International Business Machines (IBM) FCF Margin (2009 - 2026)
International Business Machines' FCF Margin was 13.80% in Q2 2026, up 5.02 percentage points from 8.78% a year earlier but down 17.22 percentage points from the prior quarter.
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Analysis
International Business Machines (IBM) FCF Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, International Business Machines' FCF Margin was 19.96% through Jun 30, 2026, up 0.85 percentage points year-over-year; for FY2025, it came in at 17.92%, down 1.84 percentage points from FY2024.
- FCF Margin shows a five-year change of -10.31 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was 19.76% in FY2024 (-0.75 pp), 20.51% in FY2023 (+5.49 pp), 15.02% in FY2022 (-3.70 pp) and 18.72% in FY2021 (-9.52 pp).
- Quarterly FCF Margin has moved between 6.32% (Q2 2022) and 31.02% (Q1 2026) over five years.
- Compared with a year earlier, FCF Margin was higher in three of the last eight quarters, with an average year-over-year change of -0.12 percentage points.
- The best year-over-year quarter for FCF Margin over five years was Q4 2022 (a gain of 8.76 percentage points); the worst was Q4 2021 (a drop of 256.51 percentage points).
- Per Business Quant data, IBM's FCF Margin in the three quarters before Q2 2026 was 31.02% (Q1 2026), 18.58% (Q4 2025) and 17.31% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,843.70 Bn | 3,766.85 Bn | 60.48 Bn | 21.82% |
| 2 | International Business Machines | 209.74 Bn | 160.64 Bn | 9.91 Bn | 13.80% |
| 3 | Cloudflare | 112.41 Bn | 95.94 Bn | 499.52 Mn | 9.71% |
| 4 | Equinix | 101.21 Bn | 89.76 Bn | 1.40 Bn | -19.47% |
| 5 | Nebius | 61.44 Bn | 34.87 Bn | 448.70 Mn | 1,357.29% |
| 6 | CoreWeave | 49.38 Bn | 36.47 Bn | 1.70 Bn | -223.03% |
| 7 | Verisign | 26.06 Bn | 23.28 Bn | 384.60 Mn | 48.96% |
| 8 | Nutanix | 19.56 Bn | 11.24 Bn | 651.35 Mn | 36.66% |
| 9 | Akamai Technologies | 15.64 Bn | 9.05 Bn | 613.75 Mn | 16.49% |
| 10 | DigitalOcean Holdings | 14.71 Bn | 12.71 Bn | 154.66 Mn | 24.32% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.80% |
| Mar 31, 2026 | 31.02% |
| Dec 31, 2025 | 18.58% |
| Sep 30, 2025 | 17.31% |
| Jun 30, 2025 | 8.78% |
| Mar 31, 2025 | 28.37% |
| Dec 31, 2024 | 22.94% |
| Sep 30, 2024 | 17.34% |
| Jun 30, 2024 | 11.71% |
| Mar 31, 2024 | 27.17% |
| Dec 31, 2023 | 23.95% |
| Sep 30, 2023 | 18.81% |
| Jun 30, 2023 | 14.69% |
| Mar 31, 2023 | 24.38% |
| Dec 31, 2022 | 21.31% |
| Sep 30, 2022 | 11.23% |
| Jun 30, 2022 | 6.32% |
| Mar 31, 2022 | 20.90% |
| Dec 31, 2021 | 12.54% |
| Sep 30, 2021 | 16.26% |
API Access
International Business Machines FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=IBM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "IBM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=IBM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();