International Business Machines (IBM) Return on Capital Employed [ROCE] (2009 - 2026)
International Business Machines (IBM) recorded Return on Capital Employed [ROCE] of 9.40% in Q2 2026, up 0.91 percentage points from 8.49% a year earlier but down 0.56 percentage points from the prior quarter.
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Analysis
International Business Machines (IBM) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, International Business Machines reported Return on Capital Employed [ROCE] of 10.26%, up 2.12 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has a five-year change of +6.72 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 8.13% in FY2024 (-0.64 pp), 8.77% in FY2023 (+1.12 pp), 7.66% in FY2022 (+1.99 pp) and 5.67% in FY2021 (+2.13 pp).
- Quarterly Return on Capital Employed [ROCE] has ranged from 2.59% in Q3 2021 to 9.96% in Q1 2026 over the past five years.
- On a year-over-year basis, Return on Capital Employed [ROCE] has increased for five consecutive quarters, with an average year-over-year change of +0.64 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 4.92 percentage points in Q3 2022, against a drop of 2.19 percentage points in Q3 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 9.96% (Q1 2026), 9.83% (Q4 2025) and 9.07% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,843.70 Bn | 3,766.85 Bn | 60.48 Bn | 27.85% |
| 2 | International Business Machines | 209.74 Bn | 160.64 Bn | 9.91 Bn | 9.40% |
| 3 | Cloudflare | 112.41 Bn | 95.94 Bn | 499.52 Mn | -9.60% |
| 4 | Equinix | 101.21 Bn | 89.76 Bn | 1.40 Bn | 5.75% |
| 5 | Nebius | 61.44 Bn | 34.87 Bn | 448.70 Mn | -2.94% |
| 6 | CoreWeave | 49.38 Bn | 36.47 Bn | 1.70 Bn | -0.51% |
| 7 | Verisign | 26.06 Bn | 23.28 Bn | 384.60 Mn | - |
| 8 | Nutanix | 19.56 Bn | 11.24 Bn | 651.35 Mn | 10.69% |
| 9 | Akamai Technologies | 15.64 Bn | 9.05 Bn | 613.75 Mn | 4.33% |
| 10 | DigitalOcean Holdings | 14.71 Bn | 12.71 Bn | 154.66 Mn | 7.23% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.40% |
| Mar 31, 2026 | 9.96% |
| Dec 31, 2025 | 9.83% |
| Sep 30, 2025 | 9.07% |
| Jun 30, 2025 | 8.49% |
| Mar 31, 2025 | 8.10% |
| Dec 31, 2024 | 8.17% |
| Sep 30, 2024 | 8.08% |
| Jun 30, 2024 | 8.27% |
| Mar 31, 2024 | 8.18% |
| Dec 31, 2023 | 8.68% |
| Sep 30, 2023 | 8.04% |
| Jun 30, 2023 | 7.57% |
| Mar 31, 2023 | 7.49% |
| Dec 31, 2022 | 7.90% |
| Sep 30, 2022 | 7.51% |
| Jun 30, 2022 | 7.09% |
| Mar 31, 2022 | 6.68% |
| Dec 31, 2021 | 5.98% |
| Sep 30, 2021 | 2.59% |
API Access
International Business Machines Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=IBM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=IBM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();