Capital expenses do not affect profits for the reporting period they happen in. It is true that after that reporting period there is a depreciation cost applied to take account of loss of value of an asset.

For example, if a company buys a distribution center, it will not expense the cost of the distribution center as an expense. But as time goes on it will expense a depreciation expense that accounts for the loss of value of the distribution center as the building gets older, less useful, etc. But buildings last for a long time, and a building with the land it is on never actually goes down to a value of zero. So not all expenses associated with the distribution center will be applied over time.

So capitalizing something definitely helps you get more income.