IBM
International Business Machines Corporation
IBM
231.38USD
-0.24%
Sep 23, 2026
Price
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Price Action
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryConstructive
Structure is constructive on both timeframes without excessive extension — a reasonable entry location.
Key Financials
- Market Cap
- $218.0B
- Avg Volume (60D)
- 6.4M
- Revenue Growth YoY
- +7.6%
- Gross Margin
- +58.1%
- Operating Margin
- +20.9%
- Free Cash Flow Yield
- +6.3%
- Distance from 200DMA
- -9.6%
- Next Earnings
- 2026-10-21
- P/E
- 20.3x
- EV / Sales
- 3.9x
60 sessions
FY2025 vs FY2024
Trailing twelve months
Trailing twelve months
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026
Fundamentals & Valuation
All three valuation perspectives agree this company is fair.
International Business Machines Corporation has a Fair valuation stance because the price broadly reflects the cash the business actually produces, with upside and risk reasonably balanced.
Company Research
Thesis
IBM is an enterprise-AI platform and services enabler rather than a pure-play AI infrastructure vendor.
Opportunity
Moderate opportunity
Enterprise spending to move generative and agentic AI from pilots into governed production workflows, requiring interoperable orchestration, enterprise-data integration, security controls, model governance and deployment across hybrid environments.
Key risk
High net debt levels.
Narrative & Theme
Enterprise AI Adoption and Workflow Automation
Part of Enterprise AI Orchestration, Governance and Hybrid Deployment, with moderate fit.
IBM has real and increasingly commercial exposure to enterprise AI implementation, but the stock is a diversified mega-cap whose results also depend on mature software, infrastructure and consulting businesses.
Narrative HeatHeating up7.9 / 10
Theme HeatHeating up7.8 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.
Business & Markets
Technology · Information Technology Services
What they do
International Business Machines Corporation provides integrated technology solutions and services globally through its Software, Consulting, Infrastructure, and Financing segments.
How it earns
Revenue is generated through a mix of subscription-based software platforms, project-based consulting services, infrastructure sales, and financing arrangements.
Products & services
Hybrid cloud and AI software platforms
Technology consulting services
Infrastructure hardware and services
Financing solutions
Customers & end markets
Large enterprises
Government agencies
Market position
IBM is a leader in enterprise IT services and hybrid cloud software with a broad global presence.
Demand drivers
Medium cyclicality
Business depends on corporate IT spending which can fluctuate with economic cycles but also has recurring revenue components.
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