Gartner Says CFOs Plan Bigger Investments in M&A and Capital Projects to Drive Growth in 2027

CFOs plan bigger investments in M&A and capital expenditure to drive growth in 2027, as improving confidence in the wider economy fails to translate into stronger organic growth expectations, according to Gartner, Inc., a business and technology insights company.

“Fifty three percent of CFOs view the external environment as favorable, up from 39% a year ago, yet only 43% expect organic revenue growth above 5%, down from 67%,” said Vaughan Archer, Senior Director Analyst in the Gartner Finance Practice. “A healthier economy does not automatically translate into stronger customer demand or sales volumes, particularly while customer preferences shift and pricing power is constrained.”

The survey of 150 CFOs and senior finance leaders at organizations with at least $250 million in annual revenue, conducted from August 17 to September 17, 2026, found that 50% have a revenue-impacting acquisition in their planning horizon, up from 32% a year earlier. Meanwhile, 69% expect capital expenditure to increase in 2027, compared with 56% in the prior survey (see Figure 1).

“CFOs are building capital plans around the growth levers they can control more directly,” said Archer. “With organic growth expectations weakening, acquisitions and capital expenditure are taking on greater importance in their plans for 2027.”

CFOs are planning increased investment while continuing to face pressure on margins. The research found that direct labor and other input costs are expected to rise, while many organizations may have limited scope to offset those increases through higher prices.

“The challenge for CFOs will be to protect the investments most likely to drive future growth without allowing rising costs to undermine financial performance,” said Archer. “That will require more deliberate choices about where to invest, where to optimize and where to pull back.”