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 3.91% is 65% above its 5-year average of 2.37%, near the high end of its 5-year range (-7.30%–6.28%).
As of the fiscal period ended Tuesday, June 30, 2026. 117.08% above its 12-month average of 1.80%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 3.91%.
RETURN ON INVESTED CAPITAL (ROIC)
3.91%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
1.80%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
0.91%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
2.37%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
3.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.39%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
2.03%
CURRENT VS TTM AVG
+117.08%
CURRENT VS 3Y AVG
+330.58%
CURRENT VS 5Y AVG
+64.69%
CURRENT VS 10Y AVG
+19.72%
CURRENT VS 15Y AVG
+15.36%
CURRENT VS 20Y AVG
+92.87%
SECTOR MEDIAN · HEALTHCARE
-35.66%
median of 837 covered companies
CURRENT VS SECTOR MEDIAN
+110.97%
vs the sector median at left
Ligand Pharmaceuticals Incorporated
Market Cap
$5.95B
Return on Invested Capital (ROIC)
3.91%
TTM Avg
1.80%
3Y Avg
0.91%
5Y Avg
2.37%
Market Cap
$5.89B
Return on Invested Capital (ROIC)
-20.26%
TTM Avg
-47.02%
3Y Avg
-56.93%
5Y Avg
-48.62%
Market Cap
$5.87B
Return on Invested Capital (ROIC)
9.76%
TTM Avg
-0.67%
3Y Avg
-1.10%
5Y Avg
-22.88%
Market Cap
$5.79B
Return on Invested Capital (ROIC)
-37.26%
TTM Avg
-50.97%
3Y Avg
-60.09%
5Y Avg
-54.48%
Market Cap
$5.78B
Return on Invested Capital (ROIC)
-115.23%
TTM Avg
-66.98%
3Y Avg
-62.66%
5Y Avg
-49.24%
Market Cap
$6.23B
Return on Invested Capital (ROIC)
-63.96%
TTM Avg
-73.62%
3Y Avg
-66.48%
5Y Avg
-67.69%
Market Cap
$5.61B
Return on Invested Capital (ROIC)
-24.33%
TTM Avg
-20.36%
3Y Avg
-23.88%
5Y Avg
-23.64%
Market Cap
$5.53B
Return on Invested Capital (ROIC)
1.41%
TTM Avg
2.38%
3Y Avg
2.50%
5Y Avg
2.69%
Market Cap
$5.52B
Return on Invested Capital (ROIC)
0.43%
TTM Avg
-2.29%
3Y Avg
-2.17%
5Y Avg
-2.17%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Ligand Pharmaceuticals Incorporated (LGND) | $5.95B | 3.91% | 1.80% | 0.91% | 2.37% |
| GRAIL Inc. (GRAL)vs › | $5.89B | -20.26% | -47.02% | -56.93% | -48.62% |
| Kiniksa Pharmaceuticals International, plc (KNSA)vs › | $5.87B | 9.76% | -0.67% | -1.10% | -22.88% |
| Iovance Biotherapeutics, Inc. (IOVA)vs › | $5.79B | -37.26% | -50.97% | -60.09% | -54.48% |
| Kodiak Sciences Inc. (KOD)vs › | $5.78B | -115.23% | -66.98% | -62.66% | -49.24% |
| Rhythm Pharmaceuticals, Inc. (RYTM)vs › | $6.23B | -63.96% | -73.62% | -66.48% | -67.69% |
| CG Oncology Inc. (CGON)vs › | $5.61B | -24.33% | -20.36% | -23.88% | -23.64% |
| RadNet, Inc. (RDNT)vs › | $5.53B | 1.41% | 2.38% | 2.50% | 2.69% |
| MiniMed Group, Inc. Common Stock (MMED)vs › | $5.52B | 0.43% | -2.29% | -2.17% | -2.17% |
| Amneal Pharmaceuticals, Inc. (AMRX)vs › | $6.48B | 13.45% | 11.53% | 6.80% | 5.48% |
ROIC
3.9%
ROE
20.4%
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 | 3.91% |
| 2026-03-31 | 5.61% |
| 2025-12-31 | 2.43% |
| 2025-09-30 | 0.93% |
| 2025-06-30 | -3.88% |
| 2025-03-31 | -7.30% |
| 2024-12-31 | -1.37% |
| 2024-09-30 | -1.35% |
| 2024-06-30 | -1.54% |
| 2024-03-31 | 0.06% |
| 2023-12-31 | 1.31% |
| 2023-09-30 | 2.01% |
| 2023-06-30 | 2.77% |
| 2023-03-31 | 3.47% |
| 2022-12-31 | 2.62% |
| 2022-09-30 | 2.91% |
| 2022-06-30 | 3.83% |
| 2022-03-31 | 5.79% |
| 2021-12-31 | 6.28% |
| 2021-09-30 | 6.25% |
| 2021-06-30 | 5.43% |
| 2021-03-31 | 2.23% |
| 2020-12-31 | 2.05% |
| 2020-09-30 | 0.37% |
| 2020-06-30 | -0.37% |
| 2020-03-31 | -1.35% |
| 2019-12-31 | 43.14% |
| 2019-09-30 | 44.68% |
| 2019-06-30 | 40.83% |
| 2019-03-31 | 43.24% |
| 2018-12-31 | 11.23% |
| 2018-09-30 | 7.14% |
| 2018-06-30 | 6.56% |
| 2018-03-31 | 7.10% |
| 2017-12-31 | 5.70% |
| 2017-09-30 | 4.98% |
| 2017-06-30 | 4.18% |
| 2017-03-31 | 3.50% |
| 2016-12-31 | 4.15% |
| 2016-09-30 | 6.15% |
| 2016-06-30 | 6.47% |
| 2016-03-31 | 6.50% |
| 2015-12-31 | 3.82% |
| 2015-09-30 | 5.13% |
| 2015-06-30 | 7.12% |
| 2015-03-31 | 6.99% |
| 2014-12-31 | 8.04% |
| 2014-09-30 | 6.18% |
| 2014-06-30 | 18.48% |
| 2014-03-31 | 17.21% |
| 2013-12-31 | 16.88% |
| 2013-09-30 | 15.82% |
| 2013-06-30 | 10.57% |
| 2013-03-31 | 6.71% |
| 2012-12-31 | 0.69% |
| 2012-09-30 | 1.35% |
| 2012-06-30 | -0.19% |
| 2012-03-31 | 0.47% |
| 2011-12-31 | -0.79% |
| 2011-09-30 | -12.64% |
| 2011-06-30 | -25.93% |
| 2011-03-31 | -29.06% |
| 2010-12-31 | -69.62% |
| 2010-09-30 | -25.77% |
| 2010-06-30 | -6.00% |
| 2010-03-31 | -7.22% |
| 2009-12-31 | -11.10% |
| 2009-09-30 | -111.36% |
| 2009-06-30 | -99.16% |
| 2009-03-31 | -94.68% |
| 2008-12-31 | -94.75% |
| 2008-09-30 | -33.19% |
| 2008-06-30 | -29.47% |
| 2008-03-31 | -34.93% |
| 2007-12-31 | -48.59% |
| 2007-09-30 | -30.77% |
| 2007-06-30 | -32.99% |
| 2007-03-31 | -26.92% |
| 2006-12-31 | -82.00% |
| 2006-06-30 | -760.59% |
| 2006-03-31 | -418.61% |
| 2005-12-31 | -32.17% |
| 2005-09-30 | -44.79% |
| 2005-06-30 | -41.79% |
| 2005-03-31 | -42.87% |
| 2004-12-31 | -31.49% |
| 2004-09-30 | -6.71% |
| 2004-06-30 | -8.42% |
| 2004-03-31 | -7.04% |
| 2003-12-31 | -7.68% |
| 2003-09-30 | -15.61% |
| 2003-06-30 | -17.17% |
