Apple Inc (AAPL) — Capital Reinvestment Ratio
Latest as of December 2025:
0.04x
Apple Inc (AAPL) has a Capital Reinvestment Ratio of 0.04x as of December 2025, meaning it reinvests 0% of its operating cash flow ($53.92 Billion) in capital expenditures ($2.37 Billion). See AAPL free cash flow to operating cash ratio to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
0.04x
Capex / Operating Cash Flow
Operating Cash Flow
$53.92 Billion
USD
Capital Expenditures
$2.37 Billion
USD
Data as of
Dec 2025
Most recent filing
Apple Inc Capital Reinvestment Ratio (1989–2025)
This chart tracks Apple Inc's Capital Reinvestment Ratio across 35 annual periods.
Annual Capital Reinvestment Ratio for Apple Inc (1989–2025)
Year-by-year Capital Reinvestment Ratio for Apple Inc from 1989 to 2025. For live market cap and broader valuation context, see Apple Inc market capitalisation.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.11x | $111.48 Billion | $12.71 Billion | ▲ +42.8% |
| 2024 | 0.08x | $118.25 Billion | $9.45 Billion | ▼ -19.4% |
| 2023 | 0.10x | $110.54 Billion | $10.96 Billion | ▲ +13.1% |
| 2022 | 0.09x | $122.15 Billion | $10.71 Billion | ▼ -17.7% |
| 2021 | 0.11x | $104.04 Billion | $11.09 Billion | ▲ +17.6% |
| 2020 | 0.09x | $80.67 Billion | $7.31 Billion | ▼ -40.1% |
| 2019 | 0.15x | $69.39 Billion | $10.49 Billion | ▼ -12.0% |
| 2018 | 0.17x | $77.43 Billion | $13.31 Billion | ▼ -12.2% |
| 2017 | 0.20x | $63.60 Billion | $12.45 Billion | ▲ +1.2% |
| 2016 | 0.19x | $65.82 Billion | $12.73 Billion | ▲ +39.8% |
| 2015 | 0.14x | $81.27 Billion | $11.25 Billion | ▼ -13.7% |
| 2014 | 0.16x | $59.71 Billion | $9.57 Billion | ▲ +5.3% |
| 2013 | 0.15x | $53.67 Billion | $8.16 Billion | ▼ -6.7% |
| 2012 | 0.16x | $50.86 Billion | $8.29 Billion | ▲ +43.7% |
| 2011 | 0.11x | $37.53 Billion | $4.26 Billion | ▲ +5.3% |
| 2010 | 0.11x | $18.59 Billion | $2.00 Billion | ▼ -4.2% |
| 2009 | 0.11x | $10.16 Billion | $1.14 Billion | ▼ -1.0% |
| 2008 | 0.11x | $9.60 Billion | $1.09 Billion | ▼ -15.4% |
| 2007 | 0.13x | $5.47 Billion | $735.00 Million | ▼ -54.6% |
| 2006 | 0.30x | $2.22 Billion | $657.00 Million | ▲ +188.5% |
| 2005 | 0.10x | $2.54 Billion | $260.00 Million | ▼ -45.6% |
| 2004 | 0.19x | $934.00 Million | $176.00 Million | ▼ -66.8% |
| 2003 | 0.57x | $289.00 Million | $164.00 Million | ▼ -71.0% |
| 2002 | 1.96x | $89.00 Million | $174.00 Million | ▲ +55.9% |
| 2001 | 1.25x | $185.00 Million | $232.00 Million | ▲ +868.1% |
| 2000 | 0.13x | $826.00 Million | $107.00 Million | ▲ +119.9% |
| 1999 | 0.06x | $798.00 Million | $47.00 Million | ▼ -18.5% |
| 1998 | 0.07x | $775.00 Million | $56.00 Million | ▼ -74.4% |
| 1997 | 0.28x | $188.00 Million | $53.00 Million | ▲ +118.4% |
| 1996 | 0.13x | $519.00 Million | $67.00 Million | ▼ -40.4% |
| 1994 | 0.22x | $737.00 Million | $159.59 Million | ▼ -1.8% |
| 1992 | 0.22x | $883.70 Million | $194.85 Million | ▼ -87.0% |
| 1991 | 1.70x | $128.70 Million | $218.30 Million | ▲ +628.9% |
| 1990 | 0.23x | $963.90 Million | $224.30 Million | ▼ -50.6% |
| 1989 | 0.47x | $507.30 Million | $239.00 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow