Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

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Common-Size Balance Sheet: Assets
Quarterly Data

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International Business Machines Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 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
Cash and cash equivalents
Restricted cash
Marketable securities
Notes and accounts receivable, trade, net of allowances
Short-term financing receivables, held for investment, net of allowances
Short-term financing receivables, held for sale
Other accounts receivable, net of allowances
Finished goods
Work in process and raw materials
Inventory, at lower of average cost or net realizable value
Deferred costs
Prepaid expenses and other current assets
Current assets
Property, plant and equipment
Accumulated depreciation
Property, plant and equipment, net
Operating right-of-use assets, net
Long-term financing receivables, net of allowances
Prepaid pension assets
Deferred costs
Deferred taxes
Goodwill
Intangible assets, net
Investments and sundry assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 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).

The asset composition shows a strategic shift toward intangible value and a reduction in physical infrastructure over the analyzed period. Noncurrent assets consistently dominate the balance sheet, generally maintaining a share between 73% and 79% of total assets, while current assets fluctuate between approximately 20% and 27%.

Intangible Asset Expansion
A significant upward trend is observed in goodwill, which increased from 40.36% of total assets in March 2021 to 47.82% by March 2026. This represents the most substantial growth area within the asset base, suggesting a sustained strategy of acquisitions. Net intangible assets remained relatively stable, though they experienced a slight overall decline from 9.11% in early 2021 to 9.36% in March 2026, with several periods of contraction in between.
Reduction in Tangible Infrastructure
Property, plant, and equipment, net, exhibit a clear and consistent downward trajectory. The share of total assets dropped from 6.36% in March 2021 to 3.70% by March 2026. This decline is mirrored by a reduction in gross property, plant, and equipment, which fell from 21.71% to 11.37% over the same period, indicating a transition away from heavy physical asset ownership.
Liquidity and Cash Management
Cash and cash equivalents show cyclical volatility, peaking at 10.65% in December 2023 before settling at 6.93% in March 2026. Marketable securities demonstrated higher volatility, with notable spikes in March 2023 (6.03%) and March 2025 (4.41%), contrasted by periods where they represented less than 1% of total assets. Total current assets peaked in March 2023 at 26.93% and reached a period low of 20.43% in March 2026.
Receivables and Financing Trends
Trade receivables remained stable, generally fluctuating between 4% and 5% of total assets. However, short-term financing receivables held for investment showed a gradual decline, moving from 5.94% in March 2021 to 3.69% in March 2026. Long-term financing receivables remained more volatile, ending the period at 4.49% after reaching a high of 5.08% in December 2025.
Other Noncurrent Asset Trends
Prepaid pension assets showed a general downward trend from a peak of 7.79% in June 2022 to 4.85% by March 2026. Deferred taxes remained relatively consistent, fluctuating within a narrow band between 4.71% and 6.22% of total assets.