CapEx
Ameren CapEx increased by 55.8% to $1.57B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 47.9%, from $1.06B to $1.57B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 4.4% CAGR.
Analysis
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
capital_expendituresHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $876.00M | $850.00M | $866.00M | $774.00M | $764.00M | $899.00M | $914.00M | $931.00M | $891.00M | $749.00M | $1.03B | $890.00M | $1.00B | $1.14B | $1.29B | $1.06B | $1.07B | $988.00M | $1.01B | $1.57B |
| QoQ Change | — | -3.0% | +1.9% | -10.6% | -1.3% | +17.7% | +1.7% | +1.9% | -4.3% | -15.9% | +37.0% | -13.3% | +12.6% | +13.5% | +13.5% | -17.5% | +0.2% | -7.3% | +2.2% | +55.8% |
| YoY Change | — | — | — | — | -12.8% | +5.8% | +5.5% | +20.3% | +16.6% | -16.7% | +12.3% | -4.4% | +12.5% | +51.8% | +25.7% | +19.6% | +6.4% | -13.1% | -21.7% | +47.9% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Union Electric Company | $638.00M | $735.00M | $873.00M | $658.00M | $667.00M | $548.00M | $629.00M | $1.09B |
| Ameren Transmission | $175.00M | $174.00M | — | $173.00M | $158.00M | $174.00M | — | $204.00M |
| Ameren Illinois Electric Distribution | $132.00M | $152.00M | — | $167.00M | $153.00M | $163.00M | — | $196.00M |
| Ameren Illinois Transmission | $153.00M | $139.00M | — | $137.00M | $138.00M | $144.00M | — | $120.00M |
| Ameren Illinois Natural Gas | $59.00M | $83.00M | — | $59.00M | $88.00M | $78.00M | — | $72.00M |
| Ameren Illinois Gas | — | — | $66.00M | — | — | — | $70.75M | — |
| Total | $1.00B | $1.14B | $1.29B | $1.06B | $1.07B | $988.00M | $1.01B | $1.57B |
Ameren Illinois Gas is derived from annual filings.
Ameren Illinois Gas was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
CapEx at Other Companies
Frequently Asked Questions
- What is Ameren's capex?
- Ameren (AEE) reported capex of $1.57B in Q1 2026.
- How has Ameren's capex changed year-over-year?
- Ameren's capex increased by 47.9% year-over-year, from $1.06B to $1.57B.
- What is the long-term trend for Ameren's capex?
- Over 4 years (2021 to 2025), Ameren's capex has grown at a 4.4% compound annual growth rate (CAGR), from $3.48B to $4.13B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.