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-over-year from 26.73% in Q2 2025, and up 43.68% quarter-over-quarter from 10.61% in Q1 2026.
International Business Machines (IBM) Operating Margin (2009 - 2026) Analysis & Trends
International Business Machines' Operating Margin history runs 18 years deep, the most recent figure standing at 15.24% for Q2 2026.
- In Q2 2026, Operating Margin fell 157.0% year-over-year to 15.24%; the TTM figure through Jun 2026 stood at 16.08% (up 158.0% YoY), while the FY2025 annual figure was 16.08%, up 272.0% from the prior year.
- Operating Margin for Q2 2026 stood at 15.24%, up from 10.61% in the prior quarter.
- The five-year high for Operating Margin was 21.74% in Q4 2025, with the low at 6.72% in Q1 2024.
- The 5-year median for Operating Margin is 12.56% (2023), against an average of 13.45%.
- The sharpest annual moves came in 2024 and 2025: Operating Margin plunged 183 bps in 2024, then jumped 458 bps in 2025.
- International Business Machines' Operating Margin stood at 19.54% in 2022, then advanced by 10 bps to 21.45% in 2023, then slipped by 4 bps to 20.55% in 2024, then grew by 6 bps to 21.74% in 2025, then declined by 30 bps to 15.24% in 2026.
- Business Quant data shows IBM's Operating Margin at 15.24% in Q2 2026, 10.61% in Q1 2026, and 21.74% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | International Business Machines | 219.38 Bn | 208.02 Bn | 9.91 Bn | 15.24% |
| 2 | Accenture | 111.06 Bn | 100.89 Bn | 6.13 Bn | 16.96% |
| 3 | Infosys | 47.96 Bn | 47.96 Bn | 1.60 Bn | 21.09% |
| 4 | Cgi | 32.80 Bn | 32.34 Bn | - | - |
| 5 | Cognizant Technology Solutions | 28.32 Bn | 27.27 Bn | 1.83 Bn | 15.95% |
| 6 | Fidelity National Information Services | 20.92 Bn | 20.17 Bn | 1.17 Bn | 15.01% |
| 7 | Broadridge Financial Solutions | 20.67 Bn | 20.27 Bn | 853.00 Mn | 24.61% |
| 8 | Wipro | 19.82 Bn | 18.75 Bn | 738.00 Mn | 16.01% |
| 9 | Leidos Holdings | 17.78 Bn | 17.03 Bn | 817.00 Mn | 11.28% |
| 10 | Cdw | 16.95 Bn | 16.59 Bn | 1.32 Bn | 6.52% |
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% |