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 13.95% is 36% above its 5-year average of 10.25%, near the high end of its 5-year range (6.26%–16.51%).
As of the fiscal period ended Tuesday, June 30, 2026. 13.64% above its 12-month average of 12.28%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 13.95%.
RETURN ON INVESTED CAPITAL (ROIC)
13.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
12.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
10.85%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
10.25%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
8.85%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
11.39%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
13.31%
CURRENT VS TTM AVG
+13.64%
CURRENT VS 3Y AVG
+28.54%
CURRENT VS 5Y AVG
+36.07%
CURRENT VS 10Y AVG
+57.62%
CURRENT VS 15Y AVG
+22.52%
CURRENT VS 20Y AVG
+4.86%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+59.54%
vs the sector median at left
GSK plc
Market Cap
$98.65B
Return on Invested Capital (ROIC)
13.95%
TTM Avg
12.28%
3Y Avg
10.85%
5Y Avg
10.25%
Market Cap
$98.71B
Return on Invested Capital (ROIC)
5.42%
TTM Avg
6.63%
3Y Avg
6.62%
5Y Avg
7.56%
Market Cap
$101.46B
Return on Invested Capital (ROIC)
28.34%
TTM Avg
27.87%
3Y Avg
25.19%
5Y Avg
21.44%
Market Cap
$94.31B
Return on Invested Capital (ROIC)
19.41%
TTM Avg
17.66%
3Y Avg
17.17%
5Y Avg
17.02%
Market Cap
$104.41B
Return on Invested Capital (ROIC)
9.82%
TTM Avg
10.14%
3Y Avg
10.34%
5Y Avg
10.08%
Market Cap
$85.90B
Return on Invested Capital (ROIC)
6.34%
TTM Avg
6.70%
3Y Avg
7.11%
5Y Avg
7.33%
Market Cap
$113.46B
Return on Invested Capital (ROIC)
6.44%
TTM Avg
6.11%
3Y Avg
5.46%
5Y Avg
5.53%
Market Cap
$113.72B
Return on Invested Capital (ROIC)
4.14%
TTM Avg
4.18%
3Y Avg
4.49%
5Y Avg
4.97%
Market Cap
$81.19B
Return on Invested Capital (ROIC)
9.19%
TTM Avg
9.70%
3Y Avg
12.91%
5Y Avg
18.41%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| GSK plc (GSK) | $98.65B | 13.95% | 12.28% | 10.85% | 10.25% |
| Sanofi (SNY)vs › | $98.71B | 5.42% | 6.63% | 6.62% | 7.56% |
| McKesson Corporation (MCK)vs › | $101.46B | 28.34% | 27.87% | 25.19% | 21.44% |
| HCA Healthcare, Inc. (HCA)vs › | $94.31B | 19.41% | 17.66% | 17.17% | 17.02% |
| Stryker Corporation (SYK)vs › | $104.41B | 9.82% | 10.14% | 10.34% | 10.08% |
| Elevance Health Inc. (ELV)vs › | $85.90B | 6.34% | 6.70% | 7.11% | 7.33% |
| Medtronic plc (MDT)vs › | $113.46B | 6.44% | 6.11% | 5.46% | 5.53% |
| CVS Health Corp. (CVS)vs › | $113.72B | 4.14% | 4.18% | 4.49% | 4.97% |
| Regeneron Pharmaceuticals, Inc. (REGN)vs › | $81.19B | 9.19% | 9.70% | 12.91% | 18.41% |
| Moderna, Inc. (MRNA)vs › | $78.91B | -39.16% | -31.38% | -12.74% | 0.29% |
ROIC
14.0%
ROE
27.7%
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 | 13.95% |
| 2026-03-31 | 12.21% |
| 2025-12-31 | 16.51% |
| 2025-09-30 | 11.14% |
| 2025-06-30 | 7.57% |
| 2025-03-31 | 7.49% |
| 2024-12-31 | 8.64% |
| 2024-09-30 | 8.11% |
| 2024-06-30 | 9.26% |
| 2024-03-31 | 10.11% |
| 2023-12-31 | 11.12% |
| 2023-09-30 | 13.74% |
| 2023-06-30 | 11.25% |
| 2023-03-31 | 10.23% |
| 2022-12-31 | 13.93% |
| 2022-09-30 | 11.84% |
| 2022-06-30 | 8.26% |
| 2022-03-31 | 10.71% |
| 2021-12-31 | 6.51% |
| 2021-09-30 | 6.26% |
| 2021-06-30 | 6.49% |
| 2021-03-31 | 7.52% |
| 2020-12-31 | 7.83% |
| 2020-09-30 | 9.26% |
| 2020-06-30 | 9.89% |
| 2020-03-31 | 8.25% |
| 2019-12-31 | 6.86% |
| 2019-09-30 | 8.85% |
| 2019-06-30 | 11.58% |
| 2019-03-31 | 10.43% |
| 2018-12-31 | 11.53% |
| 2018-09-30 | 6.48% |
| 2018-06-30 | 6.16% |
| 2018-03-31 | 5.94% |
| 2017-12-31 | 7.37% |
| 2017-09-30 | 9.05% |
| 2017-06-30 | 7.65% |
| 2017-03-31 | 5.36% |
| 2016-12-31 | 3.46% |
| 2016-09-30 | 2.20% |
| 2016-06-30 | 1.89% |
| 2016-03-31 | 2.71% |
| 2015-12-31 | 20.06% |
| 2015-09-30 | 22.83% |
| 2015-06-30 | 20.95% |
| 2015-03-31 | 22.40% |
| 2014-12-31 | 11.85% |
| 2014-09-30 | 15.64% |
| 2014-06-30 | 17.13% |
| 2014-03-31 | 18.37% |
| 2013-12-31 | 18.38% |
| 2013-09-30 | 13.79% |
| 2013-06-30 | 14.88% |
| 2013-03-31 | 15.33% |
| 2012-12-31 | 16.34% |
| 2012-09-30 | 18.17% |
| 2012-06-30 | 19.35% |
| 2012-03-31 | 19.61% |
| 2011-12-31 | 19.56% |
| 2011-09-30 | 12.58% |
| 2011-06-30 | 11.76% |
| 2011-03-31 | 6.93% |
| 2010-12-31 | 7.40% |
| 2010-09-30 | 14.58% |
| 2010-06-30 | 15.62% |
| 2010-03-31 | 20.01% |
| 2009-12-31 | 18.40% |
| 2009-09-30 | 16.17% |
| 2009-06-30 | 17.20% |
| 2009-03-31 | 18.54% |
| 2008-12-31 | 20.85% |
| 2008-09-30 | 26.89% |
| 2008-06-30 | 26.64% |
| 2008-03-31 | 29.78% |
| 2007-12-31 | 28.77% |
| 2007-09-30 | 25.95% |
| 2007-06-30 | 25.93% |
| 2007-03-31 | 26.63% |
| 2006-12-31 | 27.32% |
| 2006-09-30 | 5.32% |
| 2006-06-30 | 4.21% |
| 2006-03-31 | 3.34% |
| 2005-12-31 | 2.35% |
| 2005-09-30 | 27.24% |
| 2005-06-30 | 26.58% |
| 2005-03-31 | 27.62% |
| 2004-12-31 | 27.15% |
| 2004-09-30 | 24.45% |
| 2004-06-30 | 26.64% |
| 2004-03-31 | 30.96% |
| 2003-12-31 | 25.63% |
| 2003-09-30 | 31.43% |
| 2003-06-30 | 25.13% |
