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 6.63% is in line with its 5-year average of 6.28%, near the high end of its 5-year range (4.56%–6.82%).
As of the fiscal period ended Tuesday, June 30, 2026. 12.61% above its 12-month average of 5.89%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
6.63%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
5.89%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
5.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
6.28%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
5.33%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
5.88%
CURRENT VS TTM AVG
+12.61%
CURRENT VS 3Y AVG
+13.75%
CURRENT VS 5Y AVG
+5.60%
CURRENT VS 10Y AVG
+25.94%
CURRENT VS 15Y AVG
+24.47%
CURRENT VS 20Y AVG
+12.89%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 146 covered companies
CURRENT VS SECTOR MEDIAN
-30.57%
vs the sector median at left
Waste Connections, Inc.
Market Cap
$41.76B
Return on Invested Capital (ROIC)
6.63%
TTM Avg
5.89%
3Y Avg
5.83%
5Y Avg
6.28%
Market Cap
$41.61B
Return on Invested Capital (ROIC)
20.81%
TTM Avg
21.74%
3Y Avg
25.01%
5Y Avg
23.46%
Market Cap
$42.63B
Return on Invested Capital (ROIC)
6.80%
TTM Avg
3.93%
3Y Avg
3.03%
5Y Avg
2.49%
Market Cap
$39.09B
Return on Invested Capital (ROIC)
-6.11%
TTM Avg
-16.82%
3Y Avg
-18.54%
5Y Avg
-20.84%
Market Cap
$44.99B
Return on Invested Capital (ROIC)
20.44%
TTM Avg
18.61%
3Y Avg
25.57%
5Y Avg
26.74%
Market Cap
$45.24B
Return on Invested Capital (ROIC)
16.51%
TTM Avg
10.88%
3Y Avg
14.29%
5Y Avg
16.21%
Market Cap
$45.74B
Return on Invested Capital (ROIC)
11.04%
TTM Avg
11.66%
3Y Avg
11.11%
5Y Avg
10.22%
Market Cap
$46.95B
Return on Invested Capital (ROIC)
11.37%
TTM Avg
10.50%
3Y Avg
9.87%
5Y Avg
10.08%
Market Cap
$36.48B
Return on Invested Capital (ROIC)
6.46%
TTM Avg
6.91%
3Y Avg
5.85%
5Y Avg
1.40%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waste Connections, Inc. (WCN) | $41.76B | 6.63% | 5.89% | 5.83% | 6.28% |
| Old Dominion Freight Line, Inc. (ODFL)vs › | $41.61B | 20.81% | 21.74% | 25.01% | 23.46% |
| Ferrovial SE (FER)vs › | $42.63B | 6.80% | 3.93% | 3.03% | 2.49% |
| Rocket Lab USA, Inc. (RKLB)vs › | $39.09B | -6.11% | -16.82% | -18.54% | -20.84% |
| Paychex, Inc. (PAYX)vs › | $44.99B | 20.44% | 18.61% | 25.57% | 26.74% |
| Ferguson plc (FERG)vs › | $45.24B | 16.51% | 10.88% | 14.29% | 16.21% |
| Thomson Reuters Corporation (TRI)vs › | $45.74B | 11.04% | 11.66% | 11.11% | 10.22% |
| HEICO Corporation (HEI)vs › | $46.95B | 11.37% | 10.50% | 9.87% | 10.08% |
| United Airlines Holdings, Inc. (UAL)vs › | $36.48B | 6.46% | 6.91% | 5.85% | 1.40% |
| Rockwell Automation, Inc. (ROK)vs › | $48.18B | 19.92% | 13.19% | 14.28% | 13.82% |
ROIC
6.6%
ROE
13.4%
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 | 6.63% |
| 2026-03-31 | 6.71% |
| 2025-12-31 | 6.82% |
| 2025-09-30 | 4.56% |
| 2025-06-30 | 4.73% |
| 2025-03-31 | 4.73% |
| 2024-12-31 | 4.81% |
| 2024-09-30 | 6.33% |
| 2024-06-30 | 6.11% |
| 2024-03-31 | 5.74% |
| 2023-12-31 | 5.90% |
| 2023-09-30 | 6.33% |
| 2023-06-30 | 6.41% |
| 2023-03-31 | 6.44% |
| 2022-12-31 | 6.33% |
| 2022-09-30 | 6.40% |
| 2022-06-30 | 6.46% |
| 2022-03-31 | 6.05% |
| 2021-12-31 | 6.19% |
| 2021-09-30 | 6.12% |
| 2021-06-30 | 5.79% |
| 2021-03-31 | 2.60% |
| 2020-12-31 | 2.55% |
| 2020-09-30 | 2.57% |
| 2020-06-30 | 2.55% |
| 2020-03-31 | 5.28% |
| 2019-12-31 | 5.28% |
| 2019-09-30 | 5.48% |
| 2019-06-30 | 5.40% |
| 2019-03-31 | 5.33% |
| 2018-12-31 | 5.48% |
| 2018-09-30 | 7.09% |
| 2018-06-30 | 7.06% |
| 2018-03-31 | 7.03% |
| 2017-12-31 | 5.59% |
| 2017-09-30 | 3.90% |
| 2017-06-30 | 3.63% |
| 2017-03-31 | 2.74% |
| 2016-12-31 | 2.97% |
| 2016-09-30 | 2.53% |
| 2016-06-30 | -1.14% |
| 2016-03-31 | -1.54% |
| 2015-12-31 | -1.30% |
| 2015-09-30 | -1.10% |
| 2015-06-30 | 5.49% |
| 2015-03-31 | 5.57% |
| 2014-12-31 | 5.56% |
| 2014-09-30 | 5.53% |
| 2014-06-30 | 5.58% |
| 2014-03-31 | 5.43% |
| 2013-12-31 | 5.28% |
| 2013-09-30 | 5.13% |
| 2013-06-30 | 4.83% |
| 2013-03-31 | 4.49% |
| 2012-12-31 | 4.12% |
| 2012-09-30 | 5.69% |
| 2012-06-30 | 5.71% |
| 2012-03-31 | 6.00% |
| 2011-12-31 | 6.36% |
| 2011-09-30 | 6.23% |
| 2011-06-30 | 6.09% |
| 2011-03-31 | 6.44% |
| 2010-12-31 | 6.15% |
| 2010-09-30 | 6.16% |
| 2010-06-30 | 6.03% |
| 2010-03-31 | 5.89% |
| 2009-12-31 | 5.64% |
| 2009-09-30 | 5.65% |
| 2009-06-30 | 5.54% |
| 2009-03-31 | 5.49% |
| 2008-12-31 | 5.71% |
| 2008-09-30 | 5.98% |
| 2008-06-30 | 7.23% |
| 2008-03-31 | 7.16% |
| 2007-12-31 | 7.17% |
| 2007-09-30 | 7.15% |
| 2007-06-30 | 6.99% |
| 2007-03-31 | 6.60% |
| 2006-12-31 | 6.47% |
| 2006-09-30 | 6.19% |
| 2006-06-30 | 6.45% |
| 2006-03-31 | 6.82% |
| 2005-12-31 | 6.92% |
| 2005-09-30 | 6.98% |
| 2005-06-30 | 7.14% |
| 2005-03-31 | 7.05% |
| 2004-12-31 | 6.84% |
| 2004-09-30 | 7.44% |
| 2004-06-30 | 7.18% |
| 2004-03-31 | 7.12% |
| 2003-12-31 | 7.09% |
| 2003-09-30 | 7.00% |
| 2003-06-30 | 7.33% |
