Tools · IBM

International Business Machines Corporation, taken apart.

Four panels built from the reported annual accounts, then the rest of the engine. Every figure below is International Business Machines Corporation’s own filing, not an estimate of ours.

Income statement, four years

Read across, not down. Each line is shown for four fiscal years, so the direction matters more than any single column.

International Business Machines Corporation annual income statement, as reported. Columns are fiscal years, most recent first.
LineFY2025FY2024FY2023FY2022
Revenue$67.54B$62.75B$61.86B$60.53B
Cost of revenue$28.24B$27.20B$27.56B$27.84B
Gross profit$39.30B$35.55B$34.30B$32.69B
Operating expenses$26.80B$25.48B$24.92B$24.51B
Operating income$12.49B$10.07B$9.38B$8.17B
Net income$10.59B$6.02B$7.50B$1.64B
Diluted EPS11.176.438.141.80

Net income moved +545.9% across these years while earnings per share moved +520.6% — less than the profit itself, because the share count changed. Profit split fewer ways is not the same as more profit.

The rest of the engine

The panels above are built from filings. These run against the live engine.