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 1.09% is 56% below its 5-year average of 2.46%, near the high end of its 5-year range (-13.14%–5.93%).
As of the fiscal period ended Tuesday, June 30, 2026. 301.51% above its 12-month average of 0.27%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation.
RETURN ON INVESTED CAPITAL (ROIC)
1.09%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
0.27%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
2.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
2.46%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
2.47%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
4.17%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
3.02%
CURRENT VS TTM AVG
+301.51%
CURRENT VS 3Y AVG
-56.14%
CURRENT VS 5Y AVG
-55.85%
CURRENT VS 10Y AVG
-55.98%
CURRENT VS 15Y AVG
-73.95%
CURRENT VS 20Y AVG
-64.10%
SECTOR MEDIAN · INDUSTRIALS
9.55%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
-88.64%
vs the sector median at left
Axon Enterprise, Inc.
Market Cap
$40.74B
Return on Invested Capital (ROIC)
1.09%
TTM Avg
0.27%
3Y Avg
2.47%
5Y Avg
2.46%
Market Cap
$41.12B
Return on Invested Capital (ROIC)
6.63%
TTM Avg
5.81%
3Y Avg
5.96%
5Y Avg
5.43%
Market Cap
$41.59B
Return on Invested Capital (ROIC)
20.44%
TTM Avg
18.61%
3Y Avg
25.57%
5Y Avg
26.74%
Market Cap
$42.06B
Return on Invested Capital (ROIC)
6.80%
TTM Avg
3.93%
3Y Avg
3.03%
5Y Avg
2.49%
Market Cap
$38.89B
Return on Invested Capital (ROIC)
20.81%
TTM Avg
21.74%
3Y Avg
25.01%
5Y Avg
23.46%
Market Cap
$43.13B
Return on Invested Capital (ROIC)
11.04%
TTM Avg
11.66%
3Y Avg
11.11%
5Y Avg
10.22%
Market Cap
$38.13B
Return on Invested Capital (ROIC)
-6.11%
TTM Avg
-16.82%
3Y Avg
-18.54%
5Y Avg
-20.84%
Market Cap
$43.89B
Return on Invested Capital (ROIC)
16.51%
TTM Avg
10.88%
3Y Avg
14.29%
5Y Avg
16.21%
Market Cap
$44.04B
Return on Invested Capital (ROIC)
11.37%
TTM Avg
10.50%
3Y Avg
9.87%
5Y Avg
10.08%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Axon Enterprise, Inc. (AXON) | $40.74B | 1.09% | 0.27% | 2.47% | 2.46% |
| Waste Connections, Inc. (WCN)vs › | $41.12B | 6.63% | 5.81% | 5.96% | 5.43% |
| Paychex, Inc. (PAYX)vs › | $41.59B | 20.44% | 18.61% | 25.57% | 26.74% |
| Ferrovial SE (FER)vs › | $42.06B | 6.80% | 3.93% | 3.03% | 2.49% |
| Old Dominion Freight Line, Inc. (ODFL)vs › | $38.89B | 20.81% | 21.74% | 25.01% | 23.46% |
| Thomson Reuters Corporation (TRI)vs › | $43.13B | 11.04% | 11.66% | 11.11% | 10.22% |
| Rocket Lab USA, Inc. (RKLB)vs › | $38.13B | -6.11% | -16.82% | -18.54% | -20.84% |
| Ferguson plc (FERG)vs › | $43.89B | 16.51% | 10.88% | 14.29% | 16.21% |
| HEICO Corporation (HEI)vs › | $44.04B | 11.37% | 10.50% | 9.87% | 10.08% |
| HEICO Corporation (HEI-A)vs › | $45.27B | 11.37% | 10.50% | 9.87% | 10.08% |
ROIC
1.1%
ROE
5.4%
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 | 1.09% |
| 2026-03-31 | 0.65% |
| 2025-12-31 | 0.02% |
| 2025-09-30 | -0.44% |
| 2025-06-30 | 0.04% |
| 2025-03-31 | 0.69% |
| 2024-12-31 | 1.68% |
| 2024-09-30 | 3.13% |
| 2024-06-30 | 4.30% |
| 2024-03-31 | 5.15% |
| 2023-12-31 | 5.93% |
| 2023-09-30 | 5.39% |
| 2023-06-30 | 4.55% |
| 2023-03-31 | 3.21% |
| 2022-12-31 | 3.10% |
| 2022-09-30 | 2.32% |
| 2022-06-30 | 0.98% |
| 2022-03-31 | -7.69% |
| 2021-12-31 | -13.14% |
| 2021-09-30 | -10.60% |
| 2021-06-30 | -11.34% |
| 2021-03-31 | -5.30% |
| 2020-12-31 | -1.01% |
| 2020-09-30 | -3.09% |
| 2020-06-30 | -1.93% |
| 2020-03-31 | -1.09% |
| 2019-12-31 | -0.48% |
| 2019-09-30 | 1.59% |
| 2019-06-30 | 1.26% |
| 2019-03-31 | 2.42% |
| 2018-12-31 | 4.49% |
| 2018-09-30 | 4.40% |
| 2018-06-30 | 3.54% |
| 2018-03-31 | 4.42% |
| 2017-12-31 | 3.11% |
| 2017-09-30 | 4.86% |
| 2017-06-30 | 7.27% |
| 2017-03-31 | 8.88% |
| 2016-12-31 | 8.75% |
| 2016-09-30 | 9.23% |
| 2016-06-30 | 8.28% |
| 2016-03-31 | 8.66% |
| 2015-12-31 | 10.38% |
| 2015-09-30 | 11.06% |
| 2015-06-30 | 14.46% |
| 2015-03-31 | 14.43% |
| 2014-12-31 | 13.06% |
| 2014-09-30 | 15.51% |
| 2014-06-30 | 14.88% |
| 2014-03-31 | 14.10% |
| 2013-12-31 | 15.57% |
| 2013-09-30 | 15.42% |
| 2013-06-30 | 16.34% |
| 2013-03-31 | 14.16% |
| 2012-12-31 | 14.96% |
| 2012-09-30 | 6.83% |
| 2012-06-30 | 4.31% |
| 2012-03-31 | -4.88% |
| 2011-12-31 | -12.25% |
| 2011-09-30 | -3.69% |
| 2011-06-30 | -5.12% |
| 2011-03-31 | -3.41% |
| 2010-12-31 | -4.14% |
| 2010-09-30 | 0.94% |
| 2010-06-30 | -1.57% |
| 2010-03-31 | 0.00% |
| 2009-12-31 | -0.03% |
| 2009-09-30 | -0.63% |
| 2009-06-30 | 2.54% |
| 2009-03-31 | 1.24% |
| 2008-12-31 | 2.41% |
| 2008-09-30 | 2.93% |
| 2008-06-30 | 7.41% |
| 2008-03-31 | 11.26% |
| 2007-12-31 | 10.85% |
| 2007-09-30 | 9.51% |
| 2007-06-30 | 7.07% |
| 2007-03-31 | -7.36% |
| 2006-12-31 | -6.75% |
| 2006-09-30 | -10.41% |
| 2006-06-30 | -13.80% |
| 2006-03-31 | 1.35% |
| 2005-12-31 | 0.86% |
| 2005-09-30 | 5.17% |
| 2005-06-30 | 10.94% |
| 2005-03-31 | 15.05% |
| 2004-12-31 | 19.29% |
| 2004-09-30 | 26.32% |
| 2004-06-30 | 21.58% |
| 2004-03-31 | 20.04% |
| 2003-12-31 | 16.52% |
| 2003-09-30 | 14.28% |
| 2003-06-30 | 7.77% |
