International Business Machines Capital Reinvestment Ratio
International Business Machines capital reinvestment ratio. International Business Machines (IBM) has a Capital Reinvestment Ratio of 0.09x as of June 2026, meaning it reinvests 0% of its operating cash flow ($2.60 Billion) in capital expenditures ($229.00 Million). Check International Business Machines total reinvestment intensity to assess the company's total reinvestment commitment from operating cash flow.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of International Business Machines (1989–2025)
Capital reinvestment ratio of International Business Machines from 1989 to 2025. This chart tracks International Business Machines's Capital Reinvestment Ratio across 37 annual periods. Also explore International Business Machines (IBM) equity growth momentum to track the company's year-over-year net asset growth rate.
International Business Machines Capital Reinvestment Ratio by Year (1989–2025)
International Business Machines capital reinvestment ratio by year from 1989 to 2025. For the full cash flow conversion analysis, see International Business Machines (IBM) cash flow conversion.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.12x | $13.19 Billion | $1.62 Billion | ▼ -2.2% |
| 2024 | 0.13x | $13.45 Billion | $1.69 Billion | ▼ -12.2% |
| 2023 | 0.14x | $13.43 Billion | $1.92 Billion | ▼ -19.9% |
| 2022 | 0.18x | $10.44 Billion | $1.86 Billion | ▼ -4.2% |
| 2021 | 0.19x | $12.80 Billion | $2.38 Billion | ▲ +11.3% |
| 2020 | 0.17x | $18.20 Billion | $3.04 Billion | ▼ -15.1% |
| 2019 | 0.20x | $14.77 Billion | $2.91 Billion | ▼ -24.3% |
| 2018 | 0.26x | $15.25 Billion | $3.96 Billion | ▲ +15.2% |
| 2017 | 0.23x | $16.72 Billion | $3.77 Billion | ▼ -7.1% |
| 2016 | 0.24x | $17.08 Billion | $4.15 Billion | ▲ +1.0% |
| 2015 | 0.24x | $17.25 Billion | $4.15 Billion | ▼ -3.0% |
| 2014 | 0.25x | $16.87 Billion | $4.18 Billion | ▲ +4.7% |
| 2013 | 0.24x | $17.48 Billion | $4.14 Billion | ▼ -1.7% |
| 2012 | 0.24x | $19.59 Billion | $4.72 Billion | ▲ +2.4% |
| 2011 | 0.24x | $19.85 Billion | $4.67 Billion | ▼ -3.3% |
| 2010 | 0.24x | $19.55 Billion | $4.75 Billion | ▲ +23.9% |
| 2009 | 0.20x | $20.77 Billion | $4.08 Billion | ▼ -24.5% |
| 2008 | 0.26x | $18.81 Billion | $4.89 Billion | ▼ -24.1% |
| 2007 | 0.34x | $16.09 Billion | $5.50 Billion | ▼ -0.5% |
| 2006 | 0.34x | $15.02 Billion | $5.17 Billion | ▲ +10.7% |
| 2005 | 0.31x | $14.91 Billion | $4.63 Billion | ▼ -5.3% |
| 2004 | 0.33x | $15.41 Billion | $5.06 Billion | ▲ +7.6% |
| 2003 | 0.30x | $14.41 Billion | $4.39 Billion | ▼ -21.4% |
| 2002 | 0.39x | $13.79 Billion | $5.35 Billion | ▲ +0.7% |
| 2001 | 0.39x | $14.02 Billion | $5.40 Billion | ▼ -42.2% |
| 2000 | 0.67x | $9.27 Billion | $6.18 Billion | ▲ +4.9% |
| 1999 | 0.64x | $10.11 Billion | $6.42 Billion | ▼ -13.0% |
| 1998 | 0.73x | $9.27 Billion | $6.77 Billion | ▼ -8.9% |
| 1997 | 0.80x | $8.87 Billion | $7.11 Billion | ▲ +33.3% |
| 1996 | 0.60x | $10.28 Billion | $6.18 Billion | ▲ +15.7% |
| 1995 | 0.52x | $10.71 Billion | $5.57 Billion | ▲ +38.1% |
| 1994 | 0.38x | $11.79 Billion | $4.44 Billion | ▼ -0.6% |
| 1993 | 0.38x | $8.33 Billion | $3.15 Billion | ▼ -63.5% |
| 1992 | 1.04x | $6.27 Billion | $6.50 Billion | ▲ +7.3% |
| 1991 | 0.97x | $6.72 Billion | $6.50 Billion | ▲ +10.9% |
| 1990 | 0.87x | $7.47 Billion | $6.51 Billion | ▲ +0.1% |
| 1989 | 0.87x | $7.37 Billion | $6.41 Billion | — |