Discontinued — last reported Q4 '25
CapEx
InvestingMicrosoft CapEx increased by 54.0% to $29.88B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 89.0%, from $15.80B to $29.88B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 43.3% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2007
Last reportedQ4 2025
How to read this metric
An increase signals aggressive investment in future capacity and growth, particularly in infrastructure-heavy businesses like cloud computing.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hyperscale cloud competitors like Amazon (AWS) and Alphabet (Google Cloud) show high CapEx relative to revenue to maintain competitive infrastructure.
Metric ID:
cf_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 | $6.59B | $5.81B | $5.87B | $5.34B | $7.22B | $6.28B | $6.27B | $6.61B | $13.05B | $9.92B | $9.74B | $10.95B | $19.78B | $14.92B | $15.80B | $16.75B | $32.53B | $19.39B | $29.88B |
| QoQ Change | — | -11.8% | +0.9% | -9.0% | +35.1% | -12.9% | -0.1% | +5.3% | +97.4% | -24.0% | -1.8% | +12.5% | +80.6% | -24.5% | +5.9% | +6.0% | +94.2% | -40.4% | +54.0% |
| YoY Change | — | — | — | — | +9.6% | +8.1% | +7.0% | +23.7% | +80.8% | +57.8% | +55.2% | +65.8% | +51.6% | +50.5% | +62.3% | +52.9% | +64.5% | +30.0% | +89.0% |
Range$5.34B – $32.53B
CAGR+39.9%
Avg YoY Growth+47.2%
Median YoY Growth+52.9%
CapEx at Other Companies
Frequently Asked Questions
- What is Microsoft's capex?
- Microsoft (MSFT) reported capex of $29.88B in Q4 2025.
- How has Microsoft's capex changed year-over-year?
- Microsoft's capex increased by 89.0% year-over-year, from $15.80B to $29.88B.
- What is the long-term trend for Microsoft's capex?
- Over 4 years (2021 to 2025), Microsoft's capex has grown at a 43.3% compound annual growth rate (CAGR), from $23.35B to $98.54B.
- What does capex mean?
- Money spent on buying or improving long-term physical assets like buildings and computers.