International Business Machines (IBM) Operating Margin (2009 - 2025)

International Business Machines' Operating Margin history runs 17 years deep, the most recent figure standing at 16.08% for FY2025.

• In Q1 2026, Operating Margin rose 239.0% year-over-year to 10.61%; the TTM figure through Mar 2026 stood at 16.47% (up 277.0% YoY), while the FY2025 annual figure was 16.08%, up 272.0% from the prior year.
• Operating Margin was 16.08% for FY2025 at International Business Machines, up from 13.36% in the prior year.
• In the past five years, Operating Margin ranged from a high of 16.08% in FY2025 to a low of 10.9% in FY2021.
• Historically, Operating Margin has averaged 13.31% across 5 years, with a median of 13.36% in 2024.
• The sharpest annual moves came in 2021 and 2025: Operating Margin slumped 110 bps in 2021, then jumped 272 bps in 2025.
• A 5-year view of Operating Margin shows it stood at 10.9% in 2021, then rose by 14 bps to 12.41% in 2022, then advanced by 11 bps to 13.78% in 2023, then declined by 3 bps to 13.36% in 2024, then grew by 20 bps to 16.08% in 2025.
• The last three Operating Margin figures came in at 16.08% (FY2025), 13.36% (FY2024), and 13.78% (FY2023), per Business Quant data.