Data factor play an increasingly important role in economic life, but the relevant research on how to measure data asset investment and measure data capital stock is still relatively weak. This paper uses the data of all listed companies in China’s Shanghai and Shenzhen markets, adjusts the important parameters of the perpetual inventory method according to the characteristics of data capital, and uses geometric, hyperbolic, linear age efficiency functions, combined with different exit modes, to estimate the data capital stock of various industries and the overall in China from 2010 to 2020. Research findings: first, under the geometric path, China’s data capital stock increased from 0.95trillion yuan in 2010 to 6.11trillion yuan in 2020, with an average annual growth rate of 20.46%. There are some differences in the data capital stock values under the three paths, but they always maintain a rapid upward trend and the change trend is the same. From the perspective of internal structure, the data capital stock of information transmission, computer services, software industry and manufacturing industry is higher than that of other industries; Second, the introduction of major policies to support the development of data factor has significantly promoted the increase of China’s data capital stock; Third, compared with developed countries, China’s data capital stock foundation is relatively weak, but the growth rate is faster.