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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

International Business Machines (IBM) Operating Margin (2016 - 2026)

International Business Machines has reported Operating Margin over the past 17 years, most recently at 21.74% for Q4 2025.

  • Quarterly results put Operating Margin at 21.74% for Q4 2025, up 119.0% from a year ago — trailing twelve months through Dec 2025 was 16.08% (up 272.0% YoY), and the annual figure for FY2025 was 16.08%, up 272.0%.
  • Operating Margin for Q4 2025 was 21.74% at International Business Machines, up from 15.49% in the prior quarter.
  • Over the last five years, Operating Margin for IBM hit a ceiling of 21.74% in Q4 2025 and a floor of 5.48% in Q1 2021.
  • Median Operating Margin over the past 5 years was 11.86% (2022), compared with a mean of 12.91%.
  • Biggest five-year swings in Operating Margin: crashed -9335bps in 2021 and later skyrocketed 458bps in 2025.
  • International Business Machines' Operating Margin stood at 17.81% in 2021, then grew by 10bps to 19.54% in 2022, then grew by 10bps to 21.45% in 2023, then decreased by -4bps to 20.55% in 2024, then rose by 6bps to 21.74% in 2025.
  • The last three reported values for Operating Margin were 21.74% (Q4 2025), 15.49% (Q3 2025), and 16.81% (Q2 2025) per Business Quant data.