Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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International Business Machines Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
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
Taxes
Short-term debt
Accounts payable
Compensation and benefits
Deferred income
Current operating lease liabilities
Other accrued expenses and liabilities
Current liabilities
Long-term debt, excluding current maturities
Retirement and nonpension postretirement benefit obligations
Deferred income
Noncurrent operating lease liabilities
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock, par value $0.20 per share, and additional paid-in capital
Retained earnings
Treasury stock, at cost
Accumulated other comprehensive loss
Total IBM stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 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 composition of liabilities and stockholders’ equity exhibited several notable trends over the observed period from March 2021 to December 2025. Overall, the proportion of total liabilities generally decreased while the proportion of total equity increased, particularly in the later periods. Several specific liability accounts demonstrated consistent patterns, while equity components experienced more fluctuation.

Short-Term Debt
Short-term debt as a percentage of total liabilities and equity showed volatility, peaking at 5.77% in March 2022 before declining to 4.23% by September 2023. A subsequent increase was observed, reaching 6.02% in June 2025, indicating a potential reliance on short-term financing at the end of the period.
Current Liabilities
Current liabilities remained relatively stable, fluctuating between approximately 23.19% and 25.47% of the total. A slight downward trend became apparent in 2024, continuing into the first half of 2025, suggesting improved short-term liquidity management.
Long-Term Debt
Long-term debt, excluding current maturities, demonstrated an increasing trend from 34.45% in March 2021 to 40.28% in March 2023. However, it then decreased to 36.11% by September 2025, potentially reflecting debt repayment or restructuring efforts. The proportion of noncurrent liabilities generally decreased over the period, mirroring this trend.
Retirement and Postretirement Obligations
Retirement and nonpension postretirement benefit obligations consistently decreased as a percentage of total liabilities and equity, falling from 11.67% in March 2021 to 5.94% in September 2025. This suggests a reduction in these long-term obligations, potentially through plan amendments or changes in actuarial assumptions.
Stockholders’ Equity Components
Common stock and additional paid-in capital remained relatively stable, fluctuating around 40-46% of the total. Retained earnings exhibited a general upward trend, increasing from 109.14% in March 2021 to 102.48% in September 2025, indicating accumulated profits. Treasury stock consistently represented a significant deduction from equity, with its negative percentage increasing over time before decreasing slightly in the final periods. Accumulated other comprehensive loss also remained negative, but showed a relatively stable pattern.
Deferred Income
Both deferred income accounts (current and noncurrent) showed relative stability throughout the period, with minor fluctuations. The current portion generally ranged between 8.50% and 10.24%, while the noncurrent portion fluctuated between 1.67% and 2.75%.
Overall Equity Trend
Total equity as a percentage of total liabilities and equity increased from 14.47% in March 2021 to 21.56% in September 2025. This increase, coupled with the decrease in total liabilities, suggests a strengthening financial position and a reduced reliance on debt financing.

The observed trends suggest a shift in the company’s capital structure towards greater equity financing and a more manageable debt profile, particularly in the later periods of the analysis. The reduction in retirement obligations also contributed to the improved financial position.