International Business Machines (IBM) — Working Capital to Net Assets Ratio
International Business Machines (IBM) has a Working Capital to Net Assets ratio of -21.8% as of June 2026. Working capital of $-7.51 Billion (current assets of $28.40 Billion minus current liabilities of $35.91 Billion) is measured against net assets of $34.54 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how many days can International Business Machines fund operations to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
International Business Machines Working Capital to Net Assets (1985–2025)
This chart shows how International Business Machines's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of June 2026, the ratio stands at -21.8%, reflecting working capital of $-7.51 Billion against net assets of $34.54 Billion USD. For the complete balance sheet picture, see IBM asset base.
Annual Working Capital to Net Assets for International Business Machines (1985–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for International Business Machines from 1985 to 2025, covering 41 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check International Business Machines liquid asset ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -8.5% | $-2.80 Billion | $32.74 Billion | $35.86 Billion | $38.66 Billion | ▼ -13.4 pp |
| 2024 | 4.9% | $1.34 Billion | $27.39 Billion | $34.48 Billion | $33.14 Billion | ▲ +10.3 pp |
| 2023 | -5.4% | $-1.21 Billion | $22.61 Billion | $32.91 Billion | $34.12 Billion | ▲ +5.5 pp |
| 2022 | -10.8% | $-2.39 Billion | $22.02 Billion | $29.12 Billion | $31.50 Billion | ▲ +10.6 pp |
| 2021 | -21.5% | $-4.08 Billion | $19.00 Billion | $29.54 Billion | $33.62 Billion | ▼ -18.1 pp |
| 2020 | -3.4% | $-704.00 Million | $20.73 Billion | $39.16 Billion | $39.87 Billion | ▼ -6.8 pp |
| 2019 | 3.4% | $719.00 Million | $20.98 Billion | $38.42 Billion | $37.70 Billion | ▼ -61.1 pp |
| 2018 | 64.5% | $10.92 Billion | $16.93 Billion | $49.15 Billion | $38.23 Billion | ▼ -5.3 pp |
| 2017 | 69.8% | $12.37 Billion | $17.72 Billion | $49.73 Billion | $37.36 Billion | ▲ +28.4 pp |
| 2016 | 41.4% | $7.61 Billion | $18.39 Billion | $43.89 Billion | $36.27 Billion | ▼ -15.7 pp |
| 2015 | 57.1% | $8.23 Billion | $14.42 Billion | $42.50 Billion | $34.27 Billion | ▼ -7.8 pp |
| 2014 | 64.9% | $7.80 Billion | $12.01 Billion | $47.38 Billion | $39.58 Billion | ▲ +16.1 pp |
| 2013 | 48.8% | $11.20 Billion | $22.93 Billion | $51.35 Billion | $40.15 Billion | ▲ +18.2 pp |
| 2012 | 30.6% | $5.81 Billion | $18.98 Billion | $49.43 Billion | $43.62 Billion | ▼ -12.9 pp |
| 2011 | 43.5% | $8.80 Billion | $20.23 Billion | $50.93 Billion | $42.12 Billion | ▲ +10.9 pp |
| 2010 | 32.6% | $7.55 Billion | $23.17 Billion | $48.12 Billion | $40.56 Billion | ▼ -24.2 pp |
| 2009 | 56.8% | $12.93 Billion | $22.75 Billion | $48.94 Billion | $36.00 Billion | ▲ +8.1 pp |
| 2008 | 48.8% | $6.57 Billion | $13.46 Billion | $49.00 Billion | $42.44 Billion | ▲ +17.6 pp |
| 2007 | 31.1% | $8.87 Billion | $28.47 Billion | $53.18 Billion | $44.31 Billion | ▲ +15.1 pp |
| 2006 | 16.0% | $4.57 Billion | $28.51 Billion | $44.66 Billion | $40.09 Billion | ▼ -15.7 pp |
| 2005 | 31.8% | $10.51 Billion | $33.10 Billion | $45.66 Billion | $35.15 Billion | ▲ +7.6 pp |
| 2004 | 24.2% | $7.18 Billion | $29.75 Billion | $46.97 Billion | $39.79 Billion | ▼ -2.3 pp |
| 2003 | 26.5% | $7.38 Billion | $27.86 Billion | $45.00 Billion | $37.62 Billion | ▼ -4.7 pp |
| 2002 | 31.2% | $7.10 Billion | $22.78 Billion | $41.65 Billion | $34.55 Billion | ▲ +0.1 pp |
| 2001 | 31.1% | $7.34 Billion | $23.61 Billion | $42.46 Billion | $35.12 Billion | ▼ -5.1 pp |
| 2000 | 36.2% | $7.47 Billion | $20.62 Billion | $43.88 Billion | $36.41 Billion | ▲ +18.8 pp |
| 1999 | 17.4% | $3.58 Billion | $20.51 Billion | $43.16 Billion | $39.58 Billion | ▼ -11.0 pp |
| 1998 | 28.5% | $5.53 Billion | $19.43 Billion | $42.36 Billion | $36.83 Billion | ▼ -6.4 pp |
| 1997 | 34.9% | $6.91 Billion | $19.82 Billion | $40.42 Billion | $33.51 Billion | ▲ +3.9 pp |
| 1996 | 31.0% | $6.70 Billion | $21.63 Billion | $40.70 Billion | $34.00 Billion | ▼ -9.4 pp |
| 1995 | 40.3% | $9.04 Billion | $22.42 Billion | $40.69 Billion | $31.65 Billion | ▼ -11.4 pp |
| 1994 | 51.7% | $12.11 Billion | $23.41 Billion | $41.34 Billion | $29.23 Billion | ▲ +21.1 pp |
| 1993 | 30.7% | $6.05 Billion | $19.74 Billion | $39.20 Billion | $33.15 Billion | ▲ +20.0 pp |
| 1992 | 10.7% | $2.96 Billion | $27.62 Billion | $39.69 Billion | $36.74 Billion | ▼ -9.2 pp |
| 1991 | 19.8% | $7.34 Billion | $37.01 Billion | $40.97 Billion | $33.62 Billion | ▼ -12.0 pp |
| 1990 | 31.9% | $13.64 Billion | $42.83 Billion | $38.92 Billion | $25.28 Billion | ▼ -5.0 pp |
| 1989 | 36.8% | $14.18 Billion | $38.51 Billion | $35.88 Billion | $21.70 Billion | ▼ -8.6 pp |
| 1988 | 45.4% | $17.96 Billion | $39.51 Billion | $35.34 Billion | $17.39 Billion | ▼ -0.7 pp |
| 1987 | 46.1% | $17.64 Billion | $38.26 Billion | $31.02 Billion | $13.38 Billion | ▲ +2.5 pp |
| 1986 | 43.7% | $15.01 Billion | $34.37 Billion | $27.75 Billion | $12.74 Billion | ▼ -2.1 pp |
| 1985 | 45.8% | $14.64 Billion | $31.99 Billion | $26.07 Billion | $11.43 Billion | — |