IBM
International Business Machines Corp Information Technology Computer & office Equipment S&P 500Dow 30Russell 3000
$257.81Close
$241.6BMarket cap
$204.30 – $326.8952-week range
Jan 20, 2027Next report · estimated
Highlights
Strengths
- Earnings growing EPS +25% year on year, faster than the quarter before (+27 pts)
Cautions
- Not in an uptrend 3 of 8 trend conditions
- Lagging the market RS 49 · weaker than 51% of stocks over 12 months
Price
Filing Results Screen pick 52-week high and low Adjusted prices
Key figures
Off 12-month high
21%
1wk
up 1.7%
price change
1mo
up 17.2%
price change
12-month return
down 15%
market up 11% ·
its own down 25%
F-score
6 / 9
Mixed
Altman Z
3.35
Low risk
P/E
22.8×
price / earnings
PEG
0.31
P/E / EPS growth
P/B
7.4×
price / book
Earnings yield
up 4.3%
EBIT / enterprise value
Cheaper than
49%
of the market · around average
Revenue growth
up 8%
year on year
EPS growth
up 25%
latest quarter · +27 pts
Sales growth
up 5%
latest quarter · +4 pts
ROE
up 35%
return on equity
Free cash margin
up 18%
$12.1B FCF
D/E
1.68
long-term debt / equity
Net debt / EBITDA
3.4×
Interest cover
6.3×EBIT / interest
Piotroski tests
- took on more long-term debt
- short-term liquidity weakened
- issued more shares
- profitable on its assets
- generating cash from operations
- profitability improving
- profits backed by cash
- gross margin widened
- assets working harder
Repair signals
- Gross margin 56.7% → 58.2%
Trade setup
ATR%
2.8%
$7.14 a day · 2×ATR $243.53
RS
49 / 99
vs the universe
Trend
3 / 8
trend template
Relative volume
1.1×
vs 50-day average
Up/down volume
1.06
50 sessions
Implied move
—
no scheduled report
Trend template · 3 of 8
- Price above the 150 and 200-day averages: passes
- 150-day average above the 200-day: fails
- 200-day average rising for a month: fails
- 50-day average above the 150 and 200-day: fails
- Price above the 50-day average: passes
- At least 30% above the 52-week low: fails
- Within 25% of the 52-week high: passes
- RS rank 70 or higher: fails
Screen verdict
Did not qualify for any screen.
Warning signs
- No restatement or impairment
- Equity positive
- Interest covered
- No material dilution
- Profits tracking cash
- Margins and revenue not shrinking
Last reported
Oct 21, 2026
Last shock
Jul 14, 2026-25% in one session6.5× volumeon results+20% since
Options
$25.3M34.1% IV · activity
Financials
- Gross 58%
- Net 16%
- Free cash 18%
- Cash
- Long-term debt
| FY2020Dec 31, 2020 | FY2021Dec 31, 2021 | FY2022Dec 31, 2022 | FY2023Dec 31, 2023 | FY2024Dec 31, 2024 | FY2025Dec 31, 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $55.2B | $57.4B | $60.5B | $61.9B | $62.8B | $67.5B |
| Gross margin | 56% | 55% | 54% | 55% | 57% | 58% |
| Net income | $5.6B | $5.7B | $1.6B | $7.5B | $6.0B | $10.6B |
| Net margin | 10% | 10% | 3% | 12% | 10% | 16% |
| Earnings per share | $6.23 | $6.35 | $1.80 | $8.14 | $6.43 | $11.17 |
| Free cash flow | $15.6B | $10.7B | $9.1B | $12.7B | $12.4B | $12.1B |
| Free cash margin | 28% | 19% | 15% | 21% | 20% | 18% |
| Cash | $13.2B | $6.7B | $7.9B | $13.1B | $13.9B | $13.6B |
| Long-term debt | $54.2B | $44.9B | $46.2B | $50.1B | $49.9B | $54.8B |
| Shareholders' equity | $20.6B | $18.9B | $21.9B | $22.5B | $27.3B | $32.6B |
| Shares outstanding | 892.65m | 898.07m | 906.09m | 915.01m | 926.29m | 936.95m |
What options price now
- Expected 1-month range The at-the-money straddle for the expiry nearest a month out, as a share of the price: the move, either way, the option market is pricing by then. The range is the price plus and minus that move; the stock ends inside it a little more often than not. Methodology
- $239 – $276 ±7.3% by Nov 27, 2026
- Swings expected vs recent The daily swings the options are priced for (implied volatility) against the swings the stock actually had over the last 20 sessions (realised volatility). Bigger means options charge for more movement than the stock has been delivering; smaller, less. On a contract row, that contract's own implied volatility over the stock's realised. Methodology
- Bigger 34.1% priced · 23.1% recent
- Next month vs later At-the-money implied volatility for 8-45 day expiries over 46-90 day ones: whether options price the coming month as choppier or calmer than the two after it. Ahead of a report it usually reads choppier, and the extra comes out once the report is out. Methodology
- About the same
- Crash protection What options that pay off in a fall cost against options that pay off in a rise (the 25-delta skew), compared with this company's own normal - the median of its stored nightly readings, once there are 20 - and with five sessions ago. Protection costs a little more than upside on most shares. More than usual means readers of the chain are paying up to insure against a drop; it does not say which way the stock will go. Methodology
- past week: costs more
Positioning
- Premium traded
- $25.3M calls $18.1M · puts $7.3M · latest session
- 0.40× +0.17 over the week
- Open interest added The change over five sessions in option positions left open overnight, calls and puts. A rise means positions were added. It cannot say whether they were bought or sold, so more calls is not a vote for a rise: a call is as often sold against shares already held. Methodology
- calls -36.99k · puts -29.58k past week
For options traders: ATM IV 34.1% (-0.5% 1w) · 1m ÷ 3m IV 1.01 · 25Δ skew 2.8 pts · Net GEX $59.9M
Most traded contracts
No contract passed the liquidity filters this week.
Filings
| Filed | Report | Period to | Lag |
|---|---|---|---|
| Oct 22, 2026 | Quarterly ↗ | Sep 30, 2026 | 22d |
| Jul 23, 2026 | Quarterly ↗ | Jun 30, 2026 | 23d |
| Apr 23, 2026 | Quarterly ↗ | Mar 31, 2026 | 23d |
| Feb 24, 2026 | Annual ↗ | Dec 31, 2025 | 55d |
| Oct 23, 2025 | Quarterly ↗ | Sep 30, 2025 | 23d |
| Jul 24, 2025 | Quarterly ↗ | Jun 30, 2025 | 24d |
| Apr 24, 2025 | Quarterly ↗ | Mar 31, 2025 | 24d |
| Feb 25, 2025 | Annual ↗ | Dec 31, 2024 | 56d |
| Oct 30, 2024 | Quarterly ↗ | Sep 30, 2024 | 30d |
| Jul 30, 2024 | Quarterly ↗ | Jun 30, 2024 | 30d |
| Apr 30, 2024 | Quarterly ↗ | Mar 31, 2024 | 30d |
| Feb 26, 2024 | Annual ↗ | Dec 31, 2023 | 57d |
Current reports
| Filed | Disclosed |
|---|---|
| Oct 21, 2026 | Results ↗ |
| Oct 1, 2026 | Director or officer change · Charter or bylaws ↗ |
| Aug 14, 2026 | Exhibits only ↗ |
| Jul 22, 2026 | Results ↗ |
| Jul 14, 2026 | Results · Regulation FD ↗ |
| Jun 23, 2026 | Material agreement · New obligation ↗ |
| May 28, 2026 | Regulation FD ↗ |
| May 1, 2026 | Director or officer change · Charter or bylaws · Shareholder vote ↗ |
| Apr 22, 2026 | Results ↗ |
| Mar 3, 2026 | Charter or bylaws ↗ |
| Feb 2, 2026 | Exhibits only ↗ |
| Jan 30, 2026 | Director or officer change ↗ |