background
What it builds
IBM develops superconducting quantum systems and the Qiskit software ecosystem. This combines hardware, control and classical computing. Increasing useful computation requires error management as well as processor engineering.
Sources: IBM Research
background
Business and quantum exposure
The January 2026 report identifies the issuer as NYSE: IBM and reports software, consulting, infrastructure and financing businesses. Quantum revenue is not isolated in that report; company-wide revenue is not quantum revenue.
Sources: IBM · IBM Research
interpretation
Research questions and risks
Ask which claims are measured results and which are roadmap targets. Hardware reliability, total workload cost and separately disclosed customer economics matter. A diversified issuer's share price reflects many businesses beyond quantum.
Sources: IBM Research
Historical financial snapshot
Historical 2025 teaching snapshot, not a current financial assessment. Values below are company-wide; the scope of individual metrics differs. Review subsequent filings before drawing an investment conclusion. Stock compensation expense and weighted-average shares are not counts of newly issued shares.
Scroll across the table to see every column, including sources.
| Metric | Value | Period | Source |
|---|---|---|---|
| Revenue | USD 67.5 billion | Year ended 2025-12-31 | Issuer report |
| Cash and cash equivalents | USD 13.587 billion | At 2025-12-31 | Issuer report |
| Operating cash flow | USD +13.2 billion | Year ended 2025-12-31 | Issuer report |
| Debt, including financing debt | USD 61.3 billion | At 2025-12-31 | Issuer report |
| Weighted-average diluted shares | 948.7 million (2024: 937.2 million) | Year ended 2025-12-31 | Issuer report |
Follow the evidence
Sources and review scope
Source-linked. Editorial review: .