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 5.92% is in line with its 5-year average of 6.25%, around the middle of its 5-year range (5.42%–6.92%).
As of the fiscal period ended Sunday, May 31, 2026. 2.76% below its 12-month average of 6.09%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q4 FY2026 (2026-05-31): 5.92%.
RETURN ON INVESTED CAPITAL (ROIC)
5.92%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
6.09%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
6.10%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
6.25%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
6.32%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
6.51%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.99%
CURRENT VS TTM AVG
-2.76%
CURRENT VS 3Y AVG
-2.96%
CURRENT VS 5Y AVG
-5.19%
CURRENT VS 10Y AVG
-6.33%
CURRENT VS 15Y AVG
-9.00%
CURRENT VS 20Y AVG
-15.31%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
-38.02%
vs the sector median at left
FedEx Corporation
Market Cap
$70.01B
Return on Invested Capital (ROIC)
5.92%
TTM Avg
6.09%
3Y Avg
6.10%
5Y Avg
6.25%
Market Cap
$70.53B
Return on Invested Capital (ROIC)
7.33%
TTM Avg
7.38%
3Y Avg
7.64%
5Y Avg
7.88%
Market Cap
$72.30B
Return on Invested Capital (ROIC)
8.89%
TTM Avg
8.82%
3Y Avg
9.98%
5Y Avg
9.70%
Market Cap
$72.43B
Return on Invested Capital (ROIC)
9.97%
TTM Avg
9.50%
3Y Avg
8.59%
5Y Avg
9.56%
Market Cap
$72.60B
Return on Invested Capital (ROIC)
10.95%
TTM Avg
12.63%
3Y Avg
10.01%
5Y Avg
10.48%
Market Cap
$67.14B
Return on Invested Capital (ROIC)
6.63%
TTM Avg
9.09%
3Y Avg
9.81%
5Y Avg
9.63%
Market Cap
$65.80B
Return on Invested Capital (ROIC)
9.07%
TTM Avg
9.07%
3Y Avg
8.40%
5Y Avg
8.01%
Market Cap
$64.92B
Return on Invested Capital (ROIC)
11.11%
TTM Avg
11.32%
3Y Avg
11.51%
5Y Avg
10.67%
Market Cap
$77.35B
Return on Invested Capital (ROIC)
5.02%
TTM Avg
4.89%
3Y Avg
4.83%
5Y Avg
5.73%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| FedEx Corporation (FDX) | $70.01B | 5.92% | 6.09% | 6.10% | 6.25% |
| Norfolk Southern Corporation (NSC)vs › | $70.53B | 7.33% | 7.38% | 7.64% | 7.88% |
| Canadian National Railway Company (CNI)vs › | $72.30B | 8.89% | 8.82% | 9.98% | 9.70% |
| Northrop Grumman Corporation (NOC)vs › | $72.43B | 9.97% | 9.50% | 8.59% | 9.56% |
| Cummins Inc. (CMI)vs › | $72.60B | 10.95% | 12.63% | 10.01% | 10.48% |
| Honeywell International Inc. (HON)vs › | $67.14B | 6.63% | 9.09% | 9.81% | 9.63% |
| Republic Services, Inc. (RSG)vs › | $65.80B | 9.07% | 9.07% | 8.40% | 8.01% |
| United Rentals, Inc. (URI)vs › | $64.92B | 11.11% | 11.32% | 11.51% | 10.67% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $77.35B | 5.02% | 4.89% | 4.83% | 5.73% |
| TransDigm Group Incorporated (TDG)vs › | $62.22B | 16.02% | 14.51% | 12.68% | 11.40% |
ROIC
5.9%
ROE
14.0%
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) |
|---|---|
| 2026-05-31 | 5.92% |
| 2026-02-28 | 5.96% |
| 2025-11-30 | 6.18% |
| 2025-08-31 | 6.21% |
| 2025-05-31 | 6.17% |
| 2025-02-28 | 6.29% |
| 2024-11-30 | 6.13% |
| 2024-08-31 | 6.04% |
| 2024-05-31 | 6.40% |
| 2024-02-29 | 6.23% |
| 2023-11-30 | 5.95% |
| 2023-08-31 | 5.74% |
| 2023-05-31 | 5.42% |
| 2023-02-28 | 5.82% |
| 2022-11-30 | 6.32% |
| 2022-08-31 | 6.68% |
| 2022-05-31 | 6.92% |
| 2022-02-28 | 6.89% |
| 2021-11-30 | 6.44% |
| 2021-08-31 | 6.62% |
| 2021-05-31 | 6.84% |
| 2021-02-28 | 5.69% |
| 2020-11-30 | 4.89% |
| 2020-08-31 | 4.08% |
| 2020-05-31 | 3.48% |
| 2020-02-29 | 6.06% |
| 2019-11-30 | 6.96% |
| 2019-08-31 | 6.56% |
| 2019-05-31 | 8.51% |
| 2019-02-28 | 8.34% |
| 2018-11-30 | 10.75% |
| 2018-08-31 | 11.13% |
| 2018-05-31 | 11.23% |
| 2018-02-28 | 11.39% |
| 2017-11-30 | 8.17% |
| 2017-08-31 | 8.16% |
| 2017-05-31 | 8.74% |
| 2017-02-28 | 5.92% |
| 2016-11-30 | 5.71% |
| 2016-08-31 | 5.64% |
| 2016-05-31 | 5.37% |
| 2016-02-29 | 3.76% |
| 2015-11-30 | 3.86% |
| 2015-08-31 | 3.67% |
| 2015-05-31 | 3.40% |
| 2015-02-28 | 8.60% |
| 2014-11-30 | 8.80% |
| 2014-08-31 | 8.49% |
| 2014-05-31 | 7.91% |
| 2014-02-28 | 6.35% |
| 2013-11-30 | 6.09% |
| 2013-08-31 | 5.85% |
| 2013-05-31 | 5.78% |
| 2013-02-28 | 6.88% |
| 2012-11-30 | 7.60% |
| 2012-08-31 | 7.95% |
| 2012-05-31 | 8.26% |
| 2012-02-29 | 8.65% |
| 2011-11-30 | 7.64% |
| 2011-08-31 | 6.91% |
| 2011-05-31 | 6.77% |
| 2011-02-28 | 6.40% |
| 2010-11-30 | 6.49% |
| 2010-08-31 | 6.93% |
| 2010-05-31 | 6.09% |
| 2010-02-28 | 1.20% |
| 2009-11-30 | 0.59% |
| 2009-08-31 | 1.18% |
| 2009-05-31 | 2.02% |
| 2009-02-28 | 3.40% |
| 2008-11-30 | 4.79% |
| 2008-08-31 | 4.81% |
| 2008-05-31 | 5.58% |
| 2008-02-29 | 10.11% |
| 2007-11-30 | 10.47% |
| 2007-08-31 | 10.76% |
| 2007-05-31 | 10.69% |
| 2007-02-28 | 9.84% |
| 2006-11-30 | 10.21% |
| 2006-08-31 | 10.32% |
| 2006-05-31 | 10.39% |
| 2006-02-28 | 10.21% |
| 2005-11-30 | 9.80% |
| 2005-08-31 | 9.48% |
| 2005-05-31 | 9.65% |
| 2005-02-28 | 9.41% |
| 2004-11-30 | 8.87% |
| 2004-08-31 | 7.34% |
| 2004-05-31 | 6.07% |
| 2004-02-29 | 5.29% |
| 2003-11-30 | 5.59% |
| 2003-08-31 | 6.94% |
| 2003-05-31 | 7.38% |
