Basis: Trailing twelve months (TTM), to the latest fiscal quarter end. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the return on invested capital (ROIC) high or low?
The return on invested capital (ROIC) of 8.56% is 16% above its 5-year average of 7.38%, around the middle of its 5-year range (0.87%–12.45%).
As of the fiscal period ended Tuesday, June 30, 2026. 19.10% above its 12-month average of 7.19%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 8.56%.
RETURN ON INVESTED CAPITAL (ROIC)
8.56%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
7.19%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.35%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
7.38%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
11.61%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
9.10%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
9.51%
CURRENT VS TTM AVG
+19.10%
CURRENT VS 3Y AVG
+60.12%
CURRENT VS 5Y AVG
+15.91%
CURRENT VS 10Y AVG
-26.29%
CURRENT VS 15Y AVG
-5.95%
CURRENT VS 20Y AVG
-10.03%
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+4.77%
vs the sector median at left
Advanced Energy Industries, Inc.
Market Cap
$11.50B
Return on Invested Capital (ROIC)
8.56%
TTM Avg
7.19%
3Y Avg
5.35%
5Y Avg
7.38%
Market Cap
$11.54B
Return on Invested Capital (ROIC)
5.70%
TTM Avg
-0.53%
3Y Avg
-4.07%
5Y Avg
-3.84%
Market Cap
$11.45B
Return on Invested Capital (ROIC)
18.77%
TTM Avg
17.83%
3Y Avg
16.55%
5Y Avg
16.46%
Market Cap
$11.77B
Return on Invested Capital (ROIC)
90.92%
TTM Avg
58.33%
3Y Avg
55.49%
5Y Avg
48.77%
Market Cap
$11.82B
Return on Invested Capital (ROIC)
10.06%
TTM Avg
11.79%
3Y Avg
12.68%
5Y Avg
12.05%
Market Cap
$12.02B
Return on Invested Capital (ROIC)
23.78%
TTM Avg
20.59%
3Y Avg
21.97%
5Y Avg
19.23%
Market Cap
$12.12B
Return on Invested Capital (ROIC)
2.70%
TTM Avg
0.52%
3Y Avg
-5.02%
5Y Avg
-10.45%
Market Cap
$12.54B
Return on Invested Capital (ROIC)
15.06%
TTM Avg
10.65%
3Y Avg
4.36%
5Y Avg
-0.27%
Market Cap
$12.85B
Return on Invested Capital (ROIC)
7.31%
TTM Avg
6.11%
3Y Avg
8.46%
5Y Avg
9.85%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Advanced Energy Industries, Inc. (AEIS) | $11.50B | 8.56% | 7.19% | 5.35% | 7.38% |
| HubSpot, Inc. (HUBS)vs › | $11.54B | 5.70% | -0.53% | -4.07% | -3.84% |
| Jack Henry & Associates, Inc. (JKHY)vs › | $11.45B | 18.77% | 17.83% | 16.55% | 16.46% |
| Manhattan Associates, Inc. (MANH)vs › | $11.77B | 90.92% | 58.33% | 55.49% | 48.77% |
| Nova Ltd. (NVMI)vs › | $11.82B | 10.06% | 11.79% | 12.68% | 12.05% |
| Gartner, Inc. (IT)vs › | $12.02B | 23.78% | 20.59% | 21.97% | 19.23% |
| Grab Holdings Limited (GRAB)vs › | $12.12B | 2.70% | 0.52% | -5.02% | -10.45% |
| DocuSign, Inc. (DOCU)vs › | $12.54B | 15.06% | 10.65% | 4.36% | -0.27% |
| Amkor Technology, Inc. (AMKR)vs › | $12.85B | 7.31% | 6.11% | 8.46% | 9.85% |
| GoDaddy Inc. (GDDY)vs › | $12.99B | 20.64% | 17.70% | 14.37% | 11.89% |
ROIC
8.6%
ROE
15.1%
ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)
Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2026-06-30 | 8.56% |
| 2026-03-31 | 9.17% |
| 2025-12-31 | 7.32% |
| 2025-09-30 | 6.67% |
| 2025-06-30 | 4.21% |
| 2025-03-31 | 3.35% |
| 2024-12-31 | 1.89% |
| 2024-09-30 | 0.87% |
| 2024-06-30 | 2.56% |
| 2024-03-31 | 3.32% |
| 2023-12-31 | 5.07% |
| 2023-09-30 | 6.14% |
| 2023-06-30 | 10.36% |
| 2023-03-31 | 11.52% |
| 2022-12-31 | 12.02% |
| 2022-09-30 | 11.91% |
| 2022-06-30 | 9.24% |
| 2022-03-31 | 9.14% |
| 2021-12-31 | 9.36% |
| 2021-09-30 | 9.94% |
| 2021-06-30 | 12.45% |
| 2021-03-31 | 12.09% |
| 2020-12-31 | 10.99% |
| 2020-09-30 | 8.87% |
| 2020-06-30 | 5.68% |
| 2020-03-31 | 4.28% |
| 2019-12-31 | 3.72% |
| 2019-09-30 | 3.77% |
| 2019-06-30 | 9.98% |
| 2019-03-31 | 15.41% |
| 2018-12-31 | 20.74% |
| 2018-09-30 | 16.29% |
| 2018-06-30 | 20.97% |
| 2018-03-31 | 21.34% |
| 2017-12-31 | 21.98% |
| 2017-09-30 | 28.76% |
| 2017-06-30 | 27.05% |
| 2017-03-31 | 25.96% |
| 2016-12-31 | 24.31% |
| 2016-09-30 | 19.96% |
| 2016-06-30 | 18.87% |
| 2016-03-31 | -35.62% |
| 2015-12-31 | -37.48% |
| 2015-09-30 | -40.52% |
| 2015-06-30 | -42.12% |
| 2015-03-31 | 7.82% |
| 2014-12-31 | 7.07% |
| 2014-09-30 | 10.10% |
| 2014-06-30 | 8.24% |
| 2014-03-31 | 4.26% |
| 2013-12-31 | 2.69% |
| 2013-09-30 | 0.02% |
| 2013-06-30 | 1.60% |
| 2013-03-31 | 5.31% |
| 2012-12-31 | 4.12% |
| 2012-09-30 | 2.56% |
| 2012-06-30 | 3.02% |
| 2012-03-31 | 4.19% |
| 2011-12-31 | 8.13% |
| 2011-09-30 | 12.80% |
| 2011-06-30 | 15.19% |
| 2011-03-31 | 15.36% |
| 2010-12-31 | 13.21% |
| 2010-09-30 | 9.18% |
| 2010-06-30 | 2.79% |
| 2010-03-31 | -3.15% |
| 2009-12-31 | -33.34% |
| 2009-09-30 | -37.65% |
| 2009-06-30 | -33.50% |
| 2009-03-31 | -25.42% |
| 2008-12-31 | 1.86% |
| 2008-09-30 | 4.77% |
| 2008-06-30 | 4.95% |
| 2008-03-31 | 6.17% |
| 2007-12-31 | 7.46% |
| 2007-09-30 | 14.29% |
| 2007-06-30 | 17.61% |
| 2007-03-31 | 18.96% |
| 2006-12-31 | 18.77% |
| 2006-09-30 | 15.20% |
| 2006-06-30 | 10.69% |
| 2006-03-31 | 6.48% |
| 2005-12-31 | 3.33% |
| 2005-09-30 | -4.19% |
| 2005-06-30 | -3.31% |
| 2005-03-31 | -2.34% |
| 2004-12-31 | -0.44% |
| 2004-09-30 | 3.15% |
| 2004-06-30 | 3.60% |
| 2004-03-31 | -0.66% |
| 2003-12-31 | -6.41% |
| 2003-09-30 | -16.30% |
| 2003-06-30 | -15.07% |