International Business Machines (IBM)
Return on total capital
| Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 12,266,000 | 11,374,000 | 8,079,000 | 7,616,000 | 7,509,000 | 7,943,000 | 10,601,000 | 10,378,000 | 10,297,000 | 9,758,000 | 3,267,000 | 2,863,000 | 2,372,000 | 1,919,000 | 7,228,000 | 6,402,000 | 5,992,000 | 4,426,000 | 5,473,000 | 6,174,000 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 32,648,000 | 27,905,000 | 27,509,000 | 26,880,000 | 27,307,000 | 24,448,000 | 24,026,000 | 23,261,000 | 22,533,000 | 23,081,000 | 22,201,000 | 21,604,000 | 21,944,000 | 20,076,000 | 19,409,000 | 19,050,000 | 18,901,000 | 22,228,000 | 21,942,000 | 21,389,000 |
| Return on total capital | 37.57% | 40.76% | 29.37% | 28.33% | 27.50% | 32.49% | 44.12% | 44.62% | 45.70% | 42.28% | 14.72% | 13.25% | 10.81% | 9.56% | 37.24% | 33.61% | 31.70% | 19.91% | 24.94% | 28.87% |
December 31, 2025 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $12,266,000K ÷ ($—K + $32,648,000K)
= 37.57%
Peer comparison
Dec 31, 2025
Company name
Symbol
Return on total capital
International Business Machines
IBM
37.57%
Accenture plc
ACN
33.66%
Concentrix Corporation
CNXC
-32.50%
Penguin Solutions, Inc.
PENG
9.75%