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IBM Valuation Multiples
Discover revenue and EBITDA valuation multiples for IBM and similar public comparables like KLA, Foxconn Industrial Internet, Hitachi, Cisco and more.
IBM Overview
About IBM
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.
Founded
1911
HQ
Employees
286.8K
Website
Sectors
Financials (LTM)
EV
$274B
IBM Financials
IBM reported last 12-month revenue of $68B and EBITDA of $19B.
In the same LTM period, IBM generated $41B in gross profit, $19B in EBITDA, and $11B in net income.
Revenue (LTM)
IBM P&L
In the most recent fiscal year, IBM reported revenue of $68B and EBITDA of $19B.
IBM expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $68B | XXX | $68B | XXX | XXX | XXX |
| Gross Profit | $41B | XXX | $39B | XXX | XXX | XXX |
| Gross Margin | 59% | XXX | 58% | XXX | XXX | XXX |
| EBITDA | $19B | XXX | $19B | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 28% | XXX | XXX | XXX |
| EBIT Margin | 21% | XXX | 20% | XXX | XXX | XXX |
| Net Profit | $11B | XXX | $11B | XXX | XXX | XXX |
| Net Margin | 16% | XXX | 16% | XXX | XXX | XXX |
| Net Debt | — | — | $48B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
IBM Stock Performance
IBM has current market cap of $224B, and enterprise value of $274B.
Market Cap Evolution
IBM's stock price is $239.37.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $274B | $224B | 0.0% | XXX | XXX | XXX | $11.76 |
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Start Free TrialIBM Valuation Multiples
IBM trades at 4.0x EV/Revenue multiple, and 14.5x EV/EBITDA.
EV / Revenue (LTM)
IBM Financial Valuation Multiples
As of April 1, 2026, IBM has market cap of $224B and EV of $274B.
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 20.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $224B | XXX | $224B | XXX | XXX | XXX |
| EV (current) | $274B | XXX | $274B | XXX | XXX | XXX |
| EV/Revenue | 4.0x | XXX | 4.1x | XXX | XXX | XXX |
| EV/EBITDA | 14.5x | XXX | 14.7x | XXX | XXX | XXX |
| EV/EBIT | 19.5x | XXX | 19.8x | XXX | XXX | XXX |
| EV/Gross Profit | 6.8x | XXX | 7.0x | XXX | XXX | XXX |
| P/E | 20.0x | XXX | 20.4x | XXX | XXX | XXX |
| EV/FCF | 18.3x | XXX | 18.6x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified IBM Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
IBM Margins & Growth Rates
IBM's revenue in the last 12 month grew by 5%.
IBM's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.
IBM's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
IBM's rule of X is 41% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
IBM Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | 5% | XXX | XXX | XXX |
| EBITDA Margin | 28% | XXX | 28% | XXX | XXX | XXX |
| EBITDA Growth | 7% | XXX | 7% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 33% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 41% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 25% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 12% | XXX | 12% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 40% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
IBM Public Comps
See public comps and valuation multiples for other IT Consulting and Cloud Infrastructure comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| KLA | XXX | XXX | XXX | XXX | XXX | XXX |
| Foxconn Industrial Internet | XXX | XXX | XXX | XXX | XXX | XXX |
| Hitachi | XXX | XXX | XXX | XXX | XXX | XXX |
| Cisco | XXX | XXX | XXX | XXX | XXX | XXX |
| Accenture | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
IBM M&A Activity
IBM acquired XXX companies to date.
Last acquisition by IBM was on XXXXXXXX, XXXXX. IBM acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by IBM
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialIBM Investment Activity
IBM invested in XXX companies to date.
IBM made its latest investment on XXXXXXXX, XXXXX. IBM invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by IBM
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout IBM
| When was IBM founded? | IBM was founded in 1911. |
| Where is IBM headquartered? | IBM is headquartered in United States. |
| How many employees does IBM have? | As of today, IBM has over 286K employees. |
| Who is the CEO of IBM? | IBM's CEO is Arvind Krishna. |
| Is IBM publicly listed? | Yes, IBM is a public company listed on NYSE. |
| 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? | IBM main competitors are KLA, Foxconn Industrial Internet, Hitachi, Cisco. |
| What is the current market cap of IBM? | IBM's current market cap is $224B. |
| What is the current revenue of IBM? | IBM's last 12 months revenue is $68B. |
| 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 4.0x. |
| 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 $19B. |
| What is IBM's EBITDA margin? | IBM's last 12 months EBITDA margin is 28%. |
| What is the current EV/EBITDA multiple of IBM? | Current EBITDA multiple of IBM is 14.5x. |
| What is the current FCF of IBM? | IBM's last 12 months FCF is $15B. |
| What is IBM's FCF margin? | IBM's last 12 months FCF margin is 22%. |
| What is the current EV/FCF multiple of IBM? | Current FCF multiple of IBM is 18.3x. |
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