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 12.96% is in line with its 5-year average of 13.90%, near the low end of its 5-year range (11.88%–16.98%).
As of the fiscal period ended Friday, July 31, 2026. 0.99% above its 12-month average of 12.83%.
Trailing-twelve-month return on invested capital at each fiscal quarter end; no daily interpolation. Q1 FY2027 (2026-07-31): 12.96%.
RETURN ON INVESTED CAPITAL (ROIC)
12.96%
RETURN ON INVESTED CAPITAL (ROIC) AVG TTM
12.83%
RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y
13.38%
RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y
13.90%
RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y
15.86%
RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y
16.82%
RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y
16.42%
CURRENT VS TTM AVG
+0.99%
CURRENT VS 3Y AVG
-3.17%
CURRENT VS 5Y AVG
-6.77%
CURRENT VS 10Y AVG
-18.31%
CURRENT VS 15Y AVG
-22.97%
CURRENT VS 20Y AVG
-21.06%
SECTOR MEDIAN · CONSUMER DEFENSIVE
8.18%
median of 52 covered companies
CURRENT VS SECTOR MEDIAN
+58.33%
vs the sector median at left
Brown-Forman Corporation
Market Cap
$12.40B
Return on Invested Capital (ROIC)
12.96%
TTM Avg
12.83%
3Y Avg
13.38%
5Y Avg
13.90%
Market Cap
$12.85B
Return on Invested Capital (ROIC)
6.96%
TTM Avg
2.54%
3Y Avg
2.92%
5Y Avg
4.02%
Market Cap
$11.26B
Return on Invested Capital (ROIC)
3.16%
TTM Avg
5.60%
3Y Avg
6.70%
5Y Avg
7.53%
Market Cap
$13.75B
Return on Invested Capital (ROIC)
6.16%
TTM Avg
7.89%
3Y Avg
7.26%
5Y Avg
7.39%
Market Cap
$10.39B
Return on Invested Capital (ROIC)
20.67%
TTM Avg
22.68%
3Y Avg
17.92%
5Y Avg
17.53%
Market Cap
$7.90B
Return on Invested Capital (ROIC)
9.90%
TTM Avg
9.28%
3Y Avg
6.44%
5Y Avg
6.44%
Market Cap
$7.20B
Return on Invested Capital (ROIC)
-11.90%
TTM Avg
-2.96%
3Y Avg
-0.13%
5Y Avg
0.44%
Market Cap
$7.02B
Return on Invested Capital (ROIC)
5.33%
TTM Avg
9.14%
3Y Avg
4.96%
5Y Avg
4.24%
Market Cap
$6.87B
Return on Invested Capital (ROIC)
-10.93%
TTM Avg
-10.93%
3Y Avg
-0.31%
5Y Avg
1.66%
| NAME | MARKET CAP | RETURN ON INVESTED CAPITAL (ROIC) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Brown-Forman Corporation (BF-B) | $12.40B | 12.96% | 12.83% | 13.38% | 13.90% |
| The J. M. Smucker Company (SJM)vs › | $12.85B | 6.96% | 2.54% | 2.92% | 4.02% |
| Hormel Foods Corporation (HRL)vs › | $11.26B | 3.16% | 5.60% | 6.70% | 7.53% |
| McCormick & Company, Incorporated (MKC)vs › | $13.75B | 6.16% | 7.89% | 7.26% | 7.39% |
| The Clorox Company (CLX)vs › | $10.39B | 20.67% | 22.68% | 17.92% | 17.53% |
| Smithfield Foods, Inc. (SFD)vs › | $7.90B | 9.90% | 9.28% | 6.44% | 6.44% |
| Molson Coors Beverage Company (TAP)vs › | $7.20B | -11.90% | -2.96% | -0.13% | 0.44% |
| Celsius Holdings, Inc. (CELH)vs › | $7.02B | 5.33% | 9.14% | 4.96% | 4.24% |
| Conagra Brands, Inc. (CAG)vs › | $6.87B | -10.93% | -10.93% | -0.31% | 1.66% |
| Sprouts Farmers Market, Inc. (SFM)vs › | $6.71B | 14.19% | 14.39% | 12.20% | 12.04% |
ROIC
13.0%
ROE
18.2%
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) |
|---|---|
| 2026-07-31 | 12.96% |
| 2026-04-30 | 13.69% |
| 2026-01-31 | 12.60% |
| 2025-10-31 | 12.17% |
| 2025-07-31 | 12.75% |
| 2025-04-30 | 12.80% |
| 2025-01-31 | 14.14% |
| 2024-10-31 | 14.44% |
| 2024-07-31 | 14.71% |
| 2024-04-30 | 15.21% |
| 2024-01-31 | 14.38% |
| 2023-10-31 | 12.17% |
| 2023-07-31 | 11.98% |
| 2023-04-30 | 12.52% |
| 2023-01-31 | 11.88% |
| 2022-10-31 | 15.67% |
| 2022-07-31 | 16.98% |
| 2022-04-30 | 16.21% |
| 2022-01-31 | 15.98% |
| 2021-10-31 | 14.23% |
| 2021-07-31 | 14.45% |
| 2021-04-30 | 16.77% |
| 2021-01-31 | 17.03% |
| 2020-10-31 | 17.43% |
| 2020-07-31 | 18.85% |
| 2020-04-30 | 17.10% |
| 2020-01-31 | 19.06% |
| 2019-10-31 | 18.93% |
| 2019-07-31 | 19.27% |
| 2019-04-30 | 19.99% |
| 2019-01-31 | 19.33% |
| 2018-10-31 | 17.94% |
| 2018-07-31 | 18.33% |
| 2018-04-30 | 17.57% |
| 2018-01-31 | 20.56% |
| 2017-10-31 | 17.91% |
| 2017-07-31 | 17.66% |
| 2017-04-30 | 17.18% |
| 2017-01-31 | 26.90% |
| 2016-10-31 | 26.22% |
| 2016-07-31 | 26.14% |
| 2016-04-30 | 30.02% |
| 2016-01-31 | 19.05% |
| 2015-10-31 | 18.83% |
| 2015-07-31 | 18.84% |
| 2015-04-30 | 19.10% |
| 2015-01-31 | 19.51% |
| 2014-10-31 | 18.58% |
| 2014-07-31 | 19.13% |
| 2014-04-30 | 19.00% |
| 2014-01-31 | 19.49% |
| 2013-10-31 | 19.24% |
| 2013-07-31 | 19.19% |
| 2013-04-30 | 19.43% |
| 2013-01-31 | 18.20% |
| 2012-10-31 | 17.34% |
| 2012-07-31 | 17.97% |
| 2012-04-30 | 17.27% |
| 2012-01-31 | 18.55% |
| 2011-10-31 | 18.94% |
| 2011-07-31 | 18.45% |
| 2011-04-30 | 18.10% |
| 2011-01-31 | 16.36% |
| 2010-10-31 | 15.28% |
| 2010-07-31 | 15.32% |
| 2010-04-30 | 15.44% |
| 2010-01-31 | 15.91% |
| 2009-10-31 | 15.55% |
| 2009-07-31 | 16.10% |
| 2009-04-30 | 14.59% |
| 2009-01-31 | 15.13% |
| 2008-10-31 | 14.22% |
| 2008-07-31 | 15.26% |
| 2008-04-30 | 15.55% |
| 2008-01-31 | 14.71% |
| 2007-10-31 | 13.77% |
| 2007-07-31 | 14.12% |
| 2007-04-30 | 13.87% |
| 2007-01-31 | 12.53% |
| 2006-10-31 | 16.43% |
| 2006-07-31 | 16.85% |
| 2006-04-30 | 16.69% |
| 2006-01-31 | 16.50% |
| 2005-10-31 | 14.45% |
| 2005-07-31 | 14.03% |
| 2005-04-30 | 12.50% |
| 2005-01-31 | 13.16% |
| 2004-10-31 | 14.23% |
| 2004-07-31 | 14.84% |
| 2004-04-30 | 13.15% |
| 2004-01-31 | 13.56% |
| 2003-10-31 | 12.56% |
| 2003-07-31 | 12.87% |
