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 11.04% is 10% above its 5-year average of 10.00%, near the high end of its 5-year range (4.95%–13.20%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.67% above its 12-month average of 10.97%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
11.04%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
10.97%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
11.78%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
10.00%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
8.13%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
7.38%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
6.89%
CURRENT VS TTM AVG
+0.67%
CURRENT VS 3Y AVG
-6.32%
CURRENT VS 5Y AVG
+10.39%
CURRENT VS 10Y AVG
+35.87%
CURRENT VS 15Y AVG
+49.56%
CURRENT VS 20Y AVG
+60.28%
SECTOR MEDIAN · INDUSTRIALS
9.56%
median of 151 covered companies
CURRENT VS SECTOR MEDIAN
+15.48%
vs the sector median at left
Thomson Reuters Corporation
Market Cap
$46.37B
Return on Invested Capital (ROIC)
11.04%
TTM Avg
10.97%
3Y Avg
11.78%
5Y Avg
10.00%
Market Cap
$46.89B
Return on Invested Capital (ROIC)
11.37%
TTM Avg
10.50%
3Y Avg
9.87%
5Y Avg
10.08%
Market Cap
$45.19B
Return on Invested Capital (ROIC)
20.44%
TTM Avg
18.61%
3Y Avg
25.57%
5Y Avg
26.74%
Market Cap
$47.94B
Return on Invested Capital (ROIC)
19.92%
TTM Avg
13.19%
3Y Avg
14.28%
5Y Avg
13.82%
Market Cap
$48.16B
Return on Invested Capital (ROIC)
11.26%
TTM Avg
10.50%
3Y Avg
9.87%
5Y Avg
10.08%
Market Cap
$48.42B
Return on Invested Capital (ROIC)
1.09%
TTM Avg
0.27%
3Y Avg
2.42%
5Y Avg
-0.79%
Market Cap
$44.31B
Return on Invested Capital (ROIC)
16.51%
TTM Avg
10.88%
3Y Avg
14.29%
5Y Avg
16.21%
Market Cap
$48.46B
Return on Invested Capital (ROIC)
5.03%
TTM Avg
4.58%
3Y Avg
5.74%
5Y Avg
7.20%
Market Cap
$48.94B
Return on Invested Capital (ROIC)
5.30%
TTM Avg
5.24%
3Y Avg
5.14%
5Y Avg
4.21%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Thomson Reuters Corporation (TRI) | $46.37B | 11.04% | 10.97% | 11.78% | 10.00% |
| HEICO Corporation (HEI)vs › | $46.89B | 11.37% | 10.50% | 9.87% | 10.08% |
| Paychex, Inc. (PAYX)vs › | $45.19B | 20.44% | 18.61% | 25.57% | 26.74% |
| Rockwell Automation, Inc. (ROK)vs › | $47.94B | 19.92% | 13.19% | 14.28% | 13.82% |
| HEICO Corporation (HEI-A)vs › | $48.16B | 11.26% | 10.50% | 9.87% | 10.08% |
| Axon Enterprise, Inc. (AXON)vs › | $48.42B | 1.09% | 0.27% | 2.42% | -0.79% |
| Ferguson plc (FERG)vs › | $44.31B | 16.51% | 10.88% | 14.29% | 16.21% |
| Carrier Global Corporation (CARR)vs › | $48.46B | 5.03% | 4.58% | 5.74% | 7.20% |
| L3Harris Technologies, Inc. (LHX)vs › | $48.94B | 5.30% | 5.24% | 5.14% | 4.21% |
| Westinghouse Air Brake Technologies Corporation (WAB)vs › | $49.36B | 7.64% | 7.77% | 6.65% | 5.74% |
ROIC
11.0%
ROE
15.0%
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 | 11.04% |
| 2026-03-31 | 10.11% |
| 2025-12-31 | 10.04% |
| 2025-09-30 | 12.47% |
| 2025-06-30 | 11.18% |
| 2025-03-31 | 12.98% |
| 2024-12-31 | 13.20% |
| 2024-09-30 | 12.23% |
| 2024-06-30 | 12.39% |
| 2024-03-31 | 13.09% |
| 2023-12-31 | 12.73% |
| 2023-09-30 | 11.52% |
| 2023-06-30 | 10.23% |
| 2023-03-31 | 8.69% |
| 2022-12-31 | 8.37% |
| 2022-09-30 | 7.75% |
| 2022-06-30 | 7.03% |
| 2022-03-31 | 5.37% |
| 2021-12-31 | 4.95% |
| 2021-09-30 | 7.52% |
| 2021-06-30 | 7.13% |
| 2021-03-31 | 7.74% |
| 2020-12-31 | 11.93% |
| 2020-09-30 | 7.96% |
| 2020-06-30 | 7.62% |
| 2020-03-31 | 8.18% |
| 2019-12-31 | 8.18% |
| 2019-09-30 | 7.07% |
| 2019-06-30 | 3.96% |
| 2019-03-31 | 3.07% |
| 2018-12-31 | 3.17% |
| 2018-09-30 | 4.92% |
| 2018-06-30 | 5.38% |
| 2018-03-31 | 5.22% |
| 2017-12-31 | 5.25% |
| 2017-09-30 | 4.41% |
| 2017-06-30 | 4.80% |
| 2017-03-31 | 5.64% |
| 2016-12-31 | 5.70% |
| 2016-09-30 | 6.47% |
| 2016-06-30 | 6.45% |
| 2016-03-31 | 6.09% |
| 2015-12-31 | 6.08% |
| 2015-09-30 | 9.23% |
| 2015-06-30 | 9.20% |
| 2015-03-31 | 9.29% |
| 2014-12-31 | 9.30% |
| 2014-09-30 | 2.79% |
| 2014-06-30 | 2.50% |
| 2014-03-31 | 2.92% |
| 2013-12-31 | 2.95% |
| 2013-09-30 | 4.31% |
| 2013-06-30 | 4.95% |
| 2013-03-31 | 7.38% |
| 2012-12-31 | 8.50% |
| 2012-09-30 | -1.97% |
| 2012-06-30 | -0.97% |
| 2012-03-31 | -2.62% |
| 2011-12-31 | -2.49% |
| 2011-09-30 | 5.54% |
| 2011-06-30 | 4.97% |
| 2011-03-31 | 4.12% |
| 2010-12-31 | 3.96% |
| 2010-09-30 | 4.67% |
| 2010-06-30 | 5.00% |
| 2010-03-31 | 5.03% |
| 2009-12-31 | 5.14% |
| 2009-09-30 | 5.81% |
| 2009-06-30 | 5.27% |
| 2009-03-31 | 4.58% |
| 2008-12-31 | 4.50% |
| 2008-09-30 | 3.54% |
| 2008-06-30 | 2.95% |
| 2008-03-31 | 4.84% |
| 2007-12-31 | 5.61% |
| 2007-09-30 | 5.70% |
| 2007-06-30 | 6.30% |
| 2007-03-31 | 5.94% |
| 2006-12-31 | 5.80% |
| 2006-09-30 | 5.88% |
| 2006-06-30 | 6.61% |
| 2006-03-31 | 7.33% |
| 2005-12-31 | 6.72% |
| 2005-09-30 | 7.10% |
| 2005-06-30 | 7.34% |
| 2005-03-31 | 6.27% |
| 2004-12-31 | 6.07% |
| 2004-09-30 | 6.90% |
| 2004-06-30 | 6.59% |
| 2004-03-31 | 6.54% |
| 2003-12-31 | 6.19% |
| 2003-09-30 | 5.74% |
| 2003-06-30 | 5.87% |
