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Analysis of Investments
Advanced level
Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities
International Business Machines Corp., adjustment to net income attributable to IBM
US$ in millions
Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23).
Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)
International Business Machines Corp., adjusted profitability ratios
Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23).
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | International Business Machines Corp.’s adjusted net profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. |
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by shareholders’ equity. | International Business Machines Corp.’s adjusted ROE improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by total assets. | International Business Machines Corp.’s adjusted ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
International Business Machines Corp., Profitability Ratios: Reported vs. Adjusted
Adjusted Net Profit Margin
Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23).
2019 Calculations
1 Net profit margin = 100 × Net income attributable to IBM ÷ Revenue
= 100 × ÷ =
2 Adjusted net profit margin = 100 × Adjusted net income attributable to IBM ÷ Revenue
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted net profit margin | An indicator of profitability, calculated as adjusted net income divided by revenue. | International Business Machines Corp.’s adjusted net profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. |
Adjusted Return on Equity (ROE)
Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23).
2019 Calculations
1 ROE = 100 × Net income attributable to IBM ÷ Total IBM stockholders’ equity
= 100 × ÷ =
2 Adjusted ROE = 100 × Adjusted net income attributable to IBM ÷ Total IBM stockholders’ equity
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROE | A profitability ratio calculated as adjusted net income divided by shareholders’ equity. | International Business Machines Corp.’s adjusted ROE improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Adjusted Return on Assets (ROA)
Based on: 10-K (filing date: 2020-02-25), 10-K (filing date: 2019-02-26), 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-23).
2019 Calculations
1 ROA = 100 × Net income attributable to IBM ÷ Total assets
= 100 × ÷ =
2 Adjusted ROA = 100 × Adjusted net income attributable to IBM ÷ Total assets
= 100 × ÷ =
| Profitability ratio | Description | The company |
|---|---|---|
| Adjusted ROA | A profitability ratio calculated as adjusted net income divided by total assets. | International Business Machines Corp.’s adjusted ROA improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |