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 8.02% is in line with its 5-year average of 7.83%, around the middle of its 5-year range (3.13%–17.23%).
As of the fiscal period ended Tuesday, June 30, 2026. 14.17% above its 12-month average of 7.02%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 8.02%.
RETURN ON INVESTED CAPITAL (ROIC)
8.02%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
7.02%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.39%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
7.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
6.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
7.76%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
8.94%
CURRENT VS TTM AVG
+14.17%
CURRENT VS 3Y AVG
+48.86%
CURRENT VS 5Y AVG
+2.42%
CURRENT VS 10Y AVG
+17.36%
CURRENT VS 15Y AVG
+3.33%
CURRENT VS 20Y AVG
-10.28%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
-8.32%
vs the sector median at left
Labcorp Holdings Inc.
Market Cap
$25.55B
Return on Invested Capital (ROIC)
8.02%
TTM Avg
7.02%
3Y Avg
5.39%
5Y Avg
7.83%
Market Cap
$25.94B
Return on Invested Capital (ROIC)
8.25%
TTM Avg
7.70%
3Y Avg
8.24%
5Y Avg
10.04%
Market Cap
$26.14B
Return on Invested Capital (ROIC)
38.57%
TTM Avg
38.26%
3Y Avg
37.51%
5Y Avg
36.01%
Market Cap
$24.62B
Return on Invested Capital (ROIC)
22.95%
TTM Avg
10.25%
3Y Avg
9.28%
5Y Avg
7.08%
Market Cap
$24.37B
Return on Invested Capital (ROIC)
15.77%
TTM Avg
14.65%
3Y Avg
16.96%
5Y Avg
17.76%
Market Cap
$24.30B
Return on Invested Capital (ROIC)
-10.37%
TTM Avg
-4.85%
3Y Avg
9.52%
5Y Avg
19.51%
Market Cap
$27.51B
Return on Invested Capital (ROIC)
4.05%
TTM Avg
6.03%
3Y Avg
5.27%
5Y Avg
5.27%
Market Cap
$28.88B
Return on Invested Capital (ROIC)
6.94%
TTM Avg
7.96%
3Y Avg
8.07%
5Y Avg
9.18%
Market Cap
$21.10B
Return on Invested Capital (ROIC)
17.69%
TTM Avg
15.79%
3Y Avg
14.57%
5Y Avg
13.09%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Labcorp Holdings Inc. (LH) | $25.55B | 8.02% | 7.02% | 5.39% | 7.83% |
| Quest Diagnostics Incorporated (DGX)vs › | $25.94B | 8.25% | 7.70% | 8.24% | 10.04% |
| Mettler-Toledo International Inc. (MTD)vs › | $26.14B | 38.57% | 38.26% | 37.51% | 36.01% |
| Incyte Corporation (INCY)vs › | $24.62B | 22.95% | 10.25% | 9.28% | 7.08% |
| West Pharmaceutical Services, Inc. (WST)vs › | $24.37B | 15.77% | 14.65% | 16.96% | 17.76% |
| BioNTech SE (BNTX)vs › | $24.30B | -10.37% | -4.85% | 9.52% | 19.51% |
| Medline Inc. (MDLN)vs › | $27.51B | 4.05% | 6.03% | 5.27% | 5.27% |
| GE HealthCare Technologies Inc. (GEHC)vs › | $28.88B | 6.94% | 7.96% | 8.07% | 9.18% |
| United Therapeutics Corporation (UTHR)vs › | $21.10B | 17.69% | 15.79% | 14.57% | 13.09% |
| Waters Corporation (WAT)vs › | $30.54B | 1.34% | 18.13% | 20.89% | 23.01% |
ROIC
8.0%
ROE
11.7%
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 | 8.02% |
| 2026-03-31 | 7.53% |
| 2025-12-31 | 7.30% |
| 2025-09-30 | 6.36% |
| 2025-06-30 | 5.90% |
| 2025-03-31 | 5.48% |
| 2024-12-31 | 5.27% |
| 2024-09-30 | 3.13% |
| 2024-06-30 | 3.49% |
| 2024-03-31 | 3.30% |
| 2023-12-31 | 3.35% |
| 2023-09-30 | 5.14% |
| 2023-06-30 | 5.74% |
| 2023-03-31 | 5.81% |
| 2022-12-31 | 7.45% |
| 2022-09-30 | 10.20% |
| 2022-06-30 | 11.40% |
| 2022-03-31 | 12.23% |
| 2021-12-31 | 14.09% |
| 2021-09-30 | 15.96% |
| 2021-06-30 | 17.23% |
| 2021-03-31 | 15.87% |
| 2020-12-31 | 9.88% |
| 2020-09-30 | 6.16% |
| 2020-06-30 | 2.98% |
| 2020-03-31 | 2.97% |
| 2019-12-31 | 6.29% |
| 2019-09-30 | 6.06% |
| 2019-06-30 | 6.16% |
| 2019-03-31 | 6.77% |
| 2018-12-31 | 6.98% |
| 2018-09-30 | 9.17% |
| 2018-06-30 | 9.26% |
| 2018-03-31 | 8.83% |
| 2017-12-31 | 9.22% |
| 2017-09-30 | 5.87% |
| 2017-06-30 | 6.53% |
| 2017-03-31 | 6.81% |
| 2016-12-31 | 6.62% |
| 2016-09-30 | 5.98% |
| 2016-06-30 | 5.84% |
| 2016-03-31 | 5.55% |
| 2015-12-31 | 4.61% |
| 2015-09-30 | 4.46% |
| 2015-06-30 | 4.17% |
| 2015-03-31 | 3.83% |
| 2014-12-31 | 8.46% |
| 2014-09-30 | 8.59% |
| 2014-06-30 | 8.79% |
| 2014-03-31 | 9.23% |
| 2013-12-31 | 9.84% |
| 2013-09-30 | 10.10% |
| 2013-06-30 | 10.24% |
| 2013-03-31 | 10.40% |
| 2012-12-31 | 10.12% |
| 2012-09-30 | 10.53% |
| 2012-06-30 | 11.60% |
| 2012-03-31 | 11.13% |
| 2011-12-31 | 10.54% |
| 2011-09-30 | 11.00% |
| 2011-06-30 | 10.96% |
| 2011-03-31 | 11.34% |
| 2010-12-31 | 11.26% |
| 2010-09-30 | 13.63% |
| 2010-06-30 | 13.56% |
| 2010-03-31 | 13.27% |
| 2009-12-31 | 13.87% |
| 2009-09-30 | 12.94% |
| 2009-06-30 | 12.67% |
| 2009-03-31 | 11.72% |
| 2008-12-31 | 11.95% |
| 2008-09-30 | 11.68% |
| 2008-06-30 | 11.15% |
| 2008-03-31 | 11.63% |
| 2007-12-31 | 11.57% |
| 2007-09-30 | 11.69% |
| 2007-08-01 | 12.28% |
| 2007-03-31 | 12.25% |
| 2006-12-31 | 11.52% |
| 2006-09-30 | 10.53% |
| 2006-06-30 | 10.56% |
| 2006-03-31 | 10.80% |
| 2005-12-31 | 10.55% |
| 2005-09-30 | 10.37% |
| 2005-06-30 | 10.38% |
| 2005-03-31 | 10.78% |
| 2004-12-31 | 10.70% |
| 2004-09-30 | 10.67% |
| 2004-06-30 | 10.62% |
| 2004-03-31 | 10.18% |
| 2003-12-31 | 9.97% |
| 2003-09-30 | 9.43% |
| 2003-06-30 | 8.57% |
