International Business Machines Past Earnings Performance
Past criteria checks 4/6
International Business Machines's earnings have been declining at an average annual rate of -13.7%, while the IT industry saw earnings growing at 8.8% annually. Revenues have been declining at an average rate of 5% per year. International Business Machines's return on equity is 35%, and it has net margins of 13.1%.
Key information
-13.7%
Earnings growth rate
-14.2%
EPS growth rate
| IT Industry Growth | 22.4% |
| Revenue growth rate | -5.0% |
| Return on equity | 35.0% |
| Net Margin | 13.1% |
| Next Earnings Update | 24 Jul 2024 |
Recent past performance updates
Recent updates
Do International Business Machines' (NYSE:IBM) Earnings Warrant Your Attention?
Jun 04
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Jan 30IBM: Trading Like The Also-Ran It Isn't
Jan 22Does International Business Machines (NYSE:IBM) Have A Healthy Balance Sheet?
Jan 19Risks To Shareholder Returns Are Elevated At These Prices For International Business Machines Corporation (NYSE:IBM)
Jan 03IBM: Hybrid Platform & Solutions And Consulting Steer The Ship After Kyndryl Spun-Off
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Dec 22IBM: Defying Massive Skepticism As It Surged Above A 5-Year High
Dec 16Estimating The Intrinsic Value Of International Business Machines Corporation (NYSE:IBM)
Dec 04Revenue & Expenses Breakdown
How International Business Machines makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 24 | 62,069 | 8,155 | 18,581 | 6,916 |
| 31 Dec 23 | 61,860 | 7,514 | 18,482 | 6,775 |
| 30 Sep 23 | 61,171 | 7,098 | 24,492 | 6,631 |
| 30 Jun 23 | 60,525 | 2,170 | 24,651 | 6,557 |
| 31 Mar 23 | 60,585 | 2,054 | 24,889 | 6,543 |
| 31 Dec 22 | 60,530 | 1,782 | 25,090 | 6,567 |
| 30 Sep 22 | 60,534 | 1,376 | 19,581 | 6,588 |
| 30 Jun 22 | 59,678 | 5,627 | 19,656 | 6,583 |
| 31 Mar 22 | 58,363 | 4,972 | 19,681 | 6,551 |
| 31 Dec 21 | 57,351 | 4,713 | 20,027 | 6,488 |
| 30 Sep 21 | 42,582 | 1,946 | 18,365 | 6,403 |
| 30 Jun 21 | 46,892 | 2,608 | 18,664 | 6,312 |
| 31 Mar 21 | 50,793 | 3,159 | 19,004 | 6,253 |
| 31 Dec 20 | 55,179 | 3,932 | 20,561 | 6,262 |
| 30 Sep 20 | 75,030 | 7,905 | 21,378 | 6,318 |
| 30 Jun 20 | 75,497 | 7,879 | 21,429 | 6,303 |
| 31 Mar 20 | 76,536 | 9,018 | 21,090 | 6,128 |
| 31 Dec 19 | 57,714 | 7,146 | 18,724 | 5,910 |
| 30 Sep 19 | 77,131 | 7,719 | 19,864 | 5,698 |
| 30 Jun 19 | 77,858 | 8,738 | 19,617 | 5,450 |
| 31 Mar 19 | 78,701 | 8,641 | 19,801 | 5,407 |
| 31 Dec 18 | 79,591 | 8,723 | 19,366 | 5,379 |
| 30 Sep 18 | 80,373 | 5,718 | 20,631 | 5,399 |
| 30 Jun 18 | 80,771 | 5,751 | 21,557 | 5,438 |
| 31 Mar 18 | 80,056 | 5,680 | 21,009 | 5,511 |
| 31 Dec 17 | 79,139 | 5,758 | 21,137 | 5,590 |
| 30 Sep 17 | 78,366 | 11,316 | 20,442 | 5,643 |
| 30 Jun 17 | 78,439 | 11,445 | 19,497 | 5,749 |
| 31 Mar 17 | 79,390 | 11,617 | 20,129 | 5,777 |
| 31 Dec 16 | 79,919 | 11,881 | 20,225 | 5,726 |
| 30 Sep 16 | 80,208 | 11,836 | 20,188 | 5,682 |
| 30 Jun 16 | 80,261 | 11,943 | 20,100 | 5,572 |
| 31 Mar 16 | 80,835 | 12,965 | 19,788 | 5,407 |
| 31 Dec 15 | 81,741 | 13,364 | 19,589 | 5,247 |
| 30 Sep 15 | 83,795 | 14,417 | 19,844 | 5,205 |
| 30 Jun 15 | 86,913 | 14,911 | 20,474 | 5,272 |
| 31 Mar 15 | 90,147 | 15,637 | 21,054 | 5,333 |
| 31 Dec 14 | 92,793 | 15,751 | 21,549 | 5,437 |
| 30 Sep 14 | 96,066 | 16,453 | 22,131 | 5,569 |
| 30 Jun 14 | 97,007 | 17,137 | 22,116 | 5,571 |
| 31 Mar 14 | 97,196 | 16,379 | 22,183 | 5,501 |
| 31 Dec 13 | 98,368 | 16,881 | 22,395 | 5,743 |
| 30 Sep 13 | 100,286 | 16,498 | 22,332 | 5,871 |
| 30 Jun 13 | 101,695 | 16,182 | 22,435 | 6,049 |
Quality Earnings: IBM has high quality earnings.
Growing Profit Margin: IBM's current net profit margins (13.1%) are higher than last year (3.4%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: IBM's earnings have declined by 13.7% per year over the past 5 years.
Accelerating Growth: IBM's earnings growth over the past year (297%) exceeds its 5-year average (-13.7% per year).
Earnings vs Industry: IBM earnings growth over the past year (297%) exceeded the IT industry -0.2%.
Return on Equity
High ROE: Whilst IBM's Return on Equity (34.95%) is high, this metric is skewed due to their high level of debt.