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 9.01% is in line with its 5-year average of 9.29%, around the middle of its 5-year range (8.22%–10.65%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.64% above its 12-month average of 8.78%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 9.01%.
RETURN ON INVESTED CAPITAL (ROIC)
9.01%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
8.78%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
9.36%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
9.29%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
9.23%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
8.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
8.51%
CURRENT VS TTM AVG
+2.64%
CURRENT VS 3Y AVG
-3.73%
CURRENT VS 5Y AVG
-2.95%
CURRENT VS 10Y AVG
-2.33%
CURRENT VS 15Y AVG
+2.70%
CURRENT VS 20Y AVG
+5.84%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
-5.69%
vs the sector median at left
Waste Management, Inc.
Market Cap
$82.85B
Return on Invested Capital (ROIC)
9.01%
TTM Avg
8.78%
3Y Avg
9.36%
5Y Avg
9.29%
Market Cap
$80.40B
Return on Invested Capital (ROIC)
23.53%
TTM Avg
23.31%
3Y Avg
21.46%
5Y Avg
19.94%
Market Cap
$86.72B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
9.30%
3Y Avg
10.17%
5Y Avg
9.93%
Market Cap
$86.78B
Return on Invested Capital (ROIC)
14.64%
TTM Avg
12.53%
3Y Avg
11.28%
5Y Avg
12.46%
Market Cap
$78.91B
Return on Invested Capital (ROIC)
8.99%
TTM Avg
11.29%
3Y Avg
13.45%
5Y Avg
14.09%
Market Cap
$78.39B
Return on Invested Capital (ROIC)
24.71%
TTM Avg
25.90%
3Y Avg
25.08%
5Y Avg
23.03%
Market Cap
$88.24B
Return on Invested Capital (ROIC)
7.93%
TTM Avg
6.36%
3Y Avg
6.09%
5Y Avg
7.57%
Market Cap
$76.82B
Return on Invested Capital (ROIC)
7.65%
TTM Avg
1.50%
3Y Avg
-6.50%
5Y Avg
-6.96%
Market Cap
$75.58B
Return on Invested Capital (ROIC)
5.02%
TTM Avg
4.89%
3Y Avg
4.83%
5Y Avg
5.73%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waste Management, Inc. (WM) | $82.85B | 9.01% | 8.78% | 9.36% | 9.29% |
| Cintas Corporation (CTAS)vs › | $80.40B | 23.53% | 23.31% | 21.46% | 19.94% |
| CSX Corporation (CSX)vs › | $86.72B | 8.99% | 9.30% | 10.17% | 9.93% |
| 3M Company (MMM)vs › | $86.78B | 14.64% | 12.53% | 11.28% | 12.46% |
| United Parcel Service, Inc. (UPS)vs › | $78.91B | 8.99% | 11.29% | 13.45% | 14.09% |
| Illinois Tool Works Inc. (ITW)vs › | $78.39B | 24.71% | 25.90% | 25.08% | 23.03% |
| Emerson Electric Co. (EMR)vs › | $88.24B | 7.93% | 6.36% | 6.09% | 7.57% |
| Bloom Energy Corporation (BE)vs › | $76.82B | 7.65% | 1.50% | -6.50% | -6.96% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $75.58B | 5.02% | 4.89% | 4.83% | 5.73% |
| General Dynamics Corporation (GD)vs › | $90.79B | 10.94% | 10.38% | 9.82% | 9.64% |
ROIC
9.0%
ROE
28.7%
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 | 9.01% |
| 2026-03-31 | 9.02% |
| 2025-12-31 | 8.88% |
| 2025-09-30 | 8.62% |
| 2025-06-30 | 8.36% |
| 2025-03-31 | 8.22% |
| 2024-12-31 | 8.30% |
| 2024-09-30 | 10.65% |
| 2024-06-30 | 10.54% |
| 2024-03-31 | 10.60% |
| 2023-12-31 | 9.96% |
| 2023-09-30 | 9.82% |
| 2023-06-30 | 9.70% |
| 2023-03-31 | 9.58% |
| 2022-12-31 | 9.61% |
| 2022-09-30 | 9.79% |
| 2022-06-30 | 9.13% |
| 2022-03-31 | 9.18% |
| 2021-12-31 | 8.89% |
| 2021-09-30 | 8.75% |
| 2021-06-30 | 8.37% |
| 2021-03-31 | 7.68% |
| 2020-12-31 | 7.43% |
| 2020-09-30 | 9.23% |
| 2020-06-30 | 8.78% |
| 2020-03-31 | 8.95% |
| 2019-12-31 | 8.81% |
| 2019-09-30 | 9.00% |
| 2019-06-30 | 9.48% |
| 2019-03-31 | 10.65% |
| 2018-12-31 | 11.08% |
| 2018-09-30 | 11.53% |
| 2018-06-30 | 11.10% |
| 2018-03-31 | 10.44% |
| 2017-12-31 | 10.32% |
| 2017-09-30 | 9.02% |
| 2017-06-30 | 8.98% |
| 2017-03-31 | 8.72% |
| 2016-12-31 | 8.43% |
| 2016-09-30 | 8.08% |
| 2016-06-30 | 7.89% |
| 2016-03-31 | 7.65% |
| 2015-12-31 | 7.99% |
| 2015-09-30 | 10.78% |
| 2015-06-30 | 10.59% |
| 2015-03-31 | 9.93% |
| 2014-12-31 | 9.24% |
| 2014-09-30 | 3.20% |
| 2014-06-30 | 3.21% |
| 2014-03-31 | 3.10% |
| 2013-12-31 | 2.92% |
| 2013-09-30 | 6.17% |
| 2013-06-30 | 6.06% |
| 2013-03-31 | 5.84% |
| 2012-12-31 | 5.87% |
| 2012-09-30 | 6.12% |
| 2012-06-30 | 6.46% |
| 2012-03-31 | 6.59% |
| 2011-12-31 | 6.69% |
| 2011-09-30 | 6.81% |
| 2011-06-30 | 6.77% |
| 2011-03-31 | 6.70% |
| 2010-12-31 | 6.76% |
| 2010-09-30 | 7.10% |
| 2010-06-30 | 7.02% |
| 2010-03-31 | 7.31% |
| 2009-12-31 | 7.15% |
| 2009-09-30 | 6.65% |
| 2009-06-30 | 6.83% |
| 2009-03-31 | 7.00% |
| 2008-12-31 | 7.67% |
| 2008-09-30 | 8.16% |
| 2008-06-30 | 8.15% |
| 2008-03-31 | 8.38% |
| 2007-12-31 | 8.48% |
| 2007-09-30 | 8.23% |
| 2007-06-30 | 8.49% |
| 2007-03-31 | 9.10% |
| 2006-12-31 | 8.71% |
| 2006-09-30 | 8.94% |
| 2006-06-30 | 8.62% |
| 2006-03-31 | 9.70% |
| 2005-12-31 | 9.29% |
| 2005-09-30 | 9.18% |
| 2005-06-30 | 9.59% |
| 2005-03-31 | 7.53% |
| 2004-12-31 | 7.43% |
| 2004-09-30 | 6.91% |
| 2004-06-30 | 6.14% |
| 2004-03-31 | 5.69% |
| 2003-12-31 | 5.53% |
| 2003-09-30 | 5.55% |
| 2003-06-30 | 5.77% |
