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 8.99% is 37% below its 5-year average of 14.28%, near the low end of its 5-year range (8.99%–19.76%).
As of the fiscal period ended Tuesday, June 30, 2026. 14.62% below its 12-month average of 10.53%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
8.99%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
10.53%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
11.59%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
14.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
13.84%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
13.86%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
13.41%
CURRENT VS TTM AVG
-14.62%
CURRENT VS 3Y AVG
-22.42%
CURRENT VS 5Y AVG
-37.06%
CURRENT VS 10Y AVG
-35.04%
CURRENT VS 15Y AVG
-35.18%
CURRENT VS 20Y AVG
-32.95%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
-5.94%
vs the sector median at left
United Parcel Service, Inc.
Market Cap
$84.29B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
10.53%
3Y Avg
11.59%
5Y Avg
14.28%
Market Cap
$84.26B
Return on Invested Capital (ROIC)
7.93%
TTM Avg
6.36%
3Y Avg
6.09%
5Y Avg
7.57%
Market Cap
$84.79B
Return on Invested Capital (ROIC)
14.64%
TTM Avg
12.53%
3Y Avg
11.28%
5Y Avg
12.46%
Market Cap
$86.51B
Return on Invested Capital (ROIC)
9.01%
TTM Avg
8.59%
3Y Avg
9.20%
5Y Avg
8.88%
Market Cap
$80.05B
Return on Invested Capital (ROIC)
23.53%
TTM Avg
23.31%
3Y Avg
21.46%
5Y Avg
19.94%
Market Cap
$79.31B
Return on Invested Capital (ROIC)
7.65%
TTM Avg
1.50%
3Y Avg
-6.50%
5Y Avg
-6.96%
Market Cap
$79.18B
Return on Invested Capital (ROIC)
5.02%
TTM Avg
4.89%
3Y Avg
4.83%
5Y Avg
5.73%
Market Cap
$89.60B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
9.30%
3Y Avg
10.17%
5Y Avg
9.93%
Market Cap
$76.55B
Return on Invested Capital (ROIC)
10.95%
TTM Avg
12.63%
3Y Avg
10.01%
5Y Avg
10.48%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| United Parcel Service, Inc. (UPS) | $84.29B | 8.99% | 10.53% | 11.59% | 14.28% |
| Emerson Electric Co. (EMR)vs › | $84.26B | 7.93% | 6.36% | 6.09% | 7.57% |
| 3M Company (MMM)vs › | $84.79B | 14.64% | 12.53% | 11.28% | 12.46% |
| Waste Management, Inc. (WM)vs › | $86.51B | 9.01% | 8.59% | 9.20% | 8.88% |
| Cintas Corporation (CTAS)vs › | $80.05B | 23.53% | 23.31% | 21.46% | 19.94% |
| Bloom Energy Corporation (BE)vs › | $79.31B | 7.65% | 1.50% | -6.50% | -6.96% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $79.18B | 5.02% | 4.89% | 4.83% | 5.73% |
| CSX Corporation (CSX)vs › | $89.60B | 8.99% | 9.30% | 10.17% | 9.93% |
| Cummins Inc. (CMI)vs › | $76.55B | 10.95% | 12.63% | 10.01% | 10.48% |
| Illinois Tool Works Inc. (ITW)vs › | $75.95B | 24.71% | 25.90% | 25.08% | 23.03% |
ROIC
9.0%
ROE
30.3%
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 | 8.99% |
| 2026-03-31 | 10.03% |
| 2025-12-31 | 10.40% |
| 2025-09-30 | 11.39% |
| 2025-06-30 | 11.82% |
| 2025-03-31 | 12.53% |
| 2024-12-31 | 12.23% |
| 2024-09-30 | 11.73% |
| 2024-06-30 | 10.69% |
| 2024-03-31 | 12.50% |
| 2023-12-31 | 13.05% |
| 2023-09-30 | 13.66% |
| 2023-06-30 | 15.60% |
| 2023-03-31 | 16.15% |
| 2022-12-31 | 18.26% |
| 2022-09-30 | 19.76% |
| 2022-06-30 | 19.23% |
| 2022-03-31 | 19.07% |
| 2021-12-31 | 18.86% |
| 2021-09-30 | 17.30% |
| 2021-06-30 | 16.62% |
| 2021-03-31 | 15.26% |
| 2020-12-31 | 12.04% |
| 2020-09-30 | 12.24% |
| 2020-06-30 | 11.95% |
| 2020-03-31 | 11.83% |
| 2019-12-31 | 13.24% |
| 2019-09-30 | 13.97% |
| 2019-06-30 | 13.38% |
| 2019-03-31 | 12.99% |
| 2018-12-31 | 14.54% |
| 2018-09-30 | 15.05% |
| 2018-06-30 | 15.38% |
| 2018-03-31 | 14.87% |
| 2017-12-31 | 14.28% |
| 2017-09-30 | 10.16% |
| 2017-06-30 | 10.86% |
| 2017-03-31 | 11.28% |
| 2016-12-31 | 10.90% |
| 2016-09-30 | 16.50% |
| 2016-06-30 | 16.67% |
| 2016-03-31 | 16.15% |
| 2015-12-31 | 16.52% |
| 2015-09-30 | 13.21% |
| 2015-06-30 | 13.73% |
| 2015-03-31 | 11.24% |
| 2014-12-31 | 11.72% |
| 2014-09-30 | 13.54% |
| 2014-06-30 | 13.51% |
| 2014-03-31 | 14.87% |
| 2013-12-31 | 15.82% |
| 2013-09-30 | 5.54% |
| 2013-06-30 | 3.82% |
| 2013-03-31 | 3.82% |
| 2012-12-31 | 3.45% |
| 2012-09-30 | 11.04% |
| 2012-06-30 | 13.65% |
| 2012-03-31 | 14.07% |
| 2011-12-31 | 14.30% |
| 2011-09-30 | 14.93% |
| 2011-06-30 | 14.73% |
| 2011-03-31 | 14.22% |
| 2010-12-31 | 13.23% |
| 2010-09-30 | 12.33% |
| 2010-06-30 | 10.68% |
| 2010-03-31 | 9.67% |
| 2009-12-31 | 9.17% |
| 2009-09-30 | 7.08% |
| 2009-06-30 | 8.55% |
| 2009-03-31 | 9.56% |
| 2008-12-31 | 12.33% |
| 2008-09-30 | 1.02% |
| 2008-06-30 | 1.27% |
| 2008-03-31 | 1.95% |
| 2007-12-31 | 1.57% |
| 2007-09-30 | 15.15% |
| 2007-06-30 | 15.12% |
| 2007-03-31 | 15.21% |
| 2006-12-31 | 15.59% |
| 2006-09-30 | 14.02% |
| 2006-06-30 | 14.26% |
| 2006-03-31 | 14.11% |
| 2005-12-31 | 13.51% |
| 2005-09-30 | 12.77% |
| 2005-06-30 | 13.14% |
| 2005-03-31 | 12.68% |
| 2004-12-31 | 12.18% |
| 2004-09-30 | 12.94% |
| 2004-06-30 | 12.82% |
| 2004-03-31 | 12.52% |
| 2003-12-31 | 11.84% |
| 2003-09-30 | 12.81% |
| 2003-06-30 | 12.45% |
