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 5.74% is 26% above its 5-year average of 4.57%, near the high end of its 5-year range (1.11%–5.76%).
As of the fiscal period ended Tuesday, June 30, 2026. 10.76% above its 12-month average of 5.18%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 5.74%.
RETURN ON INVESTED CAPITAL (ROIC)
5.74%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
5.18%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
4.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
4.57%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
2.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
2.29%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
2.71%
CURRENT VS TTM AVG
+10.76%
CURRENT VS 3Y AVG
+16.39%
CURRENT VS 5Y AVG
+25.55%
CURRENT VS 10Y AVG
+107.25%
CURRENT VS 15Y AVG
+150.26%
CURRENT VS 20Y AVG
+111.86%
SECTOR MEDIAN · REAL ESTATE
4.45%
median of 45 covered companies
CURRENT VS SECTOR MEDIAN
+28.99%
vs the sector median at left
Annaly Capital Management, Inc.
Market Cap
$13.97B
Return on Invested Capital (ROIC)
5.74%
TTM Avg
5.18%
3Y Avg
4.93%
5Y Avg
4.57%
Market Cap
$13.64B
Return on Invested Capital (ROIC)
4.05%
TTM Avg
4.20%
3Y Avg
3.81%
5Y Avg
4.13%
Market Cap
$13.43B
Return on Invested Capital (ROIC)
2.36%
TTM Avg
2.50%
3Y Avg
2.56%
5Y Avg
2.34%
Market Cap
$13.40B
Return on Invested Capital (ROIC)
5.17%
TTM Avg
5.63%
3Y Avg
5.85%
5Y Avg
5.26%
Market Cap
$13.30B
Return on Invested Capital (ROIC)
3.67%
TTM Avg
3.48%
3Y Avg
7.17%
5Y Avg
9.13%
Market Cap
$13.07B
Return on Invested Capital (ROIC)
5.29%
TTM Avg
6.21%
3Y Avg
6.92%
5Y Avg
6.92%
Market Cap
$15.00B
Return on Invested Capital (ROIC)
3.95%
TTM Avg
3.38%
3Y Avg
3.04%
5Y Avg
2.90%
Market Cap
$15.45B
Return on Invested Capital (ROIC)
6.84%
TTM Avg
6.42%
3Y Avg
6.46%
5Y Avg
2.72%
Market Cap
$15.47B
Return on Invested Capital (ROIC)
4.67%
TTM Avg
4.02%
3Y Avg
3.82%
5Y Avg
3.49%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Annaly Capital Management, Inc. (NLY) | $13.97B | 5.74% | 5.18% | 4.93% | 4.57% |
| Sun Communities, Inc. (SUI)vs › | $13.64B | 4.05% | 4.20% | 3.81% | 4.13% |
| Healthpeak Properties, Inc. (DOC)vs › | $13.43B | 2.36% | 2.50% | 2.56% | 2.34% |
| Mid-America Apartment Communities, Inc. (MAA)vs › | $13.40B | 5.17% | 5.63% | 5.85% | 5.26% |
| Weyerhaeuser Company (WY)vs › | $13.30B | 3.67% | 3.48% | 7.17% | 9.13% |
| Regency Centers Corporation (REG)vs › | $13.07B | 5.29% | 6.21% | 6.92% | 6.92% |
| Kimco Realty Corporation (KIM)vs › | $15.00B | 3.95% | 3.38% | 3.04% | 2.90% |
| Host Hotels & Resorts, Inc. (HST)vs › | $15.45B | 6.84% | 6.42% | 6.46% | 2.72% |
| Invitation Homes Inc. (INVH)vs › | $15.47B | 4.67% | 4.02% | 3.82% | 3.49% |
| SBA Communications Corporation (SBAC)vs › | $16.79B | 11.87% | 11.46% | 9.98% | 9.22% |
ROIC
5.7%
ROE
17.4%
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 | 5.74% |
| 2026-03-31 | 5.19% |
| 2025-12-31 | 5.18% |
| 2025-09-30 | 5.00% |
| 2025-06-30 | 4.80% |
| 2025-03-31 | 5.00% |
| 2024-12-31 | 5.40% |
| 2024-09-30 | 4.49% |
| 2024-06-30 | 4.18% |
| 2024-03-31 | 4.35% |
| 2023-12-31 | 2.39% |
| 2023-09-30 | 1.54% |
| 2023-06-30 | 1.14% |
| 2023-03-31 | 1.11% |
| 2022-12-31 | 3.70% |
| 2022-09-30 | 4.40% |
| 2022-06-30 | 5.76% |
| 2022-03-31 | 3.82% |
| 2021-12-31 | 3.84% |
| 2021-09-30 | 4.42% |
| 2021-06-30 | 4.63% |
| 2021-03-31 | 5.76% |
| 2020-12-31 | -0.54% |
| 2020-09-30 | 0.05% |
| 2020-06-30 | -1.90% |
| 2020-03-31 | -4.57% |
| 2019-12-31 | -1.20% |
| 2019-09-30 | -4.40% |
| 2019-06-30 | -2.99% |
| 2019-03-31 | -1.33% |
| 2018-12-31 | 0.63% |
| 2018-09-30 | 3.55% |
| 2018-06-30 | 3.09% |
| 2018-03-31 | 2.46% |
| 2017-12-31 | 1.55% |
| 2017-09-30 | 2.75% |
| 2017-06-30 | 3.84% |
| 2017-03-31 | 3.69% |
| 2016-12-31 | 2.23% |
| 2016-09-30 | 1.02% |
| 2016-06-30 | -0.73% |
| 2016-03-31 | 0.73% |
| 2015-12-31 | 1.25% |
| 2015-09-30 | -0.51% |
| 2015-06-30 | 0.82% |
| 2015-03-31 | -0.76% |
| 2014-12-31 | -0.37% |
| 2014-09-30 | 1.56% |
| 2014-06-30 | 1.39% |
| 2014-03-31 | 3.93% |
| 2013-12-31 | 5.33% |
| 2013-09-30 | 4.37% |
| 2013-06-30 | 4.05% |
| 2013-03-31 | 1.92% |
| 2012-12-31 | 1.79% |
| 2012-09-30 | 1.46% |
| 2012-06-30 | 0.63% |
| 2012-03-31 | 0.83% |
| 2011-12-31 | 0.85% |
| 2011-09-30 | 1.71% |
| 2011-06-30 | 3.03% |
| 2011-03-31 | 2.76% |
| 2010-12-31 | 2.69% |
| 2010-09-30 | 2.07% |
| 2010-06-30 | 2.75% |
| 2010-03-31 | 4.22% |
| 2009-12-31 | 4.67% |
| 2009-09-30 | 3.04% |
| 2009-06-30 | 3.37% |
| 2009-03-31 | 3.44% |
| 2008-12-31 | 3.66% |
| 2008-09-30 | 4.95% |
| 2008-06-30 | 4.61% |
| 2008-03-31 | 4.42% |
| 2007-12-31 | 4.29% |
| 2007-09-30 | 4.37% |
| 2007-06-30 | 4.36% |
| 2007-03-31 | 3.50% |
| 2006-12-31 | 3.49% |
| 2006-09-30 | 2.75% |
| 2006-06-30 | 2.62% |
| 2006-03-31 | 3.37% |
| 2005-12-31 | 1.96% |
| 2005-09-30 | 3.45% |
| 2005-06-30 | 3.21% |
| 2005-03-31 | 3.00% |
| 2003-12-31 | 2.79% |
| 2003-09-30 | 2.94% |
