Microsoft Corporation (MSFT) — Capital Reinvestment Ratio
Microsoft Corporation (MSFT) has a Capital Reinvestment Ratio of 0.66x as of March 2026, meaning it reinvests 1% of its operating cash flow ($46.68 Billion) in capital expenditures ($30.88 Billion). Check Microsoft Corporation (MSFT) tangible net worth to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Microsoft Corporation Capital Reinvestment Ratio (1989–2025)
This chart tracks Microsoft Corporation's Capital Reinvestment Ratio across 37 annual periods. For the full cash flow conversion analysis, see Microsoft Corporation cash flow conversion.
Annual Capital Reinvestment Ratio for Microsoft Corporation (1989–2025)
Year-by-year Capital Reinvestment Ratio for Microsoft Corporation from 1989 to 2025. See MSFT cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.47x | $136.16 Billion | $64.55 Billion | ▲ +26.4% |
| 2024 | 0.38x | $118.55 Billion | $44.48 Billion | ▲ +16.9% |
| 2023 | 0.32x | $87.58 Billion | $28.11 Billion | ▲ +19.6% |
| 2022 | 0.27x | $89.03 Billion | $23.89 Billion | ▼ -0.2% |
| 2021 | 0.27x | $76.74 Billion | $20.62 Billion | ▲ +5.6% |
| 2020 | 0.25x | $60.67 Billion | $15.44 Billion | ▼ -4.6% |
| 2019 | 0.27x | $52.19 Billion | $13.93 Billion | ▲ +0.7% |
| 2018 | 0.27x | $43.88 Billion | $11.63 Billion | ▲ +28.8% |
| 2017 | 0.21x | $39.51 Billion | $8.13 Billion | ▼ -17.8% |
| 2016 | 0.25x | $33.33 Billion | $8.34 Billion | ▲ +25.0% |
| 2015 | 0.20x | $29.67 Billion | $5.94 Billion | ▲ +18.7% |
| 2014 | 0.17x | $32.50 Billion | $5.49 Billion | ▲ +14.3% |
| 2013 | 0.15x | $28.83 Billion | $4.26 Billion | ▲ +102.6% |
| 2012 | 0.07x | $31.63 Billion | $2.31 Billion | ▼ -16.5% |
| 2011 | 0.09x | $26.99 Billion | $2.35 Billion | ▲ +6.2% |
| 2010 | 0.08x | $24.07 Billion | $1.98 Billion | ▼ -49.9% |
| 2009 | 0.16x | $19.04 Billion | $3.12 Billion | ▲ +11.3% |
| 2008 | 0.15x | $21.61 Billion | $3.18 Billion | ▲ +15.7% |
| 2007 | 0.13x | $17.80 Billion | $2.26 Billion | ▲ +16.1% |
| 2006 | 0.11x | $14.40 Billion | $1.58 Billion | ▲ +124.0% |
| 2005 | 0.05x | $16.61 Billion | $812.00 Million | ▼ -35.5% |
| 2004 | 0.08x | $14.63 Billion | $1.11 Billion | ▲ +34.4% |
| 2003 | 0.06x | $15.80 Billion | $891.00 Million | ▲ +6.3% |
| 2002 | 0.05x | $14.51 Billion | $770.00 Million | ▼ -35.4% |
| 2001 | 0.08x | $13.42 Billion | $1.10 Billion | ▲ +6.8% |
| 2000 | 0.08x | $11.43 Billion | $879.00 Million | ▲ +73.3% |
| 1999 | 0.04x | $13.14 Billion | $583.00 Million | ▼ -43.0% |
| 1998 | 0.08x | $8.43 Billion | $656.00 Million | ▼ -26.9% |
| 1997 | 0.11x | $4.69 Billion | $499.00 Million | ▼ -19.9% |
| 1996 | 0.13x | $3.72 Billion | $494.00 Million | ▼ -46.6% |
| 1995 | 0.25x | $1.99 Billion | $495.00 Million | ▲ +42.5% |
| 1994 | 0.17x | $1.59 Billion | $278.00 Million | ▼ -20.6% |
| 1993 | 0.22x | $1.07 Billion | $236.00 Million | ▼ -37.0% |
| 1992 | 0.35x | $907.00 Million | $316.60 Million | ▼ -26.3% |
| 1991 | 0.47x | $557.90 Million | $264.40 Million | ▼ -16.6% |
| 1990 | 0.57x | $278.30 Million | $158.10 Million | ▲ +41.4% |
| 1989 | 0.40x | $222.50 Million | $89.40 Million | — |