International Business Machines (IBM) Invested Capital (2009 - 2026)
International Business Machines (IBM) recorded Invested Capital of $96.53 billion in Q2 2026, up 5.2% from $91.75 billion a year earlier but down 2.9% from the prior quarter.
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Analysis
International Business Machines (IBM) Invested Capital (2009 - 2026) Analysis & Trends
For FY2025, International Business Machines reported Invested Capital of $94 billion, up 14.1% from FY2024.
- Annual Invested Capital has increased for four straight years, with a five-year compound annual growth rate of 1.1% (FY2020 to FY2025).
- Across earlier years, Invested Capital came in at $82.37 billion in FY2024 (+4.1%), $79.16 billion in FY2023 (+8.5%), $72.96 billion in FY2022 (+3.2%) and $70.68 billion in FY2021 (-20.6%).
- Quarterly Invested Capital has ranged from $70.68 billion in Q4 2021 to $99.42 billion in Q1 2026 over the past five years.
- On a year-over-year basis, Invested Capital has increased for 15 consecutive quarters, with growth averaging 9.0% over the last eight quarters.
- Peak year-over-year performance for Invested Capital in the last five years was growth of 14.1% in Q4 2025, against a decline of 20.6% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $99.42 billion (Q1 2026), $94 billion (Q4 2025) and $91.11 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 4,016.57 Bn | 3,952.07 Bn | 62.56 Bn | 505.99 Bn |
| 2 | International Business Machines | 236.10 Bn | 190.71 Bn | 9.71 Bn | 100.02 Bn |
| 3 | Equinix | 99.12 Bn | 87.02 Bn | 1.31 Bn | 37.17 Bn |
| 4 | Cloudflare | 84.91 Bn | 68.44 Bn | 499.52 Mn | 2.91 Bn |
| 5 | Nebius | 28.99 Bn | 2.43 Bn | 448.70 Mn | 18.89 Bn |
| 6 | Verisign | 28.46 Bn | 25.81 Bn | 393.20 Mn | -498.80 Mn |
| 7 | CoreWeave | 23.41 Bn | 10.50 Bn | 1.70 Bn | 8.69 Bn |
| 8 | Nutanix | 16.14 Bn | 7.83 Bn | 651.35 Mn | - |
| 9 | GoDaddy | 15.05 Bn | 10.43 Bn | 843.00 Mn | 3.63 Bn |
| 10 | Akamai Technologies | 11.52 Bn | 4.93 Bn | 613.75 Mn | 6.45 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 100.02 Bn |
| Jun 30, 2026 | 96.53 Bn |
| Mar 31, 2026 | 99.42 Bn |
| Dec 31, 2025 | 94.00 Bn |
| Sep 30, 2025 | 91.11 Bn |
| Jun 30, 2025 | 91.75 Bn |
| Mar 31, 2025 | 90.24 Bn |
| Dec 31, 2024 | 82.37 Bn |
| Sep 30, 2024 | 81.11 Bn |
| Jun 30, 2024 | 80.63 Bn |
| Mar 31, 2024 | 82.84 Bn |
| Dec 31, 2023 | 79.16 Bn |
| Sep 30, 2023 | 78.40 Bn |
| Jun 30, 2023 | 79.75 Bn |
| Mar 31, 2023 | 80.38 Bn |
| Dec 31, 2022 | 72.96 Bn |
| Sep 30, 2022 | 76.77 Bn |
| Jun 30, 2022 | 75.54 Bn |
| Mar 31, 2022 | 73.33 Bn |
| Dec 31, 2021 | 70.68 Bn |
API Access
International Business Machines Invested Capital 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=invested-capital&ticker=IBM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=IBM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();