Stock Analysis on Net

International Business Machines Corp. (NYSE:IBM)

Analysis of Liquidity Ratios
Quarterly Data

Microsoft Excel

Liquidity Ratios (Summary)

International Business Machines Corp., liquidity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Current ratio 1.04 1.06 1.12 1.13 0.96 0.91 1.06 1.16 0.92 0.95 0.88 0.92 0.88 0.84 0.84 0.93 0.98 1.05 1.04 0.96
Quick ratio 0.90 0.89 0.95 0.98 0.82 0.74 0.90 0.99 0.76 0.75 0.68 0.73 0.69 0.64 0.66 0.75 0.83 0.88 0.88 0.80
Cash ratio 0.45 0.48 0.54 0.60 0.39 0.36 0.50 0.57 0.28 0.32 0.24 0.32 0.22 0.23 0.22 0.31 0.36 0.41 0.37 0.30

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. International Business Machines Corp. current ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. International Business Machines Corp. quick ratio deteriorated from Q2 2024 to Q3 2024 but then slightly improved from Q3 2024 to Q4 2024.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. International Business Machines Corp. cash ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Current Ratio

International Business Machines Corp., current ratio calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Current assets 34,482 30,543 33,299 36,663 32,908 27,705 34,458 35,982 29,118 28,999 27,896 31,330 29,539 29,967 30,774 34,038 39,165 39,845 39,953 38,931
Current liabilities 33,142 28,853 29,648 32,397 34,122 30,606 32,513 30,993 31,505 30,466 31,844 34,056 33,619 35,832 36,616 36,542 39,869 37,993 38,442 40,673
Liquidity Ratio
Current ratio1 1.04 1.06 1.12 1.13 0.96 0.91 1.06 1.16 0.92 0.95 0.88 0.92 0.88 0.84 0.84 0.93 0.98 1.05 1.04 0.96
Benchmarks
Current Ratio, Competitors2
Accenture PLC 1.10 1.16 1.26 1.33 1.30 1.37 1.29 1.26 1.23 1.27 1.23 1.22 1.25 1.42 1.39 1.45 1.40 1.37 1.38 1.39
Adobe Inc. 1.07 1.11 1.16 1.05 1.34 1.25 1.16 1.12 1.11 1.14 1.07 1.04 1.25 1.39 1.31 1.27 1.48 1.44 1.29 1.23
Cadence Design Systems Inc. 2.93 2.45 1.43 1.32 1.24 1.44 1.37 1.44 1.27 1.33 1.59 1.81 1.77 1.70 1.57 1.70 1.86 1.55 1.42 1.38
CrowdStrike Holdings Inc. 1.76 1.74 1.82 1.78 1.73 1.76 1.80 1.83 1.83 1.90 1.98 2.07 2.65 1.91 2.18 2.25 2.38 2.53 2.94 1.03
Intuit Inc. 1.29 1.50 1.17 1.25 1.47 1.51 1.23 1.37 1.39 1.63 1.18 2.10 1.94 1.96 1.53 3.09 2.26 1.79 1.67 1.80
Microsoft Corp. 1.27 1.24 1.22 1.66 1.77 1.91 1.93 1.84 1.78 1.99 2.25 2.16 2.08 2.29 2.58 2.53 2.52 2.90 2.80 2.85
Oracle Corp. 0.72 0.85 0.79 0.87 0.91 0.82 0.65 0.60 1.62 1.52 1.65 2.04 2.30 2.16 2.17 2.66 3.03 2.12 2.37 2.25
Palantir Technologies Inc. 5.96 5.67 5.92 5.91 5.55 5.53 5.22 5.41 5.17 4.28 4.36 4.38 4.34 4.13 3.90 3.88
Palo Alto Networks Inc. 0.89 0.84 0.83 0.86 0.78 0.74 0.64 0.70 0.77 0.74 0.66 0.68 0.91 1.38 0.98 1.63 1.91 1.29 1.78 1.78
Salesforce Inc. 1.09 1.04 1.02 1.02 1.02 1.05 1.06 1.03 1.05 1.06 0.93 1.33 1.23 1.22 1.15 1.15 1.08 1.05 0.97 0.96
ServiceNow Inc. 1.10 1.13 1.12 1.05 1.06 1.08 1.14 1.17 1.11 1.24 1.12 1.12 1.05 1.13 1.08 1.23 1.21 1.40 1.17 1.03
Synopsys Inc. 2.44 2.02 1.86 1.29 1.15 1.20 1.15 1.11 1.09 1.14 1.25 1.19 1.16 1.18 1.19 1.10 1.19 1.06 0.95 0.95
Workday Inc. 1.97 2.13 2.00 1.95 1.75 1.87 1.61 1.56 1.03 1.10 1.04 0.93 1.12 1.09 1.45 1.25 1.04 1.19 0.81 1.09

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Current ratio = Current assets ÷ Current liabilities
= 34,482 ÷ 33,142 = 1.04

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. International Business Machines Corp. current ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.

Quick Ratio

International Business Machines Corp., quick ratio calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Cash and cash equivalents 13,947 13,197 12,210 14,603 13,068 7,257 9,394 9,337 7,886 7,816 7,034 9,934 6,650 7,455 7,350 10,531 13,212 14,393 12,041 11,218
Restricted cash 214 17 2,268 162 21 19 31 198 103 159 220 286 307 352 215 142 463 160 147 152
Marketable securities 644 505 1,481 4,512 373 3,721 6,904 8,057 852 1,753 524 550 600 600 600 600 600 1,200 2,063 647
Notes and accounts receivable, trade, net of allowances 6,804 5,390 5,769 6,041 7,214 5,330 5,673 5,757 6,541 5,526 5,867 5,963 6,754 6,609 6,827 6,458 7,132 6,099 6,543 6,927
Short-term financing receivables, held for investment, net of allowances 6,259 5,256 5,075 4,877 6,102 5,032 5,564 6,057 6,851 6,280 6,619 6,759 7,221 7,161 8,194 8,822 10,892 10,848 11,967 12,126
Short-term financing receivables, held for sale 900 509 723 644 692 593 865 605 939 395 614 410 793
Other accounts receivable, net of allowances 947 928 757 760 640 842 838 812 817 902 909 1,003 1,002 899 802 787 714 923 937 1,616
Total quick assets 29,715 25,802 28,283 31,599 28,110 22,794 29,269 30,823 23,989 22,831 21,787 24,905 23,327 23,076 23,988 27,340 33,013 33,623 33,698 32,686
 
Current liabilities 33,142 28,853 29,648 32,397 34,122 30,606 32,513 30,993 31,505 30,466 31,844 34,056 33,619 35,832 36,616 36,542 39,869 37,993 38,442 40,673
Liquidity Ratio
Quick ratio1 0.90 0.89 0.95 0.98 0.82 0.74 0.90 0.99 0.76 0.75 0.68 0.73 0.69 0.64 0.66 0.75 0.83 0.88 0.88 0.80
Benchmarks
Quick Ratio, Competitors2
Accenture PLC 0.98 1.03 1.13 1.18 1.18 1.24 1.15 1.12 1.12 1.14 1.10 1.10 1.14 1.31 1.27 1.34 1.29 1.25 1.25 1.28
Adobe Inc. 0.95 0.97 1.02 0.93 1.22 1.12 1.03 1.00 1.00 1.01 0.93 0.89 1.11 1.25 1.18 1.12 1.34 1.28 1.11 1.06
Cadence Design Systems Inc. 2.43 2.00 1.06 0.96 0.94 1.10 1.10 1.19 1.02 1.13 1.36 1.56 1.47 1.48 1.33 1.43 1.59 1.44 1.30 1.22
CrowdStrike Holdings Inc. 1.60 1.59 1.66 1.63 1.58 1.62 1.66 1.68 1.68 1.76 1.81 1.93 2.50 1.76 2.01 2.07 2.18 2.36 2.76 0.87
Intuit Inc. 0.71 1.00 0.55 0.66 1.25 1.29 1.02 1.10 1.17 1.29 0.78 1.71 1.60 1.72 1.20 2.74 2.04 1.54 1.30 1.34
Microsoft Corp. 1.06 1.05 1.02 1.45 1.54 1.66 1.66 1.59 1.57 1.77 2.05 1.96 1.90 2.10 2.36 2.30 2.33 2.73 2.65 2.68
Oracle Corp. 0.59 0.69 0.63 0.73 0.74 0.65 0.50 0.49 1.43 1.34 1.45 1.90 2.15 2.00 2.02 2.50 2.83 1.91 2.16 2.09
Palantir Technologies Inc. 5.83 5.55 5.77 5.80 5.41 5.39 5.08 5.25 4.92 4.08 4.09 4.15 4.11 3.90 3.79 3.73
Palo Alto Networks Inc. 0.82 0.78 0.78 0.81 0.72 0.66 0.58 0.65 0.73 0.70 0.62 0.64 0.86 1.23 0.88 1.48 1.78 1.16 1.64 1.64
Salesforce Inc. 0.96 0.86 0.86 0.86 0.90 0.89 0.91 0.88 0.93 0.89 0.79 1.19 1.11 1.05 0.98 1.00 0.95 0.87 0.82 0.81
ServiceNow Inc. 1.02 1.05 1.03 0.98 1.00 1.01 1.08 1.11 1.06 1.17 1.06 1.06 1.01 1.07 1.03 1.19 1.16 1.33 1.11 0.98
Synopsys Inc. 1.88 1.10 0.99 0.88 0.85 0.92 0.90 0.86 0.85 0.87 0.99 0.93 0.89 0.90 0.92 0.83 0.94 0.82 0.73 0.73
Workday Inc. 1.87 2.01 1.90 1.83 1.66 1.75 1.52 1.47 0.96 1.03 0.98 0.86 1.07 1.02 1.35 1.15 0.95 1.09 0.74 1.00

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 29,715 ÷ 33,142 = 0.90

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. International Business Machines Corp. quick ratio deteriorated from Q2 2024 to Q3 2024 but then slightly improved from Q3 2024 to Q4 2024.

Cash Ratio

International Business Machines Corp., cash ratio calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Selected Financial Data (US$ in millions)
Cash and cash equivalents 13,947 13,197 12,210 14,603 13,068 7,257 9,394 9,337 7,886 7,816 7,034 9,934 6,650 7,455 7,350 10,531 13,212 14,393 12,041 11,218
Restricted cash 214 17 2,268 162 21 19 31 198 103 159 220 286 307 352 215 142 463 160 147 152
Marketable securities 644 505 1,481 4,512 373 3,721 6,904 8,057 852 1,753 524 550 600 600 600 600 600 1,200 2,063 647
Total cash assets 14,805 13,719 15,959 19,277 13,462 10,997 16,329 17,592 8,841 9,728 7,778 10,770 7,557 8,407 8,165 11,273 14,275 15,753 14,251 12,017
 
Current liabilities 33,142 28,853 29,648 32,397 34,122 30,606 32,513 30,993 31,505 30,466 31,844 34,056 33,619 35,832 36,616 36,542 39,869 37,993 38,442 40,673
Liquidity Ratio
Cash ratio1 0.45 0.48 0.54 0.60 0.39 0.36 0.50 0.57 0.28 0.32 0.24 0.32 0.22 0.23 0.22 0.31 0.36 0.41 0.37 0.30
Benchmarks
Cash Ratio, Competitors2
Accenture PLC 0.26 0.30 0.32 0.41 0.50 0.50 0.38 0.36 0.45 0.41 0.35 0.37 0.52 0.67 0.65 0.68 0.67 0.54 0.49 0.52
Adobe Inc. 0.75 0.78 0.85 0.72 0.95 0.90 0.82 0.76 0.75 0.77 0.72 0.65 0.84 1.00 0.94 0.85 1.09 1.03 0.84 0.80
Cadence Design Systems Inc. 1.93 1.66 0.69 0.69 0.63 0.76 0.73 0.78 0.65 0.82 0.99 1.18 1.12 1.12 0.91 0.94 1.17 1.17 1.03 0.93
CrowdStrike Holdings Inc. 1.29 1.35 1.42 1.41 1.28 1.36 1.41 1.44 1.42 1.54 1.57 1.71 2.22 1.51 1.76 1.81 1.85 2.01 2.42 0.58
Intuit Inc. 0.54 0.76 0.24 0.45 0.97 0.97 0.54 0.82 0.90 1.09 0.48 1.52 1.46 1.52 1.02 2.69 2.00 1.46 1.03 1.28
Microsoft Corp. 0.60 0.68 0.67 1.15 1.07 1.22 1.22 1.23 1.10 1.35 1.62 1.62 1.47 1.74 1.96 1.97 1.89 2.34 2.25 2.35
Oracle Corp. 0.34 0.40 0.36 0.48 0.44 0.38 0.27 0.32 1.12 1.12 1.21 1.70 1.93 1.77 1.81 2.26 2.50 1.64 1.88 1.89
Palantir Technologies Inc. 5.25 4.84 4.96 5.15 4.93 4.77 4.53 4.83 4.48 3.59 3.69 3.77 3.83 3.64 3.43 3.50
Palo Alto Networks Inc. 0.34 0.41 0.43 0.52 0.31 0.46 0.39 0.46 0.44 0.50 0.45 0.48 0.57 0.98 0.72 1.22 1.39 0.87 1.40 1.39
Salesforce Inc. 0.53 0.61 0.60 0.65 0.48 0.65 0.67 0.68 0.48 0.62 0.55 0.98 0.67 0.78 0.72 0.76 0.54 0.62 0.59 0.61
ServiceNow Inc. 0.69 0.78 0.75 0.73 0.66 0.73 0.82 0.85 0.71 0.89 0.81 0.83 0.67 0.80 0.76 0.94 0.83 1.04 0.82 0.68
Synopsys Inc. 1.53 0.79 0.66 0.48 0.53 0.67 0.62 0.48 0.56 0.60 0.70 0.51 0.65 0.66 0.65 0.47 0.58 0.51 0.42 0.34
Workday Inc. 1.55 1.71 1.59 1.56 1.32 1.48 1.30 1.31 0.72 0.83 0.77 0.71 0.83 0.81 1.08 0.94 0.65 0.84 0.56 0.77

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Q4 2024 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 14,805 ÷ 33,142 = 0.45

2 Click competitor name to see calculations.

Liquidity ratio Description The company
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. International Business Machines Corp. cash ratio deteriorated from Q2 2024 to Q3 2024 and from Q3 2024 to Q4 2024.