International Business Machines (IBM)
Return on total capital
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 12,263,000 | 7,509,000 | 7,514,000 | 2,372,000 | 7,021,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 32,647,000 | 27,307,000 | 22,533,000 | 21,944,000 | 18,901,000 |
| Return on total capital | 37.56% | 27.50% | 33.35% | 10.81% | 37.15% |
December 31, 2025 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $12,263,000K ÷ ($—K + $32,647,000K)
= 37.56%
Peer comparison
Dec 31, 2025
Company name
Symbol
Return on total capital
International Business Machines
IBM
37.56%
Accenture plc
ACN
33.66%
Concentrix Corporation
CNXC
-32.50%
Penguin Solutions, Inc.
PENG
9.75%