Financial snapshot

Quarterly snapshot

This page features a recent snapshot of IBM's financial performance. More detailed information about the company's financial performance can be found in IBM's periodic financial reports, which are available on the company's website and on the SEC's website.

Full Year 2016 Highlights*:

* All revenue growth @cc and adjusted for divested businesses

 

($ in Billions, except per share amounts)
P&L Highlights
(From Continuing Operations)
FY
2015
B/(W)
Yr/Yr
FY
2016
B/(W)
Yr/Yr
Revenue$81.7(1%)*$79.9(2%)
Pre-Tax Income - Operating$17.7(16%)$13.9(21%)
Net Income - Operating$14.7(12%)$13.0(11%)
EPS (Diluted) - Operating$14.92(10%)$13.59(9%)
Free Cash Flow**$13.16%$11.6(11%)
* @ constant currency & excluding divestited businesses
** Net Cash from Ops excl GF Receivables, less Capital Expenditures

 

($ in Billions)
Balance SheetDec
2015
Dec
2016
Assets  
Cash & Marketable Securities$8.2$8.5
Global Financing Assets$34.6$34.6
Non-Global Financing Assets*$67.7$74.4
 $110.5$117.5
Liabilities  
Global Financing Debt$27.2$27.9
Non-Global Financing Debt*$12.7$14.3
Other Liabilities$56.2$56.9
 $96.1$99.1
Equity$14.4$18.4
* Includes eliminations of inter-company activity

 

Key P&L Metrics - Operating
(From Continuing Operations)
FY
2015
B/(W)
Yr/Yr
FY
2016
B/(W)
Yr/Yr
Gross Profit Margin50.8%0.2 pts48.9%(1.9 pts)
Expense / Revenue % *29.2%(1.3 pts)31.5%(2.3 pts)
Pre-Tax Income Margin21.6%(1.1 pts)17.4%(4.2 pts)
Tax Rate17.2%3.8 pts6.5%10.7 pts
Net Income Margin17.9%(0.1 pts)16.3%(1.6 pts)
* Total Operating Expense & Other Income / Revenue

 

Key MetricsDec
2015
Dec
2016
Non GF Debt/Cap54.3%49.5%
Global Financing Leverage7.37.3
Dividend Yield4.3%3.1%
Credit Rating (Moody's, S&P)*Aa3, AA-Aa3, AA-
* Credit ratings are not recommendations to purchase, hold, or sell any IBM securities or to make any investment decisions

 


In an effort to provide additional and useful information regarding the company’s financial results and other financial information as determined by generally accepted accounting principles (GAAP), these materials contain certain non-GAAP financial measures on a continuing operations basis, including revenue at constant currency, strategic imperatives revenue at constant currency, operating earnings per share, free cash flow, operating gross profit margin, operating pre-tax income and margin, operating tax rate, operating net income and margin, and the December 2016 and December 2015 non Global Financing debt-to-capital ratio. The rationale for management’s use of this non-GAAP information is included as Exhibit 99.2 to the company’s Form 8-K submitted to the SEC on January 19, 2017. For reconciliation of these non-GAAP financial measures to GAAP and other information, please refer Exhibit 99.3 of the company's Form 8-K submitted to the SEC on January 19, 2017.

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