Capital Cash Flow (CapEx) is the cash that a company spends on acquiring or maintaining its long-term assets, such as property, plant, and equipment. This includes the cost of new purchases, as well as the cost of maintaining and repairing existing assets.

Free Cash Flow (FCF) is the cash that a company generates after paying its operating expenses and making capital expenditures. This is the cash that is available to investors, such as shareholders and debtholders.

The main difference between CapEx and FCF is that CapEx is a measure of how much money a company is spending on its long-term assets, while FCF is a measure of how much money a company is generating after paying its operating expenses and making capital expenditures.

Another difference between CapEx and FCF is that CapEx is a cash outflow, while FCF is a cash inflow. This means that CapEx reduces a company's cash balance, while FCF increases a company's cash balance.

CapEx and FCF are both important measures of a company's financial health. CapEx shows how much money a company is investing in its future, while FCF shows how much money a company is generating from its current operations.

However, CapEx and FCF are not the same thing. CapEx is a measure of how much money a company is spending, while FCF is a measure of how much money a company is generating.

Here is an example to illustrate the difference between CapEx and FCF:

• A company has $100 million in revenue, $50 million in operating expenses, and $20 million in capital expenditures.
• The company's FCF is $30 million ($100 million in revenue - $50 million in operating expenses - $20 million in capital expenditures).
• The company's CapEx is $20 million.

As you can see, the company's FCF is $30 million, while its CapEx is $20 million. This means that the company is generating $30 million in cash after paying its operating expenses and making capital expenditures.