{
  "slug": "international-business-machines-corporation",
  "symbol": "IBM",
  "name": "International Business Machines",
  "fiscalYearEnd": "2025-12-31",
  "filing": {
    "accession": "0000051143-26-000010",
    "form": "10-K",
    "filed": "2026-02-24",
    "url": "https://www.sec.gov/Archives/edgar/data/51143/000005114326000010/ibm-20251231.htm"
  },
  "model": "claude-haiku-5-5",
  "promptVersion": "2026-10-31.2",
  "generatedAt": "2026-10-31T20:11:46.372783+00:00",
  "segments": {
    "currency": "USD",
    "asOf": "2025-12-31",
    "total": 67535000000.0,
    "internal": null,
    "rows": [
      {
        "name": "Software",
        "revenue": 29962000000.0,
        "share": 44.4
      },
      {
        "name": "Consulting",
        "revenue": 21055000000.0,
        "share": 31.2
      },
      {
        "name": "Infrastructure",
        "revenue": 15718000000.0,
        "share": 23.3
      },
      {
        "name": "Financing",
        "revenue": 737000000.0,
        "share": 1.1
      }
    ]
  },
  "sections": {
    "businessModel": [
      {
        "de": "Das Segment Financing bietet Kunden- und Unternehmensfinanzierung an, die Kunden beim Kauf von Hardware, Software und Dienstleistungen hilft.",
        "en": "IBM's Financing segment offers client and commercial financing, which helps clients buy hardware, software and services.",
        "quote": "Financing provides client and commercial financing, facilitating IBM clients’ acquisition of hardware, software and services."
      },
      {
        "de": "Die Hybrid-Cloud- und KI-Plattformen des Unternehmens ermöglichen Kunden, digitale und KI-Transformationen über ihre Anwendungen, Daten und Umgebungen hinweg umzusetzen.",
        "en": "The company's hybrid cloud and AI platforms let clients carry out digital and AI transformations across their applications, data and environments.",
        "quote": "Our hybrid cloud and AI platforms allow clients to realize their digital and AI transformations across the applications, data, and environments in which they operate."
      },
      {
        "de": "Consulting verbindet Strategie, Experience Design, Technologie und Betriebsexpertise branchenübergreifend, um Transformationen für Kunden umzusetzen.",
        "en": "Consulting combines strategy, experience design, technology and operations expertise across industries to deliver transformation for clients.",
        "quote": "Consulting integrates strategy, experience design, technology and operations expertise by domain across industries to deliver transformation for clients."
      },
      {
        "de": "IBM sieht sich im wachsenden Markt für Hybrid-Cloud-Infrastruktur als gut positioniert. Das Unternehmen bietet lokale und cloudbasierte Server- und Speicherlösungen.",
        "en": "IBM says it is positioned in the growing hybrid cloud infrastructure market. It provides on-premises and cloud-based server and storage solutions.",
        "quote": "IBM is well positioned in the growing hybrid cloud infrastructure market, providing on-premises and cloud-based server and storage solutions."
      }
    ],
    "customers": [
      {
        "de": "Zu den Kunden zählen viele Unternehmen weltweit, von kleinen und mittleren Betrieben bis zu den größten Organisationen und Regierungen.",
        "en": "Clients include many enterprises worldwide, from small and medium businesses to the largest organizations and governments.",
        "quote": "The company’s client base includes many enterprises worldwide, from small and medium businesses to the world’s largest organizations and governments, with a significant portion of the company’s revenue coming from global clients across many sectors."
      },
      {
        "de": "Zu den Kunden zählen zahlreiche staatliche Stellen innerhalb und außerhalb der USA, darunter die US-Bundesregierung sowie Landes- und Kommunalbehörden.",
        "en": "Customers include many government bodies inside and outside the U.S., such as the U.S. federal government and state and local bodies.",
        "quote": "The company’s customers include numerous governmental entities within and outside the U.S., including the U.S. Federal Government and state and local entities."
      }
    ],
    "competition": [
      {
        "de": "Die wichtigsten Wettbewerbsmittel des Unternehmens sind technologische Innovation, Leistung, Preis, Qualität, Marke, Breite des Angebots, Talente, Kundenbeziehungen und Vertrauen, die Fähigkeit, Geschäftswert zu liefern, sowie Service und Support.",
        "en": "The company's principal methods of competition are technology innovation, performance, price, quality, brand, breadth of offerings, talent, client relationships and trust, the ability to deliver business value, and service and support.",
        "quote": "Our principal methods of competition are: technology innovation; performance; price; quality; brand; our breadth of capabilities, products and services; talent; client relationships and trust; the ability to deliver business value to clients; and service and support."
      },
      {
        "de": "Cloud-Anbieter nutzen Innovationen bei Technik und Serviceerbringung, um mit klassischen Anbietern zu konkurrieren. Sie bieten außerdem zusätzliche Vertriebswege für Server- und Speichersysteme.",
        "en": "Cloud service providers use innovation in technology and service delivery to compete with traditional providers. They also offer extra routes to market for server and storage systems.",
        "quote": "Further, cloud service providers are leveraging innovation in technology and service delivery to compete with traditional providers and to offer additional routes to market for server and storage systems."
      }
    ],
    "risks": [
      {
        "de": "Das Unternehmen könnte als staatlicher Auftragnehmer gesperrt oder vom Staat ausgeschlossen werden (Debarment). Es könnte außerdem zivil- und strafrechtliche Geldbußen und Strafen treffen.",
        "en": "The company could be suspended or debarred as a government contractor. It could also face civil and criminal fines and penalties.",
        "quote": "The company could be suspended or debarred as a governmental contractor and could incur civil and criminal fines and penalties, which could negatively impact the company’s results of operations, financial results and reputation."
      },
      {
        "de": "Bestimmte Geschäftsbereiche des Unternehmens sind auf einen einzigen oder einige wenige Lieferanten angewiesen, unter anderem für Serverprozessor-Technologie.",
        "en": "Certain of the company's businesses rely on a single supplier or a limited number of suppliers, including for server processor technology.",
        "quote": "Certain of the company’s businesses rely on a single or a limited number of suppliers, including for server processor technology for certain semiconductors."
      },
      {
        "de": "Die Patente und das übrige geistige Eigentum des Unternehmens können Wettbewerber möglicherweise nicht daran hindern, unabhängig ähnliche oder gleichartige Produkte und Dienstleistungen zu entwickeln.",
        "en": "The company's patents and other intellectual property may not stop competitors from independently developing similar or duplicate products and services.",
        "quote": "The company’s patents and other intellectual property may not prevent competitors from independently developing products and services similar to or duplicative to the company’s"
      },
      {
        "de": "Bei einem länger anhaltenden Abschwung an den Finanzmärkten könnte das Unternehmen gezwungen sein, zusätzliche Mittel für den Pensionsplan bereitzustellen. Daraus entsteht ein Liquiditätsrisiko, das die finanzielle Flexibilität beeinträchtigen könnte.",
        "en": "In an extended financial market downturn, the company could be required to provide extra pension plan funding. This creates liquidity risk that could hurt its financial flexibility.",
        "quote": "In addition, in a period of an extended financial market downturn, the company could be required to provide incremental pension plan funding with resulting liquidity risk which could negatively impact the company’s financial flexibility."
      }
    ]
  }
}