OakChart

International Business Machines Corp

IBMTechnology·Information Technology Services·USA·Mega·NYSE·Nov 13 • 7:02 AM ET

244.92+0.25 (0.10%)
2026-11-13 13:04 CET
Market cap
$231.48B
Revenue, TTM
69,868.00 USD m
Net income, TTM
11,171.00 USD m
Free cash flow, TTM
14,656.00 USD m
EPS diluted, TTM
11.72
Price / earnings
20.89
Compare

Price

IBM against its 20, 50 and 200-day averages
Terms2050200Miss
Patternshover a marker to name it
RS 19Sales 20,389Price20,28020,406200.00250.00300.0033.7M67.4MVolumeMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26IBMclose 244.9220-day 249.2950-day 237.98200-day 246.68244.9252w high 332.4652w low 199.1952-week range, not 6 months

26.3% under the 52-week high of 332.46 on 2 Jun 2026. 52-week low 199.19 on 23 Jul 2026. Last 15 sessions, 8.1% high to low

Volume 0.01× normal · the line is the 50-bar volume average

Setup. RS line 19
CANSLIM 2 of 6 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); 52-Week High/Low: 0-10% below High; Performance: Year +50%
VCP 2 of 6 — fails: 200-Day Simple Moving Average: Price above SMA200; 50-Day Simple Moving Average: SMA50 above SMA200; 52-Week High/Low: 0-10% below High; Average True Range: Under 2
Minervini 0 of 4 — fails: 200-Day Simple Moving Average: Price above SMA200; 50-Day Simple Moving Average: SMA50 above SMA200; 52-Week High/Low: 0-10% below High; Performance: Year +50%
Zanger 1 of 5 — fails: Performance: Week +10%; 20-Day High/Low: 0-5% below High; Relative Volume: Over 1.5; 200-Day Simple Moving Average: Price above SMA200
Leaders 2 of 5 — fails: 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%; 52-Week High/Low: 0-10% below High
Breakout 1 of 4 — fails: 52-Week High/Low: New High; Relative Volume: Over 2; 200-Day Simple Moving Average: Price above SMA200
Growth 1 of 4 — fails: EPS Growth Qtr Over Qtr: High (>25%); EPS Growth This Year: High (>25%); EPS Growth Next Year: High (>25%)
Quality 2 of 5 — fails: Net Profit Margin: High (>20%); Debt/Equity: Low (<0.1); Current Ratio: Over 1
Value 1 of 4 — fails: P/E: Under 15; P/B: Under 2; Debt/Equity: Low (<0.1)
Income 3 of 4 — fails: Payout Ratio: Low (<20%)
Small Cap 1 of 4 — fails: Float: Under 100M; 200-Day Simple Moving Average: Price above SMA200; Performance: Year +50%
Accumulation 1 of 4 — fails: Institutional Transactions: Over +10%; 200-Day Simple Moving Average: Price above SMA200; Performance: Year Up
Relative Strength 1 of 3 — fails: Performance: Year +100%; 200-Day Simple Moving Average: Price above SMA200

Profile

IBM
52-week range, 34% of the way up
199.19332.46

International Business Machines Corp. is an information technology company, which engages in the provision of integrated solutions that leverage information technology and knowledge of business processes. It operates through the following segments: Software, Consulting, Infrastructure, Financing, and Other. The Software segment combines hybrid cloud platform and software solutions to help clients become more data-driven, and to automate, secure, and modernize their environments. The Consulting segment focuses on integrating skills on strategy, experience, technology and operations by domain and industry. The Infrastructure segment offers solutions for hybrid cloud and is the foundation of the hybrid cloud stack. Infrastructure is optimized for infusing AI into mission-critical transactions and tightly integrated with IBM Software including Red Hat for accelerated hybrid cloud benefits. The Financing segment refers to the client and commercial financing, facilitating IBM clients' acquisition of IT systems, software, and services. The company was founded by Charles Ranlett Flint and Thomas J. Watson Sr. on June 16, 1911 and is headquartered in Armonk, NY.

IndexDJIA, S&P 500, RUI
Employees286800
IPONov 11, 1915
Beta0.77
ATR, 14d6.35
Rel volume0.01
Short float1.89%
Insider own0.10%
Inst own66.64%

Snapshot

6 groups

Valuation

IndexDJIA, S&P 500, RUI
Market Cap$231.48B
Enterprise Value288.18B
Income11.17B
Sales69.87B
Book / share37.61
Cash / share11.75
Dividend Est.6.77 (2.76%)
Dividend TTM6.75 (2.76%)
Dividend Ex-DateNov 10, 2026
Dividend Gr. 3/5Y0.60% 0.61%
Payout60.09%
Employees286800
IPONov 11, 1915

Ratios

Price / earnings20.89
Forward price / earnings18.47
Price / earnings / growth2.38
Price / sales3.31
Price / book6.51
Price / cash20.84
Price / free cash flow15.79
Value / cash profit14.41
Value / sales4.12
Quick Ratio0.77
Current Ratio0.82
Debt / equity1.89
Long-term debt / equity1.67
Options and shortYes / Yes

Earnings

Earnings / share11.72
Earnings next year13.26
Earnings next quarter4.63
Earnings this year7.10%
Earnings next year6.84%
Earnings growth, 5 years7.77%
Past earnings growth83.86% 12.36%
Past sales growth3.72% 4.12%
Earnings vs last year39.80%
Sales vs last year6.83%
Earnings vs last quarter24.96%
Sales vs last quarter4.73%
EarningsOct 21 AMC
Surprise3.15% 1.61%

Ownership

Insiders own0.10%
Insider trades-2.58%
Institutions own66.64%
Institution trades1.85%
Return on assets7.41%
Return on equity35.18%
Return on capital11.77%
Gross Margin57.41%
Operating margin21.04%
Profit Margin15.99%
20-day average-1.75%
50-day average2.92%
200-day average-0.71%

Technical

Shares out945.00M
Shares floating944.20M
Short / float1.89%
Short ratio3.41
Short interest17.84M
52-week high332.46 -26.3%
52-week low199.19 +23.0%
Volatility1.95% 2.94%
Average range6.35
Strength index50.80
Market sensitivity0.77
Relative volume0.01
Avg Volume5.23M
Volume3,814

Performance

Perf Week-0.03%
Perf Month4.61%
Perf Quarter7.02%
Perf Half Y11.68%
Perf YTD-17.32%
Perf Year-19.66%
Perf 3Y65.38%
Perf 5Y105.89%
Perf 10Y59.00%
Recommendation2.38
Target Price258.68
Prev Close244.67
Price244.92
Change %0.10%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Oct 09, 2026InitiatedTruistHold$240-2.0%
Jul 22, 2026InitiatedRobert W. BairdNeutral$230-6.1%
Jul 15, 2026DowngradeOppenheimerOutperform → Perform
Jul 14, 2026DowngradeHSBC SecuritiesHold → Reduce$191-22.0%
Jul 10, 2026InitiatedSusquehannaNeutral$303+23.7%
Jun 23, 2026UpgradeJP MorganNeutral → Overweight$291+18.8%
Jun 01, 2026InitiatedBarclaysOverweight$350+42.9%
Apr 28, 2026UpgradeHSBC SecuritiesReduce → Hold$231-5.7%
Apr 24, 2026UpgradeDZ BankHold → Buy$295+20.4%
Apr 10, 2026InitiatedCitigroupBuy$285+16.4%

Peers

Mkt cap
TickerCompanyMkt cap
ACNAccenture plc147.54B
KDKyndryl Holdings Inc3.72B
CTSHCognizant Technology Solutions Corp28.18B
INFYInfosys Ltd ADR49.88B
ORCLOracle Corp388.31B
GIBCGI Inc16.73B
WITWipro Ltd ADR21.27B
HPEHewlett Packard Enterprise Co67.13B
EPAMEPAM Systems Inc8.32B
LDOSLeidos Holdings Inc15.98B

Insider trading

latest 14 of 19
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Thomas Robert DavidSenior Vice PresidentAug 26 '26Sale230.3225,0005,758,08847,800Aug 28 04:23 PM
Robert ThomasOfficerAug 26 '26Proposed Sale230.3225,0005,758,088Aug 26 04:03 PM
Robinson AnneSenior Vice PresidentJul 01 '26Option Exercise0.007,295016,271Jul 02 04:19 PM
HOWARD MICHELLE JDirectorFeb 25 '26Buy237.835011,891194Feb 25 04:34 PM
Miebach MichaelDirectorFeb 25 '26Buy233.33434101,264434Feb 25 04:32 PM
COHN GARY DVice ChairmanFeb 21 '26Option Exercise0.007,5820111,833Feb 23 09:08 PM
KAVANAUGH JAMES JSr. VP and CFOFeb 21 '26Option Exercise0.009,8320176,834Feb 23 09:06 PM
KRISHNA ARVINDChairman, President & CEOFeb 21 '26Option Exercise0.0016,9030374,708Feb 23 09:05 PM
Fehring Nicolas A.VP, ControllerFeb 21 '26Option Exercise0.001,568017,296Feb 23 09:04 PM
LAMOREAUX NICKLE JACLYNSenior Vice PresidentFeb 21 '26Option Exercise0.004,391057,572Feb 23 09:03 PM
Thomas Robert DavidSenior Vice PresidentFeb 21 '26Option Exercise0.008,414074,149Feb 23 09:01 PM
KAVANAUGH JAMES JSr. VP and CFOFeb 18 '26Option Exercise0.002,7190171,851Feb 19 04:59 PM
KRISHNA ARVINDChairman, President & CEOFeb 18 '26Option Exercise0.005,6640366,300Feb 19 04:58 PM
Robinson AnneSenior Vice PresidentFeb 18 '26Option Exercise0.001,722011,286Feb 19 04:52 PM

Held by

AUM
TickerCompanyAUM
VTIVanguard Morningstar Total Stock Market ETFAUM: 696.31B
VOOVanguard S&P 500 ETFAUM: 1070.75B
IVViShares Core S&P 500 ETFAUM: 882.14B
SPYSPDR S&P 500 ETF TrustAUM: 805.69B
VTVVanguard Morningstar Value ETFAUM: 198.14B
XLKState Street Technology Select Sector SPDR ETFAUM: 116.48B
VGTVanguard Information Technology ETFAUM: 142.20B
DIASpdr Dow Jones Industrial Average ETF TrustAUM: 45.74B
VIGVanguard Dividend Appreciation FTFAUM: 117.98B
VYMVanguard High Dividend Yield Indx ETFAUM: 83.97B

News

latest 14 of 200

Quarterly earnings

2026Q3 EPS 2.950 beat 2.860, from 2.650 a year earlier. Sales 17,103 beat 16,831, from 16,331 a year earlier
EPS
4.52002024Q4 EPS 3.920 against 3.77624Q42025Q1 EPS 1.600 against 1.42425Q12025Q2 EPS 2.800 against 2.64925Q22025Q3 EPS 2.650 against 2.44725Q32025Q4 EPS 4.520 against 4.30925Q42026Q1 EPS 1.910 against 1.80926Q12026Q2 EPS 2.930 against 2.94626Q22026Q3 EPS 2.950 against 2.86026Q3
Sales, USD millions
19,68602024Q4 sales 17,553 against 17,55824Q42025Q1 sales 14,541 against 14,39025Q12025Q2 sales 16,977 against 16,58925Q22025Q3 sales 16,331 against 16,09325Q32025Q4 sales 19,686 against 19,19025Q42026Q1 sales 15,917 against 15,63126Q12026Q2 sales 17,162 against 17,46426Q22026Q3 sales 17,103 against 16,83126Q3

The outline behind the bar is the estimate. The filled bar is the print. Green beat it, red missed it.

PeriodReportedEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mSurpriseYear-ago quarterAnalystsNext session
2026Q3ended 2026-09-302026-10-21 16:302.9502.8602.30017,10316,831EPS +3.2% · sales +1.6%vs 2025Q3, year-ago quarter · EPS +11.3% · sales +4.7%21 EPS · 18 salesOpen -4.06% vs SPY -0.87%. Close +0.26% vs SPY -1.18%
2026Q2ended 2026-06-302026-07-22 16:302.9302.9462.27117,16217,464EPS -0.5% · sales -1.7%vs 2025Q2, year-ago quarter · EPS +4.6% · sales +1.1%21 EPS · 17 salesOpen -1.52% vs SPY -1.08%. Close +0.43% vs SPY -1.23%
2026Q1ended 2026-03-312026-04-22 16:301.9101.8091.27715,91715,631EPS +5.6% · sales +1.8%vs 2025Q1, year-ago quarter · EPS +19.4% · sales +9.5%17 EPS · 15 salesOpen -7.78% vs SPY -0.24%. Close -8.25% vs SPY -0.39%
2025Q4ended 2025-12-312026-01-28 16:304.5204.3095.88019,68619,190EPS +4.9% · sales +2.6%vs 2024Q4, year-ago quarter · EPS +15.3% · sales +12.2%18 EPS · 16 salesOpen +8.06% vs SPY +0.14%. Close +5.13% vs SPY -0.20%
2025Q3ended 2025-09-302025-10-22 16:302.6502.4471.83816,33116,093EPS +8.3% · sales +1.5%vs 2024Q3, year-ago quarter · EPS +15.2% · sales +9.1%16 EPS · 14 salesOpen -7.85% vs SPY +0.05%. Close -0.87% vs SPY +0.59%
2025Q2ended 2025-06-302025-07-23 16:302.8002.6492.31416,97716,589EPS +5.7% · sales +2.3%vs 2024Q2, year-ago quarter · EPS +15.2% · sales +7.7%16 EPS · 14 salesOpen -7.36% vs SPY +0.06%. Close -7.62% vs SPY +0.03%
2025Q1ended 2025-03-312025-04-23 16:301.6001.4241.11614,54114,390EPS +12.4% · sales +1.0%vs 2024Q1, year-ago quarter · EPS -4.8% · sales +0.5%16 EPS · 14 salesOpen -5.83% vs SPY +0.24%. Close -6.58% vs SPY +2.10%
2024Q4ended 2024-12-312025-01-29 16:303.9203.7763.09217,55317,558EPS +3.8% · sales 0.0%vs 2023Q4, year-ago quarter · EPS +1.3% · sales +1.0%14 EPS · 12 salesOpen +9.35% vs SPY +0.36%. Close +12.96% vs SPY +0.54%
2024Q3ended 2024-09-302024-10-23 16:302.3002.225-0.35714,96815,078EPS +3.4% · sales -0.7%vs 2023Q3, year-ago quarter · EPS +4.5% · sales +1.5%16 EPS · 13 salesOpen -5.13% vs SPY +0.34%. Close -6.17% vs SPY +0.22%
2024Q2ended 2024-06-302024-07-24 16:302.4302.1761.96315,77015,623EPS +11.7% · sales +0.9%vs 2023Q2, year-ago quarter · EPS +11.5% · sales +1.9%16 EPS · 14 salesOpen +1.51% vs SPY +0.02%. Close +4.33% vs SPY -0.52%
2024Q1ended 2024-03-312024-04-24 16:301.6801.5961.72014,46214,551EPS +5.3% · sales -0.6%vs 2023Q1, year-ago quarter · EPS +23.5% · sales +1.5%15 EPS · 12 salesOpen -8.64% vs SPY -1.23%. Close -8.25% vs SPY -0.38%
2023Q4ended 2023-12-312024-01-24 16:303.8703.7943.54617,38117,289EPS +2.0% · sales +0.5%vs 2022Q4, year-ago quarter · EPS +7.5% · sales +4.1%14 EPS · 13 salesOpen +6.34% vs SPY +0.45%. Close +9.49% vs SPY +0.54%
2023Q3ended 2023-09-302023-10-25 16:302.2002.1241.84514,75214,728EPS +3.6% · sales +0.2%vs 2022Q3, year-ago quarter · EPS +21.5% · sales +4.6%14 EPS · 12 sales-
2023Q2ended 2023-06-302023-07-19 16:302.1802.0141.72215,47515,576EPS +8.3% · sales -0.6%vs 2022Q2, year-ago quarter · EPS -5.6% · sales -0.4%15 EPS · 13 sales-
2023Q1ended 2023-03-312023-04-19 16:301.3601.2631.01014,25214,354EPS +7.7% · sales -0.7%vs 2022Q1, year-ago quarter · EPS -2.9% · sales +0.4%12-
2022Q4ended 2022-12-312023-01-25 16:303.6003.5952.96016,69016,151EPS +0.1% · sales +3.3%vs 2021Q4, year-ago quarter · EPS +7.5% · sales 0.0%15 EPS · 12 sales-

Annual earnings

2025FY EPS 11.590 beat 11.364, from 10.330 a year earlier. Sales 67,535 beat 67,038, from 62,753 a year earlier
EPS
13.19102018FY EPS 13.191 against 13.15920182019FY EPS 12.236 against 12.22220192020FY EPS 8.281 against 8.06820202021FY EPS 7.930 against 9.37720212022FY EPS 9.130 against 9.13020222023FY EPS 9.620 against 9.54120232024FY EPS 10.330 against 10.19820242025FY EPS 11.590 against 11.3642025
Sales, USD millions
79,61902018FY sales 79,591 against 79,61920182019FY sales 77,147 against 77,00520192020FY sales 73,620 against 73,94620202021FY sales 57,350 against 70,06820212022FY sales 60,530 against 60,04320222023FY sales 61,860 against 61,77820232024FY sales 62,753 against 62,76920242025FY sales 67,535 against 67,0382025

Reported years only. The outline behind the bar is the estimate. A later year with no print stays in the table.

earnings feed, not the snapshot. Not the statement ratio.

PeriodEPS adjustedEPS estEPS reportedSales act, USD mSales est, USD mP/E, earnings feed
2030FYestimate-12.850--83,33619.06
2029FYestimate-14.092--81,17517.38
2028FYestimate-14.505--77,57516.89
2027FYestimate-13.263--73,31718.47
2026FYestimate-12.413--70,56719.73
2025FY11.59011.36411.14067,53567,03825.56
2024FY10.33010.1986.42762,75362,76921.28
2023FY9.6209.5418.13661,86061,77817.00
2022FY9.1309.1301.79760,53060,04315.43
2021FY7.9309.3776.34857,35070,06816.86
2020FY8.2818.0686.23573,62073,94614.52
2019FY12.23612.22210.56377,14777,00510.46
2018FY13.19113.1599.51979,59179,6198.23
2017FY13.18113.1926.13679,13978,64211.12
2016FY12.98112.86712.42679,91979,69612.21
2015FY14.25114.25913.53981,74181,78217.19
2014FY15.78915.41614.89192,79393,57015.51
2013FY15.55015.89314.27099,751100,37915.75
2012FY14.56614.45713.726104,507104,36916.81
2011FY12.83712.77012.474106,916107,12919.08
2010FY11.00310.94211.00399,87099,07122.26

Quarterly results

2026Q3 revenue 17,103, from 16,331 a year earlier. Operating margin 20.6%, from 20.0% a year earlier
Revenue, USD millions
19,68602024Q4 revenue 17,55424Q42025Q1 revenue 14,54125Q12025Q2 revenue 16,97725Q22025Q3 revenue 16,33125Q32025Q4 revenue 19,68625Q42026Q1 revenue 15,91726Q12026Q2 revenue 17,16226Q22026Q3 revenue 17,10326Q3
Operating margin
26.302024Q4 operating margin 22.8%24Q42025Q1 operating margin 14.8%25Q12025Q2 operating margin 19.8%25Q22025Q3 operating margin 20.0%25Q32025Q4 operating margin 26.3%25Q42026Q1 operating margin 17.1%26Q12026Q2 operating margin 19.1%26Q22026Q3 operating margin 20.6%26Q3

From the quarterly statement. Not an estimate.

Estimate revisions

Latest snapshot of each period and type. 2026FY E 12.41 per share.
PeriodTypeScaleDateMeanvs prior date
2026FYEper share2026-11-0412.410.0%
2026Q4Eper share2026-11-044.630.0%
2026FYSUSD millions2026-11-0470,567+0.0%
2026Q4SUSD millions2026-11-0420,3890.0%
2026FYRper share2026-10-319.95+0.4%
2026Q4Rper share2026-10-224.09-0.7%
2026Q3Eper share2026-10-162.85-0.3%
2026Q3SUSD millions2026-10-1616,8210.0%
2026Q3Rper share2026-10-152.40+0.1%
2026Q2Eper share2026-07-222.950.0%
2026Q2SUSD millions2026-07-2217,464-0.1%
2026Q2Rper share2026-07-172.36-2.1%
2026Q1Eper share2026-04-171.81+0.1%
2026Q1Rper share2026-04-171.38+0.5%
2026Q1SUSD millions2026-04-1715,631+0.1%
2025FYEper share2026-01-2311.36+0.1%
2025Q4Eper share2026-01-234.31+0.2%
2025FYRper share2026-01-219.05-0.1%
2025Q4Rper share2026-01-213.82-0.3%
2025FYSUSD millions2026-01-2167,0520.0%
2025Q4SUSD millions2026-01-2119,206-0.1%
2025Q3Eper share2025-10-202.45+0.0%
2025Q3SUSD millions2025-10-2016,093+0.0%
2025Q3Rper share2025-10-172.07+0.2%
2025Q2Eper share2025-07-212.65-0.1%
2025Q2Rper share2025-07-212.27-0.2%
2025Q2SUSD millions2025-07-2116,5890.0%
2025Q1Eper share2025-04-221.42+0.0%
2025Q1SUSD millions2025-04-2114,3900.0%
2025Q1Rper share2025-04-201.060.0%
2024FYEper share2025-01-2810.200.0%
2024Q4Eper share2025-01-283.78-0.1%
2024FYSUSD millions2025-01-2862,7690.0%
2024FYRper share2025-01-277.19+0.0%
2024Q4Rper share2025-01-273.48+0.2%
2024Q4SUSD millions2025-01-2717,5580.0%
2024Q3Rper share2024-10-181.91+0.1%
2024Q3Eper share2024-10-172.23+0.1%
2024Q3SUSD millions2024-10-1415,060+0.1%
2024Q2Eper share2024-07-222.18+0.1%
2024Q2SUSD millions2024-07-2215,6230.0%
2024Q2Rper share2024-07-191.70-5.7%
2024Q1Eper share2024-04-221.60-0.1%
2024Q1SUSD millions2024-04-2214,5510.0%
2024Q1Rper share2024-04-171.30-0.2%
2023FYEper share2024-01-199.54+0.1%
2023FYRper share2024-01-197.93+0.3%
2023FYSUSD millions2024-01-1961,778+0.1%

Estimate history

Annual
Metric201720182019202020212022202320242025TTMMRQ
EPS per share6.1369.51910.5636.2356.3481.7978.1366.42711.16611.7248-
Sales USD millions79,13979,59177,14755,17957,35160,53061,86062,75367,53669,868-
Shares million shares922892887893898906915926937-945
Quarterly
MetricQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
EPS per share-0.3573.0921.1162.3141.8385.881.2772.2712.297
Sales USD millions14,96817,55414,54116,97716,33119,68615,91717,16217,103
Shares million shares925926929932935937940942945

Income statement, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Total Revenue69,868.0067,536.00+7.6%62,753.00+1.4%61,860.00+2.2%60,530.00+5.5%57,351.00+3.9%55,179.00-28.5%77,147.00-3.1%79,591.00
Cost of Goods Sold Incl. D&A29,757.0028,669.00+3.7%27,634.00-2.6%28,362.00-3.0%29,228.00+10.1%26,541.00+6.1%25,006.00-40.1%41,762.00-3.9%43,474.00
Gross Profit40,111.0038,867.00+10.7%35,119.00+4.8%33,498.00+7.0%31,302.00+1.6%30,810.00+2.1%30,173.00-14.7%35,385.00-2.0%36,117.00
Selling, General and Administrative Excl. Other25,409.0024,761.00+1.4%24,423.00+6.2%22,995.00-2.3%23,537.00-1.1%23,787.00+1.2%23,516.00-5.5%24,874.00+7.0%23,244.00
Research and Development9,049.008,312.00+11.1%7,479.00+17.9%6,343.00+1.2%6,268.00+0.8%6,216.00+4.2%5,967.00+6.5%5,602.00+11.4%5,027.00
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income14,702.0014,106.00+31.9%10,696.00+1.8%10,503.00+35.3%7,765.00+10.6%7,023.00+5.5%6,657.00-36.7%10,511.00-18.3%12,873.00
Interest Expense1,654.001,899.00+29.0%1,472.00+1.0%1,458.00+67.0%873.00-19.8%1,088.00-14.2%1,268.00+24.1%1,022.00+49.0%686.00
Unusual Expense4,442.002,823.00-19.3%3,496.00+69.5%2,062.00+31.1%1,573.00+96.4%801.00-68.6%2,553.00+144.3%1,045.00+48.4%704.00
Net Income Before Taxes10,507.0010,355.00+78.1%5,814.00-33.2%8,706.00+640.3%1,176.00-75.8%4,856.00+87.9%2,585.00-74.6%10,191.00-10.3%11,359.00
Income Taxes-652.00-242.00-218.00-118.5%1,176.00-626.00-604.8%124.00-1,360.00-286.0%731.00-72.1%2,619.00
Consolidated Net Income11,160.0010,597.00+75.7%6,032.00-19.9%7,530.00+317.6%1,803.00-61.9%4,732.00+19.9%3,945.00-58.3%9,460.00+8.2%8,740.00
Net Income From Continuing Operations11,160.0010,571.00+75.7%6,015.00-19.9%7,514.00+321.4%1,783.00-62.2%4,713.00+19.9%3,932.00-58.3%9,435.00+8.2%8,723.00
Net Income11,171.0010,593.00+75.9%6,023.00-19.7%7,502.00+357.7%1,639.00-71.5%5,743.00+2.7%5,590.00-40.7%9,431.00+8.1%8,728.00
EPS (Recurring) per share14.9813.25+46.6%9.04-6.8%9.70+223.3%3.00-57.0%6.97-15.3%8.23-27.7%11.38+13.1%10.06
EPS (Basic, Before Extraordinaries) per share11.8911.36+74.0%6.53-20.7%8.23+352.2%1.82-71.6%6.41+2.1%6.28-40.9%10.63+11.1%9.57
EPS (Diluted) per share11.7211.17+73.7%6.43-21.0%8.14+352.2%1.80-71.7%6.35+1.9%6.23-41.0%10.56+10.9%9.52
EBITDA19,999.0019,127.00+24.5%15,363.00+3.1%14,899.00+18.5%12,569.00-6.5%13,440.00+0.7%13,352.00-19.4%16,570.00-4.5%17,353.00
Non-Operating Income (Expense)1,899.00971.00+1029.1%86.00-95.0%1,723.00-4,143.00-278.00-251.00-114.4%1,747.00-124.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.000.00
Stock Option Compensation Expense1,249.00975.00+15.8%842.00-0.1%843.00+14.2%738.00+6.2%695.00+3.0%675.00+28.8%524.00+33.3%393.00
Price To Earnings Ratio ratio statement ratio, not the snapshot20.8720.8732.0021.70102.7121.0719.2812.1211.42
Price To Sales Ratio ratio3.004.163.282.442.122.112.051.551.31
Gross Margin %57.4157.5555.9654.1551.7153.7254.6845.8745.38
Operating Margin %21.0420.8917.0416.9812.8312.2512.0613.6216.17
Net Margin %15.9915.689.6012.132.7110.0110.1312.2210.97
Shares Outstanding million shares945.00936.95+1.2%926.29+1.2%915.01+1.0%906.09+0.9%898.07+0.6%892.65+0.6%887.11-0.6%892.48
Market Capitalization231,242.76231,242.76+13.8%203,264.71+36.1%149,340.61+17.2%127,382.31+6.3%119,866.29+11.9%107,137.17-5.5%113,388.27+14.9%98,670.94

Income statement, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Total Revenue17,103.00+4.7%17,162.00+1.1%15,917.00+9.5%19,686.00+12.1%16,331.00+9.1%16,977.00+7.7%14,541.00+0.5%17,554.00+1.0%
Cost of Goods Sold Incl. D&A7,493.00+6.2%7,331.00+3.4%7,046.00+6.6%7,887.00+9.2%7,058.00+6.1%7,091.00-1.5%6,608.00-3.1%7,225.00+0.2%
Gross Profit9,610.00+3.6%9,831.00-0.6%8,871.00+11.8%11,799.00+14.2%9,273.00+11.5%9,886.00+15.3%7,933.00+3.8%10,329.00+1.6%
Selling, General and Administrative Excl. Other6,089.00+1.4%6,549.00+0.4%6,152.00+6.4%6,619.00+4.6%6,003.00+0.7%6,522.00+9.8%5,784.00-2.5%6,329.00+5.1%
Research and Development2,378.00+14.2%2,311.00+10.2%2,173.00+11.4%2,187.00+11.2%2,082.00+11.0%2,097.00+14.0%1,950.00+8.6%1,967.00+12.5%
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income3,521.00+7.7%3,282.00-2.4%2,719.00+26.5%5,180.00+29.5%3,270.00+39.0%3,364.00+27.7%2,149.00+25.7%4,000.00-3.5%
Interest Expense383.00-22.2%449.00-13.2%437.00-14.0%381.00+63.5%492.00-14.6%517.00+37.1%508.00+78.2%233.00-59.4%
Unusual Expense951.00-2.4%725.001,148.00+237.6%1,618.00+22.0%974.00-279.00-133.4%340.00-75.5%1,326.00
Net Income Before Taxes2,497.00+2.8%2,479.00-4.5%1,387.00+19.8%4,144.00+25.3%2,430.002,597.00+17.0%1,158.00+7.8%3,306.00-12.1%
Income Taxes298.00-56.6%313.00-22.5%172.00+67.0%-1,435.00-478.6%686.00404.00+3.9%103.00379.00-20.0%
Consolidated Net Income2,199.00+26.1%2,166.00-1.2%1,216.00+15.4%5,579.00+90.6%1,744.002,193.00+19.8%1,054.00-33.1%2,927.00-10.9%
Net Income From Continuing Operations2,199.00+26.1%2,166.00-1.2%1,216.00+15.4%5,579.00+90.6%1,744.002,193.00+19.8%1,054.00-33.1%2,927.00-10.9%
Net Income2,190.00+25.6%2,165.00-1.3%1,216.00+15.3%5,600.00+92.2%1,744.002,194.00+19.6%1,055.00-34.3%2,914.00-11.4%
EPS (Recurring) per share2.99+16.8%2.80+32.7%2.12+54.7%7.07+73.3%2.562.11-18.5%1.37-50.4%4.08+16.9%
EPS (Basic, Before Extraordinaries) per share2.32+24.1%2.30-2.5%1.30+14.0%5.98+89.8%1.872.36+18.6%1.14-34.9%3.15-12.3%
EPS (Diluted) per share2.30+25.0%2.27-1.7%1.28+14.3%5.88+90.3%1.842.31+17.9%1.12-34.9%3.09-13.0%
EBITDA4,899.00+7.6%4,631.00+0.0%3,993.00+20.1%6,476.00+26.7%4,553.00+25.7%4,629.00+22.1%3,326.00+17.1%5,113.00-3.5%
Non-Operating Income (Expense)311.00-50.3%371.00253.00964.00+11.4%626.00-530.00-166.6%-144.00-113.9%865.00+693.6%
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense330.00+53.5%352.00+23.5%299.00+44.4%268.00+17.0%215.00+8.0%285.00+33.2%207.00+3.5%229.00+6.0%
Price To Earnings Ratio ratio statement ratio, not the snapshot20.8724.8721.7435.4345.7750.7138.7532.00
Price To Sales Ratio ratio3.003.883.354.184.094.363.743.30
Gross Margin %56.1957.2855.7359.9456.7858.2354.5658.84
Operating Margin %20.5919.1217.0826.3120.0219.8214.7822.79
Net Margin %12.8012.627.6428.4510.6812.927.2616.60
Shares Outstanding million shares945.00+1.1%942.00+1.1%940.00+1.1%936.95+1.2%934.74+1.1%931.52+1.1%929.40+1.2%926.29+1.2%
Market Capitalization231,242.76-12.0%264,305.06-3.5%227,370.06-1.4%276,877.85+36.2%262,837.40+29.1%273,967.65+72.4%230,573.47+31.7%203,264.71+36.1%

Balance sheet, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/20182017FY12/31/2017
Cash & Short Term Investments14,471.00-2.3%14,805.00+10.0%13,462.00+52.3%8,841.00+17.0%7,557.00-47.0%14,251.00+58.2%9,009.00-26.3%12,222.00-4.8%12,842.00
Short Term Receivables18,121.00+18.3%15,313.00+1.6%15,068.00-3.2%15,574.00-3.9%16,200.00-8.7%17,753.00-26.7%24,219.00-21.8%30,984.00-3.5%32,101.00
Inventories1,220.00-5.4%1,289.00+11.0%1,161.00-25.2%1,552.00-5.9%1,649.00-9.0%1,812.00+11.9%1,619.00-3.7%1,682.00+6.3%1,583.00
Other Current Assets2,048.00-3.2%2,116.00-4.6%2,219.00+1.6%2,184.00-28.1%3,036.00-29.9%4,331.00+158.3%1,677.00-14.4%1,958.00+41.0%1,389.00
Total Current Assets35,860.00+7.0%33,523.00+5.1%31,910.00+13.4%28,151.00-1.0%28,442.00-25.4%38,147.00+4.4%36,524.00-22.0%46,846.00-2.2%47,915.00
Net Property, Plant & Equipment9,028.00+1.1%8,928.00+2.4%8,721.00+6.2%8,212.00-7.9%8,916.00-8.8%9,771.00-34.9%15,006.00+39.0%10,792.00-2.9%11,116.00
Total Investments and Advances651.00+34.5%484.00+148.2%195.00+8.3%180.00-26.8%246.00-33.0%367.00+16.1%316.00-44.9%573.00-34.8%879.00
Long-Term Note Receivable7,708.00+44.0%5,353.00-7.2%5,766.00-0.7%5,806.00+3.6%5,606.00-25.3%7,509.00-16.5%8,988.00-5.5%9,507.00-5.0%10,005.00
Intangible Assets79,108.00+10.8%71,366.00+0.2%71,216.00+6.1%67,133.00-1.5%68,154.00+1.0%67,504.00-8.1%73,457.00+86.7%39,352.00-2.9%40,530.00
Deferred Tax Assets8,610.00+23.4%6,978.00+4.8%6,656.00+6.4%6,256.00-15.1%7,370.00-12.3%8,404.00+62.2%5,182.00-0.7%5,216.00+7.3%4,862.00
Other Assets10,915.00+3.5%10,543.00-2.2%10,777.00-6.3%11,506.00-13.3%13,267.00-45.3%24,269.00+90.9%12,713.00+14.6%11,096.00+10.4%10,049.00
Total Assets151,880.00+10.7%137,175.00+1.4%135,241.00+6.3%127,243.00-3.6%132,001.00-15.4%155,971.00+2.5%152,186.00+23.3%123,382.00-1.6%125,356.00
Short Term Debt Incl. Current Port. of LT Debt7,224.00+23.3%5,857.00-19.2%7,246.00+28.6%5,634.00-27.4%7,761.00-4.8%8,151.00-19.9%10,177.00-0.3%10,207.00+46.1%6,987.00
Accounts Payable4,756.00+18.0%4,032.00-2.4%4,132.00+2.0%4,051.00+2.4%3,955.00-1.9%4,033.00-17.6%4,896.00-25.3%6,558.00+1.7%6,451.00
Income Tax Payable2,347.00+15.4%2,033.00-10.4%2,270.00+3.4%2,196.00-4.1%2,289.00-28.4%3,198.00+12.6%2,839.00-6.8%3,046.00-27.8%4,219.00
Other Current Liabilities24,331.00+14.7%21,221.00+3.7%20,473.00+4.3%19,624.00+0.1%19,614.00-19.9%24,487.00+23.7%19,789.00+7.5%18,416.00-6.5%19,706.00
Total Current Liabilities38,658.00+16.6%33,143.00-2.9%34,121.00+8.3%31,505.00-6.3%33,619.00-15.7%39,869.00+5.8%37,701.00-1.4%38,227.00+2.3%37,363.00
Long Term Debt57,383.00+9.2%52,539.00-0.3%52,689.00+8.9%48,379.00+2.1%47,379.00-16.8%56,937.00-1.8%57,981.00+62.8%35,605.00-10.6%39,837.00
Provision for Risks Charges17,143.00-8.2%18,665.00-7.6%20,201.00+8.7%18,585.00-22.0%23,828.00-8.3%25,980.00+2.2%25,419.00+4.8%24,251.00+0.1%24,237.00
Deferred Tax Liabilities781.00-4.2%815.00-28.9%1,146.00-50.0%2,292.00-42.1%3,956.00-20.2%4,958.00-5.2%5,230.00+41.5%3,696.00+578.2%545.00
Other Liabilities5,174.00+12.0%4,621.00+3.4%4,471.00+0.2%4,461.00+5.6%4,223.00-43.7%7,501.00+54.0%4,870.00+4.2%4,673.00-17.3%5,649.00
Total Liabilities119,139.00+8.5%109,783.00-2.5%112,628.00+7.0%105,222.00-6.9%113,005.00-16.4%135,245.00+3.1%131,201.00+23.2%106,452.00-1.1%107,631.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.000.00
Common Equity32,648.00+19.6%27,306.00+21.2%22,533.00+2.7%21,944.00+16.1%18,901.00-8.2%20,597.00-1.2%20,841.00+24.1%16,796.00-4.5%17,594.00
Total Shareholders Equity32,648.00+19.6%27,306.00+21.2%22,533.00+2.7%21,944.00+16.1%18,901.00-8.2%20,597.00-1.2%20,841.00+24.1%16,796.00-4.5%17,594.00
Accumulated Minority Interest93.00+8.1%86.00+7.5%80.00+3.9%77.00-18.9%95.00-26.4%129.00-10.4%144.00+7.5%134.00+2.3%131.00
Total Equity32,741.00+19.5%27,392.00+21.1%22,613.00+2.7%22,021.00+15.9%18,996.00-8.3%20,726.00-1.2%20,985.00+24.0%16,930.00-4.5%17,725.00
Total Liabilities & Stockholders Equity151,880.00+10.7%137,175.00+1.4%135,241.00+6.3%127,243.00-3.6%132,001.00-15.4%155,971.00+2.5%152,186.00+23.3%123,382.00-1.6%125,356.00
Book Value Per Share per share34.84+18.2%29.48+19.7%24.63+1.7%24.22+15.1%21.05-8.8%23.07-1.8%23.49+24.8%18.82-1.4%19.08
Tangible Book Value Per Share per share-49.59-47.57-53.20-49.87-54.84-52.55-59.31-25.27-24.87
Full-Time Employees people286,800-2.2%293,400-3.9%305,300-1.9%311,300+1.2%307,600-18.0%375,300-2.2%383,800+0.7%381,100-4.2%397,800
Price to Book Ratio ratio6.518.316.476.346.355.215.455.776.91
Return on Assets %7.314.425.731.383.272.556.857.014.74
Return on Equity %35.2624.1433.798.7323.8618.9850.1450.7332.13
Return on Invested Capital %11.777.549.972.338.667.2111.9616.6610.02
Quick Ratio ratio0.900.970.900.840.800.910.931.181.24
Current Ratio ratio0.931.010.940.890.850.960.971.231.28

Cash flow, annual

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
MetricTTM2025FY12/31/20252024FY12/31/20242023FY12/31/20232022FY12/31/20222021FY12/31/20212020FY12/31/20202019FY12/31/20192018FY12/31/2018
Net Income11,171.0010,593.00+75.9%6,023.00-19.7%7,502.00+357.7%1,639.00-71.5%5,743.00+2.7%5,590.00-40.7%9,431.00+8.1%8,728.00
Depreciation5,297.005,021.00+7.6%4,667.00+6.2%4,396.00-8.5%4,802.00-25.2%6,417.00-4.2%6,695.00+10.5%6,059.00+35.2%4,480.00
Other Funds (Non Cash)1,851.001,675.00-55.6%3,772.00+291.7%963.00-85.8%6,759.00+901.3%675.00-22.1%866.00-417.00-165.9%633.00
Funds from Operations17,362.0016,332.00+34.6%12,132.00+3.3%11,747.00+12.2%10,474.00-3.3%10,834.00+8.9%9,948.00-26.6%13,546.00-7.8%14,694.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-1,531.00-3,139.00-339.1%1,313.00-39.9%2,184.00-39.00-102.0%1,962.00-76.2%8,249.00+573.9%1,224.00+121.3%553.00
Cash from Operating Activities15,831.0013,193.00-1.9%13,445.00-3.5%13,931.00+33.5%10,435.00-18.5%12,796.00-29.7%18,197.00+23.2%14,770.00-3.1%15,247.00
Capital Expenditures-1,813.00-1,738.00-1,685.00-1,810.00-1,972.00-2,768.00-3,230.00-2,907.00-3,964.00
Net Assets From Acquisitions-11,755.00-8,294.00-3,289.00-5,082.00-2,348.00-3,293.00-336.00-32,630.00-139.00
Sale of Fixed Assets and Businesses93.00120.00-90.4%1,255.00+295.9%317.00-77.1%1,383.00+176.0%501.00-27.5%691.00-57.2%1,613.00+550.4%248.00
Purchase or Sale of Investments1,351.00-391.00-1,218.00-496.00-1,265.00-414.00-628.00-334.3%268.00-554.00
Purchase of Investments-5,954.00-10,095.00-7,762.00-11,143.00-5,930.00-3,561.00-6,246.00-3,693.00-7,041.00
Sale Or Maturity of Investments7,305.009,704.00+48.3%6,544.00-38.5%10,647.00+128.2%4,665.00+48.2%3,147.00-44.0%5,618.00+41.8%3,961.00-38.9%6,487.00
Other Uses0.000.000.000.000.00-1.000.000.00-504.00
Other Sources0.000.000.00-100.0%1.000.000.00-100.0%475.00-92.9%6,720.000.00
Cash from Investing Activities-12,122.00-10,302.00-4,937.00-7,070.00-4,202.00-5,975.00-3,028.00-26,936.00-4,913.00
Cash Dividends Paid-6,336.00-6,255.00-6,147.00-6,040.00-5,948.00-5,869.00-5,797.00-5,707.00-5,666.00
Change in Capital Stock737.00710.00-4.7%745.000.000.000.000.00-1,361.00-4,443.00
Repurchase of Common Pref Stock0.000.000.000.000.000.000.00-1,361.00-4,443.00
Sale of Common Pref Stock737.00710.00-4.7%745.000.000.000.000.000.000.00
Proceedsfrom Stock Options737.00710.00-4.7%745.000.000.000.000.000.000.00
Issuance or Reduction of Debt, Net347.002,873.00-880.00-119.6%4,497.00+268.3%1,221.00-8,115.00-3,714.00-122.8%16,284.00-301.00
Change in Long Term Debt344.002,902.00-910.00-120.2%4,504.00+348.6%1,004.00-8,075.00-2,861.00-115.2%18,881.00-1,642.00
Issuance of Long Term Debt9,415.008,391.00+47.1%5,705.00-40.5%9,586.00+22.8%7,804.00+1395.0%522.00-95.0%10,504.00-67.0%31,825.00+361.8%6,891.00
Reduction of Long Term Debt-9,071.00-5,489.00-6,615.00-5,082.00-6,800.00-8,597.00-13,365.00-12,944.00-8,533.00
Net Financing Active Other Cash Flow-555.00-1,157.00-797.00-226.00-231.00-136.7%630.00-210.00-174.00-59.00
Other Financing Activities Uses-1,112.00-1,157.00-797.00-402.00-407.00-319.00-302.00-272.00-170.00
Cash from Financing Activities-5,808.00-3,829.00-7,079.00-1,769.00-4,958.00-13,354.00-9,721.00-207.5%9,042.00-10,469.00
Exchange Rate Effect-220.00418.00-358.00-4077.8%9.00-243.00-185.00-87.00-166.00-495.00
Net Change in Cash-2,319.00-520.00-148.6%1,071.00-79.0%5,101.00+394.3%1,032.00-6,718.00-225.3%5,361.00-3,290.00-630.00
Free Cash Flow14,656.0012,102.00-2.4%12,397.00-2.3%12,686.00+39.6%9,089.00-15.3%10,734.00-31.1%15,579.00+24.8%12,484.00+5.3%11,852.00
Preferred Dividends (Cash Flow)-0.000.000.000.000.000.000.000.00
Price to Free Cash Flow ratio25.2148.0632.9622.6940.9224.8511.5417.6616.84
Deferred Taxes & Investment Tax Credit--957.00-2,330.00-1,114.00-2,726.00-2,001.00-3,203.00-1,527.00-279.0%853.00

Balance sheet, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Cash & Short Term Investments11,106.00-25.4%8,177.00-47.3%11,828.00-32.8%14,471.00-2.3%14,885.00+8.5%15,530.00-2.7%17,591.00-8.7%14,805.00+10.0%
Short Term Receivables14,546.00+10.7%14,607.00+4.4%14,796.00+14.4%18,121.00+18.3%13,140.00+3.8%13,988.00+8.7%12,935.00+0.7%15,313.00+1.6%
Inventories1,945.00+39.2%1,746.00+39.6%1,476.00+3.1%1,220.00-5.4%1,397.00+2.2%1,251.00+1.4%1,431.00+18.1%1,289.00+11.0%
Other Current Assets2,416.00+9.5%2,629.00+14.3%2,658.00+15.3%2,048.00-3.2%2,206.00+20.2%2,301.00+2.5%2,305.00+1.2%2,116.00-4.6%
Total Current Assets30,015.00-5.1%27,160.00-17.9%30,757.00-10.2%35,860.00+7.0%31,627.00+6.9%33,071.00+2.4%34,262.00-3.8%33,523.00+5.1%
Net Property, Plant & Equipment9,157.00+0.9%8,804.00-4.9%9,000.00-0.7%9,028.00+1.1%9,074.00+1.2%9,258.00+6.0%9,065.00+3.0%8,928.00+2.4%
Total Investments and Advances184.00-48.5%257.00-24.9%191.00-32.3%651.00+34.5%357.00+141.2%342.00+194.8%282.00+135.0%484.00+148.2%
Intangible Assets88,519.00+11.9%88,554.00+11.0%89,333.00+13.9%79,108.00+10.8%79,125.00+9.6%79,759.00+14.5%78,457.00+11.6%71,366.00+0.2%
Deferred Tax Assets8,827.00+3.8%8,709.00+2.8%8,552.00+12.6%8,610.00+23.4%8,505.00+22.5%8,475.00+32.9%7,594.00+17.5%6,978.00+4.8%
Other Assets11,465.00+0.9%11,489.00-0.2%11,384.00+2.7%10,915.00+3.5%11,364.00-1.9%11,509.00+3.0%11,087.00+1.2%10,543.00-2.2%
Total Assets155,011.00+5.9%152,099.00+2.4%156,229.00+7.3%151,880.00+10.7%146,312.00+8.9%148,585.00+11.0%145,667.00+6.2%137,175.00+1.4%
Short Term Debt Incl. Current Port. of LT Debt7,762.00-11.3%6,545.00-33.0%9,453.00+22.6%7,224.00+23.3%8,749.00+99.3%9,765.00+123.8%7,711.00+23.3%5,857.00-19.2%
Accounts Payable4,491.00+16.1%4,395.00+10.6%4,039.00+12.7%4,756.00+18.0%3,867.00+18.1%3,974.00+9.4%3,585.00-0.1%4,032.00-2.4%
Income Tax Payable1,867.00+12.3%2,023.00+20.3%2,053.00+30.5%2,347.00+15.4%1,663.00+5.0%1,681.00-0.6%1,573.00-8.0%2,033.00-10.4%
Other Current Liabilities22,365.00+7.2%22,949.00+2.9%24,556.00+10.4%24,331.00+14.7%20,863.00+6.4%22,306.00+11.7%22,237.00+6.7%21,221.00+3.7%
Total Current Liabilities36,485.00+3.8%35,912.00-4.8%40,101.00+14.2%38,658.00+16.6%35,142.00+21.8%37,726.00+27.2%35,106.00+8.4%33,143.00-2.9%
Long Term Debt59,378.00+2.7%58,727.00+1.3%60,349.00+2.1%57,383.00+9.2%57,820.00+3.7%57,954.00+4.5%59,124.00+4.4%52,539.00-0.3%
Provision for Risks Charges8,452.00-13.2%8,603.00-12.9%8,763.00-8.1%17,143.00-8.2%9,735.00-6.1%9,882.00-3.1%9,536.00-8.5%18,665.00-7.6%
Deferred Tax Liabilities---781.00-4.2%---815.00-28.9%
Other Liabilities14,490.00-7.3%14,316.00-7.2%13,962.00-6.6%5,174.00+12.0%15,625.00+5.2%15,435.00+7.0%14,949.00+3.8%4,621.00+3.4%
Total Liabilities118,805.00+0.4%117,558.00-2.8%123,175.00+3.8%119,139.00+8.5%118,322.00+7.8%120,997.00+10.3%118,715.00+4.3%109,783.00-2.5%
Non-Equity Reserves0.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value0.000.000.000.000.000.000.000.00
Common Equity35,537.00+27.3%34,452.00+25.2%32,974.00+22.7%32,648.00+19.6%27,905.00+14.1%27,509.00+14.5%26,880.00+15.6%27,306.00+21.2%
Total Shareholders Equity35,537.00+27.3%34,452.00+25.2%32,974.00+22.7%32,648.00+19.6%27,905.00+14.1%27,509.00+14.5%26,880.00+15.6%27,306.00+21.2%
Accumulated Minority Interest669.00+687.1%89.00+12.7%81.00+12.5%93.00+8.1%85.00+3.7%79.00+2.6%72.000.0%86.00+7.5%
Total Equity36,206.00+29.4%34,541.00+25.2%33,055.00+22.6%32,741.00+19.5%27,990.00+14.1%27,588.00+14.5%26,952.00+15.5%27,392.00+21.1%
Total Liabilities & Stockholders Equity155,011.00+5.9%152,099.00+2.4%156,230.00+7.3%151,880.00+10.7%146,312.00+8.9%148,585.00+11.0%145,667.00+6.2%137,175.00+1.4%
Book Value Per Share per share37.61+26.0%36.57+23.8%35.08+21.3%34.84+18.2%29.85+12.9%29.53+13.2%28.92+14.2%29.48+19.7%
Tangible Book Value Per Share per share-56.07-57.43-59.96-49.59-54.80-56.09-55.50-47.57
Full-Time Employees people---286,800-2.2%---293,400-3.9%
Price to Book Ratio ratio6.518.026.969.929.5510.198.448.31
Return on Assets %7.417.127.117.315.644.153.884.42
Return on Equity %35.1834.5535.8635.2630.2522.7321.9124.14
Return on Invested Capital %2.312.321.306.222.032.571.233.65
Quick Ratio ratio0.770.710.730.900.860.840.940.97
Current Ratio ratio0.820.760.770.930.900.880.981.01

Cash flow, quarterly

USD millions, except where the row names a unit. The percent under a figure is against the same period a year earlier. TTM has no earlier TTM to compare with, and a ratio or a margin has no change.
Metric2026Q39/30/20262026Q26/30/20262026Q13/31/20262025Q412/31/20252025Q39/30/20252025Q26/30/20252025Q13/31/20252024Q412/31/2024
Net Income2,190.00+25.6%2,165.00-1.3%1,216.00+15.3%5,600.00+92.2%1,744.002,194.00+19.6%1,055.00-34.3%2,914.00-11.4%
Depreciation1,378.00+7.4%1,349.00+6.6%1,274.00+8.2%1,296.00+16.4%1,283.00+1.2%1,265.00+9.5%1,177.00+4.1%1,113.00-3.4%
Other Funds (Non Cash)489.00+11.6%432.00+2.4%494.00+30.3%436.00-38.8%438.00-83.8%422.00+45.5%379.00+465.7%713.00+241.1%
Funds from Operations4,057.00+17.1%3,946.00+1.7%2,984.00+14.3%6,375.00+164.5%3,465.00-4.8%3,881.00+18.4%2,611.00-6.8%2,410.00-31.8%
Extraordinary Item0.000.000.000.000.000.000.000.00
Changes in Working Capital-32.00-1,349.002,185.00+24.2%-2,335.00-221.6%-383.00-2,180.001,759.00+28.9%1,920.00+107.1%
Cash from Operating Activities4,025.00+30.6%2,597.00+52.7%5,169.00+18.3%4,040.00-6.7%3,082.00+7.0%1,701.00-17.7%4,370.00+4.8%4,330.00-3.0%
Capital Expenditures-486.00-383.00-391.00-553.00-417.00-373.00-395.00-444.00
Net Assets From Acquisitions-884.00-15.00-10,465.00-391.00-58.00-747.00-7,098.00-541.00
Sale of Fixed Assets and Businesses58.00+728.6%23.00-37.8%9.00-87.7%3.00-78.6%7.00-98.5%37.00-17.8%73.00-89.8%14.00-92.4%
Purchase or Sale of Investments-1,258.00-4293.3%-107.00-103.8%359.002,357.0030.00-96.5%2,781.00-0.4%-5,559.00-408.00-112.6%
Purchase of Investments-1,898.00-1,259.00-1,612.00-1,185.00-1,170.00-1,254.00-6,486.00-1,261.00
Sale Or Maturity of Investments640.00-46.7%1,152.00-71.4%1,971.00+112.6%3,542.00+315.2%1,200.00-32.4%4,035.00+16.9%927.00+99.8%853.00-78.7%
Other Uses0.000.000.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.000.000.00-100.0%
Cash from Investing Activities-2,569.00-481.00-128.3%-10,489.001,417.00-438.001,698.00-24.2%-12,979.00-1,379.00-148.6%
Cash Dividends Paid-1,596.00-1,590.00-1,576.00-1,574.00-1,569.00-1,563.00-1,549.00-1,546.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.000.000.00
Change in Capital Stock144.00+7.5%240.00+29.7%178.00-17.6%175.00-76.5%134.00185.00216.00745.00
Repurchase of Common Pref Stock0.000.000.000.000.000.000.000.00
Sale of Common Pref Stock144.00+7.5%240.00+29.7%178.00-17.6%175.00-76.5%134.00185.00216.00745.00
Proceedsfrom Stock Options144.00+7.5%240.00+29.7%178.00-17.6%175.00-76.5%134.00185.00216.00745.00
Issuance or Reduction of Debt, Net1,861.00-4,213.004,509.00-36.4%-1,810.00-1,108.00-1,301.007,092.00+109.8%-103.00
Change in Long Term Debt1,858.00-4,213.004,509.00-36.7%-1,810.00-1,108.00-1,301.007,121.00+110.7%-124.00
Issuance of Long Term Debt1,978.00+32866.7%0.00-100.0%7,437.00-11.2%0.006.007.00-96.8%8,378.00+52.7%0.00
Reduction of Long Term Debt-120.00-4,213.00-2,928.00-1,810.00-1,114.00-1,308.00-1,257.00-124.00
Net Financing Active Other Cash Flow198.00-164.00-392.00-197.00-469.00-1402.8%-175.00-316.00-1958.8%-772.00-3069.2%
Other Financing Activities Uses-359.00-164.00-392.00-197.00-469.00-175.00-316.00-259.00
Cash from Financing Activities606.00-5,727.002,719.00-50.0%-3,406.00-3,012.00-2,854.005,443.00+190.0%-1,676.00
Exchange Rate Effect2.00-34.00-110.6%-177.00-206.0%-11.00-58.00-128.0%320.00167.00-329.00-355.0%
Net Change in Cash2,064.00-3,645.00-521.4%-2,778.002,040.00+115.6%-426.00865.00-2,999.00-278.9%946.00-83.7%
Free Cash Flow3,693.00+30.6%2,368.00+58.8%4,937.00+19.7%3,658.00-9.2%2,827.00+8.9%1,491.00-19.2%4,126.00+5.0%4,027.00-3.2%
Price to Free Cash Flow ratio25.2135.8334.8048.2542.8846.2836.6233.15

Revenue breakdown

USD millions, so a column adds up to the income statement. Share is of the latest year in that split. The change is versus the older year shown, not TTM.

Product
Name20242025vs 20242025 share
Automation6,558.007,733.00+17.9%11.5%
Consolidation, Policy956.00800.00-16.3%1.2%
Data5,629.006,299.00+11.9%9.3%
Hybrid Cloud6,490.007,327.00+12.9%10.8%
Hybrid Infrastructure8,913.0010,618.00+19.1%15.7%
Infrastructure Support5,107.005,100.00-0.1%7.6%
Intelligent Operations9,204.009,518.00+3.4%14.1%
Strategy And Technology11,488.0011,537.00+0.4%17.1%
Transaction Processing8,408.008,603.00+2.3%12.7%
Total62,753.0067,535.00+7.6%100.0%
Region
Name20242025vs 20242025 share
Other Countries37,609.0040,643.00+8.1%60.2%
United States25,144.0026,892.00+7.0%39.8%
Total62,753.0067,535.00+7.6%100.0%
Segment
Name20242025vs 20242025 share
Consolidation, Policy243.0063.00-74.1%0.1%
Consulting20,692.0021,055.00+1.8%31.2%
Financing713.00737.00+3.4%1.1%
Infrastructure14,020.0015,718.00+12.1%23.3%
Software27,085.0029,962.00+10.6%44.4%
Total62,753.0067,535.00+7.6%100.0%

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-301.89%17.8M944.2M5.56M
2026-10-152.11%19.9M944.2M6.66M
2026-09-302.57%24.2M941.2M8.21M
2026-09-152.38%22.4M941.2M8.78M
2026-08-312.34%22.0M941.1M9.87M
2026-08-142.34%22.1M941.0M11.19M
2026-07-312.37%22.3M941.2M11.18M
2026-07-153.52%33.1M938.9M10.47M
2026-06-303.65%34.3M938.9M8.62M
2026-06-153.19%29.9M938.0M7.95M
2026-05-293.25%30.6M938.9M7.00M
2026-05-152.86%26.9M938.9M6.25M
2026-04-302.39%22.5M938.9M6.45M
2026-04-152.37%22.2M937.0M5.95M
2026-03-312.49%23.3M937.0M5.90M
2026-03-132.37%22.2M937.0M5.62M
2026-02-272.28%21.4M937.0M5.11M
2026-02-132.10%19.7M937.0M4.53M
2026-01-302.00%18.7M933.8M4.28M
2026-01-152.13%19.9M934.0M4.69M

Option chain

expiry 2026-11-13
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call120122.9126.75125.999.69219.0022.000.999-0.0690.000
call125118.5121121.718.37019.0054.000.999-0.0690.000
call130113.35116.8116.558.7959.001040.999-0.0690.000
call135108.4110.95111.597.4857.002120.999-0.0690.000
call140103.25106.8106.557.9145.002490.999-0.0690.000
call14598.25101.75101.567.4545.001170.999-0.0690.000
call15093.2596.8096.517.09110.0056.000.999-0.0690.000
call15587.9091.0091.526.0222.0054.000.999-0.0690.000
call16083.2586.0086.536.3324.0010.000.999-0.0690.000
call16578.1581.8581.405.9580.006.000.999-0.0690.000
call17073.1576.8576.415.6262.004.000.999-0.0690.000
call17567.9071.8071.415.2163.008.000.999-0.0690.000
call18062.9066.8566.374.8904.0016.000.999-0.0690.001
call18558.1561.0061.264.0282.0012.000.998-0.0690.001
call19053.4056.0056.273.7190.002.000.998-0.0690.001
call19549.0051.8051.623.88113.006.000.998-0.0680.001
call197.546.4549.3049.123.7042.006.000.998-0.0680.001
call20044.2046.0044.173.11411.000.000.998-0.0680.001
call202.541.2543.5041.183.3681.000.000.998-0.0670.001
call20538.3041.8538.683.2302.000.000.998-0.0670.001
call207.536.2538.5536.203.0462.000.000.998-0.0670.001
call21033.3536.8533.682.9172.000.000.997-0.0670.001
call212.531.0534.3031.212.7351.000.000.997-0.0660.001
call21528.8531.8029.182.5751.000.000.997-0.0660.001
call217.525.8529.3524.302.4330.000.000.989-0.2320.003
call22024.1026.0027.551.9330.000.000.988-0.2280.004
call222.521.4524.3522.032.1088.000.000.982-0.3090.005
call22518.8021.2519.601.7329.000.000.975-0.3730.007
call227.516.6018.5519.521.5039.000.000.967-0.4360.009
call23014.0016.0015.801.33214.0012.000.940-0.7160.014
call232.510.9014.3514.301.4381.0032.000.906-0.9760.020
call2358.7011.0511.851.0326.0022.000.900-0.8320.021
call237.56.108.657.850.8932.002.000.847-1.0330.028
call2404.606.455.850.7891555.000.763-1.2490.036
call242.52.963.503.500.48486.005.000.662-1.1870.043
call2451.601.861.710.4324031900.478-1.2030.047
call247.50.690.840.700.4123202340.290-1.0300.040
call2500.240.320.300.4058822540.188-0.9530.032
call252.50.100.130.110.4243265280.106-0.6760.021
call2550.030.120.050.5171,3394350.092-0.7440.019
call257.50.010.320.090.6139771570.056-0.5270.013
call2600.000.060.030.6001,3964670.044-0.4530.011
call262.50.020.100.090.67515242.000.037-0.4360.010
call2650.010.090.040.79189271.000.026-0.3650.007
call267.50.000.090.060.86518926.000.019-0.2800.005
call2700.010.030.010.8641,34048.000.009-0.1470.003
call272.50.000.030.010.93465.0087.000.008-0.1500.003
call2750.000.010.020.8911,58721.000.006-0.0980.002
call277.50.000.380.010.95232.000.000.003-0.0610.001
call2800.000.010.030.8694091.000.003-0.0500.001
call282.50.000.670.010.9011410.000.003-0.0500.001
call2850.000.100.041.13129011.000.003-0.0630.001
call287.50.002.130.011.18810.000.000.002-0.0640.001
call2900.001.500.011.2091350.000.002-0.0620.001
call292.50.002.130.011.3023.000.000.002-0.0650.001
call2950.000.010.021.1489.000.000.002-0.0520.001
call297.50.002.130.001.4130.000.000.002-0.0660.001
call3000.000.750.011.4681540.000.002-0.0660.001
call302.50.002.130.061.48238.000.000.002-0.0640.001
call3050.002.130.151.53548.000.000.002-0.0650.001
call3100.000.750.701.67911.000.000.002-0.0680.001
call3150.002.130.001.7380.000.000.002-0.0660.001
call3200.002.130.281.8364.000.000.002-0.0670.001
call3250.002.130.011.9781.000.000.002-0.0700.001
put1200.000.210.004.7940.000.00-0.001-0.0740.000
put1250.000.010.014.5330.001.00-0.001-0.0730.000
put1300.000.010.064.1260.001.00-0.001-0.0670.000
put1350.000.010.003.8940.000.00-0.001-0.0670.000
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Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-09424B3SEC
2026-11-0225-NSESEC
2026-10-2210-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-10-218-KCurrent report2026-10-21SEC
2026-10-083Initial statement of beneficial ownership of securities2026-10-01SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-014Statement of changes in beneficial ownership of securities2026-09-30SEC
2026-10-018-KCurrent report2026-10-01SEC
2026-08-284Statement of changes in beneficial ownership of securities2026-08-26SEC
2026-08-284Statement of changes in beneficial ownership of securities2026-08-27SEC
2026-08-26144Filing for proposed sale of securities under Rule 144.SEC
2026-08-148-KCurrent report2026-08-10SEC
2026-08-11424B5SEC
2026-08-10FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-08-10424B3SEC
2026-07-29S-8 POSPost-effective amendment to a S-8 registration statementSEC
2026-07-2310-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-07-228-KCurrent report2026-07-22SEC
2026-07-148-KCurrent report2026-07-14SEC
2026-07-024Statement of changes in beneficial ownership of securities2026-07-01SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-08005.76M1
2026-070000
2026-060000
2026-050000
2026-040000
2026-030000
2026-02113.15K200
2026-01304.00K100
2025-120000
2025-110000

Institutional holders

Manager% owned
BlackRock, Inc.8.17%
VANGUARD CAPITAL MANAGEMENT LLC6.53%
STATE STREET CORP5.93%
VANGUARD PORTFOLIO MANAGEMENT LLC3.02%
GEODE CAPITAL MANAGEMENT, LLC2.54%
MORGAN STANLEY1.86%
BANK OF AMERICA CORP /DE/1.59%
Capital World Investors1.16%
JPMORGAN CHASE & CO1.14%
NORTHERN TRUST CORP1.09%

Funds

Fund% owned
Navigator Tactical Fixed Income Fund10.64%
VANGUARD WELLESLEY INCOME FUND3.59%
PGIM Short-Term Corporate Bond Fund3.19%
PGIM Ultra Short Bond ETF3.18%
VANGUARD TOTAL STOCK MARKET INDEX FUND3.17%
iShares Ultra Short Duration Bond Active ETF2.92%
iShares iBonds Dec 2026 Term Corporate ETF2.77%
iShares iBonds Dec 2029 Term Corporate ETF2.73%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND2.66%
VANGUARD 500 INDEX FUND2.59%

OakChart. IBM. Cached 15 minutes. Terms