Mr Bearbull 

How to spend it

Mr Bearbull

Mr Bearbull
How to spend it

Maybe it’s just me, but I’m still reeling from the sheer amount of capital expenditure (capex) that the UK’s water companies need to do (Bearbull, 26 April 2019). As a result of their ultra-heavy capex, these companies are in danger of drowning in their own debt. More generally, this raises the questions of what is the optimum level of capex for any company and how should we assess a company depending on how much capital spending it does?

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