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IBM · CIK 0000051143 · FY2025 live · 2025-12-31

INTERNATIONAL BUSINESS MACHINES CORP

GreySEC 10-KClassic ZTechnology58th percentile in Technology · 226 names

View as

Model

Classic Z

FY2025

2.03

Zone

Grey

vs FY2024

−0.27

Market DD

—

1y PD

—

Meridian Rank

51.47

0–100 · Classic Z tape · not a PD

  • Book standing

    65

  • Year change

    24

  • Market PD

    —

  • O-score

    52

Events on this name

Same published rows as Today. Not a live recompute.

  • APPROACHING DISTRESS

    watch · 42

    • liveZ: 2.3006490122790915 → 2.030270383012335
    • cut: — → 1.8

2.03

Z″ 3.55

−21.83.08+

Score 2.03 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

FY2016SEC 10-K printsFY2025 · 2.03

Classic Z factor contributions

  • X1 Working capital / assets

    Short-term liquidity versus the size of the balance sheet.

    −0.01
    1.2 × = −0.01

  • X2 Retained earnings / assets

    Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.

    1.02
    1.4 × = 1.43

  • X3 EBIT / assets

    Operating return on assets. Highest weight in the original model.

    0.00
    3.3 × = 0.00

  • X4 Book equity / liabilities

    Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.

    0.27
    0.6 × = 0.16

  • X5 Sales / assets

    Asset turnover — how much revenue the asset base supports.

    0.44
    1 × = 0.44

Five-year path

Z plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 5 annual filings.

Overview

rule-v1

INTERNATIONAL BUSINESS MACHINES CORP is on classic Z at 2.03 (grey) for FY2025, from an SEC 10-K. Retained earnings / assets is the line that sets the print. Versus FY2024 the live print is still grey (−0.27 from 2.30). No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Grey; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 58th percentile in Technology.

KPI widgets

Current assets

$36.9B

Total assets

$151.9B

Current liabilities

$38.7B

Total liabilities

$119.1B

Working capital

−$1.7B

Retained earnings

$155.6B

EBIT

$0

Total sales

$67.5B

Book equity

$32.6B

Accession 0000051143-26-000010. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.