International Business Machines (IBM) FY2024 results: revenue $62.8 billion, up 1.4% on the year
International Business Machines Corp. (IBM) reported revenue of $62.8 billion for fiscal 2024, the year ended 31 December 2024, up 1.4% on the year before. Net income was $6.0 billion, down 19.7%, and diluted earnings per share $6.43. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$62.8 billion
+1.4% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$6.0 billion
-19.7% on the year
FY2017FY2024
Diluted EPS
$6.43
-21.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
13,445
13,931
10,435
-3.5%
Capital expenditure
1,048
1,245
1,346
-15.8%
Free cash flow
12,397
12,686
9,089
-2.3%
Free cash flow margin
19.8%
20.5%
15.0%
Cash from investing
-4,937
-7,070
-4,202
Cash from financing
-7,079
-1,769
-4,958
Depreciation and amortisation
4,667
4,396
4,802
+6.2%
Share-based compensation
1,311
1,133
987
+15.7%
Dividends paid
6,147
6,040
5,948
+1.8%
Dividend per share
$6.67
$6.63
$6.59
+0.6%
Diluted shares, weighted
937m
922m
912m
+1.6%
Shares outstanding at period end
926m
915m
906m
+1.2%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
27,307
22,533
21,944
+21.2%
Non-controlling interest
86.0
80.0
77.0
+7.5%
Debt
54,973
56,547
50,949
-2.8%
Operating lease liabilities
2,655
2,568
2,190
+3.4%
Finance lease liabilities
803
379
164
+111.9%
Other liabilities
51,351
53,134
51,919
-3.4%
Total liabilities and equity
137,175
135,241
127,243
+1.4%
Fixed assets
n/a
n/a
5,334
Goodwill
60,706
60,178
55,949
+0.9%
Intangible assets
10,660
11,036
11,184
-3.4%
Cash and equivalents
13,947
13,068
7,886
+6.7%
Receivables
6,804
7,214
6,541
-5.7%
Inventory
1,289
1,161
1,552
+11.0%
Other assets
43,769
42,584
38,797
+2.8%
Total assets
137,175
135,241
127,243
+1.4%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.