Maintenance capex
Fundamental analysisThe capital spending needed just to keep the business running at its current level.
In plain terms
Separate it from growth capex. One is a cost of survival, the other an investment decision.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Capex
AccountingCapital expenditure — cash spent acquiring or maintaining long-term assets.
In plain terms
Growth capex builds the future; maintenance capex just stops the present from falling apart.