Mulya.ai
Ticker
IBM
Scenario
Key Inputs
Revenue est.?Analysttaper yr4
OP margin est.?Analyst
Reinvestment est.?projected
R&D capitalizedYes · 5yr amort
Leases factoredNo
Key Assumptions
WACC ?8.0%
ERP ?4.5%
Risk-free rate ?4.1%
Beta (blended) ?0.823
Beta (levered) ?1.043
Terminal OM% ?19.5%
Segment conc. ?44% dominant
Terminal growth ?4.1%
Bond rating ?A+ · 1.00%
ROIC option ?Opt 1 · 8.6%
Prob of failure ?0.0%
Pipeline validated · 2026-07-21

IBM · International Business Machines Corporation

$271.632026-07-21
Sector: Technology; Industry: Information Technology Services; Sub-Industry: IT Consulting & Other Services

Intrinsic Value Range Comparison · Mulya.ai

R&D capitalized (5yr)
Bull
$174
-36.1% vs market
Base · active
$108
-60.1% vs market
Bear
$108
-60.1% vs market
Mulya.ai vs Analyst IV Comparison?
Bear $108
Base $108
Bull $174
Market $272
Median $325
Market Price $272
Mulya.ai Base $108
Analysts Median $325
Mulya.ai IV range ($108 · $174)
Analysts Range ($231 · $360)
Fundamentals · historical + forward · base
italics = DCF projection
PeriodRevenueRev Gr ?Ops M% ?Tax Rate ?NOPAT ?
Reinvest ?
FCFF ?WACC% ?PV FCFF ?ROIC ?Inv. Cap ?EPS ?P/E
2024.Q1$61.9B19.6%6.3%$11.3B−$1.8B$9.6B7.0%13.7%$83.0B$7.88
2024.Q4$61.9B0.0%19.6%0.0%$12.6B−$428MM$12.1B7.7%14.8%$87.1B$7.88
2025.Q1$62.8B1.4%19.8%6.6%$11.6B−$8.0B$3.6B7.4%12.8%$94.0B$6.33
2025.Q4$62.8B0.0%19.8%0.0%$12.7B−$6.2B$6.5B7.6%12.9%$103.3B$6.33
2026.Q1$68.9B9.8%20.2%0.0%$14.1B−$9.4B$4.7B7.3%13.2%$111.2B$11.3018.6
italics below = DCF projection · 10yr Rev CAGR: 4.7%
2027.Q1$72.2B+4.8%19.0%2.0%$13.4B−$9.8B$3.6B8.1%$3.3B11.6%$121.1B$11.4523.7
2028.Q1$75.7B+4.7%19.7%4.0%$14.3B−$7.9B$6.4B8.1%$5.5B11.4%$129.0B$12.1922.3
2029.Q1$79.7B+5.3%20.2%6.0%$15.1B−$7.7B$7.4B8.2%$5.9B11.4%$136.7B$12.8821.1
2030.Q1$83.8B+5.2%18.5%8.0%$14.3B−$9.0B$5.3B8.2%$3.8B10.1%$145.7B$12.1622.3
2031.Q1$88.0B+5.0%18.5%10.0%$14.7B−$8.8B$5.8B8.3%$3.9B9.8%$154.5B$12.4921.7
Term. Yr+$113.9B4.1%19.5%20.0%$17.7B−$8.5B$9.3B8.6%$92.8B8.6%
Active scenario IV: $108 (-60.1% vs market)