International Business Machines (IBM) — Capital Reinvestment Ratio
International Business Machines (IBM) has a Capital Reinvestment Ratio of 0.08x as of March 2026, meaning it reinvests 0% of its operating cash flow ($5.17 Billion) in capital expenditures ($391.00 Million). See net asset quality index of International Business Machines to measure how much of total assets are equity-financed.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
International Business Machines Capital Reinvestment Ratio (1989–2025)
This chart tracks International Business Machines's Capital Reinvestment Ratio across 37 annual periods. Check IBM cash reinvestment to operating cash ratio to assess the company's total reinvestment commitment from operating cash flow.
Annual Capital Reinvestment Ratio for International Business Machines (1989–2025)
Year-by-year Capital Reinvestment Ratio for International Business Machines from 1989 to 2025. For live market cap and broader valuation context, see International Business Machines market capitalisation.
| 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 | — |