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 26.85% is 395% above its 5-year average of 5.43%, near the high end of its 5-year range (-28.65%–28.63%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.02% above its 12-month average of 25.81%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
26.85%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
25.81%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
22.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
5.43%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
4.29%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+4.02%
CURRENT VS 3Y AVG
+20.56%
CURRENT VS 5Y AVG
+394.60%
CURRENT VS 10Y AVG
+525.68%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · TECHNOLOGY
8.92%
median of 185 covered companies
CURRENT VS SECTOR MEDIAN
+201.00%
vs the sector median at left
AppFolio Inc.
Market Cap
$8.29B
Return on Invested Capital (ROIC)
26.85%
TTM Avg
25.81%
3Y Avg
22.27%
5Y Avg
5.43%
Market Cap
$8.47B
Return on Invested Capital (ROIC)
18.36%
TTM Avg
16.70%
3Y Avg
16.39%
5Y Avg
14.74%
Market Cap
$8.56B
Return on Invested Capital (ROIC)
14.77%
TTM Avg
9.14%
3Y Avg
11.24%
5Y Avg
15.36%
Market Cap
$8.59B
Return on Invested Capital (ROIC)
11.16%
TTM Avg
5.13%
3Y Avg
5.92%
5Y Avg
7.10%
Market Cap
$8.64B
Return on Invested Capital (ROIC)
16.87%
TTM Avg
23.00%
3Y Avg
16.70%
5Y Avg
12.52%
Market Cap
$7.90B
Return on Invested Capital (ROIC)
-2.21%
TTM Avg
-4.08%
3Y Avg
-10.55%
5Y Avg
-11.25%
Market Cap
$7.65B
Return on Invested Capital (ROIC)
-19.12%
TTM Avg
-18.38%
3Y Avg
-20.29%
5Y Avg
-20.97%
Market Cap
$7.57B
Return on Invested Capital (ROIC)
-4.86%
TTM Avg
-11.64%
3Y Avg
-19.22%
5Y Avg
-30.49%
Market Cap
$7.56B
Return on Invested Capital (ROIC)
2.53%
TTM Avg
-2.96%
3Y Avg
-30.48%
5Y Avg
-34.20%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| AppFolio Inc. (APPF) | $8.29B | 26.85% | 25.81% | 22.27% | 5.43% |
| Paylocity Holding Corporation (PCTY)vs › | $8.47B | 18.36% | 16.70% | 16.39% | 14.74% |
| Silicon Motion Technology Corporation (SIMO)vs › | $8.56B | 14.77% | 9.14% | 11.24% | 15.36% |
| FormFactor, Inc. (FORM)vs › | $8.59B | 11.16% | 5.13% | 5.92% | 7.10% |
| InterDigital, Inc. (IDCC)vs › | $8.64B | 16.87% | 23.00% | 16.70% | 12.52% |
| Applied Digital Corp. (APLD)vs › | $7.90B | -2.21% | -4.08% | -10.55% | -11.25% |
| SentinelOne, Inc. (S)vs › | $7.65B | -19.12% | -18.38% | -20.29% | -20.97% |
| GitLab Inc. (GTLB)vs › | $7.57B | -4.86% | -11.64% | -19.22% | -30.49% |
| Zeta Global Holdings Corp. (ZETA)vs › | $7.56B | 2.53% | -2.96% | -30.48% | -34.20% |
| Applied Optoelectronics, Inc. (AAOI)vs › | $9.09B | -3.49% | -11.35% | -13.11% | -12.97% |
ROIC
26.8%
ROE
29.9%
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 | 26.85% |
| 2026-03-31 | 28.63% |
| 2025-12-31 | 21.56% |
| 2025-09-30 | 24.29% |
| 2025-06-30 | 27.73% |
| 2025-03-31 | 26.51% |
| 2024-12-31 | 23.89% |
| 2024-09-30 | 26.01% |
| 2024-06-30 | 23.41% |
| 2024-03-31 | 15.93% |
| 2023-12-31 | 0.15% |
| 2023-09-30 | -15.36% |
| 2023-06-30 | -19.66% |
| 2023-03-31 | -28.65% |
| 2022-12-31 | -22.39% |
| 2022-09-30 | -18.06% |
| 2022-06-30 | -16.03% |
| 2022-03-31 | -6.00% |
| 2021-12-31 | -1.97% |
| 2021-09-30 | -2.02% |
| 2021-06-30 | -0.84% |
| 2021-03-31 | 0.32% |
| 2020-12-31 | 2.31% |
| 2020-09-30 | 3.13% |
| 2020-06-30 | 4.83% |
| 2020-03-31 | 3.61% |
| 2019-12-31 | 2.98% |
| 2019-09-30 | 4.59% |
| 2019-06-30 | 5.48% |
| 2019-03-31 | 9.20% |
| 2018-12-31 | 12.94% |
| 2018-09-30 | 16.58% |
| 2018-06-30 | 17.02% |
| 2018-03-31 | 13.70% |
| 2017-12-31 | 10.75% |
| 2017-09-30 | 6.78% |
| 2017-06-30 | 1.06% |
| 2017-03-31 | -5.90% |
| 2016-12-31 | -11.83% |
| 2016-09-30 | -15.58% |
| 2016-06-30 | -20.02% |
| 2016-03-31 | -21.01% |
| 2015-12-31 | -20.39% |
| 2015-09-30 | -20.27% |
| 2015-06-30 | -15.61% |
| 2015-03-31 | -59.84% |
| 2014-12-31 | -71.89% |
