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 29.12% is 964% above its 5-year average of 2.74%, near the high end of its 5-year range (-22.12%–29.12%).
As of the fiscal period ended Tuesday, June 30, 2026. 39.59% above its 12-month average of 20.86%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 29.12%.
RETURN ON INVESTED CAPITAL (ROIC)
29.12%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
20.86%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
7.99%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
2.74%
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
+39.59%
CURRENT VS 3Y AVG
+264.31%
CURRENT VS 5Y AVG
+964.35%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · COMMUNICATION SERVICES
6.70%
median of 31 covered companies
CURRENT VS SECTOR MEDIAN
+334.68%
vs the sector median at left
Spotify Technology S.A.
Market Cap
$107.65B
Return on Invested Capital (ROIC)
29.12%
TTM Avg
20.86%
3Y Avg
7.99%
5Y Avg
2.74%
Market Cap
$89.44B
Return on Invested Capital (ROIC)
6.12%
TTM Avg
7.49%
3Y Avg
6.98%
5Y Avg
6.56%
Market Cap
$87.97B
Return on Invested Capital (ROIC)
7.28%
TTM Avg
2.50%
3Y Avg
-4.58%
5Y Avg
-5.91%
Market Cap
$70.52B
Return on Invested Capital (ROIC)
2.34%
TTM Avg
-5.07%
3Y Avg
-4.44%
5Y Avg
-1.01%
Market Cap
$175.04B
Return on Invested Capital (ROIC)
5.96%
TTM Avg
5.40%
3Y Avg
3.71%
5Y Avg
4.14%
Market Cap
$39.31B
Return on Invested Capital (ROIC)
3.73%
TTM Avg
7.85%
3Y Avg
7.53%
5Y Avg
0.14%
Market Cap
$182.23B
Return on Invested Capital (ROIC)
6.43%
TTM Avg
6.74%
3Y Avg
4.90%
5Y Avg
3.95%
Market Cap
$30.00B
Return on Invested Capital (ROIC)
23.61%
TTM Avg
-5.53%
3Y Avg
-8.04%
5Y Avg
-8.91%
Market Cap
$28.43B
Return on Invested Capital (ROIC)
12.80%
TTM Avg
12.36%
3Y Avg
11.09%
5Y Avg
10.65%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Spotify Technology S.A. (SPOT) | $107.65B | 29.12% | 20.86% | 7.99% | 2.74% |
| Comcast Corporation (CMCSA)vs › | $89.44B | 6.12% | 7.49% | 6.98% | 6.56% |
| DoorDash, Inc. (DASH)vs › | $87.97B | 7.28% | 2.50% | -4.58% | -5.91% |
| Warner Bros. Discovery, Inc. (WBD)vs › | $70.52B | 2.34% | -5.07% | -4.44% | -1.01% |
| AT&T Inc. (T)vs › | $175.04B | 5.96% | 5.40% | 3.71% | 4.14% |
| Live Nation Entertainment, Inc. (LYV)vs › | $39.31B | 3.73% | 7.85% | 7.53% | 0.14% |
| The Walt Disney Company (DIS)vs › | $182.23B | 6.43% | 6.74% | 4.90% | 3.95% |
| Reddit, Inc. (RDDT)vs › | $30.00B | 23.61% | -5.53% | -8.04% | -8.91% |
| Fox Corporation (FOXA)vs › | $28.43B | 12.80% | 12.36% | 11.09% | 10.65% |
| T-Mobile US, Inc. (TMUS)vs › | $189.10B | 7.29% | 7.22% | 5.72% | 4.83% |
ROIC
29.1%
ROE
40.6%
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 | 29.12% |
| 2026-03-31 | 27.35% |
| 2025-12-31 | 20.75% |
| 2025-09-30 | 15.28% |
| 2025-06-30 | 11.81% |
| 2025-03-30 | 15.82% |
| 2024-12-31 | 15.91% |
| 2024-09-30 | 12.19% |
| 2024-06-30 | 6.41% |
| 2024-03-31 | -2.48% |
| 2023-12-31 | -10.34% |
| 2023-09-30 | -15.78% |
| 2023-06-30 | -22.12% |
| 2023-03-31 | -19.12% |
| 2022-12-31 | -15.57% |
| 2022-09-30 | -11.02% |
| 2022-06-30 | -1.70% |
| 2022-03-31 | 1.09% |
| 2021-12-31 | 1.34% |
| 2021-09-30 | 0.40% |
| 2021-06-30 | -1.88% |
| 2021-03-31 | -5.06% |
| 2020-12-31 | -8.07% |
| 2020-09-30 | -9.36% |
| 2020-06-30 | -7.52% |
| 2020-03-31 | -0.92% |
| 2019-12-31 | -2.81% |
| 2019-09-30 | 3.50% |
| 2019-06-30 | 1.56% |
| 2019-03-31 | -1.64% |
| 2018-12-31 | -2.19% |
| 2018-09-30 | -13.74% |
| 2018-06-30 | -27.30% |
| 2018-03-31 | -21.50% |
| 2017-12-31 | -27.91% |
