International Business Machines Corporation (IBM): ev to ebit, 10 filed years
EV/EBIT at International Business Machines Corporation was 27.69x in FY2025, the newest filed year. Across the 8 computed years from FY2018 it ranged from 11.91x (FY2018) to 75.74x (FY2022), with a median of 28.55x.
Tonight's figure on the company page: 22.89x, at the close of 2026-10-15, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | EV/EBIT | Read from |
|---|---|---|
| FY2016 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2017-02-28 |
| FY2017 The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read. | n/a | 10-K, filed 2018-02-27 |
| FY2018 | 11.91x | 10-K, filed 2019-02-26 |
| FY2019 | 21.30x | 10-K, filed 2020-02-25 |
| FY2020 | 43.23x | 10-K, filed 2021-02-23 |
| FY2021 | 29.42x | 10-K, filed 2022-02-22 |
| FY2022 | 75.74x | 10-K, filed 2023-02-28 |
| FY2023 | 19.87x | 10-K, filed 2024-02-26 |
| FY2024 | 34.16x | 10-K, filed 2025-02-25 |
| FY2025 | 27.69x | 10-K, filed 2026-02-24 |
How each year is computed
(Close at fiscal year end x diluted shares + total debt - cash) / operating income
P/E, free cash flow yield and EV to EBIT set each filed year against the close on or within a week before that fiscal year's end. The price archive here is about five years deep, so older years of those three read n/a. Per-share figures and share counts are put on today's share count after a confirmed split, the basis the price archive is kept on.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.