Secular Shifts
per Credit Suisse
- Increased R&D spending, opposed to Capex
Capital Deployment
- Organic (Capex, R&D) – Increased output, increase market size, new products
- Inorganic (M&A)
- Shareholder Returns (Dividends, Buybacks)
Corporate Life Cycle
- Increasing returnsĀ & reinvestment (growth)
- Diminishing returns (fading)
- Average returns (mature)
- Below average returns (restructure)
Deployment Considerations
per Credit Suisse