Apple Inc (AAPL) — Capital Reinvestment Ratio
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). Check how tangible is Apple Inc's equity to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Apple Inc Capital Reinvestment Ratio (1989–2025)
This chart tracks Apple Inc's Capital Reinvestment Ratio across 35 annual periods. For the full cash flow conversion analysis, see AAPL operating cash flow.
Annual Capital Reinvestment Ratio for Apple Inc (1989–2025)
Year-by-year Capital Reinvestment Ratio for Apple Inc from 1989 to 2025. See free cash flow generation of Apple Inc to measure how efficiently the company converts operating cash flow to free cash.
| 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 | — |