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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry
vs
history
Cash to Debt 0.21
NYSE:IBM's Cash to Debt is ranked lower than
58% of the 2641 Companies
in the Global Information Technology Services industry.

( Industry Median: 7.06 vs. NYSE:IBM: 0.21 )
NYSE:IBM' s 10-Year Cash to Debt Range
Min: 0.13   Max: 0.6
Current: 0.21

0.13
0.6
Equity to Asset 0.10
NYSE:IBM's Equity to Asset is ranked lower than
60% of the 2471 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.59 vs. NYSE:IBM: 0.10 )
NYSE:IBM' s 10-Year Equity to Asset Range
Min: 0.1   Max: 0.31
Current: 0.1

0.1
0.31
Interest Coverage 36.76
NYSE:IBM's Interest Coverage is ranked higher than
51% of the 1646 Companies
in the Global Information Technology Services industry.

( Industry Median: 10000.00 vs. NYSE:IBM: 36.76 )
NYSE:IBM' s 10-Year Interest Coverage Range
Min: 10.47   Max: 69.58
Current: 36.76

10.47
69.58
F-Score: 5
Z-Score: 4.06
M-Score: -2.97
WACC vs ROIC
7.10%
28.58%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 19.29
NYSE:IBM's Operating margin (%) is ranked higher than
91% of the 2607 Companies
in the Global Information Technology Services industry.

( Industry Median: 5.74 vs. NYSE:IBM: 19.29 )
NYSE:IBM' s 10-Year Operating margin (%) Range
Min: 8.37   Max: 19.56
Current: 19.29

8.37
19.56
Net-margin (%) 13.23
NYSE:IBM's Net-margin (%) is ranked higher than
88% of the 2607 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.65 vs. NYSE:IBM: 13.23 )
NYSE:IBM' s 10-Year Net-margin (%) Range
Min: 4.41   Max: 16.52
Current: 13.23

4.41
16.52
ROE (%) 82.81
NYSE:IBM's ROE (%) is ranked higher than
99% of the 2536 Companies
in the Global Information Technology Services industry.

( Industry Median: 6.80 vs. NYSE:IBM: 82.81 )
NYSE:IBM' s 10-Year ROE (%) Range
Min: 15.48   Max: 85.15
Current: 82.81

15.48
85.15
ROA (%) 10.05
NYSE:IBM's ROA (%) is ranked higher than
87% of the 2651 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.48 vs. NYSE:IBM: 10.05 )
NYSE:IBM' s 10-Year ROA (%) Range
Min: 3.83   Max: 14.09
Current: 10.05

3.83
14.09
ROC (Joel Greenblatt) (%) 90.50
NYSE:IBM's ROC (Joel Greenblatt) (%) is ranked higher than
83% of the 2620 Companies
in the Global Information Technology Services industry.

( Industry Median: 30.94 vs. NYSE:IBM: 90.50 )
NYSE:IBM' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 27.05   Max: 112.68
Current: 90.5

27.05
112.68
Revenue Growth (3Y)(%) 1.40
NYSE:IBM's Revenue Growth (3Y)(%) is ranked higher than
62% of the 2039 Companies
in the Global Information Technology Services industry.

( Industry Median: 5.30 vs. NYSE:IBM: 1.40 )
NYSE:IBM' s 10-Year Revenue Growth (3Y)(%) Range
Min: -12.4   Max: 21.1
Current: 1.4

-12.4
21.1
EBITDA Growth (3Y)(%) 4.60
NYSE:IBM's EBITDA Growth (3Y)(%) is ranked higher than
68% of the 1678 Companies
in the Global Information Technology Services industry.

( Industry Median: 6.50 vs. NYSE:IBM: 4.60 )
NYSE:IBM' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -22.7   Max: 31.9
Current: 4.6

-22.7
31.9
EPS Growth (3Y)(%) 6.10
NYSE:IBM's EPS Growth (3Y)(%) is ranked higher than
71% of the 1540 Companies
in the Global Information Technology Services industry.

( Industry Median: 6.40 vs. NYSE:IBM: 6.10 )
NYSE:IBM' s 10-Year EPS Growth (3Y)(%) Range
Min: -16.1   Max: 26.4
Current: 6.1

-16.1
26.4
» NYSE:IBM's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q2 2014

IBM Guru Trades in Q2 2014

Brian Rogers 750,000 sh (New)
Paul Tudor Jones 10,182 sh (New)
Jim Simons 1,649,800 sh (+713.07%)
Joel Greenblatt 146,846 sh (+712.29%)
Ray Dalio 209,520 sh (+55.18%)
Robert Bruce 118,500 sh (+27.28%)
Bill Frels 184,172 sh (+9.65%)
HOTCHKIS & WILEY 1,653,462 sh (+6.14%)
Chris Davis 21,659 sh (+3.45%)
Diamond Hill Capital 1,166,973 sh (+2.95%)
Warren Buffett 70,173,978 sh (+2.66%)
John Buckingham 35,441 sh (+1.85%)
Mario Gabelli 35,370 sh (+0.78%)
Louis Moore Bacon 2,310 sh (unchged)
Steven Cohen 18,000 sh (unchged)
Richard Snow 1,205 sh (unchged)
Steven Cohen 40,000 sh (unchged)
John Rogers 50,382 sh (unchged)
Prem Watsa 1,200 sh (unchged)
Ruane Cunniff 1,468,391 sh (-0.55%)
Irving Kahn 3,258 sh (-0.76%)
Arnold Van Den Berg 68,459 sh (-0.86%)
Dodge & Cox 127,420 sh (-2.10%)
Ronald Muhlenkamp 5,170 sh (-7.68%)
Jean-Marie Eveillard 10,428 sh (-10.63%)
Private Capital 2,714 sh (-11.13%)
Pioneer Investments 306,518 sh (-11.92%)
Tom Russo 11,555 sh (-15.13%)
Jeremy Grantham 8,061,408 sh (-15.79%)
David Dreman 11,540 sh (-25.50%)
James Barrow 242,484 sh (-60.76%)
Ken Fisher 103,060 sh (-96.68%)
» More
Q3 2014

IBM Guru Trades in Q3 2014

Prem Watsa 1,068,100 sh (+88908.30%)
Chris Davis 2,389,948 sh (+10934.40%)
Irving Kahn 7,258 sh (+122.77%)
Joel Greenblatt 197,782 sh (+34.69%)
Diamond Hill Capital 1,310,068 sh (+12.26%)
Bill Frels 198,670 sh (+7.87%)
Arnold Van Den Berg 72,252 sh (+5.54%)
John Rogers 51,282 sh (+1.79%)
James Barrow 244,654 sh (+0.89%)
John Buckingham 35,728 sh (+0.81%)
David Dreman 11,547 sh (+0.06%)
Steven Cohen 30,000 sh (unchged)
Richard Snow 1,205 sh (unchged)
Brian Rogers 750,000 sh (unchged)
Warren Buffett 70,478,012 sh (unchged)
Ronald Muhlenkamp 5,170 sh (unchged)
Robert Bruce 118,500 sh (unchged)
Pioneer Investments 305,608 sh (unchged)
Louis Moore Bacon Sold Out
Steven Cohen Sold Out
Private Capital Sold Out
Jean-Marie Eveillard 10,252 sh (-1.69%)
Dodge & Cox 125,165 sh (-1.77%)
Mario Gabelli 34,585 sh (-2.22%)
HOTCHKIS & WILEY 1,615,947 sh (-2.27%)
Ruane Cunniff 1,415,603 sh (-3.59%)
Tom Russo 10,455 sh (-9.52%)
Ray Dalio 171,240 sh (-18.27%)
Jeremy Grantham 6,064,070 sh (-24.78%)
Ken Fisher 46,796 sh (-54.59%)
Paul Tudor Jones 1,500 sh (-85.27%)
Jim Simons 44,800 sh (-97.28%)
» More
Q4 2014

IBM Guru Trades in Q4 2014

Edward Lampert 216,605 sh (New)
Paul Tudor Jones 24,628 sh (+1541.87%)
Jim Simons 673,200 sh (+1402.68%)
Joel Greenblatt 431,911 sh (+118.38%)
Brian Rogers 1,500,000 sh (+100.00%)
Prem Watsa 1,363,100 sh (+27.62%)
Robert Bruce 138,500 sh (+16.88%)
Warren Buffett 76,971,817 sh (+9.21%)
Bill Frels 212,712 sh (+7.07%)
David Dreman 11,825 sh (+2.41%)
HOTCHKIS & WILEY 1,654,481 sh (+2.38%)
John Buckingham 36,180 sh (+1.27%)
Diamond Hill Capital 1,318,010 sh (+0.61%)
Warren Buffett 76,980,817 sh (+0.01%)
Arnold Van Den Berg Sold Out
Richard Snow Sold Out
John Rogers 51,182 sh (-0.20%)
Ruane Cunniff 1,411,033 sh (-0.32%)
Irving Kahn 7,158 sh (-1.38%)
Ronald Muhlenkamp 5,090 sh (-1.55%)
James Barrow 239,476 sh (-2.12%)
Jean-Marie Eveillard 9,952 sh (-2.93%)
Dodge & Cox 121,357 sh (-3.04%)
Tom Russo 9,849 sh (-5.80%)
Ray Dalio 147,144 sh (-14.07%)
Ken Fisher 36,006 sh (-23.06%)
Jeremy Grantham 3,730,093 sh (-38.49%)
Mario Gabelli 17,485 sh (-49.44%)
Pioneer Investments 126,705 sh (-58.54%)
Chris Davis 20,760 sh (-99.13%)
» More
Q1 2015

IBM Guru Trades in Q1 2015

Brian Rogers 1,500,000 sh (unchged)
» More
» Details

Insider Trades

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Guru Investment Theses on International Business Machines Corp

Diamond Hill Capital Comments on International Business Machines Corp - Mar 17, 2015

Diversified information technology company International Business Machines Corp. (IBM) declined after the company reported disappointing third quarter earnings and management indicated that it would fail to meet the 2015 earnings guidance detailed in the company’s much-publicized 2015 Roadmap.

From Diamond Hill Capital (Trades, Portfolio)’s Select Fund Q4 2014 Commentary.

Check out Diamond Hill Capital latest stock trades

Diamond Hill Capital Comments on International Business Machines Corp - Oct 17, 2014

Diversified information technology company International Business Machines Corp. (IBM) reported second quarter earnings that demonstrated continued execution of the company’s long-term plans. Revenue in the Systems & Technology (hardware) segment as well as revenue in China, two areas of recent concern, improved during the quarter leading to less investor pessimism about the future.

From Diamond Hill Capital (Trades, Portfolio)'s Select Fund Third Quarter 2014 Commentary.

Check out Diamond Hill Capital latest stock trades

Diamond Hill Capital Comments on International Business Machines Corp - Jul 25, 2014

Shares of diversified information technology company International Business Machines Corp. (IBM) declined during the quarter as investors continued to worry about the company’s ability to grow revenue, particularly in China and other emerging markets. We continue to have a favorable view of the company’s long-term competitive position.

From Diamond Hill Capital (Trades, Portfolio)'s Select Fund Second Quarter 2014 Commentary.

Check out Diamond Hill Capital latest stock trades

Hotchkis & Wiley Comments on IBM - Mar 20, 2014

We took a new position in IBM (IBM) (1.5%)*, which we believe is a well-positioned, diversified technology company with a strong balance sheet, prudent capital allocation, and an attractive valuation.



From Hotchkis & Wiley's fourth quarter 2013 manager commentary.



Check out Hotchkis & Wiley latest stock trades

Top Ranked Articles about International Business Machines Corp

Diamond Hill Capital Comments on International Business Machines Corp
Diversified information technology company International Business Machines Corp. (IBM) declined after the company reported disappointing third quarter earnings and management indicated that it would fail to meet the 2015 earnings guidance detailed in the company’s much-publicized 2015 Roadmap. Read more...
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According to GuruFocus list of 3-year lows, International Business Machines Corp, Ambev SA, Itau Unibanco Holding SA and Occidental Petroleum Corp have all reached their 3-year lows. Read more...
Berkshire Hathaway Buys IBM, Deere, Restaurant Brands, Sells Exxon Mobil, Liberty Broadband Corp
Warren Buffett (Trades, Portfolio)’s investment company Berkshire Hathaway just reported its fourth quarter portfolio. Berkshire buys IBM, Deere & Co, Restaurant Brands International Inc, Charter Communications Inc, Precision Castparts Corp, Twenty-First Century Fox Inc, Suncor Energy Inc, Directv, sells Exxon Mobil Corporation, Liberty Broadband Corp, Liberty Broadband Corp, ConocoPhillips, Express Scripts during the 3-months ended 12/31/2014, according to the most recent filings of his investment company, Berkshire Hathaway. Read more...
Prem Watsa Buys IBM, Bally Technologies, Rayonier Advanced Materials, Sells Idenix Pharmaceuticals, Questcor Pharmaceuticals, Susser Holdings
Prem Watsa (Trades, Portfolio) Buys IBM, Bally Technologies, Rayonier Advanced Materials, Sells Idenix Pharmaceuticals, Questcor Pharmaceuticals, Susser Holdings Read more...
Guru Stocks at 52-Week Lows: IBM, BBL, SNY, SAN, RIO
According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. Read more...
Diamond Hill Capital Comments on International Business Machines Corp
Diversified information technology company International Business Machines Corp. (IBM) reported second quarter earnings that demonstrated continued execution of the company’s long-term plans. Revenue in the Systems & Technology (hardware) segment as well as revenue in China, two areas of recent concern, improved during the quarter leading to less investor pessimism about the future. Read more...
Diamond Hill Capital Comments on International Business Machines Corp
Shares of diversified information technology company International Business Machines Corp. (IBM) declined during the quarter as investors continued to worry about the company’s ability to grow revenue, particularly in China and other emerging markets. We continue to have a favorable view of the company’s long-term competitive position. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 14.30
IBM's P/E(ttm) is ranked higher than
92% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 78.80 vs. IBM: 14.30 )
IBM' s 10-Year P/E(ttm) Range
Min: 8.86   Max: 22.45
Current: 14.3

8.86
22.45
Forward P/E 10.32
IBM's Forward P/E is ranked higher than
100% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 10.32 )
N/A
PE(NRI) 11.00
IBM's PE(NRI) is ranked higher than
95% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 79.90 vs. IBM: 11.00 )
IBM' s 10-Year PE(NRI) Range
Min: 8.86   Max: 22.4
Current: 11

8.86
22.4
P/B 13.90
IBM's P/B is ranked lower than
61% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.63 vs. IBM: 13.90 )
IBM' s 10-Year P/B Range
Min: 3.34   Max: 14.16
Current: 13.9

3.34
14.16
P/S 1.86
IBM's P/S is ranked higher than
100% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 2.70 vs. IBM: 1.86 )
IBM' s 10-Year P/S Range
Min: 1   Max: 2.38
Current: 1.86

1
2.38
PFCF 13.50
IBM's PFCF is ranked higher than
90% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 212.81 vs. IBM: 13.50 )
IBM' s 10-Year PFCF Range
Min: 7.59   Max: 18.08
Current: 13.5

7.59
18.08
POCF 10.14
IBM's POCF is ranked higher than
89% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 32.90 vs. IBM: 10.14 )
IBM' s 10-Year POCF Range
Min: 5.93   Max: 12.94
Current: 10.14

5.93
12.94
EV-to-EBIT 11.50
IBM's EV-to-EBIT is ranked higher than
88% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 45.12 vs. IBM: 11.50 )
IBM' s 10-Year EV-to-EBIT Range
Min: 8.2   Max: 18.6
Current: 11.5

8.2
18.6
PEG 1.69
IBM's PEG is ranked higher than
94% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 1.69 )
IBM' s 10-Year PEG Range
Min: 0.64   Max: 24.53
Current: 1.69

0.64
24.53
Shiller P/E 13.00
IBM's Shiller P/E is ranked higher than
97% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 13.00 )
IBM' s 10-Year Shiller P/E Range
Min: 11.65   Max: 25.04
Current: 13

11.65
25.04
Current Ratio 1.25
IBM's Current Ratio is ranked higher than
51% of the 2527 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.91 vs. IBM: 1.25 )
IBM' s 10-Year Current Ratio Range
Min: 1.09   Max: 1.36
Current: 1.25

1.09
1.36
Quick Ratio 1.19
IBM's Quick Ratio is ranked higher than
53% of the 2527 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.79 vs. IBM: 1.19 )
IBM' s 10-Year Quick Ratio Range
Min: 0.97   Max: 1.29
Current: 1.19

0.97
1.29
Days Inventory 18.09
IBM's Days Inventory is ranked higher than
83% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 280.96 vs. IBM: 18.09 )
IBM' s 10-Year Days Inventory Range
Min: 16.22   Max: 49.01
Current: 18.09

16.22
49.01
Days Sales Outstanding 46.59
IBM's Days Sales Outstanding is ranked higher than
88% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 87.14 vs. IBM: 46.59 )
IBM' s 10-Year Days Sales Outstanding Range
Min: 35.76   Max: 90.6
Current: 46.59

35.76
90.6

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.58
IBM's Dividend Yield is ranked higher than
72% of the 1265 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.68 vs. IBM: 2.58 )
IBM' s 10-Year Dividend Yield Range
Min: 0.71   Max: 2.77
Current: 2.58

0.71
2.77
Dividend Payout 0.27
IBM's Dividend Payout is ranked higher than
94% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 0.27 )
IBM' s 10-Year Dividend Payout Range
Min: 0.11   Max: 0.42
Current: 0.27

0.11
0.42
Dividend growth (3y) 13.60
IBM's Dividend growth (3y) is ranked higher than
80% of the 789 Companies
in the Global Information Technology Services industry.

( Industry Median: 8.30 vs. IBM: 13.60 )
IBM' s 10-Year Dividend growth (3y) Range
Min: 7.3   Max: 34.6
Current: 13.6

7.3
34.6
Yield on cost (5-Year) 5.09
IBM's Yield on cost (5-Year) is ranked higher than
85% of the 1297 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.85 vs. IBM: 5.09 )
IBM' s 10-Year Yield on cost (5-Year) Range
Min: 1.39   Max: 5.43
Current: 5.09

1.39
5.43
Share Buyback Rate 5.90
IBM's Share Buyback Rate is ranked higher than
96% of the 1755 Companies
in the Global Information Technology Services industry.

( Industry Median: -1.40 vs. IBM: 5.90 )
IBM' s 10-Year Share Buyback Rate Range
Min: 14.2   Max: -11.3
Current: 5.9

Valuation & Return

vs
industry
vs
history
Price/DCF (Projected) 1.00
IBM's Price/DCF (Projected) is ranked higher than
94% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 1.00 )
IBM' s 10-Year Price/DCF (Projected) Range
Min: 0.7   Max: 6.08
Current: 1

0.7
6.08
Price/Median PS Value 1.10
IBM's Price/Median PS Value is ranked higher than
80% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.40 vs. IBM: 1.10 )
IBM' s 10-Year Price/Median PS Value Range
Min: 0.41   Max: 1.69
Current: 1.1

0.41
1.69
Price/Peter Lynch Fair Value 1.90
IBM's Price/Peter Lynch Fair Value is ranked higher than
93% of the 2946 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 1.90 )
IBM' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.66   Max: 4.07
Current: 1.9

0.66
4.07
Earnings Yield (Greenblatt) 8.60
IBM's Earnings Yield (Greenblatt) is ranked higher than
86% of the 2583 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.20 vs. IBM: 8.60 )
IBM' s 10-Year Earnings Yield (Greenblatt) Range
Min: 5.4   Max: 12.3
Current: 8.6

5.4
12.3
Forward Rate of Return (Yacktman) 13.26
IBM's Forward Rate of Return (Yacktman) is ranked higher than
76% of the 1141 Companies
in the Global Information Technology Services industry.

( Industry Median: 11.82 vs. IBM: 13.26 )
IBM' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -2.4   Max: 23.7
Current: 13.26

-2.4
23.7

Business Description

Industry: Application Software » Information Technology Services
Compare:AAPL, HPQ, DELL, LNVGY, NIPNF » details
Traded in other countries:IBM.UK, IBMC.Belgium, IBMA.Netherlands, IBM.Germany, IBMB34.Brazil, IBM.Mexico, IBM.Argentina, IBM.Chile, IBM.Switzerland,
International Business Machines Corp was incorporated in the State of New York on June 16, 1911. The company creates business value for clients and solves business problems through integrated solutions that leverage information technology and knowledge of business processes. Its solutions create value by reducing a client's operational costs or by enabling new capabilities that generate revenue. These solutions draw from an industry portfolio of consulting, delivery and implementation services, enterprise software, systems and financing. The company's operations consist of five business segments namely Global Technology Services and Global Business Services, which the company collectively calls Global Services, and Software, Systems and Technology and Global Financing. Global Services is a component of the company's strategy of providing IT infrastructure and business insight and solutions to clients. While solutions include industry's IBM software and systems, other suppliers' products are also used if a client solution requires it. Within Global Services, there are two reportable segments namely Global Technology Services and Global Business Services. Global Technology Services (GTS) provides IT infrastructure and business process services, creating business value for clients through technology and IP, Global Business Services (GBS) delivers predictable business outcomes to the company's clients across two primary business areas namely Consulting and Application Management Services. The role of GBS is to drive initiatives that integrate IBM content and solutions and drive the progress of the company's four growth initiatives. Software consists mainly of middleware and operating systems software. Middleware software enables clients to integrate systems, processes and applications across a standard software platform to improve their business results, solve critical problems and gain competitive advantage within their industries. IBM middleware is designed on open standards, making it easier to integrate disparate business applications, developed by different methods and implemented at different times. Operating systems are the software engines that run computers. Systems and Technology (STG) provides clients with business solutions requiring advanced computing power and storage capabilities. Approximately half of Systems and Technology's server and storage sales transactions are through the company's business partners; with the balance direct to end-user clients. In addition, Systems and Technology provides semiconductor technology, products and packaging solutions for IBM's own advanced technology needs and for external clients. Global Financing facilitates clients' acquisition of IBM systems, software and services. Global Financing invests in financing assets, leverages with debt and manages the associated risks with the objective of generating consistent returns on equity. The Company has global presence, operating in more th
» More Articles for IBM

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