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 46.99% is 200% above its 5-year average of -46.80%, near the high end of its 5-year range (-71.67%–46.99%).
As of the fiscal period ended Tuesday, June 30, 2026. 438.67% above its 12-month average of -13.87%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 46.99%.
RETURN ON INVESTED CAPITAL (ROIC)
46.99%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
-13.87%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
-56.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
-46.80%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+438.67%
CURRENT VS 3Y AVG
+182.53%
CURRENT VS 5Y AVG
+200.40%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · HEALTHCARE
-35.66%
median of 837 covered companies
CURRENT VS SECTOR MEDIAN
+231.77%
vs the sector median at left
Liquidia Corporation
Market Cap
$2.30B
Return on Invested Capital (ROIC)
46.99%
TTM Avg
-13.87%
3Y Avg
-56.93%
5Y Avg
-46.80%
Market Cap
$2.28B
Return on Invested Capital (ROIC)
14.96%
TTM Avg
15.56%
3Y Avg
18.20%
5Y Avg
16.63%
Market Cap
$2.34B
Return on Invested Capital (ROIC)
12.75%
TTM Avg
12.12%
3Y Avg
12.86%
5Y Avg
10.67%
Market Cap
$2.35B
Return on Invested Capital (ROIC)
-77.92%
TTM Avg
-42.31%
3Y Avg
-48.27%
5Y Avg
-40.00%
Market Cap
$2.36B
Return on Invested Capital (ROIC)
27.60%
TTM Avg
29.86%
3Y Avg
13.68%
5Y Avg
-0.60%
Market Cap
$2.37B
Return on Invested Capital (ROIC)
-38.21%
TTM Avg
-29.01%
3Y Avg
-27.76%
5Y Avg
-29.57%
Market Cap
$2.24B
Return on Invested Capital (ROIC)
-26.95%
TTM Avg
-26.95%
3Y Avg
-26.95%
5Y Avg
-26.95%
Market Cap
$2.38B
Return on Invested Capital (ROIC)
-4.62%
TTM Avg
-19.11%
3Y Avg
-45.14%
5Y Avg
-60.93%
Market Cap
$2.43B
Return on Invested Capital (ROIC)
-49.78%
TTM Avg
-43.13%
3Y Avg
-47.40%
5Y Avg
-42.10%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Liquidia Corporation (LQDA) | $2.30B | 46.99% | -13.87% | -56.93% | -46.80% |
| Harmony Biosciences Holdings, Inc. (HRMY)vs › | $2.28B | 14.96% | 15.56% | 18.20% | 16.63% |
| UFP Technologies, Inc. (UFPT)vs › | $2.34B | 12.75% | 12.12% | 12.86% | 10.67% |
| Nurix Therapeutics, Inc. (NRIX)vs › | $2.35B | -77.92% | -42.31% | -48.27% | -40.00% |
| ADMA Biologics, Inc. (ADMA)vs › | $2.36B | 27.60% | 29.86% | 13.68% | -0.60% |
| Disc Medicine, Inc. (IRON)vs › | $2.37B | -38.21% | -29.01% | -27.76% | -29.57% |
| Alamar Biosciences, Inc. (ALMR)vs › | $2.24B | -26.95% | -26.95% | -26.95% | -26.95% |
| Clover Health Investments, Corp. (CLOV)vs › | $2.38B | -4.62% | -19.11% | -45.14% | -60.93% |
| Recursion Pharmaceuticals, Inc. (RXRX)vs › | $2.43B | -49.78% | -43.13% | -47.40% | -42.10% |
| Pharvaris N.V. (PHVS)vs › | $2.17B | -61.74% | -58.38% | -49.99% | -42.69% |
ROIC
47.0%
ROE
71.0%
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) |
|---|---|
| 2026-06-30 | 46.99% |
| 2026-03-31 | 12.83% |
| 2025-12-31 | -20.50% |
| 2025-09-30 | -46.74% |
| 2025-06-30 | -61.95% |
| 2025-03-31 | -62.54% |
| 2024-12-31 | -58.72% |
| 2024-09-30 | -50.96% |
| 2024-06-30 | -63.55% |
| 2024-03-31 | -53.06% |
| 2023-12-31 | -71.67% |
| 2023-09-30 | -53.72% |
| 2023-06-30 | -46.41% |
| 2023-03-31 | -27.46% |
| 2022-12-31 | -32.20% |
| 2022-09-30 | -34.88% |
| 2022-06-30 | -31.41% |
| 2022-03-31 | -45.90% |
| 2021-12-31 | -39.12% |
| 2021-09-30 | -41.13% |
| 2021-06-30 | -47.31% |
| 2021-03-31 | -66.33% |
| 2020-12-31 | -67.30% |
| 2020-09-30 | -69.27% |
| 2020-06-30 | -200.92% |
| 2020-03-31 | -113.01% |
| 2019-12-31 | -81.36% |
| 2019-09-30 | -100.70% |
| 2019-06-30 | -69.83% |
| 2019-03-31 | -62.32% |
| 2018-12-31 | -84.05% |
| 2018-09-30 | -64.73% |
| 2018-06-30 | -238.16% |
| 2018-03-31 | -147.97% |
