Investing
CapEx
Amazon CapEx increased by 12.6% to $39.52B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 42.0%, from $27.83B to $39.52B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 21.2% 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:
capital_expendituresHistorical Data
19 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $14.29B | $15.75B | $18.94B | $14.95B | $15.72B | $16.38B | $16.59B | $14.21B | $11.46B | $12.48B | $14.59B | $14.93B | $17.62B | $22.62B | $27.83B | $25.02B | $32.18B | $35.10B | $39.52B |
| QoQ Change | — | +10.2% | +20.2% | -21.0% | +5.2% | +4.2% | +1.3% | -14.4% | -19.4% | +8.9% | +16.9% | +2.3% | +18.1% | +28.4% | +23.1% | -10.1% | +28.6% | +9.0% | +12.6% |
| YoY Change | — | — | — | — | +10.1% | +4.0% | -12.4% | -5.0% | -27.1% | -23.8% | -12.1% | +5.1% | +53.8% | +81.3% | +90.8% | +67.6% | +82.7% | +55.2% | +42.0% |
Range$11.46B – $39.52B
CAGR+25.4%
Avg YoY Growth+27.5%
Median YoY Growth+10.1%
Current Streak3 quarters growth
CapEx at Other Companies
Frequently Asked Questions
- What is Amazon's capex?
- Amazon (AMZN) reported capex of $39.52B in Q4 2025.
- How has Amazon's capex changed year-over-year?
- Amazon's capex increased by 42.0% year-over-year, from $27.83B to $39.52B.
- What is the long-term trend for Amazon's capex?
- Over 4 years (2021 to 2025), Amazon's capex has grown at a 21.2% compound annual growth rate (CAGR), from $61.05B to $131.82B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.