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Side-by-side financial comparison of IBM (IBM) and Nike, Inc. (NKE). Click either name above to swap in a different company.
IBM is the larger business by last-quarter revenue ($15.9B vs $11.3B, roughly 1.4× Nike, Inc.). IBM runs the higher net margin — 7.6% vs 4.6%, a 3.0% gap on every dollar of revenue. On growth, IBM posted the faster year-over-year revenue change (9.7% vs 0.1%). Over the past eight quarters, IBM's revenue compounded faster (0.4% CAGR vs -5.4%).
International Business Machines Corporation, doing business as IBM, is an American multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is a publicly traded company and one of the 30 companies in the Dow Jones Industrial Average. IBM is the largest industrial research organization in the world, with 19 research facilities across a dozen countries; for 29 consecutive years, from 1993 to 2021, it held the record for most annual U.S.
Nike often refers to:Nike, Inc., a major American producer of athletic shoes, apparel, and sports equipment Nike (mythology), a Greek goddess who personifies victory
IBM vs NKE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.9B | $11.3B |
| Net Profit | $1.2B | $520.0M |
| Gross Margin | 56.3% | 40.2% |
| Operating Margin | — | — |
| Net Margin | 7.6% | 4.6% |
| Revenue YoY | 9.7% | 0.1% |
| Net Profit YoY | 15.3% | -34.5% |
| EPS (diluted) | $1.28 | $0.35 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $15.9B | $11.3B | ||
| Q4 25 | $19.7B | $12.4B | ||
| Q3 25 | $16.3B | $11.7B | ||
| Q2 25 | $17.0B | $11.1B | ||
| Q1 25 | $14.5B | $11.3B | ||
| Q4 24 | $17.6B | $12.4B | ||
| Q3 24 | $15.0B | $11.6B | ||
| Q2 24 | $15.8B | $12.6B |
| Q1 26 | $1.2B | $520.0M | ||
| Q4 25 | $5.6B | $792.0M | ||
| Q3 25 | $1.7B | $727.0M | ||
| Q2 25 | $2.2B | $211.0M | ||
| Q1 25 | $1.1B | $794.0M | ||
| Q4 24 | $2.9B | $1.2B | ||
| Q3 24 | $-330.0M | $1.1B | ||
| Q2 24 | $1.8B | $1.5B |
| Q1 26 | 56.3% | 40.2% | ||
| Q4 25 | 60.6% | 40.6% | ||
| Q3 25 | 57.3% | 42.2% | ||
| Q2 25 | 58.8% | 40.3% | ||
| Q1 25 | 55.2% | 41.5% | ||
| Q4 24 | 59.5% | 43.6% | ||
| Q3 24 | 56.3% | 45.4% | ||
| Q2 24 | 56.8% | 44.7% |
| Q1 26 | — | — | ||
| Q4 25 | 21.0% | — | ||
| Q3 25 | 14.9% | — | ||
| Q2 25 | 15.3% | 2.9% | ||
| Q1 25 | 8.0% | 7.5% | ||
| Q4 24 | 18.8% | 11.5% | ||
| Q3 24 | -5.4% | 11.3% | ||
| Q2 24 | 14.1% | 13.7% |
| Q1 26 | 7.6% | 4.6% | ||
| Q4 25 | 28.4% | 6.4% | ||
| Q3 25 | 10.7% | 6.2% | ||
| Q2 25 | 12.9% | 1.9% | ||
| Q1 25 | 7.3% | 7.0% | ||
| Q4 24 | 16.6% | 9.4% | ||
| Q3 24 | -2.2% | 9.1% | ||
| Q2 24 | 11.6% | 11.9% |
| Q1 26 | $1.28 | $0.35 | ||
| Q4 25 | $5.90 | $0.53 | ||
| Q3 25 | $1.84 | $0.49 | ||
| Q2 25 | $2.31 | $0.14 | ||
| Q1 25 | $1.12 | $0.54 | ||
| Q4 24 | $3.11 | $0.78 | ||
| Q3 24 | $-0.36 | $0.70 | ||
| Q2 24 | $1.96 | $0.99 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.8B | $8.1B |
| Total DebtLower is stronger | $66.4B | $8.0B |
| Stockholders' EquityBook value | $33.1B | $14.1B |
| Total Assets | $156.2B | $37.1B |
| Debt / EquityLower = less leverage | 2.01× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.8B | $8.1B | ||
| Q4 25 | $13.6B | $7.0B | ||
| Q3 25 | $11.6B | $7.0B | ||
| Q2 25 | $11.9B | $7.5B | ||
| Q1 25 | $11.0B | $8.6B | ||
| Q4 24 | $13.9B | $8.0B | ||
| Q3 24 | $13.2B | $8.5B | ||
| Q2 24 | $12.2B | $9.9B |
| Q1 26 | $66.4B | $8.0B | ||
| Q4 25 | $54.8B | — | ||
| Q3 25 | $55.2B | — | ||
| Q2 25 | $55.2B | $8.0B | ||
| Q1 25 | $56.4B | — | ||
| Q4 24 | $49.9B | — | ||
| Q3 24 | $53.0B | — | ||
| Q2 24 | $52.9B | $8.9B |
| Q1 26 | $33.1B | $14.1B | ||
| Q4 25 | $32.6B | $14.1B | ||
| Q3 25 | $27.9B | $13.5B | ||
| Q2 25 | $27.5B | $13.2B | ||
| Q1 25 | $26.9B | $14.0B | ||
| Q4 24 | $27.3B | $14.0B | ||
| Q3 24 | $24.4B | $13.9B | ||
| Q2 24 | $24.0B | $14.4B |
| Q1 26 | $156.2B | $37.1B | ||
| Q4 25 | $151.9B | $37.8B | ||
| Q3 25 | $146.3B | $37.3B | ||
| Q2 25 | $148.6B | $36.6B | ||
| Q1 25 | $145.7B | $37.8B | ||
| Q4 24 | $137.2B | $38.0B | ||
| Q3 24 | $134.3B | $37.9B | ||
| Q2 24 | $133.8B | $38.1B |
| Q1 26 | 2.01× | 0.57× | ||
| Q4 25 | 1.68× | — | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 2.01× | 0.60× | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.20× | 0.62× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.2B | — |
| Free Cash FlowOCF − Capex | $2.2B | — |
| FCF MarginFCF / Revenue | 14.0% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | 4.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $10.2B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.0B | $579.0M | ||
| Q3 25 | $3.1B | $222.0M | ||
| Q2 25 | $1.7B | $463.0M | ||
| Q1 25 | $4.4B | $1.8B | ||
| Q4 24 | $4.3B | $1.0B | ||
| Q3 24 | $2.9B | $394.0M | ||
| Q2 24 | $2.1B | $2.6B |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $3.7B | $386.0M | ||
| Q3 25 | $2.8B | $15.0M | ||
| Q2 25 | $1.5B | $363.0M | ||
| Q1 25 | $4.1B | $1.7B | ||
| Q4 24 | $4.0B | $920.0M | ||
| Q3 24 | $2.6B | $274.0M | ||
| Q2 24 | $1.8B | $2.4B |
| Q1 26 | 14.0% | — | ||
| Q4 25 | 18.6% | 3.1% | ||
| Q3 25 | 17.3% | 0.1% | ||
| Q2 25 | 8.8% | 3.3% | ||
| Q1 25 | 28.4% | 15.2% | ||
| Q4 24 | 22.9% | 7.4% | ||
| Q3 24 | 17.3% | 2.4% | ||
| Q2 24 | 11.7% | 19.1% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 1.9% | 1.6% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 1.2% | 0.9% | ||
| Q1 25 | 1.7% | 0.7% | ||
| Q4 24 | 1.7% | 1.0% | ||
| Q3 24 | 1.9% | 1.0% | ||
| Q2 24 | 1.4% | 1.7% |
| Q1 26 | 4.25× | — | ||
| Q4 25 | 0.72× | 0.73× | ||
| Q3 25 | 1.77× | 0.31× | ||
| Q2 25 | 0.78× | 2.19× | ||
| Q1 25 | 4.14× | 2.26× | ||
| Q4 24 | 1.49× | 0.90× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | 1.13× | 1.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBM
| Software | $7.1B | 45% |
| Consulting | $5.3B | 33% |
| Infrastructure | $3.3B | 21% |
| Financing | $200.0M | 1% |
NKE
Segment breakdown not available.
