Investing
CapEx
American Tower CapEx decreased by 22.4% to $449.50M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 35.8%, from $331.10M to $449.50M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 5.1% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2013
Last reportedQ1 2026
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.
Metric ID:
cf_capital_expendituresHistorical Data
20 periods
| 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 | $277.90M | $314.00M | $460.00M | $386.10M | $370.10M | $459.20M | $658.20M | $461.90M | $420.90M | $390.70M | $524.60M | $396.70M | $325.20M | $424.70M | $443.40M | $331.10M | $304.60M | $465.50M | $579.20M | $449.50M |
| QoQ Change | — | +13.0% | +46.5% | -16.1% | -4.1% | +24.1% | +43.3% | -29.8% | -8.9% | -7.2% | +34.3% | -24.4% | -18.0% | +30.6% | +4.4% | -25.3% | -8.0% | +52.8% | +24.4% | -22.4% |
| YoY Change | — | — | — | — | +33.2% | +46.2% | +43.1% | +19.6% | +13.7% | -14.9% | -20.3% | -14.1% | -22.7% | +8.7% | -15.5% | -16.5% | -6.3% | +9.6% | +30.6% | +35.8% |
Range$277.90M – $658.20M
CAGR+10.7%
Avg YoY Growth+8.1%
Median YoY Growth+9.2%
CapEx at Other Companies
Frequently Asked Questions
- What is American Tower's capex?
- American Tower (AMT) reported capex of $449.50M in Q1 2026.
- How has American Tower's capex changed year-over-year?
- American Tower's capex increased by 35.8% year-over-year, from $331.10M to $449.50M.
- What is the long-term trend for American Tower's capex?
- Over 4 years (2021 to 2025), American Tower's capex has grown at a 5.1% compound annual growth rate (CAGR), from $1.38B to $1.68B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.