Aena SA (AENA) — Capital Reinvestment Ratio
Aena SA (AENA) has a Capital Reinvestment Ratio of 0.33x as of March 2026, meaning it reinvests 0% of its operating cash flow (€908.40 Million) in capital expenditures (€298.88 Million). Check tangible equity quality of Aena SA to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Aena SA Capital Reinvestment Ratio (2011–2025)
This chart tracks Aena SA's Capital Reinvestment Ratio across 15 annual periods. For the full cash flow conversion analysis, see Aena SA operating cash flow efficiency.
Annual Capital Reinvestment Ratio for Aena SA (2011–2025)
Year-by-year Capital Reinvestment Ratio for Aena SA from 2011 to 2025. See AENA cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (EUR) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.25x | €2.83 Billion | €720.28 Million | ▼ -15.1% |
| 2024 | 0.30x | €2.75 Billion | €825.18 Million | ▲ +22.3% |
| 2023 | 0.25x | €2.22 Billion | €545.02 Million | ▼ -37.1% |
| 2022 | 0.39x | €1.86 Billion | €727.69 Million | ▼ -83.7% |
| 2021 | 2.39x | €280.47 Million | €671.08 Million | ▼ -30.5% |
| 2020 | 3.44x | €146.24 Million | €503.12 Million | ▲ +609.8% |
| 2019 | 0.48x | €2.11 Billion | €1.02 Billion | ▲ +81.5% |
| 2018 | 0.27x | €1.95 Billion | €520.19 Million | ▲ +45.3% |
| 2017 | 0.18x | €2.01 Billion | €370.41 Million | ▲ +11.0% |
| 2016 | 0.17x | €1.83 Billion | €304.04 Million | ▲ +6.0% |
| 2015 | 0.16x | €1.63 Billion | €254.66 Million | ▼ -33.4% |
| 2014 | 0.23x | €1.35 Billion | €316.09 Million | ▼ -42.9% |
| 2013 | 0.41x | €1.20 Billion | €492.21 Million | ▼ -64.4% |
| 2012 | 1.15x | €706.41 Million | €814.98 Million | ▲ +28.7% |
| 2011 | 0.90x | €659.95 Million | €591.64 Million | — |