Biggest CapEx Financial Services Stocks
Top financial services companies ranked by capital expenditures, latest annual filings.
What Capital Expenditures Mean for Financial Services Companies
Capital expenditures look unusual in financial services because the sector's core inputs are not physical assets but balance sheet capital, deposits, and regulatory reserves. Banks, insurers, and asset managers do spend on branches, headquarters, and technology platforms, but the figure is small relative to their balance sheets. Capex intensity here reflects technology modernization and distribution footprint rather than industrial-style reinvestment.
Why It Matters Less in Financial Services
The dominant investment pressure in financial services is ongoing digital transformation, which captures capex on cloud migration, mobile platforms, cybersecurity, and fraud analytics. Even so, capex is a weak proxy for total technology investment because much of that spend is now operating expense in the form of software subscriptions and cloud fees. A low capex figure can mask substantial digital investment that flows through operating costs instead.
What to Read Alongside
Read capex alongside Net Income for the profit that branches and platforms ultimately support, Revenue for operating scale, and Return on Equity for how efficiently deployed capital produces earnings in this balance-sheet-driven sector.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | BN | Brookfield Corporation | Financial Services | $14.75B | $84.78B |
| 2 | C | Citigroup Inc. | Financial Services | $6.52B | $222.60B |
| 3 | IREN | IREN Limited | Financial Services | $3.00B | $18.61B |
| 4 | AXP | American Express Company | Financial Services | $2.42B | $211.77B |
| 5 | GS | The Goldman Sachs Group, Inc. | Financial Services | $2.06B | $279.35B |
| 6 | COF | Capital One Financial Corporation | Financial Services | $1.58B | $125.72B |
| 7 | BK | Bank of New York Mellon Corp | Financial Services | $1.55B | $94.14B |
| 8 | BNY | The Bank of New York Mellon Corporation | Financial Services | $1.55B | $104.42B |
| 9 | V | Visa Inc. | Financial Services | $1.48B | $694.53B |
| 10 | HSBC | HSBC Holdings plc | Financial Services | $1.45B | $353.20B |
| 11 | GLXY | Galaxy Digital | Financial Services | $1.19B | $5.07B |
| 12 | WULF | TeraWulf Inc. | Financial Services | $1.06B | $8.71B |
| 13 | STT | State Street Corporation | Financial Services | $1.05B | $50.66B |
| 14 | PYPL | PayPal Holdings, Inc. | Financial Services | $0.85B | $45.01B |
| 15 | HDB | HDFC Bank Limited | Financial Services | $0.78B | $121.53B |
| 16 | FCNCA | First Citizens BancShares, Inc. | Financial Services | $0.71B | $23.96B |
| 17 | FITB | Fifth Third Bancorp | Financial Services | $0.58B | $48.35B |
| 18 | L | Loews Corporation | Financial Services | $0.58B | $21.82B |
| 19 | LPLA | LPL Financial Holdings Inc. | Financial Services | $0.57B | $26.16B |
| 20 | SCHW | The Charles Schwab Corporation | Financial Services | $0.55B | $184.83B |
| 21 | MA | Mastercard Incorporated | Financial Services | $0.49B | $497.27B |
| 22 | MARA | MARA Holdings, Inc. | Financial Services | $0.41B | $5.13B |
| 23 | BLK | BlackRock, Inc. | Financial Services | $0.38B | $168.85B |
| 24 | ICE | Intercontinental Exchange, Inc. | Financial Services | $0.37B | $87.22B |
| 25 | PGR | The Progressive Corporation | Financial Services | $0.35B | $123.18B |
| 26 | MCO | Moody's Corporation | Financial Services | $0.33B | $80.91B |
| 27 | TRU | TransUnion | Financial Services | $0.33B | $13.68B |
| 28 | MMC | Marsh & McLennan Companies, Inc. | Financial Services | $0.29B | $89.51B |
| 29 | BTBT | Bit Digital, Inc. | Financial Services | $0.29B | $0.66B |
| 30 | TROW | T. Rowe Price Group, Inc. | Financial Services | $0.27B | $22.32B |
| 31 | HBAN | Huntington Bancshares Incorporated | Financial Services | $0.27B | $32.41B |
| 32 | AX | Axos Financial, Inc. | Financial Services | $0.27B | $5.14B |
| 33 | NDAQ | Nasdaq, Inc. | Financial Services | $0.27B | $52.93B |
| 34 | AON | Aon plc | Financial Services | $0.26B | $61.69B |
| 35 | SOFI | SoFi Technologies, Inc. | Financial Services | $0.24B | $21.92B |
| 36 | AFRM | Affirm Holdings, Inc. | Financial Services | $0.24B | $23.97B |
| 37 | AIZ | Assurant, Inc. | Financial Services | $0.24B | $13.68B |
| 38 | KB | KB Financial Group Inc. | Financial Services | $0.23B | $45.36B |
| 39 | WTW | Willis Towers Watson Public Limited Company | Financial Services | $0.23B | $28.49B |
| 40 | ALL | The Allstate Corporation | Financial Services | $0.23B | $61.41B |
| 41 | WF | Woori Financial Group Inc. | Financial Services | $0.23B | $19.52B |
| 42 | JEF | Jefferies Financial Group Inc. | Financial Services | $0.21B | $11.03B |
| 43 | MKL | Markel Group Inc. | Financial Services | $0.21B | $21.99B |
| 44 | RIOT | Riot Platforms, Inc. | Financial Services | $0.20B | $9.07B |
| 45 | FRHC | Freedom Holdings Corp. | Financial Services | $0.20B | $11.11B |
| 46 | BPOP | Popular, Inc. | Financial Services | $0.20B | $10.37B |
| 47 | SPGI | S&P Global Inc. | Financial Services | $0.20B | $119.24B |
| 48 | FAF | First American Financial Corporation | Financial Services | $0.19B | $7.07B |
| 49 | RJF | Raymond James Financial, Inc. | Financial Services | $0.19B | $31.78B |
| 50 | HIG | The Hartford Insurance Group, Inc. | Financial Services | $0.17B | $35.41B |
| 51 | BOKF | BOK Financial Corporation | Financial Services | $0.16B | $8.09B |
| 52 | AMP | Ameriprise Financial, Inc. | Financial Services | $0.16B | $47.32B |
| 53 | BEN | Franklin Templeton Inc. | Financial Services | $0.15B | $17.09B |
| 54 | MORN | Morningstar, Inc. | Financial Services | $0.15B | $7.56B |
| 55 | CFR | Cullen/Frost Bankers, Inc. | Financial Services | $0.15B | $9.87B |
| 56 | GL | Globe Life Inc. | Financial Services | $0.14B | $13.23B |
| 57 | HAPN | Happen, Inc. | Financial Services | $0.14B | $1.87B |
| 58 | LC | LendingClub Corporation | Financial Services | $0.14B | $2.22B |
| 59 | UNM | Unum Group | Financial Services | $0.13B | $14.81B |
| 60 | ZION | Zions Bancorporation, National Association | Financial Services | $0.12B | $9.48B |
| 61 | BX | Blackstone Inc. | Financial Services | $0.12B | $94.89B |
| 62 | ERIE | Erie Indemnity Company | Financial Services | $0.12B | $12.34B |
| 63 | FDS | FactSet Research Systems Inc. | Financial Services | $0.11B | $10.10B |
| 64 | KEY | KeyCorp | Financial Services | $0.11B | $22.27B |
| 65 | FNB | F.N.B. Corporation | Financial Services | $0.11B | $6.38B |
| 66 | PUK | Prudential plc | Financial Services | $0.10B | $32.41B |
| 67 | BITF | Bitfarms Ltd | Financial Services | $0.10B | $1.19B |
| 68 | CG | The Carlyle Group Inc. | Financial Services | $0.10B | $14.56B |
| 69 | RKT | Rocket Companies, Inc. | Financial Services | $0.09B | $35.00B |
| 70 | CNA | CNA Financial Corporation | Financial Services | $0.09B | $12.93B |
| 71 | IVZ | Invesco Ltd. | Financial Services | $0.08B | $13.85B |
| 72 | CME | CME Group Inc. | Financial Services | $0.08B | $99.07B |
| 73 | EVR | Evercore Inc. | Financial Services | $0.07B | $10.35B |
| 74 | NTRS | Northern Trust Corporation | Financial Services | $0.07B | $32.74B |
| 75 | STC | Stewart Information Services Corporation | Financial Services | $0.07B | $1.92B |
| 76 | GDOT | Green Dot Corporation | Financial Services | $0.07B | $0.75B |
| 77 | SSB | SouthState Bank Corporation | Financial Services | $0.07B | $10.00B |
| 78 | BNT | Brookfield Wealth Solutions Ltd. | Financial Services | $0.07B | $11.31B |
| 79 | CBU | Community Financial System, Inc. | Financial Services | $0.07B | $3.21B |
| 80 | BRO | Brown & Brown, Inc. | Financial Services | $0.07B | $21.52B |
| 81 | QCRH | QCR Holdings, Inc. | Financial Services | $0.07B | $1.63B |
| 82 | SF | Stifel Financial Corp. | Financial Services | $0.06B | $11.43B |
| 83 | MCY | Mercury General Corporation | Financial Services | $0.06B | $5.56B |
| 84 | OWL | Blue Owl Capital Inc. | Financial Services | $0.06B | $6.85B |
| 85 | SNV | Synovus Financial Corp. | Financial Services | $0.06B | $6.95B |
| 86 | FCFS | FirstCash Holdings, Inc. | Financial Services | $0.05B | $9.37B |
| 87 | KNSL | Kinsale Capital Group, Inc. | Financial Services | $0.05B | $8.16B |
| 88 | CBSH | Commerce Bancshares, Inc. | Financial Services | $0.05B | $8.11B |
| 89 | WTFC | Wintrust Financial Corporation | Financial Services | $0.05B | $9.92B |
| 90 | WBS | Webster Financial Corp | Financial Services | $0.05B | $12.57B |
| 91 | UMBF | UMB Financial Corporation | Financial Services | $0.05B | $10.14B |
| 92 | BANF | BancFirst Corporation | Financial Services | $0.05B | $3.68B |
| 93 | ENVA | Enova International, Inc. | Financial Services | $0.05B | $4.27B |
| 94 | PJT | PJT Partners Inc. | Financial Services | $0.05B | $3.87B |
| 95 | CRVL | CorVel Corporation | Financial Services | $0.05B | $3.63B |
| 96 | ONB | Old National Bancorp | Financial Services | $0.04B | $9.66B |
| 97 | ACGL | Arch Capital Group Ltd. | Financial Services | $0.04B | $32.68B |
| 98 | TW | Tradeweb Markets Inc. | Financial Services | $0.04B | $22.04B |
| 99 | BWIN | The Baldwin Insurance Group, Inc. | Financial Services | $0.04B | $3.09B |
| 100 | MSCI | MSCI Inc. | Financial Services | $0.04B | $40.64B |
No companies match this search.
How this ranking is built
Companies are ranked by capital expenditures as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.