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 17.69% is 19% above its 5-year average of 14.88%, near the high end of its 5-year range (7.77%–18.81%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.01% above its 12-month average of 16.84%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 17.69%.
RETURN ON INVESTED CAPITAL (ROIC)
17.69%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
16.84%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
15.12%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
14.88%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
14.81%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
15.95%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
12.92%
CURRENT VS TTM AVG
+5.01%
CURRENT VS 3Y AVG
+16.97%
CURRENT VS 5Y AVG
+18.86%
CURRENT VS 10Y AVG
+19.42%
CURRENT VS 15Y AVG
+10.93%
CURRENT VS 20Y AVG
+36.94%
SECTOR MEDIAN · HEALTHCARE
8.75%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+102.26%
vs the sector median at left
United Therapeutics Corporation
Market Cap
$21.10B
Return on Invested Capital (ROIC)
17.69%
TTM Avg
16.84%
3Y Avg
15.12%
5Y Avg
14.88%
Market Cap
$20.54B
Return on Invested Capital (ROIC)
8.74%
TTM Avg
7.84%
3Y Avg
7.14%
5Y Avg
6.51%
Market Cap
$19.23B
Return on Invested Capital (ROIC)
-0.29%
TTM Avg
-4.13%
3Y Avg
-1.14%
5Y Avg
-0.84%
Market Cap
$18.09B
Return on Invested Capital (ROIC)
5.51%
TTM Avg
5.58%
3Y Avg
5.01%
5Y Avg
4.00%
Market Cap
$24.30B
Return on Invested Capital (ROIC)
-10.37%
TTM Avg
-4.85%
3Y Avg
9.52%
5Y Avg
19.51%
Market Cap
$24.37B
Return on Invested Capital (ROIC)
15.77%
TTM Avg
14.65%
3Y Avg
16.96%
5Y Avg
17.76%
Market Cap
$24.62B
Return on Invested Capital (ROIC)
22.95%
TTM Avg
10.25%
3Y Avg
9.28%
5Y Avg
7.08%
Market Cap
$25.55B
Return on Invested Capital (ROIC)
8.02%
TTM Avg
6.33%
3Y Avg
5.68%
5Y Avg
7.63%
Market Cap
$16.40B
Return on Invested Capital (ROIC)
77.00%
TTM Avg
52.59%
3Y Avg
46.08%
5Y Avg
35.95%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| United Therapeutics Corporation (UTHR) | $21.10B | 17.69% | 16.84% | 15.12% | 14.88% |
| STERIS plc (STE)vs › | $20.54B | 8.74% | 7.84% | 7.14% | 6.51% |
| Viatris Inc. (VTRS)vs › | $19.23B | -0.29% | -4.13% | -1.14% | -0.84% |
| Zimmer Biomet Holdings, Inc. (ZBH)vs › | $18.09B | 5.51% | 5.58% | 5.01% | 4.00% |
| BioNTech SE (BNTX)vs › | $24.30B | -10.37% | -4.85% | 9.52% | 19.51% |
| West Pharmaceutical Services, Inc. (WST)vs › | $24.37B | 15.77% | 14.65% | 16.96% | 17.76% |
| Incyte Corporation (INCY)vs › | $24.62B | 22.95% | 10.25% | 9.28% | 7.08% |
| Labcorp Holdings Inc. (LH)vs › | $25.55B | 8.02% | 6.33% | 5.68% | 7.63% |
| Medpace Holdings, Inc. (MEDP)vs › | $16.40B | 77.00% | 52.59% | 46.08% | 35.95% |
| Quest Diagnostics Incorporated (DGX)vs › | $25.94B | 8.25% | 7.70% | 8.24% | 10.04% |
ROIC
17.7%
ROE
20.5%
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 | 17.69% |
| 2026-03-31 | 18.81% |
| 2025-12-31 | 15.90% |
| 2025-09-30 | 16.76% |
| 2025-06-30 | 15.07% |
| 2025-03-31 | 15.04% |
| 2024-12-31 | 15.44% |
| 2024-09-30 | 14.86% |
| 2024-06-30 | 15.33% |
| 2024-03-31 | 15.84% |
| 2023-12-31 | 13.54% |
| 2023-09-30 | 13.00% |
| 2023-06-30 | 13.43% |
| 2023-03-31 | 12.64% |
| 2022-12-31 | 13.15% |
| 2022-09-30 | 13.82% |
| 2022-06-30 | 13.37% |
| 2022-03-31 | 14.17% |
| 2021-12-31 | 9.16% |
| 2021-09-30 | 7.77% |
| 2021-06-30 | 7.92% |
| 2021-03-31 | 6.77% |
| 2020-12-31 | 11.14% |
| 2020-09-30 | 11.27% |
| 2020-06-30 | 11.11% |
| 2020-03-31 | 13.35% |
| 2019-12-31 | -5.07% |
| 2019-09-30 | -3.16% |
| 2019-06-30 | -4.16% |
| 2019-03-31 | -4.55% |
| 2018-12-31 | 20.01% |
| 2018-09-30 | 17.97% |
| 2018-06-30 | 24.58% |
| 2018-03-31 | 18.86% |
| 2017-12-31 | 18.41% |
| 2017-09-30 | 22.58% |
| 2017-06-30 | 20.01% |
| 2017-03-31 | 30.84% |
| 2016-12-31 | 35.86% |
| 2016-09-30 | 36.15% |
| 2016-06-30 | 40.86% |
| 2016-03-31 | 37.13% |
| 2015-12-31 | 24.94% |
| 2015-09-30 | 27.61% |
| 2015-06-30 | 14.74% |
| 2015-03-31 | 14.22% |
| 2014-12-31 | 23.16% |
| 2014-09-30 | 12.58% |
| 2014-06-30 | 17.48% |
| 2014-03-31 | 14.82% |
| 2013-12-31 | 10.88% |
| 2013-09-30 | 17.79% |
| 2013-06-30 | 18.52% |
| 2013-03-31 | 18.62% |
| 2012-12-31 | 20.09% |
| 2012-09-30 | 17.67% |
| 2012-06-30 | 20.21% |
| 2012-03-31 | 21.30% |
| 2011-12-31 | 18.87% |
| 2011-09-30 | 14.40% |
| 2011-06-30 | 12.49% |
| 2011-03-31 | 9.30% |
| 2010-12-31 | 9.48% |
| 2010-09-30 | 9.18% |
| 2010-06-30 | 7.09% |
| 2010-03-31 | 3.38% |
| 2009-12-31 | 2.76% |
| 2009-09-30 | -15.02% |
| 2009-06-30 | -11.35% |
| 2009-03-31 | -9.04% |
| 2008-12-31 | -10.09% |
| 2008-09-30 | 4.38% |
| 2008-06-30 | 5.04% |
| 2008-03-31 | 4.18% |
| 2007-12-31 | 1.12% |
| 2007-09-30 | 3.80% |
| 2007-06-30 | 3.46% |
| 2007-03-31 | 4.55% |
| 2006-12-31 | 6.31% |
| 2006-09-30 | 12.88% |
| 2006-06-30 | 12.90% |
| 2006-03-31 | 13.42% |
| 2005-12-31 | 15.49% |
| 2005-09-30 | 16.15% |
| 2005-06-30 | 13.69% |
| 2005-03-31 | 10.94% |
| 2004-12-31 | 6.83% |
| 2004-09-30 | 1.86% |
| 2004-06-30 | -2.37% |
| 2004-03-31 | -6.30% |
| 2003-12-31 | -6.79% |
| 2003-09-30 | -6.42% |
| 2003-06-30 | -9.18% |