// definition
Capex
Capital expenditure
Short definition
Expenditure to acquire, build or improve long-lived assets such as factories and equipment. The scope of a reported measure needs to be checked: cash investment, assets obtained through leases and future commitments may be disclosed separately. An announced budget describes planned spending; actual expenditure is measured over a specified period.
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Related analyses
Primary sources
- SEC, guide to financial statementsCash flow statements: purchases of long-term assets and cash investment.
- Microsoft, fiscal 2026 fourth-quarter resultsJuly 29 call: distinction between capex, finance leases and cash paid for property, plant and equipment; investment outlook.