Investing
CapEx
American Express CapEx increased by 59.1% to $1.15B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 167.2%, from $430.00M to $1.15B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 11.8% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ4 2013
Last reportedQ4 2025
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 | $290.00M | $470.00M | $471.00M | $447.00M | $452.00M | $443.00M | $513.00M | $360.00M | $376.00M | $401.00M | $426.00M | $396.00M | $565.00M | $455.00M | $495.00M | $430.00M | $619.00M | $654.00M | $722.00M | $1.15B |
| QoQ Change | — | +62.1% | +0.2% | -5.1% | +1.1% | -2.0% | +15.8% | -29.8% | +4.4% | +6.6% | +6.2% | -7.0% | +42.7% | -19.5% | +8.8% | -13.1% | +44.0% | +5.7% | +10.4% | +59.1% |
| YoY Change | — | — | — | — | +55.9% | -5.7% | +8.9% | -19.5% | -16.8% | -9.5% | -17.0% | +10.0% | +50.3% | +13.5% | +16.2% | +8.6% | +9.6% | +43.7% | +45.9% | +167.2% |
Range$290.00M – $1.15B
CAGR+33.6%
Avg YoY Growth+22.6%
Median YoY Growth+9.8%
Current Streak4 quarters growth
CapEx at Other Companies
Frequently Asked Questions
- What is American Express's capex?
- American Express (AXP) reported capex of $1.15B in Q1 2026.
- How has American Express's capex changed year-over-year?
- American Express's capex increased by 167.2% year-over-year, from $430.00M to $1.15B.
- What is the long-term trend for American Express's capex?
- Over 4 years (2021 to 2025), American Express's capex has grown at a 11.8% compound annual growth rate (CAGR), from $1.55B to $2.43B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.