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 7.27% is 34% above its 5-year average of 5.44%, near the high end of its 5-year range (3.65%–7.32%).
As of the fiscal period ended Tuesday, June 30, 2026. 4.91% above its 12-month average of 6.93%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
7.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
6.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
6.12%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
5.44%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
5.77%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
5.92%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
5.63%
CURRENT VS TTM AVG
+4.91%
CURRENT VS 3Y AVG
+18.95%
CURRENT VS 5Y AVG
+33.71%
CURRENT VS 10Y AVG
+26.02%
CURRENT VS 15Y AVG
+22.90%
CURRENT VS 20Y AVG
+29.28%
SECTOR MEDIAN · REAL ESTATE
4.67%
median of 41 covered companies
CURRENT VS SECTOR MEDIAN
+55.76%
vs the sector median at left
American Tower Corporation
Market Cap
$81.48B
Return on Invested Capital (ROIC)
7.27%
TTM Avg
6.93%
3Y Avg
6.12%
5Y Avg
5.44%
Market Cap
$69.97B
Return on Invested Capital (ROIC)
2.25%
TTM Avg
1.16%
3Y Avg
1.23%
5Y Avg
1.39%
Market Cap
$67.25B
Return on Invested Capital (ROIC)
8.81%
TTM Avg
9.56%
3Y Avg
9.08%
5Y Avg
8.33%
Market Cap
$102.29B
Return on Invested Capital (ROIC)
4.99%
TTM Avg
3.89%
3Y Avg
3.86%
5Y Avg
3.64%
Market Cap
$56.37B
Return on Invested Capital (ROIC)
2.24%
TTM Avg
2.69%
3Y Avg
2.70%
5Y Avg
2.77%
Market Cap
$55.24B
Return on Invested Capital (ROIC)
11.74%
TTM Avg
11.48%
3Y Avg
11.91%
5Y Avg
11.67%
Market Cap
$43.15B
Return on Invested Capital (ROIC)
2.81%
TTM Avg
2.95%
3Y Avg
2.44%
5Y Avg
2.34%
Market Cap
$40.83B
Return on Invested Capital (ROIC)
5.77%
TTM Avg
6.20%
3Y Avg
7.03%
5Y Avg
7.10%
Market Cap
$126.55B
Return on Invested Capital (ROIC)
3.37%
TTM Avg
4.08%
3Y Avg
3.98%
5Y Avg
4.14%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| American Tower Corporation (AMT) | $81.48B | 7.27% | 6.93% | 6.12% | 5.44% |
| Digital Realty Trust, Inc. (DLR)vs › | $69.97B | 2.25% | 1.16% | 1.23% | 1.39% |
| Simon Property Group, Inc. (SPG)vs › | $67.25B | 8.81% | 9.56% | 9.08% | 8.33% |
| Equinix, Inc. (EQIX)vs › | $102.29B | 4.99% | 3.89% | 3.86% | 3.64% |
| Realty Income Corporation (O)vs › | $56.37B | 2.24% | 2.69% | 2.70% | 2.77% |
| Public Storage (PSA)vs › | $55.24B | 11.74% | 11.48% | 11.91% | 11.67% |
| Ventas, Inc. (VTR)vs › | $43.15B | 2.81% | 2.95% | 2.44% | 2.34% |
| CBRE Group, Inc. (CBRE)vs › | $40.83B | 5.77% | 6.20% | 7.03% | 7.10% |
| Prologis, Inc. (PLD)vs › | $126.55B | 3.37% | 4.08% | 3.98% | 4.14% |
| Iron Mountain Incorporated (IRM)vs › | $34.35B | 6.34% | 5.03% | 5.38% | 5.55% |
ROIC
7.3%
ROE
90.8%
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 | 7.27% |
| 2026-03-31 | 7.02% |
| 2025-12-31 | 6.67% |
| 2025-09-30 | 7.11% |
| 2025-06-30 | 6.60% |
| 2025-03-31 | 7.11% |
| 2024-12-31 | 7.32% |
| 2024-09-30 | 6.32% |
| 2024-06-30 | 5.98% |
| 2024-03-31 | 5.45% |
| 2023-12-31 | 4.87% |
| 2023-09-30 | 4.08% |
| 2023-06-30 | 3.69% |
| 2023-03-31 | 3.65% |
| 2022-12-31 | 3.66% |
| 2022-09-30 | 4.20% |
| 2022-06-30 | 4.34% |
| 2022-03-31 | 4.23% |
| 2021-12-31 | 4.35% |
| 2021-09-30 | 5.18% |
| 2021-06-30 | 5.13% |
| 2021-03-31 | 6.24% |
| 2020-12-31 | 6.04% |
| 2020-09-30 | 7.38% |
| 2020-06-30 | 7.24% |
| 2020-03-31 | 7.34% |
| 2019-12-31 | 6.68% |
| 2019-09-30 | 6.52% |
| 2019-06-30 | 6.15% |
| 2019-03-31 | 5.78% |
| 2018-12-31 | 6.13% |
| 2018-09-30 | 5.89% |
| 2018-06-30 | 5.85% |
| 2018-03-31 | 5.73% |
| 2017-12-31 | 6.19% |
| 2017-09-30 | 6.30% |
| 2017-06-30 | 6.10% |
| 2017-03-31 | 5.48% |
| 2016-12-31 | 5.42% |
| 2016-09-30 | 5.34% |
| 2016-06-30 | 4.62% |
| 2016-03-31 | 5.20% |
| 2015-12-31 | 5.07% |
| 2015-09-30 | 4.95% |
| 2015-06-30 | 5.59% |
| 2015-03-31 | 5.73% |
| 2014-12-31 | 6.80% |
| 2014-09-30 | 6.50% |
| 2014-06-30 | 6.01% |
| 2014-03-31 | 5.86% |
| 2013-12-31 | 5.57% |
| 2013-09-30 | 6.12% |
| 2013-06-30 | 7.87% |
| 2013-03-31 | 7.03% |
| 2012-12-31 | 7.02% |
| 2012-09-30 | 8.54% |
| 2012-06-30 | 7.83% |
| 2012-03-31 | 7.11% |
| 2011-12-31 | 6.00% |
| 2011-09-30 | 4.69% |
| 2011-06-30 | 4.90% |
| 2011-03-31 | 5.06% |
| 2010-12-31 | 5.32% |
| 2010-09-30 | 5.66% |
| 2010-06-30 | 6.00% |
| 2010-03-31 | 5.19% |
| 2009-12-31 | 4.65% |
| 2009-09-30 | 5.11% |
| 2009-06-30 | 5.01% |
| 2009-03-31 | 5.10% |
| 2008-12-31 | 4.97% |
| 2008-09-30 | 3.90% |
| 2008-06-30 | 3.59% |
| 2008-03-31 | 3.21% |
| 2007-12-31 | 2.95% |
| 2007-09-30 | 3.51% |
| 2007-06-30 | 2.23% |
| 2007-03-31 | 2.09% |
| 2006-12-31 | 1.91% |
| 2006-09-30 | 1.83% |
| 2006-06-30 | 3.00% |
| 2006-03-31 | 2.53% |
| 2005-12-31 | 2.04% |
| 2005-09-30 | 1.33% |
| 2005-06-30 | 1.97% |
| 2005-03-31 | 1.65% |
| 2004-12-31 | 1.43% |
| 2004-09-30 | 1.59% |
| 2004-06-30 | 1.32% |
| 2004-03-31 | 1.00% |
| 2003-12-31 | 0.58% |
| 2003-09-30 | 4.74% |
| 2003-06-30 | -0.89% |
