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 10.22% is 34% below its 5-year average of 15.41%, near the low end of its 5-year range (10.22%–20.27%).
As of the fiscal period ended Tuesday, June 30, 2026. 8.05% below its 12-month average of 11.11%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 10.22%.
RETURN ON INVESTED CAPITAL (ROIC)
10.22%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
11.11%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
12.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
15.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
16.40%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
15.76%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
15.13%
CURRENT VS TTM AVG
-8.05%
CURRENT VS 3Y AVG
-21.10%
CURRENT VS 5Y AVG
-33.69%
CURRENT VS 10Y AVG
-37.68%
CURRENT VS 15Y AVG
-35.14%
CURRENT VS 20Y AVG
-32.47%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+16.86%
vs the sector median at left
Edwards Lifesciences Corporation
Market Cap
$49.69B
Return on Invested Capital (ROIC)
10.22%
TTM Avg
11.11%
3Y Avg
12.95%
5Y Avg
15.41%
Market Cap
$48.80B
Return on Invested Capital (ROIC)
11.88%
TTM Avg
12.59%
3Y Avg
13.58%
5Y Avg
12.74%
Market Cap
$50.65B
Return on Invested Capital (ROIC)
3.72%
TTM Avg
4.38%
3Y Avg
4.32%
5Y Avg
3.88%
Market Cap
$47.81B
Return on Invested Capital (ROIC)
4.52%
TTM Avg
3.25%
3Y Avg
5.37%
5Y Avg
7.01%
Market Cap
$51.58B
Return on Invested Capital (ROIC)
13.45%
TTM Avg
12.41%
3Y Avg
9.39%
5Y Avg
5.98%
Market Cap
$45.64B
Return on Invested Capital (ROIC)
6.79%
TTM Avg
3.17%
3Y Avg
0.33%
5Y Avg
-0.73%
Market Cap
$44.50B
Return on Invested Capital (ROIC)
8.32%
TTM Avg
8.41%
3Y Avg
8.23%
5Y Avg
6.99%
Market Cap
$42.57B
Return on Invested Capital (ROIC)
1.34%
TTM Avg
18.13%
3Y Avg
20.89%
5Y Avg
23.01%
Market Cap
$40.96B
Return on Invested Capital (ROIC)
41.33%
TTM Avg
37.21%
3Y Avg
35.10%
5Y Avg
36.21%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Edwards Lifesciences Corporation (EW) | $49.69B | 10.22% | 11.11% | 12.95% | 15.41% |
| Agilent Technologies, Inc. (A)vs › | $48.80B | 11.88% | 12.59% | 13.58% | 12.74% |
| Becton, Dickinson and Company (BDX)vs › | $50.65B | 3.72% | 4.38% | 4.32% | 3.88% |
| Humana Inc. (HUM)vs › | $47.81B | 4.52% | 3.25% | 5.37% | 7.01% |
| Cardinal Health, Inc. (CAH)vs › | $51.58B | 13.45% | 12.41% | 9.39% | 5.98% |
| Teva Pharmaceutical Industries Limited (TEVA)vs › | $45.64B | 6.79% | 3.17% | 0.33% | -0.73% |
| IQVIA Holdings Inc. (IQV)vs › | $44.50B | 8.32% | 8.41% | 8.23% | 6.99% |
| Waters Corporation (WAT)vs › | $42.57B | 1.34% | 18.13% | 20.89% | 23.01% |
| IDEXX Laboratories, Inc. (IDXX)vs › | $40.96B | 41.33% | 37.21% | 35.10% | 36.21% |
| Cencora, Inc. (COR)vs › | $59.71B | 12.75% | 15.09% | 14.58% | 14.67% |
ROIC
10.2%
ROE
9.5%
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 | 10.22% |
| 2026-03-31 | 12.06% |
| 2025-12-31 | 11.29% |
| 2025-09-30 | 11.35% |
| 2025-06-30 | 10.65% |
| 2025-03-31 | 10.90% |
| 2024-12-31 | 10.80% |
| 2024-09-30 | 11.75% |
| 2024-06-30 | 14.40% |
| 2024-03-31 | 14.75% |
| 2023-12-31 | 15.98% |
| 2023-09-30 | 16.43% |
| 2023-06-30 | 17.81% |
| 2023-03-31 | 18.96% |
| 2022-12-31 | 20.14% |
| 2022-09-30 | 18.54% |
| 2022-06-30 | 19.11% |
| 2022-03-31 | 19.49% |
| 2021-12-31 | 19.04% |
| 2021-09-30 | 19.67% |
| 2021-06-30 | 20.27% |
| 2021-03-31 | 18.67% |
| 2020-12-31 | 18.35% |
| 2020-09-30 | 19.34% |
| 2020-06-30 | 19.86% |
| 2020-03-31 | 20.83% |
| 2019-12-31 | 19.21% |
| 2019-09-30 | 20.17% |
| 2019-06-30 | 20.87% |
| 2019-03-31 | 23.10% |
| 2018-12-31 | 23.30% |
| 2018-09-30 | 12.91% |
| 2018-06-30 | 12.33% |
| 2018-03-31 | 10.68% |
| 2017-12-31 | 11.77% |
| 2017-09-30 | 17.01% |
| 2017-06-30 | 17.16% |
| 2017-03-31 | 16.53% |
| 2016-12-31 | 15.33% |
| 2016-09-30 | 15.55% |
| 2016-06-30 | 15.74% |
| 2016-03-31 | 16.00% |
| 2015-12-31 | 14.26% |
| 2015-09-30 | 14.33% |
| 2015-06-30 | 14.50% |
| 2015-03-31 | 12.79% |
| 2014-12-31 | 11.07% |
| 2014-09-30 | 11.09% |
| 2014-06-30 | 10.88% |
| 2014-03-31 | 14.65% |
| 2013-12-31 | 14.52% |
| 2013-09-30 | 16.08% |
| 2013-06-30 | 17.06% |
| 2013-03-31 | 16.21% |
| 2012-12-31 | 16.34% |
| 2012-09-30 | 15.03% |
| 2012-06-30 | 15.05% |
| 2012-03-31 | 14.80% |
| 2011-12-31 | 15.22% |
| 2011-09-30 | 14.64% |
| 2011-06-30 | 14.28% |
| 2011-03-31 | 14.95% |
| 2010-12-31 | 15.71% |
| 2010-09-30 | 13.38% |
| 2010-06-30 | 14.46% |
| 2010-03-31 | 13.71% |
| 2009-12-31 | 13.52% |
| 2009-09-30 | 13.92% |
| 2009-06-30 | 14.09% |
| 2009-03-31 | 14.22% |
| 2008-12-31 | 12.81% |
| 2008-09-30 | 10.93% |
| 2008-06-30 | 10.69% |
| 2008-03-31 | 10.74% |
| 2007-12-31 | 11.70% |
| 2007-09-30 | 11.93% |
| 2007-06-30 | 12.47% |
| 2007-03-31 | 12.70% |
| 2006-12-31 | 14.40% |
| 2006-09-30 | 15.13% |
| 2006-06-30 | 13.05% |
| 2006-03-31 | 12.70% |
| 2005-12-31 | 11.55% |
| 2005-09-30 | 11.12% |
| 2005-06-30 | 12.75% |
| 2005-03-31 | 12.18% |
| 2004-12-31 | 8.33% |
| 2004-09-30 | 8.44% |
| 2004-06-30 | 7.95% |
| 2004-03-31 | 7.29% |
| 2003-12-31 | 12.31% |
| 2003-09-30 | 12.15% |
| 2003-06-30 | 6.07% |
