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 27.38% is 16% above its 5-year average of 23.66%, around the middle of its 5-year range (18.03%–32.06%).
As of the fiscal period ended Tuesday, June 30, 2026. 6.18% below its 12-month average of 29.19%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
27.38%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
29.19%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
25.04%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
23.66%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
18.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
17.34%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
17.91%
CURRENT VS TTM AVG
-6.18%
CURRENT VS 3Y AVG
+9.37%
CURRENT VS 5Y AVG
+15.72%
CURRENT VS 10Y AVG
+45.92%
CURRENT VS 15Y AVG
+57.91%
CURRENT VS 20Y AVG
+52.90%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+213.12%
vs the sector median at left
Eli Lilly and Company
Market Cap
$1.06T
Return on Invested Capital (ROIC)
27.38%
TTM Avg
29.19%
3Y Avg
25.04%
5Y Avg
23.66%
Market Cap
$651.09B
Return on Invested Capital (ROIC)
13.89%
TTM Avg
13.73%
3Y Avg
13.02%
5Y Avg
13.16%
Market Cap
$440.81B
Return on Invested Capital (ROIC)
13.46%
TTM Avg
10.91%
3Y Avg
11.35%
5Y Avg
11.16%
Market Cap
$367.26B
Return on Invested Capital (ROIC)
5.80%
TTM Avg
18.65%
3Y Avg
14.46%
5Y Avg
12.98%
Market Cap
$366.38B
Return on Invested Capital (ROIC)
9.19%
TTM Avg
10.28%
3Y Avg
12.20%
5Y Avg
12.63%
Market Cap
$345.25B
Return on Invested Capital (ROIC)
19.71%
TTM Avg
16.50%
3Y Avg
18.66%
5Y Avg
20.03%
Market Cap
$248.49B
Return on Invested Capital (ROIC)
12.83%
TTM Avg
11.72%
3Y Avg
9.44%
5Y Avg
7.92%
Market Cap
$224.73B
Return on Invested Capital (ROIC)
7.44%
TTM Avg
7.81%
3Y Avg
8.16%
5Y Avg
9.11%
Market Cap
$213.83B
Return on Invested Capital (ROIC)
14.22%
TTM Avg
11.04%
3Y Avg
11.80%
5Y Avg
12.80%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Eli Lilly and Company (LLY) | $1.06T | 27.38% | 29.19% | 25.04% | 23.66% |
| Johnson & Johnson (JNJ)vs › | $651.09B | 13.89% | 13.73% | 13.02% | 13.16% |
| AbbVie Inc. (ABBV)vs › | $440.81B | 13.46% | 10.91% | 11.35% | 11.16% |
| Merck & Co., Inc. (MRK)vs › | $367.26B | 5.80% | 18.65% | 14.46% | 12.98% |
| UnitedHealth Group Incorporated (UNH)vs › | $366.38B | 9.19% | 10.28% | 12.20% | 12.63% |
| Roche Holding AG (RHHBY)vs › | $345.25B | 19.71% | 16.50% | 18.66% | 20.03% |
| AstraZeneca PLC (AZN)vs › | $248.49B | 12.83% | 11.72% | 9.44% | 7.92% |
| Thermo Fisher Scientific Inc. (TMO)vs › | $224.73B | 7.44% | 7.81% | 8.16% | 9.11% |
| Amgen Inc. (AMGN)vs › | $213.83B | 14.22% | 11.04% | 11.80% | 12.80% |
| Novo Nordisk A/S (NVO)vs › | $201.12B | 30.21% | 34.36% | 43.28% | 43.42% |
ROIC
27.4%
ROE
78.8%
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 | 27.38% |
| 2026-03-31 | 32.06% |
| 2025-12-31 | 30.20% |
| 2025-09-30 | 28.60% |
| 2025-06-30 | 27.70% |
| 2025-03-31 | 26.01% |
| 2024-12-31 | 26.36% |
| 2024-09-30 | 23.17% |
| 2024-06-30 | 22.73% |
| 2024-03-31 | 20.40% |
| 2023-12-31 | 19.77% |
| 2023-09-30 | 20.86% |
| 2023-06-30 | 20.26% |
| 2023-03-31 | 18.77% |
| 2022-12-31 | 23.45% |
| 2022-09-30 | 24.48% |
| 2022-06-30 | 24.53% |
| 2022-03-31 | 22.92% |
| 2021-12-31 | 20.23% |
| 2021-09-30 | 19.00% |
| 2021-06-30 | 18.03% |
| 2021-03-31 | 17.54% |
| 2020-12-31 | 17.81% |
| 2020-09-30 | 16.84% |
| 2020-06-30 | 17.97% |
| 2020-03-31 | 18.19% |
| 2019-12-31 | 18.21% |
| 2019-09-30 | 19.67% |
| 2019-06-30 | 18.78% |
| 2019-03-31 | 17.16% |
| 2018-12-31 | 15.84% |
| 2018-09-30 | 8.38% |
| 2018-06-30 | 8.57% |
| 2018-03-31 | 7.38% |
| 2017-12-31 | 7.11% |
| 2017-09-30 | 11.01% |
| 2017-06-30 | 10.71% |
| 2017-03-31 | 10.60% |
| 2016-12-31 | 10.56% |
| 2016-09-30 | 9.93% |
| 2016-06-30 | 10.22% |
| 2016-03-31 | 10.74% |
| 2015-12-31 | 11.34% |
| 2015-09-30 | 10.99% |
| 2015-06-30 | 10.27% |
| 2015-03-31 | 9.58% |
| 2014-12-31 | 9.25% |
| 2014-09-30 | 9.94% |
| 2014-06-30 | 12.39% |
| 2014-03-31 | 14.14% |
| 2013-12-31 | 16.14% |
| 2013-09-30 | 17.28% |
| 2013-06-30 | 16.20% |
| 2013-03-31 | 15.08% |
| 2012-12-31 | 14.57% |
| 2012-09-30 | 13.79% |
| 2012-06-30 | 17.21% |
| 2012-03-31 | 18.49% |
| 2011-12-31 | 19.56% |
| 2011-09-30 | 20.36% |
| 2011-06-30 | 21.10% |
| 2011-03-31 | 21.32% |
| 2010-12-31 | 21.87% |
| 2010-09-30 | 21.14% |
| 2010-06-30 | 23.95% |
| 2010-03-31 | 23.24% |
| 2009-12-31 | 24.60% |
| 2009-09-30 | 16.61% |
| 2009-06-30 | 30.09% |
| 2009-03-31 | 28.85% |
| 2008-12-31 | 25.18% |
| 2008-09-30 | 18.91% |
| 2008-06-30 | 18.70% |
| 2008-03-31 | 17.78% |
| 2007-12-31 | 16.68% |
| 2007-09-30 | 16.00% |
| 2007-06-30 | 16.51% |
| 2007-03-31 | 15.81% |
| 2006-12-31 | 18.81% |
| 2006-09-30 | 15.78% |
| 2006-06-30 | 15.16% |
| 2006-03-31 | 13.95% |
| 2005-12-31 | 13.71% |
| 2005-09-30 | 9.85% |
| 2005-06-30 | 11.43% |
| 2005-03-31 | 13.02% |
| 2004-12-31 | 11.67% |
| 2004-09-30 | 13.99% |
| 2004-06-30 | 15.58% |
| 2004-03-31 | 15.36% |
| 2003-12-31 | 16.84% |
| 2003-09-30 | 16.90% |
| 2003-06-30 | 17.99% |
