$1.66
Dividend	02/08/2023	03/10/2023	$1.65
Dividend	11/08/2022	12/10/2022	$1.65
Dividend	08/08/2022	09/10/2022	$1.65
Dividend	05/06/2022	06/10/2022	$1.65
Dividend	02/09/2022	03/10/2022	$1.64
Dividend	11/08/2021	12/10/2021	$1.64
Dividend	08/06/2021	09/10/2021	$1.57
Dividend	05/06/2021	06/10/2021	$1.57
Dividend	02/08/2021	03/10/2021	$1.56
Dividend	11/06/2020	12/10/2020	$1.56
Dividend	08/06/2020	09/10/2020	$1.56
Dividend	05/06/2020	06/10/2020	$1.56
Dividend	02/06/2020	03/10/2020	$1.55
Dividend	11/06/2019	12/10/2019	$1.55
Dividend	08/07/2019	09/10/2019	$1.55
Dividend	05/08/2019	06/10/2019	$1.55
Dividend	02/06/2019	03/09/2019	$1.50
Dividend	11/07/2018	12/10/2018	$1.50
Dividend	08/08/2018	09/10/2018	$1.50
Dividend	05/08/2018	06/09/2018	$1.50
Dividend	02/07/2018	03/10/2018	$1.43
Dividend	11/08/2017	12/09/2017	$1.43
Dividend	08/07/2017	09/09/2017	$1.43
Dividend	05/05/2017	06/10/2017	$1.43
Dividend	02/07/2017	03/10/2017	$1.34
Dividend	11/07/2016	12/10/2016	$1.34

About International Business Machines

Sector: Manufacturing

Questions about IBM

How much is IBM today?

IBM is at $219.93 (-0.03% on the day), last traded on 09/30/2026.

How much did IBM pay in dividends in 2025?

IBM paid $6.71 per share in 2025, a dividend yield of 2.27%.

What are the P/E and P/B of IBM?

IBM trades at a P/E of 19.32 and a P/B of 6.01.

How much did IBM return in 12 months?

IBM returned -26.60% in 12 months, with annualized volatility of 44.98% and a largest drawdown of -27.28%.