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IBM Valuation Multiples

Discover revenue and EBITDA valuation multiples for IBM and similar public comparables like Atturra, Ctac, and Bravura Solutions.

IBM Overview

About IBM

IBM looks to be a part of every aspect of an enterprise's IT needs. The company primarily sells software, IT services, consulting, and hardware. 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 include 95% of all Fortune 500 companies. Primary products include its mainframes, Red Hat software, transaction processing software, and IT consulting.


Founded

1911

HQ

United States of America
Employees

293.4K+

Website

ibm.com

Financials

LTM Revenue $64.2B

LTM EBITDA $16.5B

EV

$290B

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Valuation Multiples for 10K+ Public Comps

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IBM Financials

IBM has a last 12-month revenue of $64.2B and a last 12-month EBITDA of $16.5B.

In the most recent fiscal year, IBM achieved revenue of $62.8B and an EBITDA of $12.2B.

IBM expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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IBM P&L

LTM NTM FY 2025 FY 2026 FY 2027
Revenue $64.2B XXX XXX XXX XXX
Gross Profit $37.3B XXX XXX XXX XXX
Gross Margin 58% XXX XXX XXX XXX
EBITDA $16.5B XXX XXX XXX XXX
EBITDA Margin 26% XXX XXX XXX XXX
EBIT $12.0B XXX XXX XXX XXX
EBIT Margin 19% XXX XXX XXX XXX
Net Profit $10.0B XXX XXX XXX XXX
Net Margin 16% XXX XXX XXX XXX
Net Debt $41.0B XXX XXX XXX XXX

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IBM Stock Performance

As of May 30, 2025, IBM's stock price is $259.

IBM has current market cap of $240B, and EV of $290B.

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IBM Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$290B $240B XXX XXX XXX XXX $10.58

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IBM Valuation Multiples

As of May 30, 2025, IBM has market cap of $240B and EV of $290B.

IBM's trades at 4.5x EV/LTM Revenue multiple, and 17.5x EV/LTM EBITDA.

Equity research analysts estimate IBM's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

IBM has a P/E ratio of 24.1x.

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IBM Financial Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Market cap (current) $240B XXX XXX XXX XXX
EV (current) $290B XXX XXX XXX XXX
EV/Revenue 4.5x XXX XXX XXX XXX
EV/EBITDA 17.5x XXX XXX XXX XXX
EV/EBIT 24.1x XXX XXX XXX XXX
EV/Gross Profit 7.8x XXX XXX XXX XXX
P/E 24.1x XXX XXX XXX XXX
EV/FCF 22.1x XXX XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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IBM Margins & Growth Rates

IBM's last 12 month revenue growth is 5%

IBM's revenue per employee for the last 12 months averaged $0.2M, while opex per employee averaged $0.1M for the same period.

IBM's rule of 40 is 29% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

IBM's rule of X is 38% (another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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IBM Operational Valuation Multiples

LTM NTM FY 2025 FY 2026 FY 2027
Revenue Growth 5% XXX XXX XXX XXX
EBITDA Margin 26% XXX XXX XXX XXX
EBITDA Growth 8% XXX XXX XXX XXX
Rule of 40 29% XXX XXX XXX XXX
Bessemer Rule of X 38% XXX XXX XXX XXX
Revenue per Employee $0.2M XXX XXX XXX XXX
Opex per Employee $0.1M XXX XXX XXX XXX
S&M Expenses to Revenue 2% XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 12% XXX XXX XXX XXX
Opex to Revenue 41% XXX XXX XXX XXX

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Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

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IBM Public Comps

See public comps and valuation multiples for IT Consulting and Cloud Infrastructure comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
Ctac XXX XXX XXX XXX XXX XXX
Mastech Digital XXX XXX XXX XXX XXX XXX
Atturra XXX XXX XXX XXX XXX XXX
Bravura Solutions XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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IBM M&A and Investment Activity

IBM acquired  XXX companies to date.

Last acquisition by IBM was  XXXXXXXX, XXXXX XXXXX XXXXXX . IBM acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by IBM

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About IBM

When was IBM founded? IBM was founded in 1911.
Where is IBM headquartered? IBM is headquartered in United States of America.
How many employees does IBM have? As of today, IBM has 293.4K+ employees.
Who is the CEO of IBM? IBM's CEO is Mr. Arvind Krishna.
Is IBM publicy listed? Yes, IBM is a public company listed on NYS.
What is the stock symbol of IBM? IBM trades under IBM ticker.
When did IBM go public? IBM went public in 1949.
Who are competitors of IBM? Similar companies to IBM include e.g. , Ctac, Mastech Digital, Atturra.
What is the current market cap of IBM? IBM's current market cap is $240B
What is the current revenue of IBM? IBM's last 12 months revenue is $64.2B.
What is the current revenue growth of IBM? IBM revenue growth (NTM/LTM) is 5%.
What is the current EV/Revenue multiple of IBM? Current revenue multiple of IBM is 4.5x.
Is IBM profitable? Yes, IBM is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of IBM? IBM's last 12 months EBITDA is $16.5B.
What is IBM's EBITDA margin? IBM's last 12 months EBITDA margin is 26%.
What is the current EV/EBITDA multiple of IBM? Current EBITDA multiple of IBM is 17.5x.
What is the current FCF of IBM? IBM's last 12 months FCF is $13.1B.
What is IBM's FCF margin? IBM's last 12 months FCF margin is 20%.
What is the current EV/FCF multiple of IBM? Current FCF multiple of IBM is 22.1x.

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