HomeCapEx Efficiency and the Race Against Depreciation
D&A ÷ Cloud Revenue (Company-Wide D&A ÷ Cloud Segment Revenue)
D&A ÷ Cloud Revenue (Company-Wide D&A ÷ Cloud Segment Revenue)#
D&A as a share of cloud revenue is falling, so the cloud is monetizing faster than depreciation arrives; worry only if it turns up.Draft, pending review
How to read this chart
The numerator includes non-cloud depreciation, so read the trend rather than the level.
Source: FinSight compilation and estimates · Updated 2026-09-03
↩ This chart lives on the pages2-efficiency-csp-04