International Business Machines (IBM) — Financial Flexibility Index
International Business Machines (IBM) has a Financial Flexibility Index of 0.05x as of March 2026. Free cash flow of $5.56 Billion (operating CF $5.17 Billion minus capex $391.00 Million) represents 0% of total liabilities ($123.17 Billion). Check IBM strategic asset allocation to assess the company's strategic physical and investment asset allocation.
Financial Flexibility Index
Free Cash Flow
Total Liabilities
Capital Expenditures
International Business Machines Financial Flexibility Index (1989–2025)
Historical Financial Flexibility Index trend for International Business Machines across 37 annual periods. See IBM current assets to equity ratio to evaluate short-term liquidity relative to the company's equity base.
Annual Financial Flexibility Index for International Business Machines (1989–2025)
Year-by-year free cash flow to debt coverage for International Business Machines. For the full company profile including market capitalisation, see IBM stock market capitalisation.
| 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 | — |