Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Common-Size Income Statement

International Business Machines Corp., common-size consolidated income statement

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Services 49.11 49.90 50.96 61.13 61.56
Sales 49.70 49.02 47.68 37.33 36.62
Financing 1.19 1.08 1.36 1.54 1.82
Revenue 100.00% 100.00% 100.00% 100.00% 100.00%
Services -34.03 -34.80 -33.39 -41.30 -42.12
Sales -9.90 -10.53 -10.78 -9.42 -9.41
Financing -0.62 -0.67 -0.93 -0.96 -1.17
Cost -44.55% -46.00% -45.10% -51.68% -52.70%
Gross profit 55.45% 54.00% 54.90% 48.32% 47.30%
Selling, general and administrative -30.72 -30.74 -32.69 -31.35 -26.71
Research, development and engineering -10.95 -10.85 -11.31 -8.60 -7.76
Intellectual property and custom development income 1.39 1.10 1.07 0.85 0.84
Operating income 15.17% 13.50% 11.97% 9.22% 13.67%
Foreign currency transaction gains (losses) -0.19 1.06 0.36 -0.15 0.36
Gains (losses) on derivative instruments 0.03 -0.37 -0.36 0.14 -0.02
Interest income 1.08 0.27 0.09 0.14 0.45
Net gains (losses) from securities and investment assets 0.06 -0.46 0.23 0.03 0.04
Retirement-related income (costs) 0.06 -10.82 -2.24 -1.53 -0.80
Other 0.46 0.77 0.43 0.23 1.25
Other income and (expense) 1.51% -9.55% -1.49% -1.14% 1.29%
Interest expense -2.60 -2.01 -2.01 -1.75 -1.74
Income from continuing operations before income taxes 14.07% 1.94% 8.47% 6.33% 13.21%
(Provision for) benefit from income taxes -1.90 1.03 -0.22 1.17 -0.95
Income from continuing operations 12.17% 2.98% 8.25% 7.50% 12.26%
Income (loss) from discontinued operations, net of tax -0.02 -0.24 1.80 0.12 -0.01
Net income 12.15% 2.74% 10.05% 7.62% 12.26%
Net income attributable to noncontrolling interest -0.03 -0.03 -0.03 -0.03 -0.03
Net income attributable to IBM 12.13% 2.71% 10.01% 7.59% 12.22%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Operating income The net result for the period of deducting operating expenses from operating revenues. International Business Machines Corp. operating income as a percentage of revenue increased from 2021 to 2022 and from 2022 to 2023.
Income from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. International Business Machines Corp. income from continuing operations before income taxes as a percentage of revenue decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net income attributable to IBM The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. International Business Machines Corp. net income attributable to IBM as a percentage of revenue decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.