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1). The Importance of Maintenance Cap-Ex By : Geoff Gannon
Copyright 2006 Geoff Gannon
Maintenance Cap-Ex
The nice thing about having low capital spending, is the pleasant surprise it creates. You find a company that is earning more (economically) than other companies with the same GAAP numbers. So, the P/E ratio tends to exaggerate how expensive the business is.
This is kind of like finding a business with excess cash.
Article Related to: cap-ex, depreciation, gaap, advertising, tangible, intangible, assets, value, investor, investing, finance, stock, market
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