EVA, Economic Value Added, is the balance after deducting capital expenses from NOPAT. EVA is based on economic profit;

即经济增加值，是扣除资金成本后的税后经营利润余额。

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The consumer does not own the infrastructure, software, or platform in the cloud. He has lower upfront costs, capital expenses, and operating expenses.

消费者不必拥有云中的基础设施、软件或平台，因此降低了前期成本、资本支出和运营成本。

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For a company looking at the cloud as a service, it provides flexibility in both capacities and performance without the need for large up front capital expenses.

对于使用云服务的公司而言，其提供了灵活的容量和性能，而不需要大量的前期资本投入。

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No capital expenses, no vast spikes in maintenance costs, no resource and skill requirements.

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Miller is keeping a tight grip on capital expenses--only 0.8% of sales, versus 4% at the competition.

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The decision however, carries massive capital expenses in an industry that is still not standing on its own feet.

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