$re = '/.*CXX_COMPILER__(\w+)_.+?((?:\/.+)+) \|\|.*/';
$str = 'build test/testfoo/CMakeFiles/testfoo2.dir/testfoo2.cpp.o: CXX_COMPILER__testfoo2_Debug /home/juxeii/projects/gtest-cmake-example/test/testfoo/testfoo2.cpp || cmake_object_order_depends_target_testfoo2
';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php