International Business Machines Free Cash Flow Generation Index
International Business Machines free cash flow generation index. International Business Machines (IBM) has a Free Cash Flow Generation Index of 0.91x as of June 2026. Free cash flow of $2.37 Billion represents 1% of operating cash flow ($2.60 Billion).
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Free Cash Flow Generation Index of International Business Machines (1989–2025)
Free cash flow generation index of International Business Machines from 1989 to 2025. Historical FCF Generation Index trend for International Business Machines across 37 annual periods. See IBM financial flexibility index to measure the company's free cash flow as a share of total liabilities.
International Business Machines Free Cash Flow Generation Index by Year (1989–2025)
International Business Machines free cash flow generation index by year from 1989 to 2025. Year-by-year Free Cash Flow Generation Index for International Business Machines. For the full cash flow conversion analysis, see International Business Machines (IBM) cash flow conversion.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.88x | $11.57 Billion | $13.19 Billion | $1.62 Billion | ▲ +0.3% |
| 2024 | 0.87x | $11.76 Billion | $13.45 Billion | $1.69 Billion | ▼ -12.5% |
| 2023 | 1.00x | $13.43 Billion | $13.43 Billion | $1.92 Billion | ▲ +21.7% |
| 2022 | 0.82x | $8.57 Billion | $10.44 Billion | $1.86 Billion | ▲ +1.0% |
| 2021 | 0.81x | $10.41 Billion | $12.80 Billion | $2.38 Billion | ▼ -2.3% |
| 2020 | 0.83x | $15.15 Billion | $18.20 Billion | $3.04 Billion | ▲ +3.7% |
| 2019 | 0.80x | $11.86 Billion | $14.77 Billion | $2.91 Billion | ▲ +8.5% |
| 2018 | 0.74x | $11.28 Billion | $15.25 Billion | $3.96 Billion | ▼ -4.4% |
| 2017 | 0.77x | $12.95 Billion | $16.72 Billion | $3.77 Billion | ▲ +2.3% |
| 2016 | 0.76x | $12.93 Billion | $17.08 Billion | $4.15 Billion | ▼ -0.3% |
| 2015 | 0.76x | $13.10 Billion | $17.25 Billion | $4.15 Billion | ▲ +1.0% |
| 2014 | 0.75x | $12.69 Billion | $16.87 Billion | $4.18 Billion | ▼ -1.5% |
| 2013 | 0.76x | $13.35 Billion | $17.48 Billion | $4.14 Billion | ▲ +0.5% |
| 2012 | 0.76x | $14.87 Billion | $19.59 Billion | $4.72 Billion | ▼ -0.7% |
| 2011 | 0.76x | $15.18 Billion | $19.85 Billion | $4.67 Billion | ▲ +1.1% |
| 2010 | 0.76x | $14.79 Billion | $19.55 Billion | $4.75 Billion | ▼ -5.8% |
| 2009 | 0.80x | $16.70 Billion | $20.77 Billion | $4.08 Billion | ▲ +8.6% |
| 2008 | 0.74x | $13.93 Billion | $18.81 Billion | $4.89 Billion | ▲ +12.5% |
| 2007 | 0.66x | $10.58 Billion | $16.09 Billion | $5.50 Billion | ▲ +0.3% |
| 2006 | 0.66x | $9.85 Billion | $15.02 Billion | $5.17 Billion | ▼ -4.8% |
| 2005 | 0.69x | $10.28 Billion | $14.91 Billion | $4.63 Billion | ▲ +2.6% |
| 2004 | 0.67x | $10.35 Billion | $15.41 Billion | $5.06 Billion | ▼ -3.3% |
| 2003 | 0.70x | $10.01 Billion | $14.41 Billion | $4.39 Billion | ▲ +13.6% |
| 2002 | 0.61x | $8.44 Billion | $13.79 Billion | $5.35 Billion | ▼ -0.5% |
| 2001 | 0.61x | $8.62 Billion | $14.02 Billion | $5.40 Billion | ▲ +84.4% |
| 2000 | 0.33x | $3.09 Billion | $9.27 Billion | $6.18 Billion | ▼ -8.6% |
| 1999 | 0.36x | $3.69 Billion | $10.11 Billion | $6.42 Billion | ▲ +35.1% |
| 1998 | 0.27x | $2.50 Billion | $9.27 Billion | $6.77 Billion | ▲ +36.1% |
| 1997 | 0.20x | $1.76 Billion | $8.87 Billion | $7.11 Billion | ▼ -50.3% |
| 1996 | 0.40x | $4.10 Billion | $10.28 Billion | $6.18 Billion | ▼ -16.9% |
| 1995 | 0.48x | $5.14 Billion | $10.71 Billion | $5.57 Billion | ▼ -23.0% |
| 1994 | 0.62x | $7.35 Billion | $11.79 Billion | $4.44 Billion | ▲ +0.4% |
| 1993 | 0.62x | $5.17 Billion | $8.33 Billion | $3.15 Billion | ▲ +1802.0% |
| 1992 | -0.04x | $-229.00 Million | $6.27 Billion | $6.50 Billion | ▼ -207.7% |
| 1991 | 0.03x | $228.00 Million | $6.72 Billion | $6.50 Billion | ▼ -73.7% |
| 1990 | 0.13x | $963.00 Million | $7.47 Billion | $6.51 Billion | ▼ -0.8% |
| 1989 | 0.13x | $958.00 Million | $7.37 Billion | $6.41 Billion | — |