Qantas Airways Ltd (QAN) — Capital Reinvestment Ratio
Latest as of December 2025:
1.09x
Qantas Airways Ltd (QAN) has a Capital Reinvestment Ratio of 1.09x as of December 2025, meaning it reinvests 1% of its operating cash flow (AU$1.69 Billion) in capital expenditures (AU$1.84 Billion). See QAN cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
1.09x
Capex / Operating Cash Flow
Operating Cash Flow
AU$1.69 Billion
AUD
Capital Expenditures
AU$1.84 Billion
AUD
Data as of
Dec 2025
Most recent filing
Qantas Airways Ltd Capital Reinvestment Ratio (1994–2025)
This chart tracks Qantas Airways Ltd's Capital Reinvestment Ratio across 30 annual periods.
Annual Capital Reinvestment Ratio for Qantas Airways Ltd (1994–2025)
Year-by-year Capital Reinvestment Ratio for Qantas Airways Ltd from 1994 to 2025. For live market cap and broader valuation context, see QAN market cap overview.
| Year | Reinvestment Ratio | Operating CF (AUD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.92x | AU$4.25 Billion | AU$3.92 Billion | ▲ +15.6% |
| 2024 | 0.80x | AU$3.35 Billion | AU$2.67 Billion | ▲ +57.2% |
| 2023 | 0.51x | AU$5.05 Billion | AU$2.56 Billion | ▲ +49.5% |
| 2022 | 0.34x | AU$2.67 Billion | AU$906.00 Million | ▼ -76.3% |
| 2020 | 1.43x | AU$1.08 Billion | AU$1.55 Billion | ▲ +127.9% |
| 2019 | 0.63x | AU$3.16 Billion | AU$1.99 Billion | ▲ +7.0% |
| 2018 | 0.59x | AU$3.41 Billion | AU$2.00 Billion | ▲ +12.3% |
| 2017 | 0.52x | AU$2.70 Billion | AU$1.41 Billion | ▼ -10.3% |
| 2016 | 0.58x | AU$2.82 Billion | AU$1.64 Billion | ▼ -13.3% |
| 2015 | 0.67x | AU$2.05 Billion | AU$1.38 Billion | ▼ -39.9% |
| 2014 | 1.12x | AU$1.07 Billion | AU$1.20 Billion | ▲ +21.1% |
| 2013 | 0.92x | AU$1.42 Billion | AU$1.31 Billion | ▼ -24.8% |
| 2012 | 1.23x | AU$1.81 Billion | AU$2.22 Billion | ▼ -13.7% |
| 2011 | 1.42x | AU$1.69 Billion | AU$2.41 Billion | ▲ +10.1% |
| 2010 | 1.29x | AU$1.31 Billion | AU$1.69 Billion | ▼ -4.7% |
| 2009 | 1.36x | AU$1.13 Billion | AU$1.53 Billion | ▲ +102.6% |
| 2008 | 0.67x | AU$2.13 Billion | AU$1.42 Billion | ▲ +27.4% |
| 2007 | 0.53x | AU$2.35 Billion | AU$1.24 Billion | ▼ -30.3% |
| 2006 | 0.75x | AU$2.03 Billion | AU$1.53 Billion | ▼ -12.7% |
| 2005 | 0.86x | AU$1.95 Billion | AU$1.68 Billion | ▼ -13.3% |
| 2004 | 1.00x | AU$2.00 Billion | AU$1.99 Billion | ▼ -56.3% |
| 2003 | 2.28x | AU$1.29 Billion | AU$2.94 Billion | ▲ +11.3% |
| 2002 | 2.05x | AU$1.14 Billion | AU$2.34 Billion | ▲ +136.7% |
| 2001 | 0.86x | AU$1.10 Billion | AU$951.10 Million | ▲ +20.0% |
| 2000 | 0.72x | AU$1.60 Billion | AU$1.15 Billion | ▼ -30.1% |
| 1999 | 1.03x | AU$1.21 Billion | AU$1.24 Billion | ▲ +82.8% |
| 1998 | 0.56x | AU$1.22 Billion | AU$686.60 Million | ▲ +0.2% |
| 1997 | 0.56x | AU$1.11 Billion | AU$624.80 Million | ▲ +2.8% |
| 1995 | 0.55x | AU$853.80 Million | AU$467.20 Million | ▲ +55.8% |
| 1994 | 0.35x | AU$729.00 Million | AU$256.00 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow