Stock Analysis on Net
Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Total Asset Turnover 
since 2005

Microsoft Excel

Calculation

International Business Machines Corp., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Revenue1 ÷ Total assets1
Dec 31, 2025 0.44 = 67,535 ÷ 151,880
Dec 31, 2024 0.46 = 62,753 ÷ 137,175
Dec 31, 2023 0.46 = 61,860 ÷ 135,241
Dec 31, 2022 0.48 = 60,530 ÷ 127,243
Dec 31, 2021 0.43 = 57,350 ÷ 132,001
Dec 31, 2020 0.47 = 73,620 ÷ 155,971
Dec 31, 2019 0.51 = 77,147 ÷ 152,186
Dec 31, 2018 0.65 = 79,591 ÷ 123,382
Dec 31, 2017 0.63 = 79,139 ÷ 125,356
Dec 31, 2016 0.68 = 79,919 ÷ 117,470
Dec 31, 2015 0.74 = 81,741 ÷ 110,495
Dec 31, 2014 0.79 = 92,793 ÷ 117,532
Dec 31, 2013 0.79 = 99,751 ÷ 126,223
Dec 31, 2012 0.88 = 104,507 ÷ 119,213
Dec 31, 2011 0.92 = 106,916 ÷ 116,433
Dec 31, 2010 0.88 = 99,870 ÷ 113,452
Dec 31, 2009 0.88 = 95,758 ÷ 109,022
Dec 31, 2008 0.95 = 103,630 ÷ 109,524
Dec 31, 2007 0.82 = 98,786 ÷ 120,431
Dec 31, 2006 0.89 = 91,424 ÷ 103,234
Dec 31, 2005 0.86 = 91,134 ÷ 105,748

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

1 US$ in millions

The total asset turnover ratio for the period examined demonstrates a generally declining trend over the seventeen years, with some fluctuations. Initially, the ratio exhibited relative stability before a more pronounced decrease in later years.

Initial Period (2005-2008)
From 2005 to 2008, the ratio fluctuated between 0.86 and 0.95. It began at 0.86 in 2005, increased to 0.89 in 2006, decreased to 0.82 in 2007, and peaked at 0.95 in 2008. This suggests a relatively efficient use of assets to generate revenue during this timeframe, though with some year-to-year variability.
Period of Stability (2009-2011)
The years 2009 through 2011 saw the ratio remain relatively stable, hovering around 0.88 to 0.92. This indicates a consistent, though not improving, level of asset utilization. A slight increase was observed from 0.88 in 2009 to 0.92 in 2011.
Initial Decline (2012-2015)
From 2012, a downward trend became more apparent. The ratio decreased from 0.88 in 2012 to 0.74 in 2015. This suggests a decreasing efficiency in utilizing assets to generate revenue. The decline, while consistent, was moderate during this period.
Accelerated Decline (2016-2019)
The rate of decline accelerated between 2016 and 2019. The ratio fell from 0.68 in 2016 to 0.51 in 2019. This indicates a significant reduction in the efficiency of asset utilization. This period coincides with a substantial increase in total assets.
Recent Years (2020-2025)
The ratio continued to decline, reaching 0.43 in 2020, before showing a slight recovery to 0.48 in 2021. It then remained relatively flat at 0.46 and 0.46 in 2022 and 2023, respectively. The most recent value, 0.44 in 2025, suggests the downward trend has stabilized, but remains at a historically low level. The ratio has decreased significantly from the levels observed in the earlier part of the examined period.

Overall, the trend indicates a diminishing ability to generate revenue from its asset base. The more recent stabilization at a lower level suggests a potential shift in business strategy or operational changes impacting asset utilization. Further investigation would be required to determine the underlying causes of this trend.

AI Ask an analyst for more

Comparison to Competitors

International Business Machines Corp., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
International Business Machines Corp. Accenture PLC Adobe Inc. AppLovin Corp. Cadence Design Systems Inc. CrowdStrike Holdings Inc. Datadog Inc. Intuit Inc. Microsoft Corp. Oracle Corp. Palantir Technologies Inc. Palo Alto Networks Inc. Salesforce Inc. ServiceNow Inc. Synopsys Inc. Workday Inc.
Dec 31, 2025 0.44 1.07 0.81 0.75 0.52 0.45 0.52 0.51 0.46 0.34 0.50 0.39 0.37 0.51 0.15 0.47
Dec 31, 2024 0.46 1.16 0.71 0.80 0.52 0.46 0.46 0.51 0.48 0.38 0.45 0.40 0.35 0.54 0.47 0.44
Dec 31, 2023 0.46 1.25 0.65 0.61 0.72 0.45 0.54 0.52 0.51 0.37 0.49 0.48 0.32 0.52 0.57 0.46
Dec 31, 2022 0.48 1.30 0.65 0.48 0.69 0.40 0.56 0.46 0.54 0.39 0.55 0.45 0.28 0.54 0.54 0.49
Dec 31, 2021 0.43 1.17 0.58 0.45 0.68 0.32 0.43 0.62 0.50 0.31 0.47 0.42 0.32 0.55 0.48 0.50
Dec 31, 2020 0.47 1.20 0.53 — 0.68 0.34 0.32 0.70 0.47 0.34 0.41 0.38 0.31 0.52 0.46 0.53
Dec 31, 2019 0.51 1.45 0.54 — 0.70 — 0.35 1.08 0.44 0.36 — 0.44 0.43 0.57 0.52 0.51
Dec 31, 2018 0.65 1.70 0.48 — 0.87 — — 1.15 0.43 0.29 — 0.39 0.50 0.67 0.51 0.43
Dec 31, 2017 0.63 1.62 0.50 — 0.80 — — 1.27 0.37 0.28 — 0.51 0.48 0.57 0.50 0.50
Dec 31, 2016 0.68 1.69 0.46 — 0.87 — — 1.10 0.44 0.33 — 0.50 0.52 0.68 0.46 0.43
Dec 31, 2015 0.74 1.80 0.41 — 0.72 — — 0.84 0.53 0.34 — 0.47 0.50 0.56 0.44 0.33
Dec 31, 2014 0.79 1.78 0.38 — 0.49 — — 0.87 0.50 0.42 — 0.40 0.44 0.48 0.43 0.22
Dec 31, 2013 0.79 1.80 0.39 — 0.60 — — 0.76 0.55 0.45 — 0.68 0.55 0.36 0.45 0.29
Dec 31, 2012 0.88 1.79 0.44 — 0.58 — — 0.89 0.61 0.47 — 0.63 0.54 0.51 0.42 —
Dec 31, 2011 0.92 1.74 0.47 — 0.65 — — 0.75 0.64 0.48 — — 0.54 — 0.46 —
Dec 31, 2010 0.88 1.80 0.47 — 0.54 — — 0.66 0.73 0.44 — — 0.53 — 0.42 —
Dec 31, 2009 0.88 1.89 0.40 — 0.60 — — 0.66 0.75 0.49 — — 0.73 — 0.46 —
Dec 31, 2008 0.95 2.04 0.61 — 0.62 — — 0.66 0.83 0.47 — — 0.69 — 0.49 —
Dec 31, 2007 0.82 2.00 0.55 — 0.42 — — 0.63 0.81 0.52 — — 0.75 — 0.46 —
Dec 31, 2006 0.89 1.94 0.43 — 0.43 — — 0.85 0.64 0.50 — — 0.71 — 0.51 —
Dec 31, 2005 0.86 1.91 0.81 — 0.39 — — 0.75 0.56 0.57 — — 0.63 — 0.46 —

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Sector (Software & Services)

International Business Machines Corp., total asset turnover, long-term trends, comparison to sector (software & services)

Microsoft Excel
International Business Machines Corp. Software & Services
Dec 31, 2025 0.44 0.46
Dec 31, 2024 0.46 0.49
Dec 31, 2023 0.46 0.51
Dec 31, 2022 0.48 0.52
Dec 31, 2021 0.43 0.48
Dec 31, 2020 0.47 0.48
Dec 31, 2019 0.51 0.50
Dec 31, 2018 0.65 0.51
Dec 31, 2017 0.63 0.47
Dec 31, 2016 0.68 0.54
Dec 31, 2015 0.74 0.59
Dec 31, 2014 0.79 0.61
Dec 31, 2013 0.79 0.66
Dec 31, 2012 0.88 0.72
Dec 31, 2011 0.92 0.75
Dec 31, 2010 0.88 0.76
Dec 31, 2009 0.88 0.79
Dec 31, 2008 0.95 0.86
Dec 31, 2007 0.82 0.81
Dec 31, 2006 0.89 0.78
Dec 31, 2005 0.86 0.77

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).

Comparison to Industry (Information Technology)

International Business Machines Corp., total asset turnover, long-term trends, comparison to industry (information technology)

Microsoft Excel
International Business Machines Corp. Information Technology
Dec 31, 2025 0.44 0.60
Dec 31, 2024 0.46 0.58
Dec 31, 2023 0.46 0.61
Dec 31, 2022 0.48 0.65
Dec 31, 2021 0.43 0.62
Dec 31, 2020 0.47 0.58
Dec 31, 2019 0.51 0.59
Dec 31, 2018 0.65 0.59
Dec 31, 2017 0.63 0.51
Dec 31, 2016 0.68 0.55
Dec 31, 2015 0.74 0.63
Dec 31, 2014 0.79 0.64
Dec 31, 2013 0.79 0.66
Dec 31, 2012 0.88 0.70
Dec 31, 2011 0.92 0.73
Dec 31, 2010 0.88 0.72
Dec 31, 2009 0.88 0.69
Dec 31, 2008 0.95 0.79
Dec 31, 2007 0.82 0.76
Dec 31, 2006 0.89 0.75
Dec 31, 2005 0.86 0.77

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).