Estimating Maintenance CAPEX

How would you go about estimating maintenance CAPEX? I am currently analyzing Hexcel and the typical method of finding out Gross PPE/Sales ratio and then multiplying that by increase in sales to get growth CAPEX yields excessively optimistic Owner's Earnings as the company has very high PPE.

What other ways are there to get a growth (and then the maintenance CAPEX)? What are you using in your research?

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Estimating Maintenance CAPEX

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