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 7.53% is in line with its 5-year average of 7.28%, around the middle of its 5-year range (5.15%–8.88%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.91% below its 12-month average of 7.60%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 7.53%.
RETURN ON INVESTED CAPITAL (ROIC)
7.53%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
7.60%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
7.38%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
7.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
7.17%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.53%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.09%
CURRENT VS TTM AVG
-0.91%
CURRENT VS 3Y AVG
+2.07%
CURRENT VS 5Y AVG
+3.52%
CURRENT VS 10Y AVG
+5.14%
CURRENT VS 15Y AVG
+15.34%
CURRENT VS 20Y AVG
+23.76%
SECTOR MEDIAN · CONSUMER CYCLICAL
6.75%
median of 217 covered companies
CURRENT VS SECTOR MEDIAN
+11.61%
vs the sector median at left
Churchill Downs Incorporated
Market Cap
$5.53B
Return on Invested Capital (ROIC)
7.53%
TTM Avg
7.60%
3Y Avg
7.38%
5Y Avg
7.28%
Market Cap
$5.50B
Return on Invested Capital (ROIC)
18.24%
TTM Avg
16.35%
3Y Avg
18.66%
5Y Avg
19.45%
Market Cap
$5.44B
Return on Invested Capital (ROIC)
7.19%
TTM Avg
5.48%
3Y Avg
4.37%
5Y Avg
4.22%
Market Cap
$5.38B
Return on Invested Capital (ROIC)
38.84%
TTM Avg
-11.77%
3Y Avg
6.89%
5Y Avg
10.63%
Market Cap
$5.68B
Return on Invested Capital (ROIC)
18.10%
TTM Avg
19.37%
3Y Avg
19.61%
5Y Avg
26.64%
Market Cap
$5.73B
Return on Invested Capital (ROIC)
5.62%
TTM Avg
6.91%
3Y Avg
8.54%
5Y Avg
8.63%
Market Cap
$5.86B
Return on Invested Capital (ROIC)
7.22%
TTM Avg
6.23%
3Y Avg
5.01%
5Y Avg
8.15%
Market Cap
$5.03B
Return on Invested Capital (ROIC)
7.01%
TTM Avg
7.91%
3Y Avg
7.83%
5Y Avg
7.56%
Market Cap
$6.05B
Return on Invested Capital (ROIC)
6.91%
TTM Avg
7.30%
3Y Avg
7.07%
5Y Avg
5.26%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Churchill Downs Incorporated (CHDN) | $5.53B | 7.53% | 7.60% | 7.38% | 7.28% |
| Frontdoor, Inc. (FTDR)vs › | $5.50B | 18.24% | 16.35% | 18.66% | 19.45% |
| The Cheesecake Factory Incorporated (CAKE)vs › | $5.44B | 7.19% | 5.48% | 4.37% | 4.22% |
| H&R Block, Inc. (HRB)vs › | $5.38B | 38.84% | -11.77% | 6.89% | 10.63% |
| Crocs, Inc. (CROX)vs › | $5.68B | 18.10% | 19.37% | 19.61% | 26.64% |
| LKQ Corporation (LKQ)vs › | $5.73B | 5.62% | 6.91% | 8.54% | 8.63% |
| Macy's, Inc. (M)vs › | $5.86B | 7.22% | 6.23% | 5.01% | 8.15% |
| Vail Resorts, Inc. (MTN)vs › | $5.03B | 7.01% | 7.91% | 7.83% | 7.56% |
| Caesars Entertainment, Inc. (CZR)vs › | $6.05B | 6.91% | 7.30% | 7.07% | 5.26% |
| Mobileye Global Inc. (MBLY)vs › | $6.07B | -4.61% | -14.97% | -7.58% | -5.33% |
ROIC
7.5%
ROE
30.6%
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 | 7.53% |
| 2026-03-31 | 7.37% |
| 2025-12-31 | 7.28% |
| 2025-09-30 | 7.61% |
| 2025-06-30 | 8.22% |
| 2025-03-31 | 8.20% |
| 2024-12-31 | 8.03% |
| 2024-09-30 | 7.89% |
| 2024-06-30 | 7.76% |
| 2024-03-31 | 6.81% |
| 2023-12-31 | 6.68% |
| 2023-09-30 | 6.48% |
| 2023-06-30 | 6.08% |
| 2023-03-31 | 5.99% |
| 2022-12-31 | 5.15% |
| 2022-09-30 | 6.34% |
| 2022-06-30 | 6.50% |
| 2022-03-31 | 8.88% |
| 2021-12-31 | 8.60% |
| 2021-09-30 | 7.88% |
| 2021-06-30 | 7.54% |
| 2021-03-31 | 3.64% |
| 2020-12-31 | 2.68% |
| 2020-09-30 | 1.48% |
| 2020-06-30 | 0.71% |
| 2020-03-31 | 4.49% |
| 2019-12-31 | 6.80% |
| 2019-09-30 | 7.16% |
| 2019-06-30 | 7.15% |
| 2019-03-31 | 6.91% |
| 2018-12-31 | 10.01% |
| 2018-09-30 | 10.90% |
| 2018-06-30 | 12.37% |
| 2018-03-31 | 12.88% |
| 2017-12-31 | 8.75% |
| 2017-09-30 | 7.36% |
| 2017-06-30 | 7.27% |
| 2017-03-31 | 6.91% |
| 2016-12-31 | 6.94% |
| 2016-09-30 | 5.63% |
| 2016-06-30 | 5.43% |
| 2016-03-31 | 4.48% |
| 2015-12-31 | 4.35% |
| 2015-09-30 | 3.22% |
| 2015-06-30 | 3.15% |
| 2015-03-31 | 2.61% |
| 2014-12-31 | 2.69% |
| 2014-09-30 | 5.39% |
| 2014-06-30 | 5.63% |
| 2014-03-31 | 4.99% |
| 2013-12-31 | 5.08% |
| 2013-09-30 | 5.76% |
| 2013-06-30 | 6.74% |
| 2013-03-31 | 6.77% |
| 2012-12-31 | 6.68% |
| 2012-09-30 | 8.12% |
| 2012-06-30 | 8.38% |
| 2012-03-31 | 7.26% |
| 2011-12-31 | 7.79% |
| 2011-09-30 | 6.45% |
| 2011-06-30 | 5.93% |
| 2011-03-31 | 4.58% |
| 2010-12-31 | 2.54% |
| 2010-09-30 | 2.61% |
| 2010-06-30 | 1.91% |
| 2010-03-31 | 2.67% |
| 2009-12-31 | 3.36% |
| 2009-09-30 | 4.19% |
| 2009-06-30 | 5.07% |
| 2009-03-31 | 4.87% |
| 2008-12-31 | 6.09% |
| 2008-09-30 | 6.13% |
| 2008-06-30 | 6.37% |
| 2008-03-31 | 6.09% |
| 2007-12-31 | 5.23% |
| 2007-09-30 | 6.41% |
| 2007-06-30 | 6.51% |
| 2007-03-31 | 9.15% |
| 2006-12-31 | 6.93% |
| 2006-09-30 | 5.15% |
| 2006-06-30 | 5.37% |
| 2006-03-31 | 3.08% |
| 2005-12-31 | 2.30% |
| 2005-09-30 | 3.66% |
| 2005-06-30 | 1.93% |
| 2005-03-31 | 2.72% |
| 2004-12-31 | 7.06% |
| 2004-09-30 | 6.00% |
| 2004-06-30 | 7.95% |
| 2004-03-31 | 11.79% |
| 2003-12-31 | 6.49% |
| 2003-09-30 | 7.32% |
| 2003-06-30 | 7.71% |
