International Business Machines


SKU: IBM-1 Category:


As a legacy tech company, IBM may have seen a slowdown in its growth trajectory but its acquisition-led growth approach continues to work. The company has been trying to catch up to modern trends and a good example of the same was its move to acquire Databand, a startup developing an observability platform for data and machine learning pipelines. It is important to highlight that the company generated a strong set of results in the second quarter, surpassing Wall Street expectations in terms of revenues as well as earnings. With this performance, the company is maintaining its model of mid-single-digit revenue growth and a double-digit performance in IBM Consulting. Their infrastructure business also had a successful quarter, thanks to the launch of the z16 platform. Furthermore, they announced a strategic collaboration with AWS to offer a broad array of their software catalogue on AWS. Overall, we remain neutral on their stock and give their stock a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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