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Side-by-side financial comparison of IBM (IBM) and US Foods Holding Corp. (USFD). Click either name above to swap in a different company.
IBM is the larger business by last-quarter revenue ($15.9B vs $9.8B, roughly 1.6× US Foods Holding Corp.). IBM runs the higher net margin — 7.6% vs 1.9%, a 5.8% gap on every dollar of revenue. On growth, IBM posted the faster year-over-year revenue change (9.5% vs 3.3%). IBM produced more free cash flow last quarter ($2.2B vs $159.0M). Over the past eight quarters, US Foods Holding Corp.'s revenue compounded faster (4.6% CAGR vs 0.5%).
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.
US Foods Holding Corp. is an American food service distributor. It is the second-largest food service distributor in the U.S., after Sysco. The company supplies 250,000 locations including independent restaurants, chain restaurants, healthcare, hospitality, and educational institutions.
IBM vs USFD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $15.9B | $9.8B |
| Net Profit | $1.2B | $184.0M |
| Gross Margin | 56.2% | 17.6% |
| Operating Margin | — | 3.3% |
| Net Margin | 7.6% | 1.9% |
| Revenue YoY | 9.5% | 3.3% |
| Net Profit YoY | 15.3% | 178.8% |
| EPS (diluted) | $1.28 | $0.82 |
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 | — | ||
| Q4 25 | $19.7B | $9.8B | ||
| Q3 25 | $16.3B | $10.2B | ||
| Q2 25 | $17.0B | $10.1B | ||
| Q1 25 | $14.5B | $9.4B | ||
| Q4 24 | $17.6B | $9.5B | ||
| Q3 24 | $15.0B | $9.7B | ||
| Q2 24 | $15.8B | $9.7B |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $5.6B | $184.0M | ||
| Q3 25 | $1.7B | $153.0M | ||
| Q2 25 | $2.2B | $224.0M | ||
| Q1 25 | $1.1B | $115.0M | ||
| Q4 24 | $2.9B | $66.0M | ||
| Q3 24 | $-330.0M | $148.0M | ||
| Q2 24 | $1.8B | $198.0M |
| Q1 26 | 56.2% | — | ||
| Q4 25 | 60.6% | 17.6% | ||
| Q3 25 | 57.3% | 17.2% | ||
| Q2 25 | 58.8% | 17.6% | ||
| Q1 25 | 55.2% | 17.3% | ||
| Q4 24 | 59.5% | 17.6% | ||
| Q3 24 | 56.3% | 17.1% | ||
| Q2 24 | 56.8% | 17.6% |
| Q1 26 | — | — | ||
| Q4 25 | 21.0% | 3.3% | ||
| Q3 25 | 14.9% | 2.8% | ||
| Q2 25 | 15.3% | 3.7% | ||
| Q1 25 | 8.0% | 2.4% | ||
| Q4 24 | 18.8% | 3.2% | ||
| Q3 24 | -5.4% | 2.9% | ||
| Q2 24 | 14.1% | 3.6% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 28.4% | 1.9% | ||
| Q3 25 | 10.7% | 1.5% | ||
| Q2 25 | 12.9% | 2.2% | ||
| Q1 25 | 7.3% | 1.2% | ||
| Q4 24 | 16.6% | 0.7% | ||
| Q3 24 | -2.2% | 1.5% | ||
| Q2 24 | 11.6% | 2.0% |
| Q1 26 | $1.28 | — | ||
| Q4 25 | $5.90 | $0.82 | ||
| Q3 25 | $1.84 | $0.67 | ||
| Q2 25 | $2.31 | $0.96 | ||
| Q1 25 | $1.12 | $0.49 | ||
| Q4 24 | $3.11 | $0.28 | ||
| Q3 24 | $-0.36 | $0.61 | ||
| Q2 24 | $1.96 | $0.80 |
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 | $41.0M |
| Total DebtLower is stronger | $66.4B | $5.1B |
| Stockholders' EquityBook value | $33.1B | $4.3B |
| Total Assets | $156.2B | $13.9B |
| Debt / EquityLower = less leverage | 2.01× | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.8B | — | ||
| Q4 25 | $13.6B | $41.0M | ||
| Q3 25 | $11.6B | $56.0M | ||
| Q2 25 | $11.9B | $61.0M | ||
| Q1 25 | $11.0B | $101.0M | ||
| Q4 24 | $13.9B | $59.0M | ||
| Q3 24 | $13.2B | $81.0M | ||
| Q2 24 | $12.2B | $405.0M |
| Q1 26 | $66.4B | — | ||
| Q4 25 | $54.8B | $5.1B | ||
| Q3 25 | $55.2B | $4.8B | ||
| Q2 25 | $55.2B | $4.7B | ||
| Q1 25 | $56.4B | $4.7B | ||
| Q4 24 | $49.9B | $4.8B | ||
| Q3 24 | $53.0B | $4.7B | ||
| Q2 24 | $52.9B | $4.6B |
| Q1 26 | $33.1B | — | ||
| Q4 25 | $32.6B | $4.3B | ||
| Q3 25 | $27.9B | $4.5B | ||
| Q2 25 | $27.5B | $4.6B | ||
| Q1 25 | $26.9B | $4.6B | ||
| Q4 24 | $27.3B | $4.5B | ||
| Q3 24 | $24.4B | $4.6B | ||
| Q2 24 | $24.0B | $5.0B |
| Q1 26 | $156.2B | — | ||
| Q4 25 | $151.9B | $13.9B | ||
| Q3 25 | $146.3B | $14.0B | ||
| Q2 25 | $148.6B | $13.8B | ||
| Q1 25 | $145.7B | $13.7B | ||
| Q4 24 | $137.2B | $13.4B | ||
| Q3 24 | $134.3B | $13.5B | ||
| Q2 24 | $133.8B | $13.7B |
| Q1 26 | 2.01× | — | ||
| Q4 25 | 1.68× | 1.18× | ||
| Q3 25 | 1.98× | 1.08× | ||
| Q2 25 | 2.01× | 1.02× | ||
| Q1 25 | 2.10× | 1.02× | ||
| Q4 24 | 1.83× | 1.06× | ||
| Q3 24 | 2.17× | 1.01× | ||
| Q2 24 | 2.20× | 0.92× |
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 | $293.0M |
| Free Cash FlowOCF − Capex | $2.2B | $159.0M |
| FCF MarginFCF / Revenue | 13.9% | 1.6% |
| Capex IntensityCapex / Revenue | 2.4% | 1.4% |
| Cash ConversionOCF / Net Profit | 4.25× | 1.59× |
| TTM Free Cash FlowTrailing 4 quarters | $10.2B | $959.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.0B | $293.0M | ||
| Q3 25 | $3.1B | $351.0M | ||
| Q2 25 | $1.7B | $334.0M | ||
| Q1 25 | $4.4B | $391.0M | ||
| Q4 24 | $4.3B | $283.0M | ||
| Q3 24 | $2.9B | $270.0M | ||
| Q2 24 | $2.1B | $482.0M |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $3.7B | $159.0M | ||
| Q3 25 | $2.8B | $236.0M | ||
| Q2 25 | $1.5B | $257.0M | ||
| Q1 25 | $4.1B | $307.0M | ||
| Q4 24 | $4.0B | $178.0M | ||
| Q3 24 | $2.6B | $190.0M | ||
| Q2 24 | $1.8B | $413.0M |
| Q1 26 | 13.9% | — | ||
| Q4 25 | 18.6% | 1.6% | ||
| Q3 25 | 17.3% | 2.3% | ||
| Q2 25 | 8.8% | 2.5% | ||
| Q1 25 | 28.4% | 3.3% | ||
| Q4 24 | 22.9% | 1.9% | ||
| Q3 24 | 17.3% | 2.0% | ||
| Q2 24 | 11.7% | 4.3% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 1.9% | 1.4% | ||
| Q3 25 | 1.6% | 1.1% | ||
| Q2 25 | 1.2% | 0.8% | ||
| Q1 25 | 1.7% | 0.9% | ||
| Q4 24 | 1.7% | 1.1% | ||
| Q3 24 | 1.9% | 0.8% | ||
| Q2 24 | 1.4% | 0.7% |
| Q1 26 | 4.25× | — | ||
| Q4 25 | 0.72× | 1.59× | ||
| Q3 25 | 1.77× | 2.29× | ||
| Q2 25 | 0.78× | 1.49× | ||
| Q1 25 | 4.14× | 3.40× | ||
| Q4 24 | 1.49× | 4.29× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | 1.13× | 2.43× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBM
| Software | $7.1B | 44% |
| Consulting | $5.3B | 33% |
| Infrastructure | $3.3B | 21% |
| Financing | $220.0M | 1% |
USFD
| Product One | $3.5B | 36% |
| Product Two | $1.7B | 17% |
| Product Three | $1.7B | 17% |
| Product Four | $985.0M | 10% |
| Product Five | $901.0M | 9% |
| Product Six | $580.0M | 6% |
| Product Seven | $485.0M | 5% |
