Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
International Business Machines Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | International Business Machines Corp. debt to equity ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | International Business Machines Corp. debt to equity ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | International Business Machines Corp. debt to capital ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | International Business Machines Corp. debt to capital ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | International Business Machines Corp. debt to assets ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | International Business Machines Corp. debt to assets ratio (including operating lease liability) improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | International Business Machines Corp. financial leverage ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | International Business Machines Corp. interest coverage ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity
International Business Machines Corp., debt to equity calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | 5,471) | 6,426) | 6,414) | 6,785) | 4,887) | 4,760) | 5,937) | 5,981) | 7,690) | 6,787) | 7,575) | 6,442) | 5,198) | 7,183) | 10,285) | 9,289) | 11,642) | 8,797) | 8,530) | 14,594) | 10,250) | |||||||
| Long-term debt, excluding current maturities | 54,033) | 50,121) | 48,828) | 50,691) | 53,826) | 46,189) | 44,942) | 44,328) | 46,545) | 44,917) | 46,926) | 48,735) | 51,206) | 54,355) | 55,129) | 55,449) | 52,685) | 54,102) | 57,797) | 58,445) | 39,727) | |||||||
| Total debt | 59,504) | 56,547) | 55,242) | 57,476) | 58,713) | 50,949) | 50,879) | 50,309) | 54,235) | 51,704) | 54,501) | 55,177) | 56,404) | 61,538) | 65,414) | 64,738) | 64,327) | 62,899) | 66,327) | 73,039) | 49,977) | |||||||
| Total IBM stockholders’ equity | 23,261) | 22,533) | 23,081) | 22,201) | 21,604) | 21,944) | 20,076) | 19,409) | 19,050) | 18,901) | 22,228) | 21,942) | 21,389) | 20,597) | 21,208) | 20,551) | 19,999) | 20,841) | 17,956) | 17,645) | 16,481) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity1 | 2.56 | 2.51 | 2.39 | 2.59 | 2.72 | 2.32 | 2.53 | 2.59 | 2.85 | 2.74 | 2.45 | 2.51 | 2.64 | 2.99 | 3.08 | 3.15 | 3.22 | 3.02 | 3.69 | 4.14 | 3.03 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Adobe Inc. | 0.24 | 0.22 | 0.23 | 0.24 | 0.26 | 0.29 | 0.29 | 0.30 | 0.30 | 0.28 | 0.29 | 0.30 | 0.30 | 0.31 | 0.35 | 0.38 | 0.39 | 0.39 | 0.40 | 0.42 | 0.42 | |||||||
| Intuit Inc. | 0.35 | 0.35 | 0.38 | 0.45 | 0.43 | 0.42 | 0.40 | 0.43 | 0.21 | 0.21 | 0.20 | 0.27 | 0.45 | 0.66 | 0.08 | 0.11 | 0.12 | 0.12 | 0.11 | 0.15 | 0.15 | |||||||
| Microsoft Corp. | 0.32 | 0.23 | 0.25 | 0.26 | 0.28 | 0.30 | 0.31 | 0.33 | 0.35 | 0.41 | 0.43 | 0.46 | 0.52 | 0.54 | 0.58 | 0.63 | 0.66 | 0.71 | 0.77 | 0.79 | 0.89 | |||||||
| Oracle Corp. | 37.53 | 84.33 | — | — | — | — | — | — | — | 16.08 | 7.79 | 8.94 | 7.46 | 5.93 | 3.63 | 3.32 | 2.95 | 2.58 | 2.37 | 1.90 | 1.53 | |||||||
| Palo Alto Networks Inc. | 0.90 | 1.14 | 2.99 | 5.05 | 7.24 | 17.51 | 10.89 | 31.19 | 7.08 | 5.08 | 3.20 | 3.04 | 4.18 | 2.80 | 1.98 | 0.91 | 0.95 | 0.90 | 1.08 | 1.45 | 1.30 | |||||||
| Salesforce Inc. | 0.17 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.24 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.17 | 0.19 | 0.20 | 0.25 | 0.27 | 0.29 | |||||||
| ServiceNow Inc. | — | 0.20 | 0.21 | 0.21 | 0.27 | 0.30 | 0.33 | 0.35 | 0.39 | 0.43 | 0.45 | 0.48 | 0.53 | 0.58 | 0.64 | 0.28 | 0.31 | 0.33 | 0.48 | 0.54 | 0.56 | |||||||
| Synopsys Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.06 | 0.08 | 0.03 | 0.04 | 0.07 | 0.14 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to equity = Total debt ÷ Total IBM stockholders’ equity
= 59,504 ÷ 23,261 = 2.56
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | International Business Machines Corp. debt to equity ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Equity (including Operating Lease Liability)
International Business Machines Corp., debt to equity (including operating lease liability) calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | 5,471) | 6,426) | 6,414) | 6,785) | 4,887) | 4,760) | 5,937) | 5,981) | 7,690) | 6,787) | 7,575) | 6,442) | 5,198) | 7,183) | 10,285) | 9,289) | 11,642) | 8,797) | 8,530) | 14,594) | 10,250) | |||||||
| Long-term debt, excluding current maturities | 54,033) | 50,121) | 48,828) | 50,691) | 53,826) | 46,189) | 44,942) | 44,328) | 46,545) | 44,917) | 46,926) | 48,735) | 51,206) | 54,355) | 55,129) | 55,449) | 52,685) | 54,102) | 57,797) | 58,445) | 39,727) | |||||||
| Total debt | 59,504) | 56,547) | 55,242) | 57,476) | 58,713) | 50,949) | 50,879) | 50,309) | 54,235) | 51,704) | 54,501) | 55,177) | 56,404) | 61,538) | 65,414) | 64,738) | 64,327) | 62,899) | 66,327) | 73,039) | 49,977) | |||||||
| Current operating lease liabilities | 784) | 820) | 807) | 842) | 869) | 874) | 844) | 884) | 954) | 974) | 1,285) | 1,334) | 1,337) | 1,357) | 1,336) | 1,343) | 1,327) | 1,380) | 1,377) | 1,319) | 1,313) | |||||||
| Noncurrent operating lease liabilities | 2,583) | 2,568) | 2,476) | 1,986) | 2,094) | 2,190) | 2,103) | 2,182) | 2,358) | 2,462) | 3,192) | 3,278) | 3,379) | 3,574) | 3,635) | 3,684) | 3,799) | 3,879) | 3,790) | 3,946) | 3,590) | |||||||
| Total debt (including operating lease liability) | 62,871) | 59,935) | 58,525) | 60,304) | 61,676) | 54,013) | 53,826) | 53,375) | 57,547) | 55,140) | 58,978) | 59,789) | 61,120) | 66,469) | 70,385) | 69,765) | 69,453) | 68,158) | 71,494) | 78,304) | 54,880) | |||||||
| Total IBM stockholders’ equity | 23,261) | 22,533) | 23,081) | 22,201) | 21,604) | 21,944) | 20,076) | 19,409) | 19,050) | 18,901) | 22,228) | 21,942) | 21,389) | 20,597) | 21,208) | 20,551) | 19,999) | 20,841) | 17,956) | 17,645) | 16,481) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 2.70 | 2.66 | 2.54 | 2.72 | 2.85 | 2.46 | 2.68 | 2.75 | 3.02 | 2.92 | 2.65 | 2.72 | 2.86 | 3.23 | 3.32 | 3.39 | 3.47 | 3.27 | 3.98 | 4.44 | 3.33 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 0.12 | 0.12 | 0.12 | 0.14 | 0.14 | 0.15 | 0.16 | 0.17 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.21 | 0.22 | 0.22 | 0.22 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Adobe Inc. | 0.26 | 0.25 | 0.26 | 0.28 | 0.29 | 0.33 | 0.32 | 0.33 | 0.34 | 0.32 | 0.33 | 0.34 | 0.35 | 0.35 | 0.40 | 0.43 | 0.45 | 0.39 | 0.40 | 0.42 | 0.42 | |||||||
| Intuit Inc. | 0.37 | 0.38 | 0.40 | 0.48 | 0.47 | 0.45 | 0.43 | 0.46 | 0.25 | 0.24 | 0.24 | 0.31 | 0.49 | 0.70 | 0.13 | 0.19 | 0.20 | 0.12 | 0.11 | 0.15 | 0.15 | |||||||
| Microsoft Corp. | 0.39 | 0.29 | 0.31 | 0.33 | 0.35 | 0.37 | 0.38 | 0.40 | 0.42 | 0.48 | 0.50 | 0.53 | 0.58 | 0.60 | 0.65 | 0.70 | 0.72 | 0.77 | 0.83 | 0.86 | 0.95 | |||||||
| Palo Alto Networks Inc. | 1.02 | 1.30 | 3.20 | 5.42 | 7.80 | 18.82 | 11.70 | 33.58 | 7.65 | 5.58 | 3.52 | 3.35 | 4.61 | 3.10 | 2.45 | 1.13 | 1.20 | 0.90 | 1.08 | 1.45 | 1.30 | |||||||
| Salesforce Inc. | 0.23 | 0.24 | 0.24 | 0.23 | 0.24 | 0.24 | 0.25 | 0.30 | 0.14 | 0.15 | 0.14 | 0.15 | 0.17 | 0.17 | 0.18 | 0.35 | 0.38 | 0.20 | 0.25 | 0.27 | 0.29 | |||||||
| ServiceNow Inc. | — | 0.30 | 0.31 | 0.32 | 0.40 | 0.44 | 0.47 | 0.51 | 0.55 | 0.60 | 0.63 | 0.64 | 0.69 | 0.75 | 0.82 | 0.48 | 0.53 | 0.53 | 0.79 | 0.88 | 0.91 | |||||||
| Synopsys Inc. | 0.10 | 0.11 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.11 | 0.13 | 0.13 | 0.14 | 0.13 | 0.14 | 0.15 | 0.18 | 0.21 | 0.03 | 0.04 | 0.07 | 0.14 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total IBM stockholders’ equity
= 62,871 ÷ 23,261 = 2.70
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | International Business Machines Corp. debt to equity ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Capital
International Business Machines Corp., debt to capital calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | 5,471) | 6,426) | 6,414) | 6,785) | 4,887) | 4,760) | 5,937) | 5,981) | 7,690) | 6,787) | 7,575) | 6,442) | 5,198) | 7,183) | 10,285) | 9,289) | 11,642) | 8,797) | 8,530) | 14,594) | 10,250) | |||||||
| Long-term debt, excluding current maturities | 54,033) | 50,121) | 48,828) | 50,691) | 53,826) | 46,189) | 44,942) | 44,328) | 46,545) | 44,917) | 46,926) | 48,735) | 51,206) | 54,355) | 55,129) | 55,449) | 52,685) | 54,102) | 57,797) | 58,445) | 39,727) | |||||||
| Total debt | 59,504) | 56,547) | 55,242) | 57,476) | 58,713) | 50,949) | 50,879) | 50,309) | 54,235) | 51,704) | 54,501) | 55,177) | 56,404) | 61,538) | 65,414) | 64,738) | 64,327) | 62,899) | 66,327) | 73,039) | 49,977) | |||||||
| Total IBM stockholders’ equity | 23,261) | 22,533) | 23,081) | 22,201) | 21,604) | 21,944) | 20,076) | 19,409) | 19,050) | 18,901) | 22,228) | 21,942) | 21,389) | 20,597) | 21,208) | 20,551) | 19,999) | 20,841) | 17,956) | 17,645) | 16,481) | |||||||
| Total capital | 82,765) | 79,080) | 78,323) | 79,677) | 80,317) | 72,893) | 70,955) | 69,718) | 73,285) | 70,605) | 76,729) | 77,119) | 77,793) | 82,135) | 86,622) | 85,289) | 84,326) | 83,740) | 84,283) | 90,684) | 66,458) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital1 | 0.72 | 0.72 | 0.71 | 0.72 | 0.73 | 0.70 | 0.72 | 0.72 | 0.74 | 0.73 | 0.71 | 0.72 | 0.73 | 0.75 | 0.76 | 0.76 | 0.76 | 0.75 | 0.79 | 0.81 | 0.75 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Adobe Inc. | 0.19 | 0.18 | 0.19 | 0.20 | 0.20 | 0.23 | 0.22 | 0.23 | 0.23 | 0.22 | 0.22 | 0.23 | 0.23 | 0.24 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | 0.29 | 0.29 | |||||||
| Intuit Inc. | 0.26 | 0.26 | 0.27 | 0.31 | 0.30 | 0.30 | 0.29 | 0.30 | 0.17 | 0.17 | 0.17 | 0.21 | 0.31 | 0.40 | 0.08 | 0.10 | 0.10 | 0.10 | 0.10 | 0.13 | 0.13 | |||||||
| Microsoft Corp. | 0.24 | 0.19 | 0.20 | 0.21 | 0.22 | 0.23 | 0.23 | 0.25 | 0.26 | 0.29 | 0.30 | 0.32 | 0.34 | 0.35 | 0.37 | 0.39 | 0.40 | 0.41 | 0.44 | 0.44 | 0.47 | |||||||
| Oracle Corp. | 0.97 | 0.99 | 1.03 | 1.05 | 1.07 | 1.09 | 1.12 | 1.15 | 1.02 | 0.94 | 0.89 | 0.90 | 0.88 | 0.86 | 0.78 | 0.77 | 0.75 | 0.72 | 0.70 | 0.65 | 0.60 | |||||||
| Palo Alto Networks Inc. | 0.47 | 0.53 | 0.75 | 0.83 | 0.88 | 0.95 | 0.92 | 0.97 | 0.88 | 0.84 | 0.76 | 0.75 | 0.81 | 0.74 | 0.66 | 0.48 | 0.49 | 0.47 | 0.52 | 0.59 | 0.56 | |||||||
| Salesforce Inc. | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.19 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.15 | 0.16 | 0.17 | 0.20 | 0.21 | 0.22 | |||||||
| ServiceNow Inc. | — | 0.16 | 0.17 | 0.18 | 0.21 | 0.23 | 0.25 | 0.26 | 0.28 | 0.30 | 0.31 | 0.33 | 0.35 | 0.37 | 0.39 | 0.22 | 0.24 | 0.25 | 0.32 | 0.35 | 0.36 | |||||||
| Synopsys Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.05 | 0.07 | 0.03 | 0.03 | 0.07 | 0.13 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to capital = Total debt ÷ Total capital
= 59,504 ÷ 82,765 = 0.72
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | International Business Machines Corp. debt to capital ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Capital (including Operating Lease Liability)
International Business Machines Corp., debt to capital (including operating lease liability) calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | 5,471) | 6,426) | 6,414) | 6,785) | 4,887) | 4,760) | 5,937) | 5,981) | 7,690) | 6,787) | 7,575) | 6,442) | 5,198) | 7,183) | 10,285) | 9,289) | 11,642) | 8,797) | 8,530) | 14,594) | 10,250) | |||||||
| Long-term debt, excluding current maturities | 54,033) | 50,121) | 48,828) | 50,691) | 53,826) | 46,189) | 44,942) | 44,328) | 46,545) | 44,917) | 46,926) | 48,735) | 51,206) | 54,355) | 55,129) | 55,449) | 52,685) | 54,102) | 57,797) | 58,445) | 39,727) | |||||||
| Total debt | 59,504) | 56,547) | 55,242) | 57,476) | 58,713) | 50,949) | 50,879) | 50,309) | 54,235) | 51,704) | 54,501) | 55,177) | 56,404) | 61,538) | 65,414) | 64,738) | 64,327) | 62,899) | 66,327) | 73,039) | 49,977) | |||||||
| Current operating lease liabilities | 784) | 820) | 807) | 842) | 869) | 874) | 844) | 884) | 954) | 974) | 1,285) | 1,334) | 1,337) | 1,357) | 1,336) | 1,343) | 1,327) | 1,380) | 1,377) | 1,319) | 1,313) | |||||||
| Noncurrent operating lease liabilities | 2,583) | 2,568) | 2,476) | 1,986) | 2,094) | 2,190) | 2,103) | 2,182) | 2,358) | 2,462) | 3,192) | 3,278) | 3,379) | 3,574) | 3,635) | 3,684) | 3,799) | 3,879) | 3,790) | 3,946) | 3,590) | |||||||
| Total debt (including operating lease liability) | 62,871) | 59,935) | 58,525) | 60,304) | 61,676) | 54,013) | 53,826) | 53,375) | 57,547) | 55,140) | 58,978) | 59,789) | 61,120) | 66,469) | 70,385) | 69,765) | 69,453) | 68,158) | 71,494) | 78,304) | 54,880) | |||||||
| Total IBM stockholders’ equity | 23,261) | 22,533) | 23,081) | 22,201) | 21,604) | 21,944) | 20,076) | 19,409) | 19,050) | 18,901) | 22,228) | 21,942) | 21,389) | 20,597) | 21,208) | 20,551) | 19,999) | 20,841) | 17,956) | 17,645) | 16,481) | |||||||
| Total capital (including operating lease liability) | 86,132) | 82,468) | 81,606) | 82,505) | 83,280) | 75,957) | 73,902) | 72,784) | 76,597) | 74,041) | 81,206) | 81,731) | 82,509) | 87,066) | 91,593) | 90,316) | 89,452) | 88,999) | 89,450) | 95,949) | 71,361) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.73 | 0.73 | 0.72 | 0.73 | 0.74 | 0.71 | 0.73 | 0.73 | 0.75 | 0.74 | 0.73 | 0.73 | 0.74 | 0.76 | 0.77 | 0.77 | 0.78 | 0.77 | 0.80 | 0.82 | 0.77 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 0.10 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.16 | 0.17 | 0.18 | 0.18 | 0.18 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Adobe Inc. | 0.21 | 0.20 | 0.21 | 0.22 | 0.23 | 0.25 | 0.24 | 0.25 | 0.25 | 0.24 | 0.25 | 0.25 | 0.26 | 0.26 | 0.29 | 0.30 | 0.31 | 0.28 | 0.29 | 0.29 | 0.29 | |||||||
| Intuit Inc. | 0.27 | 0.28 | 0.29 | 0.32 | 0.32 | 0.31 | 0.30 | 0.31 | 0.20 | 0.20 | 0.19 | 0.24 | 0.33 | 0.41 | 0.11 | 0.16 | 0.17 | 0.10 | 0.10 | 0.13 | 0.13 | |||||||
| Microsoft Corp. | 0.28 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 | 0.27 | 0.29 | 0.29 | 0.32 | 0.33 | 0.35 | 0.37 | 0.38 | 0.39 | 0.41 | 0.42 | 0.43 | 0.45 | 0.46 | 0.49 | |||||||
| Palo Alto Networks Inc. | 0.51 | 0.56 | 0.76 | 0.84 | 0.89 | 0.95 | 0.92 | 0.97 | 0.88 | 0.85 | 0.78 | 0.77 | 0.82 | 0.76 | 0.71 | 0.53 | 0.55 | 0.47 | 0.52 | 0.59 | 0.56 | |||||||
| Salesforce Inc. | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.23 | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.15 | 0.15 | 0.26 | 0.27 | 0.17 | 0.20 | 0.21 | 0.22 | |||||||
| ServiceNow Inc. | — | 0.23 | 0.24 | 0.24 | 0.29 | 0.31 | 0.32 | 0.34 | 0.36 | 0.37 | 0.39 | 0.39 | 0.41 | 0.43 | 0.45 | 0.33 | 0.35 | 0.35 | 0.44 | 0.47 | 0.48 | |||||||
| Synopsys Inc. | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.10 | 0.11 | 0.12 | 0.12 | 0.12 | 0.12 | 0.13 | 0.15 | 0.17 | 0.03 | 0.03 | 0.07 | 0.13 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 62,871 ÷ 86,132 = 0.73
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | International Business Machines Corp. debt to capital ratio (including operating lease liability) deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Debt to Assets
International Business Machines Corp., debt to assets calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | 5,471) | 6,426) | 6,414) | 6,785) | 4,887) | 4,760) | 5,937) | 5,981) | 7,690) | 6,787) | 7,575) | 6,442) | 5,198) | 7,183) | 10,285) | 9,289) | 11,642) | 8,797) | 8,530) | 14,594) | 10,250) | |||||||
| Long-term debt, excluding current maturities | 54,033) | 50,121) | 48,828) | 50,691) | 53,826) | 46,189) | 44,942) | 44,328) | 46,545) | 44,917) | 46,926) | 48,735) | 51,206) | 54,355) | 55,129) | 55,449) | 52,685) | 54,102) | 57,797) | 58,445) | 39,727) | |||||||
| Total debt | 59,504) | 56,547) | 55,242) | 57,476) | 58,713) | 50,949) | 50,879) | 50,309) | 54,235) | 51,704) | 54,501) | 55,177) | 56,404) | 61,538) | 65,414) | 64,738) | 64,327) | 62,899) | 66,327) | 73,039) | 49,977) | |||||||
| Total assets | 137,169) | 135,241) | 129,321) | 132,213) | 133,637) | 127,243) | 125,850) | 127,503) | 133,275) | 132,001) | 144,214) | 146,814) | 148,629) | 155,971) | 154,128) | 154,200) | 153,403) | 152,186) | 149,620) | 154,652) | 130,926) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets1 | 0.43 | 0.42 | 0.43 | 0.43 | 0.44 | 0.40 | 0.40 | 0.39 | 0.41 | 0.39 | 0.38 | 0.38 | 0.38 | 0.39 | 0.42 | 0.42 | 0.42 | 0.41 | 0.44 | 0.47 | 0.38 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Adobe Inc. | 0.13 | 0.12 | 0.12 | 0.13 | 0.14 | 0.15 | 0.15 | 0.16 | 0.16 | 0.15 | 0.16 | 0.16 | 0.16 | 0.17 | 0.18 | 0.19 | 0.19 | 0.20 | 0.21 | 0.21 | 0.21 | |||||||
| Intuit Inc. | 0.21 | 0.22 | 0.23 | 0.26 | 0.26 | 0.25 | 0.24 | 0.26 | 0.14 | 0.13 | 0.13 | 0.16 | 0.24 | 0.31 | 0.05 | 0.06 | 0.07 | 0.07 | 0.06 | 0.08 | 0.09 | |||||||
| Microsoft Corp. | 0.16 | 0.11 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.16 | 0.16 | 0.17 | 0.19 | 0.20 | 0.21 | 0.21 | 0.23 | 0.25 | 0.25 | 0.25 | 0.28 | 0.28 | 0.30 | |||||||
| Oracle Corp. | 0.65 | 0.67 | 0.70 | 0.71 | 0.70 | 0.69 | 0.72 | 0.73 | 0.67 | 0.64 | 0.59 | 0.64 | 0.62 | 0.62 | 0.53 | 0.52 | 0.51 | 0.52 | 0.51 | 0.49 | 0.45 | |||||||
| Palo Alto Networks Inc. | 0.13 | 0.14 | 0.26 | 0.28 | 0.29 | 0.30 | 0.33 | 0.35 | 0.35 | 0.31 | 0.33 | 0.33 | 0.36 | 0.34 | 0.23 | 0.20 | 0.21 | 0.22 | 0.25 | 0.27 | 0.28 | |||||||
| Salesforce Inc. | 0.10 | 0.11 | 0.12 | 0.11 | 0.11 | 0.11 | 0.12 | 0.15 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.09 | 0.10 | 0.10 | 0.14 | 0.14 | 0.14 | |||||||
| ServiceNow Inc. | — | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.13 | 0.14 | 0.15 | 0.17 | 0.17 | 0.18 | 0.19 | 0.22 | 0.11 | 0.11 | 0.12 | 0.14 | 0.15 | 0.15 | |||||||
| Synopsys Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 | 0.05 | 0.02 | 0.02 | 0.05 | 0.09 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to assets = Total debt ÷ Total assets
= 59,504 ÷ 137,169 = 0.43
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | International Business Machines Corp. debt to assets ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Debt to Assets (including Operating Lease Liability)
International Business Machines Corp., debt to assets (including operating lease liability) calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Short-term debt | 5,471) | 6,426) | 6,414) | 6,785) | 4,887) | 4,760) | 5,937) | 5,981) | 7,690) | 6,787) | 7,575) | 6,442) | 5,198) | 7,183) | 10,285) | 9,289) | 11,642) | 8,797) | 8,530) | 14,594) | 10,250) | |||||||
| Long-term debt, excluding current maturities | 54,033) | 50,121) | 48,828) | 50,691) | 53,826) | 46,189) | 44,942) | 44,328) | 46,545) | 44,917) | 46,926) | 48,735) | 51,206) | 54,355) | 55,129) | 55,449) | 52,685) | 54,102) | 57,797) | 58,445) | 39,727) | |||||||
| Total debt | 59,504) | 56,547) | 55,242) | 57,476) | 58,713) | 50,949) | 50,879) | 50,309) | 54,235) | 51,704) | 54,501) | 55,177) | 56,404) | 61,538) | 65,414) | 64,738) | 64,327) | 62,899) | 66,327) | 73,039) | 49,977) | |||||||
| Current operating lease liabilities | 784) | 820) | 807) | 842) | 869) | 874) | 844) | 884) | 954) | 974) | 1,285) | 1,334) | 1,337) | 1,357) | 1,336) | 1,343) | 1,327) | 1,380) | 1,377) | 1,319) | 1,313) | |||||||
| Noncurrent operating lease liabilities | 2,583) | 2,568) | 2,476) | 1,986) | 2,094) | 2,190) | 2,103) | 2,182) | 2,358) | 2,462) | 3,192) | 3,278) | 3,379) | 3,574) | 3,635) | 3,684) | 3,799) | 3,879) | 3,790) | 3,946) | 3,590) | |||||||
| Total debt (including operating lease liability) | 62,871) | 59,935) | 58,525) | 60,304) | 61,676) | 54,013) | 53,826) | 53,375) | 57,547) | 55,140) | 58,978) | 59,789) | 61,120) | 66,469) | 70,385) | 69,765) | 69,453) | 68,158) | 71,494) | 78,304) | 54,880) | |||||||
| Total assets | 137,169) | 135,241) | 129,321) | 132,213) | 133,637) | 127,243) | 125,850) | 127,503) | 133,275) | 132,001) | 144,214) | 146,814) | 148,629) | 155,971) | 154,128) | 154,200) | 153,403) | 152,186) | 149,620) | 154,652) | 130,926) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.46 | 0.44 | 0.45 | 0.46 | 0.46 | 0.42 | 0.43 | 0.42 | 0.43 | 0.42 | 0.41 | 0.41 | 0.41 | 0.43 | 0.46 | 0.45 | 0.45 | 0.45 | 0.48 | 0.51 | 0.42 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||
| Adobe Inc. | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.17 | 0.17 | 0.18 | 0.18 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.21 | 0.22 | 0.22 | 0.20 | 0.21 | 0.21 | 0.21 | |||||||
| Intuit Inc. | 0.22 | 0.24 | 0.25 | 0.28 | 0.28 | 0.27 | 0.25 | 0.27 | 0.16 | 0.16 | 0.15 | 0.19 | 0.27 | 0.33 | 0.08 | 0.10 | 0.12 | 0.07 | 0.06 | 0.08 | 0.09 | |||||||
| Microsoft Corp. | 0.19 | 0.15 | 0.16 | 0.16 | 0.17 | 0.17 | 0.18 | 0.19 | 0.19 | 0.20 | 0.22 | 0.23 | 0.24 | 0.24 | 0.26 | 0.27 | 0.27 | 0.27 | 0.30 | 0.30 | 0.32 | |||||||
| Palo Alto Networks Inc. | 0.15 | 0.16 | 0.28 | 0.30 | 0.32 | 0.32 | 0.36 | 0.38 | 0.38 | 0.35 | 0.37 | 0.37 | 0.39 | 0.38 | 0.28 | 0.25 | 0.27 | 0.22 | 0.25 | 0.27 | 0.28 | |||||||
| Salesforce Inc. | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.19 | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.12 | 0.18 | 0.19 | 0.10 | 0.14 | 0.14 | 0.14 | |||||||
| ServiceNow Inc. | — | 0.13 | 0.15 | 0.15 | 0.16 | 0.17 | 0.19 | 0.19 | 0.20 | 0.21 | 0.23 | 0.23 | 0.24 | 0.24 | 0.29 | 0.18 | 0.19 | 0.19 | 0.24 | 0.24 | 0.25 | |||||||
| Synopsys Inc. | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.11 | 0.12 | 0.02 | 0.02 | 0.05 | 0.09 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 62,871 ÷ 137,169 = 0.46
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets (including operating lease liability) ratio | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | International Business Machines Corp. debt to assets ratio (including operating lease liability) improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Financial Leverage
International Business Machines Corp., financial leverage calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Total assets | 137,169) | 135,241) | 129,321) | 132,213) | 133,637) | 127,243) | 125,850) | 127,503) | 133,275) | 132,001) | 144,214) | 146,814) | 148,629) | 155,971) | 154,128) | 154,200) | 153,403) | 152,186) | 149,620) | 154,652) | 130,926) | |||||||
| Total IBM stockholders’ equity | 23,261) | 22,533) | 23,081) | 22,201) | 21,604) | 21,944) | 20,076) | 19,409) | 19,050) | 18,901) | 22,228) | 21,942) | 21,389) | 20,597) | 21,208) | 20,551) | 19,999) | 20,841) | 17,956) | 17,645) | 16,481) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Financial leverage1 | 5.90 | 6.00 | 5.60 | 5.96 | 6.19 | 5.80 | 6.27 | 6.57 | 7.00 | 6.98 | 6.49 | 6.69 | 6.95 | 7.57 | 7.27 | 7.50 | 7.67 | 7.30 | 8.33 | 8.76 | 7.94 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 1.93 | 1.99 | 1.98 | 2.01 | 2.05 | 2.14 | 2.16 | 2.16 | 2.15 | 2.21 | 2.18 | 2.18 | 2.14 | 2.18 | 2.19 | 2.17 | 2.19 | 2.07 | 2.05 | 2.05 | 2.11 | |||||||
| Adobe Inc. | 1.86 | 1.80 | 1.84 | 1.88 | 1.88 | 1.93 | 1.86 | 1.88 | 1.89 | 1.84 | 1.81 | 1.85 | 1.84 | 1.83 | 1.91 | 1.99 | 2.03 | 1.97 | 1.96 | 1.98 | 1.98 | |||||||
| Intuit Inc. | 1.68 | 1.61 | 1.64 | 1.72 | 1.69 | 1.69 | 1.68 | 1.69 | 1.53 | 1.57 | 1.58 | 1.65 | 1.85 | 2.14 | 1.64 | 1.80 | 1.70 | 1.68 | 1.70 | 1.91 | 1.77 | |||||||
| Microsoft Corp. | 2.02 | 2.00 | 1.95 | 1.99 | 2.07 | 2.19 | 2.12 | 2.13 | 2.21 | 2.35 | 2.30 | 2.34 | 2.44 | 2.55 | 2.49 | 2.57 | 2.63 | 2.80 | 2.78 | 2.81 | 3.00 | |||||||
| Oracle Corp. | 57.66 | 125.24 | — | — | — | — | — | — | — | 25.03 | 13.27 | 13.90 | 11.96 | 9.56 | 6.79 | 6.33 | 5.76 | 4.99 | 4.61 | 3.87 | 3.37 | |||||||
| Palo Alto Networks Inc. | 6.82 | 8.29 | 11.50 | 18.06 | 24.69 | 58.35 | 32.88 | 88.29 | 20.09 | 16.14 | 9.59 | 9.15 | 11.68 | 8.23 | 8.73 | 4.47 | 4.50 | 4.16 | 4.31 | 5.33 | 4.63 | |||||||
| Salesforce Inc. | 1.63 | 1.69 | 1.55 | 1.57 | 1.58 | 1.64 | 1.53 | 1.60 | 1.52 | 1.60 | 1.47 | 1.50 | 1.55 | 1.63 | 1.50 | 1.94 | 2.02 | 1.97 | 1.81 | 1.91 | 2.08 | |||||||
| ServiceNow Inc. | — | 2.28 | 2.10 | 2.15 | 2.43 | 2.64 | 2.46 | 2.65 | 2.75 | 2.92 | 2.68 | 2.81 | 2.90 | 3.07 | 2.88 | 2.63 | 2.73 | 2.83 | 3.33 | 3.65 | 3.68 | |||||||
| Synopsys Inc. | 1.58 | 1.68 | 1.67 | 1.68 | 1.70 | 1.71 | 1.66 | 1.66 | 1.65 | 1.65 | 1.65 | 1.64 | 1.64 | 1.64 | 1.67 | 1.71 | 1.74 | 1.57 | 1.56 | 1.58 | 1.68 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Financial leverage = Total assets ÷ Total IBM stockholders’ equity
= 137,169 ÷ 23,261 = 5.90
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | International Business Machines Corp. financial leverage ratio increased from Q3 2023 to Q4 2023 but then slightly decreased from Q4 2023 to Q1 2024. |
Interest Coverage
International Business Machines Corp., interest coverage calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||
| Net income (loss) | 1,605) | 3,288) | 1,704) | 1,583) | 927) | 2,710) | (3,196) | 1,392) | 733) | 2,333) | 1,130) | 1,325) | 955) | 1,356) | 1,698) | 1,361) | 1,175) | 3,670) | 1,672) | 2,498) | 1,591) | |||||||
| Less: Income (loss) from discontinued operations, net of tax | 30) | 3) | (10) | 2) | (7) | (159) | 18) | (73) | 71) | (129) | 93) | 515) | 552) | 92) | (1) | (1) | (1) | —) | (1) | (1) | (2) | |||||||
| Add: Income tax expense | (501) | 474) | 159) | 419) | 124) | 443) | (1,287) | 257) | (39) | 407) | (224) | 101) | (159) | 24) | 128) | 209) | (1,225) | 323) | (151) | 269) | 290) | |||||||
| Add: Interest expense | 432) | 405) | 412) | 423) | 367) | 313) | 295) | 297) | 311) | 304) | 290) | 281) | 280) | 316) | 323) | 323) | 326) | 354) | 432) | 348) | 210) | |||||||
| Earnings before interest and tax (EBIT) | 1,506) | 4,164) | 2,285) | 2,423) | 1,425) | 3,625) | (4,206) | 2,019) | 934) | 3,173) | 1,103) | 1,192) | 524) | 1,604) | 2,150) | 1,894) | 277) | 4,347) | 1,954) | 3,116) | 2,093) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||
| Interest coverage1 | 6.21 | 6.41 | 6.44 | 2.34 | 2.25 | 1.95 | 1.59 | 6.01 | 5.40 | 5.19 | 3.79 | 4.56 | 4.97 | 4.60 | 6.54 | 5.90 | 6.64 | 8.56 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||
| Accenture PLC | 168.23 | 193.31 | 220.23 | 212.89 | 217.31 | 195.34 | 188.01 | 133.08 | 133.32 | 131.46 | 126.89 | 196.99 | 191.96 | 205.84 | 248.30 | 245.62 | 270.18 | 273.26 | 299.07 | 287.79 | 307.38 | |||||||
| Adobe Inc. | 58.12 | 61.17 | 58.59 | 55.57 | 53.27 | 54.64 | 54.21 | 54.34 | 53.39 | 51.49 | 49.52 | 45.92 | 42.50 | 37.00 | 32.36 | 28.08 | 23.87 | 21.38 | 20.83 | 22.62 | 26.41 | |||||||
| Intuit Inc. | 13.20 | 13.05 | 14.66 | 16.17 | 19.99 | 32.38 | 55.36 | 62.71 | 93.29 | 89.14 | 92.00 | 89.58 | 120.30 | 158.00 | 158.50 | 164.67 | 148.46 | 126.40 | 122.50 | 104.76 | 82.47 | |||||||
| Oracle Corp. | 3.74 | 3.60 | 3.96 | 4.41 | 3.33 | 3.78 | 3.98 | 4.23 | 6.06 | 6.21 | 6.27 | 6.48 | 6.76 | 7.05 | 7.31 | 7.14 | 6.96 | 6.89 | 6.96 | 6.99 | 7.16 | |||||||
| Palo Alto Networks Inc. | 35.96 | 21.82 | 10.40 | 4.05 | -1.99 | -6.56 | -4.28 | -3.42 | -2.65 | -1.85 | -1.68 | -1.49 | -1.36 | -1.61 | -1.55 | -0.92 | -0.09 | 0.11 | 0.29 | -0.34 | -1.53 | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Interest coverage
= (EBITQ1 2024
+ EBITQ4 2023
+ EBITQ3 2023
+ EBITQ2 2023)
÷ (Interest expenseQ1 2024
+ Interest expenseQ4 2023
+ Interest expenseQ3 2023
+ Interest expenseQ2 2023)
= (1,506 + 4,164 + 2,285 + 2,423)
÷ (432 + 405 + 412 + 423)
= 6.21
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | International Business Machines Corp. interest coverage ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |