Biggest capex spenders (2026)
The 100 companies below have a combined market cap of $38.3T; the best performer of 2026 is DELL (+351.3% YTD). The largest capital-expenditure budgets in absolute dollars — where the AI build-out actually shows up. Not investment advice.
End of day 2026-09-18 · 100 entries · digits update live during market hours
Combined market cap
$38.3T
100 entries
Median YTD return
+3.6%
2026
Best of 2026
+351.3%
DELL
Worst of 2026
-38.6%
CHTR
Top 100 by TTM capital expenditures
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All 100Communication ServicesConsumer DiscretionaryConsumer StaplesEnergyFinancialsHealthcareIndustrialsMaterialsReal EstateTechnologyUtilities
Columns (13 shown)
| # Company | CategoryCategory | 1Y1Y chart | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AMZNAmazon.com | Consumer Discretionary | $253.71 | +1.00% | -2.2% | +3.8% | +9.9% | +9.7% | +46.5% | $173B | $-11625M | $776B | $2.74T | |
| GOOGLAlphabet | Communication Services | $349.54 | +0.64% | +1.6% | -5.0% | +11.7% | +38.7% | +148.3% | $132B | $53B | $446B | $4.27T | |
| MSFTMicrosoft | Technology | $493.78 | -0.80% | +2.5% | +30.1% | +2.1% | -2.9% | +64.7% | $116B | $67B | $332B | $3.67T | |
| METAMeta Platforms | Communication Services | $665.75 | -2.43% | +22.5% | +15.3% | +0.9% | -14.7% | +82.5% | $89B | $41B | $228B | $1.70T | |
| ORCLOracle | Technology | $147.61 | -1.98% | +3.4% | -19.9% | -24.3% | -50.2% | +70.9% | $76B | $-28720M | $72B | $446B | |
| WMTWalmart | Consumer Staples | $106.73 | -0.06% | -7.4% | -8.9% | -4.2% | +3.0% | +121.2% | $29B | $14B | $728B | $847B | |
| XOMExxon Mobil | Energy | $163.54 | +0.17% | -1.2% | +18.7% | +35.9% | +43.5% | +196.5% | $29B | $31B | $369B | $672B | |
| MUMicron Technology | Technology | $1,015.80 | +3.92% | +8.0% | -10.4% | +255.9% | +501.5% | +1267.2% | $25B | $26B | $90B | $1.15T | |
| BRK-BBerkshire Hathaway | Financials | $509.77 | +0.11% | +1.4% | +4.1% | +1.4% | +3.9% | +84.2% | $22B | $24B | $385B | $1.09T | |
| TAT&T | Communication Services | $25.40 | +0.04% | +2.0% | +15.4% | +2.3% | -13.0% | +22.2% | $22B | — | $127B | $174B | |
| CRWVCoreWeave | Technology | $81.36 | +1.85% | -12.7% | -31.0% | +13.6% | -33.0% | — | $21B | $-13655M | $8B | $45B | |
| CVXChevron | Energy | $209.51 | -0.97% | +1.8% | +20.7% | +37.5% | +31.9% | +116.5% | $18B | $27B | — | $414B | |
| VZVerizon Communications | Communication Services | $48.09 | -0.50% | -0.9% | +6.0% | +18.1% | +10.1% | -11.4% | $17B | $22B | $139B | $200B | |
| DUKDuke Energy | Utilities | $117.53 | -0.85% | -5.2% | -5.1% | +0.3% | -2.4% | +17.9% | $16B | $-4274M | $33B | $92B | |
| SOMNSouthern Company 2025 Series A Corporate Units | Utilities | $45.87 | -0.95% | -6.5% | -6.2% | -8.9% | — | — | $14B | $-3269M | $30B | $53B | |
| SOSouthern | Utilities | $85.52 | -1.43% | -7.1% | -8.1% | -1.9% | -6.5% | +33.3% | $14B | $-3269M | $30B | $98B | |
| VGVenture Global | Utilities | $14.02 | -2.77% | -1.3% | +27.2% | +105.6% | +1.3% | — | $14B | $-6990M | $17B | $35B | |
| TSLATesla | Consumer Discretionary | $364.27 | -0.53% | +8.1% | -9.0% | -19.0% | -12.6% | +43.9% | $13B | $6B | $104B | $1.44T | |
| XELXcel Energy | Utilities | $72.30 | -1.81% | -8.7% | -6.6% | -2.1% | +0.2% | +13.0% | $12B | $-7692M | $15B | $45B | |
| PCGPacific Gas & Electric | Utilities | $13.20 | -1.35% | -25.9% | -19.9% | -17.9% | -11.4% | +34.1% | $12B | $-4263M | $26B | $29B | |
| CHTRCharter Communications | Communication Services | $128.17 | -3.90% | -13.6% | +1.5% | -38.6% | -51.1% | -83.2% | $12B | $4B | $54B | $15B | |
| INTCIntel | Technology | $108.60 | -0.18% | +12.3% | -18.9% | +194.3% | +255.3% | +100.1% | $12B | $3B | $57B | $548B | |
| CMCSAComcast | Communication Services | $22.74 | -0.74% | -13.2% | +1.4% | -18.8% | -23.3% | -57.5% | $12B | $20B | $125B | $81B | |
| SREDBA Sempra | Utilities | $81.31 | -1.06% | -6.7% | -10.3% | -7.9% | -1.4% | +21.9% | $11B | $-5243M | $14B | $53B | |
| TMUST-Mobile US | Communication Services | $168.18 | +1.04% | -8.0% | -7.4% | -17.2% | -29.6% | +31.4% | $10B | $18B | $92B | $180B | |
| AAPLApple | Technology | $336.13 | -0.26% | +8.4% | +12.8% | +23.6% | +41.3% | +130.1% | $10B | $137B | $467B | $4.91T | |
| FFord Motor | Consumer Discretionary | $13.21 | -2.94% | -5.2% | -6.0% | +0.7% | +12.5% | -2.5% | $10B | $7B | $188B | $53B | |
| EXCExelon | Utilities | $42.07 | -1.34% | -7.2% | -8.2% | -3.5% | -2.4% | +18.3% | $9B | $-1916M | $25B | $43B | |
| ETREntergy | Utilities | $102.01 | -1.26% | -5.6% | -8.2% | +10.4% | +16.1% | +83.7% | $9B | $-2973M | $13B | $48B | |
| GMGeneral Motors | Consumer Discretionary | $82.20 | -5.10% | -1.8% | +3.7% | +1.1% | +38.7% | +60.1% | $9B | $14B | $186B | $72B | |
| DISWalt Disney | Communication Services | $102.67 | -2.54% | -1.2% | -1.2% | -9.8% | -10.6% | -44.0% | $9B | $8B | $99B | $177B | |
| ENBEnbridge | Energy | $48.73 | -0.04% | -5.2% | -10.7% | +1.9% | -0.8% | +22.9% | $8B | $1B | $60B | $106B | |
| NVDANVIDIA | Technology | $222.27 | +1.34% | +1.2% | +5.5% | +19.2% | +26.1% | +914.9% | $7B | $127B | $303B | $5.36T | |
| RCLRoyal Caribbean Cruises | Consumer Discretionary | $245.81 | -1.57% | -18.1% | -21.3% | -11.9% | -24.6% | +193.4% | $7B | $-416M | $19B | $66B | |
| ETEnergy Transfer | Utilities | $21.14 | +0.43% | -1.3% | +12.7% | +28.2% | +21.2% | +132.3% | $7B | $5B | $107B | $73B | |
| EIXEdison International | Utilities | $55.31 | -0.34% | -24.9% | -23.1% | -7.8% | -0.5% | -4.2% | $7B | $-389M | $19B | $21B | |
| AESAES | Utilities | $14.83 | -0.13% | +0.6% | +1.4% | +3.4% | +14.5% | -39.7% | $7B | $-1720M | $13B | $11B | |
| UALUnited Airlines Holdings | Industrials | $108.71 | +0.99% | -8.4% | -8.1% | -2.8% | +3.2% | +144.1% | $6B | $3B | $63B | $35B | |
| CCitigroup | Financials | $131.77 | -0.70% | -4.3% | -7.9% | +12.9% | +28.7% | +88.4% | $6B | $-24511M | $91B | $221B | |
| COSTCostco Wholesale | Consumer Staples | $895.31 | +0.15% | -6.9% | -5.9% | +3.8% | -6.0% | +94.8% | $6B | $9B | $294B | $397B | |
| OXYOccidental Petroleum | Energy | $58.84 | -0.76% | -1.6% | +13.5% | +43.1% | +24.2% | +118.4% | $6B | $5B | $21B | $59B | |
| WMBWilliams Companies | Energy | $72.05 | +0.33% | -4.1% | -1.5% | +19.9% | +19.3% | +185.0% | $6B | $-108M | $15B | $88B | |
| LINLinde | Materials | $460.40 | +0.42% | -3.8% | -10.1% | +8.0% | -3.3% | +48.8% | $6B | $5B | $35B | $212B | |
| EPDEnterprise Products Partners | Utilities | $38.89 | +1.14% | +0.6% | +6.3% | +21.3% | +22.2% | +76.8% | $5B | $3B | $58B | $84B | |
| JNJJohnson & Johnson | Healthcare | $269.99 | -0.09% | -0.4% | +18.2% | +30.5% | +55.0% | +63.9% | $5B | $22B | $98B | $651B | |
| CNPCenterPoint Energy Inc (Holding Co) | Utilities | $38.22 | -0.88% | -5.7% | -10.7% | -0.3% | +0.4% | +56.4% | $5B | $-2695M | $10B | $38B | |
| HCAHCA Healthcare | Healthcare | $427.71 | -0.31% | +3.9% | +14.0% | -8.4% | +6.6% | +65.3% | $5B | $6B | $78B | $93B | |
| FEFirstEnergy | Utilities | $45.26 | -1.03% | -4.2% | -2.6% | +1.1% | +4.2% | +23.2% | $5B | $-1954M | $16B | $26B | |
| APDAir Products and Chemicals | Materials | $284.18 | -0.68% | -6.3% | +1.4% | +15.0% | -2.8% | +8.5% | $5B | — | $13B | $63B | |
| EQIXEquinix | Real Estate | $1,021.34 | -0.45% | -5.9% | -6.5% | +33.3% | +30.1% | +17.0% | $5B | $-998M | $10B | $101B | |
| AEEAmeren | Utilities | $102.23 | -1.61% | -6.8% | -5.9% | +2.4% | +3.6% | +22.3% | $5B | $-1400M | $9B | $28B | |
| PPLPPL | Utilities | $33.34 | -0.77% | -6.4% | -5.8% | -4.8% | -6.3% | +16.2% | $5B | $-1992M | $10B | $25B | |
| DALDelta Air Lines | Industrials | $79.62 | +0.24% | -7.1% | -5.4% | +14.7% | +33.9% | +98.5% | $4B | $4B | $68B | $52B | |
| PGProcter & Gamble | Consumer Staples | $146.39 | -0.79% | +2.0% | -2.7% | +2.1% | -6.9% | +1.4% | $4B | $15B | $87B | $340B | |
| KRKroger | Consumer Staples | $60.00 | -1.23% | +6.5% | +6.0% | -4.0% | -9.1% | +46.6% | $4B | $2B | $149B | $35B | |
| FCXFreeport-McMoRan | Materials | $71.54 | +0.97% | +7.9% | +4.2% | +40.9% | +59.2% | +116.5% | $4B | $2B | $25B | $103B | |
| TGTTarget | Consumer Staples | $158.19 | -1.03% | +3.7% | +21.0% | +61.8% | +76.9% | -35.9% | $4B | $4B | $108B | $72B | |
| FTSFortis | Utilities | $54.10 | -0.70% | -4.2% | -3.5% | +4.2% | +10.8% | +20.1% | $4B | $-1346M | $9B | $27B | |
| MPCMarathon Petroleum | Energy | $424.89 | +0.69% | +16.0% | +74.9% | +161.3% | +129.6% | +621.9% | $4B | $13B | $154B | $119B | |
| PEPPepsiCo | Consumer Staples | $129.75 | -2.93% | -7.4% | -8.6% | -9.6% | -7.8% | -15.8% | $4B | $9B | $97B | $177B | |
| ESEversource Energy (D/B/A) | Utilities | $67.72 | -1.84% | -6.2% | -2.7% | +0.6% | +6.0% | -18.7% | $4B | $298M | $14B | $26B | |
| AALAmerican Airlines Group | Consumer Discretionary | $12.96 | +0.15% | -7.8% | -18.9% | -15.5% | +3.0% | -34.3% | $4B | $285M | $58B | $9B | |
| NBISNebius Group | Technology | $223.54 | +2.55% | -10.0% | -22.0% | +167.1% | +137.5% | — | $4B | $-3681M | $530M | $57B | |
| ATOAtmos Energy | Utilities | $160.30 | -1.07% | -6.0% | -5.8% | -4.4% | -1.3% | +79.9% | $4B | $-2020M | $5B | $27B | |
| MRKMerck | Healthcare | $146.87 | -0.19% | +8.7% | +29.0% | +39.5% | +80.1% | +104.9% | $4B | $16B | $67B | $362B | |
| CEGConstellation Energy | Utilities | $254.71 | -3.08% | -4.5% | -7.1% | -27.9% | -21.1% | — | $4B | $309M | $31B | $90B | |
| DVNDevon Energy | Energy | $48.61 | -0.23% | +1.6% | +15.4% | +32.7% | +38.8% | +63.2% | $4B | $5B | $20B | $46B | |
| BABoeing | Industrials | $198.20 | +0.61% | -11.1% | -11.0% | -8.7% | -8.1% | -7.1% | $4B | $-210M | $94B | $157B | |
| FDXFedEx | Industrials | $303.65 | -0.73% | -7.5% | -6.9% | +30.5% | +66.4% | +47.6% | $4B | $5B | $95B | $72B | |
| UNPUnion Pacific | Industrials | $279.37 | -1.10% | -6.5% | +8.8% | +20.8% | +26.8% | +38.7% | $4B | $7B | $25B | $166B | |
| HDHome Depot | Consumer Discretionary | $299.98 | -0.84% | -11.1% | -10.3% | -12.8% | -28.1% | -10.6% | $4B | $15B | $169B | $299B | |
| FANGDiamondback Energy | Energy | $192.42 | -2.30% | -8.4% | +4.9% | +28.0% | +36.8% | +132.9% | $4B | $6B | $17B | $54B | |
| CCLCarnival | Consumer Discretionary | $21.84 | -1.49% | -19.9% | -29.3% | -28.5% | -30.6% | -7.3% | $4B | $3B | $27B | $30B | |
| DELLDell Technologies | Technology | $568.06 | -3.46% | +21.2% | +38.7% | +351.3% | +330.0% | +1014.9% | $4B | $9B | $151B | $361B | |
| MCDMcDonald's | Consumer Discretionary | $248.24 | -0.10% | -7.0% | -10.9% | -18.8% | -17.6% | +2.4% | $4B | $8B | $28B | $176B | |
| TRGPTarga Resources | Energy | $292.19 | +2.50% | -1.9% | +13.0% | +58.4% | +71.8% | +548.7% | $4B | $741M | $17B | $63B | |
| DLRDigital Realty Trust | Real Estate | $182.12 | -1.16% | -6.7% | -3.2% | +17.7% | +6.3% | +16.1% | $3B | $-507M | $7B | $69B | |
| AXPAmerican Express | Financials | $311.56 | +0.13% | -8.0% | -7.8% | -15.8% | -8.8% | +90.1% | $3B | $15B | $76B | $210B | |
| UPSUnited Parcel Service | Industrials | $99.06 | -1.11% | -2.8% | -5.5% | -0.1% | +16.5% | -47.9% | $3B | $5B | $90B | $84B | |
| AEPAmerican Electric Power | Utilities | $120.00 | -1.33% | -5.0% | -6.0% | +4.1% | +12.7% | +42.7% | $3B | $4B | $23B | $65B | |
| UNHUnitedHealth Group | Healthcare | $376.90 | +0.45% | -4.3% | -6.0% | +14.2% | +12.6% | -10.3% | $3B | $24B | $450B | $338B | |
| KMIKinder Morgan | Energy | $31.84 | +1.69% | -3.1% | +0.8% | +15.8% | +15.1% | +99.5% | $3B | $3B | $18B | $71B | |
| NINiSource | Utilities | $40.58 | -0.81% | -3.7% | -14.1% | -2.8% | +1.0% | +68.9% | $3B | $-1086M | $7B | $19B | |
| EVRGEvergy | Utilities | $79.78 | -1.31% | -4.4% | -3.3% | +10.1% | +11.9% | +24.3% | $3B | $-1406M | $6B | $18B | |
| AWKAmerican Water Works | Utilities | $135.90 | -1.69% | -0.3% | +8.7% | +4.1% | +0.4% | -23.7% | $3B | $-1030M | $5B | $27B | |
| LNGCheniere Energy | Utilities | $268.34 | -0.56% | -2.0% | +18.2% | +38.0% | +14.5% | +208.7% | $3B | $3B | — | $55B | |
| PEGPublic Service Enterprise Group | Utilities | $69.77 | -1.70% | -7.7% | -12.7% | -13.1% | -14.1% | +12.7% | $3B | $276M | $13B | $35B | |
| TXNTexas Instruments | Technology | $266.64 | +3.29% | -2.1% | -17.4% | +53.7% | +46.8% | +35.9% | $3B | $5B | $19B | $244B | |
| NCLHNorwegian Cruise Line Holdings | Consumer Discretionary | $14.12 | -1.88% | -19.8% | -30.9% | -36.7% | -44.4% | -44.8% | $3B | $-1185M | $10B | $6B | |
| OKEONEOK | Energy | $93.46 | +0.26% | -3.7% | +9.9% | +27.2% | +27.0% | +69.4% | $3B | $3B | $39B | $59B | |
| CVSCVS Health | Healthcare | $88.84 | -1.58% | -6.4% | -9.6% | +11.9% | +19.4% | +3.9% | $3B | $12B | $415B | $114B | |
| IRENIREN | Financials | $46.68 | +7.36% | +11.1% | -22.1% | +23.6% | +28.5% | — | $3B | $-898M | $707M | $17B | |
| LUVSouthwest Airlines | Industrials | $40.98 | +1.59% | -3.6% | -14.6% | -0.8% | +27.0% | -16.5% | $3B | $-455M | $30B | $20B | |
| EXEExpand Energy | Energy | $87.49 | -0.95% | -8.3% | +0.6% | -20.7% | -11.5% | +43.3% | $3B | $3B | $14B | $20B | |
| WMWaste Management | Industrials | $211.10 | -1.05% | -5.6% | -1.6% | -3.9% | -2.2% | +38.3% | $3B | $4B | $26B | $84B | |
| VTRVentas | Real Estate | $86.69 | -1.16% | -4.9% | +6.2% | +12.0% | +27.5% | +51.8% | $3B | — | $6B | $44B | |
| NEMNewmont | Materials | $123.41 | -0.79% | +6.4% | +18.9% | +23.6% | +57.6% | +123.5% | $3B | $10B | $26B | $130B | |
| CATCaterpillar | Industrials | $808.99 | +1.30% | -3.8% | -17.9% | +41.2% | +73.2% | +305.0% | $3B | $11B | $75B | $372B | |
| VSTVistra | Utilities | $140.67 | -2.01% | +0.1% | -14.1% | -12.8% | -33.1% | +690.7% | $3B | $2B | $19B | $47B | |
| NUENucor | Materials | $248.38 | -6.32% | -6.0% | +1.9% | +52.3% | +84.9% | +136.8% | $3B | $2B | $36B | $56B |
Methodology
Trailing-twelve-month capital expenditures in absolute dollars, from SEC cash-flow statements. Absolute rather than as a percentage of revenue on purpose — this is the list where the AI data-centre build-out is visible as a dollar figure.
Performance columns are price returns: the change in the split-adjusted share price, the way quote screens report it, through the latest print during the session. Dividends are not reinvested. Fundamentals come from company filings via our EDGAR pipeline. Past performance does not predict future returns; this is not investment advice.
FAQ#
- Which company spends the most on capex?
- Amazon.com Inc. (AMZN) has the largest capital-expenditure budget of any US-listed company — about $173B over the trailing twelve months.
- What are the top 10 companies by capital expenditures?
- The 10 biggest capex spenders (TTM): 1. AMZN $173B, 2. GOOGL $132B, 3. MSFT $116B, 4. META $89B, 5. ORCL $76B, 6. WMT $29B, 7. XOM $29B, 8. MU $25B, 9. BRK-B $22B, 10. T $22B.
- What counts as capital expenditures?
- Capital expenditures are cash spent on property, plant and equipment — datacenters, fabs, networks, stores. Big capex depresses free cash flow today in exchange for capacity tomorrow, which is why the same AI build-out that shrinks a company's FCF shows up here first.
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