International Business Machines (XTER:IBM) Research & Development: €7,339 Mil (TTM As of Mar. 2026)


XTER:IBM International Business Machines Corp XTER:IBM
69 GF Score
Price €232.50
GF Value €209.60
Valuation Modestly Overvalued
! 1 Warning Sign
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What is International Business Machines Research & Development?

International Business Machines XTER:IBM +8.04% 69 Research & Development is €7,339 Mil as of Mar. 2026. GuruFocus rates XTER:IBM with a GF Score™ of 69/100 and a GF Value™ of €209.60 (Modestly Overvalued). The stock has 1 warning sign investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. International Business Machines's Research & Development for the three months ended in Mar. 2026 was €1,880 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was €7,339 Mil.

International Business Machines  (XTER:IBM) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

International Business Machines Research & Development Related Terms

International Business Machines Research & Development Historical Data

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The historical data trend for International Business Machines's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

International Business Machines Research & Development Chart

International Business Machines Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5,741.88 6,199.25 6,212.68 7,142.45 7,101.86

International Business Machines Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,803.75 1,818.10 1,773.86 1,867.70 1,879.65
XTER:IBM
69GF Score
International Business Machines Corp XTER:IBM
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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International Business Machines Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €7,339 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of €7,339 Mil mean?
International Business Machines (XTER:IBM) has a Research & Development of €7,339 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on International Business Machines and its competitors.
Is International Business Machines' Research & Development too high?
International Business Machines' current Research & Development is €7,339 Mil. Overall, International Business Machines has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does International Business Machines' Research & Development compare to ACN and FISV?
International Business Machines' Research & Development of €7,339 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Software company?
A good Research & Development depends on the Software industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on International Business Machines and its competitors. International Business Machines's current Research & Development is €7,339 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Business Machines stock overvalued right now?
Based on GuruFocus' analysis, International Business Machines (XTER:IBM) is currently considered Modestly Overvalued. The stock's GF Value™ is €209.60, compared to a current price of €232.50 — trading 10.9% above its estimated fair value. The current Research & Development is €7,339 Mil. International Business Machines' overall GF Score™ is 69/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For International Business Machines (XTER:IBM), the current Research & Development is €7,339 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is International Business Machines (XTER:IBM) Overvalued in 2026?

Based on GuruFocus' analysis, International Business Machines stock appears to be overvalued. The current stock price of €232.50 is trading 10.9% above its estimated GF Value™ of €209.60. GuruFocus considers International Business Machines to be Modestly Overvalued.

Key valuation signals for XTER:IBM:

  • Research & Development: €7,339 Mil
  • GF Value™: €209.60 vs. price of €232.50 (10.9% above fair value)
  • GF Score™: 69/100 with 1 warning sign

No single metric tells the full story. See the XTER:IBM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

International Business Machines Business Description

Address One New Orchard Road, Armonk, NY, USA, 10504
Incorporated in 1911, International Business Machines, or IBM, is one of the oldest technology companies in the world. It provides software, IT consulting services, and hardware to help business customers modernize their technology workflows. IBM operates in 175 countries and employs approximately 300,000 people. The company has a robust roster of business partners to service its clients, which includes 95% of all Fortune 500 companies. IBM's products, including Red Hat, watsonx, and mainframes, handle some of the world's most important data workloads in areas like finance and retail.
69GF Score

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Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€232.50
Price
€209.60
GF Value