IBM

International Business Machines

NYSE: IBM · TECHNOLOGY · INFORMATION TECHNOLOGY SERVICES

$272.24

-0.95% today

Updated 2026-06-12

Market cap

$309.44B

P/E ratio

29.16

P/S ratio

4.49x

EPS (TTM)

$11.29

Dividend yield

2.10%

52W range

$212 – $332

Volume

8.4M

Market cap

$309.44B

P/E ratio

29.16

P/S ratio

4.49x

EPS (TTM)

$11.29

Dividend yield

2.10%

52W range

$212 – $332

Volume

8.4M

International Business Machines (IBM) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Research-backed IBM price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.

Current price

$272.24

Today

Analyst consensus

$315.15

+15.76% · 12M

2030 Base

—

— future

NPV today

—

@ — WACC

13 analysts:

4 Buy5 Hold2 Sell

Management guidance

No specific CEO revenue targets found in available data. Latest analyst consensus projects FY2026 revenue of $71.89B (+6.44% growth) and FY2027 revenue of $75.19B (+4.59% growth). IBM management has not publicly committed to specific multi-year revenue targets, but recent strategic initiatives (Arm partnership, Confluent acquisition, ETH Zurich 10-year AI/quantum collaboration) suggest focus on AI infrastructure and enterprise software acceleration.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

IBM · International Business Machines · Revenue & price projection · 2023–2030E

Actual / 2030 target Projected revenue Base case price Bull to bear range

Bear case (2030)

—

NPV today: —

Base case (2030)

—

NPV today: —

Bull case (2030)

—

NPV today: —

WallStSmart.com

IBM financial forecast · Research-backed projections

Metric	2025	2026 (E)	2027 (E)	2028 (E)	2029 (E)	2030 (E) ★
Revenue	$67.5B	$71.9B	$75.2B	$78.7B	$82.9B	$87.5B
Revenue growth	7.6%	6.4%	4.6%	4.7%	5.3%	5.5%
Net margin	—	—	—	—	—	—
EPS	$10.76	$12.51	$13.57	$14.65	$15.88	$17.20
Diluted shares	—	—	—	—	—	—
Net debt	—	—	—	—	—	—
P/S multiple	—	2.0x	2.0x	2.0x	2.0x	2.0x
Implied price (base)	—	$943.01	$992.64	$1,017.46	$1,091.90	$1,141.54

★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.

Scenario detail · Three drivers, three outcomes

2030E driver	Bear	Base	Bull
Revenue	$87.5B	$87.5B	$87.5B
P/S multiple	1.0x	2.0x	3.0x
Diluted shares	0M	0M	0M
Net debt	—	—	—
Implied P/E ^†	—	—	—
2030 Price	$—	$—	$—
NPV @ —	$—	$—	$—

† Implied P/E: Multiples remain elevated across all three scenarios because IBM is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.

EV to per-share bridge · How we get to $— base case

IBM catalysts and risks

Growth catalysts

+ Strategic Arm partnership for dual-architecture enterprise AI hardware (announced Apr 2026)

+ Confluent acquisition completion (Mar 2026) enabling real-time data for enterprise AI

+ 10-year R&D collaboration with ETH Zurich on AI/quantum hybrid algorithms

+ Expanded FedRAMP portfolio with 11 new AI-enabled software solutions

+ Emerging AI infrastructure demand from enterprises (addressable TAM expanding 25-35% annually)

+ Quantum computing breakthroughs validating IBM's R&D investments

Key risks

- Historical revenue stagnation: 5-year CAGR of -1.7% (2019-2025 saw 27% revenue decline from peak)

- Execution risk on AI/quantum pivot; high R&D spending ($5-7B annually) may not translate to proportional revenue growth

- Competitive pressure from hyperscalers (AWS, Azure, GCP) in cloud/AI infrastructure

- Recent analyst downgrades (UBS upgraded from Sell to Hold Feb 2026) suggest limited near-term upside beyond consensus

- Macroeconomic uncertainty affecting enterprise IT spending; margin pressure visible at competitors

- High debt-to-equity ratio (1.98x) limits flexibility for aggressive M&A or R&D investment escalation

Methodology · International Business Machines 2030 stock forecast model

International Business Machines 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 13 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:

1. Share dilution	Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (-100% cumulative for IBM by 2030)
2. Net debt	EV minus net debt yields equity value; debt projected from capex cycle trajectory (— by 2030)
3. Time value	NPV calculated using — WACC (sector fallback)
4. Multiple framework	P/S compresses with scale: bear 1.0x / base 2.0x / bull 3.0x
5. Scenario design	Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently

WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.

IBM price target FAQ

How is the International Business Machines 2030 stock forecast calculated?

The IBM 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.

What is the analyst consensus on IBM stock?

13 analysts cover IBM with an average 12-month price target of $315.15. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.