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 2.34% is 206% above its 5-year average of -2.21%, near the high end of its 5-year range (-11.24%–6.17%).
As of the fiscal period ended Tuesday, June 30, 2026. 124.41% above its 12-month average of 1.04%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 2.34%.
RETURN ON INVESTED CAPITAL (ROIC)
2.34%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
1.04%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
-3.80%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
-2.21%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
2.25%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
5.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
4.47%
CURRENT VS TTM AVG
+124.41%
CURRENT VS 3Y AVG
+161.53%
CURRENT VS 5Y AVG
+205.81%
CURRENT VS 10Y AVG
+3.93%
CURRENT VS 15Y AVG
-59.46%
CURRENT VS 20Y AVG
-47.63%
SECTOR MEDIAN · COMMUNICATION SERVICES
6.77%
median of 30 covered companies
CURRENT VS SECTOR MEDIAN
-65.41%
vs the sector median at left
Warner Bros. Discovery, Inc.
Market Cap
$77.34B
Return on Invested Capital (ROIC)
2.34%
TTM Avg
1.04%
3Y Avg
-3.80%
5Y Avg
-2.21%
Market Cap
$77.66B
Return on Invested Capital (ROIC)
6.12%
TTM Avg
7.49%
3Y Avg
6.98%
5Y Avg
6.56%
Market Cap
$84.10B
Return on Invested Capital (ROIC)
7.28%
TTM Avg
2.50%
3Y Avg
-4.58%
5Y Avg
-5.91%
Market Cap
$104.51B
Return on Invested Capital (ROIC)
29.14%
TTM Avg
18.19%
3Y Avg
2.45%
5Y Avg
0.43%
Market Cap
$39.83B
Return on Invested Capital (ROIC)
3.73%
TTM Avg
7.85%
3Y Avg
7.53%
5Y Avg
0.14%
Market Cap
$29.04B
Return on Invested Capital (ROIC)
23.61%
TTM Avg
-5.53%
3Y Avg
-8.04%
5Y Avg
-8.91%
Market Cap
$27.69B
Return on Invested Capital (ROIC)
12.80%
TTM Avg
12.36%
3Y Avg
11.09%
5Y Avg
10.65%
Market Cap
$22.67B
Return on Invested Capital (ROIC)
7.56%
TTM Avg
-3.63%
3Y Avg
-12.34%
5Y Avg
-7.26%
Market Cap
$20.86B
Return on Invested Capital (ROIC)
7.04%
TTM Avg
9.14%
3Y Avg
10.96%
5Y Avg
11.24%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Warner Bros. Discovery, Inc. (WBD) | $77.34B | 2.34% | 1.04% | -3.80% | -2.21% |
| Comcast Corporation (CMCSA)vs › | $77.66B | 6.12% | 7.49% | 6.98% | 6.56% |
| DoorDash, Inc. (DASH)vs › | $84.10B | 7.28% | 2.50% | -4.58% | -5.91% |
| Spotify Technology S.A. (SPOT)vs › | $104.51B | 29.14% | 18.19% | 2.45% | 0.43% |
| Live Nation Entertainment, Inc. (LYV)vs › | $39.83B | 3.73% | 7.85% | 7.53% | 0.14% |
| Reddit, Inc. (RDDT)vs › | $29.04B | 23.61% | -5.53% | -8.04% | -8.91% |
| Fox Corporation (FOXA)vs › | $27.69B | 12.80% | 12.36% | 11.09% | 10.65% |
| Roku, Inc. (ROKU)vs › | $22.67B | 7.56% | -3.63% | -12.34% | -7.26% |
| Omnicom Group Inc. (OMC)vs › | $20.86B | 7.04% | 9.14% | 10.96% | 11.24% |
| News Corporation (NWSA)vs › | $16.03B | 5.72% | 5.46% | 4.42% | 4.67% |
ROIC
2.3%
ROE
-9.6%
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 | 2.34% |
| 2026-03-31 | 1.82% |
| 2025-12-31 | 0.58% |
| 2025-09-30 | 0.34% |
| 2025-06-30 | 0.14% |
| 2025-03-31 | -10.99% |
| 2024-12-31 | -10.96% |
| 2024-09-30 | -11.08% |
| 2024-06-30 | -11.24% |
| 2024-03-31 | -1.18% |
| 2023-12-31 | -1.42% |
| 2023-09-30 | -2.95% |
| 2023-06-30 | -4.84% |
| 2023-03-31 | -7.03% |
| 2022-12-31 | -6.18% |
| 2022-09-30 | -4.05% |
| 2022-06-30 | -1.90% |
| 2022-03-31 | 5.19% |
| 2021-12-31 | 5.37% |
| 2021-09-30 | 5.43% |
| 2021-06-30 | 6.17% |
| 2021-03-31 | 5.29% |
| 2020-12-31 | 6.29% |
| 2020-09-30 | 7.27% |
| 2020-06-30 | 6.92% |
| 2020-03-31 | 9.44% |
| 2019-12-31 | 9.33% |
| 2019-09-30 | 8.86% |
| 2019-06-30 | 8.20% |
| 2019-03-31 | 5.62% |
| 2018-12-31 | 4.24% |
| 2018-09-30 | 1.26% |
| 2018-06-30 | 1.43% |
| 2018-03-31 | 1.33% |
| 2017-12-31 | 3.44% |
| 2017-09-30 | 7.94% |
| 2017-06-30 | 10.53% |
| 2017-03-31 | 10.62% |
| 2016-12-31 | 10.57% |
| 2016-09-30 | 10.00% |
| 2016-06-30 | 10.19% |
| 2016-03-31 | 9.35% |
| 2015-12-31 | 9.26% |
| 2015-09-30 | 9.70% |
| 2015-06-30 | 9.30% |
| 2015-03-31 | 9.50% |
| 2014-12-31 | 9.27% |
| 2014-09-30 | 9.20% |
| 2014-06-30 | 9.00% |
| 2014-03-31 | 8.92% |
| 2013-12-31 | 8.94% |
| 2013-09-30 | 8.45% |
| 2013-06-30 | 8.27% |
| 2013-03-31 | 8.48% |
| 2012-12-31 | 9.72% |
| 2012-09-30 | 11.08% |
| 2012-06-30 | 10.96% |
| 2012-03-31 | 11.27% |
| 2011-12-31 | 11.70% |
| 2011-09-30 | 10.39% |
| 2011-06-30 | 9.63% |
| 2011-03-31 | 10.11% |
| 2010-12-31 | 9.18% |
| 2010-09-30 | 8.35% |
| 2010-06-30 | 7.88% |
| 2010-03-31 | 7.24% |
| 2009-12-31 | 6.78% |
| 2009-09-30 | 6.86% |
| 2009-06-30 | 7.37% |
| 2009-03-31 | 6.45% |
| 2008-12-31 | 6.44% |
| 2008-09-30 | 3.44% |
| 2008-06-30 | 5.29% |
| 2008-03-31 | 0.95% |
| 2007-12-31 | -2.96% |
| 2007-09-30 | -0.17% |
| 2007-06-30 | -1.02% |
| 2007-03-31 | -1.08% |
| 2006-12-31 | -2.00% |
| 2006-09-30 | -1.82% |
| 2006-06-30 | -0.08% |
| 2006-03-31 | -0.07% |
| 2005-12-31 | -0.01% |
| 2005-09-30 | -0.02% |
| 2005-06-30 | 0.03% |
| 2005-03-31 | 0.15% |
| 2004-12-31 | 1.01% |
