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

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Full Year 2015 Highlights*:

* All revenue growth @cc and adjusted for divested businesses

 

($ in Billions, except per share amounts)
P&L Highlights
(From Continuing Operations)
FY
2014
B/(W)
Yr/Yr
FY
2015
B/(W)
Yr/Yr
Revenue $92.8 (1%)* $81.7 (1%)*
Pre-Tax Income - Operating $21.1 (4%) $17.7 (16%)
Net Income - Operating $16.7 (9%) $14.7 (12%)
EPS (Diluted) - Operating $16.53 (1%) $14.92 (10%)
Free Cash Flow** $12.4 (18%) $13.1 6%
* @ constant currency & excluding divestited businesses
** Net Cash from Ops excl GF Receivables, less Capital Expenditures

 

($ in Billions)
Balance Sheet Dec
2014*
Dec
2015
Assets    
Cash & Marketable Securities $8.5 $8.2
Global Financing Assets $37.3 $34.6
Non-Global Financing Assets** $71.5 $67.7
  $117.3 $110.5
Liabilities    
Global Financing Debt $29.1 $27.2
Non-Global Financing Debt** $11.6 $12.7
Other Liabilities $64.5 $56.2
  $105.3 $96.1
Equity $12.0 $14.4
* Prior year reclassified for the adoption of the FASB guidance (Debt issuance cost and Deferred Tas classification)
** Includes eliminations of inter-company activity

 

Key P&L Metrics - Operating
(From Continuing Operations)
FY
2014
B/(W)
Yr/Yr
FY
2015
B/(W)
Yr/Yr
Gross Profit Margin 50.6% 0.1 pts 50.8% 0.2 pts
Expense / Revenue % * 27.9% 0.2 pts 29.2% (1.3 pts)
Pre-Tax Income Margin 22.8% 0.3 pts 21.6% (1.1 pts)
Tax Rate 21.0% 4.0 pts 17.2% 3.8 pts
Net Income Margin 18.0% (0.7 pts) 17.9% (0.1 pts)
* Total Operating Expense & Other Income / Revenue

 

Key Metrics Dec
2014*
Dec
2015
Non GF Debt/Cap 59.2% 54.3%
Global Financing Leverage 7.2 7.3
Dividend Yield 2.9% 4.3%
Credit Rating (Moody's, S&P)* Aa3, AA- Aa3, AA-
* Credit ratings are not recommendations to purchase, hold, or sell any IBM securities or to make any investment decisions

 

2015 Revenue by Geography (excludes OEM) 2015* Revenue by Business Segment 2015* Pre-Tax (Operating) Profit by Business Segment

* From Continuing Operations

Strategic Imperative IBM/ Market Revenue Growth*

* Served market growth source: IBM Market Insights;
Historical Strategic Imperative Revenue measured on consistent basis;
Growth rates reflect constant/modeled currency excluding System x

Strategic Imperative Revenue Progression*

* Revenue growth rates @ constant currency and excludes divested businesses

Strategic Imperative 2015 Portfolio Revenue Summary

* Revenue growth rates @ constant currency and excludes divested businesses
Overlap in Strategic Imperatives primarily reflects solutions delivered via cloud


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 on a continuing operations basis. For reconciliation to GAAP and other information about FY 2014 and FY 2015 revenue at constant currency excluding divestitures, operating gross profit margin, operating pre-tax income and margin, operating expense and other income, operating tax rate, operating net income and margin, operating earnings per share, free cash flow and the December 2014 and December 2015 non GF debt-to-capital ratio, see Non-GAAP Supplemental Materials and related information in the Forms 8-K submitted to the SEC on January 19, 2016. For reconciliation to GAAP and other information about 2011-2015 strategic imperatives revenue growth at constant currency excluding divestitures, see Non-GAAP Supplemental Materials and related information in the Form 8-K submitted to the SEC on February 26, 2015 and January 19, 2016. For reconciliation to GAAP and other information about Analytics, Cloud, Mobil, Security and Social revenue growth at constant currency excluding divestitures, see Non-GAAP Supplemental Materials and related information in the Form 8-K submitted to the SEC on January 19, 2016. For reconciliation to GAAP and other information about Expected 2016 Operating EPS, see Additional Information - 2016 Earnings Per Share in the Form 8-K submitted to the SEC on January 20, 2016.

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