What is AT&T's capex?

AT&T (T) reported capex of $4.88B in Q1 2026.

How has AT&T's capex changed year-over-year?

AT&T's capex increased by 14.0% year-over-year, from $4.28B to $4.88B.

What is the long-term trend for AT&T's capex?

Over 4 years (2021 to 2025), AT&T's capex has grown at a 7.6% compound annual growth rate (CAGR), from $15.55B to $20.84B.

What does capex mean?

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

AT&T T CapEx

CapEx at other companies

Lumen TechnologiesLUMN

$943M+19.2%

Dycom IndustriesDY

$70.32M-11.6%

Motorola Solutions, Inc.MSI

$62M+67.6%

Digital TurbineAPPS

$7.45M+7.2%

Shenandoah TelecomSHEN

$75.82M-8.9%

SBA CommunicationsSBAC

$48.4M+4.8%

Other financials

Income statement

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Revenue$31.5B+2.9%

Operating income$6.7B+15.7%

Net income$3.8B-12.0%

EPS (diluted)$0.54-11.5%

Balance sheet

See full

Cash & equivalents$12.0B+73.8%

Total debt$157.31B+9.6%

Total assets$421.19B+6.0%

Cash flow

See full

Operating cash flow$7.6B-16.1%

Free cash flow$2.7B-43.0%

Valuation

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Market cap$155.78B-22.0%

Enterprise value$301.13B-10.5%

P/E7.3×-9.6×

P/S1.2×-0.4×

Profitability

See full

Gross margin93%—

Operating margin19.8%+4.4pp

Net margin16.9%+7.3pp

FCF margin13.7%-2.1pp

Returns & leverage

See full

Current ratio0.9×+0.2×

Where this comes from

Reported directly by AT&T in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquireProductiveAssets.

The official record: AT&T’s 10-Q, filed April 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AT&T's capex?: AT&T (T) reported capex of $4.88B in Q1 2026.
How has AT&T's capex changed year-over-year?: AT&T's capex increased by 14.0% year-over-year, from $4.28B to $4.88B.
What is the long-term trend for AT&T's capex?: Over 4 years (2021 to 2025), AT&T's capex has grown at a 7.6% compound annual growth rate (CAGR), from $15.55B to $20.84B.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.