Investing
CapEx
International Business Machines CapEx decreased by 39.3% to $232.00M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 4.9%, from $244.00M to $232.00M. Over 4 years (FY 2021 to FY 2025), CapEx shows a downward trend with a -14.7% 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 | $560.00M | $558.00M | $450.00M | $281.00M | $339.00M | $317.00M | $409.00M | $300.00M | $364.00M | $281.00M | $300.00M | $239.00M | $220.00M | $286.00M | $303.00M | $244.00M | $210.00M | $255.00M | $382.00M | $232.00M |
| QoQ Change | — | -0.4% | -19.4% | -37.6% | +20.6% | -6.5% | +29.0% | -26.7% | +21.3% | -22.8% | +6.8% | -20.3% | -7.9% | +30.0% | +5.9% | -19.5% | -13.9% | +21.4% | +49.8% | -39.3% |
| YoY Change | — | — | — | — | -39.5% | -43.2% | -9.1% | +6.8% | +7.4% | -11.4% | -26.7% | -20.3% | -39.6% | +1.8% | +1.0% | +2.1% | -4.5% | -10.8% | +26.1% | -4.9% |
Range$210.00M – $560.00M
CAGR-16.9%
Avg YoY Growth-10.3%
Median YoY Growth-7.0%
CapEx at Other Companies
Frequently Asked Questions
- What is International Business Machines's capex?
- International Business Machines (IBM) reported capex of $232.00M in Q1 2026.
- How has International Business Machines's capex changed year-over-year?
- International Business Machines's capex decreased by 4.9% year-over-year, from $244.00M to $232.00M.
- What is the long-term trend for International Business Machines's capex?
- Over 4 years (2021 to 2025), International Business Machines's capex has grown at a -14.7% compound annual growth rate (CAGR), from $2.06B to $1.09B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.