International Business Machines annual free cash flow
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International Business Machines Free Cash Flow (FCF) History (IBM)
International Business Machines reported $12.10B in free cash flow for fiscal 2025, a decrease of 2.38% from the previous fiscal year, with a free cash flow margin of 17.92%.
View full International Business Machines company overviewInternational Business Machines free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $12.10B | −$295.0M | −2.38% | +17.92% |
| 2024 | 2024-12-31 | $12.40B | −$289.0M | −2.28% | +19.76% |
| 2023 | 2023-12-31 | $12.69B | $3.60B | +39.58% | +20.51% |
| 2022 | 2022-12-31 | $9.09B | −$1.65B | −15.33% | +15.02% |
| 2021 | 2021-12-31 | $10.73B | −$4.84B | −31.10% | +18.72% |
| 2020 | 2020-12-31 | $15.58B | $3.10B | +24.79% | +28.23% |
| 2019 | 2019-12-31 | $12.48B | $632.0M | +5.33% | +21.63% |
| 2018 | 2018-12-31 | $11.85B | −$1.64B | −12.17% | +14.89% |
| 2017 | 2017-12-31 | $13.49B | −$22.0M | −0.16% | +17.05% |
| 2016 | 2016-12-31 | $13.52B | −$159.0M | −1.16% | +16.91% |
| 2015 | 2015-12-31 | $13.68B | $548.0M | +4.17% | +16.73% |
| 2014 | 2014-12-31 | $13.13B | −$734.0M | −5.30% | +14.15% |
| 2013 | 2013-12-31 | $13.86B | −$1.64B | −10.59% | +14.09% |
| 2012 | 2012-12-31 | $15.50B | −$234.0M | −1.49% | +15.07% |
| 2011 | 2011-12-31 | $15.74B | $374.0M | +2.43% | +14.72% |
| 2010 | 2010-12-31 | $15.36B | −$1.96B | −11.32% | +15.38% |
| 2009 | 2009-12-31 | $17.33B | $2.69B | +18.34% | +18.09% |
| 2008 | 2008-12-31 | $14.64B | $3.18B | +27.71% | +14.13% |
| 2007 | 2007-12-31 | $11.46B | — | — | +11.60% |
International Business Machines quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $2.37B | $877.0M | +58.82% | +13.80% |
| Q1 2026 | 2026-03-31 | $4.94B | $811.0M | +19.66% | +31.02% |
| Q4 2025 | 2025-12-31 | $3.66B | −$369.0M | −9.16% | +18.58% |
| Q3 2025 | 2025-09-30 | $2.83B | $232.0M | +8.94% | +17.31% |
| Q2 2025 | 2025-06-30 | $1.49B | −$355.0M | −19.23% | +8.78% |
| Q1 2025 | 2025-03-31 | $4.13B | $197.0M | +5.01% | +28.37% |
| Q4 2024 | 2024-12-31 | $4.03B | −$136.0M | −3.27% | +22.94% |
| Q3 2024 | 2024-09-30 | $2.60B | −$180.0M | −6.49% | +17.34% |
| Q2 2024 | 2024-06-30 | $1.85B | −$428.0M | −18.82% | +11.71% |
| Q1 2024 | 2024-03-31 | $3.93B | $455.0M | +13.10% | +27.17% |
| Q4 2023 | 2023-12-31 | $4.16B | $607.0M | +17.07% | +23.95% |
| Q3 2023 | 2023-09-30 | $2.77B | $1.19B | +75.19% | +18.81% |
| Q2 2023 | 2023-06-30 | $2.27B | $1.29B | +131.57% | +14.69% |
| Q1 2023 | 2023-03-31 | $3.47B | $507.0M | +17.09% | +24.38% |
| Q4 2022 | 2022-12-31 | $3.56B | $1.46B | +69.82% | +21.30% |
| Q3 2022 | 2022-09-30 | $1.58B | −$571.0M | −26.50% | +11.23% |
| Q2 2022 | 2022-06-30 | $982.0M | −$1.08B | −52.45% | +6.32% |
| Q1 2022 | 2022-03-31 | $2.97B | −$1.45B | −32.87% | +20.90% |
| Q4 2021 | 2021-12-31 | $2.09B | −$3.09B | −59.59% | +12.54% |
| Q3 2021 | 2021-09-30 | $2.15B | −$1.41B | −39.47% | +16.26% |
| Q2 2021 | 2021-06-30 | $2.06B | −$926.0M | −30.96% | +14.52% |
| Q1 2021 | 2021-03-31 | $4.42B | $574.0M | +14.92% | +33.52% |
| Q4 2020 | 2020-12-31 | $5.18B | $2.31B | +80.24% | +269.19% |
| Q3 2020 | 2020-09-30 | $3.56B | $529.0M | +17.45% | +20.27% |
| Q2 2020 | 2020-06-30 | $2.99B | $633.0M | +26.84% | +16.50% |
| Q1 2020 | 2020-03-31 | $3.85B | −$374.0M | −8.86% | +21.89% |
| Q4 2019 | 2019-12-31 | $2.88B | −$462.0M | −13.84% | +122.71% |
| Q3 2019 | 2019-09-30 | $3.03B | −$389.0M | −11.37% | +16.81% |
| Q2 2019 | 2019-06-30 | $2.36B | $995.0M | +73.00% | +12.31% |
| Q1 2019 | 2019-03-31 | $4.22B | $488.0M | +13.08% | +23.21% |
| Q4 2018 | 2018-12-31 | $3.34B | −$1.44B | −30.14% | +15.34% |
| Q3 2018 | 2018-09-30 | $3.42B | $698.0M | +25.64% | +18.23% |
| Q2 2018 | 2018-06-30 | $1.36B | −$1.42B | −50.99% | +6.81% |
| Q1 2018 | 2018-03-31 | $3.73B | $517.0M | +16.08% | +19.57% |
| Q4 2017 | 2017-12-31 | $4.78B | $1.77B | +58.92% | +21.19% |
| Q3 2017 | 2017-09-30 | $2.72B | −$627.0M | −18.72% | +14.21% |
| Q2 2017 | 2017-06-30 | $2.78B | $193.0M | +7.46% | +14.42% |
| Q1 2017 | 2017-03-31 | $3.21B | −$1.36B | −29.71% | +17.71% |
| Q4 2016 | 2016-12-31 | $3.01B | −$1.61B | −34.89% | +13.81% |
| Q3 2016 | 2016-09-30 | $3.35B | $62.0M | +1.89% | +17.42% |
| Q2 2016 | 2016-06-30 | $2.59B | −$431.0M | −14.28% | +12.79% |
| Q1 2016 | 2016-03-31 | $4.57B | $1.82B | +66.15% | +24.48% |
| Q4 2015 | 2015-12-31 | $4.62B | −$495.0M | −9.68% | +20.93% |
| Q3 2015 | 2015-09-30 | $3.29B | $419.0M | +14.61% | +17.05% |
| Q2 2015 | 2015-06-30 | $3.02B | $348.0M | +13.03% | +14.51% |
| Q1 2015 | 2015-03-31 | $2.75B | $276.0M | +11.14% | +14.05% |
| Q4 2014 | 2014-12-31 | $5.11B | −$352.0M | −6.44% | +21.20% |
| Q3 2014 | 2014-09-30 | $2.87B | $93.0M | +3.35% | +12.81% |
| Q2 2014 | 2014-06-30 | $2.67B | $357.0M | +15.43% | +11.11% |
| Q1 2014 | 2014-03-31 | $2.48B | −$832.0M | −25.14% | +11.14% |
| Q4 2013 | 2013-12-31 | $5.46B | $118.0M | +2.21% | +20.47% |
| Q3 2013 | 2013-09-30 | $2.77B | −$792.0M | −22.20% | +11.89% |
| Q2 2013 | 2013-06-30 | $2.31B | −$923.0M | −28.51% | +9.28% |
| Q1 2013 | 2013-03-31 | $3.31B | −$45.0M | −1.34% | +14.14% |
| Q4 2012 | 2012-12-31 | $5.35B | −$702.0M | −11.61% | +19.32% |
| Q3 2012 | 2012-09-30 | $3.57B | −$113.0M | −3.07% | +14.41% |
| Q2 2012 | 2012-06-30 | $3.24B | $17.0M | +0.53% | +12.55% |
| Q1 2012 | 2012-03-31 | $3.35B | $564.0M | +20.22% | +13.59% |
| Q4 2011 | 2011-12-31 | $6.05B | $405.0M | +7.18% | +20.51% |
| Q3 2011 | 2011-09-30 | $3.68B | $576.0M | +18.56% | +14.07% |
| Q2 2011 | 2011-06-30 | $3.22B | $282.0M | +9.60% | +12.08% |
| Q1 2011 | 2011-03-31 | $2.79B | −$889.0M | −24.16% | +11.34% |
| Q4 2010 | 2010-12-31 | $5.64B | $2.17B | +62.30% | +19.45% |
| Q3 2010 | 2010-09-30 | $3.10B | −$1.94B | −38.42% | +12.79% |
| Q2 2010 | 2010-06-30 | $2.94B | −$1.65B | −35.89% | +12.38% |
| Q1 2010 | 2010-03-31 | $3.68B | −$546.0M | −12.92% | +16.10% |
| Q4 2009 | 2009-12-31 | $3.48B | −$87.0M | −2.44% | +12.77% |
| Q3 2009 | 2009-09-30 | $5.04B | — | — | +21.39% |
| Q2 2009 | 2009-06-30 | $4.58B | — | — | +19.71% |
| Q1 2009 | 2009-03-31 | $4.22B | — | — | +19.46% |
| Q3 2008 | 2008-09-30 | $3.56B | — | — | +14.09% |
International Business Machines free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $15.58B to $12.10B, a compound annual decline of 4.93%. International Business Machines's latest reported quarter, Q2 2026, generated $2.37B in free cash flow, an increase of 58.82% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review International Business Machines filings at SEC.gov ↗