International Business Machines (IBM) FY2023 results: revenue $61.9 billion, up 2.2% on the year
International Business Machines Corp. (IBM) reported revenue of $61.9 billion for fiscal 2023, the year ended 31 December 2023, up 2.2% on the year before. Net income was $7.5 billion, up 357.7%, and diluted earnings per share $8.14. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$61.9 billion
+2.2% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$7.5 billion
+357.7% on the year
FY2016FY2023
Diluted EPS
$8.14
+352.2% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
13,931
10,435
12,796
+33.5%
Capital expenditure
1,245
1,346
2,062
-7.5%
Free cash flow
12,686
9,089
10,734
+39.6%
Free cash flow margin
20.5%
15.0%
18.7%
Cash from investing
-7,070
-4,202
-5,975
Cash from financing
-1,769
-4,958
-13,354
Depreciation and amortisation
4,396
4,802
6,417
-8.5%
Share-based compensation
1,133
987
982
+14.8%
Dividends paid
6,040
5,948
5,869
+1.5%
Dividend per share
$6.63
$6.59
$6.55
+0.6%
Diluted shares, weighted
922m
912m
905m
+1.1%
Shares outstanding at period end
915m
906m
898m
+1.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
22,533
21,944
18,901
+2.7%
Non-controlling interest
80.0
77.0
95.0
+3.9%
Debt
56,547
50,949
51,704
+11.0%
Operating lease liabilities
2,568
2,190
2,462
+17.3%
Finance lease liabilities
379
164
63.0
+131.1%
Other liabilities
53,134
51,919
58,776
+2.3%
Total liabilities and equity
135,241
127,243
132,001
+6.3%
Fixed assets
n/a
5,334
5,694
Goodwill
60,178
55,949
55,643
+7.6%
Intangible assets
11,036
11,184
12,511
-1.3%
Cash and equivalents
13,068
7,886
6,650
+65.7%
Receivables
7,214
6,541
6,754
+10.3%
Inventory
1,161
1,552
1,649
-25.2%
Other assets
42,584
38,797
43,100
+9.8%
Total assets
135,241
127,243
132,001
+6.3%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.