Financial snapshot

Quarterly snapshot

This page features a recent snapshot of IBM's financial performance. More detailed information about the company's financial performance can be found in IBM's periodic financial reports, which are available on the company's website and on the SEC's website.

Overview - IBM Corporation Financial Profile - January 2014

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Recent Highlights - 1Q 2014

($ in Billions, except per share amounts)
P&L Highlights FY
2013
B/(W)
Yr/Yr
Mar
2014
B(W)
Yr/Yr
Revenue
    @constant currency
$99.8 (5%)
(2%)
$22.5 (4%)
(2%)
Pre-Tax Income - Operating* $21.4 (8%) $3.3 (19%)
Net Income - Operating* $18.0 2% $2.6 (22%)
EPS (Diluted) - Operating* $16.28 7% $2.54 (15%)
Free Cash Flow** $15.0   $0.6 (63%)
*1Q'14 includes $0.9B of pre-tax workforce rebalancing charge and $0.1B of pre-tax gain on the sale of the  customer care BPO business
**Net Cash from Ops excl GF Receivables, less Capital Expenditures

 

($ in Billions)
Balance Sheet Dec
2013
Mar
2014
Assets    
  Cash & Marketable Securities $11.1 $9.7
  Global Financing Assets $38.7 $36.2
  Non-Global Financing Assets* $76.5 $76.7
  $126.2 $122.6
Liabilities    
  Global Financing Debt $27.5 $28.3
  Non-Global Financing Debt* $12.2 $15.7
  Other Liabilities $63.6 $61.9
  $103.3 $105.9
Equity $22.9 $16.7
*Includes eliminations of inter-company activity

 

Key P&L Metrics - Operating Fy
2013
B/(W)
Yr/Yr
Mar
2014
B/(W)
Yr/Yr
Gross Profit Margin 49.7% 0.9 pts 47.6% 0.9 pts
Expense / Revenue % * 28.2% (1.6 pts) 32.9% (3.6 pts)
Pre-Tax Income Margin 21.4% (0.7 pts) 14.7% (2.7 pts)
Tax Rate 16.0% 7.9 pts 20.0% (2.7 pts)
Net Income Margin 18.0% 1.1 pts 11.8% (2.7 pts)
* Total Operating Expense & Other Income / Revenue

 

Key Metrics Dec
2013
Mar
2014
Non GF Debt/Cap 39% 55%
Global Financing Leverage 7.2% 7.1
Dividend Yiedld 2.0% 2.0%
Credit Rating (Moody's, S&P) Aa3, AA- Aa3, AA-

 

Revenue by Geography (excludes OEM) 2013 Revenue by Business Segment Pre-Tax (Operating) Profit by Business Segment

Five Year Summary

Operating (Non-GAAP) Margins Operating (Non-GAAP) EPS Free Cash Flow ($B)

In an effort to provide additional and useful information regarding the company's results as determined by generally accepted accounting principles (GAAP), these materials contain certain non-GAAP financial measures. For reconciliation to GAAP and other information about FY 2013 non-GAAP measures, December 2013 non GF debt-to-capital ratio, 2012-2013 operating gross profit margin, 2012-2013 operating pre-tax income margin, 2010-2013 operating (Non-GAAP) EPS and 2012-2013 free cash flows, see Non-GAAP Supplemental Materials and related information in the Form 8-K submitted to the SEC on January 21, 2014. For reconciliation to GAAP and other information about 2009-2011 operating gross profit margin, 2009-2011 operating pre-tax income margin and 2009 operating (Non-GAAP) EPS see Non-GAAP Supplemental Materials and related information in the Form 10-Q (page 62) filed with the SEC on April 26, 2011 and Form 8-K submitted to the SEC on January 22, 2013. For reconciliation to GAAP and other information about 2009-2011 free cash flow, see Non-GAAP Supplementary Materials and related information in the Form 8-K submitted to the SEC on February 28, 2013. For reconciliation to GAAP and other information about 1Q 2014 Non-GAAP measures and the March 2014 non GF debt-to-capital ratio, see Non-GAAP Supplemental Materials and related information in the Form 8-K submitted to the SEC on April 16, 2014.

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