Basis: Latest reported fiscal year. 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 21.05% is 5013% above its 5-year average of 0.41%, near the high end of its 5-year range (-16.13%–21.05%).
As of the fiscal period ended Wednesday, December 31, 2025. 15.72% above its 12-month average of 18.19%.
Annual fiscal-year return on invested capital; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
21.05%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
18.19%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
2.45%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
0.41%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
-14.63%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
N/A
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
N/A
CURRENT VS TTM AVG
+15.72%
CURRENT VS 3Y AVG
+758.31%
CURRENT VS 5Y AVG
+5013.36%
CURRENT VS 10Y AVG
+243.88%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · COMMUNICATION SERVICES
6.32%
median of 28 covered companies
CURRENT VS SECTOR MEDIAN
+233.07%
vs the sector median at left
Spotify Technology S.A.
Market Cap
$101.51B
Return on Invested Capital (ROIC)
21.05%
TTM Avg
18.19%
3Y Avg
2.45%
5Y Avg
0.41%
Market Cap
$81.30B
Return on Invested Capital (ROIC)
6.42%
TTM Avg
7.49%
3Y Avg
6.93%
5Y Avg
6.52%
Market Cap
$80.11B
Return on Invested Capital (ROIC)
5.29%
TTM Avg
2.48%
3Y Avg
-4.46%
5Y Avg
-5.82%
Market Cap
$64.13B
Return on Invested Capital (ROIC)
0.68%
TTM Avg
-5.14%
3Y Avg
-4.11%
5Y Avg
-0.80%
Market Cap
$41.64B
Return on Invested Capital (ROIC)
7.87%
TTM Avg
7.79%
3Y Avg
7.46%
5Y Avg
0.23%
Market Cap
$167.40B
Return on Invested Capital (ROIC)
5.57%
TTM Avg
5.30%
3Y Avg
3.67%
5Y Avg
4.11%
Market Cap
$34.80B
Return on Invested Capital (ROIC)
14.86%
TTM Avg
-5.48%
3Y Avg
-8.00%
5Y Avg
-8.84%
Market Cap
$168.34B
Return on Invested Capital (ROIC)
8.11%
TTM Avg
6.74%
3Y Avg
4.90%
5Y Avg
3.95%
Market Cap
$25.19B
Return on Invested Capital (ROIC)
11.89%
TTM Avg
10.59%
3Y Avg
10.21%
5Y Avg
9.99%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Spotify Technology S.A. (SPOT) | $101.51B | 21.05% | 18.19% | 2.45% | 0.41% |
| Comcast Corporation (CMCSA)vs › | $81.30B | 6.42% | 7.49% | 6.93% | 6.52% |
| DoorDash, Inc. (DASH)vs › | $80.11B | 5.29% | 2.48% | -4.46% | -5.82% |
| Warner Bros. Discovery, Inc. (WBD)vs › | $64.13B | 0.68% | -5.14% | -4.11% | -0.80% |
| Live Nation Entertainment, Inc. (LYV)vs › | $41.64B | 7.87% | 7.79% | 7.46% | 0.23% |
| AT&T Inc. (T)vs › | $167.40B | 5.57% | 5.30% | 3.67% | 4.11% |
| Reddit, Inc. (RDDT)vs › | $34.80B | 14.86% | -5.48% | -8.00% | -8.84% |
| The Walt Disney Company (DIS)vs › | $168.34B | 8.11% | 6.74% | 4.90% | 3.95% |
| Fox Corporation (FOXA)vs › | $25.19B | 11.89% | 10.59% | 10.21% | 9.99% |
| EchoStar Corporation (SATS)vs › | $25.06B | -0.18% | -0.36% | 0.49% | 8.28% |
ROIC
21.1%
ROE
34.2%
ROIC = NOPAT / Invested Capital
Return on invested capital measures the after-tax return a company earns on all capital (debt and equity) invested in the business.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | RETURN ON INVESTED CAPITAL (ROIC) |
|---|---|
| 2025-12-31 | 21.05% |
| 2024-12-31 | 15.33% |
| 2023-12-31 | -10.44% |
| 2022-12-31 | -16.13% |
| 2021-12-31 | -0.32% |
| 2020-12-31 | -7.02% |
| 2019-12-31 | -2.75% |
| 2018-12-31 | -0.88% |
| 2017-12-31 | -29.52% |
| 2016-12-31 | -39.24% |
| 2015-12-31 | -91.01% |
