高盛 IBM公司财务估值模型

IBM Corporation (IBM)

($M, except per share data)

Hardware

Global Services

Software

Global Financing

Other

Total Revenue

QOQ Growth

YOY Growth

Total cost of revenue

Gross Profit

Gross Margin

R & D

SG & A

IP Income

Total Operating Expenses

Operating income (loss)

Operating margin

Other income, net

Pretax income

Pretax margin

Taxes

Tax rate

Net income (loss)

Net Margin

EPS

YOY Growth

ESO expense

EPS w/o ESO expense

Avg shares (millions)

Cash flow & balance sheet metrics:

Cash flow from operations Free cash flow

Free cash flow per share

DSO

Inventory Turns

Total Cash and equivalents Debt

Net cash

Net cash per share 7,782.06,632.07,763.07,626.86,256.5(4,767.0)(3,026.0)266.2 $4.90$4.25$5.06$4.98$4.11($3.26)($2.15)$0.19