Capex vs. Budget
Actual capital expenditure as a percentage of the approved capex budget for the period
What is Capex vs. Budget?
Capital expenditure (capex) versus budget compares actual spending on long-term assets with the amount budgeted. It shows whether capital projects are on plan.
Capex is often large and hard to reverse, so tracking it closely protects cash and returns.
How this KPI is measured
- Function
- Finance
- Sub-function
- Budgeting & Forecasting
- Industry
- All Industries
- Type
- Lagging
- Impact
- Financial control
- Unit
- %
- Measurement frequency
- Monthly / Quarterly
- Formula
- (Actual capex / Budgeted capex) × 100
How to calculate it
Divide actual capex by budgeted capex, and multiply by 100.
For example, if actual capex was 4,600,000 against a budget of 5,000,000, the result is 92%.
Look at timing as well as size, since delayed projects can make spending look under budget when it is only postponed.
Where it is used
Controlling capital projects
Track spend against plan.
Managing cash
Forecast outflows.
Improving project estimates
Learn from overruns.
How to improve it
Tips and common mistakes
- Under budget may mean delay, not saving.
- Read with project benefits.
- Separate committed from spent.
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