FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
7Y

Three-Statement Breakdown

IBM
2026-06-30 · figures in $M

FCF DOWN

Free cash flow fell 2.4% to $12.1B, and covered net income 1.14×.

CASH FROM OPS -1.9%
13,193 19.5% MGN
CAPITAL EXPENDITURE +4.1%
1,091
FREE CASH FLOW -2.4%
12,102
FCF / NET INCOME -44.5%
1.14× TARGET >1.0×
Cash flow FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 YoY TTM 8Q
Net income
9,431 5,590 5,743 1,639 7,502 6,023 10,593 +75.9% 10,725 2024-09-30 · -$330.0M2024-12-31 · $2.9B2025-03-31 · $1.1B2025-06-30 · $2.2B2025-09-30 · $1.7B2025-12-31 · $5.6B2026-03-31 · $1.2B2026-06-30 · $2.2B
Stock-based comp
679 937 982 987 1,133 1,311 1,715 +30.8% 1,877
Cash from operations
14,770 18,197 12,796 10,435 13,931 13,445 13,193 -1.9% 14,888 2024-09-30 · $2.9B2024-12-31 · $4.3B2025-03-31 · $4.4B2025-06-30 · $1.7B2025-09-30 · $3.1B2025-12-31 · $4.0B2026-03-31 · $5.2B2026-06-30 · $2.6B
Cash conversion
1.57× 3.26× 2.23× 6.37× 1.86× 2.23× 1.25× -44.2% 1.39×
Capital expenditures
(2,286) (2,618) (2,062) (1,346) (1,245) (1,048) (1,091) +4.1% (1,098)
Free cash flow
12,484 15,579 10,734 9,089 12,686 12,397 12,102 -2.4% 13,790 2024-09-30 · $2.6B2024-12-31 · $4.0B2025-03-31 · $4.1B2025-06-30 · $1.5B2025-09-30 · $2.8B2025-12-31 · $3.7B2026-03-31 · $4.9B2026-06-30 · $2.4B
FCF margin
21.6% 28.2% 18.7% 15.0% 20.5% 19.8% 17.9% -9.3% 20.0%
Cash from investing
-26,936 -3,028 -5,975 -4,202 -7,070 -4,937 -10,302 — -9,991
Dividends paid
5,707 5,797 5,869 5,948 6,040 6,147 6,255 +1.8% 6,309
Share repurchases
NOT DISCLOSED
1,361 — — — — — — — —
Debt repayment
12,944 13,365 8,597 6,800 5,082 6,615 5,489 -17.0% 10,065
Cash from financing
9,042 -9,721 -13,354 -4,958 -1,769 -7,079 -3,829 — -9,426
Net change in cash
-3,290 5,361 -6,718 1,032 5,101 1,071 -520 — -4,809
Ending cash balance
8,172 13,188 6,650 7,886 13,068 13,947 13,587 -2.6% 7,172

Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.

SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM12,397 CASH FROM OPERATIONS-252 CAPITAL EXPENDITURES-43 TO12,102
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-07-23 ↗