Intrinsic value of International Business Machines Corporation (IBM)

[per Chepakovich valuation model]

other valuations of IBM

[per Chepakovich valuation model]  See other valuations of IBM stock

Previous Close$140.71
Intrinsic Value
Upside potential
Previous Close
$140.71

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Life of production assets, yrs
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Based on fiscal year data as of 2020-12-31 and quarterly data as of 2021-03-31.
NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.
  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2020(a)2021202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045

INCOME STATEMENT

Revenue growth rate, %-4.6NaN
Revenue, $73620NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m67461NaN
Operating income, $m6159NaN
EBITDA, $m12854NaN
Interest expense (income), $mNaN
Earnings before tax, $m4726NaN
Tax expense, $m-864NaN
Net income, $m5590NaN

BALANCE SHEET

Cash and short-term investments, $m14275NaN
Total assets, $m155971NaN
Adjusted assets (=assets-cash), $m141696NaN
Average production assets, $m83460NaN
Working capital, $m-704NaN
Total debt, $m61538NaN
Total liabilities, $m135244NaN
Total equity, $m20727NaN
Debt-to-equity ratio2.969NaN
Adjusted equity ratio0.096NaN

CASH FLOW

Net income, $m5590NaN
Depreciation, amort., depletion, $m6695NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m18197NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-2430NaN
Free cash flow, $m20627NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-704
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN