Company Valuation: IBM

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 119,866 127,382 149,341 203,265 276,878 220,573 - -
Change - 6.27% 17.24% 36.11% 36.22% -20.34% - -
Enterprise Value (EV) 1 164,013 169,490 192,426 243,433 323,667 263,885 254,137 249,013
Change - 3.34% 13.53% 26.51% 32.96% -18.47% -3.69% -2.02%
P/E 21x 78.3x 20.1x 34.2x 26.5x 22.9x 20.7x 18.4x
PBR 6.34x 5.8x 6.64x 7.46x 8.5x 5.68x 4.9x 4.22x
PEG - -1.1x 0x -1.6x 0.4x -2.51x 2x 1.5x
Capitalization / Revenue 2.09x 2.1x 2.41x 3.24x 4.1x 3.13x 3.02x 2.87x
EV / Revenue 2.86x 2.8x 3.11x 3.88x 4.79x 3.75x 3.48x 3.24x
EV / EBITDA - 11.5x 12.5x 14.8x 16.9x 13.1x 11.9x 10.9x
EV / EBIT - 17.1x 17.4x 21.6x 22.9x 17.6x 15.9x 14.1x
EV / FCF 25.2x 18.2x 17.2x 19.1x 22x 17x 14.9x 13.7x
FCF Yield 3.97% 5.48% 5.83% 5.24% 4.55% 5.88% 6.73% 7.28%
Dividend per Share 2 6.55 6.52 6.63 6.67 6.71 6.766 6.813 6.949
Rate of return 4.9% 4.63% 4.05% 3.03% 2.27% 2.91% 2.93% 2.99%
EPS 2 6.35 1.8 8.14 6.43 11.17 10.15 11.22 12.63
Distribution rate 103% 362% 81.4% 104% 60.1% 66.7% 60.7% 55%
Net sales 1 57,350 60,530 61,860 62,753 67,535 70,385 73,102 76,907
EBITDA 1 - 14,739 15,447 16,400 19,200 20,133 21,391 22,787
EBIT 1 - 9,937 11,052 11,263 14,126 14,967 15,987 17,612
Net income 1 5,743 1,639 7,502 6,023 10,593 9,829 11,245 12,416
Net Debt 1 44,147 42,108 43,085 40,168 46,789 43,313 33,564 28,440
Reference price 2 133.66 140.89 163.55 219.83 296.21 232.14 232.14 232.14
Nbr of stocks (in thousands) 896,800 904,126 913,119 924,645 934,735 942,134 - -
Announcement Date 24/01/22 25/01/23 24/01/24 29/01/25 28/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.06x3.75x13.11x2.89% 221B
23.61x4.94x12.13x0.7% 203B
16.71x1.82x9.55x2.87% 134B
-131.82x18.31x100.66x-.--% 118B
-545.69x38.77x159.28x-.--% 113B
15.32x2.75x10.63x5.25% 89.77B
22.39x5.81x14.26x2.53% 66.53B
14.52x2.11x8.97x5.37% 47.47B
23.98x1.99x12.61x1.3% 47.01B
Average -59.77x 8.92x 37.91x 2.32% 115.47B
Weighted average by Cap. -57.96x 9.07x 37.90x 2.04%

Y-o-Y evolution of P/E

Valuation ratios - P/E - IBM

Historical PBR trend

Valuation ratios - PBR - IBM

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - IBM

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - IBM


Year-on-year evolution of the Yield

Valuation ratios - Yield - IBM