CapEx
AT&T CapEx decreased by 28.1% to $4.88B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 14.0%, from $4.28B to $4.88B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 6.0% CAGR.
Analysis
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.
capital_expendituresHistorical Data
| 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 | $3.96B | $4.70B | $3.83B | $4.75B | $4.73B | $5.92B | $4.23B | $4.34B | $4.27B | $4.65B | $4.60B | $3.76B | $4.36B | $5.30B | $6.84B | $4.28B | $4.90B | $4.89B | $6.78B | $4.88B |
| QoQ Change | — | +18.8% | -18.6% | +23.9% | -0.4% | +25.2% | -28.6% | +2.5% | -1.5% | +8.8% | -1.0% | -18.3% | +16.0% | +21.6% | +29.1% | -37.5% | +14.5% | -0.2% | +38.8% | -28.1% |
| YoY Change | — | — | — | — | +19.4% | +25.9% | +10.4% | -8.7% | -9.7% | -21.5% | +8.8% | -13.3% | +2.1% | +14.1% | +48.7% | +13.8% | +12.3% | -7.8% | -0.9% | +14.0% |
Business Segments
| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Communications | $3.55B | $4.20B | $5.21B | $6.39B | $4.05B | $4.63B | $4.56B | $6.36B |
| Latin America | $58.00M | $43.00M | $56.00M | $112.00M | $71.00M | $54.00M | $63.00M | $88.00M |
| Total | $3.76B | $4.36B | $5.30B | $6.84B | $4.28B | $4.90B | $4.89B | $6.78B |
Communications, Latin America were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
CapEx at Other Companies
Frequently Asked Questions
- 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 6.0% compound annual growth rate (CAGR), from $16.53B to $20.84B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.