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IBM
International Business Machines CorporationStock · Technology
$289.52+$3.27 (+1.14%)as of market close, Jul 2, 2026
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How International Business Machines makes money

Fiscal year

How does International Business Machines make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

International Business Machines Corporation · FY2025 · year ended 2025-12-31
Revenue$67.5BGross profit$39.3B · 58%Cost of revenue$28.2B · 42%Operating income$10.9B · 16%Operating expenses$28.4B · 42%R&D$8.3B · 12%SG&A$20.1B · 30%Net income$10.6B · 16%Product$36.1B · 53%Technology Service$30.7B · 45%Financial Service$737M · 1%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.