International Business Machines Financial Flexibility Index
International Business Machines financial flexibility index. International Business Machines (IBM) has a Financial Flexibility Index of 0.02x as of June 2026. Free cash flow of $2.83 Billion (operating CF $2.60 Billion minus capex $229.00 Million) represents 0% of total liabilities ($117.56 Billion). See IBM FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
Financial Flexibility Index of International Business Machines (1989–2025)
Financial flexibility index of International Business Machines from 1989 to 2025. Historical Financial Flexibility Index trend for International Business Machines across 37 annual periods. Check International Business Machines (IBM) cash earnings ratio to evaluate the quality of earnings relative to operating cash generation.
International Business Machines Financial Flexibility Index by Year (1989–2025)
International Business Machines financial flexibility index by year from 1989 to 2025. Year-by-year free cash flow to debt coverage for International Business Machines. For the full cash flow conversion analysis, see International Business Machines cash conversion from operations.
| Year | Flexibility Index | Free Cash Flow (USD) | Operating CF | Total Liabilities | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.12x | $14.81 Billion | $13.19 Billion | $119.14 Billion | ▼ -9.8% |
| 2024 | 0.14x | $15.13 Billion | $13.45 Billion | $109.78 Billion | ▲ +1.1% |
| 2023 | 0.14x | $15.35 Billion | $13.43 Billion | $112.63 Billion | ▲ +16.6% |
| 2022 | 0.12x | $12.29 Billion | $10.44 Billion | $105.22 Billion | ▼ -13.0% |
| 2021 | 0.13x | $15.18 Billion | $12.80 Billion | $113.00 Billion | ▼ -14.5% |
| 2020 | 0.16x | $21.24 Billion | $18.20 Billion | $135.25 Billion | ▲ +16.6% |
| 2019 | 0.13x | $17.68 Billion | $14.77 Billion | $131.20 Billion | ▼ -25.3% |
| 2018 | 0.18x | $19.21 Billion | $15.25 Billion | $106.45 Billion | ▼ -5.2% |
| 2017 | 0.19x | $20.50 Billion | $16.72 Billion | $107.63 Billion | ▼ -11.1% |
| 2016 | 0.21x | $21.23 Billion | $17.08 Billion | $99.08 Billion | ▼ -3.8% |
| 2015 | 0.22x | $21.41 Billion | $17.25 Billion | $96.07 Billion | ▲ +11.7% |
| 2014 | 0.20x | $21.05 Billion | $16.87 Billion | $105.52 Billion | ▼ -4.7% |
| 2013 | 0.21x | $21.62 Billion | $17.48 Billion | $103.29 Billion | ▼ -13.7% |
| 2012 | 0.24x | $24.30 Billion | $19.59 Billion | $100.23 Billion | ▼ -4.8% |
| 2011 | 0.25x | $24.51 Billion | $19.85 Billion | $96.20 Billion | ▼ -5.3% |
| 2010 | 0.27x | $24.30 Billion | $19.55 Billion | $90.28 Billion | ▼ -6.5% |
| 2009 | 0.29x | $24.85 Billion | $20.77 Billion | $86.27 Billion | ▲ +16.8% |
| 2008 | 0.25x | $23.70 Billion | $18.81 Billion | $96.06 Billion | ▲ +5.1% |
| 2007 | 0.23x | $21.59 Billion | $16.09 Billion | $91.96 Billion | ▼ -13.1% |
| 2006 | 0.27x | $20.18 Billion | $15.02 Billion | $74.73 Billion | ▲ +0.4% |
| 2005 | 0.27x | $19.55 Billion | $14.91 Billion | $72.65 Billion | ▲ +4.5% |
| 2004 | 0.26x | $20.46 Billion | $15.41 Billion | $79.44 Billion | ▲ +4.9% |
| 2003 | 0.25x | $18.80 Billion | $14.41 Billion | $76.59 Billion | ▼ -5.5% |
| 2002 | 0.26x | $19.14 Billion | $13.79 Billion | $73.70 Billion | ▼ -13.5% |
| 2001 | 0.30x | $19.42 Billion | $14.02 Billion | $64.70 Billion | ▲ +31.5% |
| 2000 | 0.23x | $15.46 Billion | $9.27 Billion | $67.72 Billion | ▼ -7.5% |
| 1999 | 0.25x | $16.53 Billion | $10.11 Billion | $66.98 Billion | ▲ +2.6% |
| 1998 | 0.24x | $16.04 Billion | $9.27 Billion | $66.67 Billion | ▼ -7.1% |
| 1997 | 0.26x | $15.97 Billion | $8.87 Billion | $61.68 Billion | ▼ -6.4% |
| 1996 | 0.28x | $16.45 Billion | $10.28 Billion | $59.50 Billion | ▼ -1.7% |
| 1995 | 0.28x | $16.27 Billion | $10.71 Billion | $57.87 Billion | ▼ -0.1% |
| 1994 | 0.28x | $16.23 Billion | $11.79 Billion | $57.68 Billion | ▲ +50.4% |
| 1993 | 0.19x | $11.48 Billion | $8.33 Billion | $61.38 Billion | ▼ -13.5% |
| 1992 | 0.22x | $12.78 Billion | $6.27 Billion | $59.08 Billion | ▼ -9.3% |
| 1991 | 0.24x | $13.22 Billion | $6.72 Billion | $55.47 Billion | ▼ -23.7% |
| 1990 | 0.31x | $13.98 Billion | $7.47 Billion | $44.74 Billion | ▼ -11.1% |
| 1989 | 0.35x | $13.79 Billion | $7.37 Billion | $39.23 Billion | — |