International Business Machines (IBM) Operating Margin (2009 - 2026)
International Business Machines (IBM) recorded Operating Margin of 15.24% in Q2 2026, down 1.57 percentage points from 16.81% a year earlier but up 4.63 percentage points from the prior quarter.
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Analysis
International Business Machines (IBM) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, International Business Machines' Operating Margin came in at 16.08% as of Jun 30, 2026, up 1.58 percentage points year-over-year; for FY2025, it was 16.08%, up 2.72 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +8.75 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 13.36% in FY2024 (-0.42 pp), 13.78% in FY2023 (+1.37 pp), 12.41% in FY2022 (+1.51 pp) and 10.90% in FY2021 (+3.58 pp).
- Quarterly Operating Margin has ranged from 6.72% in Q1 2024 to 21.74% in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Margin rose in five of the last eight quarters, with an average year-over-year change of +1.05 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 40.60 percentage points in Q4 2021, against a drop of 3.91 percentage points in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 10.61% (Q1 2026), 21.74% (Q4 2025) and 15.49% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,843.70 Bn | 3,766.85 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 209.74 Bn | 160.64 Bn | 9.91 Bn | 15.24% |
| 3 | Cloudflare | 112.41 Bn | 95.94 Bn | 499.52 Mn | -29.55% |
| 4 | Equinix | 101.21 Bn | 89.76 Bn | 1.40 Bn | 25.33% |
| 5 | Nebius | 61.44 Bn | 34.87 Bn | 448.70 Mn | -30.21% |
| 6 | CoreWeave | 49.38 Bn | 36.47 Bn | 1.70 Bn | -1.90% |
| 7 | Verisign | 26.06 Bn | 23.28 Bn | 384.60 Mn | 68.18% |
| 8 | Nutanix | 19.56 Bn | 11.24 Bn | 651.35 Mn | 9.24% |
| 9 | Akamai Technologies | 15.64 Bn | 9.05 Bn | 613.75 Mn | 7.30% |
| 10 | DigitalOcean Holdings | 14.71 Bn | 12.71 Bn | 154.66 Mn | 10.45% |
Historic Data
Download Data
Historic 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% |
API Access
International Business Machines Operating 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=operating-margin&ticker=IBM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=IBM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();