CapEx
Walmart CapEx decreased by 3.3% to $4.99B in Q1 2025 compared to the prior quarter. Year-over-year, this metric grew by 6.6%, from $4.68B to $4.99B. Over 3 years (FY 2022 to FY 2025), CapEx shows an upward trend with a 22.0% CAGR.
Analysis
How to read this metric
High levels indicate aggressive growth or maintenance investment, while low levels may signal capital efficiency or underinvestment in infrastructure.
Detailed definition
Capital expenditures represent the cash outflows used to acquire, upgrade, or maintain physical assets such as property,...
Peer comparison
Commonly reported as 'Capital Expenditures' or 'Purchases of Property, Plant, and Equipment' in the investing section of the cash flow statement.
anet_capital_expendituresHistorical Data
| 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 | $2.21B | $5.28B | $4.57B | $1.05B | $3.54B | $5.68B | $5.46B | $2.18B | $4.43B | $6.08B | $6.19B | $3.91B | $4.68B | $6.73B | $7.22B | $5.16B | $4.99B |
| QoQ Change | — | +138.4% | -13.4% | -77.1% | +238.7% | +60.4% | -3.9% | -60.0% | +102.9% | +37.2% | +1.8% | -36.8% | +19.6% | +44.0% | +7.2% | -28.6% | -3.3% |
| YoY Change | — | — | — | — | +59.8% | +7.6% | +19.5% | +108.9% | +25.1% | +7.1% | +13.4% | +79.1% | +5.6% | +10.8% | +16.6% | +31.9% | +6.6% |
Business Segments
| Segment | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Walmart U.S. | $3.55B | $4.03B | $4.22B | $4.67B | $3.77B | $4.78B | $5.48B | $6.13B |
| Walmart International | $461.00M | $754.00M | $952.00M | $1.01B | $481.00M | $746.00M | $801.00M | $1.17B |
| Total | $4.68B | $6.73B | $7.22B | $5.16B | $4.99B | — | — | — |
Sam's Club is derived from annual filings.
Sam's Club was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
CapEx at Other Companies
Frequently Asked Questions
- What is Walmart 's capex?
- Walmart (WMT) reported capex of $4.99B in Q1 2025.
- How has Walmart 's capex changed year-over-year?
- Walmart 's capex increased by 6.6% year-over-year, from $4.68B to $4.99B.
- What is the long-term trend for Walmart 's capex?
- Over 3 years (2022 to 2025), Walmart 's capex has grown at a 22.0% compound annual growth rate (CAGR), from $13.11B to $23.78B.
- What does capex mean?
- Cash spent on purchasing or maintaining long-term physical assets.