International Consolidated Airlines Group S.A (IAG) — Capital Reinvestment Ratio
International Consolidated Airlines Group S.A (IAG) has a Capital Reinvestment Ratio of 0.62x as of December 2025, meaning it reinvests 1% of its operating cash flow (€2.92 Billion) in capital expenditures (€1.81 Billion). Check tangible equity quality of International Consolidated Airlines Grou to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
International Consolidated Airlines Group S.A Capital Reinvestment Ratio (2003–2025)
This chart tracks International Consolidated Airlines Group S.A's Capital Reinvestment Ratio across 20 annual periods. For the full cash flow conversion analysis, see IAG cash flow metrics.
Annual Capital Reinvestment Ratio for International Consolidated Airlines Group S.A (2003–2025)
Year-by-year Capital Reinvestment Ratio for International Consolidated Airlines Group S.A from 2003 to 2025. See IAG 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 | 0.52x | €6.47 Billion | €3.38 Billion | ▲ +18.2% |
| 2024 | 0.44x | €6.37 Billion | €2.82 Billion | ▼ -39.5% |
| 2023 | 0.73x | €4.86 Billion | €3.55 Billion | ▼ -8.8% |
| 2022 | 0.80x | €4.83 Billion | €3.88 Billion | ▼ -7.4% |
| 2019 | 0.87x | €4.00 Billion | €3.46 Billion | ▼ 0.0% |
| 2018 | 0.87x | €3.24 Billion | €2.80 Billion | ▲ +104.2% |
| 2017 | 0.42x | €3.51 Billion | €1.49 Billion | ▼ -63.1% |
| 2016 | 1.15x | €2.65 Billion | €3.04 Billion | ▲ +10.8% |
| 2015 | 1.04x | €1.97 Billion | €2.04 Billion | ▼ -26.4% |
| 2014 | 1.41x | €1.86 Billion | €2.62 Billion | ▼ -21.9% |
| 2013 | 1.80x | €1.22 Billion | €2.20 Billion | ▼ -50.7% |
| 2012 | 3.65x | €339.00 Million | €1.24 Billion | ▲ +162.8% |
| 2011 | 1.39x | €770.00 Million | €1.07 Billion | ▲ +103.1% |
| 2010 | 0.68x | €936.00 Million | €641.00 Million | ▼ -69.4% |
| 2008 | 2.24x | €275.29 Million | €616.44 Million | ▲ +50.6% |
| 2007 | 1.49x | €530.57 Million | €788.95 Million | ▲ +252.5% |
| 2006 | 0.42x | €1.28 Billion | €540.75 Million | ▲ +114.5% |
| 2005 | 0.20x | €2.06 Billion | €405.63 Million | ▼ -43.9% |
| 2004 | 0.35x | €1.61 Billion | €564.12 Million | ▲ +52.1% |
| 2003 | 0.23x | €1.37 Billion | €317.05 Million | — |