Meta vs Microsoft: capital spending
In their latest reported quarters Meta spent $33.9 billion and Microsoft $39.4 billion on capital equipment, 104% and 68% of their operating cash flow. Over four quarters, $104.4 billion against $135.9 billion.
Filings through October 28, 2026. Each company’s latest quarter: Meta Sep 2026, Microsoft Sep 2026.
Quarter by quarter
MetaMicrosoft
Side by side
| Latest reported quarter | Meta | Microsoft |
|---|---|---|
| Quarter | Sep 2026 | Sep 2026 |
| Capital spending | $33.9B | $39.4B |
| Against a year earlier | +80.3% | +103.0% |
| Operating cash flow | $32.8B | $58.0B |
| Free cash flow | −$1.2B | $18.6B |
| Share of operating cash flow | 104% | 68% |
| Four-quarter capital spending | $104.4B | $135.9B |
| Change on prior four | +66.5% | +96.9% |
| Spend to depreciation | 4.7× | — |
| Long-term debt change | −$2.7B | $23.0M |
Company-wide figures from each company’s filings; quarters differ where fiscal calendars differ. Meta and Microsoft each have a full page.