International Business Machines (IBM) Operating Margin (2009 - 2026)
International Business Machines (IBM) posted quarterly Operating Margin of 15.24% for Q2 2026, down 157.0% year-on-year from 26.73% in Q2 2025, and up 43.68% on a QoQ basis from 10.61% in Q1 2026.
International Business Machines (IBM) Operating Margin (2009 - 2026) Analysis & Trends
International Business Machines (IBM) has reported Operating Margin for 18 consecutive years, with 15.24% the latest figure, recorded in Q2 2026.
- Quarterly Operating Margin fell 157.0% year-over-year to 15.24% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 16.08% (up 158.0% YoY) and the FY2025 annual result came in at 16.08%, up 272.0% from the prior year.
- Operating Margin rose to 15.24% in Q2 2026 per IBM's latest filing, from 10.61% in the prior quarter.
- Over the last five years, Operating Margin for IBM reached as high as 21.74% in Q4 2025 and fell as low as 6.72% in Q1 2024.
- A 5-year average of 13.45% and a median of 12.56% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin plunged 183 bps — and 2025, when it soared 458 bps.
- Year by year, Operating Margin stood at 19.54% in 2022, then increased by 10 bps to 21.45% in 2023, then fell by 4 bps to 20.55% in 2024, then gained by 6 bps to 21.74% in 2025, then decreased by 30 bps to 15.24% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 15.24%, 10.61%, and 21.74% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | International Business Machines | 193.88 Bn | 178.95 Bn | 9.91 Bn | 15.24% |
| 2 | Accenture | 84.94 Bn | 75.26 Bn | 6.13 Bn | 16.96% |
| 3 | GDS Holdings | 50.55 Bn | 48.40 Bn | 164.04 Mn | 26.97% |
| 4 | Infosys | 44.05 Bn | 44.79 Bn | 1.60 Bn | 21.09% |
| 5 | Cgi | 41.25 Bn | 40.60 Bn | - | - |
| 6 | Fidelity National Information Services | 20.63 Bn | 19.87 Bn | 1.11 Bn | 12.84% |
| 7 | Cognizant Technology Solutions | 20.39 Bn | 18.87 Bn | 1.78 Bn | 15.57% |
| 8 | Wipro | 18.65 Bn | 17.52 Bn | 738.00 Mn | 16.01% |
| 9 | Broadridge Financial Solutions | 16.79 Bn | 16.48 Bn | 626.90 Mn | 18.40% |
| 10 | Cdw | 16.66 Bn | 16.08 Bn | 1.19 Bn | 6.62% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 15.24% |
| Mar 31, 2026 | 10.61% |
| Dec 31, 2025 | 21.74% |
| Sep 30, 2025 | 15.49% |
| Jun 30, 2025 | 16.81% |
| Mar 31, 2025 | 8.22% |
| Dec 31, 2024 | 20.55% |
| Sep 30, 2024 | 10.91% |
| Jun 30, 2024 | 13.77% |
| Mar 31, 2024 | 6.72% |
| Dec 31, 2023 | 21.45% |
| Sep 30, 2023 | 12.74% |
| Jun 30, 2023 | 12.37% |
| Mar 31, 2023 | 7.02% |
| Dec 31, 2022 | 19.54% |
| Sep 30, 2022 | 10.12% |
| Jun 30, 2022 | 11.34% |
| Mar 31, 2022 | 7.46% |
| Dec 31, 2021 | 17.81% |
| Sep 30, 2021 | 9.01% |