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 23.85% is 27% below its 5-year average of 32.70%, near the low end of its 5-year range (17.55%–43.95%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.18% above its 12-month average of 23.12%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
23.85%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
23.12%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
32.20%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
32.70%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
27.79%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
22.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
18.63%
CURRENT VS TTM AVG
+3.18%
CURRENT VS 3Y AVG
-25.92%
CURRENT VS 5Y AVG
-27.05%
CURRENT VS 10Y AVG
-14.15%
CURRENT VS 15Y AVG
+7.11%
CURRENT VS 20Y AVG
+28.03%
SECTOR MEDIAN · TECHNOLOGY
8.17%
median of 193 covered companies
CURRENT VS SECTOR MEDIAN
+191.97%
vs the sector median at left
Automatic Data Processing, Inc.
Market Cap
$106.52B
Return on Invested Capital (ROIC)
23.85%
TTM Avg
23.12%
3Y Avg
32.20%
5Y Avg
32.70%
Market Cap
$108.60B
Return on Invested Capital (ROIC)
17.13%
TTM Avg
18.32%
3Y Avg
20.20%
5Y Avg
20.44%
Market Cap
$103.84B
Return on Invested Capital (ROIC)
63.79%
TTM Avg
50.00%
3Y Avg
28.59%
5Y Avg
18.74%
Market Cap
$109.53B
Return on Invested Capital (ROIC)
-6.90%
TTM Avg
-5.13%
3Y Avg
-6.98%
5Y Avg
-7.11%
Market Cap
$101.85B
Return on Invested Capital (ROIC)
36.61%
TTM Avg
31.16%
3Y Avg
27.93%
5Y Avg
27.17%
Market Cap
$115.40B
Return on Invested Capital (ROIC)
-24.89%
TTM Avg
-27.77%
3Y Avg
-22.54%
5Y Avg
-19.06%
Market Cap
$115.39B
Return on Invested Capital (ROIC)
32.78%
TTM Avg
27.98%
3Y Avg
29.21%
5Y Avg
26.02%
Market Cap
$89.03B
Return on Invested Capital (ROIC)
7.20%
TTM Avg
5.97%
3Y Avg
7.71%
5Y Avg
7.86%
Market Cap
$86.61B
Return on Invested Capital (ROIC)
16.02%
TTM Avg
15.42%
3Y Avg
13.33%
5Y Avg
12.92%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Automatic Data Processing, Inc. (ADP) | $106.52B | 23.85% | 23.12% | 32.20% | 32.70% |
| Accenture plc (ACN)vs › | $108.60B | 17.13% | 18.32% | 20.20% | 20.44% |
| AppLovin Corporation (APP)vs › | $103.84B | 63.79% | 50.00% | 28.59% | 18.74% |
| Cloudflare, Inc. (NET)vs › | $109.53B | -6.90% | -5.13% | -6.98% | -7.11% |
| Adobe Inc. (ADBE)vs › | $101.85B | 36.61% | 31.16% | 27.93% | 27.17% |
| Snowflake Inc. (SNOW)vs › | $115.40B | -24.89% | -27.77% | -22.54% | -19.06% |
| Fortinet, Inc. (FTNT)vs › | $115.39B | 32.78% | 27.98% | 29.21% | 26.02% |
| ASE Technology Holding Co., Ltd. (ASX)vs › | $89.03B | 7.20% | 5.97% | 7.71% | 7.86% |
| Intuit Inc. (INTU)vs › | $86.61B | 16.02% | 15.42% | 13.33% | 12.92% |
| Datadog, Inc. (DDOG)vs › | $78.98B | 0.23% | 0.17% | -0.80% | -0.85% |
ROIC
23.9%
ROE
73.2%
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 | 23.85% |
| 2026-03-31 | 25.53% |
| 2025-12-31 | 24.01% |
| 2025-09-30 | 17.55% |
| 2025-06-30 | 24.66% |
| 2025-03-31 | 35.08% |
| 2024-12-31 | 37.02% |
| 2024-09-30 | 25.22% |
| 2024-06-30 | 39.37% |
| 2024-03-31 | 40.24% |
| 2023-12-31 | 40.40% |
| 2023-09-30 | 43.95% |
| 2023-06-30 | 41.73% |
| 2023-03-31 | 39.66% |
| 2022-12-31 | 41.75% |
| 2022-09-30 | 41.32% |
| 2022-06-30 | 36.64% |
| 2022-03-31 | 31.66% |
| 2021-12-31 | 27.16% |
| 2021-09-30 | 25.86% |
| 2021-06-30 | 24.02% |
| 2021-03-31 | 25.10% |
| 2020-12-31 | 24.17% |
| 2020-09-30 | 24.42% |
| 2020-06-30 | 24.23% |
| 2020-03-31 | 25.51% |
| 2019-12-31 | 25.47% |
| 2019-09-30 | 17.48% |
| 2019-06-30 | 24.23% |
| 2019-03-31 | 24.66% |
| 2018-12-31 | 21.95% |
| 2018-09-30 | 23.20% |
| 2018-06-30 | 22.85% |
| 2018-03-31 | 25.20% |
| 2017-12-31 | 24.34% |
| 2017-09-30 | 22.21% |
| 2017-06-30 | 22.49% |
| 2017-03-31 | 21.17% |
| 2016-12-31 | 20.64% |
| 2016-09-30 | 17.76% |
| 2016-06-30 | 15.49% |
| 2016-03-31 | 14.93% |
| 2015-12-31 | 15.18% |
| 2015-09-30 | 14.32% |
| 2015-06-30 | 18.21% |
| 2015-03-31 | 17.79% |
| 2014-12-31 | 17.17% |
| 2014-09-30 | 13.28% |
| 2014-06-30 | 12.17% |
| 2014-03-31 | 14.62% |
| 2013-12-31 | 14.78% |
| 2013-09-30 | 10.57% |
| 2013-06-30 | 13.62% |
| 2013-03-31 | 12.96% |
| 2012-12-31 | 12.68% |
| 2012-09-30 | 11.83% |
| 2012-06-30 | 12.66% |
| 2012-03-31 | 11.66% |
| 2011-12-31 | 12.82% |
| 2011-09-30 | 13.86% |
| 2011-06-30 | 14.71% |
| 2011-03-31 | 15.27% |
| 2010-12-31 | 15.83% |
| 2010-09-30 | 15.84% |
| 2010-06-30 | 16.88% |
| 2010-03-31 | 17.55% |
| 2009-12-31 | 18.39% |
| 2009-09-30 | 18.26% |
| 2009-06-30 | 17.44% |
| 2009-03-31 | 18.25% |
| 2008-12-31 | 18.54% |
| 2008-09-30 | 15.27% |
| 2008-06-30 | 17.31% |
| 2008-03-31 | 15.57% |
| 2007-12-31 | 4.02% |
| 2007-09-30 | 4.25% |
| 2007-06-30 | 4.09% |
| 2007-03-31 | 3.46% |
| 2006-12-31 | 3.68% |
| 2006-09-30 | 4.52% |
| 2006-06-30 | 4.26% |
| 2006-03-31 | 3.64% |
| 2005-12-31 | 4.01% |
| 2005-09-30 | 4.72% |
| 2005-06-30 | 4.17% |
| 2005-03-31 | 3.28% |
| 2004-12-31 | 3.68% |
| 2004-09-30 | 4.15% |
| 2004-06-30 | 4.65% |
| 2004-03-31 | 3.80% |
| 2003-12-31 | 3.97% |
| 2003-09-30 | 5.50% |
| 2003-06-30 | 5.27% |
