Vodafone Group PLC (VOD) — Capital Reinvestment Ratio
Vodafone Group PLC (VOD) has a Capital Reinvestment Ratio of 0.28x as of March 2026, meaning it reinvests 0% of its operating cash flow (GBX8.88 Billion) in capital expenditures (GBX2.45 Billion). Check VOD tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Vodafone Group PLC Capital Reinvestment Ratio (1991–2026)
This chart tracks Vodafone Group PLC's Capital Reinvestment Ratio across 36 annual periods. For the full cash flow conversion analysis, see Vodafone Group PLC (VOD) cash flow conversion.
Annual Capital Reinvestment Ratio for Vodafone Group PLC (1991–2026)
Year-by-year Capital Reinvestment Ratio for Vodafone Group PLC from 1991 to 2026. See VOD FCF generation index to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (GBX) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2026 | 0.36x | GBX13.27 Billion | GBX4.82 Billion | ▼ -16.6% |
| 2025 | 0.44x | GBX15.37 Billion | GBX6.70 Billion | ▲ +5.2% |
| 2024 | 0.41x | GBX16.56 Billion | GBX6.86 Billion | ▼ -18.8% |
| 2023 | 0.51x | GBX18.05 Billion | GBX9.21 Billion | ▲ +1.8% |
| 2022 | 0.50x | GBX18.08 Billion | GBX9.06 Billion | ▼ -0.2% |
| 2021 | 0.50x | GBX17.21 Billion | GBX8.64 Billion | ▲ +14.7% |
| 2020 | 0.44x | GBX17.38 Billion | GBX7.61 Billion | ▲ +12.4% |
| 2019 | 0.39x | GBX12.98 Billion | GBX5.05 Billion | ▲ +7.7% |
| 2018 | 0.36x | GBX13.60 Billion | GBX4.92 Billion | ▼ -18.2% |
| 2017 | 0.44x | GBX14.22 Billion | GBX6.29 Billion | ▼ -60.9% |
| 2016 | 1.13x | GBX13.29 Billion | GBX15.03 Billion | ▲ +23.7% |
| 2015 | 0.91x | GBX13.28 Billion | GBX12.15 Billion | ▲ +29.5% |
| 2014 | 0.71x | GBX7.53 Billion | GBX5.32 Billion | ▼ -13.2% |
| 2013 | 0.81x | GBX12.69 Billion | GBX10.32 Billion | ▲ +40.9% |
| 2012 | 0.58x | GBX12.36 Billion | GBX7.14 Billion | ▼ -19.8% |
| 2011 | 0.72x | GBX13.65 Billion | GBX9.83 Billion | ▲ +34.9% |
| 2010 | 0.53x | GBX14.67 Billion | GBX7.83 Billion | ▼ -16.9% |
| 2009 | 0.64x | GBX11.72 Billion | GBX7.52 Billion | ▲ +35.0% |
| 2008 | 0.48x | GBX12.41 Billion | GBX5.90 Billion | ▲ +6.3% |
| 2007 | 0.45x | GBX14.92 Billion | GBX6.68 Billion | ▼ -3.7% |
| 2006 | 0.47x | GBX15.95 Billion | GBX7.41 Billion | ▲ +13.5% |
| 2005 | 0.41x | GBX17.71 Billion | GBX7.26 Billion | ▲ +16.5% |
| 2004 | 0.35x | GBX19.29 Billion | GBX6.78 Billion | ▼ -31.9% |
| 2003 | 0.52x | GBX15.12 Billion | GBX7.81 Billion | ▲ +1.0% |
| 2002 | 0.51x | GBX13.25 Billion | GBX6.78 Billion | ▼ -92.3% |
| 2001 | 6.65x | GBX4.10 Billion | GBX27.28 Billion | ▲ +486.9% |
| 2000 | 1.13x | GBX2.99 Billion | GBX3.39 Billion | ▼ -3.1% |
| 1999 | 1.17x | GBX965.37 Million | GBX1.13 Billion | ▲ +26.5% |
| 1998 | 0.92x | GBX867.93 Million | GBX801.93 Million | ▼ -4.9% |
| 1997 | 0.97x | GBX510.11 Million | GBX495.85 Million | ▲ +8.4% |
| 1996 | 0.90x | GBX481.38 Million | GBX431.81 Million | ▼ -0.6% |
| 1995 | 0.90x | GBX254.21 Million | GBX229.32 Million | ▲ +33.0% |
| 1994 | 0.68x | GBX308.74 Million | GBX209.39 Million | ▲ +28.2% |
| 1993 | 0.53x | GBX330.05 Million | GBX174.55 Million | ▲ +26.8% |
| 1992 | 0.42x | GBX206.93 Million | GBX86.30 Million | ▼ -62.8% |
| 1991 | 1.12x | GBX191.61 Million | GBX214.87 Million | — |