It has been determined through CAPEX studies that companies that have established capital planning and delivery maturity achieve a higher shareholder return and significantly higher return on gross fixed assets (ROGFA).  In addition, these same companies achieve higher revenue growth and lower CAPEX intensiveness (CAPEX/sales).

The below link contains the 2006-2009 results from this study as applied to PAETEC, Abovenet, ITC Deltacom, RCN, Global Crossing, TW Telecom, XO Communications, Cogent and Level 3.

https://silveroakadvisors.files.wordpress.com/2010/08/clec-and-ixc-rogfa-12-31-2009.pdf

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