International Business Machines (IBM) Return on Invested Capital [ROIC] (2009 - 2026)
International Business Machines' Return on Invested Capital [ROIC] was 11.34% in Q2 2026, up 1.79 percentage points from 9.55% a year earlier but down 0.39 percentage points from the prior quarter.
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Analysis
International Business Machines (IBM) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at International Business Machines came in at 12.31%, up 1.93 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of +7.83 percentage points (FY2020 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was 10.38% in FY2024 (+0.69 pp), 9.69% in FY2023 (-0.77 pp), 10.46% in FY2022 (+2.83 pp) and 7.63% in FY2021 (+3.15 pp).
- Quarterly Return on Invested Capital [ROIC] has moved between 3.40% (Q3 2021) and 11.74% (Q1 2026) over five years.
- Compared with a year earlier, Return on Invested Capital [ROIC] has increased for three straight quarters, with an average year-over-year change of +0.76 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q3 2022 (a gain of 6.09 percentage points); the worst was Q3 2021 (a drop of 2.44 percentage points).
- Per Business Quant data, IBM's Return on Invested Capital [ROIC] in the three quarters before Q2 2026 was 11.74% (Q1 2026), 11.73% (Q4 2025) and 9.29% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,890.86 Bn | 3,826.35 Bn | 62.56 Bn | 26.51% |
| 2 | International Business Machines | 233.55 Bn | 188.83 Bn | 9.71 Bn | 11.50% |
| 3 | Cloudflare | 109.18 Bn | 91.62 Bn | 557.23 Mn | -17.58% |
| 4 | Equinix | 104.31 Bn | 92.20 Bn | 1.31 Bn | 5.67% |
| 5 | CoreWeave | 29.43 Bn | 14.28 Bn | 2.48 Bn | -0.28% |
| 6 | Nebius | 29.32 Bn | 122.11 Mn | 761.10 Mn | -2.15% |
| 7 | Verisign | 28.11 Bn | 25.46 Bn | 393.20 Mn | - |
| 8 | Nutanix | 16.34 Bn | 8.02 Bn | 651.35 Mn | - |
| 9 | GoDaddy | 13.97 Bn | 9.35 Bn | 843.00 Mn | 28.21% |
| 10 | Akamai Technologies | 12.30 Bn | 3.31 Bn | 617.27 Mn | 5.22% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 11.50% |
| Jun 30, 2026 | 11.34% |
| Mar 31, 2026 | 11.74% |
| Dec 31, 2025 | 11.73% |
| Sep 30, 2025 | 9.29% |
| Jun 30, 2025 | 9.55% |
| Mar 31, 2025 | 9.32% |
| Dec 31, 2024 | 10.26% |
| Sep 30, 2024 | 10.52% |
| Jun 30, 2024 | 10.08% |
| Mar 31, 2024 | 9.82% |
| Dec 31, 2023 | 9.35% |
| Sep 30, 2023 | 8.77% |
| Jun 30, 2023 | 7.68% |
| Mar 31, 2023 | 7.82% |
| Dec 31, 2022 | 8.08% |
| Sep 30, 2022 | 7.57% |
| Jun 30, 2022 | 8.76% |
| Mar 31, 2022 | 8.72% |
| Dec 31, 2021 | 7.90% |
API Access
International Business Machines Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=IBM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=IBM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();