Philip Morris International Inc (PM) — Capital Reinvestment Ratio
Philip Morris International Inc (PM) has a Capital Reinvestment Ratio of 0.07x as of June 2026, meaning it reinvests 0% of its operating cash flow ($5.49 Billion) in capital expenditures ($380.00 Million). Check PM tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Philip Morris International Inc Capital Reinvestment Ratio (2003–2025)
This chart tracks Philip Morris International Inc's Capital Reinvestment Ratio across 22 annual periods. For the full cash flow conversion analysis, see PM cash generation efficiency.
Annual Capital Reinvestment Ratio for Philip Morris International Inc (2003–2025)
Year-by-year Capital Reinvestment Ratio for Philip Morris International Inc from 2003 to 2025. See Philip Morris International Inc (PM) free cash flow to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.13x | $12.23 Billion | $1.57 Billion | ▲ +8.5% |
| 2024 | 0.12x | $12.22 Billion | $1.44 Billion | ▼ -17.6% |
| 2023 | 0.14x | $9.20 Billion | $1.32 Billion | ▲ +44.0% |
| 2022 | 0.10x | $10.80 Billion | $1.08 Billion | ▲ +59.5% |
| 2021 | 0.06x | $11.97 Billion | $748.00 Million | ▲ +1.9% |
| 2020 | 0.06x | $9.81 Billion | $602.00 Million | ▼ -27.3% |
| 2019 | 0.08x | $10.09 Billion | $852.00 Million | ▼ -44.3% |
| 2018 | 0.15x | $9.48 Billion | $1.44 Billion | ▼ -12.8% |
| 2017 | 0.17x | $8.91 Billion | $1.55 Billion | ▲ +19.7% |
| 2016 | 0.15x | $8.08 Billion | $1.17 Billion | ▲ +18.9% |
| 2015 | 0.12x | $7.87 Billion | $960.00 Million | ▼ -18.1% |
| 2014 | 0.15x | $7.74 Billion | $1.15 Billion | ▲ +25.8% |
| 2013 | 0.12x | $10.13 Billion | $1.20 Billion | ▲ +5.6% |
| 2012 | 0.11x | $9.42 Billion | $1.06 Billion | ▲ +31.6% |
| 2011 | 0.09x | $10.53 Billion | $897.00 Million | ▲ +12.8% |
| 2010 | 0.08x | $9.44 Billion | $713.00 Million | ▼ -16.7% |
| 2009 | 0.09x | $7.88 Billion | $715.00 Million | ▼ -34.5% |
| 2008 | 0.14x | $7.93 Billion | $1.10 Billion | ▼ -27.8% |
| 2007 | 0.19x | $5.59 Billion | $1.07 Billion | ▲ +35.0% |
| 2006 | 0.14x | $6.24 Billion | $886.00 Million | ▼ -0.4% |
| 2005 | 0.14x | $5.16 Billion | $736.00 Million | ▲ +12.7% |
| 2003 | 0.13x | $4.63 Billion | $586.00 Million | — |