Aena SA (AENA) — Cash Flow Reinvestment Rate

Latest as of March 2026: 0.34x

Aena SA (AENA) has a Cash Flow Reinvestment Rate of 0.34x as of March 2026, reinvesting €304.98 Million (capex €298.88 Million plus investments €-6.09 Million) from operating cash flow of €908.40 Million. See Aena SA free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.

Reinvestment Rate

0.34x
(Capex + Investments) / Operating CF

Total Reinvested

€304.98 Million
Capex + Investments

Operating Cash Flow

€908.40 Million
EUR

Capital Expenditures

€298.88 Million
EUR

Aena SA Cash Flow Reinvestment Rate (2011–2025)

Historical reinvestment intensity for Aena SA across 15 annual periods. For the full cash flow conversion analysis, see Aena SA operating cash flow efficiency.

Annual Cash Flow Reinvestment Rate for Aena SA (2011–2025)

Year-by-year capital reinvestment analysis for Aena SA. See AENA free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.

Year Reinvestment Rate Total Reinvested (EUR) Operating CF Capex YoY Change
2025 0.38x €1.09 Billion €2.83 Billion €720.28 Million ▼ -35.2%
2024 0.59x €1.63 Billion €2.75 Billion €825.18 Million ▼ -34.5%
2023 0.91x €2.01 Billion €2.22 Billion €545.02 Million ▲ +21.3%
2022 0.75x €1.39 Billion €1.86 Billion €727.69 Million ▼ -69.2%
2021 2.43x €680.55 Million €280.47 Million €671.08 Million ▼ -33.7%
2020 3.66x €535.51 Million €146.24 Million €503.12 Million ▲ +655.0%
2019 0.49x €1.03 Billion €2.11 Billion €1.02 Billion ▲ +81.4%
2018 0.27x €520.70 Million €1.95 Billion €520.19 Million ▲ +42.5%
2017 0.19x €377.84 Million €2.01 Billion €370.41 Million ▼ -42.2%
2016 0.32x €595.68 Million €1.83 Billion €304.04 Million ▲ +99.9%
2015 0.16x €264.63 Million €1.63 Billion €254.66 Million ▼ -32.9%
2014 0.24x €326.06 Million €1.35 Billion €316.09 Million ▼ -42.3%
2013 0.42x €502.18 Million €1.20 Billion €492.21 Million ▼ -63.6%
2012 1.15x €814.98 Million €706.41 Million €814.98 Million ▲ +28.7%
2011 0.90x €591.64 Million €659.95 Million €591.64 Million —
Cash Flow Reinvestment Rate = (ABS(Capex) + ABS(Investments)) / Operating Cash Flow