What does Capex PS mean?
This measures the amount of capital expenditure which the company incurs in order to maintain its operating assets. It is calculated as the Capital Expenditure from the Statement of CashFlows divided by the Average Shares Outstanding for the same period.
Stockopedia explains Capex PS...
Ideally a company should, over time, be generating a positive "free cash flow" net of this number, in order to fund its dividend payments.
One possible adjustment worth considering is to strip property investment from this figure in order to get a closer approximation of the ongoing maintenance capex.
