International Business Machines annual free cash flow
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2025
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 | — | — | +12.77% |
| Q3 2009 | 2009-09-30 | $5.04B | $1.48B | +41.44% | +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 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.
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