International Business Machines (IBM) FY2022 results: revenue $60.5 billion, up 5.5% on the year
International Business Machines Corp. (IBM) reported revenue of $60.5 billion for fiscal 2022, the year ended 31 December 2022, up 5.5% on the year before. Net income was $1.6 billion, down 71.5%, and diluted earnings per share $1.80. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2023.
Revenue
$60.5 billion
+5.5% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$1.6 billion
-71.5% on the year
FY2015FY2022
Diluted EPS
$1.80
-71.7% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
10,435
12,796
18,197
-18.5%
Capital expenditure
1,346
2,062
2,618
-34.7%
Free cash flow
9,089
10,734
15,579
-15.3%
Free cash flow margin
15.0%
18.7%
28.2%
Cash from investing
-4,202
-5,975
-3,028
Cash from financing
-4,958
-13,354
-9,721
Depreciation and amortisation
4,802
6,417
6,695
-25.2%
Share-based compensation
987
982
937
+0.5%
Dividends paid
5,948
5,869
5,797
+1.3%
Dividend per share
$6.59
$6.55
$6.51
+0.6%
Diluted shares, weighted
912m
905m
897m
+0.8%
Shares outstanding at period end
906m
898m
893m
+0.9%
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
21,944
18,901
20,597
+16.1%
Non-controlling interest
77.0
95.0
129
-18.9%
Debt
50,949
51,704
61,333
-1.5%
Operating lease liabilities
2,190
2,462
2,720
-11.0%
Finance lease liabilities
164
63.0
60.0
+160.3%
Other liabilities
51,919
58,776
71,132
-11.7%
Total liabilities and equity
127,243
132,001
155,971
-3.6%
Fixed assets
5,334
5,694
6,205
-6.3%
Goodwill
55,949
55,643
53,765
+0.5%
Intangible assets
11,184
12,511
13,739
-10.6%
Investments
n/a
n/a
600
Cash and equivalents
7,886
6,650
13,212
+18.6%
Receivables
6,541
6,754
5,790
-3.2%
Inventory
1,552
1,649
1,812
-5.9%
Other assets
38,797
43,100
60,848
-10.0%
Total assets
127,243
132,001
155,971
-3.6%
10-K for the year ended 31 December 2022, filed 28 February 2023: the filing.