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INTERNATIONAL BUSINESS MACHINES CORP

NYSE: IBM·Armonk, New York·

Price
$225.62
Base IV
$142.84
Your value
$142.84
-36.7%

Valuation snapshot

Above bull caseOut of date
$225.62
price, off scale
$142.84
base IV/share
Bear $81.09Bull $219.01

Price is above even the bull case. Price as of Oct 2, 2026 · Valuation Aug 16, 2026.

Researched bygpt-5.6-sol

Track record

Reported financials are not available yet.

Why the gap?

At $225.62 the market is pricing INTERNATIONAL BUSINESS MACHINES CORP as if revenue grows 12.2% a year. This valuation assumes it grows 3.9% a year. That single disagreement accounts for most of the distance between the two numbers — which makes it the first thing worth auditing.

Implied by price

+12.2%

revenue growth a year, holding everything else researched

Assumed here

+3.9%

researched base case, grounded in filings and guidance

Or, growth held

27.1%

operating margin reproduces the price, vs 19.0% assumed

Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.

Your valuation

Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.

  • 01 Revenue growth4.5%
  • 02 Operating margin19.0%
  • 03 Risk and beta0.72
  • 04 Long-run growth2.0%
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What drives the base case

All three cases →

IBM's strong prior-year growth slowed in the latest quarter, but management still expects a healthier full-year pace. Red Hat, Data and distributed systems provide growth while mature software, Consulting and mainframes limit the upside. A growing Software mix and company-wide productivity keep profitability near its recent adjusted level.

What shapes the assumptions

No structured value drivers are attached to this valuation yet.

How confident is this estimate?

Quality checks
53/100Moderate

Some of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.

  • Scenario dispersion5.2
  • Terminal-value dependency0.0
  • Historical stability8.3
  • Margin predictability—

Why the number moved

No prior valuation bridge is available yet. Future recalculations will explain what moved.

Explore StockValuer's full research

All cases, evidence, value drivers, sensitivity, quality checks, and calculation detail.

Financials

Reported quarters with derived margins, cash flow, and net cash.

Methodology

How reported facts, researched judgments and deterministic math are kept apart.

Base estimate

$142.84 -36.7%

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