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 -23.41% is 33% above its 5-year average of -34.77%, near the high end of its 5-year range (-70.32%–-8.37%).
As of the fiscal period ended Tuesday, June 30, 2026. 34.29% above its 12-month average of -35.63%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): -23.41%.
RETURN ON INVESTED CAPITAL (ROIC)
-23.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
-35.63%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
-47.48%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
-34.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
-30.94%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
-37.53%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+34.29%
CURRENT VS 3Y AVG
+50.69%
CURRENT VS 5Y AVG
+32.67%
CURRENT VS 10Y AVG
+24.33%
CURRENT VS 15Y AVG
+37.61%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · HEALTHCARE
-27.19%
median of 428 covered companies
CURRENT VS SECTOR MEDIAN
+13.89%
vs the sector median at left
Codexis, Inc.
Market Cap
$149.51M
Return on Invested Capital (ROIC)
-23.41%
TTM Avg
-35.63%
3Y Avg
-47.48%
5Y Avg
-34.77%
Market Cap
$152.16M
Return on Invested Capital (ROIC)
-165.56%
TTM Avg
-176.54%
3Y Avg
-127.81%
5Y Avg
-112.12%
Market Cap
$146.66M
Return on Invested Capital (ROIC)
-32.73%
TTM Avg
-84.24%
3Y Avg
-68.85%
5Y Avg
-57.28%
Market Cap
$152.45M
Return on Invested Capital (ROIC)
-27.25%
TTM Avg
-49.08%
3Y Avg
-43.31%
5Y Avg
-52.54%
Market Cap
$153.84M
Return on Invested Capital (ROIC)
-118.67%
TTM Avg
-87.91%
3Y Avg
-55.09%
5Y Avg
-41.64%
Market Cap
$142.49M
Return on Invested Capital (ROIC)
-10.85%
TTM Avg
-101.00%
3Y Avg
-120.85%
5Y Avg
-96.47%
Market Cap
$142.11M
Return on Invested Capital (ROIC)
-50.04%
TTM Avg
-28.33%
3Y Avg
-324.90%
5Y Avg
-237.35%
Market Cap
$137.29M
Return on Invested Capital (ROIC)
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$162.82M
Return on Invested Capital (ROIC)
-56.53%
TTM Avg
-185.89%
3Y Avg
-125.01%
5Y Avg
-88.85%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Codexis, Inc. (CDXS) | $149.51M | -23.41% | -35.63% | -47.48% | -34.77% |
| Cardiol Therapeutics Inc. (CRDL)vs › | $152.16M | -165.56% | -176.54% | -127.81% | -112.12% |
| Immuneering Corporation (IMRX)vs › | $146.66M | -32.73% | -84.24% | -68.85% | -57.28% |
| Anavex Life Sciences Corp. (AVXL)vs › | $152.45M | -27.25% | -49.08% | -43.31% | -52.54% |
| Acumen Pharmaceuticals, Inc. (ABOS)vs › | $153.84M | -118.67% | -87.91% | -55.09% | -41.64% |
| Fortress Biotech, Inc. (FBIOP)vs › | $142.49M | -10.85% | -101.00% | -120.85% | -96.47% |
| Alpha Cognition Inc (ACOG)vs › | $142.11M | -50.04% | -28.33% | -324.90% | -237.35% |
| Freenome, Inc. (FRNM)vs › | $137.29M | N/A | N/A | N/A | N/A |
| ALX Oncology Holdings Inc. (ALXO)vs › | $162.82M | -56.53% | -185.89% | -125.01% | -88.85% |
| AirSculpt Technologies, Inc. (AIRS)vs › | $134.74M | -7.01% | -1.96% | -0.91% | 1.75% |
ROIC
-23.4%
ROE
-93.2%
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 | -23.41% |
| 2026-03-31 | -21.97% |
| 2025-12-31 | -31.30% |
| 2025-09-30 | -54.93% |
| 2025-06-30 | -46.54% |
| 2025-03-31 | -62.15% |
| 2024-12-31 | -46.68% |
| 2024-09-30 | -45.02% |
| 2024-06-30 | -65.44% |
| 2024-03-31 | -46.72% |
| 2023-12-31 | -67.58% |
| 2023-09-30 | -70.32% |
| 2023-06-30 | -35.19% |
| 2023-03-31 | -27.90% |
| 2022-12-31 | -17.33% |
| 2022-09-30 | -15.74% |
| 2022-06-30 | -9.78% |
| 2022-03-31 | -10.66% |
| 2021-12-31 | -10.65% |
| 2021-09-30 | -8.37% |
| 2021-06-30 | -12.55% |
| 2021-03-31 | -13.32% |
| 2020-12-31 | -12.16% |
| 2020-09-30 | -17.82% |
| 2020-06-30 | -11.90% |
| 2020-03-31 | -11.90% |
| 2019-12-31 | -9.39% |
| 2019-09-30 | -9.33% |
| 2019-06-30 | -11.30% |
| 2019-03-31 | -14.34% |
| 2018-12-31 | -18.17% |
| 2018-09-30 | -16.03% |
| 2018-06-30 | -29.73% |
| 2018-03-31 | -88.01% |
| 2017-12-31 | -80.11% |
| 2017-09-30 | -107.67% |
| 2017-06-30 | -48.27% |
| 2017-03-31 | -52.96% |
| 2016-12-31 | -36.79% |
| 2016-09-30 | -20.69% |
| 2016-06-30 | -5.22% |
| 2016-03-31 | -40.62% |
| 2015-12-31 | -26.07% |
| 2015-09-30 | -16.14% |
| 2015-06-30 | -62.81% |
| 2015-03-31 | -61.74% |
| 2014-12-31 | -55.58% |
| 2014-09-30 | -87.05% |
| 2014-06-30 | -99.78% |
| 2014-03-31 | -88.43% |
| 2013-12-31 | -86.37% |
| 2013-09-30 | -82.21% |
| 2013-06-30 | -62.03% |
| 2013-03-31 | -43.35% |
| 2012-12-31 | -36.46% |
| 2012-09-30 | -20.00% |
| 2012-06-30 | -20.25% |
| 2012-03-31 | -19.51% |
| 2011-12-31 | -14.78% |
| 2011-09-30 | -10.27% |
| 2011-06-30 | -10.26% |
| 2011-03-31 | -8.28% |
| 2010-12-31 | -6.26% |
| 2010-09-30 | -10.33% |
| 2010-06-30 | -12.91% |
| 2010-03-31 | -29.79% |
| 2009-12-31 | -36.69% |
| 2009-09-30 | -37.76% |
