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 3.93% is in line with its 5-year average of 4.02%, around the middle of its 5-year range (3.12%–4.55%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.44% below its 12-month average of 4.16%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q2 FY2026 (2026-06-30): 3.93%.
RETURN ON INVESTED CAPITAL (ROIC)
3.93%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
4.16%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
4.32%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
4.02%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
4.32%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
3.70%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.36%
CURRENT VS TTM AVG
-5.44%
CURRENT VS 3Y AVG
-8.99%
CURRENT VS 5Y AVG
-2.29%
CURRENT VS 10Y AVG
-8.94%
CURRENT VS 15Y AVG
+6.32%
CURRENT VS 20Y AVG
+16.98%
SECTOR MEDIAN · REAL ESTATE
4.78%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-17.79%
vs the sector median at left
AvalonBay Communities, Inc.
Market Cap
$26.28B
Return on Invested Capital (ROIC)
3.93%
TTM Avg
4.16%
3Y Avg
4.32%
5Y Avg
4.02%
Market Cap
$27.23B
Return on Invested Capital (ROIC)
7.64%
TTM Avg
7.92%
3Y Avg
6.99%
5Y Avg
6.96%
Market Cap
$23.87B
Return on Invested Capital (ROIC)
4.45%
TTM Avg
7.17%
3Y Avg
7.96%
5Y Avg
7.76%
Market Cap
$28.83B
Return on Invested Capital (ROIC)
5.09%
TTM Avg
4.69%
3Y Avg
5.55%
5Y Avg
6.42%
Market Cap
$32.28B
Return on Invested Capital (ROIC)
9.63%
TTM Avg
-1.28%
3Y Avg
2.57%
5Y Avg
3.42%
Market Cap
$19.24B
Return on Invested Capital (ROIC)
11.87%
TTM Avg
11.46%
3Y Avg
9.98%
5Y Avg
9.22%
Market Cap
$33.59B
Return on Invested Capital (ROIC)
6.34%
TTM Avg
5.03%
3Y Avg
5.38%
5Y Avg
5.55%
Market Cap
$17.44B
Return on Invested Capital (ROIC)
4.34%
TTM Avg
5.87%
3Y Avg
5.39%
5Y Avg
4.94%
Market Cap
$16.37B
Return on Invested Capital (ROIC)
4.67%
TTM Avg
4.02%
3Y Avg
3.82%
5Y Avg
3.49%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| AvalonBay Communities, Inc. (AVB) | $26.28B | 3.93% | 4.16% | 4.32% | 4.02% |
| VICI Properties Inc. (VICI)vs › | $27.23B | 7.64% | 7.92% | 6.99% | 6.96% |
| Equity Residential (EQR)vs › | $23.87B | 4.45% | 7.17% | 7.96% | 7.76% |
| Extra Space Storage Inc. (EXR)vs › | $28.83B | 5.09% | 4.69% | 5.55% | 6.42% |
| Crown Castle Inc. (CCI)vs › | $32.28B | 9.63% | -1.28% | 2.57% | 3.42% |
| SBA Communications Corporation (SBAC)vs › | $19.24B | 11.87% | 11.46% | 9.98% | 9.22% |
| Iron Mountain Incorporated (IRM)vs › | $33.59B | 6.34% | 5.03% | 5.38% | 5.55% |
| Essex Property Trust, Inc. (ESS)vs › | $17.44B | 4.34% | 5.87% | 5.39% | 4.94% |
| Invitation Homes Inc. (INVH)vs › | $16.37B | 4.67% | 4.02% | 3.82% | 3.49% |
| Weyerhaeuser Company (WY)vs › | $15.86B | 3.67% | 3.48% | 7.17% | 9.13% |
ROIC
3.9%
ROE
8.6%
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 | 3.93% |
| 2026-03-31 | 4.05% |
| 2025-12-31 | 4.12% |
| 2025-09-30 | 4.32% |
| 2025-06-30 | 4.37% |
| 2025-03-31 | 4.55% |
| 2024-12-31 | 4.52% |
| 2024-09-30 | 4.45% |
| 2024-06-30 | 4.45% |
| 2024-03-31 | 4.49% |
| 2023-12-31 | 4.39% |
| 2023-09-30 | 4.31% |
| 2023-06-30 | 4.20% |
| 2023-03-31 | 4.16% |
| 2022-12-31 | 3.92% |
| 2022-09-30 | 3.81% |
| 2022-06-30 | 3.59% |
| 2022-03-31 | 3.33% |
| 2021-12-31 | 3.16% |
| 2021-09-30 | 3.12% |
| 2021-06-30 | 3.23% |
| 2021-03-31 | 3.49% |
| 2020-12-31 | 3.83% |
| 2020-09-30 | 4.21% |
| 2020-06-30 | 4.33% |
| 2020-03-31 | 4.28% |
| 2019-12-31 | 4.45% |
| 2019-09-30 | 4.47% |
| 2019-06-30 | 4.53% |
| 2019-03-31 | 4.65% |
| 2018-12-31 | 4.66% |
| 2018-09-30 | 4.55% |
| 2018-06-30 | 4.51% |
| 2018-03-31 | 4.46% |
| 2017-12-31 | 4.49% |
| 2017-09-30 | 4.52% |
| 2017-06-30 | 4.50% |
| 2017-03-31 | 4.46% |
| 2016-12-31 | 4.54% |
| 2016-09-30 | 4.59% |
| 2016-06-30 | 4.53% |
| 2016-03-31 | 4.52% |
| 2015-12-31 | 3.78% |
| 2015-09-30 | 3.62% |
| 2015-06-30 | 2.68% |
| 2015-03-31 | 2.27% |
| 2014-12-31 | 2.39% |
| 2014-09-30 | 2.09% |
| 2014-06-30 | 1.84% |
| 2014-03-31 | 1.48% |
| 2013-12-31 | 1.29% |
| 2013-09-30 | 2.04% |
| 2013-06-30 | 2.18% |
| 2013-03-31 | 2.44% |
| 2012-12-31 | 3.37% |
| 2012-09-30 | 4.17% |
| 2012-06-30 | 3.98% |
| 2012-03-31 | 2.34% |
| 2011-12-31 | 2.20% |
| 2011-09-30 | 2.10% |
| 2011-06-30 | 2.16% |
| 2011-03-31 | 2.10% |
| 2010-12-31 | 2.04% |
| 2010-09-30 | 2.99% |
| 2010-06-30 | 2.87% |
| 2010-03-31 | 2.14% |
| 2009-12-31 | 1.83% |
| 2009-09-30 | 1.96% |
| 2009-06-30 | 2.11% |
| 2009-03-31 | 2.42% |
| 2008-12-31 | 2.52% |
| 2008-09-30 | 3.54% |
| 2008-06-30 | 1.85% |
| 2008-03-31 | 2.11% |
| 2007-12-31 | 3.10% |
| 2007-09-30 | 2.06% |
| 2007-06-30 | 1.74% |
| 2007-03-31 | 1.71% |
| 2006-12-31 | 2.61% |
| 2006-09-30 | 2.44% |
| 2006-06-30 | 2.51% |
| 2006-03-31 | 2.53% |
| 2005-12-31 | 2.46% |
| 2005-09-30 | 2.58% |
| 2005-06-30 | 3.69% |
| 2005-03-31 | 3.88% |
| 2004-12-31 | 3.21% |
| 2004-09-30 | 0.87% |
| 2004-06-30 | 0.79% |
| 2004-03-31 | 0.80% |
| 2003-12-31 | 0.82% |
| 2003-09-30 | 1.00% |
| 2003-06-30 | 3.11% |
