International Business Machines (IBM) — Cash Flow Reinvestment Rate
International Business Machines (IBM) has a Cash Flow Reinvestment Rate of 0.15x as of March 2026, reinvesting $750.00 Million (capex $391.00 Million plus investments $359.00 Million) from operating cash flow of $5.17 Billion. Check IBM operating cash flow to net income to evaluate the quality of earnings relative to operating cash generation.
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. Explore long-term investment intensity of International Business Machines to see how much of total assets are deployed in long-term investments.
Annual Cash Flow Reinvestment Rate for International Business Machines (1989–2025)
Year-by-year capital reinvestment analysis for International Business Machines. For live market cap and broader valuation context, see International Business Machines market cap and net worth.
| 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 | — |