Biggest capital spenders, latest fiscal year
The companies that spent the most on property, plants and equipment (capital expenditure: data centers, factories, networks, stores) in their latest fiscal year, from their annual reports to the SEC. 3,969 companies report the figure.
Top 100
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| # | Company | Ticker | Capital spending | Share of revenue | Operating cash flow | Fiscal year ended | Filing |
|---|---|---|---|---|---|---|---|
| 1 | AmazonSeattle | AMZN | $131.8B | 18.4% | $139.5B | Dec 2025 | 10-K |
| 2 | MicrosoftRedmond | MSFT | $115.9B | 34.9% | $182.9B | Jun 2026 | 10-K |
| 3 | Alphabet Inc.Mountain View | GOOGL | $91.4B | 22.7% | $164.7B | Dec 2025 | 10-K |
| 4 | Meta PlatformsMenlo Park | META | $69.7B | 34.7% | $115.8B | Dec 2025 | 10-K |
| 5 | Oracle CorporationAustin | ORCL | $55.7B | 82.6% | $32.0B | May 2026 | 10-K |
| 6 | Micron TechnologyBoise | MU | $30.7B | 23.1% | $89.7B | Sep 2026 | 10-K |
| 7 | ExxonMobilSpring | XOM | $28.4B | 8.5% | $52.0B | Dec 2025 | 10-K |
| 8 | WalmartBentonville | WMT | $26.6B | 3.8% | $41.6B | Jan 2026 | 10-K |
| 9 | Berkshire HathawayOmaha | BRK-B | $20.9B | 8.5% | $46.0B | Dec 2025 | 10-K |
| 10 | AT&TDallas | T | $20.8B | 16.6% | $40.3B | Dec 2025 | 10-K |
| 11 | Chevron CorporationSan Ramon | CVX | $17.3B | 9.4% | $33.9B | Dec 2025 | 10-K |
| 12 | Brookfield CorporationToronto | BN | $14.8B | 374.0% | $2.1B | Dec 2025 | 10-K |
| 13 | IntelSanta Clara | INTC | $14.6B | 27.7% | $9.7B | Dec 2025 | 10-K |
| 14 | Duke EnergyCharlotte | DUK | $14.0B | 44.2% | $12.3B | Dec 2025 | 10-K |
| 15 | Equinor ASAStavanger | EQNR | $14.0B | 13.1% | $20.0B | Dec 2025 | 10-K |
| 16 | Venture Global, Inc.Arlington, United States | VG | $13.4B | 97.1% | $6.6B | Dec 2025 | 10-K |
| 17 | Southern CompanyAtlanta | SO | $12.7B | 43.1% | $9.8B | Dec 2025 | 10-K |
| 18 | Apple Inc.Cupertino | AAPL | $12.7B | 3.1% | $111.5B | Sep 2025 | 10-K |
| 19 | PG&E CorporationSan Francisco | PCG | $11.8B | 47.3% | $8.7B | Dec 2025 | 10-K |
| 20 | ComcastPhiladelphia | CMCSA | $11.8B | 9.5% | $33.6B | Dec 2025 | 10-K |
| 21 | Charter CommunicationsStamford | CHTR | $11.7B | 21.3% | $16.1B | Dec 2025 | 10-K |
| 22 | Cco Holdings LLCStamford, Connecticut | $11.6B | 21.2% | $16.9B | Dec 2025 | 10-K | |
| 23 | Xcel EnergyMinneapolis | XEL | $10.9B | – | $4.1B | Dec 2025 | 10-K |
| 24 | SempraSan Diego | SRE | $10.6B | 85.5% | $4.6B | Dec 2025 | 10-K |
| 25 | Berkshire Hathaway EnergyDes Moines | $10.6B | 40.4% | $8.4B | Dec 2025 | 10-K | |
| 26 | CoreWeave, Inc.Livingston, New Jersey | CRWV | $10.3B | 200.9% | $3.1B | Dec 2025 | 10-K |
| 27 | T-Mobile USBellevue | TMUS | $10.0B | 11.3% | $27.9B | Dec 2025 | 10-K |
| 28 | BHP GroupMelbourne | BHP | $9.4B | 18.3% | $18.7B | Jun 2025 | 10-K |
| 29 | General MotorsDetroit | GM | $9.3B | 5.5% | $26.9B | Dec 2025 | 10-K |
| 30 | Ford Motor CompanyDearborn | F | $8.8B | 4.7% | $21.3B | Dec 2025 | 10-K |
| 31 | ExelonChicago | EXC | $8.5B | 35.2% | $6.3B | Dec 2025 | 10-K |
| 32 | TeslaAustin | TSLA | $8.5B | 9.0% | $14.7B | Dec 2025 | 10-K |
| 33 | The Walt Disney CompanyBurbank | DIS | $8.0B | 8.5% | $18.1B | Sep 2025 | 10-K |
| 34 | EntergyNew Orleans | ETR | $7.7B | 59.4% | $5.2B | Dec 2025 | 10-K |
| 35 | Air Products & ChemicalsDetroit | APD | $7.0B | 58.3% | – | Sep 2025 | 10-K |
| 36 | Citigroup388 Greenwich Street | C | $6.5B | 7.7% | −$67.6B | Dec 2025 | 10-K |
| 37 | Edison InternationalRosemead | EIX | $6.5B | 33.7% | $5.8B | Dec 2025 | 10-K |
| 38 | CostcoIssaquah | COST | $6.4B | 2.1% | $15.8B | Aug 2026 | 10-K |
| 39 | Occidental PetroleumHouston | OXY | $6.4B | 29.8% | $10.5B | Dec 2025 | 10-K |
| 40 | Energy Transfer EquityDallas | ET | $6.3B | 7.4% | $10.1B | Dec 2025 | 10-K |
| 41 | NvidiaSanta Clara | NVDA | $6.0B | 2.8% | $102.7B | Jan 2026 | 10-K |
| 42 | Brookfield Infrastructure PartnersHamilton | BIPH | $6.0B | 26.1% | $6.0B | Dec 2025 | 10-K |
| 43 | AES CorporationArlington County | AES | $5.9B | 48.5% | $4.3B | Dec 2025 | 10-K |
| 44 | United AirlinesChicago | UAL | $5.9B | 9.9% | $8.4B | Dec 2025 | 10-K |
| 45 | Enterprise ProductsHouston | EPD | $5.6B | 10.7% | $8.6B | Dec 2025 | 10-K |
| 46 | Linde GroupDublin | LIN | $5.3B | 15.5% | $10.3B | Dec 2025 | 10-K |
| 47 | ASE Technology Holding Co., Ltd.F5 | ASX | $5.2B | 25.5% | $4.5B | Dec 2025 | 10-K |
| 48 | Royal Caribbean GroupMiami | RCL | $5.2B | 29.2% | $6.5B | Dec 2025 | 10-K |
| 49 | HCA HealthcareNashville | HCA | $4.9B | 6.5% | $12.6B | Dec 2025 | 10-K |
| 50 | Williams CompaniesTulsa | WMB | $4.9B | 32.8% | $5.9B | Dec 2025 | 10-K |
| 51 | CenterPoint EnergyHouston | CNP | $4.9B | 52.2% | $2.5B | Dec 2025 | 10-K |
| 52 | NextDecade CorpHouston, United States | NEXT | $4.8B | – | −$169.4M | Dec 2025 | 10-K |
| 53 | Johnson & JohnsonNew Brunswick | JNJ | $4.8B | 5.1% | $24.5B | Dec 2025 | 10-K |
| 54 | FirstEnergyAkron | FE | $4.7B | 31.2% | $3.7B | Dec 2025 | 10-K |
| 55 | Texas InstrumentsDallas | TXN | $4.5B | 25.7% | $7.2B | Dec 2025 | 10-K |
| 56 | Freeport-McMoRanPhoenix | FCX | $4.5B | 17.8% | $5.6B | Dec 2025 | 10-K |
| 57 | Tennessee Valley AuthorityKnoxville, Tennessee | TVE | $4.5B | – | $3.3B | Sep 2025 | 10-K |
| 58 | PepsiCoPurchase | PEP | $4.4B | 4.7% | $12.1B | Dec 2025 | 10-K |
| 59 | Procter & GambleOhio | PG | $4.4B | 5.1% | $19.6B | Jun 2026 | 10-K |
| 60 | Lumen TechnologiesMonroe | LUMN | $4.4B | 38.5% | $4.7B | Dec 2025 | 10-K |
| 61 | Eversource EnergyBerlin | ES | $4.2B | 30.7% | $4.1B | Dec 2025 | 10-K |
| 62 | AmerenSt. Louis | AEE | $4.1B | 46.9% | $3.4B | Dec 2025 | 10-K |
| 63 | Merck & Co.Rahway | MRK | $4.1B | 6.3% | $16.5B | Dec 2025 | 10-K |
| 64 | Nebius GroupAmsterdam | NBIS | $4.1B | 767.5% | $384.8M | Dec 2025 | 10-K |
| 65 | PPLAllentown | PPL | $4.0B | 43.9% | $2.6B | Dec 2025 | 10-K |
| 66 | KrogerCincinnati | KR | $3.9B | 2.6% | $7.3B | Jan 2026 | 10-K |
| 67 | Barrick Mining CorpA1 | B | $3.8B | 22.5% | $7.7B | Dec 2025 | 10-K |
| 68 | FedExMemphis | FDX | $3.8B | 4.0% | $8.9B | May 2026 | 10-K |
| 69 | Union Pacific CorporationOmaha | UNP | $3.8B | 15.5% | $9.3B | Dec 2025 | 10-K |
| 70 | American Airlines GroupFort Worth | AAL | $3.8B | 6.9% | $3.1B | Dec 2025 | 10-K |
| 71 | Target CorporationMinneapolis | TGT | $3.7B | 3.6% | $6.6B | Jan 2026 | 10-K |
| 72 | United Parcel ServiceSandy Springs | UPS | $3.7B | 4.2% | $8.4B | Dec 2025 | 10-K |
| 73 | The Home DepotCobb County | HD | $3.7B | 2.2% | $16.3B | Feb 2026 | 10-K |
| 74 | Anheuser-Busch InBevBrussels | BUD | $3.7B | 6.2% | $14.9B | Dec 2025 | 10-K |
| 75 | UnitedHealth GroupMinnetonka | UNH | $3.6B | 0.8% | $19.7B | Dec 2025 | 10-K |
| 76 | Carnival CorporationLondon | CCL | $3.6B | 13.6% | $6.2B | Nov 2025 | 10-K |
| 77 | Devon EnergyOklahoma City | DVN | $3.6B | 21.4% | $6.7B | Dec 2025 | 10-K |
| 78 | Atmos EnergyDallas | ATO | $3.6B | 75.7% | $2.0B | Sep 2025 | 10-K |
| 79 | Marathon PetroleumFindlay | MPC | $3.5B | 2.6% | $8.3B | Dec 2025 | 10-K |
| 80 | American Electric PowerColumbus | AEP | $3.5B | 15.9% | $6.9B | Dec 2025 | 10-K |
| 81 | NucorCharlotte | NUE | $3.4B | 10.5% | $3.2B | Dec 2025 | 10-K |
| 82 | McDonald'sChicago | MCD | $3.4B | 12.5% | $10.6B | Dec 2025 | 10-K |
| 83 | Targa Resources Corp.Houston, Texas | TRGP | $3.3B | 19.6% | $3.9B | Dec 2025 | 10-K |
| 84 | Public Service Enterprise GroupNewark | PEG | $3.3B | 26.9% | $3.3B | Dec 2025 | 10-K |
| 85 | Norwegian Cruise Line Holdings Ltd.Miami-Dade County | NCLH | $3.3B | 33.2% | $2.1B | Dec 2025 | 10-K |
| 86 | NCL CORP Ltd.Hamilton, Bermuda | $3.3B | 33.2% | $2.1B | Dec 2025 | 10-K | |
| 87 | Waste Management, IncHouston | WM | $3.2B | 12.8% | $6.0B | Dec 2025 | 10-K |
| 88 | U-Haul Holding CompanyReno | UHAL | $3.2B | 414.3% | $1.8B | Mar 2026 | 10-K |
| 89 | ONEOKTulsa | OKE | $3.2B | 9.4% | $5.6B | Dec 2025 | 10-K |
| 90 | American Water WorksCamden | AWK | $3.1B | 61.0% | $2.1B | Dec 2025 | 10-K |
| 91 | Cheniere EnergyHouston | LNG | $3.1B | 15.8% | $5.5B | Dec 2025 | 10-K |
| 92 | Newmont Mining CorporationDenver | NEM | $3.0B | 13.4% | $10.3B | Dec 2025 | 10-K |
| 93 | Kinder MorganHouston | KMI | $3.0B | 19.9% | $5.9B | Dec 2025 | 10-K |
| 94 | IRENSydney | IREN | $3.0B | 424.0% | $2.1B | Jun 2026 | 10-K |
| 95 | Constellation EnergyBaltimore | CEG | $2.9B | 13.0% | $4.2B | Dec 2025 | 10-K |
| 96 | BoeingChicago | BA | $2.9B | 3.3% | $1.1B | Dec 2025 | 10-K |
| 97 | CSX CorporationJacksonville | CSX | $2.9B | 20.6% | $4.6B | Dec 2025 | 10-K |
| 98 | Applied Digital Corp.Dallas, United States | APLD | $2.9B | 468.8% | $89.7M | May 2026 | 10-K |
| 99 | CVS HealthRhode Island | CVS | $2.8B | 0.7% | $10.6B | Dec 2025 | 10-K |
| 100 | Caterpillar Inc.Irving | CAT | $2.8B | 4.2% | $11.7B | Dec 2025 | 10-K |
Showing the top 100 of 1,000. Download all 1,000 as CSV.
Source: annual reports (Form 10-K) filed with the SEC, read from SEC EDGAR company facts (XBRL). Each company’s latest fiscal year that ended in the last 18 months; only amounts reported in US dollars, so most foreign companies are not included. Each figure links to its filing. Commodity and investment trusts are left out. Capital spending that company facts lack (companies that tag it as “productive assets”, such as Amazon and Nvidia) comes from the full cash flow statement in the SEC Financial Statement and Notes data sets.