IBM · International Business Machines Corporation
Quantum Computing — superconducting (full-stack), embedded in IT Services/Software/Infrastructure
IBM·Quantum Computing — superconducting (full-stack), embedded in IT Services/Software/Infrastructure
IB

International Business Machines Corporation

ConvictionModerate

Diversified enterprise IT: hybrid-cloud software (Red Hat, watsonx, Confluent) + global consulting + mainframe/infrastructure, with quantum-as-a-service (IBM Quantum Network, pay-per-use cloud access) as an emerging R&D-funded moonshot bundled inside Software/Infrastructure

Revenue
$62.8B FY25$15.9B Q1 FY26 (+9% reported, +6% cc
Rev growth
+1% FY25 reported+9% Q1 FY26 reported (+6% cc
Gross margin
58.2% GAAP FY2556.2% GAAP / 57.7% operating Q1 FY26
Op margin
13.4% operatingnon-GAAP) pre-tax margin Q1 FY26; 8.7% GAAP pre-tax
Capex intensity
low/asset-light~2-3% of revenue; software/services-weighted
Market cap
~$255BJun 2026

Price · 1-year trend

real · weekly
$272-6% 1yUSD
52-week range
$219 – $309
52w lowas of 2026-06-28 · Yahoo Finance52w high
The read

Where our coverage leans

Coverage leans bullish

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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

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  • SWOT, moats & dependency map
  • Supplier–customer ecosystem graph
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Not investment advice — analyst work product for a qualified professional.· intel vintage Q2 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence
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