International Business Machines annual return on equity
2008
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2021
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2023
2024
2025
International Business Machines Return on Equity (ROE) Growth & History (IBM)
International Business Machines's return on equity was 35.34% for fiscal 2025.
View full International Business Machines company overviewInternational Business Machines annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 35.34% | +11.17 pp |
| 2024 | 2024-12-31 | 24.17% | −9.56 pp |
| 2023 | 2023-12-31 | 33.73% | +25.71 pp |
| 2022 | 2022-12-31 | 8.03% | −21.05 pp |
| 2021 | 2021-12-31 | 29.08% | +2.10 pp |
| 2020 | 2020-12-31 | 26.98% | −23.14 pp |
| 2019 | 2019-12-31 | 50.12% | −0.64 pp |
| 2018 | 2018-12-31 | 50.76% | +18.66 pp |
| 2017 | 2017-12-31 | 32.10% | −40.94 pp |
| 2016 | 2016-12-31 | 73.04% | −27.92 pp |
| 2015 | 2015-12-31 | 100.96% | +31.59 pp |
| 2014 | 2014-12-31 | 69.37% | −9.78 pp |
| 2013 | 2013-12-31 | 79.15% | −6.01 pp |
| 2012 | 2012-12-31 | 85.15% | +11.72 pp |
| 2011 | 2011-12-31 | 73.43% | +8.49 pp |
| 2010 | 2010-12-31 | 64.94% | −9.43 pp |
| 2009 | 2009-12-31 | 74.37% | +15.75 pp |
| 2008 | 2008-12-31 | 58.62% | — |
International Business Machines quarterly return on equity
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| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 6.42% | −1.65 pp |
| Q1 2026 | 2026-03-31 | 3.71% | −0.19 pp |
| Q4 2025 | 2025-12-31 | 18.50% | +7.24 pp |
| Q3 2025 | 2025-09-30 | 6.29% | +7.66 pp |
| Q2 2025 | 2025-06-30 | 8.07% | +0.31 pp |
| Q1 2025 | 2025-03-31 | 3.89% | −3.12 pp |
| Q4 2024 | 2024-12-31 | 11.26% | −3.16 pp |
| Q3 2024 | 2024-09-30 | −1.36% | −8.89 pp |
| Q2 2024 | 2024-06-30 | 7.76% | +0.53 pp |
| Q1 2024 | 2024-03-31 | 7.01% | +2.75 pp |
| Q4 2023 | 2023-12-31 | 14.42% | +1.52 pp |
| Q3 2023 | 2023-09-30 | 7.53% | +23.71 pp |
| Q2 2023 | 2023-06-30 | 7.23% | −0.01 pp |
| Q1 2023 | 2023-03-31 | 4.26% | +0.39 pp |
| Q4 2022 | 2022-12-31 | 12.90% | +1.55 pp |
| Q3 2022 | 2022-09-30 | −16.19% | −21.31 pp |
| Q2 2022 | 2022-06-30 | 7.24% | +1.12 pp |
| Q1 2022 | 2022-03-31 | 3.86% | −0.69 pp |
| Q4 2021 | 2021-12-31 | 11.34% | +4.86 pp |
| Q3 2021 | 2021-09-30 | 5.12% | −3.02 pp |
| Q2 2021 | 2021-06-30 | 6.12% | −0.60 pp |
| Q1 2021 | 2021-03-31 | 4.55% | −1.21 pp |
| Q4 2020 | 2020-12-31 | 6.49% | −12.43 pp |
| Q3 2020 | 2020-09-30 | 8.13% | −1.26 pp |
| Q2 2020 | 2020-06-30 | 6.71% | −7.93 pp |
| Q1 2020 | 2020-03-31 | 5.75% | −3.81 pp |
| Q4 2019 | 2019-12-31 | 18.92% | +8.25 pp |
| Q3 2019 | 2019-09-30 | 9.39% | −4.67 pp |
| Q2 2019 | 2019-06-30 | 14.64% | +1.53 pp |
| Q1 2019 | 2019-03-31 | 9.56% | +0.17 pp |
| Q4 2018 | 2018-12-31 | 10.67% | +16.33 pp |
| Q3 2018 | 2018-09-30 | 14.07% | −0.26 pp |
| Q2 2018 | 2018-06-30 | 13.11% | +0.42 pp |
| Q1 2018 | 2018-03-31 | 9.39% | −0.18 pp |
| Q4 2017 | 2017-12-31 | −5.66% | −31.20 pp |
| Q3 2017 | 2017-09-30 | 14.33% | −3.10 pp |
| Q2 2017 | 2017-06-30 | 12.69% | −3.65 pp |
| Q1 2017 | 2017-03-31 | 9.57% | −4.23 pp |
| Q4 2016 | 2016-12-31 | 25.53% | −6.86 pp |
| Q3 2016 | 2016-09-30 | 17.43% | −4.44 pp |
| Q2 2016 | 2016-06-30 | 16.34% | −10.38 pp |
| Q1 2016 | 2016-03-31 | 13.80% | −5.59 pp |
| Q4 2015 | 2015-12-31 | 32.39% | −9.59 pp |
| Q3 2015 | 2015-09-30 | 21.87% | +21.76 pp |
| Q2 2015 | 2015-06-30 | 26.71% | +2.36 pp |
| Q1 2015 | 2015-03-31 | 19.39% | +7.29 pp |
| Q4 2014 | 2014-12-31 | 41.98% | +12.99 pp |
| Q3 2014 | 2014-09-30 | 0.11% | −21.36 pp |
| Q2 2014 | 2014-06-30 | 24.35% | +6.84 pp |
| Q1 2014 | 2014-03-31 | 12.10% | −3.88 pp |
| Q4 2013 | 2013-12-31 | 28.99% | +0.11 pp |
| Q3 2013 | 2013-09-30 | 21.48% | +3.27 pp |
| Q2 2013 | 2013-06-30 | 17.51% | −1.34 pp |
| Q1 2013 | 2013-03-31 | 15.98% | +0.96 pp |
| Q4 2012 | 2012-12-31 | 28.88% | +3.00 pp |
| Q3 2012 | 2012-09-30 | 18.20% | +1.30 pp |
| Q2 2012 | 2012-06-30 | 18.85% | +2.85 pp |
| Q1 2012 | 2012-03-31 | 15.02% | +2.49 pp |
| Q4 2011 | 2011-12-31 | 25.87% | +2.66 pp |
| Q3 2011 | 2011-09-30 | 16.91% | +0.33 pp |
| Q2 2011 | 2011-06-30 | 16.00% | +0.29 pp |
| Q1 2011 | 2011-03-31 | 12.52% | +0.88 pp |
| Q4 2010 | 2010-12-31 | 23.22% | −0.24 pp |
| Q3 2010 | 2010-09-30 | 16.58% | −2.45 pp |
| Q2 2010 | 2010-06-30 | 15.72% | −5.80 pp |
| Q1 2010 | 2010-03-31 | 11.65% | — |
| Q4 2009 | 2009-12-31 | 23.46% | — |
| Q3 2009 | 2009-09-30 | 19.03% | — |
| Q2 2009 | 2009-06-30 | 21.51% | — |
International Business Machines return on equity trends
Over the last five fiscal years, International Business Machines's return on equity increased from 26.98% to 35.34%, a change of +8.36 percentage points. The latest reported quarter, Q2 2026, shows 6.42%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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