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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 0.28
IBM's Cash to Debt is ranked lower than
56% of the 2067 Companies
in the Global Information Technology Services industry.

( Industry Median: 4.91 vs. IBM: 0.28 )
IBM' s 10-Year Cash to Debt Range
Min: 0.13   Max: 0.6
Current: 0.28

0.13
0.6
Equity to Asset 0.18
IBM's Equity to Asset is ranked lower than
58% of the 1993 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.60 vs. IBM: 0.18 )
IBM' s 10-Year Equity to Asset Range
Min: 0.1   Max: 0.31
Current: 0.18

0.1
0.31
Interest Coverage 36.76
IBM's Interest Coverage is ranked higher than
55% of the 1316 Companies
in the Global Information Technology Services industry.

( Industry Median: 858.90 vs. IBM: 36.76 )
IBM' s 10-Year Interest Coverage Range
Min: 10.47   Max: 69.58
Current: 36.76

10.47
69.58
F-Score: 4
Z-Score: 3.98
M-Score: 3.93
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 : 8/10

vs
industry
vs
history
Operating margin (%) 18.65
IBM's Operating margin (%) is ranked higher than
91% of the 2050 Companies
in the Global Information Technology Services industry.

( Industry Median: 5.48 vs. IBM: 18.65 )
IBM' s 10-Year Operating margin (%) Range
Min: 8.37   Max: 19.56
Current: 18.65

8.37
19.56
Net-margin (%) 12.88
IBM's Net-margin (%) is ranked higher than
89% of the 2050 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.80 vs. IBM: 12.88 )
IBM' s 10-Year Net-margin (%) Range
Min: 4.41   Max: 16.52
Current: 12.88

4.41
16.52
ROE (%) 72.52
IBM's ROE (%) is ranked higher than
99% of the 1993 Companies
in the Global Information Technology Services industry.

( Industry Median: 7.06 vs. IBM: 72.52 )
IBM' s 10-Year ROE (%) Range
Min: 15.48   Max: 85.15
Current: 72.52

15.48
85.15
ROA (%) 9.86
IBM's ROA (%) is ranked higher than
89% of the 2075 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.76 vs. IBM: 9.86 )
IBM' s 10-Year ROA (%) Range
Min: 3.83   Max: 14.09
Current: 9.86

3.83
14.09
ROC (Joel Greenblatt) (%) 86.79
IBM's ROC (Joel Greenblatt) (%) is ranked higher than
85% of the 2055 Companies
in the Global Information Technology Services industry.

( Industry Median: 29.03 vs. IBM: 86.79 )
IBM' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 27.05   Max: 112.68
Current: 86.79

27.05
112.68
EBITDA Growth (3Y)(%) -3.50
IBM's EBITDA Growth (3Y)(%) is ranked higher than
64% of the 1326 Companies
in the Global Information Technology Services industry.

( Industry Median: 7.70 vs. IBM: -3.50 )
IBM' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -22.7   Max: 426.4
Current: -3.5

-22.7
426.4
EPS Growth (3Y)(%) -100.00
IBM's EPS Growth (3Y)(%) is ranked higher than
71% of the 1267 Companies
in the Global Information Technology Services industry.

( Industry Median: 7.70 vs. IBM: -100.00 )
IBM' s 10-Year EPS Growth (3Y)(%) Range
Min: -100   Max: 415.9
Current: -100

-100
415.9
» IBM's 10-Y Financials

Financials


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

» Details

Guru Trades

Q1 2014

IBM Guru Trades in Q1 2014

Louis Moore Bacon 2,310 sh (New)
Richard Snow 1,205 sh (New)
Arnold Van Den Berg 69,054 sh (+4152.09%)
Steven Cohen 16,388 sh (+979.58%)
Bill Frels 167,957 sh (+61.3%)
David Dreman 15,489 sh (+60.77%)
Robert Bruce 93,100 sh (+19.21%)
Diamond Hill Capital 1,133,568 sh (+17.16%)
HOTCHKIS & WILEY 1,557,841 sh (+11.64%)
Chris Davis 20,936 sh (+9.7%)
Jeremy Grantham 9,572,485 sh (+6.36%)
John Buckingham 34,796 sh (+2.85%)
John Rogers 50,382 sh (+2.03%)
Ken Fisher 3,102,792 sh (+0.61%)
Warren Buffett 68,355,084 sh (+0.34%)
Prem Watsa 1,200 sh (unchged)
Irving Kahn 3,283 sh (unchged)
Steven Cohen 42,500 sh (unchged)
Jean-Marie Eveillard 11,668 sh (unchged)
Paul Tudor Jones Sold Out
John Hussman Sold Out
Tom Gayner Sold Out
Private Capital 3,054 sh (-0.33%)
Ruane Cunniff 1,476,489 sh (-0.34%)
Dodge & Cox 130,151 sh (-2.4%)
Pioneer Investments 348,001 sh (-4.68%)
Ronald Muhlenkamp 5,600 sh (-7.44%)
James Barrow 617,984 sh (-10.16%)
Mario Gabelli 35,095 sh (-15.16%)
Joel Greenblatt 18,078 sh (-15.4%)
Tom Russo 13,615 sh (-18.32%)
Ray Dalio 135,020 sh (-19.54%)
Jim Simons 202,910 sh (-68.16%)
» More
Q2 2014

IBM Guru Trades in Q2 2014

Paul Tudor Jones 10,182 sh (New)
Brian Rogers 750,000 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%)
Prem Watsa 1,200 sh (unchged)
Steven Cohen 40,000 sh (unchged)
John Rogers 50,382 sh (unchged)
Richard Snow 1,205 sh (unchged)
Steven Cohen 18,000 sh (unchged)
Louis Moore Bacon 2,310 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 (-2.1%)
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 (-25.5%)
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 (+88908.3%)
Chris Davis 2,389,948 sh (+10934.4%)
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%)
Warren Buffett 70,478,012 sh (+0.43%)
David Dreman 11,547 sh (+0.06%)
Brian Rogers 750,000 sh (unchged)
Steven Cohen 30,000 sh (unchged)
Robert Bruce 118,500 sh (unchged)
Ronald Muhlenkamp 5,170 sh (unchged)
Richard Snow 1,205 sh (unchged)
Steven Cohen Sold Out
Private Capital Sold Out
Louis Moore Bacon Sold Out
Pioneer Investments 305,608 sh (-0.3%)
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

Brian Rogers 1,500,000 sh (+100%)
Arnold Van Den Berg Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with IBM

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Arnold Van Den Berg 2014-12-31 Sold Out 1.4%$151.41 - $189.36 $ 155.87-6%0
Brian Rogers 2014-12-31 Add 100%0.44%$151.41 - $189.36 $ 155.87-6%1500000
Prem Watsa 2014-09-30 Add 88908.3%13.68%$184.3 - $195.78 $ 155.87-18%1068100
Chris Davis 2014-09-30 Add 10934.4%1.39%$184.3 - $195.78 $ 155.87-18%2389948
Irving Kahn 2014-09-30 Add 122.77%0.12%$184.3 - $195.78 $ 155.87-18%7258
Joel Greenblatt 2014-09-30 Add 34.69%0.1%$184.3 - $195.78 $ 155.87-18%197782
Private Capital 2014-09-30 Sold Out 0.06%$184.3 - $195.78 $ 155.87-18%0
Ken Fisher 2014-09-30 Reduce -54.59%0.02%$184.3 - $195.78 $ 155.87-18%46796
Ken Fisher 2014-06-30 Reduce -96.68%1.26%$180.37 - $197.77 $ 155.87-17%103060
Robert Bruce 2014-06-30 Add 27.28%1.05%$180.37 - $197.77 $ 155.87-17%118500
Brian Rogers 2014-06-30 New Buy0.48%$180.37 - $197.77 $ 155.87-17%750000
Warren Buffett 2014-06-30 Add 2.66%0.31%$180.37 - $197.77 $ 155.87-17%70173978
Joel Greenblatt 2014-06-30 Add 712.29%0.29%$180.37 - $197.77 $ 155.87-17%146846
Ray Dalio 2014-06-30 Add 55.18%0.1%$180.37 - $197.77 $ 155.87-17%209520
James Barrow 2014-06-30 Reduce -60.76%0.1%$180.37 - $197.77 $ 155.87-17%242484
David Dreman 2014-06-30 Reduce -25.5%0.06%$180.37 - $197.77 $ 155.87-17%11540
Arnold Van Den Berg 2014-03-31 Add 4152.09%1.07%$172.84 - $195.04 $ 155.87-15%69054
John Hussman 2014-03-31 Sold Out 0.8%$172.84 - $195.04 $ 155.87-15%0
Robert Bruce 2014-03-31 Add 19.21%0.77%$172.84 - $195.04 $ 155.87-15%93100
Tom Gayner 2014-03-31 Sold Out 0.14%$172.84 - $195.04 $ 155.87-15%0
HOTCHKIS & WILEY 2014-03-31 Add 11.64%0.11%$172.84 - $195.04 $ 155.87-15%1557841
David Dreman 2014-03-31 Add 60.77%0.09%$172.84 - $195.04 $ 155.87-15%15489
Richard Snow 2014-03-31 New Buy0.01%$172.84 - $195.04 $ 155.87-15%1205
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on International Business Machines Corp

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

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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...
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Ratios

vs
industry
vs
history
P/E(ttm) 13.10
IBM's P/E(ttm) is ranked higher than
93% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 60.00 vs. IBM: 13.10 )
IBM' s 10-Year P/E(ttm) Range
Min: 8.86   Max: 22.45
Current: 13.1

8.86
22.45
Forward P/E 9.21
IBM's Forward P/E is ranked higher than
97% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 9.21 )
N/A
PE(NRI) 10.10
IBM's PE(NRI) is ranked higher than
96% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 66.10 vs. IBM: 10.10 )
IBM' s 10-Year PE(NRI) Range
Min: 8.86   Max: 22.4
Current: 10.1

8.86
22.4
P/B 7.21
IBM's P/B is ranked higher than
52% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.50 vs. IBM: 7.21 )
IBM' s 10-Year P/B Range
Min: 3.34   Max: 13.62
Current: 7.21

3.34
13.62
P/S 1.69
IBM's P/S is ranked higher than
76% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 2.71 vs. IBM: 1.69 )
IBM' s 10-Year P/S Range
Min: 1   Max: 2.38
Current: 1.69

1
2.38
PFCF 20.56
IBM's PFCF is ranked higher than
85% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 100.95 vs. IBM: 20.56 )
IBM' s 10-Year PFCF Range
Min: 7.61   Max: 21.54
Current: 20.56

7.61
21.54
POCF 14.62
IBM's POCF is ranked higher than
82% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 28.38 vs. IBM: 14.62 )
IBM' s 10-Year POCF Range
Min: 5.93   Max: 15.32
Current: 14.62

5.93
15.32
EV-to-EBIT 10.72
IBM's EV-to-EBIT is ranked higher than
88% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 36.31 vs. IBM: 10.72 )
IBM' s 10-Year EV-to-EBIT Range
Min: 7.9   Max: 18.6
Current: 10.72

7.9
18.6
PEG 25.25
IBM's PEG is ranked higher than
85% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 25.25 )
IBM' s 10-Year PEG Range
Min: 0.64   Max: 24.53
Current: 25.25

0.64
24.53
Shiller P/E 11.86
IBM's Shiller P/E is ranked higher than
97% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 11.86 )
IBM' s 10-Year Shiller P/E Range
Min: 11.82   Max: 25.04
Current: 11.86

11.82
25.04
Current Ratio 1.25
IBM's Current Ratio is ranked higher than
53% of the 2032 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.90 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
55% of the 2032 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.77 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 17.92
IBM's Days Inventory is ranked higher than
83% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 164.49 vs. IBM: 17.92 )
IBM' s 10-Year Days Inventory Range
Min: 16.22   Max: 49.01
Current: 17.92

16.22
49.01
Days Sales Outstanding 46.90
IBM's Days Sales Outstanding is ranked higher than
88% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 81.01 vs. IBM: 46.90 )
IBM' s 10-Year Days Sales Outstanding Range
Min: 5.8   Max: 90.6
Current: 46.9

5.8
90.6

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.73
IBM's Dividend Yield is ranked higher than
75% of the 1053 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.61 vs. IBM: 2.73 )
IBM' s 10-Year Dividend Yield Range
Min: 0.66   Max: 2.74
Current: 2.73

0.66
2.74
Dividend Payout 0.26
IBM's Dividend Payout is ranked higher than
95% of the 2289 Companies
in the Global Information Technology Services industry.

( Industry Median: 0.00 vs. IBM: 0.26 )
IBM' s 10-Year Dividend Payout Range
Min: 0.11   Max: 13
Current: 0.26

0.11
13
Dividend growth (3y) -100.00
IBM's Dividend growth (3y) is ranked higher than
84% of the 620 Companies
in the Global Information Technology Services industry.

( Industry Median: 5.20 vs. IBM: -100.00 )
IBM' s 10-Year Dividend growth (3y) Range
Min: -100   Max: 34.6
Current: -100

-100
34.6
Yield on cost (5-Year) 5.18
IBM's Yield on cost (5-Year) is ranked higher than
86% of the 1083 Companies
in the Global Information Technology Services industry.

( Industry Median: 1.79 vs. IBM: 5.18 )
IBM' s 10-Year Yield on cost (5-Year) Range
Min: 1.27   Max: 5.25
Current: 5.18

1.27
5.25
Share Buyback Rate 100.00
IBM's Share Buyback Rate is ranked higher than
97% of the 1445 Companies
in the Global Information Technology Services industry.

( Industry Median: -1.30 vs. IBM: 100.00 )
IBM' s 10-Year Share Buyback Rate Range
Min: 100   Max: -11.3
Current: 100

Valuation & Return

vs
industry
vs
history
Earnings Yield (Greenblatt) 9.30
IBM's Earnings Yield (Greenblatt) is ranked higher than
87% of the 2051 Companies
in the Global Information Technology Services industry.

( Industry Median: 3.70 vs. IBM: 9.30 )
IBM' s 10-Year Earnings Yield (Greenblatt) Range
Min: 5.4   Max: 12.7
Current: 9.3

5.4
12.7
Forward Rate of Return (Yacktman) 10.17
IBM's Forward Rate of Return (Yacktman) is ranked higher than
71% of the 1055 Companies
in the Global Information Technology Services industry.

( Industry Median: 13.27 vs. IBM: 10.17 )
IBM' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -4.7   Max: 23.6
Current: 10.17

-4.7
23.6

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 consistently strong returns on equity. The Company has global presence, operating in
» More Articles for IBM

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