International Business Machines (IBM) — Cash Flow Reinvestment Rate
International Business Machines (IBM) has a Cash Flow Reinvestment Rate of 0.13x as of June 2026, reinvesting $336.00 Million (capex $229.00 Million plus investments $-107.00 Million) from operating cash flow of $2.60 Billion. See IBM free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
Reinvestment Rate
Total Reinvested
Operating Cash Flow
Capital Expenditures
International Business Machines Cash Flow Reinvestment Rate (1989–2025)
Historical reinvestment intensity for International Business Machines across 37 annual periods. For the full cash flow conversion analysis, see IBM cash flow conversion.
Annual Cash Flow Reinvestment Rate for International Business Machines (1989–2025)
Year-by-year capital reinvestment analysis for International Business Machines. See financial agility of International Business Machines to measure the company's free cash flow as a share of total liabilities.
| Year | Reinvestment Rate | Total Reinvested (USD) | Operating CF | Capex | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.15x | $2.01 Billion | $13.19 Billion | $1.62 Billion | ▼ -69.1% |
| 2024 | 0.49x | $6.62 Billion | $13.45 Billion | $1.69 Billion | ▼ -49.7% |
| 2023 | 0.98x | $13.14 Billion | $13.43 Billion | $1.92 Billion | ▲ +68.4% |
| 2022 | 0.58x | $6.06 Billion | $10.44 Billion | $1.86 Billion | ▲ +166.0% |
| 2021 | 0.22x | $2.79 Billion | $12.80 Billion | $2.38 Billion | ▲ +24.4% |
| 2020 | 0.18x | $3.19 Billion | $18.20 Billion | $3.04 Billion | ▼ -73.8% |
| 2019 | 0.67x | $9.89 Billion | $14.77 Billion | $2.91 Billion | ▲ +103.4% |
| 2018 | 0.33x | $5.02 Billion | $15.25 Billion | $3.96 Billion | ▼ -19.7% |
| 2017 | 0.41x | $6.86 Billion | $16.72 Billion | $3.77 Billion | ▲ +33.0% |
| 2016 | 0.31x | $5.27 Billion | $17.08 Billion | $4.15 Billion | ▲ +11.3% |
| 2015 | 0.28x | $4.78 Billion | $17.25 Billion | $4.15 Billion | ▼ -8.5% |
| 2014 | 0.30x | $5.11 Billion | $16.87 Billion | $4.18 Billion | ▲ +7.2% |
| 2013 | 0.28x | $4.94 Billion | $17.48 Billion | $4.14 Billion | ▼ -12.1% |
| 2012 | 0.32x | $6.29 Billion | $19.59 Billion | $4.72 Billion | ▲ +4.1% |
| 2011 | 0.31x | $6.13 Billion | $19.85 Billion | $4.67 Billion | ▼ -1.0% |
| 2010 | 0.31x | $6.10 Billion | $19.55 Billion | $4.75 Billion | ▲ +3.4% |
| 2009 | 0.30x | $6.27 Billion | $20.77 Billion | $4.08 Billion | ▲ +16.1% |
| 2008 | 0.26x | $4.89 Billion | $18.81 Billion | $4.89 Billion | ▼ -24.1% |
| 2007 | 0.34x | $5.50 Billion | $16.09 Billion | $5.50 Billion | ▼ -0.5% |
| 2006 | 0.34x | $5.17 Billion | $15.02 Billion | $5.17 Billion | ▲ +10.7% |
| 2005 | 0.31x | $4.63 Billion | $14.91 Billion | $4.63 Billion | ▼ -5.3% |
| 2004 | 0.33x | $5.06 Billion | $15.41 Billion | $5.06 Billion | ▲ +7.6% |
| 2003 | 0.30x | $4.39 Billion | $14.41 Billion | $4.39 Billion | ▼ -21.4% |
| 2002 | 0.39x | $5.35 Billion | $13.79 Billion | $5.35 Billion | ▲ +0.7% |
| 2001 | 0.39x | $5.40 Billion | $14.02 Billion | $5.40 Billion | ▼ -42.2% |
| 2000 | 0.67x | $6.18 Billion | $9.27 Billion | $6.18 Billion | ▲ +4.9% |
| 1999 | 0.64x | $6.42 Billion | $10.11 Billion | $6.42 Billion | ▼ -13.0% |
| 1998 | 0.73x | $6.77 Billion | $9.27 Billion | $6.77 Billion | ▼ -8.9% |
| 1997 | 0.80x | $7.11 Billion | $8.87 Billion | $7.11 Billion | ▲ +33.3% |
| 1996 | 0.60x | $6.18 Billion | $10.28 Billion | $6.18 Billion | ▲ +15.7% |
| 1995 | 0.52x | $5.57 Billion | $10.71 Billion | $5.57 Billion | ▲ +38.1% |
| 1994 | 0.38x | $4.44 Billion | $11.79 Billion | $4.44 Billion | ▼ -0.6% |
| 1993 | 0.38x | $3.15 Billion | $8.33 Billion | $3.15 Billion | ▼ -63.5% |
| 1992 | 1.04x | $6.50 Billion | $6.27 Billion | $6.50 Billion | ▲ +7.3% |
| 1991 | 0.97x | $6.50 Billion | $6.72 Billion | $6.50 Billion | ▲ +10.9% |
| 1990 | 0.87x | $6.51 Billion | $7.47 Billion | $6.51 Billion | ▲ +0.1% |
| 1989 | 0.87x | $6.41 Billion | $7.37 Billion | $6.41 Billion | — |