What is SES AI's capex?

SES AI (SES) reported capex of $330K in Q1 2026.

How has SES AI's capex changed year-over-year?

SES AI's capex decreased by 64.0% year-over-year, from $916K to $330K.

What is the long-term trend for SES AI's capex?

Over 4 years (2021 to 2025), SES AI's capex has grown at a -24.8% compound annual growth rate (CAGR), from $8.95M to $2.86M.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

SES AI SES CapEx

CapEx at other companies

QuantumScape Corporation QS

$9.98M+71.0%

SLD

Solid PowerSLDP

$1.67M-29.0%

Enovix CorporationENVX

$3.22M-48.7%

Amprius TechnologiesAMPX

$980K+7.3%

Microvast Holdings, Inc.MVST

$2.86M+21.7%

American Battery Technology CompanyABAT

$6.72M+1,268%

Other financials

Income statement

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Revenue$6.7M+15.8%

Gross profit$1.2M-73.3%

Operating income-$17.9M+23.2%

Net income-$12.1M+2.7%

EPS (diluted)-$0.040.0%

Balance sheet

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Cash & equivalents$46.9M-16.3%

Total debt$7.7M-18.9%

Total equity$203.2M-24.7%

Total assets$253.5M-17.1%

Cash flow

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Operating cash flow-$19.8M+13.3%

Free cash flow-$20.1M+15.2%

Valuation

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Market cap$325.08M+5.5%

Enterprise value$285.86M+9.3%

P/S14.8×-27.2×

Profitability

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Gross margin36.3%-39.1pp

Operating margin-352.3%-153pp

Net margin-331.7%-142pp

FCF margin-262.8%-115pp

Returns & leverage

See full

Return on equity-30.7%-0.7pp

Debt / equity0×0.0×

Current ratio6.9×-8.8×

Where this comes from

Reported directly by SES AI in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: SES AI’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SES AI's capex?: SES AI (SES) reported capex of $330K in Q1 2026.
How has SES AI's capex changed year-over-year?: SES AI's capex decreased by 64.0% year-over-year, from $916K to $330K.
What is the long-term trend for SES AI's capex?: Over 4 years (2021 to 2025), SES AI's capex has grown at a -24.8% compound annual growth rate (CAGR), from $8.95M to $2.86M.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.