Maintenance vs Growth Capital Expenditures – A Quick Primer

We may sound like a broken record when talking about ROIC, free cash flow per share, and DCF analysis when valuing a stock. But they are important. Making estimates for future free cash flow and ROIC requires understanding a company’s capital expenditures (capex). Specifically, investors need to understand the difference between growth capex and maintenance capex.  This graphic explains the concept in […]